SEC Open Meeting on Expanding the Definition of “Dealer”

The SEC has scheduled an open meeting for Tuesday February 6 at 10 am ET (rescheduled from January 31). At the meeting, “The Commission will consider whether to adopt new rules to further define the phrase ‘as a part of a regular business’ as used in the statutory definitions of the terms ‘dealer’ and ‘government securities dealer’ under the Securities Exchange Act of 1934, in connection with certain liquidity providers.” You can access the meeting from the SEC’s home page at the scheduled start time for the meeting.

POSTED Feb 05,2024

Rule 605 Working Group

FIF has scheduled a call for the Rule 605 Working Group for Tuesday February 6 at 3 pm ET. The Working Group will review a draft supplemental FIF comment letter on the SEC’s rule proposal to modernize Rule 605.

POSTED Feb 05,2024

TRACE Working Group

The next call for the TRACE Working Group will be on Thursday February 8 at 2 pm ET. The agenda for the call will be to review and discuss a revised draft of the FIF comment letter on (i) the January 11 rule filing by FINRA to reduce to one minute the TRACE reporting timeframe for securities that are currently subject to a fifteen-minute reporting timeframe and (ii) the parallel rule filing by the MSRB on January 12

POSTED Feb 05,2024

Tax Information Reporting Working Group

The next call for the FIF Tax Information Reporting Working Group will be on Thursday February 8 at 3 pm ET. Representatives from Wolters Kluwer will discuss tax considerations for trading Bitcoin ETFs.

POSTED Feb 05,2024

Fractional Shares

FINRA representatives have notified FIF that FINRA is considering changes to the TRF and ORF reporting systems to allow for reporting of fractional shares. FIF has scheduled a call for the Data and Technology Committee, the CAT Transaction Reporting Working Group, the Fractional Shares Subgroup, and the TRF Reporting Subgroup to discuss the implications of this change for TRF and ORF reporting, the SIP feed and CAT fees. FIF has scheduled this call for Monday February 12 at 3 pm ET.

POSTED Feb 05,2024

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