The MSRB announced that it is extending the due date for the first submissions of information about 529 college savings plans by 60 days. New MSRB Rule G-45 requires the underwriters of 529 college savings plans to provide the MSRB with information regarding their plans' assets, contributions, withdrawals, fees and cost structure. Underwriters must submit the required information to the MSRB by October 28, 2015. See: MSRB Press Release.
News & Insights
FINRA issued a regulatory notice announcing updates to the Interpretations of Financial and Operational Rules. FINRA's updated interpretations reflect amendments that were adopted by the SEC to Exchange Act Rules 15c3-1 (Net Capital Requirements for Brokers or Dealers) and 15c3-3 (Customer Protection Reserves and Custody of Securities). The regulatory notice lists the interpretations that have been added, revised and rescinded, respectively. See: FINRA Reg. Notice 15-25. Related news: FINRA Announces Updates of the Interpretations of Financial and Operational Rules (Regulatory Notice 14-12)
FINRA filed a proposed rule change with the SEC to replace the Equity Trader registration category and qualification examination (Series 55) with a Securities Trader registration category and qualification examination (Series 57). Additionally, the proposed rule would establish a Securities Trader Principal registration category. See: Text of Proposed Rule Change.
FINRA filed a proposal with the SEC to remove Rule 4553, which governs fees for alternative trading system ("ATS") data, from the FINRA rulebook. See: Text of Proposed Rule.
FERC issued a notice requesting comments on its proposed five-year review of the index level used to determine annual changes to oil pipeline rate ceilings. FERC proposed an index level between the Producer Price Index for Finished Goods ("PPI-FG") plus 2.0 percent and PPI-FG plus 2.4 percent for the five-year period commencing on July 1, 2016. FERC is requesting comments regarding its proposal and any alternative methodologies for calculating the index level.