The SEC issued an Exemptive Order to ETFs that seeks to track the performance of a particular underlying index ("Index"), which for each ETF is composed of shares of exchange-traded products ("ETPs") (primarily other ETFs, but also some exchange-traded commodity pools). Using a methodology developed by the index provider as to the ETFs, each Index is intended to provide exposure to the price momentum of certain equity markets and U.S. fixed income markets by reflecting the combination of weightings of the ETPs that underlie each Index that would have provided the highest six-month historical

In this two-part series on the continuing education counsel's fall 2012 firm element advisory, FINRA is providing guidance on several regulatory and sales practice issues that firms should consider when creating their training programs. Topics include: Municipal Securities An issued guidance stating that G17 also applies to underwriters of municipal securities; A new MSRB Rule (eff. 12/22/2012) affirms duty of a broker's broker to make a reasonable effort to obtain a fair, reasonable price for municipal securities; MSRB amended its record-keeping rule; MSRB revised definition of a

The federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define "small bank," "small savings association," "intermediate small bank," and "intermediate small savings association" under the Community Reinvestment Act ("CRA") regulations. Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. Those meeting the small and intermediate small asset-size threshold are not subject to the reporting requirements applicable to large banks. The annual adjustments are required by the CRA

The CFTC has announced and notified ICE Futures U.S. of the results of a rule enforcement review completed by the CFTC's Division of Market Oversight. The Division assessed the Exchange's compliance with new Core Principle 13, which relates to the Exchange's disciplinary program. The Division found that the Exchange maintains an adequate disciplinary program, although the Division did make a number of suggestions as to refinement of the program. Click here to view report in full (links externally to CFTC website).

"Dear Chairman Gensler, I have many questions . . . ," is the second series of questions posed by John Sodergreen, editor-in-chief of the Energy Metro Desk, which is addressed primarily to CFTC staffers. The questions request "down-in-the weeds details" that Metro Desk's readers might have regarding compliance with Dodd-Frank requirements "in the hopes that some CFTC staffer" will read them and respond "with some clarity on the subject." This week's edition includes questions relating to Client Chronic Fatigue Syndrome regarding proposed compliance deadlines, and ad hoc no-action actions by