Highlights Recently Published Regulatory Notices
16 – 31 of March 2017
From the CBOE:
- Announces enhancements to its PAR Trade Book, Trade All and Sweep functions.
- Temporarily inactivates its Qualified Contingent Cross functionality for simple and complex orders.
- Will enhance its price protections for complex orders expanding protections for calendar spreads.
- Proposes amendment to its rules providing guidance on TPH reporting duties in which certain required reporting information is unknown.
- File rule change to reduce the order handling and exposure period of its AIM and SAM processes from 1 second to a time period designated by the Exchange of no less than 100 milliseconds and no more than 1 second.
From Depository Trust Company:
- Announces several enhancements to its CA Web application effective April 6, 2017.
- Issues notice and details related to Business Continuity testing for 2017.
- Files proposed change to the Private Placement Filer Form a member completes when submitting private placement filings.
- Proposes amendments to NASD/NYSE rules related to qualification and registration requirements into the FINRA Rulebook which restructures current qualification examinations and creates a new general knowledge examination.
- Issues Special Notice seeking comment on its current engagement programs.
- Publishes a list of FAQs related to its recently amended Rule 3210.
- Updates the Web API specifications for TRACE.
- Receives SEC approval of its proposal related to the protection of seniors and vulnerable adults.
From Municipal Securities Rulemaking Board:
- Files rule change related to continuing education requirements for municipal advisors.
- Announces SEC approval of a rule change to support the industry’s move to a shortened settlement cycle.
- Proposes amendments to its rules to specify the execution priority of an order that has been locked or crossed at its non-displayed price by a post-only order and re-priced for purposes of the opening, closing or halt cross.
- Announces the addition of a new liquidity code on executions for orders that removed the against price improving non-displayed liquidity.
From National Securities Clearing Corporation:
- Publishes its schedule of the rollout of new clearing dashboard presentations of CNS screens.
- Announces the implementation of new logic to identify foreign securities for the purposes on excluding them from Obligation Warehouse.
- Files rule change to enhance the matrix used to evaluate risk posed by certain members and other amendments to increase transparency.
- Updates participants on its ACATS enhancements.
- Reschedules its PSE testing of enhancements to Mutual Fund Profile Service II – Security Issue Database to April 5, 2017.
- Details its implementation plan for the Consolidated Trade Summary Re-Write which is scheduled to go live June 23, 2017.
- Announces it will cease the Parallel Period and introduce the Accelerated Trade Guaranty on April 24, 2017.
- Proposes enhancements to its I&RS Services to provide for a new data repository related to fees, expenses and commissions.
From New York Stock Exchange:
- Issues bulletin notifying its DMMs of recent amendments to its Rule 103B governing the allocation and reallocation of issuers’ securities to DMM units.
From Options Clearing Corporation:
- OCC and NSCC have agreed, pending regulatory approval, to modify their “Accord” related to issues arising from dual margin collection.
- Announces an enhancement to its On-Demand Position file to include excess closing buy and sell transactions to assist firms in trade balance and position adjustments.
- Issues details of its plans for business continuity testing in 2017.
From the Securities & Exchange Commission:
- Adopts amendment to the Settlement Cycle Rule 15c6-1(a) under the ’34 Act to shorten the standard settlement cycle from three business days after the trade date to two business days after the trade date.
- Announces the schedule of its compliance outreach programs seminars for investment companies and investment advisors for 2017.
- Adopts amendments to the JOBS Act.
- Responding to industry feedback, DTCC will change the Prime Broker disaffirmation cutoff time for the T+2 settlement environment from 9:30 AM ET T+1 to 5:00 PM ET T+1.
- Issues corporate action test events for upcoming test cycles.