The SEC voted unanimously to propose rules under the JOBS Act to permit companies to offer and sell securities through crowdfunding. The JOBS Act established a foundation for the regulatory structure for crowdfunding. The proposed rules would, among other things, permit individuals to invest subject to certain thresholds, limit the amount of crowdfunded money a company can raise, require companies to disclose certain information about their offers, and create a regulatory framework for the intermediaries that would facilitate the crowdfunding transactions. Among the proposed rules: A company

The National Futures Association's ("NFA") recent amendments to Section 10 ("Late Financial Transactions") and Section 13 ("Forex Dealer Daily Reports") of the NFA Financial Requirements Rules, as well as NFA Compliance Rule 2-48 ("Forex Member Dealer Daily Trade Data Reports"), will be effective on December 2, 2013. See: NFA Notice I-13-32. Related news: NFA Issues Proposed Amendments to Increase Late Reporting Fines (August 22, 2013).

NASAA announced the waiver of the Investment Adviser Registration Depository ("IARD") system fees for investment adviser firms and the continuation of substantially reduced initial set-up and annual system fees paid by investment adviser representatives ("IARs"). The initial IARD set-up and renewal fee, which was originally $45 when the system became operational, will now be $10 for IARs. The IARD system is an online national database sponsored by NASAA and the SEC to provide investment advisers and their representatives with a single source for filing state and federal registration and notice

FINRA released a regulatory notice to solicit comments on a set of proposed rules and related forms for SEC-registered funding portals that would become FINRA members pursuant to the crowdfunding provisions of the JOBS Act. The proposed Funding Portal Rules consist of the following set of seven rules (and their related forms): Funding Portal Rule 100 (General Standards); Funding Portal Rule 110 and Forms (Funding Portal Application); Funding Portal Rule 200 (Conduct); Funding Portal Rule 300 (Compliance); Funding Portal Rule 800 (Investigations and Sanctions); Funding Portal Rule 900 (Code of

According to an MFA blog post and a Reuters news item, Commissioner Wetjen has stated that the CFTC is considering dropping its appeal to defend its current position limits rule and is nearing the completion of a revised rule, with the goal of getting "position limits in place as quickly as possible." Commissioner Wetjen laid out three different "tracks" which the position limits rule can take: (i) an appeals track through the U.S. court system; (ii) a rulemaking trade through the CFTC; or (iii) a combination of appeals and rulemaking. Click here to view blog post in full (links externally to