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 2 pm 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 This email address is being protected...

FIF has postponed the scheduled call on the SEC’s electronic recordkeeping rule. We will provide an update when the call is rescheduled.

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;...

FIF Rule 606 Working Group. The Rule 606 Working Group discussed the recent Risk Alert published by the SEC’s Division of Examinations on Observations Related to Regulation NMS Rule 606 Disclosures. FIF CAT CAIS Working Group. FIF submitted a letter to FINRA CAT requesting that certain open issues relating to inaccurate CAIS error feedback be escalated to a priority of High.

Société Générale and AllianceBernstein are combining their equities research and trading businesses to according to a story in The Wall Street Journal. The proposed joint venture will operate from London under the Bernstein name. SocGen will own 51% and have the option to take full control after five years. The French bank said the tie-up would help diversify its revenues geographically and by business line. Customers of the new joint venture will have access to other services, such as raising new stock for companies and prime services for hedge funds.

The Depository Trust & Clearing Corporation announced that it has launched DTCC Report Hub’s assisted reporting model, allowing sell-side firms to assist their buy-side clients with regulatory reporting obligations around the world. Report Hub is a pre- and post-trade reporting solution that helps firms manage the complexities of meeting multiple regulatory mandates across jurisdictions and asset classes. With DTCC Report Hub’s assisted reporting model, sell-side firms including clearing brokers and prime brokers can seamlessly provide the required counterparty trade data to their...

BNY Mellon and Conduent Incorporated announced the launch of a new Digital Integrated Payments Hub enabling businesses and public sector agencies to access secure, faster, and cost-effective options to send, request or receive payments according to a story in Crowdfund Insider news. By integrating the payment capabilities of BNY Mellon’s infrastructure, Conduent’s new Digital Integrated Payments Hub speeds up refunds, rebates, and overpayment remediations from as many as 10 days to a matter of minutes, while providing the ability to track transactions conveniently and transparently. The...

FIF is pleased to welcome Robinhood Securities to the FIF Community