Notice2023-13561
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Alternative Display Facility New Entrant
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 27, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 122 (Tuesday, June 27, 2023)</title>
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[Federal Register Volume 88, Number 122 (Tuesday, June 27, 2023)]
[Notices]
[Pages 41710-41711]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-13561]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97784; File No. SR-FINRA-2022-032]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Designation of Longer Period for Commission
Action on Proceedings To Determine Whether To Approve or Disapprove a
Proposed Rule Change Relating to Alternative Display Facility New
Entrant
June 21, 2023.
On December 16, 2022, the Financial Industry Regulatory Authority,
Inc. (``FINRA'') filed with the Securities and Exchange Commission
(``Commission''),
[[Page 41711]]
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
add IntelligentCross ATS as a new entrant to the Alternative Display
Facility. The proposed rule change was published for comment in the
Federal Register on December 27, 2022.\3\ On February 9, 2023, the
Commission extended the time period within which to approve, disapprove
the proposed rule change, or institute proceedings to determine whether
to approve or disapprove the proposed rule change to March 27, 2023.\4\
On March 24, 2023, the Commission initiated proceedings under Section
19(b)(2)(B) of the Act \5\ to determine whether to approve or
disapprove the proposed rule change.\6\ The Commission has received
comments on the proposed rule change.\7\
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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. 96550 (December 20,
2022), 86 FR 79401.
\4\ See Securities Exchange Act Release No. 96864, 88 FR 9945
(February 15, 2023).
\5\ 15 U.S.C. 78s(b)(2)(B).
\6\ See Securities Exchange Act Release No. 75599 (August 4,
2015), 80 FR 47978 (August 10, 2015).
\7\ Comments on the proposed rule change are available at:
<a href="https://www.sec.gov/comments/sr-finra-2022-032/srfinra2022032.htm">https://www.sec.gov/comments/sr-finra-2022-032/srfinra2022032.htm</a>.
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Section 19(b)(2) of the Act \8\ provides that, after initiating
disapproval 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 the filing of the proposed rule
change.\9\ 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.\10\ The
proposed rule change was published for comment in the Federal Register
on December 27, 2022. June 25, 2023 is 180 days from that date, and
August 24, 2023 is an additional 60 days from that date.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
\10\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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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 comment
letters and take action on the proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates
August 24, 2023, as the date by which the Commission should either
approve or disapprove the proposed rule change (File No. SR-FINRA-2022-
032).
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\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-13561 Filed 6-26-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on June 27, 2023.
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