In its latest Risk Alert, SEC staff provided an overview of its process for selecting investment advisers for examination, the likely focus of an examination and the types of information examiners may request.

In a report titled "Issuer Considerations for Distributing Bonds: Establishing Priority of Orders," the MSRB offered an overview of how the prioritization of orders is determined and documented, and emphasized that "[i]ssuers are free to structure the priority of orders in any manner they see fit in light of their goals and objectives for the offering."

FINRA updated its Regulatory Extension system to support broker-dealers' transition to the shortened standard settlement cycle from two business days (T+2) to one business day (T+1).

A broker-dealer settled charges with FINRA for failing to properly oversee the outside business activities of two of its representatives.

The SEC approved proposed amendments submitted by participants of the National Market System Plan Governing the Consolidated Audit Trail to revise the plan's funding model and to establish a fee schedule.