THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 25 1 - 7 AUGUST 2013 www.wallstreetletter.com
IN THIS ISSUE News People moves 04 Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
Nasdaq CEO expects growth for NLX in Fall
Bob Greifeld, CEO of Nasdaq OMX Group, expects the company to see growth of its newest market, Nasdaq OMX NLX TURN TO PAGE 04
Industry players sour on FINRA changes
BY JEANENE TIMBERLAKE
Bonds.com eyes enhancements
Bonds.com is looking at enhancements it can make to its support product for ETF traders TURN TO PAGE 06
BNP Paribas plans to educate on AIFMD
BNP Paribas Securities Services is gearing up to help educate asset managers in the US TURN TO PAGE 09
Some industry participants are not happy with a private placement proposal from FINRA that would add on to rules it filed just over a year ago that require FINRA members to file any documents being used related to sales of the securities, according to comment letters from the groups. FINRA’s Rule 5123, which became effective in December, requires its members to file offering documents, like private placement memos or term sheets, with the agency within 15 days after the first sale by the member. Last month, FINRA amended
the rule to add questions to the form that focus on what it called “due diligence-related information”, such as whether the issuer has independently audited financial statements, and whether the issuer has a board of directors made up of mostly independents, among other things. FINRA proposed members could respond “unknown” to the six questions it will add to the form to limit the obligation on members to gather new information. But the Managed Funds TURN Association asked the TO PAGE SEC to disapprove the rule in its comment letter. 03
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