Notice2024-04697
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Amend FINRA Rule 6730 (Transaction Reporting) To Reduce the 15-Minute TRACE Reporting Timeframe to One Minute
Primary source
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Published
March 6, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 45 (Wednesday, March 6, 2024)</title>
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[Federal Register Volume 89, Number 45 (Wednesday, March 6, 2024)]
[Notices]
[Pages 16042-16043]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-04697]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99640; File No. SR-FINRA-2024-004]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Designation of Longer Period for Commission
Action on Proposed Rule Change To Amend FINRA Rule 6730 (Transaction
Reporting) To Reduce the 15-Minute TRACE Reporting Timeframe to One
Minute
February 29, 2024.
On January 11, 2024, 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
[[Page 16043]]
proposed rule change to amend FINRA Rule 6730 to reduce the 15-minute
TRACE reporting timeframe to one minute, with exceptions for member
firms with de minimis reporting activity and for manual trades. The
proposed rule change was published for comment in the Federal Register
on January 25, 2024.\3\ section 19(b)(2) of the Act \4\ provides that,
within 45 days of the publication of notice of the filing of a proposed
rule change, or within such longer period up to 90 days as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or as to which the
self-regulatory organization consents, the Commission shall either
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether the proposed rule change
should be disapproved. The 45th day after publication of the notice for
this proposed rule change is March 10, 2024. The Commission is
extending this 45-day time period for Commission action. The Commission
finds that it is appropriate to designate a longer period within which
to take action on the proposed rule change so that it has sufficient
time to consider the proposed rule change and the comments received.
Accordingly, pursuant to section 19(b)(2) of the Act, the Commission
designates April 24, 2024, as the date by which the Commission shall
approve or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-FINRA-2024-004).
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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. 99404 (January 19,
2024), 89 FR 5034 (January 25, 2024). Comments received on the
proposed rule change are available at: <a href="https://www.sec.gov/comments/sr-finra-2024-004/srfinra2024004.htm">https://www.sec.gov/comments/sr-finra-2024-004/srfinra2024004.htm</a>.
\4\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\5\
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\5\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-04697 Filed 3-5-24; 8:45 am]
BILLING CODE 8011-01-P
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