The Board of Directors of National Futures Association ("NFA") re-elected Christopher K. Hehmeyer to serve a one-year term as Chairman.The Board also re-elected Michael C. Dawley to serve as Vice Chairman. See: NFA Press Release.

Nasdaq Group announced that it plans to implement a risk management tool commonly known as a "Kill Switch," which would cut off trading of its member firms when pre-set limits are breached, according to a regulatory filing. All three exchanges of the Group stated that the functionality plans are to be available free of charge by March 1, 2014. Lofchie YouTube Selection: Video on How to Install a Kill Switch in Your Car. See: Nasdaq Filing with SEC; Nasdaq OMX BX Filing with the SEC; Nasdaq PHLX Filing with the SEC.

The Second U.S. Circuit Court of Appeals in New York ruled (in a 2-1 decision) that former Jefferies Group portfolio manager, Joseph Contorinis, must pay over $9 million in fines for illegal profits and civil forfeiture regarding alleged insider trades from the firm's Paragon Fund. Currently, Contorinis is serving a six-year prison term following his 2010 conviction for trading securities in Albertsons Inc. ahead of its 2006 buyout by Supervalu Inc., CVS Corp. Bondi Comment: The Second Circuit applied disgorgement in a punitive nature, but, as Judge Chin correctly explained in his dissent

The CFTC republished a revised chart summarizing which swaps are subject to "made available to trade" ("MAT") determinations. The new table shows the terms of the MAT interest rate swaps and credit default swaps as of February 18, 2014. The chart was originally published by the CFTC on February 10. See: Swaps MAT Chart. See also : Compendium of Links to SEF Rules (subscriber).

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued no-action relief to a CPO, with respect to a single-member pool (where the single member controlled the pool), from the requirements under CFTC Rules 4.7(b)(3) ("Relief Available to Commodity Pool Operators") and 4.22(d)(1) ("Reporting to Pool Participants") to audit its financial statements in the annual report for the fiscal year ending on December 31, 2013. The relief granted is conditioned on the CPO's filing with the National Futures Association ("NFA") an unaudited 2013 Annual Report for the pool that otherwise