European Commission July 26, 2012 The European Commission has launched a consultation on a future framework for investments funds. Key questions in the consultation focus on (i) the regulation of money market funds, (ii) the fund industry's involvement in securities lend and repo arrangements and (iii) the industry's exposure to OTC derivatives that will become subject to clearing. Responses to the consultation should be submitted by October 18, 2012.

Administrative proceedings to revoke a firm's registration under the Exchange Act where the SEC has alleged its filings are materially insufficient. Cross Reference(s): Exchange Act Section 12(j). View action in full here (links externally to SEC website). Additional Materials: SEC Litigation Release

No-action letter permitting the operation of a technology service that facilitates broker-to-broker communications regarding, among other things, trade routing instructions, without registration of the service as itself a broker-dealer. In addition to serving as a communications engine, the service also provides a variety of analytic tools intended to evaluate execution quality; however, the service would not itself make routing decisions based on those analytics. The service would charge fees based on, among other things, message levels, but the service would not impose fees that were

Corrliex is a vendor that sold technology that measured the latency of orders on the Phlx. Phlx reported that the discontinuation was due to a lack of customer interest in the tool. View release in full here (links externally to SEC website).

View release in full here (links externally to SEC website).