The CFTC announced that the defendants allegedly solicited approximately $13 million from approximately 198 participants in two investment pools. The CFTC announced that a Federal court had entered an emergency order freezing defendants' assets and protecting books and records. View release in full here(links externally to CFTC website).

A sensible rule change given that creation/redemption of an ETF by deposit of the underlying units is really just a change in the form of ownership rather than an economic trade. View notice in full here(links externally to SEC website).

Firms should consider whether the rule change will (or should) have any impact as to where they trade, and if so, how does that impact best execution. (Under the rule, firms may aggregate their own trading volume with that of their affiliates) View release in full here(links externally to SEC website).

Like the rule on trading pauses, focus on rules governing clearly erroneous trades resulted from the flash crash. See Broker-Dealer Guide, Trading Chapter. View release in full here(links externally to FINRA website).

Trading pauses were adopted on a pilot basis following the flash crash. See the discussion in the Broker-Dealer Guide, Trading Chapter, Section VII. View release in full here(links externally to FINRA website).