FINRA filed with the SEC a proposed rule change to revise the implementation date for the Supplemental Inventory Schedule from December 31, 2014 to January 30, 2015. The proposed rule change would be effective immediately. See: Text of Proposed Rule Change; FINRA Rule Filing. Related news: SEC Approves FINRA Proposal to Adopt Supplementary Schedule for Inventory Positions (Fed. Reg.) (September 29, 2014); FINRA-Proposed Rule Amendment Regarding Supplemental Schedule for Inventory Positions (Fed. Reg.) (June 26, 2014); FINRA Proposes to Adopt Supplemental Schedule for Inventory Positions (June

FINRA released the Fall 2014 Firm Element Advisory ("FEA"), which identifies topics for regulatory and sales practices that firms should consider in creating training plans. The Fall 2014 FEA provides updates that are intended to aid firms in developing and updating their Firm Element needs analysis and written training plans. Among other items, the updated FEA addresses: amendments to FINRA Rule 5110 ("Corporate Financing Rule – Underwriting Terms and Arrangements"), which permit termination fees and rights of first refusal in addition to exempting filing requirements for certain collective

The joint final rule issued by the Office of the Comptroller of the Currency ("OCC"), the Board of Governors of the Federal Reserve System ("FRB") and the Federal Deposit Insurance Corporation ("FDIC") that implements a minimum liquidity coverage ratio ("LCR") requirement for certain large bank holding companies, savings and loan holding companies, and depository institutions was published in the Federal Register. The effective date for the newly adopted and amended rules set forth in this release is January 1, 2015. Click here to view our original story on the final rules. For further

The CFTC held a Global Markets Advisory Committee meeting that focused on issues relating to the mandatory clearing of FX non-deliverable forwards ("NDFs") and the digital currency Bitcoin. The first panel discussed whether a clearing mandate is appropriate for NDFs, with a particular focus on how a mandate would impact foreign exchange contracts. The second panel discussed the CFTC's jurisdiction with respect to derivatives contracts that involve Bitcoin. C lick here to view a summary of the meeting prepared by Delta Strategy Group. See also: CFTC Global Markets Advisory Committee Meeting

The SEC announced an enforcement action against current and former brokerage subsidiaries of E*TRADE Financial Corporation for failing in their "gatekeeper roles" and improperly engaging in unregistered sales of microcap stocks on behalf customers. According to the Order, E*TRADE Securities and E*TRADE Capital Markets sold billions of penny stock shares for customers during a four-year period, notwithstanding red flags that the offerings were being conducted without an applicable exemption from the registration provisions of the federal securities laws. In addition to the enforcement action