Highlights Recently Published Regulatory Notices 16-30 April 2018

04 16 18 – 04 30 18 Recently Published Regulatory Notices

Highlights Recently Published Regulatory Notices

April 16-30, 2018

From Consolidated Audit Trail:

  • Updates its list of interpretive FAQs.

From Depository Trust Company:

  • Issues revision to its previous notice of transaction cutoff time for various settlement transactions as part of its Settlement Organization initiative until June 1, 2018.
  • Participants will be able to test Stock Dividend, Distributions and Corporate Reorganization processing using Memo Seg on DTC’s PSE environment starting May 1, 2018.
  • Announces migration of PART – Participant Activity Research tool – to Settlement Web on April 27, 2018.

From Fixed Income Clearing Corporation:

  • SEC approves rule change to require a minimum volatility calculation when determining a Netting Member’s VaR Charge.


  • Files rule proposal to extend by nine months, until April 12, 2019, the temporary Aggregation Exemption within its TRACE rules to allow institutions to complete required system changes and testing.
  • Issues notice that its estimates for the GASB Accounting Support fee for 2018 are between $0.0024 and $0.0030 per $1000 par value.
  • Files rule change to incorporate FinCEN ongoing customer due diligence requirements into its Rule 3110 effective May 11, 2018.
  • Extends to March 25, 2019 the implementation date of the amendments to its Rule 4210 as filed in SR-FINRA-2015-036 other than those implemented on December 15, 2016.
  • Publishes report of its efforts related to the FINRA360 initiative.
  • Reminds its members of their requirements related to the supervision of associated persons with a disciplinary history the FINRA believes to pose a risk to investors.
  • Requests comments on a proposed rule to enforce stricter standards on members that employ a broker with a significant disciplinary history.

From FinCEN:

  • Issues Advisory with an updated list of jurisdictions with strategic AML and financing of terrorism deficiencies.

From Nasdaq:

  • Announces the addition of a new liquidity code of N=Passive Midpoint Execution for midpoint orders that received price improvement better than the midpoint of the NBBO.

From National Securities Clearing Corporation:

  • Issues update to its previous notice related to ACATS modernization including additional enhancements that will be included in the release.

From the Public Company Accounting Oversight Board:

  • Issues it Annual Report for 2017.

From the U.S. Securities & Exchange Commission:

  • Announces Section 31 fees will decrease May 22, 2018 to $13.00 per million dollars.
  • Proposes new rule Regulation Best Interest to establish a standard of conduct for broker-dealers and association persons when making recommendations of securities transaction or investment strategies to a retail customer.
  • Files proposal to require broker dealers and investment advisors to provide to retail clients a Relationship Summary document and the prohibition on the use of certain titles.
  • Issues FAQs related to the Share Class Selection Disclosure initiative.
  • Launches online search feature for investors to research if the person trying to sell them investment products has been a subject of an SEC enforcement action.
  • Proposes to amend its auditor independence rule adjusting the analysis that must be conducted in the determination as to whether an auditor is independent when the auditor has lending relationship with certain shareholders of the audit client.