FIF is excited to announce our 2023 year-end event, sponsored by Société Générale. After opening remarks from Société Générale, there will be two panels: the first focusing on technology, specifically trading and market data in the cloud and hybrid environments. The technology panel will feature Prerak Sanghvi of Clear Street, with additional panelists being announced soon. The second panel will focus on implementation challenges of new regulations in 2024 and beyond. The regulatory panel will feature Mark Davies of S3, with additional panelists being announced soon. FIF Advisory Chair, Tom Jordan, will moderate both panels. The event will take place on December 5 at Société Générale’s offices at 245 Park Avenue, New York, NY 10167. Registration in the lobby begins at 3:30 pm ET. The speaking engagement will be from 4:30-6:30 pm ET with refreshments and networking afterwards from 6:30-8 pm ET. FIF would like to thank Société Générale for sponsoring this event. FIF Members may register for free here. Non-members who are interested in attending may contact the FIF program office at fifinfo@fif.com. 

On November 2, FIF submitted a presentation to FINRA that discusses (i) the current challenges faced by industry members in reconciling the FINRA Regulatory Transaction Fee (charged by FINRA to recoup Section 31 fees) and (ii) a proposal from FIF members to address this challenge. The FIF member proposal involves FINRA providing additional data to industry members to enable reconciliation of these fees. FIF has requested a call with FINRA to discuss the FIF member proposal. FIF would like to thank the participants in the FIF Section 31 sub-group for their participation in the drafting of this proposal.

FIF has scheduled the next call for the FIF Securities Lending Transparency Working Group for Monday November 6 at 2 pm ET. Ignacio Sandoval of the Morgan Lewis law firm will complete the review of the SEC’s recently-adopted rule to require Reporting of Securities Loans. The Working Group will also discuss various implementation issues relating to the rule proposal raised by FIF members, including how end-of-day should be defined, how a platform or venue should be defined, timestamp granularity, how spread-based pricing should be reported to FINRA and disseminated by FINRA, and reporting on an “if-known” basis. If you would like to participate on this call and are not a member of the Securities Lending Transparency Working Group, please update your FIF profile or send a note to fifinfo@fif.com.

FIF has scheduled the next call for the FIF Rule 606 Working Group for Monday November 6 at 3:30 pm ET to continue the discussion of Rule 606 reporting for the pass-through of CAT fees. The Working Group will also discuss issues and questions from FIF members relating to Rule 606 reporting.

FINRA CAT will host a second CAT Billing Webinar on Tuesday November 7 at 4:15 pm ET. FIF has sent a calendar invite for this webinar to the members of the FIF CAT Transaction Reporting Working Group.