Highlights Recently Published Regulatory Notices 15-31 May 2016

05 16 15 – 05 31 16 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices       15-31 May 2016

See attached file for complete list.  Below are highlights.

From CBOE:

  • Proposed to expand the Non-Standard Expiration Pilot to permit PM-settled options on broad-based indexes to expire on any Monday except for Mondays that are a month-end.
  • Issues notice and details of the annual Back-Up Data Center test scheduled for October 15, 2016.

From DTC:

  • Announces revisions to the retirement dates of Participant Settlement Statements and Settling Bank Statemens –  July 22, 2016 for PTS and August 26, 2016 for PBS.

From FICC:

  • Reminds its GSD Foreign Netting Members that updates to their foreign legal opinions must be received by June 10, 2016.


  • Announces the effective fdate of November 11, 2016 for its Rules 2273 which requires members to deliver education communication related to firm recruitment practices and account transfers.
  • Levied a significant fine of $17 million against Raymond James for violations of AML compliance programs.
  • Issues a Target Exam Letter related to Mutual Fund Fee Waivers.
  • Proposes amendment to its Debt Research rules to clarify certain aspects of the rule related to consent, scope and disclosures.
  • Updates TRACE Reporting Specifications to add a sub-product asset code.
  • Launches a Risk Control Assessment of member firms the first week of June 2016.
  • Provides guidance on the use of stop orders during volatile market conditions.
  • Files a third amendment to its proposal to require Margin on TBA Transactions.
  • Receives SEC approval to require members to include on OATS reportable events, the identity of U.S. registered broker-dealers that are not FINRA members and broker-dealers not registered but assigned an SRO identifier.

From MSRB:

  • Issues details related to the new Municipal Advisor Representative Qualification Examination – Series 50.


  • Issues request for public comment on a proposed model rule and uniform notice form for issuers conducting federal crowdfunding offerings under certain circumstances.

From Nasdaq:

  • Identifies its rules that will require amendments to support the industry’s move to a shortened settlement cycle.
  • Proposesa new equity trading rule to clearing prohibit disruptive quoting and trading activities and allow it to take prompt action to suspend members or their clients who violate the rules.

From NSCC:

  • Announces several enhancements to its ACAT Service in the DTCC Web Portal.

From NYSE:

  • Issues bulletin to assist its members in identifying activity that disrupts markets and undermines investor confidence.
  • Reminds its members of their responsibility to enter correct reason codes into the Display Book when publishing an opening price or halting a stock.

From the Office of the Comptroller of Currency:

  • Issues a bulletin advising banks on the actions to be taken related to the SEC’s revised money market rules that indirectly affect banks thaty make MMFs available to their customers.

From the SEC:

  • Will allow Rule 15b12-1 to expire on July 31, 2016, which upon expiration will prohibit broker-dealers from offering or entering into retail forex transactions under Section 2(c)(2)(3) of the Commodities Exchange Act.

Prepared by Jane Young June 1, 2016