The NFA published a board update video in which NFA President and CEO Dan Roth joins Chairman Chris Hehmeyer to review rulemakings and other issues discussed at the NFA's November 2014 Board of Directors meeting. See: NFA Board Update - November 2014 Meeting Video.

After a six-week trial, a jury in federal court in Miami found that BankAtlantic Bancorp, Inc. (now known as BBX Capital Corporation) and its CEO committed securities fraud in connection with BankAtlantic's public disclosures and financial statements. The jury found that, in 2007, statements from BankAtlantic's second quarter earnings fraudulently misled investors regarding the financial health of the bank. Additionally, the jury found that BankAtlantic's 2007 annual report fraudulently understated the Bank's loss for that year by approximately $53 million. The verdict came after the SEC

In a blog post titled " Is This Prosecution a Spoof of a Real Manipulation Case?" University of Houston finance professor Craig Pirrong questions the legitimacy of "spoofing" as an allegation in a criminal case involving the trading practices of Michael Coscia. The indictment represents the first criminal case to use the anti-manipulation authority provided in the Dodd-Frank Act to charge spoofing in the context of commodities transactions. Coscia is calling for a dismissal on the grounds that the language in Dodd-Frank regarding spoofing is "hopelessly vague." According to Mr. Pirrong, this

FINRA fined Merrill Lynch for fair pricing and supervisory violations in connection with retail customer transactions in distressed securities over a two-year time period. FINRA found that the firm's Trading Desk purchased notes from retail customers at prices below that of the prevailing market. FINRA also found that the firm did not have an adequate supervisory system in place to detect whether the firm's Credit Desk executed a retail customer transaction at a price that was consistent with the prevailing market price of that security. See: FINRA Press Release.

The CFTC announced an opportunity for public comment on the possible collection of information regarding continued registration requirements for CPOs and CTAs. Specifically, the CFTC invited comments on: whether the proposed collection of information is necessary for the proper performance of the functions of the CFTC, and whether the information will have a practical use; the accuracy of the CFTC's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; ways to enhance the quality, usefulness and clarity of the