SEC Chairman Mary Jo White delivered remarks on the recently released FINRA Investor Education Foundation's 2012 National Financial Capability Study. In her statement, Ms. White discussed the study's findings on investor capability, explaining that many Americans struggle in retirement, come out of college with debt, or suffer disproportionately high losses in their stocks because they were never exposed to the basics of finance. Ms. White further cited several SEC initiatives to remedy the deficiency in American financial literacy and facilitate investor education, including the following: a

FINRA released its podcast for May 29, 2013, focusing on how FINRA's Communications with the Public rule applies to electronic communications. This was the first of a two-part series. The new rule reduces communication categories from six to three: institutional communications, retail communications and correspondence. The three categories are defined with written communication being the focus, as well as what is considered written communication for all three categories. The rule also details suitability, FINRA review, approval and record-keeping requirements, as well as the difference between

The CFTC issued an Order filing and simultaneously settling charges against an FCM for failing to diligently supervise its officers and employees relating to its business as an FCM in violation of Commission Rule 166.3. The FCM failed to implement adequate customer credit and concentration risk policies and controls in 2008 and part of 2009, allowing one account ("Account") to acquire a massive options position that it could not afford to maintain. Ultimately, the FCM was forced to take over the Account and lost a substantial sum. The Order requires the FCM to pay a civil monetary penalty of

The ICE is implementing a change to Block Trade provisions for certain Currency Pair futures contracts. Effective Date: June 11, 2013. See: Notice.

The SEC approved amendments to the MSRB Rule G-39, on telemarketing that expand the scope of the rule to include additional provisions which are substantially similar to Federal Trade Commission ("FTC") rules prohibiting deceptive and other abusive telemarketing acts or practices. Rule G-39 requires brokers, dealers, and municipal securities dealers ("dealers") to, among other things, maintain do-not-call lists and limit the hours of telephone solicitations to customer residences. Effective Date: August 22, 2013. See: MSRB Notice 2013-12.