Highlights Recently Published Regulatory Notices 16 December – 31 December, 2015
From the CBOE:
Changes to its margin rules to permit cash-settled index options to be written on a “covered” basis against an equivalent offsetting position in an index tracking ETF based on the same index underlying the options that were written.
Completed the roll-out of a system enhancement to apply limit order price reasonability checks on non-IOC and IOC simple and complex orders.
Issues notice of addition of two option classes to the Penny Pilot program replacing two that were delisted.
Modifies its Option Regulatory Fee, effective February 1, 2016 from $.0064 to $.0081 per option contract.
Announces a system enhancement effective January 29, 2016, where it will increase memo segregation balances when it receives DRS shares for all clients who leverage Memo Segregation Profile Option 1.
Proposes a rule change to postpone the date for the retirement of CGF Announcement files until further notice and implement an annual fee of $50,000 for each Announcement file.
Publishes the T+2 Implementation Playbook developed by its Industry Steering Committee.
From: DTCC Solutions:
CBRS announces its 2016 holiday schedule with dates on which it will be closed.
Announces an enhancement scheduled for Q1 2016 where it will add the Settlement Date and Accrued Unrealized Market Discount fields.
Publishes notice of changes to the TMPG Fail Charges.
Files a rule proposal to amend the MBSD’s Clearing fund methodology.
Publishes two documents related to its due diligence requirements for Financial Institutions Proposed Rulemaking: 1) A Regulatory Impact Assessment and 2) Initial Regulatory Flexibility Analysis.
Issues two reports: 1) Report and Recommendations of FINRA Dispute Resolution Task Force and 2) Report on the FINRA Securities Helpline for Seniors.
Files two rule proposals: 1) to adopt rules to establish “pay-to-play” and related rules to regulate the activities of member firms engaging in distribution or solicitation activities for compensation with government entities on behalf of investment advisors and 2) to establish an obligation to deliver educational communications in connection with member recruitment practices and account transfers.
Issues an Investor Alert related to the growing interest in securities-backed lines of credit being offered by broker-dealers.
Announces a fine of $2.95 million against a member firm for inaccurate Electronic Blue Sheet reporting.
From the IRS:
Updates to FATCA IDES website and testing session information.
Files a proposal to amend Rule G-37 on political contributions made by brokers, dealers and municipal securities dealers and prohibitions on municipal securities business, to apply to municipal advisors.
Announces beginning in June 2016 firms and individuals who advise state and local governments on municipal finance transactions and products will be subject to detailed regulations on their professional conduct.
Updates its Option Regulatory Fee for its options markets effective February 1, 2016: PHLX will be $.0034, NOM will be $.0019 and BX will be $.0003.
Announces the addition of two options classes to the Penny Pilot Program
Announces a parallel test period to allow members to review the impact of the new Family Issues Securities component to their clearing fund requirements.
Files a rule proposal to enhance its risk policies and procedures.
Updates its members with email contact information related to its takeover of certain surveillance, investigation and enforcement actions beginning January 1, 2016.
Publishes an overview of a clearing member’s notification requirements to Options Clearing Corporation.
Announces a webinar scheduled for January 11, 2016 to provide an update on findings and developments in its interim inspection program for auditors of brokers and dealers.
From the SEC:
Issues report and seeks public comment on the definition of an Accredited Investor.
Publishes a Concept Release and request for comment on new requirements for transfer agents and transfer agent regulation.
Releases its two annual Staff Reports on Credit Rating Agencies examinations and the report on Nationally Recognized Statistical Rating Organizations.