The NFA submitted amendments to the CFTC regarding NFA Bylaws and Rule 3-17 (Composition of Committees). The amendments would modify the NFA's committee structure in a few respects, but the majority of the changes are to the by-laws, and concern the new types of registrants that would become NFA members, including swap dealers, major swap participants and retail foreign exchange dealers. See: Text of Proposed Amendment.

The Basel Committee on Banking Supervision and the International Organization of Securities Commissions ("IOSCO") released the final framework for margin requirements for non-centrally cleared derivatives. Under these global standards, all financial firms and systemically important non-financial entities that engage in non-centrally cleared derivatives will have to exchange initial and variation margin commensurate with the counterparty risks arising from such transactions. Below are key principles set out in the framework. Appropriate margining practices should be in place with respect to all

The CFTC issued an Order filing and settling charges against Macquarie Futures USA LLC for a one-day technical miscue that resulted in the firm's maintaining customer funds in the incorrect bankruptcy-protected account, violating CFTC Regulation 30.7 and resulting in a penalty of $150,000. The violation occurred in connection with the conversion of certain off-exchange instruments into on-exchange products. On October 15, 2012, ICE Clear Europe had converted its existing OTC swaps and options to U.S. exchange-listed futures and options to be listed for trading on ICE Futures U.S. Energy

FINRA updated the form that firms must use to file offering documents and information pursuant to FINRA Rule 5123 ("Private Placements of Securities") and Rule 5122 ("Private Placements of Securities Issued by Members"). The updated form includes six new questions, as well as an update to the Private Placement Form Frequently Asked Questions. See: FINRA Reg. Notice 13-26; Sale of Private Placements FAQs.

The SEC announced that three whistleblowers have been awarded more than $25,000 combined for tips and information which they provided to help the SEC and the Justice Department stop a sham hedge fund. The order states that two of the whistleblowers provided information that prompted the SEC to open an investigation and stop the scheme before more investors were harmed. The third whistleblower identified key witnesses and confirmed information the other two whistleblowers provided. See: SEC Order; SEC Press Release.