FIF has scheduled two calls for the Rule 606 Working Group. The first call is scheduled for Monday December 5 at 1 pm ET and will focus on the rule filing submitted by FINRA to the SEC on Disclosure of Order Routing Information for OTC Equities (SR-FINRA-2022-031). The second call is scheduled for Tuesday December 6 at 2 pm ET and will focus on the recent Risk Alert published by the SEC’s Division of Examinations on Observations Related to Regulation NMS Rule 606 Disclosures.

On Tuesday December 6 at 10 am ET, FIF will host a joint call for the Compliance and Surveillance Working Group and the Back Office and Front Office Committees focused on fractional share orders. Topics of discussion will include proxy voting for fractional share positions, requesting DTCC to facilitate the transfer of fractional positions, fractional share workflows and TRF reporting. If you are not a member of the Compliance and Surveillance Working Group or the Back Office or Front Office Committee and you would like to join this call, please contact fifinfo@fif.com, and we will include you on the call.   

FIF has scheduled a panel discussion on trade surveillance for the FIF Compliance and Surveillance Working Group and the FIF Front Office Committee for Thursday December 8 at 2 pm. The panelists will be Mark Davies of S3, Brett MacLeod of Abel Noser and Andrew White of Broadridge. Holly Dito of Pershing will moderate the panel. The panelists will discuss the scope of trade surveillance. Time permitting, the panelists also will discuss T+1 vs. real-time surveillance, use of AI for surveillance, trade surveillance based on business activity (retail; institutional; market making; exchange; ATS; clearing firm), standardization vs. customization, reviewing and updating parameters, checking and challenging your trade surveillance program, and trade surveillance for foreign markets. Time permitting, the panel also will focus on market manipulation, with a discussion of the potential red flags in securities trading identified by FINRA in Regulatory Notice 19-18 (Anti-Money Laundering (AML) Program FINRA Provides Guidance to Firms Regarding Suspicious Activity Monitoring and Reporting Obligations). Any topics not covered on this call will be covered during a subsequent call. If you are not a member of the Compliance and Surveillance Working Group or the Front Office Committee and you would like to join this call, please contact fifinfo@fif.com, and we will include you on the call.     

The FIF Cybersecurity Working Group will have its next call on Monday December 12 at 3:00 pm ET. This call will include a review of recent cybersecurity alerts from CISA and other government agencies.

The Front Office Committee will have its next call on Tuesday December 13 at 11 am ET to review applicable updates and notices from the SEC, FINRA, FINRA CAT and the equity and option exchanges.