FINRA filed with the SEC a proposed rule change to amend FINRA Rule 2210 ("Communications with the Public") and FINRA Rule 2214 ("Requirements for the Use of Investment Analysis Tools"). The rule change would amend Rule 2210 to exclude from the filing requirements any research reports concerning only securities listed on a national securities exchange, other than those that must be filed pursuant to Investment Company Act Section 24(b) ("Registration of Securities under Securities Act of 1933"). The proposed rule would also clarify that free writing prospectuses that are exempt from filing

Linked below is an article featured in the Energy Metro Desk series, "Drums along the Potomac," which examines a shift in the discussion regarding high-frequency trading ("HFT") at the recent CFTC Technology Advisory Committee ("TAC"). According to the article, rather than discussing how to shut down HFT, participants in the TAC meeting shifted the conversation toward "new calls for more sophisticated pre-trade risk controls." CFTC Commissioner Scott O'Malia stated that the TAC has been researching the matter thoroughly in order to assess what gaps there might be in policy and risk management

The Honorable Katherine Polk Failla, U.S. District Judge for the Southern District of New York, entered final judgments against seven defendants in the pending enforcement action arising from a "pay-to-play" scheme involving the New York State's Common Retirement Fund. Beginning on March 19, 2009, the SEC filed securities fraud and related charges against several participants in the scheme, including Henry Morris, the top political advisor to former New York State Comptroller Alan Hevesi, and David Loglisci, formerly the Deputy Comptroller and the Common Fund's Chief Investment Officer. The

The CME Group announced that it received approval from the United Kingdom's Financial Conduct Authority ("FCA") to start a London-based derivatives exchange. The initial commodity products to be listed on the exchange include biodiesel commodity products, which have previously been cleared as swaps on CME Clearing Europe. The new exchange, CME Europe Ltd., will be a Recognized Investment Exchange and will launch on April 27, 2014.

CFTC Acting Chairman Wetjen spoke at the International Futures Industry Conference discussing the need for a harmonized regulatory regime for global derivatives markets. Chairman Wetjen stated that, in order to achieve a harmonized regulatory regime, regulation must (i) "always be cognizant of reality" and (ii) be appropriately harmonized across legal jurisdictions. He went on to state: "The paramount objectives of derivatives regulations must be to support a global market structure that promotes open, transparent, and liquid markets and sound risk-management practices at the firms operating