In this issue:

- Mary Jo White, Nominee for Chair of the SEC, Appears Before Senate Banking Committee

- SEC Proposes Rules Regarding Technology Systems

- FINRA Amends Rules to Address Extraordinary Market Volatility

- FINRA Changes Membership Application Fees

- SEC Approves OBS Supplemental Schedule

- FCMs Required to Have Chief Compliance Officer by March 29

- CFTC Reminds Market Participants of Swap Data Reporting Requirements

- SEC Risk Alert Identifies Common Adviser Custody Rule Deficiencies

- Texas District Court Addresses Misappropriation Theory of Insider Trading

- Excerpt from "Texas District Court Addresses Misappropriation Theory of Insider Trading"

The US District Court for the Northern District of Texas recently denied a defendant’s motion for summary judgment in a Securities and Exchange Commission civil enforcement action under the “misappropriation” theory of insider trading, finding that an implicit agreement may be sufficient to establish liability.