16 January, 2024
Working Group Update 1/16/2024
16 January, 2024
- SEC Rule on Centralized Clearing of Treasuries. Penny Christophorou and Ignacio Sandoval of the Morgan Lewis law firm reviewed the rule recently adopted by the SEC to expand centralized clearing of Treasuries.
- Review of Current SEC and FINRA Regulatory Initiatives. FIF reviewed a digest of rules recently adopted or proposed by the SEC and FINRA. For the call this past week, the Working Group focused on SEC and FINRA rules relating to Technology, Operations and Finance and Equities.
- FIF CAIS Working Group. The CAIS Working Group discussed the recent CAIS system reload of certain FDID and Customer records. The Working Group completed its review of the December 21, 2023 updates to the CAIS Technical Specifications. The Working Group reviewed the January 3, 2024 updates to the CAIS Technical Specifications. The Working Group discussed the most recent updates to the schemas for the CAIS Material Inconsistencies Data and Metadata files. The Working Group reviewed a redline of the CAIS open issues list.
- FIF CAT Transaction Reporting Working Group. FIF hosted four calls for the CAT Transaction Reporting Working Group this past week. During the first call, the Working Group reviewed a revised draft letter to the SEC relating to the requirement for a routing firm to report to CAT settings applied by a receiving firm. During the second call, the Working Group discussed reconciliation of CAT invoices. During the third call, the Working Group discussed issues and questions from FIF members relating to the following: the various auction-related handling instructions; regulatory guidance for Electronic Blue Sheets reporting; CAT reporting for rejected customer orders; clock synch certification; and CAT reporting for a legging-in scenario. During the fourth call, the Working Group discussed the recent rule filings by FINRA and the other SROs relating to collection of CAT fees.
Eduard Kotlyar