83 FR 30203 - Self-Regulatory Organizations; National Futures Association; Notice of Filing and Immediate Effectiveness of Proposed Change to the Interpretive Notice to NFA Compliance Rule 2-9: Enhanced Supervisory Requirements: Requiring NFA Members To Maintain a Record of All Electronic Written Communications
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 124 (June 27, 2018)
Federal Register Volume 83, Issue 124 (June 27, 2018)
| Page Range | 30203-30205 | |
| FR Document | 2018-13763 |
[Federal Register Volume 83, Number 124 (Wednesday, June 27, 2018)] [Notices] [Pages 30203-30205] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-13763] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83490; File No. SR-NFA-2018-02] Self-Regulatory Organizations; National Futures Association; Notice of Filing and Immediate Effectiveness of Proposed Change to the Interpretive Notice to NFA Compliance Rule 2-9: Enhanced Supervisory Requirements: Requiring NFA Members To Maintain a Record of All Electronic Written Communications June 21, 2018. Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 (``Exchange Act''),\1\ and Rule 19b-7 under the Exchange Act,\2\ notice is hereby given that on June 12, 2018, National Futures Association (``NFA'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change described in Items I, II, and III below, which Items have been prepared by NFA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(7). \2\ 17 CFR 240.19b-7. --------------------------------------------------------------------------- On November 27, 2017, NFA filed this proposed rule change with the Commodity Futures Trading Commission (``CFTC'') and requested that the CFTC make a determination that review of the proposed rule change of NFA is not necessary. By letter dated December 11, 2017, the CFTC notified NFA of its determination not to review the proposed rule change.\3\ --------------------------------------------------------------------------- \3\ See letter from Matthew Kulkin, Director CFTC, to Carol A. Wooding, General Counsel, NFA (``Letter''). --------------------------------------------------------------------------- The text of the proposed rule change is available at the self- regulatory organization's office, on the NFA's website at www.nfa.futures.org, and at the SEC's Public Reference Room. I. Self-Regulatory Organization's Description and Text of the Proposed Rule Change NFA's Interpretive Notice to NFA Compliance Rule 2-9 entitled ``NFA Compliance Rule 2-9: Enhanced Supervisory Requirements'' (``Interpretive Notice'') requires NFA Member (``Member'') firms that meet certain criteria identified by NFA's Board of Directors (``Board'') to comply with specific enhanced supervisory requirements (``Requirements'') that are designed to prevent abusive sales practices. NFA's Board is amending the Interpretive Notice to require all Members subject to the Requirements to maintain a record of all electronic written communications between associated persons (``APs'') and customers or potential customers, including but not limited to, email, text messages, instant messages, and any other communication that occurs in a chat room or on any social media platform. The proposed rule change also requires all Member firms subject to the Requirements of the Interpretive Notice to prepare a catalog of electronic written communications and for APs to maintain a log of those written electronic communications. The text of the proposed rule change to the Interpretive Notice is found in Exhibit 4. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for the Proposed Rule Change In its filing with the Commission, NFA 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. NFA 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 Section 15A(k) of the Exchange Act \4\ makes NFA a national securities association for the limited purpose of regulating the activities of NFA Members who are registered as brokers or dealers in security futures products under Section 15(b)(11) of the Exchange Act.\5\ NFA's Interpretive Notice applies to all NFA Members who meet the criteria in the Interpretive Notice, including those that are registered as security futures brokers or dealers under Section 15(b)(11) of the Exchange Act. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78o-3(k). \5\ 15 U.S.C. 78o(b)(11). --------------------------------------------------------------------------- NFA's Interpretive Notice to Compliance Rule 2-9(b) authorizes NFA's Board to require Members to adopt certain enhanced supervisory requirements based upon the regulatory background of either its APs or principals. The Interpretive Notice is designed to, among other things, minimize the likelihood of a Member engaging in deceptive sales practices. One of the more important Requirements with respect to minimizing sales practice problems is the requirement that firms make audio [[Page 30204]] recordings of all telephone conversations between APs and customers. At the time this Interpretive Notice was adopted, telephone communications were the most common method that APs used to solicit customers. However, since that time, other electronic written communications, such as text or instant messages, have become one of the primary methods of communication between APs and customers. NFA's Interpretive Notice, however, does not specifically require a Member firm subject to the Requirements to maintain a record of electronic written communications, prepare a catalog of electronic written communications, or require its APs to maintain a log of those communications. NFA relies on the catalog of communications and the AP sales solicitation logs when examining a Member for compliance with the Requirements. Given the popularity of electronic written communications, NFA's Board is amending the Interpretive Notice to explicitly state that all Members subject to the Requirements are required to maintain a record of all electronic written communications, including but not limited to, emails, text messages, instant messages, and any other communication that occurs in a chat room or on any social media platform. NFA's Board is also amending the Interpretive Notice to require Member firms subject to the Requirements to prepare a catalog of electronic written communications and require APs to maintain a log of those written electronic communications. This modification to the Interpretive Notice merely parallels the current cataloging and AP log requirement for telephone sales solicitations and ensures that, for firms subject to the Requirements, all sales solicitations--regardless of the method by which they occur--are maintained, cataloged, and logged by the firm's APs. Amendments to the Interpretive Notice were previously filed with the SEC in SR-NFA-2002-07, Exchange Act Release No. 34-47147 (Jan. 9, 2003), 68 FR 2383 (Jan. 16, 2003); SR-NFA-2003-01, Exchange Act Release No. 34-47533 (Mar. 19, 2003), 68 FR 14733 (March 26, 2003); SR-NFA- 2005-01, Exchange Act Release No. 34-52808 (Nov. 18, 2005), 70 FR 71347 (Nov. 28, 2005); SR-NFA-2006-01 Exchange Act Release No. 34-53568 (Mar. 29, 2006), 71 FR 16850 (Apr. 4, 2006); SR-NFA-2007-03, Exchange Act Release No. 34-55710 (May 4, 2007), 72 FR 26858 (May 11, 2007); SR-NFA- 2007-07, Exchange Act Release No. 34-57142 (Jan. 14, 2008), 73 FR 3502 (Jan. 18, 2008); SR-NFA-2008-02, Exchange Act Release No. 34-58709 (Oct. 1, 2008), 73 FR 59011 (Oct. 8, 2008); SR-NFA-2010-04, Exchange Act Release No. 34-63602 (Dec. 22, 2010), 76 FR 202 (Jan. 3, 2011); and SR-NFA-2014-05, Exchange Act Release No. 34-72514 (July 2, 2014), 79 FR 39046 (July 9, 2014). 2. Statutory Basis The proposed rule change is authorized by, and consistent with, Section 15A(k)(2)(B) of the Exchange Act.\6\ That Section requires NFA to have rules that are 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, including rules governing sales practices and advertising of security futures products. The proposed rule change accomplishes this by imposing enhanced supervisory requirements on Member firms that meet certain criteria that NFA's Board has determined indicates a greater potential for sales practice fraud to occur. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78o-3(k). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition At first glance, the proposed rule change appears to impose additional burdens on NFA Members subject to the Requirements. In practice, however, CFTC Regulation 1.35 \7\ requires Futures Commission Merchants (``FCMs''), Retail Foreign Exchange Dealers (``RFEDs''), and Introducing Brokers (``IBs''), as well as Commodity Pool Operators (``CPOs'') and Commodity Trading Advisors (``CTAs'') that are members of a designated contract market (``DCM'') or swaps execution facility (``SEF'') to maintain a record of electronic written communications. Therefore, the proposed rule imposes no new or additional requirements on FCMs, RFEDs and IBs as well as CTAs and CPOs that are Members of a SEF or DCM. --------------------------------------------------------------------------- \7\ 17 CFR 1.35. --------------------------------------------------------------------------- However, CFTC Regulation 1.35 does not apply to CPOs and CTAs that are not a member of a DCM or SEF. NFA and NFA's Member Committees realize that this proposed rule would impose an additional recordkeeping requirement and additional costs to CPOs and CTAs that are not a member of a DCM or a SEF. However, NFA and NFA's Member Committees believe that this consideration is outweighed by the fact that, in NFA's experience, firms that qualify to adopt the Requirements are more likely to engage in deceptive sales solicitations and requiring these firms to maintain records of electronic written communications may reduce the likelihood of deceptive sales practices. Therefore, this burden is necessary and appropriate to help minimize deceptive sales solicitations. Additionally, the other portion of the proposed rule change--the cataloging and AP log requirement for electronic written communication--poses minimal burden on impacted firms because it merely parallels the current cataloging and AP log requirement for telephone sales solicitations. This minimal burden is necessary and appropriate to minimize the likelihood of abusive sales practices. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others NFA worked with Member Committees in developing the proposed rule change. NFA did not, however, publish the proposed rule change to the membership for comment. NFA did not receive comment letters concerning the rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action On December 11, 2017, the CFTC notified NFA of its determination not to review the proposed rule change.\8\ The proposed rule change became effective on January 31, 2018. --------------------------------------------------------------------------- \8\ See Letter, Supra note 3. --------------------------------------------------------------------------- At any time within 60 days of the date of effectiveness of the proposed rule change, the Commission, after consultation with the CFTC, may summarily abrogate the proposed rule change and require that the proposed rule change be refiled in accordance with the provisions of Section 19(b)(1) of the Exchange Act.\9\ --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(1). --------------------------------------------------------------------------- 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 Exchange 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-NFA-2018-02 on the subject line. [[Page 30205]] 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-NFA-2018-02. 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 website (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 website 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 NFA. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make publicly available. All submissions should refer to File Number SR-NFA-2018-02 and should be submitted on or before July 18, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\10\ --------------------------------------------------------------------------- \10\ 17 CFR 200.30-3(a)(73). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-13763 Filed 6-26-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 124 / Wednesday, June 27, 2018 / Notices 30203
Service request, the request’s acceptance SECURITIES AND EXCHANGE maintain a record of all electronic
date, and the authority cited by the COMMISSION written communications between
Postal Service for each request. For each associated persons (‘‘APs’’) and
[Release No. 34–83490; File No. SR–NFA–
request, the Commission appoints an customers or potential customers,
2018–02]
officer of the Commission to represent including but not limited to, email, text
the interests of the general public in the Self-Regulatory Organizations; messages, instant messages, and any
proceeding, pursuant to 39 U.S.C. 505 National Futures Association; Notice other communication that occurs in a
(Public Representative). Section II also of Filing and Immediate Effectiveness chat room or on any social media
establishes comment deadline(s) of Proposed Change to the Interpretive platform. The proposed rule change also
pertaining to each request. Notice to NFA Compliance Rule 2–9: requires all Member firms subject to the
Enhanced Supervisory Requirements: Requirements of the Interpretive Notice
The public portions of the Postal to prepare a catalog of electronic written
Service’s request(s) can be accessed via Requiring NFA Members To Maintain a
Record of All Electronic Written communications and for APs to
the Commission’s website (http:// maintain a log of those written
www.prc.gov). Non-public portions of Communications
electronic communications. The text of
the Postal Service’s request(s), if any, June 21, 2018. the proposed rule change to the
can be accessed through compliance Pursuant to Section 19(b)(7) of the Interpretive Notice is found in Exhibit 4.
with the requirements of 39 CFR Securities Exchange Act of 1934 II. Self-Regulatory Organization’s
3007.40. (‘‘Exchange Act’’),1 and Rule 19b–7 Statement of the Purpose of, and
The Commission invites comments on under the Exchange Act,2 notice is Statutory Basis for the Proposed Rule
whether the Postal Service’s request(s) hereby given that on June 12, 2018, Change
in the captioned docket(s) are consistent National Futures Association (‘‘NFA’’)
filed with the Securities and Exchange In its filing with the Commission,
with the policies of title 39. For NFA included statements concerning
request(s) that the Postal Service states Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change described in the purpose of and basis for the
concern market dominant product(s), proposed rule change and discussed any
applicable statutory and regulatory Items I, II, and III below, which Items
have been prepared by NFA. The comments it received on the proposed
requirements include 39 U.S.C. 3622, 39 rule change. The text of these statements
U.S.C. 3642, 39 CFR part 3010, and 39 Commission is publishing this notice to
solicit comments on the proposed rule may be examined at the places specified
CFR part 3020, subpart B. For request(s) in Item IV below. NFA has prepared
change from interested persons.
that the Postal Service states concern summaries, set forth in sections A, B,
On November 27, 2017, NFA filed this
competitive product(s), applicable and C below, of the most significant
proposed rule change with the
statutory and regulatory requirements aspects of such statements.
Commodity Futures Trading
include 39 U.S.C. 3632, 39 U.S.C. 3633, Commission (‘‘CFTC’’) and requested A. Self-Regulatory Organization’s
39 U.S.C. 3642, 39 CFR part 3015, and that the CFTC make a determination Statement of the Purpose of, and
39 CFR part 3020, subpart B. Comment that review of the proposed rule change Statutory Basis for the Proposed Rule
deadline(s) for each request appear in of NFA is not necessary. By letter dated Change
section II. December 11, 2017, the CFTC notified
1. Purpose
II. Docketed Proceeding(s) NFA of its determination not to review
the proposed rule change.3 Section 15A(k) of the Exchange Act 4
1. Docket No(s).: MC2018–184 and The text of the proposed rule change makes NFA a national securities
CP2018–258; Filing Title: USPS Request is available at the self-regulatory association for the limited purpose of
to Add Priority Mail Contract 451 to organization’s office, on the NFA’s regulating the activities of NFA
Competitive Product List and Notice of website at www.nfa.futures.org, and at Members who are registered as brokers
Filing Materials Under Seal; Filing the SEC’s Public Reference Room. or dealers in security futures products
Acceptance Date: June 21, 2018; Filing under Section 15(b)(11) of the Exchange
I. Self-Regulatory Organization’s Act.5 NFA’s Interpretive Notice applies
Authority: 39 U.S.C. 3642 and 39 CFR Description and Text of the Proposed to all NFA Members who meet the
3020.30 et seq.; Public Representative: Rule Change criteria in the Interpretive Notice,
Lawrence Fenster; Comments Due: June
NFA’s Interpretive Notice to NFA including those that are registered as
29, 2018. security futures brokers or dealers under
Compliance Rule 2–9 entitled ‘‘NFA
2. Docket No(s).: MC2018–185 and Compliance Rule 2–9: Enhanced Section 15(b)(11) of the Exchange Act.
CP2018–259; Filing Title: USPS Request Supervisory Requirements’’ NFA’s Interpretive Notice to
to Add Priority Mail Contract 452 to (‘‘Interpretive Notice’’) requires NFA Compliance Rule 2–9(b) authorizes
Competitive Product List and Notice of Member (‘‘Member’’) firms that meet NFA’s Board to require Members to
Filing Materials Under Seal; Filing certain criteria identified by NFA’s adopt certain enhanced supervisory
Acceptance Date: June 21, 2018; Filing Board of Directors (‘‘Board’’) to comply requirements based upon the regulatory
Authority: 39 U.S.C. 3642 and 39 CFR with specific enhanced supervisory background of either its APs or
3020.30 et seq.; Public Representative: requirements (‘‘Requirements’’) that are principals. The Interpretive Notice is
Lawrence Fenster; Comments Due: June designed to prevent abusive sales designed to, among other things,
29, 2018. practices. NFA’s Board is amending the minimize the likelihood of a Member
engaging in deceptive sales practices.
daltland on DSKBBV9HB2PROD with NOTICES
This notice will be published in the Interpretive Notice to require all
Members subject to the Requirements to One of the more important
Federal Register. Requirements with respect to
Stacy L. Ruble, 1 15 U.S.C. 78s(b)(7).
minimizing sales practice problems is
2 17 CFR 240.19b–7. the requirement that firms make audio
Secretary.
3 See letter from Matthew Kulkin, Director CFTC,
[FR Doc. 2018–13819 Filed 6–26–18; 8:45 am] 4 15 U.S.C. 78o–3(k).
to Carol A. Wooding, General Counsel, NFA
BILLING CODE 7710–FW–P (‘‘Letter’’). 5 15 U.S.C. 78o(b)(11).
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![Federal Register / Vol. 83, No. 124 / Wednesday, June 27, 2018 / Notices 30205
Paper Comments SECURITIES AND EXCHANGE administration of the Nasdaq/UTP Plan
COMMISSION and as a ‘‘Ministerial Amendment’’
• Send paper comments in triplicate under Section XVI of the Plan. As a
to Secretary, Securities and Exchange [Release No. 34–83493; File No. S7–24–89]
result, the Amendment was effective
Commission, 100 F Street NE, upon filing and was submitted by the
Joint Industry Plan; Notice of Filing
Washington, DC 20549–1090. Chairman of the Plan’s Operating
and Immediate Effectiveness of the
All submissions should refer to File Forty-Third Amendment to the Joint Committee. The Commission is
Number SR–NFA–2018–02. This file Self-Regulatory Organization Plan publishing this notice to solicit
number should be included on the Governing the Collection, comments from interested persons on
Consolidation and Dissemination of the proposed Amendment. Set forth in
subject line if email is used. To help the
Quotation and Transaction Information Sections I and II is the statement of the
Commission process and review your
for Nasdaq-Listed Securities Traded on purpose and summary of the
comments more efficiently, please use Amendment, along with the information
only one method. The Commission will Exchanges on an Unlisted Trading
Privileges Basis required by Rules 608(a) and 601(a)
post all comments on the Commission’s under the Act, prepared and submitted
internet website (http://www.sec.gov/ June 21, 2018. by the Participants to the Commission.
rules/sro.shtml). Copies of the Pursuant to Section 11A of the
submission, all subsequent I. Rule 608(a)
Securities Exchange Act of 1934
amendments, all written statements (‘‘Act’’),1 and Rule 608 thereunder,2 A. Purpose of the Amendments
with respect to the proposed rule notice is hereby given that on June 5, The Amendment effectuates changes
change that are filed with the 2018, the Participants 3 in the Joint Self- that certain Participants have made to
Commission, and all written Regulatory Organization Plan Governing their names and addresses, as set forth
communications relating to the the Collection, Consolidation and in Section I(A) of the UTP Plan and
proposed rule change between the Dissemination of Quotation and updates the listing of Participant
Commission and any person, other than Transaction Information for Nasdaq- identifying codes set forth in Section
those that may be withheld from the Listed Securities Traded on Exchanges VIII(C) of the UTP Plan.
public in accordance with the on an Unlisted Trading Privileges Basis
provisions of 5 U.S.C. 552, will be (‘‘NASDAQ/UTP Plan,’’ ‘‘UTP Plan’’ or B. Governing or Constituent Documents
available for website viewing and ‘‘Plan’’) filed with the Securities and Not applicable.
printing in the Commission’s Public Exchange Commission (‘‘Commission’’)
a proposal to amend the NASDAQ/UTP C. Implementation of the Amendments
Reference Room, 100 F Street NE,
Washington, DC 20549, on official Plan.4 The amendment represents Because the Amendment constitutes a
business days between the hours of Amendment No. 43 to the NASDAQ/ ‘‘Ministerial Amendment’’ under
UTP Plan (‘‘Amendment’’). The Section XVI of the UTP Plan, the
10:00 a.m. and 3:00 p.m. Copies of such
Amendment seeks to effectuate changes Chairman of the UTP Plan’s Operating
filing also will be available for
that certain Participants have made to Committee may submit the Amendment
inspection and copying at the principal to the Commission on behalf of the
their names and addresses, as set forth
office of NFA. All comments received Participants in the UTP Plan. Because
in Section I(A) of the Nasdaq/UTP Plan
will be posted without change. Persons the Participants have designated the
and to update the listing of Participant
submitting comments are cautioned that identifying codes set forth in Section Amendment as concerned solely with
we do not redact or edit personal VIII(C) of the Plan. the administration of the Plan, the
identifying information from comment Pursuant to Rule 608(b)(3)(ii) under Amendment is effective upon filing
submissions. You should submit only Regulation NMS,5 the Participants have with the Commission.
information that you wish to make designated the Amendment as
publicly available. All submissions D. Development and Implementation
concerned solely with the Phases
should refer to File Number SR–NFA–
2018–02 and should be submitted on or 1 15 U.S.C. 78k–1. Not applicable.
before July 18, 2018. 2 17 CFR 242.608.
E. Analysis of Impact on Competition
3 The Participants are: Cboe BYX Exchange, Inc.;
For the Commission, by the Division of Cboe BZX Exchange, Inc.; Cboe EDGA Exchange, The Participants assert that the
Trading and Markets, pursuant to delegated Inc.; Cboe EDGX Exchange, Inc.; Cboe Exchange, Amendment does not impose any
authority.10 Inc.; Chicago Stock Exchange, Inc.; Financial
burden on competition because it
Industry Regulatory Authority, Inc.; Investors
Eduardo A. Aleman, Exchange LLC; Nasdaq BX, Inc.; Nasdaq ISE, LLC; simply effectuates a change in the
Assistant Secretary. Nasdaq PHLX LLC; The Nasdaq Stock Market LLC; names and addresses of certain
[FR Doc. 2018–13763 Filed 6–26–18; 8:45 am] New York Stock Exchange LLC; NYSE Arca, Inc.; Participants. For the same reasons, the
NYSE American LLC; and NYSE National, Inc.
BILLING CODE 8011–01–P (collectively, the ‘‘Participants’’).
Participants do not believe that the
4 The Plan governs the collection, processing, and Amendment introduces terms that are
dissemination on a consolidated basis of quotation unreasonably discriminatory for
information and transaction reports in Eligible purposes of Section 11A(c)(1)(D) of the
Securities for each of its Participants. This Exchange Act.
consolidated information informs investors of the
current quotation and recent trade prices of Nasdaq F. Written Understanding or Agreements
daltland on DSKBBV9HB2PROD with NOTICES
securities. It enables investors to ascertain from one
data source the current prices in all the markets
Relating to Interpretation of, or
trading Nasdaq securities. The Plan serves as the Participation in, Plan
required transaction reporting plan for its Not applicable.
Participants, which is a prerequisite for their
trading Eligible Securities. See Securities Exchange G. Approval by Sponsors in Accordance
Act Release No. 55647 (April 19, 2007), 72 FR
20891 (April 26, 2007).
With Plan
10 17 CFR 200.30–3(a)(73). 5 17 CFR 242.608(b)(3)(ii). See Item I.C. above.
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Document Created: 2018-11-06 09:53:14
Document Modified: 2018-11-06 09:53:14
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 83 FR 30203 |
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