Highlights Recently Published Regulatory Notices 15-31 of May 2017

05 15 17 – 05 31 17 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices

15 – 31 of May 2017

From Consolidated Audit Trail:

  • CAT updates its NMS Plan to include participant fees.

From Chicago Board Options Exchange:

  • Files rule change addressing the retirement of certain regulatory reporting systems in light of the Consolidated Audit Trail.
  • Introduces new feature within its AIM auction that will allow the starting price of the auction to be established via a field on the contra/match order when using Auto-Match and Auto-Match with a limit.
  • Issues clarification in that the contra-side of a QCC or AIM order entered is allowed to have multiple contra-parties.
  • Announces implementation date of June 5, 2017 for an enhancement to the CTM terminal to require the designation of a “Reason Code” when a trade is added or deleted, or if certain fields are changed.
  • Proposes new rules adopting procedures for the act of resolving potential disputes related to CAT Fees charged to Industry Members.
  • Publishes notice of the reduction in the order handing and exposure period in AIM and SAM from 1000 MS to 100 MS in both the regular and extended trading hours’ sessions.
  • Files rule change to extend the Penny Pilot Program until December 31, 2017.

From the Commodity Futures Trading Commission:

  • Issues request for comment on the extension of two information collections.

From Department of Labor:

  • Publishes FAQs addressing activities during the transition period of its Conflict of Interest rules.
  • Issues an Enforcement Policy Bulletin for its Conflict of Interest rule during the transition period.

From Depository Trust Company:

  • Files rule change to clarify and provide transparency related to the calculation of a Participant’s Fund Deposit and the factors it may take into account when evaluating an adjustment to the Deposit.
  • Announces an enhancement effective June 9, 2017 to its UW Source application to streamline the process used by underwriters to submit eligibility requests to DTC compliant with Section 871(m) of the IRS code.
  • Publishes details and actions items related to the parallel production testing of ISO 20022 Reorganization Lifecycle message on July 24, 2017.

From Fixed Income Clearing Corporation:

  • Submits several rule changes to the implementation and support of its Novation initiative.
  • Proposes rule change to establish fees for CCIT Members for various functions.
  • Announces it will deploy its Novation application to the production environment the first weekend in June 2017.

From FINRA:

  • Requests comment on the effectiveness and efficiencies of the rules on outside business activities and private securities transactions.
  • Files rule proposal related to the retirement of OATS and Electronic Blue Sheets after the Consolidated Audit Trail is built and stable.
  • Proposes to extend the Tier Size Pilot until December 8, 2017.
  • Issues its Disciplinary Actions Report for May 2017.
  • Citing need for a simpler means of obtaining all TRACE data disseminated each trading day, FINRA proposes a new End-of-Day TRACE Transaction file.
  • Updates file download for TRACE to include a seniority type code.
  • Issues notice of election to its Board of Governors in July 2017.
  • Files rule change to eliminate the “No/Was” correction transaction charge from its fee schedule for members that use the FINRA/Nasdaq Trade Reporting Facility.

From the Municipal Securities Rulemaking Board:

  • Receives SEC approval for its Continuing Education requirements for Municipal Advisors effective January 1, 2018.
  • Files rule change to update its Account Transfer rules to be more flexible and efficient.

From Nasdaq:

  • Files rule change related to the details of the retirement of several regulatory reporting systems in light of the development of the Consolidated Audit Trail.
  • Announces the election of six (6) Board Seats to be held on June 19, 2017.

From National Securities Clearing Corporation:

  • Announces details related to its BCP testing under Reg SCI for AIP processing and Insurance and Retirement Services processing.
  • Files rule proposal related to its Novation initiative and other processes to create efficiencies for Clearing Members.
  • Publishes a go-live date of June 23, 2017 for its Consolidated Trade Summary Re-Write initiative.
  • Publishes the rules it will follow in implementing new logic to identify foreign securities positions to be excluded from admission to its Obligation Warehouse effective on June 23, 2017.
  • Provides details of its upcoming RECAPS testing in the PSU testing environment in support of the industry’s move to a shortened settlement cycle.
  • Receives SEC approval to the modification to its rules and procedures to enhance the Credit Risk Rating Metric effective on June 5, 2017.
  • Files rule change to adopt a New Accord with OCC to provide for the settlement of certain stock options and delivery obligations that arise from certain matured physically-settled stock futures contracts clearing by Options Clearing Corporation.
  • Updates participants on enhancements to its Mutual Fund Profile Service II on June 12, 2017.

From New York Stock Exchange:

  • Files rule change related to the details of the retirement of several regulatory reporting systems in light of the development of the Consolidated Audit Trail
  • Proposes to establish fees to be paid by Industry Members for the development and support of the Consolidated Audit Trail.
  • Issues reminder to DMM of the Rule 103B “quite period” which governs the allocation and reallocation of issuers’ securities to DMM units.

From Options Clearing Corporation:

  • Proposes to adopt a New Accord with NSCC to provide for the settlement of certain stock options and delivery obligations resulting from certain matured physically-settled stock futures contracts cleared by OCC.

From the Securities & Exchange Commission:

  • Partnering with the MSRB will host a live webinar, scheduled for June 15, 2017, to assist municipal advisors related to their professional qualifications requirements.
  • Announces the Section 31 Fee Rate charged on securities transactions will be set to $23.10 per million effective on July 4, 2017.

From US T2 Committee:

  • Releases its test events for the next round of corporate action testing in support of the industry’s move to a shortened settlement cycle.

From the U.S. Treasury:

  • The Office of the Comptroller of Currency updates its Guidance related to the examination programs.
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