The SEC announced that Rhea Kemble Dignam will serve as senior counsel to the director of its Office of Compliance Inspections and Examinations. Liban Jama will succeed Ms. Dignam as the SEC's new Director of the Atlanta Regional Office. Ms. Dignam and Mr. Jama are scheduled to begin their duties later this fall. See: SEC Announcement Regarding Ms. Dignam; SEC Announcement Regarding Mr. Jama.

The SEC issued an order to the NASDAQ Stock Market LLC ("NASDAQ") granting an extension of the limited exemption from Rule 612 ("Minimum Pricing Increment") of Regulation NMS in connection with the operation of NASDAQ's Retail Price Improvement Program. On February 15, 2013, the SEC granted a limited exemption to NASDAQ concurrent with the approval of NASDAQ's proposal to adopt the Retail Price Improvement Program. Both the pilot program and the exemption are scheduled to expire on September 30, 2014. For that reason, the limited exemption was extended until December 31, 2014, and allows

MFA submitted a comment letter to the SEC requesting that the comment period on a proposed Tick Size Pilot Program be extended from 21 to 60 days. In the letter, MFA explained that the Tick Size Pilot Program is complex and raises a number of policy and "practical issues" for investors to consider. Therefore, MFA stated, additional time is needed to evaluate the program fully. Lofchie Comment: Rather than rushing the process of evaluating the tick size program, the SEC ought to plan a series of independent programs to test different trading rules. The "trade at" test, which the SEC is

The Futures Industry Association ("FIA") interviewed CFTC Chair Massad regarding his agenda as Chair of the CFTC. Chair Massad explained that, as the chair of an agency that is at the "forefront of regulating some of the most interesting developments in financial markets," he feels that his position at the CFTC affords him the opportunity to address the causes of the financial crisis. Chair Massad mentioned that, while he was an attorney working in private practice, he helped to draft the ISDA agreements in 1986-1987, which contributed to his appreciation of the importance of cross-border

In the latest installment of the Energy Metro Desk series "Around the Desk," editor-in-chief John Sodergreen reports that he spoke with CFTC Commissioner J. Christopher Giancarlo about the CFTC's open meeting on margin requirements and utility special entities, as well as Commissioner Giancarlo's new role as sponsor of the CFTC Energy and Environmental Markets Advisory Committee. Commissioner Giancarlo stated that, in his new committee position, he will focus on improving the efficiency of U.S. energy markets. In the immediate future, Commissioner Giancarlo explained, his committee will