27 May, 2020
Working Group Updates: 5/4/2020
27 May, 2020
- FIF Business Continuity Planning Committee - Given the implementaiton of BCP procedures over the past month in response to the global pandemic, FIF brought this group together to dicuss the shared experiences amongst member firms on topics such as employee dislocation and operational and technology challenges faced by firms. FIF also discussed the efficacy of FINRA Rule 4370 and other rules associated with BCP and Disaster Recovery.
- FIF Tax Information Reporting Working Group - After the rush of Tax season, this group met to discuss the SECURE Act and the CARES Act. Additionally, the presentation featured a discussion on the tax reclaims and a cryptocurrency reporting update.
- FIF/SIMFA/STA CAT Options Working Group - FIF summarized the results and next steps following the Thursday, April 30th Deep-Dive Meeting on Phase 2d Options.
- FIF Front Office Committee - Please find this month's Front Office Committee agenda here.
- FIF Data & Technology Committee - The meeting started with a spotlight presentation focusing on VIX Volatility. In addition to the presentation, the group covered the monthly Market Data Capacity Reports, summarized exchange and SIP technical notices and updates, and reviewed recent and upcoming regulations that impact market data. Please find the full Market Data Capacity stats here.
- FIF CAT Committee - FIF gave an overview of the launch and intended application of the CAT Counterparty Contact Utility. FIF also gave a summary of the Thursday, April 30th Deep-Dive Meeting on Phase 2d Options with FINRA and the anticipated next steps and timing. The group discussed any issues that have come up in the Test Environment, including Intrafirm Linkage Validations. Finally, FIF announced a proposed CAT/OATS working group.
Eduard Kotlyar