The SEC and the New York Attorney General’s office penalized a broker-dealer for a combined amount of $37 million for misleading clients about the performance of an order router that primarily routes equity orders to dark pools. The firm paid an additional $3.5 million to FINRA in a related settlement.

The CFTC proposed rules establishing minimum capital, liquidity, financial reporting and other related requirements applicable to CFTC-registered swap dealers and major swap participants. Comments on the proposed rules must be submitted by March 16, 2017.

The CFTC approved final aggregation rules. The effective date for this final rule is February 14, 2017.

The Board of the International Organization of Securities Commissions issued guidance intended to "increase the consistency and quality" of the reporting by Benchmark Administrators on their compliance with IOSCO's Principles for Financial Benchmarks, published in July 2013.

New SRO rules, rule proposals and NMS plans were announced by the SEC. Click on the links to view SEC notices of exchange rule changes and proposals for the week of December 12 – December 16.