The CFTC's proposed amendments to the trade option exemption for end users were published in the Federal Register. The trade option exemption pertains to reporting requirements for trade option counterparties that are not swap dealers or major swap participants, as well as to recordkeeping requirements for trade option counterparties that are not swap dealers or major swap participants. The CFTC proposed the elimination of the Form TO annual notice reporting requirement for otherwise unreported trade options in CFTC Rule 32.3(b). Under the proposal, a counterparty that is not a swap dealer (

The SEC filed fraud charges against four former officers of the Wilmington Trust Corporation for understating intentionally past-due bank loans. The alleged activity took place from the third quarter of 2009 through the second quarter of 2010. See: SEC Complaint.

The SEC approved a proposal by FINRA and the national securities exchanges (the "Exchanges") for a two-year pilot program. The program would widen the minimum quoting and trading increments – or tick sizes – for the stocks of certain smaller companies. The SEC stated that it plans to use the pilot program to assess whether wider tick sizes enhance the market quality of those stocks to the benefit of issuers and investors. The pilot program will begin on May 6, 2016. It will include the stocks of companies with (i) $3 billion or less in market capitalization, (ii) an average daily trading

FINRA issued a regulatory notice requesting comments on its proposed exemption for proprietary trading firms from the trading activity fee ("TAF"). Regulatory Notice 15-13 explains that the SEC's proposed amendments to Exchange Act Rule 15b9-1 would require a proprietary trading firm relying on the current exemption to register with FINRA if the firm continued to engage in over-the-counter trading, or trading on an exchange of which it was not a member The notice explained that the require a proprietary trading firm relying on the current exemption to register with FINRA if the firm continued

FINRA announced that it censured and fined LPL Financial LLC ("LPL") for supervisory failures in a number of areas, including the sales of nontraditional exchange-traded funds, certain variable annuity contracts, non-traded real estate investment trusts and other complex products. Additionally, FINRA found that LPL's systems for reviewing trading activity in customer accounts "were plagued by multiple deficiencies." According to FINRA, LPL used a surveillance system that failed to generate alerts for certain high-risk activity, including low-priced equity transactions, actively traded