The SEC approved MSRB and FINRA proposals requiring securities dealers to disclose the compensation received in transactions with retail investors.

"The Risk Desk" editor John R. Sodergreen described the debate between CFTC Chair Timothy Massad and Commissioner Chris Giancarlo over an amendment to proposed Regulation Automated Trading that would allow the CFTC access to an algorithmic firm's trading source code without first issuing a subpoena.

The NFA named Thomas Sexton to replace Daniel Roth as NFA President and CEO.

The SEC adopted a final rule to permit mutual funds to use "swing pricing," which allows funds to redeem investors' holdings at prices that are lower than the going market value of the funds' assets under certain circumstances.

The SEC adopted a final rule to impose additional liquidity risk requirements by open-end funds, such as mutual funds and exchange-traded funds.