Highlights Recently Published Regulatory Notices 01 – 15 January 2016


From CBOE:

  • Plans to host an informal meeting for TPH’s to discuss the SPX Combo Order rule.
  • Proposes to increase the Options Regulatory Fee from $.0064 to $.0081 on February 1, 2016.

From DTC:

  • Proposes to update its Custody Service Guide to codify current procedures for assigning a value to securities held in its Custody Services for shipping insurance valuation.
  • Announces it will re-brand Settlement Web on January 27, 2016.
  • Provides a list of securities to be destroyed over the next three months as part of its Program Regarding Destruction of Non-Transferable Securities Certificates.

From FICC:

  • Announces due to a processing change at Bank of NY Mellon that maturing U.S. Treasury securities will become ineligible on the evening prior to the CUSIP’s maturity date for GCF Repo Services.
  • Sets the date of January 25, 2016 on which it will change the logic for determining which clearing bank a settling member must deliver its obligations to and receive obligations from.
  • Advises participants that the SEC has rejected Rule Filing (SR-FICC-2015-006) related to the MBSD’s VaR Methodology.


  • Releases its 2016 Regulatory & Examination Priorities Letter.
  • Issues summary of its disciplinary actions for January 2016.
  • Reminds members of the prohibition on using the FINRA logo.
  • Proposes changes to the manner in which ATS’s report volume and trading information.
  • Changes the Series 9/10 examination program effective March 7, 2016.
  • Updates OATS Reporting Technical Specifications related to the Tick Size Pilot Program.
  • Files amendment to its proposal to apply margin rules (Rule 4210) to TBA transactions.
  • Receives SEC approval to apply its mark-up and commissions rules to government securities.

From MSRB:

  • Seeks applications for Board Members.
  • Requests comment on proposed changes to its close-out procedures under Rule G-12.
  • Receives SEC approval of new Rule G-42 addressing the duties of non-solicitor municipal advisors and related amendments to Rule G-8 on books and records.

From Nasdaq:

  • Publishes updated technical specifications for its FINRA/Nasdaq TRF to include proper step-in and step-out designations and cross trades not supported on locked-in trades.
  • Proposes to adopt limit and market order protection mechanisms.

From NSCC:

  • Announces it will close its Obligation Warehouse testing region from January 19-January 22, 2016 for maintenance purposes.

From NYSE:

  • A rule change to require a member to report the capacity in which the member executes a transaction to clearing.

From OCC:

  • Announces it will move the window close time for standard monthly expirations to 8:30 PM CST starting on March 18, 2016.
  • Issues reminder of its practices related to responding to requests from external auditors.
  • Publishes detailed notice of its liquidity risk management policies as a Systemically Important Financial Market Utility.

From SEC:

  • Issues guidance outlining its view when mutual fund companies make payments to financial intermediaries.
  • Announces an increase in the rate for Section 31 fees to $21.80 per million starting February 16, 2016.
  • Publishes its examination priorities for 2016 for broker-dealers, investment advisers and national exchanges.
  • Issues notice of FINRA amendment to the proposal SR-FINRA-2015-036 to impose margin on the TBA market and requests comments from the public as to whether the SEC should approve the proposal as amended.