09 December, 2019
Working Group Updates 12/9/19
09 December, 2019
- FIF CAT Tech Spec Requirements Working Group - FIF summarized the December 3rd meeting with SROs on the CAT Phase 2c Allocation scope and reportable events, including challenges related to new data elements such as Time of Allocation and FDID on New Order Events. The group also discussed the concept of allocations in the retail space and potential challenges with respect to reporting back office booking events as part of allocations reporting expectations. FIF held a second meeting on Friday, December 6 to continue discussion on allocation reporting expectations.
- FIF Cloud Technology Working Group - The group summarized three regulations related to data privacy including the Gramm-Leach-Bliley Act, the California Consumer Privacy Act (CCPA), and GDPR. FIF then reviewed the best practices document and requested additional feedback as well as discussion around broadening the scope of the group into the FIF Emerging Technology Working Group in 2020.
- FIF SEC Rule 606 Working Group - The group continued discussion around interpretative/implementation-based questions pursuant to 606(a) and 606(b), including discussion around non-look through challenges, the definition of "for execution" for the purposes of 606(a) reporting, and identification of floor brokers.
- FIF CAT Committee Meeting - FIF reviewed the questions discussed on the FINRA CAT TSWG Q&A that morning as well as a brief review of the Phase 2c allocation scope and initial follow up feedback from the allocations framing call with the SROs. FIF also gave a high-level overview of the CAT Reporter Portal User Guide and feedback on anticipated CAT Phase 2c events.
Eduard Kotlyar