Notice2023-11924
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt FINRA Rules 6151 (Disclosure of Order Routing Information for NMS Securities) and 6470 (Disclosure of Order Routing Information for OTC Equity Securities)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 6, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 108 (Tuesday, June 6, 2023)</title>
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[Federal Register Volume 88, Number 108 (Tuesday, June 6, 2023)]
[Notices]
[Page 37112]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-11924]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97629; File No. SR-FINRA-2022-031]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Designation of a Longer Period for
Commission Action on Proceedings To Determine Whether To Approve or
Disapprove a Proposed Rule Change To Adopt FINRA Rules 6151 (Disclosure
of Order Routing Information for NMS Securities) and 6470 (Disclosure
of Order Routing Information for OTC Equity Securities)
On November 16, 2022, the Financial Industry Regulatory Authority
Inc. (``FINRA'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to adopt rules regarding the disclosure of order
routing information for NMS securities and OTC equity securities. The
proposed rule change was published for comment in the Federal Register
on December 6, 2022.\3\ On January 18, 2023, the Commission extended
the time period within which to approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether to approve or disapprove the proposed rule change to
March 6, 2023.\4\ On March 3, 2023, the Commission instituted
proceedings to determine whether to approve or disapprove the proposed
rule change.\5\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 96415 (November 30,
2022), 87 FR 74672 (December 6, 2022). Comments on the proposed rule
change are available at: <a href="https://www.sec.gov/comments/sr-finra-2022-031/srfinra2022031.htm">https://www.sec.gov/comments/sr-finra-2022-031/srfinra2022031.htm</a>.
\4\ See Securities Exchange Act Release No. 96699, 88 FR 4260
(January 24, 2023).
\5\ See Securities Exchange Act Release No. 97039, 88 FR 14653
(March 9, 2023).
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Section 19(b)(2) of the Act \6\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission may extend the period for issuing an order approving or
disapproving the proposed rule change, however, by not more than 60
days if the Commission determines that a longer period is appropriate
and publishes the reasons for such determination. The proposed rule
change was published for notice and comment in the Federal Register on
December 6, 2022.\7\ June 4, 2023 is 180 days from that date, and
August 3, 2023 is 240 days from that date. The Commission finds it
appropriate to designate a longer period within which to issue an order
approving or disapproving the proposed rule change so that it has
sufficient time to consider the proposed rule change and its comments.
Accordingly, the Commission, pursuant to section 19(b)(2) of the
Act,\8\ designates August 3, 2023 as the date by which the Commission
shall either approve or disapprove the proposed rule change (File No.
SR-FINRA-2022-031).
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\6\ 15 U.S.C. 78s(b)(2).
\7\ See Notice, supra note 3.
\8\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-11924 Filed 6-5-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on June 6, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.