CME Group issued two disciplinary actions, the first of which concerned position-limit violations, and the second, wash-trade rules. In the first disciplinary action, CME Group found that, on April 8, 2013, the Bank of Oklahoma ("BOK") exceeded the spot-month position limit of 450 by carrying 511 contracts, and that, on April 9, 2013, BOK exceeded its position-limit amount again by carrying 476 contracts. CME Group ordered BOK to pay a fine of $22,500. In a separate disciplinary action, CME Group found that two employees of a subsidiary of Sun Life Financial Inc. ("Sun Life") executed matching

The CFTC announced that it will hold an open meeting on November 3, 2014. At the open meeting, the CFTC will consider: CFTC rules concerning when "residual interest" must be posted by futures commission merchants; recordkeeping requirements under CFTC Rule 1.35 ("Records of Commodity Interest and Related Cash or Forward Transactions"), and whether to conform the text of the rule to no-action relief already granted by CFTC staff; and clarifications of the CFTC's interpretation of when an agreement, contract or transaction that contains embedded volumetric optionality falls within the forward

SEC Commissioner Kara Stein delivered remarks before the Los Angeles County Bar Association, discussing how capital formation has changed in recent years, suggesting ways to simplify capital raising, and sharing thoughts about Regulation A+ ("Reg. A+"). According to Commissioner Stein, technology and creativity have been "massive disrupters" of many old methods of capital formation. She explained that changes in the law, including the JOBS Act, have also "disrupted" the old capital formation process, and exemptions and exclusions have built up to create "a jumble of overlapping and

The SEC sanctioned an auditor for failing to require lead audit partners to periodically rotate off their audit engagements with a publicly traded company as mandated by the Public Company Accounting Oversight Board's rules. S ee: SEC Press Release; SEC Order.

The MSRB issued a Regulatory Notice regarding the SEC's approval to adopt MSRB Rule G-44, the first rule dedicated to municipal advisors, as well as related amendments to Rule G-8 ("Books and Records to be Made by Brokers, Dealers and Municipal Securities Dealers") and Rule G-9 ("Preservation of Records"). According to the Regulatory Notice, the MSRB is in the process of developing a "comprehensive regulatory framework" for municipal advisors. The adoption of Rule G-44, which establishes supervisory and compliance obligations of municipal advisors is a "significant element" of this framework