19 December, 2022
Working Group Update 12/19/2022
19 December, 2022
- FIF TRACE/Fixed Income Working Group. The TRACE/Fixed Income Working Group discussed FINRA Regulatory Notice 22-26 (“Trade Reporting and Compliance Engine (TRACE): FINRA Requests Comment on Proposed Changes to TRACE Reporting Relating to Delayed Treasury Spot Trades”), FINRA Regulatory Notice 22-27 (“TRACE Reporting of U.S. Treasury Securities: FINRA Adopts Enhancements to TRACE Reporting for U.S. Treasury Securities”), and FINRA Regulatory Notice 22-28 (“TRACE Reporting of Foreign Sovereign Debt Securities: FINRA Adopts Amendments to Require Reporting of Transactions in U.S. Dollar-Denominated Foreign Sovereign Debt Securities to TRACE”).
- FIF Rule 606 Working Group. The Rule 606 Working Group reviewed a draft FIF comment letter on the rule filing submitted by FINRA to the SEC on Disclosure of Order Routing Information for OTC Equities (SR-FINRA-2022-031).
- FIF Cybersecurity Working Group. The Cybersecurity Working Group reviewed recent cybersecurity alerts from CISA and other government agencies.
- FIF Front Office Committee. The Front Office Committee reviewed applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges. Please find the agenda here.
- FIF Back Office Committee. The Back Office Committee reviewed applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. Please find the agenda here.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group discussed a recent notification from the FINRA CAT helpdesk to an FIF member that the CAT system, when validating the date of a CAT Allocation event against the date of the associated CAIS FDID record, will consider the Allocation event valid if the CAIS fdidDate conforms to the date portion of the Allocation timestamp. FINRA CAT plans to deploy this change to the test environment during January. The Working Group discussed CAIS reporting for a Personal Holding Company in the British Virgin Islands. The Working Group review the recent FAQ changes posted by FINRA CAT, which updated various date references. The Working Group discussed ongoing issues with CAIS feedback.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed and discussed a revised draft letter to the SEC on CAT reporting for verbal activity. FIF submitted this letter to the SEC on December 16. The Working Group discussed a recent notification from the FINRA CAT helpdesk to an FIF member that the CAT system, when validating the date of a CAT Allocation event against the date of the associated CAIS FDID record, will consider the Allocation event valid if the CAIS fdidDate conforms to the date portion of the Allocation timestamp. The Working Group reviewed recent FAQ updates relating to the recently-introduced deskOrderID field and Multi-Leg Order Effective event. The Working Group discussed the FIF member call with SEC staff on reporting of port settings by an order router.
Eduard Kotlyar