The FINRA proposal to amend FINRA Rule 9620 to permit FINRA staff to electronically serve written decisions on members seeking exemptive relief from qualification examination requirements under NASD Rule 1070 was published in the Federal Register, effective immediately. The rule change was deemed noncontroversial by the SEC and is therefore immediately effective, but comments can still be submitted by August 13, 2014. See: 79 FR 42850. Related news: FINRA Proposes Rule Relating to Electronically Written Decisions on Members Seeking Exemptive Relief under NASD Rule 1070 (July 9, 2014).

FINRA released the second podcast of a two-part series regarding individual retirement account ("IRA") rollovers. The podcast discusses firms' responsibilities, including conflicts of interest when recommending a rollover into an IRA, marketing IRAs, and other related services. FINRA explained that a representative who recommends rolling over assets into an IRA will typically earn commission, asset-based advisory fees or other fees in connection to the IRA. However, if the representative recommends that the investor leave the plan assets with the old employer or move them to a new employer's

SIFMA, ISDA and the Institute of International Bankers (the "Associations") submitted to the Court an opposition to the CFTC'srecent motion to file a supplemental declaration ("Motion") in the lawsuit filed against the CFTC Cross-Border Guidance. The CFTC's supplemental declaration consisted of a declaration from CFTC Assistant General Counsel, Martin B. White, and two additional documents that, according to the CFTC, contradict "the positions SIFMA and other Plaintiffs have taken on key legal points in this case." Specifically, the two exhibits include (i) a document titled "Note Regarding

The CFTC Division of Market Oversight ("DMO") issued a time-limited no-action letter that provides additional time for parties to comply with certain reporting requirements of the ownership and control final rule ("OCR Final Rule") under CFTC Rules Part 17, Part 18 and Part 20. Specifically, DMO granted relief from the requirement to file trader identification and reporting forms electronically, and to provide certain additional information required by the OCR Final Rule. DMO stated that it issued the no-action relief to provide market participants additional time to build and test systems for

The SEC charged a partner at the investor relations firm Cameron Associates with insider trading on the confidential information he learned about two clients while helping to prepare their press releases. According to the SEC complaint, the partner sold his shares in Misonix Inc. upon learning that the company was set to announce disappointing financial results. Additionally, the partner bought stock in Clean Diesel Technologies Inc. when he learned about the company's impending announcement of positive news, and profited when its stock price nearly doubled. In both cases, the partner learned