30 March, 2026
Working Group Updates 3/30/2026
30 March, 2026
- 24x7 Trading Working Group. The 24x7 Trading Working Group continued its discussion of a draft FIF letter to FINRA proposing that FINRA provide interpretive guidance and exemptive relief relating to the support of low-touch trading outside of regular U.S. business hours. The Working Group discussed a revised draft issues list relating to the planned expansion of exchange trading, including short sale locate requirements, TRF reporting, off-exchange trading, corporate actions and dividends.
- Trump Accounts Working Group. The Working Group discussed issues and questions from FIF members relating to the initial date for permitted rollovers, the initial trustees, the account type for initial funding, the account opening process, designating beneficiaries, eligible investments, requirements for trustees if a fund is no longer an eligible investment, and obtaining signatures for conversion to a standard IRA.
- Rule 605 Working Group. The Rule 605 Working Group continued its discussion of Rule 605 reporting for not held orders.
- Regulatory Implementations Calendar. FIF hosted a joint call for the Compliance and Surveillance Working Group and the SEC FINRA Regulations Working Group to review an updated Regulatory Implementations Calendar and Regulatory Implementations Presentation. The Regulatory Implementations Calendar and Presentation track upcoming regulatory implementations.
- Cybersecurity Working Group. FIF hosted a call for the Cybersecurity Working Group. The spotlight presenter was Doug Domin of the FBI Cyber Division, who discussed Operation WINTER Shield, Iran cyber capabilities and other current threats to the financial industry.
- CAT Transaction Reporting and CAIS Working Groups. FIF hosted a joint call for the CAT Transaction Reporting and CAIS Working Groups. The Working Groups discussed reporting the Trading Session code for “on open” orders, how firms are handling PII reporting for new accounts, and a proposal for CAT to allow firms to view additional details on counter-party reporting. Working Group members updated the full Working Groups on a March 20 call with FINRA CAT relating to the Phase 1B production date and other issues. The Working Groups discussed unlinked options scenarios. The Working Groups worked on prioritizing the issues presented in the March 5 FIF letter to CAT LLC.
Eduard Kotlyar