FIF has scheduled a call for the Section 31 subgroup for Tuesday January 16 at 3 pm ET. The subgroup will discuss next steps after the recent FIF member call with FINRA representatives to discuss enhancing the reconciliation process for the FINRA Regulatory Transaction Fee (charged by FINRA to reimburse FINRA for the Section 31 fee it pays to the SEC). If you would like to participate on this call and are not a member of this subgroup, please contact fifinfo@fif.com.

At the request of FIF members, FIF has created a subgroup for members to discuss issues relating to T+1 implementation, including the new requirements relating to same-day allocations. If you are interested in participating in this subgroup, please send a note to fifinfo@fif.com.

The recently-adopted SEC rules for security-based swap execution facilities (SBSEFs) require firms to report certain financial and other data with Inline XBRL tagging. If you would like to discuss this requirement with other FIF members or are able to recommend a vendor that offers XBRL tagging for this type of reporting, please send a note to fifinfo@fif.com.

On December 15, FIF submitted a letter to FINRA on CAT billing. In the letter, FIF members request that FINRA publish a Regulatory Notice to allow for industry comment on any proposal by FINRA to pass-through FINRA’s CAT fees to its members.

The Back Office Committee will have its next call on Monday December 18 at 10 am ET to review applicable FICC, DTC, NSCC, SEC, MSRB, OCC, IRS and FINRA updates during the past month. During the call, FIF will review the recent rule changes adopted by FINRA to conform to T+1 and the requirement for same-day allocations. The Working Group will also discuss how members plan to handle the scenario where a customer does not provide allocations by end-of-day.