Notice2024-31768
Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 6897(b) (CAT Cost Recovery Fees) To Implement a Consolidated Audit Trail Cost Recovery Fee
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
January 6, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 3 (Monday, January 6, 2025)</title>
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[Federal Register Volume 90, Number 3 (Monday, January 6, 2025)]
[Notices]
[Page 703]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-31768]
[[Page 703]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102062; File No. SR-FINRA-2024-024]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend FINRA Rule 6897(b) (CAT Cost Recovery
Fees) To Implement a Consolidated Audit Trail Cost Recovery Fee
December 31, 2024.
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 December 20, 2024, the Financial Industry Regulatory Authority, Inc.
(``FINRA'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Item I below,
which Item has been substantially prepared by FINRA. FINRA has
designated this proposal for immediate effectiveness pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f) thereunder.\4\ The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f). 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 will institute proceedings to determine whether the
proposed rule change should be approved or disapproved.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
FINRA is proposing to amend FINRA Rule 6897(b) (CAT Cost Recovery
Fees) to implement a Consolidated Audit Trail (``CAT'') cost recovery
fee designed to permit FINRA to recoup its designated portion of the
reasonably budgeted CAT costs of the National Market System Plan
Governing the Consolidated Audit Trail (the ``CAT NMS Plan'' or
``Plan'') for the period of January 1, 2025 through December 31,
2025.\5\
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\5\ Pursuant to Section 11.3(a) of the CAT NMS Plan, FINRA filed
a separate proposed rule change to establish fees assessed to
Industry Members, payable to Consolidated Audit Trail, LLC, related
to the recovery of approximately one-half of the reasonably budgeted
CAT costs for the period of January 1, 2025 through December 31,
2025. See File No. SR-FINRA-2024-023. Unless otherwise specified,
capitalized terms used in this rule filing are defined as set forth
in the CAT NMS Plan and FINRA Rule 6800 Series (Consolidated Audit
Trail Compliance Rule).
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The proposed rule change, including FINRA's statement of the
purpose of, and statutory basis for, the proposed rule change, is
available on FINRA's website at <a href="https://www.finra.org">https://www.finra.org</a>, at the principal
office of FINRA and on the Commission's website at <a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024</a>.
II. 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.\6\ Comments may be submitted
electronically by using the Commission's internet comment form (<a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024</a>) or by sending an email to <a href="/cdn-cgi/l/email-protection#6d1f180108400e0200000803191e2d1e080e430a021b"><span class="__cf_email__" data-cfemail="8af8ffe6efa7e9e5e7e7efe4fef9caf9efe9a4ede5fc">[email protected]</span></a>. Please include file number SR-FINRA-2024-024 on the
subject line. Alternatively, paper comments may be sent to Secretary,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-1090. All submissions should refer to file number SR-FINRA-2024-
024. 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 (<a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/finra?file_number=SR-FINRA-2024-024</a>). Do not include personal
identifiable information in submissions; you should submit only
information that you wish to make available publicly. We may redact in
part or withhold entirely from publication submitted material that is
obscene or subject to copyright protection. All submissions should
refer to file number SR-FINRA-2024-024 and should be submitted on or
before January 27, 2025.
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\6\ 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 a.m. and 3 p.m. Copies of the filing also will be
available for inspection and copying at the principal office of SRO.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Stephanie J. Fouse,
Assistant Secretary.
[FR Doc. 2024-31768 Filed 1-3-25; 8:45 am]
BILLING CODE 8011-01-P
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