23 September, 2024
Working Group Updates 9/23/2024
23 September, 2024
- Short Position Reporting. The Short Sales / Reg SHO / Short Reporting Working Group continued its discussion of the implementation of the SEC’s new requirement for reporting of short positions.
- OFR Repo Reporting Working Group. The OFR Repo Reporting Working Group discussed comments and questions for the OFR relating to the rejection of file and record submissions, reporting the securities value at inception, transaction by a U.S. branch of a foreign bank, reporting the start date and end date fields, reporting by an investment adviser, reporting the floating rate reset frequency field, and the threshold for an investment adviser to qualify as a Category 2 covered reporter. The Working Group completed its review and discussion of the FAQs published by the OFR.
- Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC and FINRA updates during the past month. Please find the September Agenda here.
- Cybersecurity Working Group. Matt Weinberg of the Cybersecurity and Infrastructure Agency (CISA) provided an update on current threats to the financial industry. CISA is an agency of the US Department of Homeland Security. The Working Group reviewed recent FINRA, NSA and FBI updates relating to cybersecurity.
- CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed feedback from FINRA CAT relating to CAT billing and reconciliation, the CAT feedback process, auction-related handlingInstructions value, the FINRA Trade Reporting Notice on fractional share transactions, removing the exchOriginCode from option route modification events, and adding accountHolderType to the New Order Supplement events. The Working Group discussed the FIF exemptive request relating to linkage of representative orders. The Working Group discussed reporting the BFMM (bona fide market maker) flag to CAT. The Working Group completed its review of most recent updates to the CAT Billing Scenarios. An FIF member updated the Working Group on the status of proposed enhancements to the CAT portal.
Eduard Kotlyar