Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 28
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37F
R
I
SEC O
R
R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
• OCIE has devoted a full time employee to monitor and develop risk assessments of
FINRA and any new markets (e.g., securities-based swap execution facility) that would
register under the Dodd-Frank Act with the Commission.
OCIE also has enhanced its real-time oversight of the exchanges by devoting a full time
employee to non-FINRA SRO monitoring and risk assessment.
Increasing Communication and Outreach
The working group developed an SRO Communications Plan in response to concerns expressed
to BCG by the SROs regarding communication with SEC staff. Progress since the last report
includes:
• OCIE and TM staff will hold the 2013 SRO Outreach Conference in May 2013 (the
original March date for the conference was rescheduled due to inclement weather).
• SEC staff collaborated with the SROs regarding the agenda and format of the conference.
The agenda will include a joint panel of TM, OCIE, and SRO staff that will be dedicated
to discussing SRO rule filings. In connection with this panel discussion, SEC staff expect
to provide written materials to the SROs with additional guidance to assist them in
preparing certain types of rule change proposals, including new order types and fees.
SEC staff also will solicit feedback from SROs regarding rule filing matters for which
they seek further guidance. One of the key objectives at the conference will be a
discussion of the possible better practices identified by Task Force 2.
Rule Review Process Enhancement
TM staff continues to assess how to enhance the post-Dodd-Frank SRO rule change review
process in a manner that allows it to progress efficiently, while assuring adequate review of each
proposal with opportunities for input from relevant parties.
Progress since the last report includes:
• TM analyzed and is planning enhancements to the electronic form filing system for SRO
rule changes, including ways to capture and reflect in the system more information on
filings.
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