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July 2019
From the Hill

FINRA holds July 2019 Board of Governors Meeting.
FINRA CEO Robert Cook, Chairman Bill Heyman, Board members and FINRA staff provided updates from the meeting in a video report
Emily Westerberg Russell Named Chief Counsel of Division of Trading and Markets

The Securities and Exchange Commission today announced that Emily Westerberg Russell has been named Chief Counsel of the Division of Trading and Markets. Ms. Russell has been a member of the division’s Office of Chief Counsel for a decade, and since 2011 has served as a Senior Special Counsel in the Office of Sales Practices.
Chairman Tarbert Announces CFTC Executive Leadership Appointments
U.S. Commodity Futures Trading Commission Chairman Heath P. Tarbert announced six appointments to key executive leadership positions at the CFTC.
The Most Diverse and Engaging Market Structure Event
Register Today!
Registration for  STA's 86th Annual Market Structure Conference  is now open. Join more than 700 financial services industry professionals representing nearly 260 companies in Washington DC this October!

Current STA Members are eligible for a reduced registration rate. Register and book your room at the JW Marriott Washington DC early to take advantage of the STA group rate of $374/night.
Complimentary Registration Packages - Deadline is Aug. 5

STA will offer ten (10) Complimentary Conference Registration Packages for this year's Market Structure Conference to individuals who are in between jobs and actively pursuing a new opportunity within the securities industry.
Each package will include:
  • One (1) registration to the 86th Annual Market Structure Conference
  • Two (2) nights standard accommodation JW Marriott Washington DC
  • $500 travel voucher
STA Washington DC Meetings
STA Washington DC Meetings
STA has held several meetings recently with the SEC and Congressional Staff. Copies of STA Discussion Documents are below.

June 2019 Talking Points  here
SEC Rule 606, aka, “Order Handling Disclosure Rule”
As with any large scale industry project, regulatory guidance prior to implementation is often needed. As the Oct. 1, 2019 compliance date for data collection approaches, the industry seeks SEC guidance on a range of areas, including but not limited to, options calculations.

July 2019 Talking Points  here
SEC no-action letters under the Investment Advisers Act of 1940 on MiFID II
STA believes that a meaningful number of market participants anticipate the Commission granting an extension and/or expansion on the existing “no-action” relief. A decision to allow the relief to expire in July 2020 risks to be highly disruptive if firms are not provided adequate time to adjust to the regulatory regime. 

STA letter to SEC on proliferation of strikes in options markets
In an April 5, 2019  letter  to the SEC, STA relayed its view that the proliferation of series of options for quoting and trading has overly complicated the options markets and necessitated excessive (and thus inefficient) consummations of technology.
STA Women in Finance
“We set sail on this new sea because there is new knowledge to be gained, and new rights to be won, and they must be won and used for the progress of all people." 

"We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one which we intend to win.”

- John Fitzgerald Kennedy, September 12, 1962
Taking Stock
 brought to you JonesTrading

To the Summer Interns of 2019
by Jim Toes , STA

Through the efforts of the securities professionals sitting next to you, our markets are more efficient and more resilient than ever before. Now begins your journey and with it you carry the responsibility of safeguarding not through maintaining the status quo but by questioning it and always seeking a better solution.
Upcoming Events
 brought to you by Citadel Securities
STA Affiliate Annual Conferences
Whether you're looking to explore your city, learn more about the state of the industry or simply see some familiar faces, our affiliates stage annual events ideal for networking with industry colleagues in an enjoyable setting.
STAW Annual Conference
Thursday, August 1, 2019
Harry W. Maier Festival Park - Milwaukee, WI
CSTA Annual Conference
August 15-18, 2019
The Westin Resort & Spa - Whistler, BC 
Texas Traders Annual Convention
September 5-7, 2019
The Four Season Resort at Las Colinas - Dallas, TX
STA Student in Finance Membership

STA has created a new membership classification for full-time undergraduate and postgraduate students called  Student in Finance, or “STA SIF . STA SIF Membership is FREE and is ideal for students who want to be informed on topics and issues within the financial services industry and to connect with securities industry professionals.

If you have or know a student who wants to take their first step towards the financial services industry, have them apply today!
Media Inquiries
Sam Belden
Forefront Communications Group