Highlights Recently Published Regulatory Notices 16-30 June 2016

06 16 16 – 06 30 16 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices

16 – 30 June 2016

From CBOE:

  • Files rule change related to order marking requirements for “solicited” and “not held” order types.
  • Proposes amendments to certain parameter and risk settings.
  • Identifies sever option classes to be added to the Penny Pilot Program on July 6, 2016.

From DTC:

  • Announces details of its Reg SCI required CBP and DR testing.
  • Postpones its CBRS changes until July 15, 2016.

From FICC:

  • Reminds its participants of the reset of the Capped Contingency Liquidity Facility on July 1, 2016.

From FinCEN:

  • Publishes its final rule strengthening its customer due diligence requirements for banks, broker or dealers in securities and mutual funds.


  • Announces details of its July 11, 2016 migration of the IFT/FTP servers that support the OATS Customer Test environment.
  • Updates FAQs for Trade Reporting and FOCUS reporting of Derivatives and Other Off Balance Sheet Items Schedule.
  • Issues a fine against Merrill Lynch of $5 million for failure to aadequately disclose costs in relation to the sale to retail customer of five-year senior debts linked to a proprietary index.
  • Proposes changes to TRACE reporting and dissemination related to CMO products including reducing the reporting period from the end-of-day to 60 minutes from execution.
  • Announces a fine of $6 million against Deutsche Bank Securities for inaccurate and late Electronic Blue Sheet reporting.
  • Receives SEC approval for rule change governing the accounts of associated persons opened at firms other than the firm where they are employed.

From Nasdaq:

  • Proposes amendments to the definition of “Professional” to specify the manner in which it calculates orders to determine if an order should be treated as a professional order.
  • Files rule proposal for the adoption of an options rule to clearly prohibit disruptive quoting and trading activies and to permit it to take prompt action to suspend Members or their clients that violate the rule.

From NSCC:

  • Announces starting in Q1 2017, it will start using the MPID field as matching for corporate and UIT trades in RTTM.
  • Publishes details related to testing for changes to RTTM to match on stepout designation.
  • Publishes notices of new formats for the Consolidated Trade Summary and a projected effective date of June 22, 2017.
  • Discontinues its CNS Stock Record report effective with June 2016 month-end.

From NYSE:

  • Issues FAQs related to the SEC’s Tick Size Pilot program.
  • Files proposal to extend the Penny Pilot Program until December 31, 2017.

From OCC:

  • Issues details. Objectives and pre-requisites for participation in the Industry’s DR and BCP test in October 2016.

From the SEC:

  • Citing technology and market innovations, revises its Reg NMS Rule 611 (Trade Through) to interpret “immediate” as not precluding a de minimis intention delay.
  • Approves the Investors’ Exchange as a national securities exchange.
  • Issues fines against Merrill Lynch in the amount of $415 for violations of customer protection rules and $10 million for inadequate disclosures.
  • Proposes rule to require SEC-registered Investment Advisers to adopt and implement written business continuity and transition plans.