FINRA filed a proposed rule change to amend FINRA Rule 11892 ("Clearly Erroneous Transactions in Exchange-Listed Securities") to extend the effective date of the clearly erroneous pilot, which currently is scheduled to expire on September 30, 2013. FINRA also proposed to remove certain references to individual stock trading pauses contained in Rule 11892. See : FINRA Press Release; Text of the Proposed Rule Change.

Seven federal regulatory agencies, including the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the FDIC, the Federal Trade Commission, the National Credit Union Administration, the Office of Comptroller of the Currency, and the SEC, issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected financial abuse of the elderly (which is defined to include "the illegal or or improper use of an older adult's funds, property or assets") to appropriate authorities. Lofchie

The Board of Governors of the Federal Reserve System ("FRB") issued two interim final rules intended to clarify how companies should incorporate the Basel III regulatory capital reforms into their capital and business projections during the next cycle of capital plan submissions and stress tests. Rules to implement the Basel III capital reforms were finalized in July, and will be phased in beginning in 2014 or 2015, depending on the size of each banking organization. The FRB's first interim final rule applies to bank holding companies with $50 billion or more in total consolidated assets, and

FINRA released a September 2013 podcast in which Executive Vice President of Regulatory Operations Susan Axelrod provided an update on FINRA's examination program, including a newly implemented process for submitting examination-related documents through the Firm Gateway. In the podcast, Axelrod described changes to the exam program that have made it more risk-based. Additionally, she explained the new electronic data collection process which aims to avoid examiner paperwork, as well as organizes firm requests to FINRA so as to avoid duplicative requests to multiple departments. To listen to

The CFTC approved the application of INFX SEF Inc. for temporary registration as a swap execution facility ("SEF") pursuant to CEA Section 5h ("Swap Execution Facilities") and CFTC Rule 37.3(c). See : CFTC Letter to INFX SEF; CFTC Press Release. Related News : CFTC Issues Notice of Temporary SEF Registration to 360 Trading Networks Inc. (September 23, 2013) CFTC Issues Notice of Temporary SEF Registration to Javelin SEF, LLC and BGC Derivative Markets, L.P. (September 19, 2013) CFTC Issues Notice of Temporary Registration as SEFs to SwapEx, LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corp