80 FR 42149 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 6730 (Transaction Reporting) To Require Members To Report Transactions in TRACE-Eligible Securities as Soon as Practicable
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 136 (July 16, 2015)
Federal Register Volume 80, Issue 136 (July 16, 2015)
| Page Range | 42149-42151 | |
| FR Document | 2015-17402 |
[Federal Register Volume 80, Number 136 (Thursday, July 16, 2015)] [Notices] [Pages 42149-42151] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-17402] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75428; File No. SR-FINRA-2015-025] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 6730 (Transaction Reporting) To Require Members To Report Transactions in TRACE-Eligible Securities as Soon as Practicable July 10, 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 July 2, 2015, Financial Industry Regulatory Authority, Inc. (``FINRA'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by FINRA. 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to codify that members are required to report transactions in TRACE-Eligible Securities subject to dissemination as soon as practicable. 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 FINRA Rule 6730 (Transaction Reporting) generally requires that each FINRA member that is a Party to a Transaction \3\ in a TRACE- Eligible Security \4\ report the transaction within 15 minutes of the Time of Execution,\5\ unless a different time period for the security is otherwise specified in the rule, or the transaction report will be deemed ``late.'' Paragraph (a)(4) of Rule 6730 further provides that members have an ongoing obligation to report transaction information promptly, accurately and completely.\6\ --------------------------------------------------------------------------- \3\ Rule 6710(e) provides that a ``Party to a Transaction'' is an introducing broker-dealer, if any, an executing broker-dealer, or a customer. ``Customer'' includes a broker-dealer that is not a FINRA member. \4\ Rule 6710(a) provides that a ``TRACE-Eligible Security'' is a debt security that is United States dollar-denominated and issued by a U.S. or foreign private issuer, and, if a ``restricted security'' as defined in Securities Act Rule 144(a)(3), sold pursuant to Securities Act Rule 144A; or is a debt security that is U.S. dollar-denominated and issued or guaranteed by an Agency as defined in paragraph (k) or a Government-Sponsored Enterprise as defined in paragraph (n). ``TRACE-Eligible Security'' does not include a debt security that is: Issued by a foreign sovereign, a U.S. Treasury Security as defined in paragraph (p), or a Money Market Instrument as defined in paragraph (o). \5\ Among other things, Rule 6710(d) provides that the ``Time of Execution'' for a transaction in a TRACE-Eligible Security means the time when the Parties to a Transaction agree to all of the terms of the transaction that are sufficient to calculate the dollar price of the trade. \6\ While a member may employ an agent for the purpose of submitting transaction information, the primary responsibility for the timely, accurate and complete reporting of transaction information remains the non-delegable duty of the member obligated to report the transaction. --------------------------------------------------------------------------- FINRA is filing this proposed rule change to codify that members are expected to report transactions in TRACE-Eligible Securities that are subject to dissemination as soon as practicable following the Time of Execution, and must not deliberately delay their reporting.\7\ While FINRA provides a time period for members to conduct the necessary actions to report transactions, FINRA believes it is important for public price transparency that members do not delay reporting executed transactions and has conveyed this expectation to members.\8\ FINRA [[Page 42150]] now proposes to amend Rule 6730 to provide in the rule text that each member that is a Party to a Transaction in a TRACE-Eligible Security that is subject to dissemination must report the transaction to TRACE as soon as practicable, but no later than within 15 minutes of the Time of Execution, or other timeframe specified in Rule 6730. Further, the proposed amendment includes new Supplementary Material .03 to provide additional guidance around FINRA's expectations regarding the timeliness of reports submitted to TRACE. Specifically, new Rule 6730.03 provides that members must adopt policies and procedures reasonably designed to comply with the requirement that transactions in TRACE-Eligible Securities that are subject to dissemination be reported as soon as practicable by implementing systems that commence the trade reporting process at the Time of Execution without delay. In addition, where a member has such reasonably designed policies, procedures and systems in place, the member generally will not be viewed as violating the ``as soon as practicable'' requirement because of delays in trade reporting that are due to extrinsic factors that are not reasonably predictable and where the member does not purposely intend to delay the reporting of the trade. In no event may a member purposely withhold trade reports, e.g., by programming its systems to delay reporting until the end of the reporting time period. --------------------------------------------------------------------------- \7\ FINRA Rule 6750 (Dissemination of Transaction Information) provides that FINRA will disseminate information on all transactions in TRACE-Eligible Securities, including transactions effected pursuant to Securities Act Rule 144A, immediately upon receipt of the transaction report, except as specified in the rule. \8\ For example, in a Notice regarding TRACE trade reporting obligations for transactions in Asset-Backed Securities (ABS), FINRA stated that, although firms have up to two business days to report transactions in ABSs, firms should submit reports as soon as practicable after the execution of a transaction and throughout the trading day, rather than queuing such reports until the end of the reporting time period. Trade Reporting Notice, May 10, 2011 (Reporting Asset-Backed Securities to the Trade Reporting and Compliance Engine). In addition, in Regulatory Notice 12-52 (December 2012), FINRA stated that transactions in securities subject to TRACE reporting requirements should be reported without delay, even though the TRACE rule generally allows for up to 15 minutes to report transactions in corporate and agency debt securities. See also Letter from Brant K. Brown, Associate General Counsel, FINRA, to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, dated August 29, 2012 (Letter Responding to Comments received on SR-FINRA-2012-025). FINRA also has already codified the ``as soon as practicable'' requirement for the reporting of transactions to the equity trade reporting facilities, which require reporting as soon as practicable but no later than 10 seconds after execution. See FINRA Rules 6282 (governing transaction reporting on the ADF), 6380A (governing transaction reporting on the FINRA/NASDAQ TRF), 6380B (governing transaction reporting on the FINRA/NYSE TRF) and 6622 (Transaction Reporting on the FINRA ORF). --------------------------------------------------------------------------- The supplementary material also recognizes that members may manually report transactions in TRACE-Eligible Securities and, as a result, the trade reporting process may not be completed as quickly as where an automated trade reporting system is used. In these cases, FINRA will take into consideration the manual nature of the member's trade reporting process in determining whether the member's policies and procedures are reasonably designed to report the trade ``as soon as practicable'' after execution. FINRA believes that codifying this ``as soon as practicable'' requirement is necessary to promote consistent and timely reporting by all members and will improve the usefulness of disseminated TRACE information for investors. If the Commission approves the filing, FINRA will announce the effective date of the proposed rule change in a Regulatory Notice to be published no later than 60 days following Commission approval. The effective date will be no sooner than 30 days following publication of the Regulatory Notice announcing Commission approval. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of section 15A(b)(6) of the Act,\9\ 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. In particular, the proposed rule would require that members report transactions in TRACE-Eligible Securities that are subject to dissemination as soon as practicable from the Time of Execution. FINRA believes it is important to ensure that members do not delay the reporting of executed transactions, particularly, for example, by imbedding into the trade reporting process deliberate delays until the end of the reporting time period. Specifically, the proposed rule change will help improve the value of transaction information for price transparency, which enhances its value for regulators, investors and other market participants. --------------------------------------------------------------------------- \9\ 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. Economic Impact Assessment The proposed rule change seeks to codify that members are expected to report transactions in TRACE-Eligible Securities as soon as practicable following the Time of Execution, and must not deliberately delay their reporting. The economic baseline of the proposed rule change is the current rules and industry practice relating to trade reporting. As discussed above, the proposed rule change is consistent with FINRA's current expectation that members submit trade reports as soon as practicable. Further, FINRA understands that the vast majority of firms that report transactions to TRACE have automated their trade reporting systems, which may facilitate their ability to comply with this rule. For example, based on a review of TRACE trade reporting data from January 2014 through December 2014, over 90% of trade reports in corporate and agency debt are submitted within five minutes of the time of execution, and 79% percent were reported within one minute. Approximately 71% of trade reports in securitized products are submitted within five minutes of execution, and over 55% were reported within one minute. FINRA recognizes that reporting within a short time frame may not mean that firms are reporting as soon as practicable, but does indicate general timeliness in reporting. FINRA has observed instances that appear to indicate firms have taken more time than is operationally necessary to report trades, which results in delays in transaction information reaching investors and other market participants, and may raise the possibility that certain firms may have intentionally delayed trade reporting, possibly to delay public dissemination of the trade. FINRA believes such conduct is inconsistent with the purpose of the trade reporting rules and further believes that explicitly prohibiting such conduct is important for the effective operation of the rule. Therefore, FINRA expects that the primary economic benefit arising from this proposed rule change will be a reduction in the delay between a transaction's Time of Execution and when a member reports the trade to TRACE, which will result in more timely information being disseminated to investors and other market participants. FINRA also believes that the proposal will provide further clarity as to the operation of Rule 6730--particularly in clarifying that intentionally delaying trade reporting is [[Page 42151]] violative of a member's ongoing obligation to report transaction information to TRACE promptly. FINRA anticipates that this rule will not impose any significant new compliance costs on 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be 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-2015-025 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-FINRA-2015-025. 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 the 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-2015-025 and should be submitted on or before August 6, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\10\ --------------------------------------------------------------------------- \10\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Jill M. Peterson, Assistant Secretary. [FR Doc. 2015-17402 Filed 7-15-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 136 / Thursday, July 16, 2015 / Notices 42149
• Send an email to rule-comments@ SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
sec.gov. Please include File Number SR– COMMISSION Statement of the Purpose of, and
ICEEU–2015–010 on the subject line. Statutory Basis for, the Proposed Rule
[Release No. 34–75428; File No. SR–FINRA– Change
Paper Comments
2015–025] 1. Purpose
• Send paper comments in triplicate FINRA Rule 6730 (Transaction
to Secretary, Securities and Exchange Self-Regulatory Organizations;
Reporting) generally requires that each
Commission, 100 F Street NE., Financial Industry Regulatory
FINRA member that is a Party to a
Washington, DC 20549–1090. Authority, Inc.; Notice of Filing of a Transaction 3 in a TRACE-Eligible
Proposed Rule Change To Amend Security 4 report the transaction within
All submissions should refer to File FINRA Rule 6730 (Transaction
Number SR–ICEEU–2015–010. This file 15 minutes of the Time of Execution,5
Reporting) To Require Members To unless a different time period for the
number should be included on the Report Transactions in TRACE-Eligible
subject line if email is used. To help the security is otherwise specified in the
Securities as Soon as Practicable rule, or the transaction report will be
Commission process and review your
deemed ‘‘late.’’ Paragraph (a)(4) of Rule
comments more efficiently, please use July 10, 2015.
6730 further provides that members
only one method. The Commission will Pursuant to section 19(b)(1) of the have an ongoing obligation to report
post all comments on the Commission’s Securities Exchange Act of 1934 transaction information promptly,
Internet Web site (http://www.sec.gov/ (‘‘Act’’),1 and Rule 19b–4 thereunder,2 accurately and completely.6
rules/sro.shtml). Copies of the notice is hereby given that on July 2, FINRA is filing this proposed rule
submission, all subsequent 2015, Financial Industry Regulatory change to codify that members are
amendments, all written statements Authority, Inc. (‘‘FINRA’’) filed with the expected to report transactions in
with respect to the proposed rule Securities and Exchange Commission TRACE-Eligible Securities that are
change that are filed with the (‘‘Commission’’) the proposed rule subject to dissemination as soon as
Commission, and all written change as described in Items I, II, and practicable following the Time of
communications relating to the Execution, and must not deliberately
III below, which Items have been
proposed rule change between the delay their reporting.7 While FINRA
prepared by FINRA. The Commission is
Commission and any person, other than provides a time period for members to
publishing this notice to solicit conduct the necessary actions to report
those that may be withheld from the comments on the proposed rule change
public in accordance with the transactions, FINRA believes it is
from interested persons. important for public price transparency
provisions of 5 U.S.C. 552, will be
available for Web site viewing and I. Self-Regulatory Organization’s that members do not delay reporting
Statement of the Terms of Substance of executed transactions and has conveyed
printing in the Commission’s Public
the Proposed Rule Change this expectation to members.8 FINRA
Reference Room, 100 F Street NE.,
Washington, DC 20549, on official 3 Rule 6710(e) provides that a ‘‘Party to a
FINRA is proposing to codify that
business days between the hours of Transaction’’ is an introducing broker-dealer, if any,
members are required to report an executing broker-dealer, or a customer.
10:00 a.m. and 3:00 p.m. Copies of such
transactions in TRACE-Eligible ‘‘Customer’’ includes a broker-dealer that is not a
filings will also be available for FINRA member.
Securities subject to dissemination as
inspection and copying at the principal 4 Rule 6710(a) provides that a ‘‘TRACE-Eligible
soon as practicable.
office of ICE Clear Europe and on ICE Security’’ is a debt security that is United States
Clear Europe’s Web site at https:// The text of the proposed rule change dollar-denominated and issued by a U.S. or foreign
is available on FINRA’s Web site at private issuer, and, if a ‘‘restricted security’’ as
www.theice.com/clear-europe/ defined in Securities Act Rule 144(a)(3), sold
regulation. All comments received will http://www.finra.org, at the principal pursuant to Securities Act Rule 144A; or is a debt
be posted without change; the office of FINRA and at the security that is U.S. dollar-denominated and issued
or guaranteed by an Agency as defined in paragraph
Commission does not edit personal Commission’s Public Reference Room. (k) or a Government-Sponsored Enterprise as
identifying information from II. Self-Regulatory Organization’s defined in paragraph (n). ‘‘TRACE-Eligible
submissions. You should submit only Security’’ does not include a debt security that is:
Statement of the Purpose of, and Issued by a foreign sovereign, a U.S. Treasury
information that you wish to make Statutory Basis for, the Proposed Rule Security as defined in paragraph (p), or a Money
available publicly. All submissions Change Market Instrument as defined in paragraph (o).
5 Among other things, Rule 6710(d) provides that
should refer to File Number SR–ICEEU–
the ‘‘Time of Execution’’ for a transaction in a
2015–010 and should be submitted on In its filing with the Commission, TRACE-Eligible Security means the time when the
or before August 6, 2015. FINRA included statements concerning Parties to a Transaction agree to all of the terms of
the purpose of and basis for the the transaction that are sufficient to calculate the
For the Commission, by the Division of dollar price of the trade.
Trading and Markets, pursuant to delegated proposed rule change and discussed any 6 While a member may employ an agent for the
authority.13 comments it received on the proposed purpose of submitting transaction information, the
Jill M. Peterson, rule change. The text of these statements primary responsibility for the timely, accurate and
may be examined at the places specified complete reporting of transaction information
Assistant Secretary. remains the non-delegable duty of the member
in Item IV below. FINRA has prepared obligated to report the transaction.
[FR Doc. 2015–17399 Filed 7–15–15; 8:45 am]
summaries, set forth in sections A, B, 7 FINRA Rule 6750 (Dissemination of Transaction
BILLING CODE 8011–01–P Information) provides that FINRA will disseminate
and C below, of the most significant
tkelley on DSK3SPTVN1PROD with NOTICES
information on all transactions in TRACE-Eligible
aspects of such statements. Securities, including transactions effected pursuant
to Securities Act Rule 144A, immediately upon
receipt of the transaction report, except as specified
in the rule.
8 For example, in a Notice regarding TRACE trade
1 15 U.S.C. 78s(b)(1). reporting obligations for transactions in Asset-
13 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. Continued
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![Federal Register / Vol. 80, No. 136 / Thursday, July 16, 2015 / Notices 42151
violative of a member’s ongoing Commission, and all written certain conditions. The purpose of the
obligation to report transaction communications relating to the information required by Rule 239 is to
information to TRACE promptly. FINRA proposed rule change between the make certain information about
anticipates that this rule will not impose Commission and any person, other than security-based swaps that may be
any significant new compliance costs on those that may be withheld from the cleared by the registered or the exempt
members. public in accordance with the clearing agencies available to eligible
provisions of 5 U.S.C. 552, will be contract participants and other market
C. Self-Regulatory Organization’s
available for Web site viewing and participants. We estimate that each
Statement on Comments on the
printing in the Commission’s Public registered or exempt clearing agency
Proposed Rule Change Received From
Reference Room, 100 F Street NE., issuing security-based swaps in its
Members, Participants, or Others
Washington, DC 20549, on official function as a central counterparty will
Written comments were neither business days between the hours of
solicited nor received. spend approximately 2 hours each time
10:00 a.m. and 3:00 p.m. Copies of the
it provides or update the information in
III. Date of Effectiveness of the filing also will be available for
its agreements relating to security-based
Proposed Rule Change and Timing for inspection and copying at the principal
office of FINRA. All comments received swaps or on its Web site. We estimate
Commission Action that each registered or exempt clearing
will be posted without change; the
Within 45 days of the date of Commission does not edit personal agency will provide or update the
publication of this notice in the Federal identifying information from information approximately 20 times per
Register or within such longer period (i) submissions. You should submit only year. In addition, we estimate that 75%
as the Commission may designate up to information that you wish to make of the 2 hours per response (1.5 hours)
90 days of such date if it finds such available publicly. All submissions is prepared internally by the clearing
longer period to be appropriate and should refer to File Number SR–FINRA– agency for a total annual reporting
publishes its reasons for so finding or 2015–025 and should be submitted on burden of 180 hours (1.5 hours per
(ii) as to which the self-regulatory or before August 6, 2015. response × 20 times × 6 respondents).
organization consents, the Commission
will: For the Commission, by the Division of An agency may not conduct or
Trading and Markets, pursuant to delegated sponsor, and a person is not required to
(A) By order approve or disapprove authority.10
such proposed rule change, or respond to, a collection of information
Jill M. Peterson, unless it displays a currently valid
(B) institute proceedings to determine
whether the proposed rule change Assistant Secretary. control number.
should be disapproved. [FR Doc. 2015–17402 Filed 7–15–15; 8:45 am]
The public may view the background
BILLING CODE 8011–01–P
IV. Solicitation of Comments documentation for this information
collection at the following Web site,
Interested persons are invited to
SECURITIES AND EXCHANGE www.reginfo.gov. Comments should be
submit written data, views, and
COMMISSION directed to: (i) Desk Officer for the
arguments concerning the foregoing,
Securities and Exchange Commission,
including whether the proposed rule [OMB Control No. 3235–0687, SEC File No.
change is consistent with the Act. Office of Information and Regulatory
270–638]
Comments may be submitted by any of Affairs, Office of Management and
the following methods: Submission Collection; Comment Budget, Room 10102, New Executive
Request Office Building, Washington, DC 20503,
Electronic Comments or by sending an email to:
• Use the Commission’s Internet Upon Written Request Copies Available Shagufta_Ahmed@omb.eop.gov; and (ii)
comment form (http://www.sec.gov/ From: Securities and Exchange Pamela Dyson, Director/Chief
rules/sro.shtml); or Commission, Office of FOIA Services, Information Officer, Securities and
• Send an email to rule-comments@ 100 F Street NE., Washington, DC
Exchange Commission, c/o Remi Pavlik-
sec.gov. Please include File Number SR– 20549–2736.
Simon, 100 F Street NE., Washington,
FINRA–2015–025 on the subject line. Extension: DC 20549 or send an email to:
Rule 239.
Paper Comments PRA_Mailbox@sec.gov. Comments must
Notice is hereby given that, pursuant be submitted to OMB within 30 days of
• Send paper comments in triplicate to the Paperwork Reduction Act of 1995 this notice.
to Secretary, Securities and Exchange (44 U.S.C. 3501 et seq.), the Securities
Commission, 100 F Street NE., Dated: July 9, 2015.
and Exchange Commission
Washington, DC 20549–1090. (‘‘Commission’’) has submitted to the Brent J. Fields,
All submissions should refer to File Office of Management and Budget this Secretary.
Number SR–FINRA–2015–025. This file request for extension of the previously [FR Doc. 2015–17393 Filed 7–15–15; 8:45 am]
number should be included on the approved collection of information BILLING CODE 8011–01–P
subject line if email is used. To help the discussed below.
Commission process and review your Rule 239 (17 CFR 230.239) provides
comments more efficiently, please use exemptions under the Securities Act of
only one method. The Commission will 1933 (15 U.S.C. 77a et seq.), the
tkelley on DSK3SPTVN1PROD with NOTICES
post all comments on the Commission’s Securities Exchange Act of 1934 (15
Internet Web site (http://www.sec.gov/ U.S.C. 78a et seq.) and the Trust
rules/sro.shtml). Copies of the Indenture Act of 1939 (U.S.C. 77aaa et
submission, all subsequent seq.) for security-based swaps issued by
amendments, all written statements certain clearing agencies satisfying
with respect to the proposed rule
change that are filed with the 10 17 CFR 200.30–3(a)(12).
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Document Created: 2015-12-15 13:13:08
Document Modified: 2015-12-15 13:13:08
| Category | Regulatory Information | |
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| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 42149 |
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