FIF has scheduled a call for the Compliance and Surveillance Working Group for Tuesday July 11 at 2 pm ET to discuss expanded surveillance by FINRA based on CAT data. FINRA representatives have noted to FIF members that FINRA is enhancing its surveillance routines based on CAT data. FIF members will discuss expanded surveillance by FINRA and potential steps industry members could take to enhance their internal surveillance in response to FINRA’s enhanced surveillance.

FIF has scheduled a call for the Compliance and Surveillance Working Group for Tuesday July 11 at 2 pm ET to discuss expanded surveillance by FINRA based on CAT data. FINRA representatives have noted to FIF members that FINRA is enhancing its surveillance routines based on CAT data. FIF members will discuss expanded surveillance by FINRA and potential steps industry members could take to enhance their internal surveillance in response to FINRA’s enhanced surveillance.

FIF has scheduled a call for Thursday July 13 at 1 pm ET to discuss the use of “combined statement groups” (sending a single statement to separate account holders for multiple accounts) when the recent FINRA amendments to Rule 2231 (Customer Account Statements) take effect on January 1, 2024. If you would like to participate in this discussion, please send a note to fifinfo@fif.com.

An FIF member would like to discuss with other FIF members retiring TRF reporting requirements that are duplicative of CAT (for example, regulatory reports to the TRF). If you would like to participate in this discussion, please send a note to fifinfo@fif.com.

FIF held a great event on Thursday at the offices of OTC Markets Group and we would like to thank all of those who came out. The first panel of the evening was “SEC Exchange Act Rule 3b-16- New Exchange Definition, Revised ATS Regulation, & Reg SCI”. The panelists were Robert Laorno of ICE, Thomas Merritt of Virtu, and Gary Stone of Bloomberg. This panel discussed the SEC’s proposed changes to the regulatory definition of an exchange and the SEC’s proposal to expand Reg ATS and Reg SCI. The panel also discussed the potential impact of new regulation to communication protocol systems/negotiation protocol systems. 
The second panel was “The Evolution of Digital Assets to Mainstream”. Panelists were Brian Mulcahy of StoneX, John Palmer of Cboe, Jeanine Hightower-Sellitto of EDX Markets, and Daniel Zinn of OTC Markets. This panel discussed emerging activities in Digital Assets. Topics included the current environment and Digital Assets similarity with and differences from current asset classes. Regulatory issues are not resolved, but panelists discussed initiatives in play that advance the growth of this asset class. Definitions of terms and processes were also shared. 
Both panels ended with answering the question on the way forward and how FIF can assist. The moderator for both panels was Tom Jordan, the Chair of the FIF Advisory Committee. 
Again we would like to thank everyone who attended in what was a great turnout. And a big thank you to OTC Markets, who were great hosts.