Sunshine Act Meeting, 67905 [E8-27295]

Download as PDF Federal Register / Vol. 73, No. 222 / Monday, November 17, 2008 / Notices the valuation of assets of the kind held by Finance LP. Consistent with the Firm’s customary practice, Units will be valued in accordance with the terms of the Transfer Agreements. In addition, as soon as practicable after the end of each fiscal year of the Firm, Finance GP shall send a report to each person who was a Unitholder at any time during the fiscal year then ended, setting forth such tax information as shall be necessary for the preparation by the Unitholder of his or her federal and state income tax returns and a report of the investment activities of Finance LP during such year. 3. Finance LP and the Finance GP Executive Committee will maintain and preserve, for the life of Finance LP and at least six years thereafter, such accounts, books, and other documents as constitute the record forming the basis for the audited financial statements and annual reports of the Firm to be provided to Unitholders, and agree that all such records will be subject to examination by the Commission and its staff. All such records will be maintained in an easily accessible place for at least the first two years. For the Commission, by the Division of Investment Management, under delegated authority. Florence E. Harmon, Acting Secretary. [FR Doc. E8–27213 Filed 11–14–08; 8:45 am] BILLING CODE 8011–01–P jlentini on PROD1PC65 with NOTICES Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold an Open Meeting on Wednesday, November 19, 2008 at 10 a.m., in the Auditorium, Room L– 002. The subject matter of the Open Meeting will be: Item 1: The Commission will consider whether to adopt rule amendments that would impose additional requirements on nationally recognized statistical rating organizations in order to address concerns about the integrity of their credit rating procedures and methodologies. Item 2: The Commission will consider whether to adopt rule amendments to improve mutual fund disclosure by providing investors with a summary prospectus containing key information in plain English in a clear and concise Jkt 217001 BILLING CODE 8011–01–P On October 9, 2008, FINRA filed Amendment No. 1 to the proposed rule change.5 November 3, 2008, FINRA filed Amendment No. 2.6 This order approves the proposed rule change, as amended. II. Description of Proposed Rule Change A. Summary FINRA has proposed to amend its trade reporting rules applicable to OTC equity transactions 7 to: (1) Replace the current market maker-based trade reporting framework with an ‘‘executing party’’ framework; and (2) require that any member with the trade reporting obligation under FINRA rules that is acting in a riskless principal or agency capacity on behalf of one or more other members submit non-tape reports to FINRA, as necessary, to identify such other member(s) as a party to the trade. B. Description of Proposed Rule Change SECURITIES AND EXCHANGE COMMISSION [Release No. 34–58903; File No. SR–FINRA– 2008–011] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving Proposed Rule Change To Amend the Trade Reporting Structure and Require Submission of Non-Tape Reports That Identify Other Members Who Participated in Agency and Riskless Principal Transactions as Modified by Amendments Nos. 1 and 2 I. Introduction Sunshine Act Meeting 18:18 Nov 14, 2008 Dated: November 12, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–27295 Filed 11–14–08; 8:45 am] November 5, 2008. SECURITIES AND EXCHANGE COMMISSION VerDate Aug<31>2005 format, and by enhancing the availability on the Internet of more detailed information to investors. The Commission also will consider whether to adopt related amendments to Form N–1A, including amendments that address exchange-traded funds. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. 67905 On March 28, 2008, the Financial Industry Regulatory Authority, Inc., (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘SEC’’) 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 amend its trade reporting rules applicable to over-thecounter (‘‘OTC’’) equity transactions. The proposed rule change was published for comment in the Federal Register on April 24, 2008.3 The Commission received four comment letters on the proposed rule change.4 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 57681 (April 17, 2008), 73 FR 22186 (‘‘Notice’’). 4 See letters from Romeo Bermudez, Chief Compliance Officer, Direct Edge ECN LLC, to Florence E. Harmon, Acting Secretary, Commission, dated May 13, 2008 (‘‘Direct Edge Letter’’); Eric Swanson, General Counsel, BATS Trading, Inc, to Florence E. Harmon, Acting Secretary, Commission, dated May 14, 2008 (‘‘BATS Letter’’); Ann Vlcek, Managing Director and Associate General Counsel, 2 17 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 1. Trade Reporting Structure Currently, the following structure is in place for purposes of reporting most OTC equity transactions to FINRA: (1) In transactions between two market makers, the sell-side reports; (2) in transactions between a market maker and a non-market maker, the market maker reports; (3) in transactions between two non-market makers, the sell-side reports; and (4) in transactions between a member and either a nonmember or customer, the member reports. FINRA has proposed to amend its rules to require that for transactions between members, the ‘‘executing party’’ reports the trade to FINRA and Securities Industry and Financial Markets Association (‘‘SIFMA’’) to Florence E. Harmon, Acting Secretary, Commission, dated May 15, 2008 (‘‘SIFMA Letter’’); Philip M. Pinc, Vice President, Counsel, National Stock Exchange, Inc. (‘‘NSX’’), to Florence E. Harmon, Acting Secretary, Commission, dated May 29, 2008 (‘‘NSX Letter’’). 5 In Amendment No. 1, FINRA made technical changes to the rule text to reflect changes approved by the Commission in SR–FINRA–2008–021, which renumbered certain rules and replaced references to ‘‘NASD’’ with ‘‘FINRA.’’ See Securities Exchange Act Release No. 58643 (September 25, 2008), 73 FR 57174 (October 1, 2008). 6 In Amendment No. 2, FINRA clarified that the implementation date for this proposed rule change would be 180 days from the date of this approval order. The Commission is not publishing the amendment for comment. 7 Specifically, OTC equity transactions are: (1) Transactions in NMS stocks, as defined in Rule 600(b) of Regulation NMS under the Act, effected otherwise than on an exchange, which are reported through the Alternative Display Facility (‘‘ADF’’) or a Trade Reporting Facility (‘‘TRF’’); and (2) transactions in ‘‘OTC Equity Securities,’’ as defined in NASD Rule 6610 (e.g., OTC Bulletin Board and Pink Sheets securities), Direct Participation Program (‘‘DPP’’) securities and PORTAL equity securities, which are reported through the OTC Reporting Facility (‘‘ORF’’). The ADF, TRFs and ORF are collectively referred to herein as the ‘‘FINRA Facilities.’’ E:\FR\FM\17NON1.SGM 17NON1

Agencies

[Federal Register Volume 73, Number 222 (Monday, November 17, 2008)]
[Notices]
[Page 67905]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-27295]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold an Open Meeting on Wednesday, 
November 19, 2008 at 10 a.m., in the Auditorium, Room L-002.
    The subject matter of the Open Meeting will be:
    Item 1: The Commission will consider whether to adopt rule 
amendments that would impose additional requirements on nationally 
recognized statistical rating organizations in order to address 
concerns about the integrity of their credit rating procedures and 
methodologies.
    Item 2: The Commission will consider whether to adopt rule 
amendments to improve mutual fund disclosure by providing investors 
with a summary prospectus containing key information in plain English 
in a clear and concise format, and by enhancing the availability on the 
Internet of more detailed information to investors. The Commission also 
will consider whether to adopt related amendments to Form N-1A, 
including amendments that address exchange-traded funds.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: November 12, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-27295 Filed 11-14-08; 8:45 am]
BILLING CODE 8011-01-P