FINRA issued a regulatory notice requesting comments on its revised proposal. The proposal would adopt a consolidated rule (FINRA Rule 3260) regarding discretionary accounts and transactions in the consolidated FINRA rulebook. The revised proposal, which reflects comments on the initial proposal, addresses the treatment of customers' free credit balances, sweep programs, bulk transfers of customers' accounts and changes of broker-dealers of record. Comments must be submitted by August 17, 2015. S ee: Regulatory Notice 15-22.

The Board of Governors of the Federal Reserve System ("FRB") announced the approval of a final rule amending Regulation D. The purpose of the rule is to make changes to the calculation of interest payments on excess balances maintained by depository institutions at Federal Reserve Banks. See: FRB Press Release.

The CME Group filed a Motion to Quash in a case involving firm(s) that allegedly "spoofed" orders in the U.S. Treasury futures market. Filed in the United States District Court for the Northern District of Illinois, the Motion is intended to protect the identity of the firm(s) involved. According to the Motion, CME Group is protecting "highly confidential" information from HTG Capital Partners LLC, a high-speed trading firm ("HTG"). In March 2015, HTG filed a lawsuit against the firm(s) alleging that HTG was taken advantage of on "thousands of occasions" by firms that spoofed the U.S. Treasury

The SEC charged a mutual fund adviser, its principal and three mutual fund board members with failing to satisfy their statutory obligations regarding the evaluation and approval of mutual fund advisory contracts. According to the SEC, Commonwealth Capital Management acted as the investment adviser to various mutual funds within World Funds Trust ("WFT") and World Funds Inc. and was part of a turnkey mutual fund platform that provided various services to small and mid-sized mutual funds. An SEC investigation found that as part of the "15(c) process," the WFT's board of trustees requested that

The Office of the Comptroller of the Currency ("OCC") issued a revised booklet titled "Residential Real Estate Lending." The booklet is part of the Comptroller's Handbook. The booklet, which replaces the "Real Estate Loans" and "Examination Procedures" booklets that were issued in March 1990 and March 1998, respectively, includes the following: Advisory Letter 1997-7, "Affordable Mortgage Portfolios," and OCC Bulletin 2005-3, "OCC Guidelines Establishing Standards for National Banks' Residential Mortgage Lending Practices: Appendix C to 12 CFR Part 30," both of which are made applicable to