The United States Court of Appeals for the Sixth Circuit dismissed a challenge to the expansion of MSRB "pay-to-play" rules to municipal advisors.

At a hearing before the House Financial Services Subcommittee on Capital Markets, Securities, and Investment, several industry groups called for repeal of the DOL Fiduciary Rule and expressed support for a proposed "standards of conduct" bill.

FINRA proposed amendments to the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes, which would revise the definition of a non-public arbitrator.

The SEC Office of Investor Education and Advocacy issued a bulletin explaining the difference between "stop," "stop-limit" and "trailing stop" orders.

The FDIC reminded banks that Call Reports for the second quarter are due on July 30, 2017.