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- Technical Specifications
- Technical Specifications
- FAQQ12. Are regulators expecting complete accuracy with respect to the ltidEndReason and roleEndReason?Industry Members should make a reasonable effort to obtain an accurate reason as to why the LTID, ULTID or Customer is no longer associated to the FDID. Starting with the implementation of Full CAIS, if the facts and circumstances regarding why an association was ended cannot be reasonably…
- FAQQ7. Is an Industry Member permitted to provide Sensitive Identifiers, dates of birth and account numbers as a part of the Customer Identifying Information and Customer Account Information?No. Sensitive Identifiers are defined in the Customer and Account Information Technical Specifications as Social Security Number and Individual Taxpayer Identification Identifiers. Industry Members must not provide Sensitive Identifiers, nor full dates of birth for individuals, nor…
- FAQQ19. When will the FDID Refresh Reports be delivered in the Production Environment and by what date must Industry Members comply with the Periodic Customer & Account Information Refresh requirement?Periodic Customer Account refreshes were not required in the LTID Phase but are required in the Full CAIS Phase. Note, FDIDs that are accepted in daily submissions will have met the refresh requirement. In light of the proposed amendment to the CAT NMS Plan regarding CAIS reporting…
- EventAudio fileOn Wednesday, June 9, 2021 at 4:15 pm ET, Consolidated Audit Trail, LLC and FINRA CAT, LLC will host an industry webinar to provide an overview of the CAIS Report Card. The webinar will follow the regularly scheduled Industry Testing Checkpoint Call for CAIS/LTID. Please note that FINRA…
- FAQFor the purposes of CAT CAIS, the value ‘ADVISER’ in the customerType field has the same definition as “Investment Adviser” in Section 202(a)(11) of the Investment Advisers Act of 1940. Further, a customer is considered associated with a US registered Investment Adviser if they are such a person…
- FAQQ26. What actions does a Reporting Agent need to take to certify the broker-dealers (CRDs) it will be reporting on behalf of?Please see the Industry Member CAIS Onboarding Guide for complete details. For the LTID Phase, Reporting Agents should aggregate the number of accounts with associated LTIDs across all of its broker-dealers (CRDs) it is reporting for. The certification requirements will apply against the…
- FAQQ53. FAQ B53 states that account transfers between broker-dealers are not orders, as defined by Rule 613. How should such activity be reflected in CAIS?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…
- FAQQ63. How must an FDID Record be reported to CAIS when the account holder is a foreign trust or foreign estate where an allowable Input Identifier value does not exist because the foreign country or foreign municipality does not require or issue any kind of identifier for the foreign trust or foreign estate, and no such other allowable Input Identifier exists? For example, the foreign trust or foreign estate has no associated Legal Entity Identifier (LEI), and is also not assigned any National Registration or Tax Identifier, or any other governmental-issued identifier by a non-national level government body or agency, such as a corporate registry.In limited circumstances where a Legal Entity meets the following criteria: Foreign trust or foreign estate; and No allowable Input Identifier exists because the foreign country or foreign municipality does not require or issue any kind of identifier; and no LEI is assigned to the entity…