The FINRA-proposed rule change to adopt FINRA Rule 0190 ("Effective Date of Revocation, Cancellation, Expulsion, Suspension or Resignation") and FINRA Rule 2040 ("Payments to Unregistered Persons"), and to amend FINRA Rule 8311 ("Effect of a Suspension, Revocation, Cancellation, or Bar"), was published in the Federal Register. Comments on the proposed rule should be submitted by October 22, 2014. See: 79 FR 59322. Related news: FINRA Proposes to Adopt FINRA Rule 2040 ("Payments to Unregistered Persons") and Amend Rule 8311 ("Effect of a Suspension") (September 10, 2014).

An announcement reestablishing the CFTC Technology Advisory Committee ("TAC") was published in the Federal Register. The TAC charter will be filed with the CFTC, the Senate Committee on Agriculture, Nutrition and Forestry, the House Committee on Agriculture, the Library of Congress, and the General Services Administration’s Committee Management Secretariat. The TAC itself will be chaired by CFTC Chair Timothy Massad. See: 79 FR 59254.

The SEC announced charges against two individuals for insider trading based on a prominent hedge fund manager's announcement that his hedge fund formed a negative view of Herbalife Ltd. and took a $1 billion short position in its securities. According to the SEC's orders, one of the individuals learned from his roommate, who was then a Pershing analyst, that Pershing planned to publicly announce its negative view of Herbalife. That individual then tipped a friend, who purchased Herbalife one day before the announcement and consequently reaped illicit profits. See : SEC Press Release; SEC Order

The SEC announced that, when fiscal year 2015 starts on October 1, 2014, the SEC expects to be operating under a continuing resolution that will extend until December 11, 2014. Therefore, the fees paid will remain at their current rate until 60 days after the enactment of a regular appropriation. The fee rate will remain at the current rate of $22.10 per million for securities transactions, and the assessment on round-turn transactions in security futures will remain at $0.0042 per transaction. See: SEC Press Release.

A minor correction to the SEC final rule regarding asset-backed securities disclosure and registration was published in the Federal Register. In Item 601, "Exhibits," the entry corresponding with number (31) in column 10-Q in the "Exhibit Table" should read "X." Additionally, in the Appendix to § 229.1125, "Schedule AL," the entry for paragraph (b) should read: "If the asset pool includes asset-backed securities issued after November 23, 2016, provide the asset-level information specified in § 229.1111(h) for the assets backing each security in the asset pool." See: 79 FR 58674. Related news