80 FR 10733 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt FINRA Rule 4517 (Member Filing and Contact Information Requirements) in the Consolidated FINRA Rulebook
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 39 (February 27, 2015)
Federal Register Volume 80, Issue 39 (February 27, 2015)
| Page Range | 10733-10735 | |
| FR Document | 2015-04084 |
[Federal Register Volume 80, Number 39 (Friday, February 27, 2015)] [Notices] [Pages 10733-10735] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-04084] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74349; File No. SR-FINRA-2015-004] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt FINRA Rule 4517 (Member Filing and Contact Information Requirements) in the Consolidated FINRA Rulebook February 23, 2015. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on February 12, 2015, Financial Industry Regulatory Authority, Inc. (``FINRA'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, of which Items I and II have been prepared by FINRA. FINRA has designated the proposed rule change as constituting a ``non- controversial'' rule change under paragraph (f)(6) of Rule 19b-4 under the Act,\3\ which renders the proposal effective upon receipt of this filing by the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to adopt NASD Rules 3170 (Mandatory Electronic Filing Requirements), 1150 (Executive Representative), and 1160 (Contact Information Requirements) as FINRA Rule 4517 (Member Filing and Contact Information Requirements) without any substantive changes. FINRA also proposes to update references and cross-references within other FINRA rules accordingly. The text of the proposed rule change is available on FINRA's Web site at http://www.finra.org, at the principal office of FINRA and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose As part of the process of developing a new consolidated rulebook (``Consolidated FINRA Rulebook''),\4\ FINRA is proposing to transfer NASD Rules 3170 (Mandatory Electronic Filing Requirements), 1150 (Executive Representative), and NASD Rule 1160 (Contact Information Requirements) into the Consolidated FINRA Rulebook as FINRA Rule 4517 (Member Filing and Contact Information Requirements) without any substantive changes. --------------------------------------------------------------------------- \4\ The current FINRA rulebook consists of (1) FINRA Rules; (2) NASD Rules; and (3) rules incorporated from NYSE (``Incorporated NYSE Rules'') (together, the NASD Rules and Incorporated NYSE Rules are referred to as the ``Transitional Rulebook''). While the NASD Rules generally apply to all FINRA members, the Incorporated NYSE Rules apply only to those members of FINRA that are also members of the NYSE (``Dual Members''). The FINRA Rules apply to all FINRA members, unless such rules have a more limited application by their terms. For more information about the rulebook consolidation process, see Information Notice, March 12, 2008 (Rulebook Consolidation Process). --------------------------------------------------------------------------- Proposed FINRA Rule 4517(a): Mandatory Electronic Filing Requirements Proposed FINRA Rule 4517(a) would transfer without substantive change NASD Rule 3170 (Mandatory Electronic Filing Requirements) which requires each member to file with or otherwise submit to FINRA, in such electronic format as FINRA may require, all regulatory notices or other documents required to be filed or otherwise submitted to FINRA, as specified by FINRA. FINRA will advise firms via the Regulatory Notice process or other similar communication, as appropriate, as to each regulatory notice or document that members will be required to file with or submit in electronic format to FINRA, the compliance date for the electronic filing or submission, and the requisite manner and format.\5\ --------------------------------------------------------------------------- \5\ The proposed rule change does not affect any current filing or submission requirements issued pursuant to NASD Rule 3170, which remain effective, subject to any future changes FINRA may make pursuant to proposed FINRA Rule 4517 once the rule becomes effective. See, e.g., Notice to Members 06-61 (November 2006) (announcing SEC approval of NASD Rule 3170 and specifying various financial notices to which NASD Rule 3170 would apply), Regulatory Notice 08-67 (November 2008) (requiring electronic submission of, among other things, qualification examination waivers pursuant to NASD Rule 3170), and Regulatory Notice 11-46 (October 2011) (requiring electronic submission of annual audit reports pursuant to NASD Rule 3170). See also Regulatory Notice 08-11 (March 2008) (addressing frequently asked questions on NASD Rule 3170). --------------------------------------------------------------------------- Proposed FINRA Rule 4517(b): Executive Representative Proposed FINRA Rule 4517(b) would transfer without substantive change NASD Rule 1150, the provision requiring that each member must identify, review and, if necessary, update its executive representative designation and contact information as required by Article IV, Section 3 of the NASD By-Laws in the manner prescribed by NASD Rule 1160. The proposed rule would replace the references to the legacy NASD By-Laws and rule with FINRA By-Laws and rule. Proposed FINRA Rule 4517(c): Review and Update of Contact Information Proposed FINRA Rule 4517(c) would transfer without substantive changes the requirements of NASD Rule 1160 (Contact Information Requirements). The only changes to the proposed rule text are minor editorial changes to reflect current nomenclature, and to assist and enhance readability. NASD Rule 1160 requires members to report and update contact information to FINRA via the ``NASD Contact System or such other means as NASD may specify,'' and to promptly comply with any FINRA request for the required contact information. Currently, NASD Rule 1160 supports members' compliance with NASD Rule 1150 (Executive Representative) and FINRA Rules 1250 (Continuing Education Requirements), 3310.02 (Review of Anti-Money Laundering Compliance Person Information), and 4370 (Business Continuity Plans and Emergency Contact Information), which all require members to provide FINRA with designated contact person information. Proposed FINRA Rule 4517(c) would require each member to report and update to FINRA all contact information applicable to the member that FINRA [[Page 10734]] requires via the Firm Gateway[supreg] or such other means as FINRA may specify. Member firms already use the Firm Gateway, a web-based tool that provides consolidated access to FINRA regulatory and filing applications, to access the FINRA Contact System. Proposed FINRA Rule 4517(c) would reflect the current nomenclature of a FINRA application that has been in use by its members since 2007.\6\ --------------------------------------------------------------------------- \6\ See FINRA News Release, Clicking on Compliance: FINRA Launches Firm Gateway (Oct. 11, 2007). --------------------------------------------------------------------------- In addition, proposed FINRA Rule 4517(c)(1) would require a member to update its contact information promptly, but in any event not later than 30 days following any change in such information, and review, and if necessary, update the required contact information within 17 business days after the end of each calendar year. This proposed provision replaces the nearly identical provision in NASD Rule 1160(b) but with a minor editorial change to delete the phrase ``via the NASD Contact System or such other means as NASD may specify'' from the proposed rule text, because the phrase already appears in proposed paragraph (c). Furthermore, proposed FINRA Rule 4517(c)(2) would require that each firm comply promptly with any FINRA request for the required contact information, but in any event not later than 15 days following the request, or such longer period that may be agreed to by FINRA staff. This proposed provision replaces the nearly identical provision in NASD Rule 1160(c) but with the minor editorial change from NASD Rule 1160(c)'s ``such information'' to ``the required contact information'' to enhance the readability of the proposed rule. As with NASD Rule 1160, the proposed rule change would not relieve firms from any separate requirements to update such information.\7\ --------------------------------------------------------------------------- \7\ For example, a member must identify, among others, its Chief Executive Officer and Chief Compliance Officer on Form BD, and promptly update such information by submitting an amendment whenever the information becomes inaccurate or incomplete for any reason. See also Article IV, Section 1(c) of the FINRA By-Laws, requiring each member to ensure that its membership application is kept current at all times by supplementary amendments, and to file such amendment no later than 30 days after learning of the facts or circumstances giving rise to the amendment. --------------------------------------------------------------------------- The proposed rule change would also replace all references to NASD Rules 1150 and 1160 in FINRA Rules 1250 (Continuing Education Requirements), 3310.02 (Review of Anti-Money Laundering Compliance Person Information), 4370 (Business Continuity Plans and Emergency Contact Information), and 9217 (Violations Appropriate for Disposition Under Plan Pursuant to SEA Rule 19d-1(c)(2)) with references to proposed FINRA Rule 4517 accordingly. FINRA has filed the proposed rule change for immediate effectiveness and has requested that the SEC waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing so that FINRA can implement the proposed rule change immediately. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Act,\8\ which requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. FINRA believes that the proposed rule change, which does not substantively change the rules, is consistent with the Act because it is being undertaken pursuant to the rulebook consolidation process, which is designed to provide additional clarity and regulatory efficiency to FINRA members by consolidating the applicable NASD, Incorporated NYSE and FINRA rules into one rule set. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78o-3(b)(6). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition FINRA does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. As noted above, this proposal will not substantively change either the text or application of the rules. FINRA would like to proceed with the rulebook consolidation process expeditiously, which it believes will provide additional clarity and regulatory efficiency to members. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received with respect to this proposal to transfer NASD Rules 1150, 1160 and 3170 into the Consolidated FINRA Rulebook without any substantive changes.\9\ --------------------------------------------------------------------------- \9\ FINRA previously solicited comment on a proposal to adopt FINRA Rule 4540 (Member Information and Data Reporting and Filing Requirements) which, among other things, would have incorporated the substance of NASD Rules 1160 and 3170, and deleted NASD Rule 1150. See Regulatory Notice 09-02 (January 2009). Given that FINRA would like to proceed with the rulebook consolidation process expeditiously to provide greater clarity and regulatory efficiency to FINRA members, FINRA is proposing in this rule change to adopt NASD Rules 1150, 1160 and 3170 without substantive changes, and will consider at a later date whether to propose substantive changes to these rules. FINRA has determined to transfer NASD Rule 1150 into the Consolidated FINRA Rulebook rather than delete its content in the interest of providing clarity to member firms of their obligation under the FINRA By-Laws to appoint an Executive Representative. One commenter to Regulatory Notice 09-02 suggested that FINRA extend from 17 business days to 30 days the period in which a member must annually review and update its contact information. See Letter from Dale E. Brown, Financial Services Institute, to Marcia E. Asquith, FINRA, dated February 20, 2009. The proposed rule change, however, would retain NASD Rule 1160's requirement that a member update its contact information promptly, but no later than 30 days following any change in the information, and annually verify the information within 17 business days after the end of the calendar year. As FINRA stated when it proposed NASD Rule 1160, the 17-business day window is consistent with the requirement that a member's FOCUS report be submitted within 17 business days after the end of each quarter. See Securities Exchange Act Release No. 55810 (May 24, 2007), 72 FR 30404 (May 31, 2007) (Notice of Filing of File No. SR-NASD-2007-034). FINRA reminds its members to annually review and update, if necessary, their designated contact information through several ways such as announcements and alerts in the Firm Gateway, and electronic communications to the firm's Chief Compliance Officer(s) and Executive Representative. --------------------------------------------------------------------------- III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b- 4(f)(6) thereunder.\11\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). \11\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Section 19(b)(3)(A) of the Act \12\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. FINRA has asked the Commission to waive the 30-day operative delay so that the proposal may become operative upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Because FINRA is proposing to transfer [[Page 10735]] NASD Rule 3170 (Mandatory Electronic Filing Requirements), NASD Rule 1150 (Executive Representative), and NASD Rule 1160 (Contact Information Requirements) into the Consolidated FINRA rulebook as FINRA Rule 4517 (Member Filing and Contact Information Requirements) without any substantive changes, to update cross-references accordingly and reflect current nomenclature, and to thereby clarify FINRA's rules, and because the rulebook consolidation process is designed to provide additional clarity and regulatory efficiency to members, the Commission believes that a waiver of the requirement is appropriate so that the rule change may become operative immediately. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposal effective upon filing.\14\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 17 CFR 240.19b-4(f)(6)(iii). \14\ For purposes of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-FINRA-2015-004 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-FINRA-2015-004. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for inspection and copying at the principal office of FINRA. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-FINRA-2015- 004, and should be submitted on or before March 20, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Jill M. Peterson, Assistant Secretary. [FR Doc. 2015-04084 Filed 2-26-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 39 / Friday, February 27, 2015 / Notices 10733
For further information, please office of FINRA and at the with or submit in electronic format to
contact the Office of the Secretary at Commission’s Public Reference Room. FINRA, the compliance date for the
(202) 551–5400. electronic filing or submission, and the
II. Self-Regulatory Organization’s
Dated: February 25, 2015. requisite manner and format.5
Statement of the Purpose of, and
Jill M. Peterson, Statutory Basis for, the Proposed Rule Proposed FINRA Rule 4517(b):
Assistant Secretary. Change Executive Representative
[FR Doc. 2015–04264 Filed 2–25–15; 4:15 pm] In its filing with the Commission, Proposed FINRA Rule 4517(b) would
BILLING CODE 8011–01–P FINRA included statements concerning transfer without substantive change
the purpose of and basis for the NASD Rule 1150, the provision
proposed rule change and discussed any requiring that each member must
SECURITIES AND EXCHANGE comments it received on the proposed identify, review and, if necessary,
COMMISSION rule change. The text of these statements update its executive representative
[Release No. 34–74349; File No. SR–FINRA– may be examined at the places specified designation and contact information as
2015–004] in Item IV below. FINRA has prepared required by Article IV, Section 3 of the
summaries, set forth in sections A, B, NASD By-Laws in the manner
Self-Regulatory Organizations; and C below, of the most significant prescribed by NASD Rule 1160. The
Financial Industry Regulatory aspects of such statements. proposed rule would replace the
Authority, Inc.; Notice of Filing and references to the legacy NASD By-Laws
A. Self-Regulatory Organization’s
Immediate Effectiveness of a Proposed and rule with FINRA By-Laws and rule.
Statement of the Purpose of, and
Rule Change To Adopt FINRA Rule
Statutory Basis for, the Proposed Rule Proposed FINRA Rule 4517(c): Review
4517 (Member Filing and Contact
Change and Update of Contact Information
Information Requirements) in the
Consolidated FINRA Rulebook 1. Purpose Proposed FINRA Rule 4517(c) would
transfer without substantive changes the
February 23, 2015. As part of the process of developing
requirements of NASD Rule 1160
Pursuant to Section 19(b)(1) of the a new consolidated rulebook
(Contact Information Requirements).
Securities Exchange Act of 1934 (‘‘Consolidated FINRA Rulebook’’),4
The only changes to the proposed rule
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 FINRA is proposing to transfer NASD
text are minor editorial changes to
notice is hereby given that on February Rules 3170 (Mandatory Electronic Filing
reflect current nomenclature, and to
12, 2015, Financial Industry Regulatory Requirements), 1150 (Executive
assist and enhance readability. NASD
Authority, Inc. (‘‘FINRA’’) filed with the Representative), and NASD Rule 1160
Rule 1160 requires members to report
Securities and Exchange Commission (Contact Information Requirements) into
and update contact information to
(‘‘SEC’’ or ‘‘Commission’’) the proposed the Consolidated FINRA Rulebook as
FINRA via the ‘‘NASD Contact System
rule change as described in Items I, II, FINRA Rule 4517 (Member Filing and
or such other means as NASD may
and III below, of which Items I and II Contact Information Requirements)
specify,’’ and to promptly comply with
have been prepared by FINRA. FINRA without any substantive changes.
any FINRA request for the required
has designated the proposed rule change Proposed FINRA Rule 4517(a): contact information. Currently, NASD
as constituting a ‘‘non-controversial’’ Mandatory Electronic Filing Rule 1160 supports members’
rule change under paragraph (f)(6) of Requirements compliance with NASD Rule 1150
Rule 19b–4 under the Act,3 which (Executive Representative) and FINRA
Proposed FINRA Rule 4517(a) would
renders the proposal effective upon Rules 1250 (Continuing Education
transfer without substantive change
receipt of this filing by the Commission. Requirements), 3310.02 (Review of Anti-
NASD Rule 3170 (Mandatory Electronic
The Commission is publishing this Money Laundering Compliance Person
Filing Requirements) which requires
notice to solicit comments on the Information), and 4370 (Business
each member to file with or otherwise
proposed rule change from interested Continuity Plans and Emergency
submit to FINRA, in such electronic
persons. Contact Information), which all require
format as FINRA may require, all
I. Self-Regulatory Organization’s regulatory notices or other documents members to provide FINRA with
Statement of the Terms of Substance of required to be filed or otherwise designated contact person information.
the Proposed Rule Change submitted to FINRA, as specified by Proposed FINRA Rule 4517(c) would
FINRA. FINRA will advise firms via the require each member to report and
FINRA is proposing to adopt NASD update to FINRA all contact information
Rules 3170 (Mandatory Electronic Filing Regulatory Notice process or other
similar communication, as appropriate, applicable to the member that FINRA
Requirements), 1150 (Executive
Representative), and 1160 (Contact as to each regulatory notice or document 5 The proposed rule change does not affect any
Information Requirements) as FINRA that members will be required to file current filing or submission requirements issued
Rule 4517 (Member Filing and Contact pursuant to NASD Rule 3170, which remain
4 The current FINRA rulebook consists of (1) effective, subject to any future changes FINRA may
Information Requirements) without any FINRA Rules; (2) NASD Rules; and (3) rules make pursuant to proposed FINRA Rule 4517 once
substantive changes. FINRA also incorporated from NYSE (‘‘Incorporated NYSE the rule becomes effective. See, e.g., Notice to
proposes to update references and cross- Rules’’) (together, the NASD Rules and Incorporated Members 06–61 (November 2006) (announcing SEC
references within other FINRA rules NYSE Rules are referred to as the ‘‘Transitional approval of NASD Rule 3170 and specifying various
Rulebook’’). While the NASD Rules generally apply financial notices to which NASD Rule 3170 would
mstockstill on DSK4VPTVN1PROD with NOTICES
accordingly. to all FINRA members, the Incorporated NYSE apply), Regulatory Notice 08–67 (November 2008)
The text of the proposed rule change Rules apply only to those members of FINRA that (requiring electronic submission of, among other
is available on FINRA’s Web site at are also members of the NYSE (‘‘Dual Members’’). things, qualification examination waivers pursuant
http://www.finra.org, at the principal The FINRA Rules apply to all FINRA members, to NASD Rule 3170), and Regulatory Notice 11–46
unless such rules have a more limited application (October 2011) (requiring electronic submission of
by their terms. For more information about the annual audit reports pursuant to NASD Rule 3170).
1 15 U.S.C. 78s(b)(1). rulebook consolidation process, see Information See also Regulatory Notice 08–11 (March 2008)
2 17 CFR 240.19b–4. Notice, March 12, 2008 (Rulebook Consolidation (addressing frequently asked questions on NASD
3 17 CFR 240.19b–4(f)(6). Process). Rule 3170).
VerDate Sep<11>2014 18:05 Feb 26, 2015 Jkt 235001 PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 E:\FR\FM\27FEN1.SGM 27FEN1](https://thefederalregister.org/doc/80_FR_10772/page/1.svg)
![Federal Register / Vol. 80, No. 39 / Friday, February 27, 2015 / Notices 10735
NASD Rule 3170 (Mandatory Electronic please use only one method. The Exchange has designated the proposed
Filing Requirements), NASD Rule 1150 Commission will post all comments on rule change as one establishing or
(Executive Representative), and NASD the Commission’s Internet Web site changing a member due, fee, or other
Rule 1160 (Contact Information (http://www.sec.gov/rules/sro.shtml). charge imposed by the Exchange under
Requirements) into the Consolidated Copies of the submission, all subsequent Section 19(b)(3)(A)(ii) of the Act 3 and
FINRA rulebook as FINRA Rule 4517 amendments, all written statements Rule 19b–4(f)(2) thereunder,4 which
(Member Filing and Contact Information with respect to the proposed rule renders the proposed rule change
Requirements) without any substantive change that are filed with the effective upon filing with the
changes, to update cross-references Commission, and all written Commission. The Commission is
accordingly and reflect current communications relating to the publishing this notice to solicit
nomenclature, and to thereby clarify proposed rule change between the comments on the proposed rule change
FINRA’s rules, and because the rulebook Commission and any person, other than from interested persons.
consolidation process is designed to those that may be withheld from the
I. Self-Regulatory Organization’s
provide additional clarity and public in accordance with the
Statement of the Terms of the Substance
regulatory efficiency to members, the provisions of 5 U.S.C. 552, will be
of the Proposed Rule Change
Commission believes that a waiver of available for Web site viewing and
the requirement is appropriate so that printing in the Commission’s Public The Exchange filed a proposal to
the rule change may become operative Reference Room, 100 F Street NE., amend the fee schedule applicable to
immediately. Therefore, the Washington, DC 20549, on official Members 5 and non-members of the
Commission hereby waives the 30-day business days between the hours of Exchange pursuant to BATS Rules
operative delay and designates the 10:00 a.m. and 3:00 p.m. Copies of such 15.1(a) and (c). Changes to the fee
proposal effective upon filing.14 filing also will be available for schedule pursuant to this proposal are
At any time within 60 days of the inspection and copying at the principal effective upon filing.
office of FINRA. All comments received The text of the proposed rule change
filing of the proposed rule change, the
will be posted without change; the is available at the Exchange’s Web site
Commission summarily may
Commission does not edit personal at www.batstrading.com, at the
temporarily suspend such rule change if
identifying information from principal office of the Exchange, and at
it appears to the Commission that such
submissions. You should submit only the Commission’s Public Reference
action is necessary or appropriate in the
information that you wish to make Room.
public interest, for the protection of
investors, or otherwise in furtherance of available publicly. All submissions II. Self-Regulatory Organization’s
the purposes of the Act. If the should refer to File Number SR–FINRA– Statement of the Purpose of, and
Commission takes such action, the 2015–004, and should be submitted on Statutory Basis for, the Proposed Rule
Commission shall institute proceedings or before March 20, 2015. Change
to determine whether the proposed rule For the Commission, by the Division of In its filing with the Commission, the
should be approved or disapproved. Trading and Markets, pursuant to delegated Exchange included statements
authority.15
IV. Solicitation of Comments concerning the purpose of and basis for
Jill M. Peterson,
the proposed rule change and discussed
Interested persons are invited to Assistant Secretary. any comments it received on the
submit written data, views, and [FR Doc. 2015–04084 Filed 2–26–15; 8:45 am] proposed rule change. The text of these
arguments concerning the foregoing, BILLING CODE 8011–01–P statements may be examined at the
including whether the proposed rule places specified in Item IV below. The
change is consistent with the Act. Exchange has prepared summaries, set
Comments may be submitted by any of SECURITIES AND EXCHANGE forth in Sections A, B, and C below, of
the following methods: COMMISSION the most significant parts of such
Electronic Comments [Release No. 34–74352; File No. SR–BATS– statements.
2015–13]
• Use the Commission’s Internet A. Self-Regulatory Organization’s
comment form (http://www.sec.gov/ Self-Regulatory Organizations; BATS Statement of the Purpose of, and
rules/sro.shtml); or Exchange, Inc.; Notice of Filing and Statutory Basis for, the Proposed Rule
• Send an email to rule-comments@ Immediate Effectiveness of a Proposed Change
sec.gov. Please include File Number SR– Rule Change Related to Fees for Use 1. Purpose
FINRA–2015–004 on the subject line. of BATS Exchange, Inc.
The Exchange proposes to modify its
Paper Comments February 23, 2015. fee schedule in order to: (1) remove the
• Send paper comments in triplicate Pursuant to Section 19(b)(1) of the reference to ROLF from fee code BO; (2)
to Brent J. Fields, Secretary, Securities Securities Exchange Act of 1934 (the make certain changes to Cross-Asset
and Exchange Commission, 100 F Street ‘‘Act’’),1 and Rule 19b–4 thereunder,2 Step-Up Tier 3; and (3) make certain
NE., Washington, DC 20549–1090. notice is hereby given that on February non-substantive clean-up changes to the
10, 2015, BATS Exchange, Inc. (the fee schedule.
All submissions should refer to File
Number SR–FINRA–2015–004. This file ‘‘Exchange’’ or ‘‘BATS’’) filed with the Deleting Reference to ROLF
number should be included on the Securities and Exchange Commission
The Exchange proposes to amend its
mstockstill on DSK4VPTVN1PROD with NOTICES
subject line if email is used. (‘‘Commission’’) the proposed rule
change as described in Items I, II, and fee schedule to remove the reference to
To help the Commission process and
review your comments more efficiently, III below, which Items have been 3 15 U.S.C. 78s(b)(3)(A)(ii).
prepared by the Exchange. The 4 17 CFR 240.19b–4(f)(2).
14 For purposes of waiving the 30-day operative 5 The term ‘‘Member’’ is defined as ‘‘any
15 17 CFR 200.30–3(a)(12).
delay, the Commission has considered the proposed registered broker or dealer that has been admitted
1 15 U.S.C. 78s(b)(1).
rule’s impact on efficiency, competition, and capital to membership in the Exchange.’’ See Exchange
formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. Rule 1.5(n).
VerDate Sep<11>2014 18:05 Feb 26, 2015 Jkt 235001 PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 E:\FR\FM\27FEN1.SGM 27FEN1](https://thefederalregister.org/doc/80_FR_10772/page/3.svg)
Document Created: 2015-12-18 13:14:20
Document Modified: 2015-12-18 13:14:20
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 10733 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR