On Thursday December 1 at 11 am ET, Ignacio Sandoval and Kyle Whitehead of the Morgan Lewis law firm will review the SEC’s recently-adopted rule on Electronic Recordkeeping Requirements for Broker-Dealers, Security-Based Swap Dealers, and Major Security-Based Swap Participants. FIF has invited members of the Compliance and Surveillance Working Group, the Emerging Technologies Working Group, and the Back Office Committee to participate on this call. If you are not a member of any of these groups and 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 ET. 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.     

FIF would like to thank Cboe for hosting the Annual FIF Chicago Financial Markets Event on November 3. The event focused on regulatory, technology and market data developments for options. FIF would like to thank the keynote speaker (Catherine Clay, Cboe’s Global Head of Data and Access Solutions) and the panelists for the regulatory panel (Jeremy Kahn of Jane Street, Angela Lucas of Simplex and Nicole Pursley of Cboe) and the technology and market data panel (Melisse Morris of IMC and Jeff Wells of Cboe) for their participation.

The FIF CAT Monthly Update Working Group call for November will be on Thursday November 10 at 2 pm ET. The Working Group will review guidance and updates from the CAT Plan Participants and FINRA CAT on CAT transaction reporting and CAT CAIS reporting during the prior month. The Working Group also will review the current areas of focus for FIF members and the current open issues for CAT transaction reporting and CAT CAIS reporting.

On Monday November 14 at 2 pm ET FIF will host a joint call for the Compliance and Surveillance Working Group and the Back Office Committee focused on fractional share orders. Topics of discussion will include: fractional share workflows, including notional value orders, direct indexing, automated investment plans and dividend reinvestment plans; routing of orders and allocation of executed shares; trading capacity (mixed agency versus principal); restrictions on trading as principal for affiliated advisory accounts; classification of fractional share orders as held and not held; orders received prior to market open; trading along (FINRA Rule 5320); and TRF and CAT reporting issues. If you are not a member of the Compliance and Surveillance Working Group or the Back Office Committee and you would like to join this call, please contact fifinfo@fif.com, and we will include you on the call.