19 November, 2018
Working Group Updates (Week of 11/12)
19 November, 2018
- LTR Phase Three - FIF met with members to provide an update on the Commission's recent stance LTR Phase Three, and next steps for the industry. FIF will schedule a follow up call the for the week of the 26th.
- FIF CAT Tech Spec Working Group - Members raised a number of outstanding issues in the spec that have not been resolved. FIF understands that a number of the issues within the spec may prevent industry members from performing coding, may require costly and unnecessary systems builds (due to ambiguous guidance/ lack of guidance). Therefore, FIF is gathering a list of spec challenges to provide ThesysCAT and the regulators for the basis of a follow up in-person discussion.
- FIF FDID Subgroup - Reviewed a revised version of the materials attempting to simplify the content to be presented to the regulators, including highlighting the group’s objectives more clearly and providing more basic examples of 1) retail, 2) institutional, 3) and RIA order flow. The objective was to use these materials as a base for a discussion regarding the remaining unanswered questions pertaining to FDID (i.e. granularity of hashing requirements, definition of account etc…) and to cover the challenges pertaining to each business flow. FIF then attended an in-person meeting with the regulators on Wednesday, November 14th.
- FIF Rule 600-606 Working Group - FIF held a kick-off call with the recently formed SEC Rule 606 working group to support the implementation of the SEC's recently adopted Order Handling Information enhancements. If you would like to join this group, please update your FIF profile here or email us at
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Eduard Kotlyar