08 September, 2026
Working Group Updates 9/8/2026
08 September, 2026
- Rule 605 and 606 Working Groups. FIF hosted a joint call for the Rule 605 and 606 Working Groups. The Working Groups discussed the impact of Rule 605 changes on Rule 606 reporting. The Working Groups discussed whether an asset manager submitting orders through a single top-level account represents one or multiple accounts for purposes of the Rule 605 reporting threshold for broker-dealers. The Working Groups discuss ATS reporting scenarios.
- FINRA Best Execution Regulatory Notice. FIF hosted a call for the Equity Market Regulations Working Group to continue the discussion of FINRA Regulatory Notice 26-15 on modernizing FINRA’s best execution guidance.
- CAT Monthly Update Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from CAT LLC and FINRA CAT during the prior month. The Working Group reviewed the current areas of focus for FIF members and the current open issues relating to CAT reporting.
- CAT Transaction Reporting and CAT Reference Database Working Groups. This past week FIF hosted three joint calls for the CAT Transaction Reporting and CAT Reference Database Working Groups. The Working Groups discussed a revised draft FIF letter to the SEC, CAT LLC, FINRA and FINRA CAT relating to proposed changes to the tradingSession field in connection with the planned expansion of exchange trading hours. The Working Groups reviewed the results of an FIF survey on CAT clock synch. The Working Groups discussed CAT Transaction Reporting for KPI options and CAT RDB reporting for trusts that use the trustee’s SSN.
Eduard Kotlyar