FINRA released the second podcast in a five-part series providing an overview of FINRA's 2014 examination priorities. This podcast focuses on recidivist brokers, conflicts of interest, cybersecurity, qualified plan rollovers, suitability and due diligence of private placements. Recidivist brokers: A small number of brokers have demonstrated a pattern of complaints or disclosures for sales practice abuses that could harm investors as well as the reputations of the securities industry and financial markets. In 2014, FINRA will expand the high-risk broker program and create a dedicated

Nineteen Congressional Democrats filed a motion for leave to file an amicus brief asking the U.S. Circuit Court of Appeals for the District of Columbia in support of the CFTC's issuance of issuance of Cross-Border Guidance, SIFMA v. CFTC, No. 13-cv-1916 (ESH). The amici oppose relief sought by a group of trade associations challenging the CFTC's Cross-Border Guidance, which in their words, would "allow swaps-market participants to evade United States regulation of almost the entire global swaps market by the expedients of trading swaps through foreign subsidiaries or booking swaps on foreign

The CFTC announced that it is seeking public comment on certain rule amendments self-certified by ICE Swap Trade, LLC ("ICE Swap Trade") concerning the treatment of "package transactions." The CFTC is requesting that the public consider the following questions in preparing comments regarding the certification: What are the current prevailing market conventions regarding the execution of package transactions? Do package transactions comply with the definition of "block trade" set forth in CFTC Rule 43.2 ("Definitions")? Please identify each legal, economic and business rationale for permitting

In a speech before the Consumer Federation of America ("CFA"), SEC Chair Mary Jo White discussed the SEC's role in investor advocacy, and stressed the common goal the SEC and CFA share in their effort to protect retail investors in securities markets. According to Chair White, the majority of American households today are involved in the securities markets through stock or other investment vehicles, noting that retail investment in 2014 remains focused on retirement and education. To protect these investors, Chair White highlighted the importance of the work of the SEC Office of Investor

SIFMA submitted comments to FINRA regarding the concept proposal to develop a Comprehensive Automated Risk Data System ("CARDS"). The Association stated it cannot support the CARDS proposal. The CARDS proposal would allow FINRA to collect on a standardized, automated and regular basis, information relating to account ownership, account activity and security identification. SIFMA stated that the current proposal lacks information about required data elements, data standardization, other technical details regarding the reporting platform, transmission methods, an analysis of other current and