July 18, 2017 - Back Office Committee Meeting Agenda

Meeting Details  

  • When: Tuesday, July 18, 2017 @ 11 AM ET
  • Where: Please click here to join the meeting.

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • July 5, 2017: B6284-17- DRS Transfers and Memo Segregation
      • July 5, 2017: 34-81074 - Notice of Filings of Proposed Rule Changes to Adopt the Clearing Agency Model Risk Management Framework
      • July 3, 2017: 6263-17 - Rule Filing SR-DTC-2017-011 ATOP for Consent Solicitations for Book-Entry Only Securities
      • June 22, 2017: 34-81001 - Notice of Filing of Proposed Rule Change to Establish a Swap Margin Segregation Account For the Segregation of Swap Margin With Respect to Deposited Securities
      • June 16, 2017: 6142-17 - Rule Filing SR-DTC-2017-009 – Segregated Accounts for Swap Margin
    • FICC Updates
      • July 3, 2017: GOV276-17 - Submission of Rule Filing SR-FICC-2017-016 Clearing Agency Risk Management Framework
      • July 3, 2017: GOV277-17 - Notice of No Objection to Advance Notice SR-FICC-2017-802 regarding the Government Securities Division’s Capped Contingency Liquidity Facility® (CCLF®)
      • June 16, 2017: GOV270-17 - Submission of Rule Filing SR-FICC-2017-015 - Clarifications and Corrections to GSD Rulebook, MBSD Clearing Rules and MBSD EPN Rules
    • NSCC Updates
      • July 5, 2017: 34-81074 - Notice of Filings of Proposed Rule Changes to Adopt the Clearing Agency Model Risk Management Framework
      • June 29. 2017: 34-81044 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Further Describe and Codify Existing Practices Relating to the Bond Haircut
      • June 15, 2017: 34-80942 - Notice of Filing of Proposed Rule Change to Adopt a New Stock Options and Futures Settlement Agreement with The Options Clearing Corporation
  • MSRB Updates
    • July 12, 2017:  Regulatory Notice 2017-12 - MSRB guidance on confirm disclosure and PMP.
  • OCC
    • June 23, 2017: 34-81008 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Concerning the U.S. Market Transition to a Shortened Settlement Cycle
    • June 16, 2017: Clearing Member Notification Requirements
  • FINRA Updates
    • Mark-Up/Mark-Down
      • July 12, 2017:  Reg-Notice-17-24 - FINRA has issued FAQs relating to enhanced confirmation disclosure requirements for corporate and agency debt securities pursuant to FINRA Rule 2232. 
    • ATS
      • June 23, 2017: SR-FINRA-2017-023 - Proposed Rule Change to amend FINRA Rule 6730 (Transaction Reporting) to Provide a Temporary Exception to Permit Aggregate Reporting for Certain ATS Transactions in U.S. Treasury Securities
    • CAT
      • June 19, 2017:  SR-FINRA-2017-020 - Proposed Rule Change to Adopt FINRA Rule 6898 (Consolidated Audit Trail - Fee Dispute Resolution).
    • TRACE
      • July 6, 2017: Reminder: TRACE for Treasuries Securities Reference Data
      • June 29, 2017: Reminder: TRACE Trade Reporting of Treasury Securities 
      • June 23, 2017: SR-FINRA-2017-023 - Rule change to amend FINRA Rule 6730 (Transaction Reporting) to provide a temporary exception to permit member alternative trading systems (“ATSs”) and member subscribers to report aggregate trade information to TRACE for certain transactions in U.S. Treasury Securities
      • June 21, 2017:  SR-FINRA-2017-022- Proposed Rule Change to Waive Fees under FINRA Rule 7730.
      • June 19, 2017: SR-FINRA-2017-021 - Rule Change to Amend FINRA Rule 7730 to Make Available a New TRACE Security Activity Report
  • TMPG
    • June 27, 2017: TMPG Meeting Minutes for their meeting on June 27th.
  • T+2
    • July 10, 2017: T+2 Update for Collateralized Mortgage Obligations
    • July 7, 2017: Shortened Settlement Cycle - Rule Changes as of July 7, 2017
    • June 29, 2017: Mutual Fund FAQs: Settlement Cycle Updates from T+3 to T+2
    • June 23, 2017: Changes to Ex-Dividend Procedures Effective September 5, 2017 to Accommodate T+2
    • June 16, 2017: T+2 Changes to the Securities Lending Recall Period
  • SEC
    • Remarks from Commissioner Clayton
      • July 12, 2017:  Remarksfrom Commissioner Jay Clayon from his speech at the Economic Club of New York.  These remarks include Chairman Clayton's 8 guiding principles and SEC priorities.
    • CAT
      • June 30, 2017: Release No 34-81067 - Suspension of and Order Instituting Proceedings to Determine Whether to Approve or Disapprove Proposed Rule Changes to Establish Fees for Industry Members to Fund the Consolidated Audit Trail

  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • July 18, 2017:  FIF's CAT Firm Designated ID Working Group will be holding a meeting
      • July 13, 2017:  FIF participated in Industry Outreach Meeting with Thesys CAT LLC.
      • July 12, 2017:  FIF held a Cat working group meeting
      • July 7, 2017: FIF/SIFMA/STA held a joint industry outreach call
      • June 22, 2017:  FIF submitted a Comment Letter on the Retirement of Duplicative Systems
      • CAT NMS Plan Website
    • Tick Sized Pilot WG
      • April 5, 2017:  FIF submitted a comment letter on proposed methodology of B.I, B.II, and B.IV data.
      • FIF held a WG call on March 8th to discuss FINRA's proposed masking methodology of B.I, B.II, and B.IV data.
    • Mark-Up/Mark-Down WG
      • July 12, 2017:  MSRB released FAQs/Guidance on confirms and PMP Calculation 
      • July 12, 2017:  FINRA released FAQs on rule enhancements to Fixed Income Confirmation Disclosures.
      • June 8, 2017:  FIF submitted FAQs to FINRA and MSRB, which are being considered for incorporation into FAQs released by both regulators.
      • May 18, 2017:  FIF held a working group meeting.
      • March 29, 2017:  FIF held a Mark-Up/Mark-Down working group meeting to discuss various implementation issues.
      • FIF held a joint session with MSRB on March 29th regarding FINRA Rule 2232/MSRB Rule G-15/G-30 (Mark-Up/Mark-Down). The discussion focused on implementation concerns.
    • Cost Basis Working Group
      • The next Cost Basis Working Group meeting will be held on Thursday, August 3rd @ 11:00 am ET.
      • The spotlight topic of this meeting will be: IRC SS 1.6045-1 f(12) Certain Debt Instruments Treated as Noncovered Securities
    • FINRA Engagement Initiative 
      • June 19, 2017:  FIF submitted a comment letter in response to FINRA's Engagement Initiative 
    • Data & Technology
      • Next Meeting:  July 26, 2017 @ 10:30 am ET
    • Retail Execution Quality
      • FIF to add marketable limits to Retail Execution Quality Statistics 
    • FIF Industry Solutions Offering
      • FIF will provide member firms with an opportunity to present various product offerings to FIF membership as part of FIF's new Industry Solutions Program.
    • 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)