December 15, 2015 - Front Office Meeting Agenda

Meeting Agenda

  •  FINRA Updates
    • OTC Transparency
      • Nov 25, 2015: FINRA Regulatory Notice 15-48 - SEC Approves Amendments to Publish OTC Equity Volume Executed Outside Alternative Trading Systems
    • Guidance on Best Execution Obligations
      • Nov 20, 2015: Regulatory Notice 15-46 - Guidance on Best Execution Obligations in Equity, Options and Fixed Income Markets
    • ORF
      • Dec 9, 2015: ORF Testing for Clearing-Only, Non-Regulatory Reports
      • Dec 1, 2015: Revised OTC Reporting Facility (ORF) Platform API and TRAQS Specifications
    • Rule 6433 (Minimum Quotation Size Requirements for OTC Equity Securities)
      • Nov 23, 2015: SR-FINRA-2015-051 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Tier Size Pilot of FINRA Rule 6433 (Minimum Quotation Size Requirements for OTC Equity Securities)
    • TRACE "No Remuneration" Indicator
      • Dec 10, 2015: TRACE Reporting and Dissemination of No Remuneration Trades and ATS
      • Nov 23, 2015: Regulatory Notice 15-47 - SEC Approves Amendments to Require Firms to Add a No-Remuneration Indicator in TRACE Trade Report 
      • Nov 20, 2015: Summary of No Remuneration Reporting
      • Oct 22, 2015: SR-FINRA-2015-026 - Order Granting Accelerated Approval to a Proposed Rule Change, as Modified by Amendment No. 1, To Require an Indicator When a TRACE Report Does Not Reflect a Commission or Mark-up/Mark-down
    • TRACE ATS MPID
      • Dec 8, 2015: SR-FINRA-2015-055 - Proposed Rule Change to Adopt New FINRA Rule 6732 (Exemption from Trade Reporting Obligation for Certain Transactions on an ATS
    • Other FINRA Updates
      • Dec 9, 2015: Regulatory Notice 15-52 - SEC Staff Provides Insight into Firm's Obligations When Providing Stock Quote Information to Customers
      • Dec 8, 2015: Regulatory Notice 15-51 - Submission of "Clearing-Only, Non-Regulatory Reports" to the FINRA Equity Trade Reporting Facilities - Updated Notice
      • Dec 7, 2015: Regulatory Notice 15-50 - SEC Approves Rule Requiring Members’ Websites to Include a Readily Apparent Reference and Hyperlink to BrokerCheck
  • TRACE/MSRB - Proposal to Require to Require Confirmation Disclosure with Retail Customers
    • FIF Comment Letter on MSRB 2015-16 & FINRA 15-36
    • Oct 13, 2015: FINRA Reg Notice 15-36 - FINRA Requests Comment on a Revised Proposal Requiring Confirmation Disclosure of Pricing Information in Corporate and Agency Debt Securities Transactions
    • Sept 24, 2015: MSRB 2015-16 - Request for Comment on Draft Rule Amendments to Require Confirmation Disclosure of Mark-ups for Specified Principal Transactions with Retail Customers
  • SEC Regulation of NMS Stock Alternative Trading Systems
    • Nov 18, 2015: SEC 34-76474 - Proposal to Amend Regulation ATS
  • Cybersecurity
    • Nov 13, 2015: Webinar: Cybersecurity Considerations for Small Firms (Video Recording)
    • Oct 14, 2015: Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers
    • Sept 15, 2015: OCIE’s 2015 Cybersecurity Examination Initiative
  • NYSE Pillar Rollout
    • Dec 8, 2015: Pillar: Phase I Update – Testing Opportunities
  • Other NYSE Update
    • Dec 9, 2015: SR-NYSE-2015-62 - Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 123C to Define the Term "Official Closing Price"
  • FIF Working Group Updates - Join Working Groups
    • Consolidated Audit Trail (CAT) 
      • Nov 23, 2015: Summary of the Consolidated Audit Trail Initiative
    • Tick Size Pilot 
      • Next Meeting Date: Thursday, Dec 17th @ 1 PM ET
  • FIF Retail Execution Quality Statistics
  • FIF Regulatory Initiatives Tracking Site - (Requires FIF Website Login)
  • FIF Monthly Reports
    • Market Share Report
    • Market Dynamics Report
    • Market Share Executive Summary
    • Market Dynamics Executive Summary
  •  Additional Updates - Equities
    • Dec 3, 2015: SR-NYSEMKT-2015-96 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Amending Rule 107C - Equities to Distinguish Between Retail Orders Routed on Behalf of Other Broker-Dealers and Retail Orders that are Routed on Behalf of Introduced Retail Accounts that are Carried on a Fully Disclosed Basis
    • Dec 1, 2015: SR-BX-2015-074 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Market Order Spread Protection
    • Nov 23, 2015: NYSE MKT Number 15-3 - NYSE Regulation January 1, 2016 Launch of Certain Surveillance, Investigations, and Enforcement Functions Currently Performed by FINRA - Disciplinary Rules and Proceedings
    • Nov 20, 2015: SR-BX-2015-073 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Pilot Period for the Retail Price Improvement Program Until December 1, 2016
    • Nov 20, 2015: SR-NYSEArca-2015-110 - Notice of Filing of Proposed Rule Change Amending NYSE Arca Equities Rule 8.600 to Adopt Generic Listing Standards for Managed Fund Shares
    • Nov 18, 2015: SR-NASDAQ-2015-145 -  Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Include Managed Fund Shares in the Lead Market Maker Program
    • Nov 16, 2015: NYSE Trader Update - Elimination of Stop and GTC Order Types
  • Additional Updates - Options
    • Dec 8, 2015: SR-Phlx-2015-94 - Notice of Filing of Proposed Rule Change to Make Permanent the Pilot Program Eliminating Minimum Value Sizes for Opening Transactions in New Series of FLEX Options
    • Dec 8, 2015: Nasdaq OTU2015-12 - PHLX, NOM, and BX Options Change System Start-up Time
    • Dec 4, 2015: CBOE RG15-179 - Limit Order Price Reasonability Checks for Immediate-or-Cancel Orders
    • Dec 4, 2015: CBOE RG15-178 - Transition of Certain Web Based Surveillance ("WBS") Reports to the FINRA Report Center
    • Nov 30, 2015: SR-CBOE-2015-106 - Notice of Filing of a Proposed Rule Change to Permit P.M.-Settled Options on Broad-Based Indexes to Expire on Any Wednesday of the Month by Expanding the End of Week/End of Month Pilot Program
    • Nov 25, 2015: CBOE RG15-172 - Class Level Cancel Requests
    • Nov 20, 2015: SR-CBOE-2015-103 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Technical Disconnect Mechanism
    • Nov 19, 2015: SR-BATS-2015-100 - Notice of Filing of Proposed Rule Change to Amend BATS Rule 14.11(i) to Adopt Generic Listing Standards for Managed Fund Shares
    • Nov 18, 2015: SR-BATS-2015-101 -  Notice of Filing of a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, to Adopt Rule 8.17 to Provide a Process for an Expedited Suspension Proceeding and Rule 12.15 to Prohibit Disruptive Quoting and Trading Activity
    • Nov 17, 2015: SR-BYX-2015-46 - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 11.13, Order Execution and Routing