23 September, 2019
Working Group Updates 9/23/19
23 September, 2019
- FIF Regulatory Notice 19-27 - Financial Exploitation of Seniors - FIF reviewed the rules under FINRA's retrospective rule review designed to protect senior investors from financial exploitation and solicited industry member feedback regarding the effectiveness of the current rules in place.
- FIF Back Office Committee Meeting - FIF reviewed several notices, rule proposals, and updates focusing on potential impacts to back office trading technology. Please find this month's agenda here.
- FIF CAT Committee - Operations Focus - FIF gave an update on the status of CAT Connectivity relating to the recently signed contract between CenutryLink and the SROs. FIF also did a high-level review of remaining open questions regarding CAT Onboarding and Entitlements as well as solicitation of a status update from correspondent broker-dealers.
- FIF SEC Rule 606 Working Group - FIF summarized their Thursday, September 12th meeting with the SEC Division of Trading and Markets Staff. FIF provided detail on the distinction between Primary Routing Venue (PRV) and EV/Secondary Routing Venue (SRV) in connection with the SEC's interpretation of the Order Routing Scenario. The group reviewed the implementation timeframes and addressed next steps in implementation.
- FIF CAT Committee - FDID Focus - FIF reviewed the guidance received from the CAT Industry Webinar on September 10th and discussed the application of FDID to specific institutional scenarios.
- FIF Cybersecurity Working Group - FIF discussed the most significant cybersecurity threats to the financial services industry and went through FINRA's Incident Response Plans.
- FIF Cloud Technology Working Group - As proposed by members, the group discussed cloud cost-cutting strategies.
Eduard Kotlyar