The Investment Adviser Association urged the DOL to extend a temporary enforcement policy related to a Prohibited Transaction Exemption for fiduciaries under ERISA and the Internal Revenue Code.
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FINRA proposed further extending the pilot period related to market-wide circuit breakers in National Market System stocks.
In new guidance, the SEC Division of Trading and Markets staff addressed the application of financial responsibility requirements (margin, capital and segregation) to security-based swap activities.
In Holliday v. Credit Suisse Securities USA LLC, United States District Court for the Southern District of New York Judge George B. Daniels affirmed the dismissal of state law transfer avoidance claims related to a leveraged securities buyout transaction.
FINRA encouraged members to incorporate FinCEN's published Anti-Money Laundering / Combating the Financing of Terrorism priorities into broker-dealer compliance programs.