NFA issued amendments to Section 10 ("Late Financial Transactions") and Section 13 ("Forex Dealer Daily Reports") of NFA Financial Requirements Rules and Compliance Rule 2-48 ("Forex Member Daily Trade Data Reports"). The proposed amendments would increase fees for late financial and regulatory filings from $200 to $1,000 each business day the filing is late. See: Text of Proposed NFA Rule Change.

The SEC published two final rule releases involving broker-dealer regulation in the Federal Register. The first final rule release adopts certain broker-dealer annual reporting, audit, and notification requirements. The second final rule release amends financial responsibility, capital, and custody rules for broker-dealers outlined in the Exchange Act. The first release is summarized below; the second release wassummarized in our news report of July 31. The release relating to reporting is intended to increase the internal procedural requirements and external checks around a broker-dealer's

President Obama hosted a meeting with lead financial regulators to discuss the progress made in strengthening the financial regulatory system, including Dodd-Frank implementation. Linked below is the press release for the meeting. See: White House Press Release.

The CFTC held external meetings regarding cross-border issues. Meetings: Blackrock, Fidelity, Goldman Sachs, Jones Day, MFS, Wellington, SIFMA.

MFA released its August Policy Brief, which focuses on important global hedge fund industry headlines, as well as recent MFA advocacy and education initiatives. Click here to view MFA Policy Brief in full (links externally to MFA website).