19 April, 2021
Working Group Update 4/16/2021
19 April, 2021
- FIF CAT Tech Specs Working Group. The CAT Tech Specs Working Group completed its review of the April 5 updates to the FINRA CAT Phase 2d Technical Specifications and Reporting Scenarios documents. The Tech Specs Working Group discussed issues and questions from FIF member relating to Automated Investment Plans and the DIR handlingInstruction. The Working Group reviewed updates to FAQs relating to allocation reporting. The Working Group discussed the change in the scheduled dates for the FINRA CAT internal DR failover test. The Working Group discussed the expansion of the CAC handlingInstruction. The Working Group reviewed draft comments and questions for FINRA CAT from FIF members relating to allocation reporting for top-level accounts, allocation reporting for average-price accounts for an RIA, various Reporting Scenarios relating to option exchange orders and executions, various Multi-Leg Reporting Scenarios, the QCC handlingInstruction, and handlingInstructions for algo orders. FIF submitted these comments and questions to FINRA CAT.
- FIF CAT CAIS Working Group. The FIF CAT CAIS Working Group reviewed and discussed a draft response to the Plan Participant survey relating to Authorized Traders. The Working Group discussed the Monthly CAT CAIS Industry Testing Checkpoint Call, including a change to allow the reporting of a single customer record in a single submission record with differing data, removing the Material and Minor Inconsistency validation against First Name and Last Name of Natural Person CAT Customers, and a change relating to feedback files. The Working Group discussed issues and questions relating to the Phase 2c go-live date and reviewed a diagram from a FIF member relating to full CAIS reporting. FIF sent questions to SEC and FINRA CAT staff relating to LTID and ULTID reporting for acquisitions and a scenario involving top-level and sub-accounts.
Eduard Kotlyar