Advisory Committee on Improvements to Financial Reporting, 58135-58136 [E7-20131]

Download as PDF Federal Register / Vol. 72, No. 197 / Friday, October 12, 2007 / Notices Linkage Plan to permit the use of Linkage prior to the opening of trading. The Linkage Plan currently does not permit use of Linkage before an exchange opens for trading and disseminates a quotation in an option series. In addition, there is no tradethrough protection for opening trades. As a result, if there is a better market away at the time a Participant opens its market, market makers on that Participant cannot access that market for a customer, and the customer could receive a price inferior to the national best bid and offer. The Joint Amendment would allow the sending of Linkage P/A Orders 4 prior to the opening, allowing market makers to access better markets on behalf of customers prior to an exchange’s opening. II. Implementation of the Plan Amendment The proposed Joint Amendment to the Linkage Plan will be effective upon approval by the Commission pursuant to Rule 608 of Regulation NMS under the Act. III. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed Joint Amendment to the Linkage Plan is consistent with the Act. Comments may be submitted by any of the following methods: jlentini on PROD1PC65 with NOTICES Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number 4–429 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to Joint Amendment No. 23 to File Number 4– 429. This file number should be included on the subject line if e-mail 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 Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed Joint 4 See Section 2(16)(a) of the Linkage Plan. VerDate Aug<31>2005 16:35 Oct 11, 2007 Jkt 214001 Amendment that are filed with the Commission, and all written communications relating to the proposed Joint Amendment 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 inspection and copying 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 such filing also will be available for inspection and copying at the principal offices of the Amex, BSE, CBOE, ISE, NYSE Arca, and Phlx. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to Joint Amendment No. 23 to File Number 4– 429 and should be submitted on or before November 2, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 Nancy M. Morris, Secretary. [FR Doc. E7–20117 Filed 10–11–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–8856; 34–56624; File No. 265–24] Advisory Committee on Improvements to Financial Reporting Securities and Exchange Commission. ACTION: Notice of Meeting of SEC Advisory Committee on Improvements to Financial Reporting. AGENCY: SUMMARY: The Securities and Exchange Commission Advisory Committee on Improvements to Financial Reporting is providing notice that it will hold a public meeting on Friday, November 2, 2007, in the Auditorium, Room L–002, at the Commission’s main offices, 100 F Street, NE., Washington, DC, beginning at 9:30 a.m. The meeting will be open to the public. The meeting will be webcast on the Commission’s Web site at www.sec.gov. The public is invited to submit written statements for the meeting. The agenda for the meeting includes consideration of comment letters received by the Advisory Committee, 5 17 PO 00000 CFR 200.30–3(a)(29). Frm 00090 Fmt 4703 Sfmt 4703 58135 consideration of reports of the subcommittees of the Advisory Committee, discussion of any recommendations proposed for adoption by the Advisory Committee, and discussion of next steps and planning for the next meeting. Written statements should be received on or before October 26, 2007. DATES: Written statements may be submitted by any of the following methods: ADDRESSES: Electronic Comments • Use the Commission’s Internet submission form (http://www.sec.gov/ rules/other.shtml); or • Send an e-mail message to rulecomments@sec.gov. Please include File Number 265–24 on the subject line. Paper Comments • Send paper statements in triplicate to Nancy M. Morris, Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. 265–24. This file number should be included on the subject line if e-mail is used. To help us process and review your statements more efficiently, please use only one method. The Commission staff will post all statements on the Advisory Committee’s Web site (http:// www.sec.gov/about/offices/oca/ acifr.shtml). Statements also will be available for public inspection and copying 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. All statements received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: James L. Kroeker, Deputy Chief Accountant, or Shelly C. Luisi, Senior Associate Chief Accountant, at (202) 551–5300, Office of the Chief Accountant, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–6561. In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. 1, § 10(a), James L. Kroeker, Designated Federal Officer of the Committee, has approved publication of this notice. SUPPLEMENTARY INFORMATION: E:\FR\FM\12OCN1.SGM 12OCN1 58136 Federal Register / Vol. 72, No. 197 / Friday, October 12, 2007 / Notices Dated: October 5, 2007. Nancy M. Morris, Committee Management Officer. [FR Doc. E7–20131 Filed 10–11–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56615; File No. SR–FINRA– 2007–014] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Limit the Use of FINRA’s Name and Any Other Name Owned by FINRA and To Require Members and Persons Associated With a Member that Refer to their FINRA Membership on a Web site to Provide a Hyperlink to www.finra.org October 4, 2007. 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 September 17, 2007, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) (f/k/a National Association of Securities Dealers, Inc. (‘‘NASD’’)) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared substantially by FINRA. FINRA filed the proposal under section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. jlentini on PROD1PC65 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend NASD Interpretative Material 2210–4 (‘‘IM– 2210–4’’) to limit the use of FINRA’s name and any other corporate name owned by FINRA and to require members and persons associated with a member that refer to their FINRA Membership on a Web site to provide a hyperlink to http://www.finra.org. The text of the proposed rule change is available at http://www.finra.org, the principal offices of FINRA, and the Commission’s Public Reference Room. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b—4(f)(6). 2 17 VerDate Aug<31>2005 17:21 Oct 11, 2007 Jkt 214001 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA 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. FINRA 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 On November 9, 2006, the SEC approved an amendment to IM–2210–4 establishing a requirement for member firms and persons associated with a member that refer to their membership in NASD on a Web site to hyperlink to NASD’s home page, http:// www.nasd.com (‘‘the hyperlink requirement’’).5 On January 8, 2007, NASD published Notice to Members 07– 02, which announced the Commission’s approval of the hyperlink requirement and established July 7, 2007, as its implementation date.6 Following SEC approval of the hyperlink requirement, NASD and NYSE Group, Inc (‘‘NYSE’’) announced a plan to consolidate their member regulation operations into a combined organization, the sole U.S. private-sector provider of member firm regulation for securities firms that do business with the public. To reflect this consolidation, NASD changed its corporate name and internet domain and delayed the implementation of the hyperlink requirement until its new corporate name and internet domain could be established.7 NASD has changed its name to FINRA and changed its internet domain from http:// www.nasd.com to http://www.finra.org. FINRA is now submitting the instant proposed rule change to amend IM– 5 See Securities Exchange Act Release No. 54740 (November 9, 2006), 71 FR 67184 (November 20, 2006) (SR–NASD–2006–073). 6 See NASD Notice to Members 07–02 (January 2007). 7 FINRA previously announced that it would file a separate rule change to amend IM–2210–4 to reflect its new corporate name. See Securities Exchange Act Release No. 56124 (July 24, 2007), 72 FR 42165 (August 1, 2007) (SR–NASD–2007–042) (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Delay the Implementation of NASD Interpretative Material 2210–4, which Requires Certain Member Firms to Provide a Hyperlink to http//www.nasd.com). PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 2210–4 to reflect the new corporate identity. First, the proposed rule change amends the heading of IM–2210–4 to refer to FINRA instead of NASD. Second, the reference to the NASD ByLaws has been updated to refer to the FINRA By-Laws, which were adopted on July 30, 2007.8 Third, paragraph (1) includes a reference to FINRA or any other corporate name or facility owned by FINRA. By including ‘‘any other corporate name or facility owned by FINRA,’’ IM–2210–4 will still retain limitations on the use of NASD’s name to avoid any potential confusion or misuse of its legacy name, which is still widely accepted by investors. In addition, IM–2210–4 will encompass names or facilities of FINRA, including TRACE and ADF. Consequently, under the proposed rule change, members could neither state nor imply in any communications with the public that FINRA, or any other corporate name or facility owned by FINRA, endorses, indemnifies, or guarantees the member’s business practices, selling methods, the class or type of securities offered, or any specific security. Finally, in paragraph (3), FINRA replaces the references to ‘‘NASD’’ and the NASD Web site, ‘‘www.nasd.com,’’ with ‘‘FINRA,’’ and ‘‘www.finra.org’’ to reflect the new corporate identity. This amendment would require members, or persons associated with a member, that refer to their FINRA membership on a Web site to provide a hyperlink to http://www.finra.org.9 FINRA will announce the implementation date of the proposed rule change in a Regulatory Notice to be published no later than 60 days following Commission notice of the filing of the rule change in the Federal Register for immediate effectiveness. The implementation date will be 30 days after the date of the filing. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of section 15A(b)(6) of the Act,10 which requires, among other things, that 8 Specifically, Article XV, Section 2, now states: ‘‘No member shall use the name of the Corporation except to the extent that may be permitted by the Rules of the Corporation.’’ The name of the Corporation is Financial Industry Regulatory Authority, Inc. See Securities Exchange Act Release No. 56146 (July 26, 2007), 72 FR 42190 (August 1, 2007) (SR–NASD–2007–053) (Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change Relating to the Restated Certificate of Incorporation of National Association of Securities Dealers, Inc.). 9 See Footnote 7. 10 15 U.S.C. 78o–3(b)(6). E:\FR\FM\12OCN1.SGM 12OCN1

Agencies

[Federal Register Volume 72, Number 197 (Friday, October 12, 2007)]
[Notices]
[Pages 58135-58136]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-20131]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-8856; 34-56624; File No. 265-24]


Advisory Committee on Improvements to Financial Reporting

AGENCY: Securities and Exchange Commission.

ACTION: Notice of Meeting of SEC Advisory Committee on Improvements to 
Financial Reporting.

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SUMMARY: The Securities and Exchange Commission Advisory Committee on 
Improvements to Financial Reporting is providing notice that it will 
hold a public meeting on Friday, November 2, 2007, in the Auditorium, 
Room L-002, at the Commission's main offices, 100 F Street, NE., 
Washington, DC, beginning at 9:30 a.m. The meeting will be open to the 
public. The meeting will be webcast on the Commission's Web site at 
www.sec.gov. The public is invited to submit written statements for the 
meeting.
    The agenda for the meeting includes consideration of comment 
letters received by the Advisory Committee, consideration of reports of 
the subcommittees of the Advisory Committee, discussion of any 
recommendations proposed for adoption by the Advisory Committee, and 
discussion of next steps and planning for the next meeting.

DATES: Written statements should be received on or before October 26, 
2007.

ADDRESSES: Written statements may be submitted by any of the following 
methods:

Electronic Comments

     Use the Commission's Internet submission form (http://
www.sec.gov/rules/other.shtml); or
     Send an e-mail message to rule-comments@sec.gov. Please 
include File Number 265-24 on the subject line.

Paper Comments

     Send paper statements in triplicate to Nancy M. Morris, 
Federal Advisory Committee Management Officer, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-1090.
    All submissions should refer to File No. 265-24. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your statements more efficiently, please use only 
one method. The Commission staff will post all statements on the 
Advisory Committee's Web site (http://www.sec.gov/about/offices/oca/
acifr.shtml). Statements also will be available for public inspection 
and copying 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. All statements received will be posted without 
change; we do not edit personal identifying information from 
submissions. You should submit only information that you wish to make 
available publicly.

FOR FURTHER INFORMATION CONTACT: James L. Kroeker, Deputy Chief 
Accountant, or Shelly C. Luisi, Senior Associate Chief Accountant, at 
(202) 551-5300, Office of the Chief Accountant, Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549-6561.

SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the 
Federal Advisory Committee Act, 5 U.S.C. App. 1, Sec.  10(a), James L. 
Kroeker, Designated Federal Officer of the Committee, has approved 
publication of this notice.


[[Page 58136]]


    Dated: October 5, 2007.
Nancy M. Morris,
Committee Management Officer.
 [FR Doc. E7-20131 Filed 10-11-07; 8:45 am]
BILLING CODE 8011-01-P