The series will be multiple panels for FIF Members that will address the implementation considerations of the 898 page Rule. The panels are moderated by Tom Jordan, FIF Advisory Chair. The kickoff panel on February 1st was the Rule Overview and featured Wayne Aaron of the Vedder Price law firm and Matt Billings of Two Sigma. The second webinar took place on February 8th and featured John Ramsay of IEX,  Rich Steiner of RBC and Rob Mohan of Wellington. The next panel, scheduled for February 22 at 4pm ET, will focus on Governance & Pricing. Further information about this webinar will be distributed later this week.   

• Back Office Committee. On February 16, Professor James Angel of the Georgetown McDonough School of Business will discuss his recommended changes to stock lending, buy-in, short sale reporting and settlement rules in response to the recent trading activity in GameStop.
• Front Office Committee. On February 23, Mark Schaedel of Vondelpark Capital will discuss recent efforts to introduce a consolidated tape in Europe.
• Tax Information Reporting Working Group. On February 23, Andrew Bernknopf, Partner at the De Castro West law firm, will discuss Taxation of Partnership Equity Compensation and Carried Interests.
• Data and Technology Working Group. On February 24, Sean Spector of IEX will review an analysis of the performance impact of using minimum quantity on the IEX exchange.

• Back Office Committee. On February 16, Professor James Angel of the Georgetown McDonough School of Business will discuss his recommended changes to stock lending, buy-in and settlement rules in response to the recent trading activity in GameStop.
• Tax Information Reporting Working Group. On February 23, Andrew Bernknopf, Partner at the De Castro West law firm, will discuss Taxation of Partnership Equity Compensation and Carried Interests.

On February 5 FIF and the FIF CAIS Working Group Co-Chairs participated in a meeting with FINRA CAT to discuss the creation of an industry working group to address issues relating to customer identifiers as FINRA CAT starts to move forward toward implementation of CAIS. On February 3 FIF submitted comments and questions to FINRA CAT relating to the CAT transaction-reporting system and CAIS based on issues raised by FIF Members. For the upcoming week, FIF will review the updates to the Technical Specification and Reporting Scenario documents published by FINRA CAT on February 5.

On December 23, 2020, FINRA issued a request for comment on Enhancements to TRACE Reporting for U.S. Treasury Securities. On February 2 FIF held a call to review a revised draft of the comment letter on the FINRA Regulatory Notice. The next Working Group call is scheduled for February 16 for FIF members to provide any final comments on the draft comment letter. During the call, FIF members also will discuss a rule proposal by the Federal Reserve to expand TRACE reporting for Treasuries and agencies to certain depository institutions and the potential impact on broker-dealers that currently report to TRACE. The Working Group also will discuss the Recommendation Regarding Defining “Electronic Trading” for Regulatory Purposes issued by the Fixed Income Market Structure Advisory Committee (FIMSAC) on October 5, 2020 as it relates to TRACE reporting.