Highlights Recently Published Regulatory Notices 01-15 of March 2017

03 01 17 – 03 15 17 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices

01ā€“15 of March 2017

From the CBOE:

  • Proposes several amendments to its Complex Order rules.
  • Issues guidance related to the clock synchronization requirements for the Consolidated Audit Trail

From the Consumer Finance Protection Board:

  • Proposes a delay of six month for the October 1, 2017 effective date of changes to Reg E and Reg Z.

From the Department of Labor:

  • Proposes an extension of 60 days the applicability dates to its Conflict of Interest rules and the related prohibited transaction exemptions.

From Depository Trust Company:

  • Issues list of non-transferable securities to be destroyed on or after June 6, 2017.
  • Proposes to add new Rul3 35 to provide that any participant that is, or is acting on behalf of, a user of DEGCL CMS to establish one or more CMS Sub-Accounts.

From the Fixed Income Clearing Corporation:

  • Proposes several changes to its GSD Rulebook that would support the expansion of entities eligible to participant in FICC as a Sponsored Member.
  • Files rule change to provide transparency into its Rule related to its assessment and collection practices of the Intraday Mark-to-Market charge which it may impose on Clearing Members under certain situations.
  • Files to create a Centrally Cleared Institutional Triparty Clearing Service.
  • Issues reminder of processes and procedures to be followed when members experience internal system issues and need to request an extension to submit trade data.
  • Responding to the FRB raise in interest rates, the TMPG Fail Charge will change effective March 16, 2017.


  • Issues information as to the discussion held at its recent Board of Governors meeting.
  • Proposes to streamline its competency exams and offer opportunities for those seeking to enter the securities industry and those who have left the industry and want to re-enter.
  • Publishes guidance on clock synchronizations requirements under the Consolidated Audit Trail.
  • Issues its monthly report of disciplinary actions.

From Municipal Securities Rulemaking Board:

  • Request comment on draft amendments to Rule G-34 to among other things clarify the requirement for a dealer to obtain a CUSIP number for new issue securities sold in a private placement.
  • Publishes its annual Fact Book.
  • Issues notice related to Reg SCI requirements for the next mandatory test.

From Nasdaq:

  • Updates its specifications to support a new Cancel Order Reason of ā€œJā€ for orders cancelled by the system.
  • Announces a move of its DR connections for its Mutual Fund Dissemination Service from Ashburn to Chicago sometime in 2Q 2017.
  • Proposes to amend Rule 4703 Order Attributes to specify the behavior of locked or crossed orders during the open or closing cross.
  • Publishes guidance on clock synchronization requirements under the Consolidated Audit Trail.
  • Effective March 13, 2017 will modify the functionality of Post Only orders permitting a Post Only order for an issue trading at or above $1.00 to lock contra-side non-displayed orders resting on its book.

From National Securities Clearing Corporation:

  • Updates participants on its April 2017 Release of enhancements to I&RS Services.
  • Will discontinue a file it has produced that provides information on NYSE Badge numbers effective June 2, 2017.
  • Proposes amendments to further provide transparency in its Rules with respect to the Illiquid Charge.
  • Announces the expansion of scope of its ACATS Shortened Cycle enhancement initiative and changes to the schedule.

From Options Clearing Corporation:

  • Issues notice of additional security changes to ENCORE related to password standards and sessions timeout reduction.
  • Updates members on the enhancements to its margin methodology in that it has received regulatory approval and the implementation date will be April 7, 2017 for settlement date April 10, 2017.
  • Publishes revised Guide for firms that report large option positions via the LOPR platform.

From the Securities & Exchange Commission:

  • Proposes amendments to Rule 15c2-12 to amend the list of event notices that dealers acting as an underwriter in a municipal securities primary offering must determine that an issuer or obligated person must provide to the MSRB.
  • Orders exemption related to the required clock synchronization of business clocks that do not capture milliseconds to extend the compliance date until February 19, 2018.

From the UST2 Committee:

  • Issues updates to the list of CUSIP numbers to be used during industry testing.
  • Releases schedule of rule changes in support of the industry move to a shortened settlement cycle.