18 February, 2025
Working Group Updates 2/18/2025
18 February, 2025
- Short Position Reporting. The FIF Short Sales / Reg SHO / Short Reporting Working Group continued its discussion of the implementation of short position reporting. The Working Group discussed next steps in response to the February 7 SEC Exemptive Order to extend the compliance date for Form SHO reporting. The Working Group continued its discussion on reporting for warrants and convertible bonds.
- SEC Transaction Working Group. The SEC Transition Working Group discussed a draft letter to the SEC on implementation issues for the SEC to address, including implementation issues relating to CAT Transaction Reporting, CAT PII, CAT operating costs, EBS, Rule 606, FINRA Rule 6470, Rule 605, short position reporting, TRACE, TRF and ORF.
- Risk Controls and Supervision for Extended Hours Trading. The Trading Risk Controls subgroup discussed risk controls and supervision for extended hours trading, including requirements under the SEC’s market access rule.
- CAT Transaction Reporting and CAT CAIS Working Groups. FIF hosted three CAT Working Group calls this past week. During the first Working Group call, the CAT CAIS and CAT Transaction Reporting Working Groups continued their discussion of the January 17 news blog from Robert Cook recommending the removal of PII from CAT. During the second Working Group call, the CAT CAIS and CAT Transaction Working Groups discussed the February 10 SEC Exemptive Order to remove PII from CAT. During the third Working Group call, the CAT Transaction Reporting Working Group discussed the BFMMFlag, CAT reporting for a foreign security with a U.S. ADR, and CAT Fee Alert 2025-1.
Eduard Kotlyar