Highlights Recently Published Regulatory Notices

04 01 16 – 04 15 16 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices

01 – 15 April 2016

From CBOE:

  • Issues reminder that the Quote Tick Inversion Check is inactive during extended trading hours until further notice.
  • Files two amendments to its proposal to amend its rules on Automated Improvement Mechanism related to retain order functionality and price check parameters.
  • Publishes memo describing how it calculates the Options Regulatory Fee on cleared trades and CMTA transfers.

From Department of Labor:

  • Publishes its final regulation defining who is a “fiduciary” of an employee benefit plan under ERISA or as a result of giving investment advice to a plan or its participants or beneficiaries.
  • Issues detailed exemptive relief to its “Fiduciary Rule” related to compensation when acting in a fiduciary capacity and principal transactions with employee benefit accounts and IRA accounts.

From DTC:

  • Announces revisions to dates and fee options related to the retirement of CCF Corporate Action files as it transitions to ISO 20022 messaging.
  • Posts information on certain reports and other resources members can use to identify and track non-transferable/PREM securities.

From FICC:

  • Announces it will host its annual CCLF test with clearing members on April 25, 2016.


  • Issues instructions related to the SEC approved FINRA amendments to the Derivatives and Other Off-Balance Sheet Items Schedule.
  • Updates its TRACE Reporting specifications by adding sub-product asset codes and their descriptions to Appendix 1.
  • Publishes its monthly Disciplinary & Other FINRA Actions report for April 2016.

From MSRB:

  • Publish guidance reminding firms of their obligations related to privately placing municipal securities directly with a single purchaser and the use of bank loan in the municipal market.
  • Announces it has received SEC interpretive guidance relating to the status under federal securities laws of interest in accounts established by states implementing programs under the 2014 ABLE Act, resulting in ABLE account protection under MSRB investor protection rules.
  • Issues request for public comment on draft amendments to clarify exceptions of its rule that generally prohibits dealers from selling bonds below a stated minimum denomination.


  • Requests public comment on proposed revision to its corporate finance statement of policy regarding preferred stock, promoter’s equity investment, use of proceeds and unequal voting rights.

From Nasdaq:

  • Announces changes to the manner in which orders are handled during a halt or IPO effective May 16, 2016.
  • Notifies members that it will no longer support UDP (UFO) as a transport protocol for OUCH effective December 1, 2016.
  • Issues notice of new measures to be implemented on April 18, 2016 to improve halt protections to ensure the presence of LULD bands immediately after the resumption of trading.

From NSCC:

  • Announces several enhancements to its Alternative Investment Product services effective June 17, 2016.
  • Publishes file layouts and testing information for its scheduled enhancements to ACATS.

From NYSE:

  • Advises firms that it has submitted rules to the SEC that would require members to comply with the applicable data collection requirements of the SEC’s Tick Size Pilot Plan.
  • Announces that it and its affiliated markets are changing its registration requirements for Floor Clerks.


  • Issues request for comment for the benefit of its Center of Economic Analysis that will inform the first post-implementation review of the overall effect of PCOAB rules and standards.

From the SEC:

  • Seeks comment on FINRA’s Amendment No. 2 to FINRA’s proposal for TBA Margin and extends the time period in which the Commission must act to approve or disapprove the rule.
  • Adopts new rules under the ’34 Act implementing rules relating to business conduct standards and designation of a CCO for security-based swap dealers and major participants.