11 July, 2022
Working Group Update 7/11/2022
11 July, 2022
- FIF CAT Monthly Update Working Group. The CAT Monthly Update Working Group reviewed guidance and updates from the SROs and FINRA CAT on CAT transaction reporting and CAT CAIS reporting during the prior month. The Working Group 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 reviewed feedback from FINRA CAT relating to the atsDisplayInd field, reporting the accountHolderType for an account for a broker-dealer, reporting the accountHolderType value for a foreign account, segmenting report cards by IMID and reporting the tradingSession field for NAV orders. The Working Group reviewed updated FAQ B68 on reporting the accountHolderType when the same account is used for market making and other proprietary activity.
- FIF CAT CAIS Working Group. The Working Group discussed the most recent implementation schedule for Full CAIS published by FINRA CAT. The Working Group discussed reporting an FDID with multiple CAT Customer entities that have the same EIN and different LEIs. The Working Group reviewed the request for exemptive relief submitted by the CAT Operating Committee to the SEC on June 30. The Working Group reviewed updates from FIF members relating to CAIS errors resulting from a CAT Customer role for the same FDID being ended and started on the same day, scenarios that involve FDID changes, and partial submissions to Full CAIS.
Eduard Kotlyar