Highlights Recently Published Regulatory Notices 01-15 of November 2016


Highlights Recently Published Regulatory Notices

01-15 of November 2016

From the Chicago Board Options Exchange

  • Files rule proposal related to its future acquisition of the BATS Markets.

From Depository Trust Company

  • Announces the commencement in December 2016 of certain changes to MMI processing to provide for a more efficient and transparent money market settlement process.
  • Proposes a rule change to make technical and clarifying changes in it DTC Settlement Service Guide related to settlement instructions provided to DTC by Matching Utilities on behalf of participants.
  • Issues revision of the retirement and fee start dates related to the Reorganization CCF Announcement files.
  • Issues notice that in January 2017 it is enhancing the User Header Block in settlement output messages to include timestamps.

From Fixed Income Clearing Corporation

  • Proposes to change the methodology that it uses in the Mortgage-Backed Securities Division’s Value-at-Risk model to one that uses a sensitivity approach from one that uses a full revaluation approach.


  • Releases details of its Registration Renewal program.
  • Announces fines totaling $6.2 million against eight member firms for violations related to the supervision of the sales of variable annuities.
  • Updates its TRACE Securities Products Web API technical specifications reflecting changes to support the reporting requirements for CMO transactions.
  • Issues Response to Comments Letter addressing comments received on its proposal to require members to disclose additional pricing information on confirmation of transactions in certain non-municipal fixed income transactions with retail customers.
  • Amends its proposal to its Rule 2232 Customer Confirmations adding clarifying language and other actions to further harmonize the rule with the companion proposal filed by the MSRB.
  • Publishes its Monthly Disciplinary Actions Report.

From Municipal Securities Rulemaking Board

  • Proposes several rule changes applicable to Municipal Advisors including recordkeeping related to customer complaints.
  • Releases its quarterly statistical summaries for 3Q 2016.
  • Files amendment of its proposal related to the disclosure of mark-up or mark-down information on customer confirmations.

From Nasdaq

  • Proposes to make explicit the authority to immediately and without prior notice to temporarily suspend access to its systems by members who are experiencing technological issues that may harm market activities.
  • Files amendment to the Limit Order Protection (LOP) for members access its market center.

From National Securities Clearing Corporation

  • Issues notice of action items required of Participants related to the upcoming matching process in RTTM.
  • Files rule change related to the industry’s move to shorten the settlement cycle from T+3 to T+2.
  • Announces several changes to Mutual Fund processing related to the DOL Fiduciary Rule.
  • Announces the roll out of a new product – Clearing Dashboard.

From New York Stock Exchange

  • Proposes a rule change as a state policy, practice or interpretation that it is not required to report to the SIP an Official Closing Price as an “M” sale condition.

From Options Clearing Corporation

  • Reminds members of the details of its plan for the pending changes to trade and post trade messaging known as the OCC Allocation System.

From the Securities & Exchange Commission

  • Chair Mary Jo White announces her intention to leave the SEC in January 2018.
  • Votes to approve the NMS Market Plan for a Consolidated Audit Trail

From UST2

  • Issues list of CUSIP numbers to be used by the industry during the testing period.