18 January, 2022
Working Group Update 1/18/2022
18 January, 2022
- FIF Securities Lending Transparency Working Group. The Securities Lending Transparency Working Group reviewed a draft comment letter on the SEC’s November 18 rule proposal to create a new reporting system for securities loans. On January 10, Ignacio Sandoval of the Morgan Lewis law firm presented a buy-side perspective on the SEC’s recent Securities Lending Transparency rule proposal.
- FIF CAT CAIS Working Group. The CAT CAIS Working Group reviewed the change announced by FINRA CAT to require the reporting of the accountHolderType in CAT Allocation events in place of reporting the tidType. The Working Group discussed an updated draft response to the regulators relating to CAIS reporting for mass transfers. FIF submitted this response to FINRA CAT. The Working Group completed its review of the December 17, 2021 updates to the CAIS CCID Technical Specifications. The Working Group continued its discussion of scenarios where firms are not able to report all CAIS data within one day of the first CAT-reportable activity occurring within an account. The Working Group reviewed FIF member survey responses on reporting addresses when there are multiple beneficial owners for an account and reporting for Authorized Traders. The Working Group reviewed recent discussions between industry members and FINRA CAT relating to the reporting of the bankDepositoryID field. The Working Group discussed EBS retirement. The Working Group discussed the timing requirements for reporting a new account to CAIS. The Working Group discussed terminating FDIDs for the CAIS CCID phase where the FDIDs have been reported during the CAIS LTID phase.
- FIF CAT Transaction Reporting Working Group. The CAT Transaction Reporting Working Group reviewed a Phase 2d production issue relating to Order Fulfillment events for stitched multi-leg orders. The Working Group reviewed the January 6, 2022 updates to the CAT Reporting Technical Specifications. The Working Group reviewed the change announced by FINRA CAT to add the accountHolderType field to Allocation events in place of the TIDType field. The Working Group discussed draft comments and questions for FINRA CAT relating to the reporting of route events where there is no change to a CAT reportable field other than the routedOrderID and the eventTimestamp, upcoming changes relating to reporting for RFQ responses and quotes, and future schema changes. FIF submitted these comments to FINRA CAT. The Working Group discussed CAT reporting for option error scenarios.
Eduard Kotlyar