FINRA filed with the SEC a proposed rule change to amend NASD Rule 1032(f) ("Limited Representative - Equity Trader") to replace the Equity Trader registration category and qualification Series 55 examination with a Securities Trader registration category and qualification Series 57 examination. Additionally, the proposed rule change amends NASD Rule 1022(a) ("General Securities Principal") to establish a Securities Trader Principal registration category. The proposed rule change also makes technical conforming changes to Form U4. See: Text of Proposed Rule Change; FINRA Filing.

FINRA filed with the SEC a proposed rule change to amend FINRA Rule 7470 to extend for four years FINRA's ability to exempt certain members from the recording and reporting requirements of the Order Audit Trail System ("OATS") Rules for manual orders received by the member. See: Text of Proposed Rule Change; FINRA Filing.

The New York Department of Financial Services ("NYDFS") released a final "BitLicense" framework that establishes a licensing and regulatory regime for New York businesses engaged in activities related to Bitcoin and other virtual currencies. According to NYDFS, the rules will apply to persons located in New York that engage in activities related to virtual currency, as well as persons outside of New York that engage in activities related to virtual currency with persons located in New York. The rules define a "person" as an individual, partnership, corporation, association, joint stock

Bitcoin is "fast approaching a critical technical challenge that will fundamentally shape the course of its future" stated Andrea Castillo, Mercatus Technology Policy Program Manager. In an article published by reason.com, Ms. Castillo discusses how an "arbitrary protocol quirk" implemented as a short-term security measure could "potentially undermine Bitcoin's scalability, usability, and even its long-term viability." According to Ms. Castillo, the "final outcome of this Bitcoin block size limit debate will affect how easy it will be to use Bitcoin for common everyday transactions and complex

SIFMA submitted a comment letter to the SEC opposing the MSRB's rule proposal regarding the selection of examination questions and content outline for the Municipal Advisory Representative Qualification Examination (the "Series 50 Examination"). SIFMA joined ICI in opposing the requirement that individuals who advise solely on municipal fund securities, including advising a state on 529 college savings plans, must take a Series 50 Examination. SIFMA asserted that the Series 50 Examination is designed to test competencies that are unrelated to municipal fund securities advice. According to