January 14, 2014 - Back Office Meeting Agenda

Meeting Agenda

  • DTCC Updates
    • NSCC Updates
      • Jan 09, 2014: SR-NSCC-2013-11 - Order Approving Proposed Rule Change to Add a New Service to the National Securities Clearing Corporation’s Obligation Warehouse (“OW”) Which Would Pair Off and Close Certain Open Obligations, Reducing the Number of Open Obligations in OW; See Also A7665
      • Jan 09, 2014: A7721 - Enhanced Password Requirements: Revised; See also GOV082-13 Notice, 1789-13 DTC Notice and MBS187-13 Notice
      • Jan 07, 2014: A7664 - Reminder: Testing Obligation Warehouse's Proposed Pair Off Function
      • Jan 07, 2014: A7663 - Real-Time Trade Submission Implementation - February 14, 2014
      • Jan 03, 2014: A7662 - Year 2014 Obligation Warehouse Recaps Schedule
      • Dec 24, 2013: A7757 - 2013-2014 NSCC Member Handbook
      • Dec 20, 2013: SR-NSCC-2013-13 - Notice of Filing of Proposed Rule Change to Discontinue its Stock Borrow Program
      • Dec 17, 2013: A7756 - I&RS 2014 March Enhancement Release
    • DTC Updates
      • Dec 19, 2013: B2127-13 - Settlement Matching Phase 3 Update
      • Dec 18, 2013: SR-DTC-2013-11 - Notice of Filing of Proposed Rule Change to specify procedures available to issuers of securities deposited at DTC for book entry services when DTC imposes or intends to impose restrictions on the further deposit and/or book entry transfer of those securities; See also B2170-13
      • Dec 17, 2013: B2124-13 - 2013-2014 DTC Member Handbook
    • FICC Updates
      • Jan 06, 2014: GOV001.14 - Parallel Period Regarding Planned Changes to Intraday Margining of GCF Repo Activity to Begin on January 13, 2014
      • Dec 26, 2013: GOV104.13 - 2013-2014 Government Securities Division Member Handbook
      • Dec 23, 2013: GOV105 - SR-FICC-2013-09 - Notice of Rule Filing Approval Regarding Floating Rate Notes
      • Dec 16, 2013: MBS214.13 - Capped Contingency Liquidity Facility® Reset Reminder
  • OCC Updates
    • Jan 02, 2014: 33870 - Clearing Fund Status Report (See Attached)
    • Dec 18, 2013: 33764 - Limits on Equity Collateral Pledged as Margin (See Attached)
    • Dec 16, 2013: 33737 - OCC's Collateral Acceptance Policy (See Attached)
    • Dec 06, 2013: 33679 - OCC's Liquidity Margin Call Policy (See Attached)
    • Dec 06, 2013: 33678 - Encore Functionality - Pending for Correction (See Attached)
    • Dec 05, 2013: 33676 - Trade Inquiry Enhancement - Defaulted CMTAs (See Attached)
  • MSRB Rulemaking
    • Dec 19, 2013: SR-MSRB-2013-04 - Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Disapprove Proposed Rule Change Relating to a New MSRB Rule G-45, on Reporting of Information on Municipal Fund Securities
    • Dec 10, 2013: 2013-21 - MSRB to Implement Protections for Investors Against Unexpected Changes in Bond Authorizing Documents
  • FINRA Updates
    • Jan 09, 2014: SR-FINRA-2014-003 - Proposed Rule Change to amend FINRA’s Corporate Financing Rules to Simplify and Refine the Scope of the Rules
    • Jan 08, 2014: Information Notice 1/8/14 - 2014 Annual Audit, FOCUS, Form Custody, Supplemental Statement of Income (SSOI) and Off-Balance Sheet (OBS) Report Filing Due Dates
    • Jan 02, 2014: FINRA 2014 Regulatory and Examination Priorities letter; See also SEC National Examination Program Examination Priorities for 2014
    • FINRA Rule 2360 
      • Dec 23, 2013: SR-FINRA-2013-055 - Proposed Rule Change to Amend FINRA Rule 2360 (Options) Position Limits
    • FINRA CARDS
      • Dec 23, 2013: Regulatory Notice 13-42 - FINRA Requests Comment on a Concept Proposal to Develop the Comprehensive Automated Risk Data System
      • Meeting to Discuss FIF Comments: Tuesday, January 14th @ 2 PM ET
    • FINRA Hybrid Securities Proposal
      • Dec 24, 2013: SR-FINRA-2013-039 - Order Instituting Proceedings to Determine Whether to Disapprove Proposed Rule Change to Clarify the Classification and Reporting of Certain Securities to FINRA; See also Comment Letters
    • TRACE Reporting
      • Dec 16, 2013: New Value in Issuing Agency field for Reference Data Identifier (RDID); See also Dec 12 notice: Changes to the New Issue Form for Set-up of TRACE-Eligible Securities
    • OATS WG
      • Jan 09, 2014: SR-FINRA-2013-050 - Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Over-the-Counter Equity Trade Reporting and OATS Reporting
      • Dec 23, 2013: FIF Comment Letter on SR-FINRA-2013-050 OATS Trade Reporting
      • Nov 22: 2013: SR-FINRA-2013-050 - Notice of Filing of a Proposed Rule Change Relating to Over-the-Counter Equity Trade Reporting and OATS Reporting
    • Additional FINRA Updates
      • Dec 30, 2013: Regulatory Notice 13-45 - FINRA Reminds Firms of Their Responsibilities Concerning IRA Rollovers
      • Dec 23, 2013: Regulatory Notice 13-44 - FINRA Announces Updates of the Interpretations of Financial and Operational Rules
  • FIF Working Group Updates 
    • Symbology WG
      • Dec 11, 2013: Equity Trader Alert #2013 - 115 - NASDAQ Expanded Suffix Symbology Update; See also Equity Trader Alert #2013 - 79
      • Dec 11, 2013: UPDATED FAQs on NASDAQ Expanded Suffix Symbology Plans
      • Nov 15, 2013: FIF Comment Letter on NASDAQ Expanded Suffix Symbology
    • Consolidated Audit Trail WG - Sign up for CAT Alerts
      • Dec 23, 2013: FIF Comment Letter on CAT Selection Process NMS Plan
      • Dec 06, 2013: 34-71018 - Order Granting a Temporary Exemption Pursuant to Section 36(a)(1) of the Securities Exchange Act of 1934 from the Filing Deadline Specified in Rule 613(a)(1) of the Exchange Act
      • Nov 15, 2013: 34-70892 - Notice of Filing of Proposed National Market System Plan Governing the Process of Selecting a Plan Processor and Developing a Plan for the Consolidated Audit Trail
      • FIF CAT Current Documents
      • CAT NMS Plan SRO Portal
    • Large Trader Reporting WG/EBS Subgroup - Sign up for Large Trader Alerts
      • FIF Large Trader WG: Options Calculation Discussion Next Meeting Date: Wednesday, January 15, 2014 @ 11 AM ET
    • Omnibus WG
    • Market Stability WG - Sign up for Market Stability Alerts
      • Jan 07, 2014: SR-NYSEMKT-2013-106 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Rule 928NY to Expand the Scope of the Existing Risk Limitation Mechanism to Address Multiple, Successive Triggers of the Risk Limitation Mechanism; See also SR-NYSEArca-2013-148
      • Dec 23, 2013: FIF Comment Letter on DTCC Limit Monitoring
      • Dec 20, 2013: SR-NYSE-2013-80 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Offer Risk Management Tools Designed to Allow Member Organizations to Monitor and Address Exposure to Risk
      • Nov 26, 2013: SR-NSCC-2013-12 - Notice of Filing of Proposed Rule Change to Provide Its Members with a Risk Management Tool that Would Enable Members to Monitor Trading Activity and Receive Notifications When Pre-Set Trading Limits are Reached
      • See Comment Letters on Regulation SCI
    • FATCA WG - Sign up for FATCA WG Alerts
      • FATCA Relevant Links (Last Updated January 7th, 2014)
      • IRS Publishes FFI List FAQs
    • Cost Basis – Sign up for Cost Basis Alerts
      • Nov 18, 2013: New Draft Forms Released
      • Drafting Comment Letter on Draft 2014 Instructions for Forms 1099-INT and 1099-0ID
      • Aug 22, 2013: FIF Cost Basis Comment Letter on Final Regulations for Basis Reporting for Debt Instruments and Options
  • FIF Monthly Reports
    • Sign up for Report Alerts
    • FIF Initiatives Tracker
    • FIF Milestone Tracker (Milestones Listed Below)
      • TBD: OCC Exercise Restriction Policy
      • TBD: Shortened Settlement Cycle
      • Jan 23, 2014 - 34-68668 - The SEC is adopting amendments to Rule 17Ad-17 to search for lost securityholders from only recordkeeping transfer agents to brokers and dealers as well - Issued Jan 16, 2013
      • Feb 14, 2014: A7697- Implementation Date for Real Time Trade Submission - Issued Sep 09, 2013
      • Mar 2014: A7630 - Requirement for the CNS ACATS and DTC Settling Assets Project - Tentative Production Date - Issued May 03, 2013
      • Mar 03, 2014: 34-70701 - Order Providing Broker-Dealers a Temporary Exemption from the Requirements of Certain New Amendments to the Financial Responsibility Rules for Broker-Dealers under the Securities Exchange Act of 1934
      • Mar 07, 2014: SR-NSCC-2013-11 - NSCC is issuing a revised production implementation date for the AIP Capacity Redesign and Enhancements project of the Alternative Investment Product Services (AIP). These enhancements were originally scheduled for implementation into Production on Thursday, February 13, 2014. The new production implementation date is Friday, March 21, 2014 – Issued Oct 15, 2013
      • Mar 21, 2014: A7723 - NSCC is issuing a revised production implementation date for the AIP Capacity Redesign and Enhancements project of the Alternative Investment Product Services (AIP). These enhancements were originally scheduled for implementation into Production on Thursday, February 13, 2014. The new production implementation date is Friday, March 21, 2014 – Issued Oct 15, 2013
      • No later than March 31, 2014: Notice of Filing of a Proposed Rule Change to Amend MSRB Rules G-8, G-11 and G-32 to Include Provisions Specifically Tailored for Retail Order Periods - Issued Jun 28, 2013
      • 2Q2014: CMU 003.13 - Replatforming Initiative for Corporate Bond, Municipal Bond, UIT (CMU) Real Time Trade Matching (RTTM) System - Issued May 13, 2013
      • Apr 23, 2014: 34-68668 (Lost Securityholders and Unresponsible Payees)- First search for the Rule 17Ad-17 on April 23, 2014, but certain information needed to collect by January 23rd - Issued Jan 16, 2013
      • May 2014: A7735 - In May 2014, subject to SEC approval, the NSCC and the DTC plan to implement the Continuous Net Settlement (CNS) Automated Customer Account Transfer Services (ACATS) and DTC Settling Assets Projects – Issued Nov 18, 2013
      • 1H2014: A7684 - Obligation Warehouse Proposes to Enhance Service with Pair-Off Function
      • Jun 2014: B1890-13 - DTCC clients will be required to transition to the new browser known as Corporate Actions Web (CA Web) in June 2014 for PTS/PBS functions supporting distribution events. This browser migration is mandatory for all clients as the legacy functions supporting active distribution events will be retired at that time; See also B1937-13 - Issued Nov 5, 2013
      • Jun 01, 2014: 34-70073 - Broker-Dealer Reporting/Form Custody Effective Date - Issued Jul 30, 2013
      • After Jun 2014: MSRB announced proposed new Rule G-45, requiring dealers acting in the capacity of underwriters to submit to the MSRB certain information for the 529 plans they underwrite, on a semi-annual basis - Issued Jun 10, 2013
      • Jul 11, 2014: B1952-13 - DTCC plans to reduce implementation risk by lowering its RAD default thresholds via 3 weekly "step downs" from their current limits, allowing time for all parties to manage these changes in a controlled fashion. Each weekly reduction will increase by approximately 1/3 the available number of transactions requiring matching. For payment orders, the old threshold of $500,000 will be reduced to $0, and for deliver orders, the $7,500,000 old threshold will be reduced to $100,000 - Issued Nov 13, 2013
      • Jul 14, 2014: 34-68668 - Revised Rule 17Ad-17 to include a requirement that the paying agent provide a single written notification to each missing securityholder that the missing security holder has been sent a check that has not yet been negotiated - Such written notification must be sent to a missing securityholder no later than seven months after the sending of the not yet negotiated check and may be sent along with a check or other mailing subsequently sent to the missing securityholder - When there is an uncashed check, or any mailing sitting stale for more than 6 months, firms must perform database search to find the client - Issued Jan 16, 2013
      • Jul 18, 2014: B1952-13 - DTCC plans to reduce implementation risk by lowering its RAD default thresholds via 3 weekly "step downs" from their current limits, allowing time for all parties to manage these changes in a controlled fashion. Each weekly reduction will increase by approximately 1/3 the available number of transactions requiring matching. The deliver orders old threshold will be reduced from $100,000 to a new threshold of $20,000 - Issued Nov 13, 2013
      • Jul 18, 2014: Equity Trader Alert #2013 - 115 - NASDAQ Expanded Suffix Symbology Update - Firms should make preparations to support the new symbology format by Monday, July 14, 2014.
      • Jul 25, 2014: B1952-13 - DTCC plans to reduce implementation risk by lowering its RAD default thresholds via 3 weekly "step downs" from their current limits, allowing time for all parties to manage these changes in a controlled fashion. Each weekly reduction will increase by approximately 1/3 the available number of transactions requiring matching. The deliver orders old threshold will be reduced from $20,000 to a new threshold of $0.01 - Issued Nov 13, 2013
      • Before 2015: DTCC Corporate Actions Reengineering Initiative
      • Nov 01, 2015: 34-70150 - Phase 3 of Order Temporarily Exempting Certain Broker-Dealers and Certain Transactions from the Recordkeeping and Reporting Requirements of Rule 13h-1 Under the Securities Exchange Act of 1934 - Issued Aug 08, 2013
    • FIF Market Share Report
    • FIF Market Dynamics Report
    • Market Share & Market Dynamics Executive Summary
  • Next Meeting Date: Tuesday, February 11th, 2014 @ 11 AM ET