FIF Rule 606 Working Group / FINRA Rule 6151. FINRA hosted a call for FIF members on the recently-adopted FINRA Rule 6151, which requires industry members to submit their Rule 606(a) reports to FINRA. During the call, representatives from FINRA’s Office of General Counsel and FINRA’s Market Regulation and Technology groups provided an update on the implementation of FINRA Rule 6151. FINRA personnel also answered questions from FIF members. FIF Rule 605 Working Group. The Rule 605 Working Group discussed reporting under the current Rule 605for DNR (do not reduce) orders. The Working Group...

SEC Rule on Short Position and Short Activity Reporting. FIF hosted a call for the FIF Short Sales / Reg SHO / Short Interest Reporting Working Group to continue the discussion of issues and questions from FIF members relating to implementation of the SEC Rule on Short Position and Short Activity Reporting. The Working Group discussed the scope of reportable securities, identifying data sources for reportable securities, reporting for ADRs, reporting for dually-listed symbols, reporting by parent companies of positions held by subsidiaries, and applicability of the reporting requirements...

The FIF Short Sales / Reg SHO / Short Reporting Working Group focuses on the implementation of SEC Rule 13f-2, which requires the reporting of gross short positions in equities on Form SHO. This Working Group also covers FINRA short interest reporting and the SEC’s Reg SHO, including the marking of long and short orders, the Reg SHO circuit breaker, and the Reg SHO locate and close-out requirements.

The FIF SLATE Working Group focuses on the implementation of SEC Rule 10c1-a (Securities Lending Transparency) and the SLATE system being developed by FINRA to implement Rule 10c1-a reporting.

The FIF Equity Market Regulations Working Group focuses on Regulation NMS and other regulations that impact the equity markets, including minimum price increments, round lot sizes, best ex, dissemination of market data through the SIPs and direct feeds, the order protection rule, trading halts and limit up-limit down. The Working Group also focuses on SRO filings and other market developments relating to extended hours trading, fractional shares trading and other topics.

The FIF Cyber, Reg SCI and Reg S-P Working Group focuses on regulations relating to cybersecurity, Reg SCI and Reg S-P.

The FIF Rule 605 Working Group focuses on the implementation of the SEC’s amendments to Rule 605. 

This group was created to review regulatory reporting fines for infractions including CAT, EBS, LOPR, Rule 605, Rule 606, short interest reporting, swap data reporting, TRACE, trade advertising and TRF/ORF. All firm names and dates are excluded from any presentation.