The SEC obtained a $13.9 million penalty against former Goldman Sachs board member, Rajat K. Gupta, for illegally tipping corporate secrets to former hedge fund manager Raj Rajaratnam. In addition to receiving the penalty, Gupta is permanently barred from serving as an officer or director of a public company, and from associating with any broker-dealer, or investment adviser. See: SEC Press Release. See also: SEC Obtains Final Judgment on Consent as to Raj Rajaratnam (December 27, 2012); SEC Charges Silicon Valley Executive for Role in Galleon Insider Trading Scheme (October 26, 2012).

CFTC Chairman Gensler announced that Christopher Ehrman has been named the new director of the CFTC Whistleblower Office. The Whistleblower Office, created by Dodd-Frank, may reward individuals who voluntarily provide original information about violations of the Commodity Exchange Act. See: CFTC Press Release.

The CME Group Executive Chairman and President, Terry Duffy, is scheduled to testify before the U.S. Senate Agriculture Committee hearing, "Reauthorization of the CFTC." See : Senate Agriculture Committee Hearing Overview. See also : CME Group News Release.

The SEC announced that, after more than 23 years of service, Kenneth R. Lench will leave the agency for the private sector at the end of July. See: SEC Press Release.

NASAA has released a notice of request for public and internal comment on the proposed changes to the Judgement-Lien Disclosure Reporting Page ("DRP") on Form U4. The proposed change to Form U4 would add a second question to Item 4 and more closely align the disclosure of a judgment/lien to when an individual learns of the information. The comment period will remain open until August 19, 2013. See: Judgment/Lien DRP with Proposed Additions PDF; NASAA Press Release.