The NFA asked its members and non-members to submit nominations for five Public Representative seats on the Board. The seats will be filled at the NFA's Annual Meeting on February 16, 2017.

MSRB rule amendments requiring broker-dealers and municipal dealers to disclose certain markups or markdowns on retail customer confirmations will become effective on May 14, 2018.

The SEC renewed the charter of the Equity Market Structure Advisory Committee. The Committee approved recommendations on market quality and order handling disclosure.

The SEC requested comment on a FINRA proposal to (i) prohibit two specific types of disruptive quoting and trading activity, and (ii) expedite proceedings in response violations.

The SEC Division of Corporation Finance provided interpretive guidance confirming that a registered broker-dealer and investment adviser's proposed procedures for offering and selling securities in initial public offerings would not involve a pre-effective sale.