December 12, 2017 - Back Office Committee Meeting Agenda

Meeting Details  

  • When: Tuesday, December 12, 2017 @ 11:00 am ET

Meeting Agenda 

  • DTCC Updates
    • DTC Updates
      • December 5, 2017: B7399-17 - Holiday Schedule December 25th, 2017.
      • November 30, 2017: B7385-17 - Reports Available Regarding DTCC’s Destruction of Non-Transferable Securities Certificates Program.
      • November 27, 2017: B7311-17 - Legal Notice System Update For Notice Submitters.
      • November 27, 2017: B7307-17 - MMI Tracking Screen Enhancements.
    • FICC Updates
      • December 1, 2017: MBS481-17 - Capped Contingency Liquidity Facility (“CCLF® ”) Reset Reminder.
      • November 30, 2017: GOV346-17 - Parallel Period Regarding Proposed Changes to the Clearing Fund Methodology.
      • November 20, 2017: GOV342-17 - Approval of Rule Filing (SR-FICC-2017-002) – Capped Contingency Liquidity Facility.
    • NSCC Updates
      • December 1, 2017: a8484 - Obligation Warehouse Schedule December 2017
      • December 1, 2017: a8486 - New York State Stock Transfer Tax Rebate Program December 2017
      • November 29, 2017: a8482 - Mutual Fund Profile Service II – Profile Security Enhancements
      • November 22, 2017: a8480 - NSCC SUBMISSION OF RULE FILING (SR-NSCC-2017-019) – ENHANCEMENTS TO THE PROCESS FOR SUBMITTING AND ACCEPTING ETF CREATIONS AND REDEMPTIONS
  • OCC
    • November 21, 2017: Revised Standards for Designating Clearing Members Required to Participate in Business Continuity and Disaster Recovery Testing
    • November 20, 2017: Implementation of Upcoming Requirements for Key Information Documents (KIDS) Under Priips Regulation
    • November 16, 2017: 2018 Holiday and Expiration Schedule
  • FINRA Updates
    • Short Interest Reporting
      • December 6, 2017 - Regulatory Notice 17-43 - Guidance on reporting short interest positions held in master/sub-accounts or parent/child accounts.
    • FIX Format Changes
      • December 4, 2017 - Technical Notice - Starting Monday, March 5, 2018, FINRA will require a change to FIX Tag 22007 (Execution Time) to more accurately process execution time during Daylight Savings Time (DST) changes. This update affects firms’ transaction reports for all FINRA Multi Product Platform Products (MPP), including TRACE, The Over the Counter Trade Reporting Facility (ORF) and The Alternative Display Facility (ADF). 
    • FINRA Examination Findings - Cybersecurity 
      • December 1, 2017 - FINRA issues report on findings from their 2016-2017 examination process.
    • FINRA Report Filing Due Dates
      • November 30, 2017 - Information Notice - 2018 and First Quarter 2019 Report Filing Due Dates:  Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income' Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Investory Specialists.
    • ORF
      • November 30, 2017 - Technical Notice - ORF Reference Data File Change - Effective March 5, 2018.
    • Upgrade to Transport Layer Security Version
      • November 28, 2017 - Technical Notice 
    • Market Making Rule
      • November 28, 2017 - Regulatory Notice 17-41 - FINRA Requests Comment on Effectiveness and Efficiency of its payments for Market Making Rule.
    • Fund Analyzer
      • November 21, 2017 - News Release - FINRA Introduces New Functionality and Design to Fund Analyser.
    • Tier Size Pilot
      • November 20, 2017 - SR-FINRA-2017-035 - Proposed Rule Change to Extend the Tier Size Pilot of Rule 6433 (Minimum Quotation Size Requirements for OTC Equity Securities).
    • AML
      • November 21, 2017: Regulatory Notice 17-40 - FINRA Provides Guidance to Firms Regarding Anti- Money Laundering Program Requirements Under FINRA Rule 3310 Following Adoption of FinCEN’s Final Rule to Enhance Customer Due Diligence Requirements for Financial Institutions
  • CAT
    • November 30, 2017 - House Subcommitee held a hearing on the Implementation and Cybersecurity Protocols of the Consolidated Audit Trail.
    • November 21, 2017: SR-FINRA-2017-013 - Notice of Designation of Longer Period for Commission Action on Proceedings to Determine Whether to Approve or Disapprove the Proposed Rule Changes, as Modified by Amendments Thereto, to Eliminate Requirements That Will Be Duplicative of CAT
    • November 15, 2017: Regulatory Notice 17-39 - SEC Approves the CAT Fee Dispute Resolution Process
    • November 14, 2017:  Statement on Status of CAT - SEC Jay Clayton issues statement rejecting the SRO request for Exemptive Relief as currently proposed.
    • November 13, 2017:  SRO's Request of Exemptive Relief from Certain Provision of the CAT NMS Plan
  • SEC:
    • December 7, 2017: Agenda - SEC held an Investor Advisory Commitee Meeting
  • MSRB
    • December 4, 2017: MSRB Notice 2017-23 - MSRB Extends Commment Deadline on Request for COmment on Providing Compliance Support
  • TMPG
    • November 7, 2017: TMPG Meeting Agenda for their meeting on November 7th.

 

  • FIF Working Group Updates: Please click here to Join Working Groups.
    • Consolidated Audit Trail (CAT)
      • December 6, 2017:  FIF held a CAT Working Group meeting.
      • November 29, 2017: FIF submitted a comment letter to SEC and SROs on a New Plan for CAT.
      • November 29, 2017:  FIF held a CAT Working Group meeting.
      • October 16, 2017:  FIF submitted comments to Thesys CAT on Industry Member Specification.
      • September 29, 2017:  FIF submitted a comment letter to the SEC on SRO Retirement Plans.
      • September 25, 2017:  FIF submitted a comment letter to Thesys CAT on Industry Member Specification .
      • September 25, 2017:  FIF held an outreach session with Thesys, covering new order events.
      • September 7, 2017:  Thesys CAT LLC released first draft of Industry Member Technical Specification.
      • September 7, 2017:  FIF participated in Industry Outreach Meeting with Thesys CAT LLC.
      • CAT NMS Plan Website
    • Mark-Up/Mark-Down WG
        • November 13, 2017: FIF met with the SEC, MSRB and FINRA regarding a potential delay in the implementation date of MSRB Rule G-15/G-30 and FINRA Rule 2232.
        • November 6, 2017: FIF held a Mark-Up/Mark-Down Working Group Meeting on Possible Extension of MSRB Rule G-15/G-30 and FINRA Rule 2232 Implementation Date
        • 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.
    • Cost Basis Working Group
      • December 7 - Cost Basis Working Group held a meeting on Thursday, December 7 focusing on the Tax Bill and how it might affect basis calculation and reporting.
    • LULD
      • November 16, 2017 - Update on status of LULD rule changes to reflect Amendment 12 of the LULD NMS Plan
    • Data and Technology
      • Next Meeting:  December 20, 2017 @ 10:30 am ET.
    • Retail Execution Quality
      • FIF to expand Charter of Retail Execution Quality Working Group
    • FIF Cybersecurity Working Group
      • Next Meeting, January 4, 2018 @ 3:00 PM ET.
      • FIF rebrands Reg SCI working group to incorporate a stronger focus on cybersecurity issues effecting FIF Member Firms.  If you would like to join the working group, please contact the program office at fifinfo@fif.com.
    • FIF held our year end event on November 20, 2017 at Societe Generale.  The panel discussion focused on key considerations of Cloud Technology.
    • FIF Industry Solutions Offering
      • Visit the FIF Industry Solutions Page for the Latest Products & Services from Fellow FIF Members
    • 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)

Next Meeting Date: Tuesday, January 16, 2017 @ 11:00 am ET. 

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