Jan 10, 2012 - Back Office Meeting Agenda

The agenda for the January Back Office meeting is shown below:

Meeting Details: 
  • When: Tuesday, January 10, 2012 @ 11 AM ET

Meeting Agenda:

  • DTCC Proposal on Shortening Settlement Cycle (Elena Staloff, DTCC) (see attached)
  • Cost Basis Update (Brian Godfrey, Charles Schwab)
    • FIF Cost Basis Portal 
    • Next FIF Cost Basis WG Meeting: Jan 19 @ 12 PM ET 
  • Proposed IRS Cost Basis Regulations on Debt and Options Comment Deadline: Feb 23, 2012; IRS Open Hearing: Mar 16, 2012 
  • Large Trader Reporting 
    • FIF Large Trader Portal 
    • Dec 22, 2011: FIF Letter to the SEC and ISG on EBS Record Layout and Large Trader 
    • Dec 13, 2011: Regulatory Notice 11-56 – FINRA and ISG Publish Enhanced EBS Record Layouts 
    • FIF Large Trader Reporting WG Update 
  • OATS Update 
    • OATS Elimination of Account Type Code ‘R’ 
    • FIF OATS for NMS Post-Implementation Survey Report 
  • FATCA 
    • FIF FATCA WG Meeting – Jan 20, 2012 @ 11 AM ET (Tentative) 
    • Dec 21, 2011: IRS Releases Guidance on Foreign Financial Asset Reporting 
    • Dec 21, 2011: Form 8938, Statement of Foreign Financial Assets - Do I Need to File Form 8938? 
    • Dec 19, 2011: Reporting of Specified Foreign Financial Assets – Comments on Collection of Information by Feb 17, 2012; Written or electronic comments and requests for public hearing by Mar 19, 2012 
    • Dec 15, 2011: Explanation of Section 6038D Temporary and Proposed Regulations 
    • Oct 11, 2011: FIF Member Questions (Feedback received from IRS) 
    • Foreign Account Tax Compliance Act o Jul 14, 2011: IR-2011-76 – Treasury and IRS Issue Guidance Outlining Phased Implementation of FATCA Beginning in 2013 
  • FINRA TRACE Updates 
    • Dec 21, 2011: FINRA Addresses Frequently Asked Questions About TRACE Reporting Issues 
    • Dec 14, 2011: Reporting of Corporate and Agencies Debt Frequently Asked Questions – Effective February 6, 2012 
  • Treasury Market Practices Group 
    • Dec 29, 2011: MBS202.11, MBS223.11 – TMPG Update 
    • Dec 19, 2011: GOV173.11 – Approval of Rule Filing – SR-FICC-2011-08 - Expansion of Fails Charge 
    • Nov 30, 2011: TMPG Statement on Fails Charge Recommendations – Effective Date: Feb 1, 2012 
  • Additional Updates 
    • Dec 29, 2011: MBS220.11 – Q1, 2012 Project Roll-Out 
    • Dec 09, 2011: MBS203.11 – Additional Member Information Webinars - Proposed Changes to the MBSD Clearing Fund Methodology 
  • Feb 28: FIF 2012 Quarterly Event in NY hosted by Thomson Reuters 
  • Next Meeting Date: Feb 14 @ 11 AM ET