Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend BATS Rule 11.13, Entitled “Order Execution”, 64995 [Z8-25388]
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Federal Register / Vol. 73, No. 212 / Friday, October 31, 2008 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58776; File No. SR–BATS–
2008–007]
Self-Regulatory Organizations; BATS
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend BATS Rule
11.13, Entitled ‘‘Order Execution’’
October 14, 2008.
Correction
In notice document E8–25388
beginning on page 63529 in the issue of
Friday, October 24, 2008, make the
following correction:
On page 63531, in the first column, in
the last line from the bottom,
‘‘November 13, 2008’’ should read
‘‘November 14, 2008’’.
[FR Doc. Z8–25388 Filed 10–30–08; 8:45 am]
BILLING CODE 1505–01–D
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58862; File No. SR–FINRA–
2008–051]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing of
Proposed Rule Change Relating to
Amendments to the Codes of
Arbitration Procedure To Require
Arbitrators To Provide an Explained
Decision Upon the Joint Request of the
Parties
October 27, 2008.
ebenthall on PROD1PC60 with NOTICES
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 October
14, 2008, Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) (f/k/a
National Association of Securities
Dealers, Inc. (‘‘NASD’’)) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III below, which Items have been
substantially prepared by FINRA. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
FINRA is proposing to amend NASD
Rules 12214, 12514 and 12904 of the
Code of Arbitration Procedure for
Customer Disputes (‘‘Customer Code’’)
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Aug<31>2005
15:31 Oct 30, 2008
Jkt 217001
and NASD Rules 13214, 13514 and
13904 of the Code of Arbitration
Procedure for Industry Disputes
(‘‘Industry Code,’’ and together with the
Customer Code, the ‘‘Codes’’) to require
arbitrators to provide an explained
decision upon the joint request of the
parties. Below is the text of the
proposed rule change. Proposed new
language is in italics; proposed
deletions are in brackets.
*
*
*
*
*
Customer Code
12214. Payment of Arbitrators
(a)–(d) No change.
(e) Payment for Explained Decisions
(1) The chairperson who is
responsible for writing an explained
decision pursuant to Rule 12904(g) will
receive an additional honorarium of
$400. The panel will allocate the cost of
the honorarium under Rule 12904(g) to
the parties.
(2) If the panel decides on its own to
write an explained decision, then no
panel member will receive the
additional honorarium of $400.
*
*
*
*
*
12514. Pre-hearing Exchange of
Documents and Witness Lists [Before
Hearing], and Explained Decision
Requests
(a)–(c) No change.
(d) Explained Decision Request
At least 20 days before the first
scheduled hearing date, all parties must
submit to the panel any joint request for
an explained decision under Rule
12904(g).
*
*
*
*
*
12904. Awards
(a)–(f) No change.
(g) Explained Decisions
(1) This paragraph (g) applies only
when all parties jointly request an
explained decision.
(2) An explained decision is a factbased award stating the general
reason(s) for the arbitrators’ decision.
Inclusion of legal authorities and
damage calculations is not required.
(3) Parties must make any request for
an explained decision no later than the
time for the pre-hearing exchange of
documents and witness lists under Rule
12514(d).
(4) The chairperson of the panel will
be responsible for writing the explained
decision.
(5) The chairperson will receive an
additional honorarium of $400 for
writing the explained decision, as
required by this paragraph (g). The
panel will allocate the cost of the
chairperson’s honorarium to the parties
as part of the final award.
PO 00000
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Fmt 4703
Sfmt 4703
64995
(6) This paragraph (g) will not apply
to simplified cases decided without a
hearing under Rule 12800 or to default
cases conducted under Rule 12801.
(g)–(i) Renumbered as (h)–(j).
*
*
*
*
*
Industry Code
13214. Payment of Arbitrators
(a)–(d) No change.
(e) Payment for Explained Decisions
(1) The chairperson who is
responsible for writing an explained
decision pursuant to Rule 13904(g) will
receive an additional honorarium of
$400. The panel will allocate the cost of
the honorarium under Rule 13904(g) to
the parties.
(2) If the panel decides on its own to
write an explained decision, then no
panel member will receive the
additional honorarium of $400.
*
*
*
*
*
13514. Pre-hearing Exchange of
Documents and Witness Lists [Before
Hearing], and Explained Decision
Requests
(a)–(c) No change.
(d) Explained Decision Request
At least 20 days before the first
scheduled hearing date, all parties must
submit to the panel any joint request for
an explained decision under Rule
13904(g).
*
*
*
*
*
13904. Awards
(a)–(f) No change.
(g) Explained Decisions
(1) This paragraph (g) applies only
when all parties jointly request an
explained decision.
(2) An explained decision is a factbased award stating the general
reason(s) for the arbitrators’ decision.
Inclusion of legal authorities and
damage calculations is not required.
(3) Parties must make any request for
an explained decision no later than the
time for the pre-hearing exchange of
documents and witness lists under Rule
13514(d).
(4) The chairperson of the panel will
be responsible for writing the explained
decision.
(5) The chairperson will receive an
additional honorarium of $400 for
writing the explained decision, as
required by this paragraph (g). The
panel will allocate the cost of the
chairperson’s honorarium to the parties
as part of the final award.
(6) This paragraph (g) will not apply
to simplified cases decided without a
hearing under Rule 13800 or to default
cases conducted under Rule 13801.
(g)–(i) Renumbered as (h)–(j).
*
*
*
*
*
E:\FR\FM\31OCN1.SGM
31OCN1
]]>Agencies
[Federal Register Volume 73, Number 212 (Friday, October 31, 2008)]
[Notices]
[Page 64995]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: Z8-25388]
[[Page 64995]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58776; File No. SR-BATS-2008-007]
Self[dash]Regulatory Organizations; BATS Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change To Amend
BATS Rule 11.13, Entitled ``Order Execution''
October 14, 2008.
Correction
In notice document E8-25388 beginning on page 63529 in the issue of
Friday, October 24, 2008, make the following correction:
On page 63531, in the first column, in the last line from the
bottom, ``November 13, 2008'' should read ``November 14, 2008''.
[FR Doc. Z8-25388 Filed 10-30-08; 8:45 am]
BILLING CODE 1505-01-D
