14 November, 2022
Working Group Update 11/14/2022
14 November, 2022
- CAT Monthly Update Working Group Call. The CAT Monthly Update Working Group reviewed guidance and updates from the CAT Plan Participants and FINRA CAT on CAT transaction reporting and CAT CAIS reporting during the prior month. The Working Group also reviewed the current areas of focus for FIF members and the current open issues for CAT transaction reporting and CAT CAIS reporting.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group discussed a recent FIF call with the CAT Operating Committee in which representatives of the CAT Operating Committee provided a procedural update on the CAT Operating Committee lawsuit against the SEC. The Working Group discussed linkage of rep orders to customer orders and linkage of order fulfillments to rep and principal orders, for unlinked systems. The Working Group discussed reporting for CASH orders.
- FIF CAT CAIS Working Group. The CAIS Working Group continued its discussion of CAIS portal feedback issues. The Working Group discussed reporting for foreign entities that do not have a valid CAIS identifier. The Working Group discussed the most recent updates to CAT Alert 2022-01 (Full CAIS Reporting Timeline and Interim Reporting Obligations). The Working Group discussed the FINRA CAT Full CAIS Report Card webinar. The Working Group discussed FAQ Q69 on reporting in the scenario where there are multiple CAT customers for an FDID with the same EIN. The Working Group discussed the recent announcement by FINRA CAT that Error Codes 3701 through 3710 will not be introduced in production until December 5. The Working Group reviewed a draft letter to the CAT Operating Committee on CAIS system issues that are impacting the ability of firms to comply with the December 5 and 12 Full CAIS milestones.
Eduard Kotlyar