March 14, 2017 - Back Office Committee Meeting Agenda

Meeting Details  

  • When: Tuesday, March 14, 2017 @ 11 AM ET
  • Where: Please click here to join the meeting.

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • Feb 17, 2017: 5109-17 – New DTC MMI Program Requirements | Section 871(m) REVISED.
    • FICC Updates
      • March 1, 2017: GOV226-17 - Submission of Rule Filing (SR-FICC-2017-002) and Advance Notice Filing (SR-FICC-2017-802) - Capped Contingency Liquidity Facility.
      • Feb 27, 2017:  MBS319-17 - FICC PSE Test Region Bank Holiday Closing.
      • Feb 23, 2017:  MBS317-17 - Capped Contingency Liquidity Facility Test - April 24, 2017.
    • NSCC Updates
      • Feb 27, 2017: A8340 - ACATS Registration Indicator Enhancement
      • Feb 24, 2017: A8338 - Mutual Fund Profile Service II - Profile Security Enhancements.
  • SEC Updates
    • February 23, 2017:  Guidance on Robo Advisors - SEC Staff issues Guidance Update and Investor Bulletin on Robo Advisors.
  • OCC Updates
    • March 8, 2017:  SR-OCC-2017-004 - Notice of Filing of Proposed Rule Change Concerning Enhancements to OCC's Stock Loan Programs
    • March 3, 2017:  SR-OCC-2017-001 - Order Approving Proposed Rule Change Concerning The OCC's Margin Coverage During Times of Increased Volatility.
    • Feb 10, 2017:  OCC-40638 - Delay to Implementation of the Options Allocation System.
  • FINRA Updates
    • Tick Size Pilot Program
      • March 3, 2017:  SR-FINRA-2017-006 - Proposed Rule Change to Amend Rule 6191 to Implement an Anonymous, Grouped Masking Methodology for Over-the -Counter Activity in Connection with Website Data Publication of Appendix B Data Pursuant to the Regulation NMS Plan to Implement a Tick Size Pilot Program.
      • Feb 23, 2017:  SR-FINRA-2017-005 - Proposed Rule Change to Amend FINRA Rule 6191 to Modify the Date of Appendix B Website Data Publication Pursuant to the Regulation NMS Plan to Implement a Tick Size Pilot Program.  
    • TRACE
      • March 10, 2017:  TRACE New Issue Form - On Monday, March 20, 2017, the TRACE New Issue Form, available on the FINRA Firm Gateway, will be modified to require First Settlement Date and Issue Date to be provided on CMO submissions.
      • Feb 27, 2017: TRACE for Treasuries FAQs - FINRA has published a set of FAQs to assist firms with the reporting of Treasuries Transactions for TRACE.
      • Feb 21, 2017:  TRACE Reporting and Dissemination of CMO Trades User Acceptance Test - On Monday, March 20, 2017, FINRA will release new software with changes and enhancements to TRACE trade reporting and dissemination for Collateralized Mortgage Obligation (CMO) securities. Firms that report CMO transactions and TRACE market data consumers of the SPDS and SPDS-144A data feeds must accommodate these changes and enhancements by this date.
      • Feb 17, 2017: Updated TRACE for Treasury Securities Specifications - FINRA has updated the TRACE CTCI Technical Specifications for Treasury Securities to reflect a change to the reporting of “Execution Time” that is consistent with Supplementary Material .04 to Rule 6730.
    • CAT
      • March 9, 2017:  Regulatory Notice 17-09 - National Securities Exchanges and FINRA Issue Joint Guidance on Clock Synch and Certification Requirements Under the CAT NMS Plan.
    • FINRA Rulebook
      • Feb 24, 2017: SR-FINRA-2017-004 – Notice of filing and immediate effectiveness of a proposed rule change to update rule cross-references and make non-substantive technical changes to certain FINRA rules
  • MSRB
    • March 7, 2017:  Reg Notice 2017-06 - Designation Information Regarding Mandatory Participation in Business Continuity and Disaster Recovery Testing.
    • March 1, 2017:  MSRB Seeks Comment on Draft Amendments to and Clarification of Rule on CUSIP Numbers - MSRB is seeking comment on draft amendments to its regulation on the role of underwriters and financial advisors in obtaining CUSIP numbers for new issues municipal securities.
  • T+2
    • March 8, 2017:  Shortened Settlement Cycle - Rule Changes.
    • March 3, 2017: T+2 Test Events - Corporate Action Test Events for T+2 Cycle 3 (March 13, 2017-March 24, 2017).
    • March 1, 2017:  Test CUSIPs for T+2 Industry Testing
    • March 1, 2017:  T+2 Primer - This document is intended for your firm’s use following finalization of all applicable regulatory rule changes, and has been written assuming that those changes have occurred. 
  • TMPG
    • Jan 19, 2017: TMPG Meeting Minutes for their meeting on January 19th.
  • Member Submitted Questions
    • Member question on Rule 10b-10
    • Member question on Short Interest Reporting
  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • March 2, 2017: FIF submitted a comment letter to the SEC addressing various clock synchronization issues related to CAT and FINRA Rule 4590
      • Feb 3, 2017:  FIF submitted a comment letter to the SEC requesting permanent relief with respect to the current November 1, 2017 compliance data for Phase Three of Rule 13h-1.
      • Next FIF CAT meeting will be held on Wednesday, March 23rd @10:00 am ET.
      • CAT NMS Plan Website
    • Tick Sized Pilot WG
      • FIF held a WG call on March 8th to discussed FINRA's proposed masking methodology of B.I, B.II, and B.IV data.
    • Mark-Up/Mark-Down WG
      • FIF held an informational session with ICE Data Services to discuss PMP Calculation on Thursday, March 2, 2017.
      • Feb 15, 2017: Regulatory Notice 17-08 - SEC approves amendments to require Mark-Up/Mark-Down disclosure and confirmations for trades with retail investors in corporate and agency bonds.
    • TRACE for Treasuries
      • FIF will be holding working group meetings to address implementation concerns pursuant to new TRACE for Treasuries rules.
    • Cost Basis Working Group
      • The next Cost Basis Working Group meeting will be held on Thursday, April 6th @ 11:00 am ET.
    • Data & Technology
      • Next Meeting:  March 22, 2017 @ 10:30 am ET
    • FIF Retail Execution Quality Statistics
    • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
    • FIF Monthly Reports
      • Market Data Capacity Statistics – (Requires FIF Website Login)

Join us on April 20th for our Quarterly Event Sponsored by Thomson Reuters and Hewlett Packard Enterprises. The event will be on "Next Generation Technologies & Financial Services: How AI, Machine Learning and Evolving Technology Will Affect and Influence the Industry" 

Next Meeting Date: Tuesday, April 11, 2017 @ 11:00 am ET.