In a speech at the SIFMA CL New York Regional Seminar, FINRA Chairman and CEO Rick Ketchum discussed how technological advances in the areas of data, risk analytics and surveillance are changing the way FINRA approaches market regulation. Chairman Ketchum envisions a "new day in regulation" that will harness the power of big data and technology to protect investors. In his remarks, Chairman Ketchum stated that, while FINRA is at the very early stages of a new era of big data and cloud computing, there is transformative potential for regulation. Observing that FINRA already collects vast

FINRA has issued a new Investor Alert intended to explain what closed-end funds are, how they differ from traditional mutual funds, what a distribution rate is and what to ask before investing. FINRA's new investor alert (linked below) explains that closed-end funds are similar to mutual funds, but unlike mutual funds (which continuously sell newly issued shares and redeem outstanding shares), most closed-end funds offer a fixed number of shares in an initial public offering which are then traded on an exchange. This investor alert urges investors to ask the following six questions before

The CFTC is asking for public comment on an application by Singapore Exchange Derivatives Clearing Limited for registration as a derivatives clearing organization. Comments Due: November 12, 2013. Click here to submit comments electronically to the CFTC. See: CFTC Press Release.

The CFTC filed the notice linked below in a position limits litigation, advising the court that if the CFTC votes at the November 5 meeting to issue a new proposed position limits rule that is supported by a cost-benefit analysis, then the Commission will voluntarily dismiss its appeal of a decision that it could not impose position limits without performing such an analysis. Lofchie Comment: A significant amount of academic literature argues against the imposition of position limits. This viewpoint should receive a fair hearing from all of the Commissioners. See: CFTC Notice to Court

The CFTC has announced an opportunity for public comment on a proposed collection of information by the CFTC's Office of Consumer Outreach ("OCO"). OCO develops campaigns to change consumer behaviors so that consumers can better avoid fraud as defined under the CEA. The CFTC is posing survey questions to the public. This survey will include screening questions to identify the correct respondents and questions to determine the optimal messages to help consumers identify, avoid and report financial fraud as part of a consumer-facing anti-fraud campaign. See: 78 FR 64202.