Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving Proposed Rule Change To Adopt FINRA Rule 5160 (Disclosure of Price and Concessions in Selling Agreements) in the Consolidated FINRA Rulebook, 5157 [2010-1949]

Download as PDF Federal Register / Vol. 75, No. 20 / Monday, February 1, 2010 / Notices lack of current and accurate information concerning the securities of New Paradigm Software Corp. (n/k/a Brunton Vineyards Holdings, Inc.) because it has not filed any periodic reports since the period ended June 30, 2001. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Polymer Research Corp. of America because it has not filed any periodic reports since the period ended September 30, 2003. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Shopnet.Com, Inc. because it has not filed any periodic reports since the period ended June 30, 2003. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the abovelisted companies is suspended for the period from 9:30 a.m. EST on January 28, 2010, through 11:59 p.m. EST on February 10, 2010. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 2010–2123 Filed 1–28–10; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61417; File No. SR–FINRA– 2009–086] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving Proposed Rule Change To Adopt FINRA Rule 5160 (Disclosure of Price and Concessions in Selling Agreements) in the Consolidated FINRA Rulebook jlentini on DSKJ8SOYB1PROD with NOTICES January 25, 2010. On December 2, 2009, 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’’), 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 adopt NASD Rule 2770 (Disclosure of Price in Selling 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Nov<24>2008 18:35 Jan 29, 2010 Jkt 220001 Agreements) as FINRA Rule 5160 in the consolidated FINRA rulebook without material change. The proposed rule change was published for comment in the Federal Register on December 22, 2009.3 The Commission received no comments on the proposal. This order approves the proposed rule change. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities association.4 In particular, the Commission finds that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Act,5 which requires, among other things, that FINRA rules be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. The Commission believes that the proposed rule change is appropriate to assure the integrity of the public offering process. The Commission notes that new FINRA Rule 5160 will continue to require that selling syndicate agreements or selling group agreements 6 set forth the price at which securities are to be sold to the public or the formula by which such price can be ascertained and state clearly to whom and under what circumstances concessions, if any, may be allowed. The Commission also notes that FINRA is adopting NASD Rule 2770 into the consolidated FINRA rulebook as FINRA Rule 5160 with a new title, but without material change. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,7 that the proposed rule change (SR–FINRA– 2009–086) be, and it hereby is, approved. 3 See Securities Exchange Act Release No. 61171 (December 15, 2009), 74 FR 68081 (‘‘Notice’’). 4 In approving this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition and capital formation. See 15 U.S.C. 78c(f). 5 15 U.S.C. 78o–3(b)(6). 6 In the Notice, FINRA noted that the terms ‘‘selling group’’ and ‘‘selling syndicate’’ are defined in NASD Rules 0120(p) and (q), respectively. FINRA also represented that other than to reflect the new conventions of the consolidated FINRA rulebook, FINRA does not propose to alter these two definitions, which will be addressed later in the rulebook consolidation process. 7 15 U.S.C. 78s(b)(2). PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 5157 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–1949 Filed 1–29–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61419; File No. SR–BATS– 2009–031] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, To Establish Rules Governing the Trading of Options on the BATS Options Exchange January 26, 2010. I. Introduction On November 10, 2009, BATS Exchange, Inc. (‘‘Exchange’’ or ‘‘BATS’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 to adopt rules governing the trading of options on the BATS Options Exchange Market (‘‘BATS Options Exchange’’ or ‘‘BATS Options’’), which will be an options trading facility of the Exchange. The proposed rule change was published for comment in the Federal Register on December 8, 2009.3 On January 21, 2010, BATS filed Amendment 1 to the proposed rule change.4 The Commission received no 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 61097 (December 2, 2009), 74 FR 64788 (‘‘Notice’’). 4 In Amendment No. 1, the Exchange: (1) Clarified the Form 19b–4 discussion regarding establishing strike prices for Quarterly Options Series to conform to the proposed rule text; (2) clarified in its Form 19b–4 that the Exchange will not include options classes in its pilot program for quoting certain options in one-cent increments when the issuer of the underlying security is subject to an announced merger or is in the process of being acquired by another company or is in bankruptcy and that, for purposes of assessing average daily volume, the Exchange will use Options Clearing Corporation data; (3) amended its Form 19b–4 and rules relating to that pilot program to provide for the quoting of all options on IWM and SPY in onecent increments; (4) included in its Exhibit 5 an updated table of contents; (5) made technical changes to defined terms in BATS Rule 2.12(d) and proposed BATS Options Rule 21.1(d)(6) to conform to the terms as defined in proposed BATS Options Rule 16.1(a); (6) deleted proposed BATS Option Rule 16.2(d); (7) added references to ‘‘BATS 1 15 E:\FR\FM\01FEN1.SGM Continued 01FEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 75, Number 20 (Monday, February 1, 2010)]
[Notices]
[Page 5157]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-1949]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61417; File No. SR-FINRA-2009-086]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Order Approving Proposed Rule Change To Adopt FINRA 
Rule 5160 (Disclosure of Price and Concessions in Selling Agreements) 
in the Consolidated FINRA Rulebook

January 25, 2010.
    On December 2, 2009, 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''), 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 adopt NASD Rule 2770 (Disclosure of Price in 
Selling Agreements) as FINRA Rule 5160 in the consolidated FINRA 
rulebook without material change. The proposed rule change was 
published for comment in the Federal Register on December 22, 2009.\3\ 
The Commission received no comments on the proposal. This order 
approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 61171 (December 15, 
2009), 74 FR 68081 (``Notice'').
---------------------------------------------------------------------------

    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities association.\4\ In 
particular, the Commission finds that the proposed rule change is 
consistent with the provisions of Section 15A(b)(6) of the Act,\5\ 
which requires, among other things, that FINRA rules be designed to 
prevent fraudulent and manipulative acts and practices, to promote just 
and equitable principles of trade, and, in general, to protect 
investors and the public interest.
---------------------------------------------------------------------------

    \4\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition and capital 
formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78o-3(b)(6).
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    The Commission believes that the proposed rule change is 
appropriate to assure the integrity of the public offering process. The 
Commission notes that new FINRA Rule 5160 will continue to require that 
selling syndicate agreements or selling group agreements \6\ set forth 
the price at which securities are to be sold to the public or the 
formula by which such price can be ascertained and state clearly to 
whom and under what circumstances concessions, if any, may be allowed. 
The Commission also notes that FINRA is adopting NASD Rule 2770 into 
the consolidated FINRA rulebook as FINRA Rule 5160 with a new title, 
but without material change.
---------------------------------------------------------------------------

    \6\ In the Notice, FINRA noted that the terms ``selling group'' 
and ``selling syndicate'' are defined in NASD Rules 0120(p) and (q), 
respectively. FINRA also represented that other than to reflect the 
new conventions of the consolidated FINRA rulebook, FINRA does not 
propose to alter these two definitions, which will be addressed 
later in the rulebook consolidation process.
---------------------------------------------------------------------------

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-FINRA-2009-086) be, and it 
hereby is, approved.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-1949 Filed 1-29-10; 8:45 am]
BILLING CODE 8011-01-P

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