81 FR 64969 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt NASD Interpretive Material 2210-2 as FINRA Rule 2211 (Communications With the Public About Variable Life Insurance and Variable Annuities) in the Consolidated FINRA Rulebook
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 183 (September 21, 2016)
Federal Register Volume 81, Issue 183 (September 21, 2016)
| Page Range | 64969-64970 | |
| FR Document | 2016-22729 |
[Federal Register Volume 81, Number 183 (Wednesday, September 21, 2016)] [Notices] [Pages 64969-64970] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-22729] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78851; File No. SR-FINRA-2016-036] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt NASD Interpretive Material 2210-2 as FINRA Rule 2211 (Communications With the Public About Variable Life Insurance and Variable Annuities) in the Consolidated FINRA Rulebook September 15, 2016. 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 August 31, 2016, 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, which Items 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 Interpretive Material 2210-2 (Communications with the Public About Variable Life Insurance and Variable Annuities) as FINRA Rule 2211 (Communications with the Public About Variable Life Insurance and Variable Annuities) in the consolidated FINRA rulebook without any substantive changes. FINRA also proposes to update 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 Interpretive Material 2210-2 (Communications with the Public About Variable Life Insurance and Variable Annuities) (``NASD IM-2210-2'') into the Consolidated FINRA Rulebook as FINRA Rule 2211 (Communications with the Public About Variable Life Insurance and Variable Annuities) without any substantive changes. --------------------------------------------------------------------------- \4\ The current FINRA rulebook consists of: (1) FINRA Rules; (2) NASD Rules; and (3) rules incorporated from New York Stock Exchange LLC (``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). --------------------------------------------------------------------------- As with NASD IM-2210-2, proposed FINRA Rule 2211 provides a set of guidelines (``Guidelines'') that must be considered--in addition to the standards governing communications with the public under FINRA Rule 2210 (Communications with the Public)--in preparing communications about variable life insurance and variable annuities. NASD IM-2210-2 states that the Guidelines are applicable to ``advertisements'' and ``sales literature'' as defined in NASD Rule 2210, as well as ``individualized communications such as personalized letters and computer generated illustrations, whether printed or made available on-screen.'' The proposed rule change makes technical changes to NASD IM-2210-2 by replacing references to ``advertisements,'' ``sales literature,'' and ``individualized communications'' with the current corresponding terms defined in FINRA Rule 2210. In adopting FINRA Rule 2210, FINRA updated the definitions under NASD Rule 2210 by adopting the defined terms ``retail communication,'' for written communications that are distributed or made available to more than 25 retail investors within any 30 calendar-day period, and ``correspondence'' for written communications that are distributed or made available to 25 or fewer retail investors within any 30 calendar- day period.'' \5\ Accordingly, the proposed rule change would replace references in NASD IM-2210-2, where applicable, to the terms (1) ``advertisements'' and ``sales literature'' with the term ``retail communications,'' \6\ (2) ``individualized communications'' with the term ``correspondence,'' and (3) ``communications'' with the term ``retail communications and correspondence,'' as such terms are defined in FINRA Rule 2210. The proposed rule change also would amend paragraph (b)(5) of NASD IM-2210-2 by replacing the heading ``sales literature and personalized illustrations'' with ``retail communications and correspondence,'' and by replacing the term ``sales literature'' in paragraph (b)(5)(B) with the term ``retail communications and correspondence,'' to reflect the current intent and scope of this provision to include communications containing personalized illustrations that are sent to retail investors irrespective of whether a member distributes or makes them available to more than 25 retail investors within any 30 calendar-day period (qualifying the communication as a ``retail communication'') or 25 or [[Page 64970]] fewer retail investors within any 30 calendar-day period (qualifying the communication as ``correspondence''). --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 66681 (March 29, 2012), 77 FR 20452 (April 4, 2012) (Order Approving File No. SR- FINRA-2011-035). In addition, to the extent that a member distributed or made available a communication that qualified as an independently prepared reprint to more than 25 retail investors within a 30 calendar-day period, the communication also would fall under the definition of ``retail communication.'' \6\ See Securities Exchange Act Release No. 64984 (July 28, 2011), 76 FR 46870 (August 3, 2011) (Notice of Filing File No. SR- FINRA-2011-035) (stating that communications that qualified as advertisements and sales literature generally would fall within the term ``retail communication''). --------------------------------------------------------------------------- In addition, proposed FINRA Rule 2211 closely tracks the language of IM-2210-2 and makes only non-substantive, technical changes to the text of the NASD rule by, for instance, replacing the reference to a legacy NASD rule with the applicable FINRA rule.\7\ --------------------------------------------------------------------------- \7\ FINRA previously solicited comment on a proposal to move IM- 2210-2 to the Consolidated FINRA Rulebook with substantive changes. See Regulatory Notice 08-39 (July 2008); see also Securities Exchange Act Release No. 61107 (December 3, 2009), 74 FR 65180 (December 9, 2009) (Notice of Filing File No. SR-FINRA-2009-070) (withdrawn on April 27, 2012). 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 to move IM-2210-2 to the Consolidated FINRA Rulebook without substantive changes at this time, but FINRA may consider proposing substantive changes to the rule as part of future rulemaking. --------------------------------------------------------------------------- These proposed rule changes would correct references in IM-2210-2 for purposes of adopting it as a FINRA rule without changing the substantive meaning. The proposed rule change also would replace all references to IM- 2210-2 in FINRA Rules 0150 (Application of Rules to Exempted Securities Except Municipal Securities) and 9217 (Violations Appropriate for Disposition Under Plan Pursuant to SEA Rule 19d-1(c)(2)) with references to FINRA Rule 2211, accordingly. FINRA has filed the proposed rule change for immediate effectiveness. The implementation date will be 30 days after the date of filing. 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 rule, 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, the proposed rule change will not substantively change either the text or application of the rule. 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 the proposed rule change to transfer IM-2210-2 into the Consolidated FINRA Rulebook without any substantive changes.\9\ --------------------------------------------------------------------------- \9\ But see supra note 7. --------------------------------------------------------------------------- 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). --------------------------------------------------------------------------- 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-2016-036 on the subject line. Paper Comments Send paper comments in triplicate to Robert W. Errett, Deputy Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-FINRA-2016-036. 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 a.m. and 3 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-2016-036 and should be submitted on or before October 12, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-22729 Filed 9-20-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 183 / Wednesday, September 21, 2016 / Notices 64969
IV. Conclusion rulebook without any substantive ‘‘advertisements’’ and ‘‘sales literature’’
It is therefore ordered, pursuant to changes. FINRA also proposes to update as defined in NASD Rule 2210, as well
Section 19b(2) of the Act,43 that the cross-references within other FINRA as ‘‘individualized communications
proposed rule change (SR–NYSE–2016– rules accordingly. such as personalized letters and
31) be, and hereby is, approved. The text of the proposed rule change computer generated illustrations,
is available on FINRA’s Web site at whether printed or made available on-
For the Commission, by the Division of http://www.finra.org, at the principal screen.’’ The proposed rule change
Trading and Markets, pursuant to delegated
office of FINRA and at the makes technical changes to NASD IM–
authority.44
Commission’s Public Reference Room. 2210–2 by replacing references to
Brent J. Fields,
II. Self-Regulatory Organization’s ‘‘advertisements,’’ ‘‘sales literature,’’
Secretary.
Statement of the Purpose of, and and ‘‘individualized communications’’
[FR Doc. 2016–22730 Filed 9–20–16; 8:45 am]
Statutory Basis for, the Proposed Rule with the current corresponding terms
BILLING CODE 8011–01–P
Change defined in FINRA Rule 2210. In
adopting FINRA Rule 2210, FINRA
In its filing with the Commission, updated the definitions under NASD
SECURITIES AND EXCHANGE FINRA included statements concerning Rule 2210 by adopting the defined terms
COMMISSION the purpose of and basis for the ‘‘retail communication,’’ for written
[Release No. 34–78851; File No. SR–FINRA– proposed rule change and discussed any communications that are distributed or
2016–036] comments it received on the proposed made available to more than 25 retail
rule change. The text of these statements investors within any 30 calendar-day
Self-Regulatory Organizations; may be examined at the places specified period, and ‘‘correspondence’’ for
Financial Industry Regulatory in Item IV below. FINRA has prepared written communications that are
Authority, Inc.; Notice of Filing and summaries, set forth in sections A, B,
distributed or made available to 25 or
Immediate Effectiveness of a Proposed and C below, of the most significant
fewer retail investors within any 30
Rule Change To Adopt NASD aspects of such statements.
calendar-day period.’’ 5 Accordingly, the
Interpretive Material 2210–2 as FINRA
A. Self-Regulatory Organization’s proposed rule change would replace
Rule 2211 (Communications With the
Statement of the Purpose of, and references in NASD IM–2210–2, where
Public About Variable Life Insurance
Statutory Basis for, the Proposed Rule applicable, to the terms (1)
and Variable Annuities) in the
Change ‘‘advertisements’’ and ‘‘sales literature’’
Consolidated FINRA Rulebook
1. Purpose with the term ‘‘retail
September 15, 2016. communications,’’ 6 (2) ‘‘individualized
Pursuant to Section 19(b)(1) of the As part of the process of developing communications’’ with the term
Securities Exchange Act of 1934 a new consolidated rulebook ‘‘correspondence,’’ and (3)
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 (‘‘Consolidated FINRA Rulebook’’),4 ‘‘communications’’ with the term ‘‘retail
notice is hereby given that on August FINRA is proposing to transfer NASD communications and correspondence,’’
31, 2016, Financial Industry Regulatory Interpretive Material 2210–2 as such terms are defined in FINRA
Authority, Inc. (‘‘FINRA’’) filed with the (Communications with the Public About Rule 2210. The proposed rule change
Securities and Exchange Commission Variable Life Insurance and Variable also would amend paragraph (b)(5) of
(‘‘SEC’’ or ‘‘Commission’’) the proposed Annuities) (‘‘NASD IM–2210–2’’) into NASD IM–2210–2 by replacing the
rule change as described in Items I, II, the Consolidated FINRA Rulebook as heading ‘‘sales literature and
and III below, which Items have been FINRA Rule 2211 (Communications personalized illustrations’’ with ‘‘retail
prepared by FINRA. FINRA has with the Public About Variable Life communications and correspondence,’’
designated the proposed rule change as Insurance and Variable Annuities) and by replacing the term ‘‘sales
constituting a ‘‘non-controversial’’ rule without any substantive changes. literature’’ in paragraph (b)(5)(B) with
change under paragraph (f)(6) of Rule As with NASD IM–2210–2, proposed the term ‘‘retail communications and
19b–4 under the Act,3 which renders FINRA Rule 2211 provides a set of correspondence,’’ to reflect the current
the proposal effective upon receipt of guidelines (‘‘Guidelines’’) that must be intent and scope of this provision to
this filing by the Commission. The considered—in addition to the
include communications containing
Commission is publishing this notice to standards governing communications
personalized illustrations that are sent
solicit comments on the proposed rule with the public under FINRA Rule 2210
to retail investors irrespective of
change from interested persons. (Communications with the Public)—in
whether a member distributes or makes
preparing communications about
I. Self-Regulatory Organization’s them available to more than 25 retail
variable life insurance and variable
Statement of the Terms of Substance of investors within any 30 calendar-day
annuities.
the Proposed Rule Change NASD IM–2210–2 states that the period (qualifying the communication
Guidelines are applicable to as a ‘‘retail communication’’) or 25 or
FINRA is proposing to adopt NASD
Interpretive Material 2210–2 4 The current FINRA rulebook consists of: (1)
5 See Securities Exchange Act Release No. 66681
(Communications with the Public About FINRA Rules; (2) NASD Rules; and (3) rules
(March 29, 2012), 77 FR 20452 (April 4, 2012)
Variable Life Insurance and Variable incorporated from New York Stock Exchange LLC (Order Approving File No. SR–FINRA–2011–035).
In addition, to the extent that a member distributed
Annuities) as FINRA Rule 2211 (‘‘NYSE’’) (‘‘Incorporated NYSE Rules’’) (together,
or made available a communication that qualified
(Communications with the Public About the NASD Rules and Incorporated NYSE Rules are
as an independently prepared reprint to more than
mstockstill on DSK3G9T082PROD with NOTICES
referred to as the ‘‘Transitional Rulebook’’). While
Variable Life Insurance and Variable the NASD Rules generally apply to all FINRA 25 retail investors within a 30 calendar-day period,
Annuities) in the consolidated FINRA members, the Incorporated NYSE Rules apply only the communication also would fall under the
to those members of FINRA that are also members definition of ‘‘retail communication.’’
6 See Securities Exchange Act Release No. 64984
43 15 U.S.C. 78s(b)(2). of the NYSE (‘‘Dual Members’’). The FINRA Rules
44 17
apply to all FINRA members, unless such rules (July 28, 2011), 76 FR 46870 (August 3, 2011)
CFR 200.30–3(a)(12). (Notice of Filing File No. SR–FINRA–2011–035)
have a more limited application by their terms. For
1 15 U.S.C. 78s(b)(1).
more information about the rulebook consolidation (stating that communications that qualified as
2 17 CFR 240.19b–4.
process, see Information Notice, March 12, 2008 advertisements and sales literature generally would
3 17 CFR 240.19b–4(f)(6). (Rulebook Consolidation Process). fall within the term ‘‘retail communication’’).
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![64970 Federal Register / Vol. 81, No. 183 / Wednesday, September 21, 2016 / Notices
fewer retail investors within any 30 B. Self-Regulatory Organization’s Electronic Comments
calendar-day period (qualifying the Statement on Burden on Competition
communication as ‘‘correspondence’’). • Use the Commission’s Internet
FINRA does not believe that the comment form (http://www.sec.gov/
In addition, proposed FINRA Rule proposed rule change will result in any rules/sro.shtml); or
2211 closely tracks the language of IM– burden on competition that is not
2210–2 and makes only non- • Send an email to rule-
necessary or appropriate in furtherance
substantive, technical changes to the comments@sec.gov. Please include File
of the purposes of the Act. As noted
text of the NASD rule by, for instance, above, the proposed rule change will Number SR–FINRA–2016–036 on the
replacing the reference to a legacy not substantively change either the text subject line.
NASD rule with the applicable FINRA or application of the rule. FINRA would Paper Comments
rule.7 like to proceed with the rulebook
These proposed rule changes would consolidation process expeditiously, • Send paper comments in triplicate
correct references in IM–2210–2 for which it believes will provide to Robert W. Errett, Deputy Secretary,
purposes of adopting it as a FINRA rule additional clarity and regulatory Securities and Exchange Commission,
without changing the substantive efficiency to members. 100 F Street NE., Washington, DC
meaning. C. Self-Regulatory Organization’s 20549–1090.
The proposed rule change also would Statement on Comments on the All submissions should refer to File
replace all references to IM–2210–2 in Proposed Rule Change Received From Number SR–FINRA–2016–036. This file
FINRA Rules 0150 (Application of Rules Members, Participants, or Others number should be included on the
to Exempted Securities Except subject line if email is used. To help the
Written comments were neither
Municipal Securities) and 9217 Commission process and review your
solicited nor received with respect to
(Violations Appropriate for Disposition comments more efficiently, please use
the proposed rule change to transfer IM–
Under Plan Pursuant to SEA Rule 19d– 2210–2 into the Consolidated FINRA only one method. The Commission will
1(c)(2)) with references to FINRA Rule Rulebook without any substantive post all comments on the Commission’s
2211, accordingly. changes.9 Internet Web site (http://www.sec.gov/
FINRA has filed the proposed rule rules/sro.shtml). Copies of the
change for immediate effectiveness. The III. Date of Effectiveness of the submission, all subsequent
implementation date will be 30 days Proposed Rule Change and Timing for amendments, all written statements
after the date of filing. Commission Action with respect to the proposed rule
Because the foregoing proposed rule change that are filed with the
2. Statutory Basis
change does not: (i) Significantly affect Commission, and all written
FINRA believes that the proposed rule the protection of investors or the public communications relating to the
change is consistent with the provisions interest; (ii) impose any significant proposed rule change between the
of Section 15A(b)(6) of the Act,8 which burden on competition; and (iii) become Commission and any person, other than
requires, among other things, that operative for 30 days from the date on those that may be withheld from the
FINRA rules must be designed to which it was filed, or such shorter time public in accordance with the
prevent fraudulent and manipulative as the Commission may designate, it has provisions of 5 U.S.C. 552, will be
acts and practices, to promote just and become effective pursuant to Section available for Web site viewing and
equitable principles of trade, and, in 19(b)(3)(A) of the Act 10 and Rule 19b– printing in the Commission’s Public
general, to protect investors and the 4(f)(6) thereunder.11 Reference Room, 100 F Street NE.,
public interest. FINRA believes that the At any time within 60 days of the Washington, DC 20549, on official
proposed rule change, which does not filing of the proposed rule change, the business days between the hours of 10
substantively change the rule, is Commission summarily may a.m. and 3 p.m. Copies of such filing
consistent with the Act because it is temporarily suspend such rule change if also will be available for inspection and
being undertaken pursuant to the it appears to the Commission that such copying at the principal office of
rulebook consolidation process, which action is necessary or appropriate in the FINRA. All comments received will be
is designed to provide additional clarity public interest, for the protection of posted without change; the Commission
and regulatory efficiency to FINRA investors, or otherwise in furtherance of does not edit personal identifying
members by consolidating the the purposes of the Act. If the information from submissions. You
applicable NASD, Incorporated NYSE, Commission takes such action, the should submit only information that
and FINRA rules into one rule set. Commission shall institute proceedings you wish to make available publicly. All
to determine whether the proposed rule
submissions should refer to File
7 FINRA previously solicited comment on a should be approved or disapproved.
proposal to move IM–2210–2 to the Consolidated
Number SR–FINRA–2016–036 and
FINRA Rulebook with substantive changes. See IV. Solicitation of Comments should be submitted on or before
Regulatory Notice 08–39 (July 2008); see also October 12, 2016.
Securities Exchange Act Release No. 61107 Interested persons are invited to
(December 3, 2009), 74 FR 65180 (December 9, submit written data, views and For the Commission, by the Division of
2009) (Notice of Filing File No. SR–FINRA–2009– arguments concerning the foregoing, Trading and Markets, pursuant to delegated
070) (withdrawn on April 27, 2012). Given that authority.12
mstockstill on DSK3G9T082PROD with NOTICES
FINRA would like to proceed with the rulebook
including whether the proposed rule
consolidation process expeditiously to provide change is consistent with the Act. Brent J. Fields,
greater clarity and regulatory efficiency to FINRA Comments may be submitted by any of Secretary.
members, FINRA is proposing to move IM–2210–2 the following methods: [FR Doc. 2016–22729 Filed 9–20–16; 8:45 am]
to the Consolidated FINRA Rulebook without
substantive changes at this time, but FINRA may BILLING CODE 8011–01–P
9 But see supra note 7.
consider proposing substantive changes to the rule
as part of future rulemaking. 10 15 U.S.C. 78s(b)(3)(A).
8 15 U.S.C. 78o–3(b)(6). 11 17 CFR 240.19b–4(f)(6). 12 17 CFR 200.30–3(a)(12).
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Document Created: 2016-09-21 01:31:40
Document Modified: 2016-09-21 01:31:40
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| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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