Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Application of Transaction-Related Charges for Trade Reporting to the OTC Reporting Facility, 31471-31472 [E9-15468]
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Federal Register / Vol. 74, No. 125 / Wednesday, July 1, 2009 / Notices
FAX (202) 606–0910 or via E-mail to
Cyrus.Benson@opm.gov. Please include
a mailing address with your request.
DATES: Comments on this proposal
should be received within 30 calendar
days from the date of this publication.
ADDRESSES: Send or deliver comments
to—
James K. Freiert, Deputy Assistant
Director, Retirement Services
Program, Center for Retirement and
Insurance Services, U.S. Office of
Personnel Management, 1900 E Street,
NW., Room 3305, Washington, DC
20415–3500.
and
OPM Desk Officer, Office of Information
& Regulatory Affair, Office of
Management and Budget, New
Executive Office Building, 725 17th
Street, NW., Room 10235,
Washington, DC 20503.
For information regarding
administrative Coordination contact:
Cyrus S. Benson, Team Leader,
Publications Team, RIS Support
Services/Support Group, 1900 E
Street, NW., Room 4H28, Washington,
DC 20415, (202) 606–0623.
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. E9–15565 Filed 6–30–09; 8:45 am]
BILLING CODE 6325–38–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #11791 and #11792]
AGENCY: U.S. Small Business
Administration.
ACTION: Notice.
15:22 Jun 30, 2009
Jkt 217001
notice is hereby given that on June 17,
2009, 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 and
II below [sic], which Items have been
prepared by FINRA. FINRA has
designated the proposed rule change as
‘‘establishing or changing a due, fee or
other charge’’ under Section
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
4(f)(2) thereunder,4 which renders the
proposal effective upon receipt of this
filing by the Commission. The
Percent
Commission is publishing this notice to
solicit comments on the proposed rule
4.875 change from interested persons.
Homeowners With Credit Available Elsewhere .........................
Homeowners
Without
Credit
Available Elsewhere ..................
Businesses With Credit Available
Elsewhere .................................
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..................
Other (Including Non-Profit Organizations) With Credit Available
Elsewhere .................................
Businesses and Non-Profit Organizations Without Credit Available Elsewhere .........................
2.437
6.000
4.000
4.500
4.000
The number assigned to this disaster
for physical damage is 11791 B and for
economic injury is 11792 0.
The Commonwealth which received
an EIDL Declaration # is Kentucky.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
BILLING CODE 8025–01–P
SUMMARY: This is a notice of an
Administrative declaration of a disaster
for the Commonwealth of Kentucky
dated 06/24/2009.
Incident: Severe Storms and
Tornadoes.
Incident Period: 05/08/2009.
DATES: Effective Date: 06/24/2009.
Physical Loan Application Deadline
Date: 08/24/2009.
Economic Injury (EIDL) Loan
Application Deadline Date: 03/24/2010.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing And
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
VerDate Nov<24>2008
Notice is
hereby given that as a result of the
Administrator’s disaster declaration,
applications for disaster loans may be
filed at the address listed above or other
locally announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Madison.
Contiguous Counties:
Kentucky: Clark, Estill, Fayette,
Garrard, Jackson, Jessamine,
Rockcastle.
The Interest Rates are:
SUPPLEMENTARY INFORMATION:
June 24, 2009.
Karen G. Mills,
Administrator.
[FR Doc. E9–15518 Filed 6–30–09; 8:45 am]
Kentucky Disaster #KY–00025
31471
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60168; File No. SR–FINRA–
2009–043]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the
Application of Transaction-Related
Charges for Trade Reporting to the
OTC Reporting Facility
June 24, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00070
Fmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
FINRA is proposing to amend FINRA
Rule 7710 to clarify the application of
transaction-related charges for trade
reporting to the OTC Reporting Facility
(‘‘ORF’’).
The text of the proposed rule change
is available on FINRA’s Web site at
https://www.finra.org, at the principal
office of FINRA and at the
Commission’s Public Reference Room.
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
The FINRA Rule 7700 Series, among
other things, sets forth the pricing
schedule for the ORF, the OTC Bulletin
Board, and the Trade Reporting and
Compliance Engine Services. On March
1, 2007, FINRA filed a proposed rule
change (SR–NASD–2007–018) for
immediate effectiveness that deleted
certain fee provisions from the FINRA
3 15
4 17
Sfmt 4703
E:\FR\FM\01JYN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
01JYN1
31472
Federal Register / Vol. 74, No. 125 / Wednesday, July 1, 2009 / Notices
Rule 7700 Series 5 and amended certain
other provisions.6 In that filing, NASD
Rule 7010(g) was renumbered as NASD
Rule 7010, renamed, and amended to
apply only to the ORF.7 The
amendments became operative on
March 5, 2007.8 As FINRA stated in the
filing, the amendments made to the rule
language were not intended to modify
any of the charges relating to the ORF.
Although there was no intent to
modify any charges in connection with
reporting transactions to the ORF, the
rule language, as amended, omits some
securities from the rule because of the
definition of ‘‘OTC Equity Security’’ in
FINRA Rule 6420. The previous rule,
NASD Rule 7010(g), included a catch-all
provision that applied a charge of
$0.029/side to the ‘‘reporting of all other
transactions not subject to comparison.’’
This language included, for example,
PORTAL equity securities, which are
reported to the ORF pursuant to the
PORTAL rules in the FINRA Rule 6630
Series. The term ‘‘OTC Equity Security,’’
however, specifically excludes PORTAL
securities and restricted securities from
the definition.9 Thus, by using the
defined term ‘‘OTC Equity Security,’’
the rule was inadvertently amended to
exclude PORTAL equity securities from
the scope of the rule.
The proposed rule change would
delete the reference to ‘‘OTC Equity
Security’’ in FINRA Rule 7710 and
clarify that the charge applies to the
reporting of transactions in any security,
not just OTC Equity Securities, to the
ORF that are not subject to comparison
through the ORF.
FINRA has filed the proposed rule
change for immediate effectiveness. The
effective date and the implementation
date will be the date of filing, June 17,
2009.
2. Statutory Basis
FINRA believes that the proposed rule
change is consistent with the provisions
of Section 15A(b)(5) of the Act,10 which
5 At the time of the rule filing, the FINRA Rule
7700 Series was the NASD Rule 7000 Series. The
NASD Rule 7000 Series was renumbered as the
FINRA Rule 7700 Series in 2008. See Securities
Exchange Act Release No. 58643 (September 25,
2008), 73 FR 57174 (October 1, 2008); see also
FINRA Regulatory Notice 08–57 (October 2008).
6 See Securities Exchange Act Release No. 55538
(March 27, 2007), 72 FR 15924 (April 3, 2007)
(Notice of Filing and Immediate Effectiveness of
SR–NASD–2007–018).
7 NASD Rule 7010 was later renumbered as
FINRA Rule 7710. See Securities Exchange Act
Release No. 58643 (September 25, 2008), 73 FR
57174 (October 1, 2008).
8 See Securities Exchange Act Release No. 55538
(March 27, 2007), 72 FR 15924 (April 3, 2007)
(Notice of Filing and Immediate Effectiveness of
SR–NASD–2007–018).
9 See FINRA Rule 6420(c), (d).
10 15 U.S.C. 78o–3(b)(5).
VerDate Nov<24>2008
15:22 Jun 30, 2009
Jkt 217001
requires, among other things, that
FINRA rules provide for the equitable
allocation of reasonable dues, fees and
other charges among members and
issuers and other persons using any
facility or system that FINRA operates
or controls. FINRA believes that the
proposed rule change clarifies the
charges assessed with respect to
transactions reported to the ORF and
correctly reflects FINRA’s intent when
amending the rule in SR–NASD–2007–
018.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and paragraph (f)(2) of Rule
19b–4 thereunder.12 At any time within
60 days of the filing of the proposed rule
change, the Commission may summarily
abrogate 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.
IV. 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.
Comments may be submitted by any of
the following methods:
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–FINRA–2009–043. 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 (https://www.sec.gov/
rules/sro.shtml). 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 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 office of FINRA. 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 publicly available. All
submissions should refer to File
Number SR–FINRA–2009–043 and
should be submitted on or before July
21, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–15468 Filed 6–30–09; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF STATE
Electronic Comments
[Public Notice 6687]
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–FINRA–2009–043 on the
subject line.
Bureau of Political-Military Affairs:
Directorate of Defense Trade Controls;
Notifications to the Congress of
Proposed Commercial Export Licenses
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
11 15
12 17
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
Frm 00071
Fmt 4703
Sfmt 4703
SUMMARY: Notice is hereby given that
the Department of State has forwarded
the attached Notifications of Proposed
Export Licenses to the Congress on the
dates indicated on the attachments
pursuant to sections 36(c) and 36(d) and
in compliance with section 36(f) of the
13 17
E:\FR\FM\01JYN1.SGM
CFR 200.30–3(a)(12).
01JYN1
]]>Agencies
[Federal Register Volume 74, Number 125 (Wednesday, July 1, 2009)]
[Notices]
[Pages 31471-31472]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-15468]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60168; File No. SR-FINRA-2009-043]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of
Proposed Rule Change Relating to the Application of Transaction-Related
Charges for Trade Reporting to the OTC Reporting Facility
June 24, 2009.
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 June 17, 2009, 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 and
II below [sic], which Items have been prepared by FINRA. FINRA has
designated the proposed rule change as ``establishing or changing a
due, fee or other charge'' under Section 19(b)(3)(A)(ii) of the Act \3\
and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposal
effective upon receipt of this filing by the Commission. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
FINRA is proposing to amend FINRA Rule 7710 to clarify the
application of transaction-related charges for trade reporting to the
OTC Reporting Facility (``ORF'').
The text of the proposed rule change is available on FINRA's Web
site at https://www.finra.org, at the principal office of FINRA and at
the Commission's Public Reference Room.
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
The FINRA Rule 7700 Series, among other things, sets forth the
pricing schedule for the ORF, the OTC Bulletin Board, and the Trade
Reporting and Compliance Engine Services. On March 1, 2007, FINRA filed
a proposed rule change (SR-NASD-2007-018) for immediate effectiveness
that deleted certain fee provisions from the FINRA
[[Page 31472]]
Rule 7700 Series \5\ and amended certain other provisions.\6\ In that
filing, NASD Rule 7010(g) was renumbered as NASD Rule 7010, renamed,
and amended to apply only to the ORF.\7\ The amendments became
operative on March 5, 2007.\8\ As FINRA stated in the filing, the
amendments made to the rule language were not intended to modify any of
the charges relating to the ORF.
---------------------------------------------------------------------------
\5\ At the time of the rule filing, the FINRA Rule 7700 Series
was the NASD Rule 7000 Series. The NASD Rule 7000 Series was
renumbered as the FINRA Rule 7700 Series in 2008. See Securities
Exchange Act Release No. 58643 (September 25, 2008), 73 FR 57174
(October 1, 2008); see also FINRA Regulatory Notice 08-57 (October
2008).
\6\ See Securities Exchange Act Release No. 55538 (March 27,
2007), 72 FR 15924 (April 3, 2007) (Notice of Filing and Immediate
Effectiveness of SR-NASD-2007-018).
\7\ NASD Rule 7010 was later renumbered as FINRA Rule 7710. See
Securities Exchange Act Release No. 58643 (September 25, 2008), 73
FR 57174 (October 1, 2008).
\8\ See Securities Exchange Act Release No. 55538 (March 27,
2007), 72 FR 15924 (April 3, 2007) (Notice of Filing and Immediate
Effectiveness of SR-NASD-2007-018).
---------------------------------------------------------------------------
Although there was no intent to modify any charges in connection
with reporting transactions to the ORF, the rule language, as amended,
omits some securities from the rule because of the definition of ``OTC
Equity Security'' in FINRA Rule 6420. The previous rule, NASD Rule
7010(g), included a catch-all provision that applied a charge of
$0.029/side to the ``reporting of all other transactions not subject to
comparison.'' This language included, for example, PORTAL equity
securities, which are reported to the ORF pursuant to the PORTAL rules
in the FINRA Rule 6630 Series. The term ``OTC Equity Security,''
however, specifically excludes PORTAL securities and restricted
securities from the definition.\9\ Thus, by using the defined term
``OTC Equity Security,'' the rule was inadvertently amended to exclude
PORTAL equity securities from the scope of the rule.
---------------------------------------------------------------------------
\9\ See FINRA Rule 6420(c), (d).
---------------------------------------------------------------------------
The proposed rule change would delete the reference to ``OTC Equity
Security'' in FINRA Rule 7710 and clarify that the charge applies to
the reporting of transactions in any security, not just OTC Equity
Securities, to the ORF that are not subject to comparison through the
ORF.
FINRA has filed the proposed rule change for immediate
effectiveness. The effective date and the implementation date will be
the date of filing, June 17, 2009.
2. Statutory Basis
FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(5) of the Act,\10\ which requires, among
other things, that FINRA rules provide for the equitable allocation of
reasonable dues, fees and other charges among members and issuers and
other persons using any facility or system that FINRA operates or
controls. FINRA believes that the proposed rule change clarifies the
charges assessed with respect to transactions reported to the ORF and
correctly reflects FINRA's intent when amending the rule in SR-NASD-
2007-018.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78o-3(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
FINRA does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and paragraph (f)(2) of Rule 19b-4
thereunder.\12\ At any time within 60 days of the filing of the
proposed rule change, the Commission may summarily abrogate 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.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
IV. 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. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-FINRA-2009-043 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-FINRA-2009-043. 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 (https://www.sec.gov/rules/sro.shtml). 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 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 office of FINRA. 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 publicly available. All
submissions should refer to File Number SR-FINRA-2009-043 and should be
submitted on or before July 21, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-15468 Filed 6-30-09; 8:45 am]
BILLING CODE 8010-01-P
