Opening Statement, Inaugural Meeting of the Data Standardization Subcommittee August 5, 2011 Opening Statement of Commissioner Scott O'Malia Event Details

Wall Street Journal August 8, 2011 In a letter to the editor, CFTC Commission Scott O'Malia criticizes the agency for not engaging in adequate cost/benefit analysis on rules to implement Dodd-Frank. He calls for the CFTC to "to engage in more rigorous, quantitative analyses of the costs and benefits of our over 50 proposed rule makings and 14 final ones under the Dodd-Frank Act . . . The CFTC should proactively review the cost-benefit analyses of every rule making, focusing on quantification and detailing our rationale for choosing certain prescriptive requirements, especially if principles

FINRA RN 11-36 August 3, 2011 FINRA filed an amendment to Section 4 of Schedule A of the FINRA By-Laws to establish a fee for persons who cancel or reschedule a qualification exam or Regulatory Element Continuing Education session three to ten business days prior to the appointment date. The new fee is effective September 1, 2011. Cross References SEC Release No. 34-64691 (Rule change) FINRA Rule 1250

FINRA RN 11-35 July 29, 2011 FINRA published a regulatory notice regarding modified procedures by which firms designate their method of allocating options exercise notices. The notice provides a new application for firms beginning an options business or changing their allocation method. In addition, FINRA updated the "random selection allocation procedures," included in the notice. FINRA also reminds firms that they must inform customers in writing of the method used to allocate option exercise assignment notices - including an explanation of the systems and the consequences of the system. The

FINRA RN 11-37 August 5, 2011 FINRA published a regulatory notice to inform firms of the recently-approved expansion of its trading pause pilot rule to include all NMS stocks.The rule previously covered only stocks in the S&P 500, Russell 1000 and certain exchange-traded products.The rule generally provides that a primary market will halt or pause trading in a security when its price declines 10% or more in a rolling five-minute period. Cross References FINRA Rule 6121 SEC Release No. 34-64735 (approval of rule change) FINRA RN 10-30 and RN 10-43 (re. trading pause pilot) Lofchie’s Guide to