As stated in FAQ B53, transfers of securities during an account transfer between broker-dealers (e.g., ACATS transfers, transferring a Registered Investment Advisor (RIA) book of business from one Industry Member to another Industry Member and for a clearing firm when a correspondent firm changes to another clearing firm) are not orders, as defined by SEC Rule 613. Such account transfer activity as outlined above between Industry Members does not meet the definition of Mass Transfer of FDIDs across CAT Reporter Firms for CAT CAIS reporting requirements. As such, the Industry Member closing the account must populate the value of ‘ENDED’ in the roleEndReason, fdidEndReason, and ltidEndReason fields. The same guidance would apply to a firmDesignatedID (FDID) representing a Relationship ID or Entity ID.

The requirements to report mass transfer of FDIDs across CAT Reporters is limited in scope to mergers, acquisitions, and divestures. Refer to the Full CAIS Technical Specifications for Industry Members for more information.