SEC Commissioner Daniel M. Gallagher delivered opening remarks on SEC investor education and advocacy to military servicemen and women at Fort Hood. Commissioner Gallagher explained that it is not the SEC's job to eliminate all risk from the securities markets, since risk ensures vibrant securities markets for investors. However, he noted that in certain areas, the SEC must help to reduce risk for servicemen and women to ensure that military families can invest responsibly and avoid "falling into the financial traps that all too often befall members of our armed forces." Commissioner Gallagher

IOSCO published a final report, titled "A Comparison and Analysis of Prudential Standards in the Securities Sector," that reviews similarities, differences and gaps among various prudential/capital frameworks. The report focuses on various approaches to the Net Capital Rule ("NCR"), particularly those of the SEC and CFTC, as well as the Capital Requirements Directive ("CRD"), which is based on the Basel Committee approach. The report found that the two key approaches to prudential requirements have methodological similarities and differences: (i) the NCR approach is intended to ensure that

The MSRB announced that public policy scholar Dall W. Forsythe will join the MSRB as a public member. In his new position, Mr. Forsythe will fill the vacancy created by the resignation of Robert A. Fippinger, who will become the MSRB's Chief Legal Officer. See: Press Release.

FINRA-proposed amendments to the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes relating to schedule changes for a hearing were published in the Federal Register. The proposed rule changes would affect Rules 12214, 12601, 13214 and 13601, and would require that either the parties give more advance notice before canceling or postponing a hearing, or a higher late cancellation fee be assessed if such notice is not provided. Comments on the proposal must be submitted by March 17, 2015. See: 80 FR 9773. Related news: FINRA Proposes

The CFTC issued a notice announcing the reopening of the comment periods for two Position Limits rulemakings. The notice was issued in anticipation of questions and comments that may arise during the CFTC Energy and Environmental Markets Advisory Committee ("EEMAC") meeting scheduled for February 26, 2015. The meeting will examine the impact of the proposed position limits and aggregation rulemakings on the ability of energy firms, utilities and producers to protect against fluctuations in the price of electricity, winter heating oil, gasoline, natural gas and other commodities. In connection