Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt FINRA Rule 4160 (Verification of Assets), 48731-48733 [2010-19750]

Download as PDF Federal Register / Vol. 75, No. 154 / Wednesday, August 11, 2010 / Notices (2) The institutional change occurring within STEM departments regarding the preparation of future mathematics and science teachers; (3) The relationships between characteristics of the Noyce Program, types of Noyce recipients, characteristics of the schools in which Noyce recipients teach, and recipients’ plans to teach in high-need schools and to pursue leadership roles; and (4) The impacts of the Noyce program on teacher recruitment and retention and on teacher effectiveness. The methods of data collection will include both primary and secondary data collections. Primary data collection will include surveys and telephone interviews; secondary data sources include open sources, records at NSF and grantee institutions, and state departments of education and teacher retirement funds. There is a bounded (or limited) number of respondents within the general public who will be affected by this research, including current and former Noyce grantees and associated faculty, STEM majors, postbaccalaureates, or professionals eligible who are supported by Noyce funding, and K–12 principals and district administrators. NSF will use the Noyce program evaluation data and analyses to respond to requests from Committees of Visitors (COV), Congress and the Office of Management and Budget, particularly as related to the Government Performance and Results Act (GPRA) and the Program Assessment Rating Tool (PART) or its replacement. NSF will also use the program evaluation to share the broader impacts of the Noyce program with the general public. Respondents: Individuals, Federal Government, State, Local or Tribal Government and not-for-profit institutions. Estimated Number of Respondents: 5000. Burden on the Public: 2400 hours. Dated: August 6, 2010. Suzanne H. Plimpton, Reports Clearance Officer, National Science Foundation. [FR Doc. 2010–19842 Filed 8–10–10; 8:45 am] BILLING CODE 7555–01–P sroberts on DSKD5P82C1PROD with NOTICES NATIONAL SCIENCE FOUNDATION Notice of Availability for Public Comment on the Draft Joint Subcommittee on Ocean Science and Technology—Interagency Ocean Observation Committee Public-Private Use Policy AGENCY: National Science Foundation. VerDate Mar<15>2010 16:52 Aug 10, 2010 Jkt 220001 Notice of availability; request for comments. ACTION: The NOAA Integrated Ocean Observing System (IOOS) Program publishes this notice on behalf of the Joint Subcommittee on Ocean Science and Technology—Interagency Ocean Observation Committee (JSOST–IOOC) to announce a 60-day public comment period for the Public-Private Use Policy mandated by the Integrated Coastal and Ocean Observation System Act of 2009. This policy defines the process the IOOC will use to make decisions about the roles of the federal government, the States, regional information coordination entities, the academic community and the private sector in providing IOOS environmental information, products, technologies and services to end-user communities. DATES: Written, faxed or emailed comments must be received no later than 5 p.m. eastern standard time on October 12, 2010. ADDRESSES: The JSOST–IOOC PublicPrivate Use Policy is available for review at Web site URL: https:// www.iooc.us. For the public unable to access the internet, printed copies can be requested by contacting the IOOC Support Office at the address below. The public is encouraged to submit comments electronically to iooc@oceanleadership.org. If you are unable to access the internet, comments may be submitted via fax or regular mail. Faxed comments should be sent to 202–332–8887 with Attn: IOOC Support Office. Comments may be submitted in writing to the Consortium for Ocean Leadership, Attention: IOOC Support Office, 1201 New York Avenue, NW., 4th Floor, Washington, DC 20005 FOR FURTHER INFORMATION CONTACT: For further information about this notice, please contact the IOOC Support Office, telephone: 202–787–1622; E-mail: iooc@oceanleadership.org. SUPPLEMENTARY INFORMATION: On 30 March 2009, President Barack Obama signed into law the Integrated Coastal and Ocean Observation Act of 2009. Among the requirements in the Act is a directive to the National Ocean Research Leadership Council (NORLC) to develop a Public-Private Use Policy. In April 2007 the NORLC jointly agreed with the Committee on Ocean Policy supporting body, the Interagency Committee on Ocean Science and Resource Management Integration (ICOSRMI), to allow future actions taken by ICOSRMI to be deemed actions of the NORLC for the purpose of maintaining interagency progress. The IOOC, the federal interagency group established to SUMMARY: PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 48731 lead the interagency planning and coordination of ocean observing activities including IOOS, is represented by seventeen federal agencies, with NOAA identified as the lead federal agency by the Administration. As defined in the IOOC Charter, the purpose of the IOOC is to advise and assist the JSOST on matters relating to all aspects of ocean observations within the scope of an end-to-end concept of ocean observations. The JSOST is under the governance of the NORLC and, by the April 2007 agreement, the ICOSRMI. Dated: August 5, 2010. Suzanne H. Plimpton, Reports Clearance Officer, National Science Foundation. [FR Doc. 2010–19762 Filed 8–10–10; 8:45 am] BILLING CODE 7555–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62655; File No. SR–FINRA– 2010–042] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt FINRA Rule 4160 (Verification of Assets) August 5, 2010. 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 August 4, 2010, 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, which Items have been 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 adopt FINRA Rule 4160 (Verification of Assets). The proposed rule provides that a member, when notified by FINRA, may not continue to custody or retain record ownership of assets, at a non-member financial institution, which, upon FINRA staff’s request, fails promptly to provide FINRA with written verification of assets maintained by the member at 1 15 2 17 E:\FR\FM\11AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 11AUN1 48732 Federal Register / Vol. 75, No. 154 / Wednesday, August 11, 2010 / Notices such financial institution. The proposed rule change also would add a supplementary material section to the new rule. The text of the proposed rule change is below. Proposed new language is underlined. * * * * * 4000. FINANCIAL AND OPERATIONAL RULES 4100. FINANCIAL CONDITION * * * * * 4160. Verification of Assets A member, when notified by FINRA, may not continue to custody or retain record ownership of assets, whether such assets are proprietary or customer assets, at a financial institution that is not a member of FINRA, which, upon FINRA staff’s request, fails promptly to provide FINRA with written verification of assets maintained by the member at such financial institution. • • • Supplementary Material: —————— .01 Asset Transfers. Any member required to transfer its proprietary and/ or customer assets pursuant to this Rule shall effect such transfer within a reasonable period of time. .02 Member Obligations Under SEA Rule 15c3–3. Nothing in this Rule shall be construed as altering in any manner a member’s obligations under SEA Rule 15c3–3. * * * * * 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. sroberts on DSKD5P82C1PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose FINRA is proposing a rule designed to ensure that FINRA can independently verify assets maintained by a member at a non-member financial institution. While FINRA currently may request such independent verification, it generally cannot compel a financial institution that is not a member to VerDate Mar<15>2010 16:52 Aug 10, 2010 Jkt 220001 comply with the request because FINRA’s rules apply only to members. This inability to obtain such information directly from a non-member financial institution may limit FINRA’s ability to effectively detect fraud and protect investors. To address these jurisdictional constraints, FINRA is proposing a rule providing that a member, when notified by FINRA, may not continue to custody or retain record ownership of assets, whether such assets are proprietary or customer assets, at a non-member financial institution, which, upon FINRA staff’s request, fails promptly 3 to provide FINRA with written verification of assets maintained by the member at such financial institution. FINRA believes there would be significant incentive on the part of non-member financial institutions to promptly comply with staff requests for asset verification in order to continue to retain members’ proprietary or customer assets. Similarly, members would seek to assure that non-member financial institutions maintaining their proprietary or customer assets comply with such requests to avoid having to transfer assets to another institution. At this time, FINRA is not proposing to require a member to enter into a written contract with a non-member financial institution maintaining its proprietary or customer assets that would obligate the institution to comply with FINRA staff’s requests for verification; however, FINRA would strongly encourage a member to enter into such a contract. A non-member financial institution that has a written contractual obligation with a member but still refuses to provide FINRA with prompt written verification may be in breach of contract, and the member could seek appropriate remedies against the institution. The proposed rule, however, would preclude the member from continuing to maintain assets at that financial institution and require the member to transfer the assets to another financial institution. In this regard, FINRA is mindful of the potential challenges of an asset transfer, and is proposing to adopt Supplementary Material .01 (Asset Transfers), providing that any member required to transfer its proprietary and/ or customer assets pursuant to the proposed rule shall effect such transfer within a reasonable period of time. Additionally, FINRA is proposing to adopt Supplementary Material .02 (Member Obligations Under SEA Rule 15c3–3) to clarify that nothing in the 3 The proposed rule does not define the term ‘‘promptly,’’ which would be assessed based on the particular facts and circumstances. PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 proposed rule shall be construed as altering in any manner a member’s obligations under SEA Rule 15c3–3. FINRA will announce the effective date of the proposed rule change in a Regulatory Notice to be published no later than 60 days following Commission approval. The effective date will be no later than 30 days following publication of the Regulatory Notice announcing Commission approval. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Act,4 which requires, among other things, that FINRA rules must 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. FINRA believes that the proposed rule change is consistent with the provisions of the Act noted above in that independent verification will further strengthen FINRA’s ability to effectively detect fraud and protect investors. 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 Within 45 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and 4 15 E:\FR\FM\11AUN1.SGM U.S.C. 78o–3(b)(6). 11AUN1 Federal Register / Vol. 75, No. 154 / Wednesday, August 11, 2010 / Notices Electronic Comments the places specified in Item IV below. The self-regulatory organization 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 BILLING CODE 8010–01–P • 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–2010–042 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. sroberts on DSKD5P82C1PROD with NOTICES For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.5 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–19750 Filed 8–10–10; 8:45 am] 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 [Release No. 34–62641; File No. SR–EDGA– 2010–10] Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Amendments to the EDGA Exchange, Inc. Fee Schedule August 4, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the All submissions should refer to File ‘‘Act’’),1 and Rule 19b–4 thereunder,2 Number SR–FINRA–2010–042. This file notice is hereby given that on July 30, number should be included on the 2010, the EDGA Exchange, Inc. (the subject line if e-mail is used. To help the ‘‘Exchange’’ or the ‘‘EDGA’’) filed with Commission process and review your the Securities and Exchange comments more efficiently, please use Commission (‘‘Commission’’) the only one method. The Commission will proposed rule change as described in post all comments on the Commission’s Items I and II below, which items have Internet Web site (https://www.sec.gov/ been prepared by the self-regulatory rules/sro.shtml). Copies of the organization. The Commission is publishing this notice to solicit submission, all subsequent comments on the proposed rule change amendments, all written statements from interested persons. with respect to the proposed rule change that are filed with the I. Self-Regulatory Organization’s Commission, and all written Statement of the Terms of Substance of communications relating to the the Proposed Rule Change proposed rule change between the The Exchange proposes to amend its Commission and any person, other than fees and rebates applicable to Members 3 those that may be withheld from the of the Exchange pursuant to EDGA Rule public in accordance with the 15.1(a) and (c) by making several provisions of 5 U.S.C. 552, will be technical amendments to its fee available for Web site viewing and schedule. printing in the Commission’s Public All of the changes described herein Reference Room, 100 F Street, NE., are applicable to EDGA Members. The Washington, DC 20549, on official text of the proposed rule change is available on the Exchange’s Internet business days between the hours of 10 Web site at https://www.directedge.com. a.m. and 3 p.m. Copies of such filing also will be available for inspection and II. Self-Regulatory Organization’s copying at the principal office of Statement of the Purpose of, and FINRA. All comments received will be Statutory Basis for, the Proposed Rule posted without change; the Commission Change does not edit personal identifying In its filing with the Commission, the information from submissions. self-regulatory organization included You should submit only information statements concerning the purpose of, that you wish to make available and basis for, the proposed rule change publicly. All submissions should refer and discussed any comments it received to File Number SR–FINRA–2010–042 on the proposed rule change. The text and should be submitted on or before of these statements may be examined at September 1, 2010. 5 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 A Member is any registered broker or dealer that has been admitted to membership in the Exchange. 1 15 VerDate Mar<15>2010 16:52 Aug 10, 2010 48733 Jkt 220001 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 1. Purpose The Exchange proposes to make several technical amendments to its fee schedule. First, it proposes to move the text in footnote 1 that states that ‘‘upon a Member’s request, EDGA will aggregate share volume calculations for wholly owned affiliates on a prospective basis’’ to new footnote ‘‘a.’’ Then, the Exchange proposes adding a reference to footnote ‘‘a’’ next to all numbered footnotes (except footnote 4 since it states that it is ‘‘intentionally omitted.’’) This amendment clarifies that the ability of Members to request aggregation and the Exchange to aggregate share volume calculations for wholly owned affiliates on a prospective basis applies across all fee and volume threshold calculations and not just to the language found in footnote 1. The Exchange proposes to delete the reference to footnote 4 found on Flags E and 5 since footnote 4 is ‘‘intentionally omitted’’ and leaving the reference intact leads to confusion by Members. EDGA Exchange proposes to implement these amendments to the Exchange fee schedule on August 1, 2010. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,4 in general, and furthers the objectives of Section 6(b)(4),5 in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its members and other persons using its facilities. The Exchange notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive. The proposed rule change reflects a competitive pricing structure designed to incent market participants to direct their order flow to the Exchange. Finally, the Exchange believes that the proposed rates are equitable in that they apply uniformly to all Members. The Exchange believes the fees and credits remain competitive with those charged by other venues and 4 15 5 15 E:\FR\FM\11AUN1.SGM U.S.C. 78f. U.S.C. 78f(b)(4). 11AUN1

Agencies

[Federal Register Volume 75, Number 154 (Wednesday, August 11, 2010)]
[Notices]
[Pages 48731-48733]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-19750]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62655; File No. SR-FINRA-2010-042]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt 
FINRA Rule 4160 (Verification of Assets)

August 5, 2010.
    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 August 4, 2010, 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, which Items have been prepared by FINRA. 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    FINRA is proposing to adopt FINRA Rule 4160 (Verification of 
Assets). The proposed rule provides that a member, when notified by 
FINRA, may not continue to custody or retain record ownership of 
assets, at a non-member financial institution, which, upon FINRA 
staff's request, fails promptly to provide FINRA with written 
verification of assets maintained by the member at

[[Page 48732]]

such financial institution. The proposed rule change also would add a 
supplementary material section to the new rule.
    The text of the proposed rule change is below. Proposed new 
language is underlined.
* * * * *

4000. FINANCIAL AND OPERATIONAL RULES

4100. FINANCIAL CONDITION

* * * * *

4160. Verification of Assets

    A member, when notified by FINRA, may not continue to custody or 
retain record ownership of assets, whether such assets are proprietary 
or customer assets, at a financial institution that is not a member of 
FINRA, which, upon FINRA staff's request, fails promptly to provide 
FINRA with written verification of assets maintained by the member at 
such financial institution.
       Supplementary Material: ------------
    .01 Asset Transfers. Any member required to transfer its 
proprietary and/or customer assets pursuant to this Rule shall effect 
such transfer within a reasonable period of time.
    .02 Member Obligations Under SEA Rule 15c3-3. Nothing in this Rule 
shall be construed as altering in any manner a member's obligations 
under SEA Rule 15c3-3.
* * * * *

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
    FINRA is proposing a rule designed to ensure that FINRA can 
independently verify assets maintained by a member at a non-member 
financial institution. While FINRA currently may request such 
independent verification, it generally cannot compel a financial 
institution that is not a member to comply with the request because 
FINRA's rules apply only to members. This inability to obtain such 
information directly from a non-member financial institution may limit 
FINRA's ability to effectively detect fraud and protect investors.
    To address these jurisdictional constraints, FINRA is proposing a 
rule providing that a member, when notified by FINRA, may not continue 
to custody or retain record ownership of assets, whether such assets 
are proprietary or customer assets, at a non-member financial 
institution, which, upon FINRA staff's request, fails promptly \3\ to 
provide FINRA with written verification of assets maintained by the 
member at such financial institution. FINRA believes there would be 
significant incentive on the part of non-member financial institutions 
to promptly comply with staff requests for asset verification in order 
to continue to retain members' proprietary or customer assets. 
Similarly, members would seek to assure that non-member financial 
institutions maintaining their proprietary or customer assets comply 
with such requests to avoid having to transfer assets to another 
institution. At this time, FINRA is not proposing to require a member 
to enter into a written contract with a non-member financial 
institution maintaining its proprietary or customer assets that would 
obligate the institution to comply with FINRA staff's requests for 
verification; however, FINRA would strongly encourage a member to enter 
into such a contract. A non-member financial institution that has a 
written contractual obligation with a member but still refuses to 
provide FINRA with prompt written verification may be in breach of 
contract, and the member could seek appropriate remedies against the 
institution. The proposed rule, however, would preclude the member from 
continuing to maintain assets at that financial institution and require 
the member to transfer the assets to another financial institution. In 
this regard, FINRA is mindful of the potential challenges of an asset 
transfer, and is proposing to adopt Supplementary Material .01 (Asset 
Transfers), providing that any member required to transfer its 
proprietary and/or customer assets pursuant to the proposed rule shall 
effect such transfer within a reasonable period of time.
---------------------------------------------------------------------------

    \3\ The proposed rule does not define the term ``promptly,'' 
which would be assessed based on the particular facts and 
circumstances.
---------------------------------------------------------------------------

    Additionally, FINRA is proposing to adopt Supplementary Material 
.02 (Member Obligations Under SEA Rule 15c3-3) to clarify that nothing 
in the proposed rule shall be construed as altering in any manner a 
member's obligations under SEA Rule 15c3-3.
    FINRA will announce the effective date of the proposed rule change 
in a Regulatory Notice to be published no later than 60 days following 
Commission approval. The effective date will be no later than 30 days 
following publication of the Regulatory Notice announcing Commission 
approval.
2. Statutory Basis
    FINRA believes that the proposed rule change is consistent with the 
provisions of Section 15A(b)(6) of the Act,\4\ which requires, among 
other things, that FINRA rules must 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. FINRA believes that the proposed rule change is 
consistent with the provisions of the Act noted above in that 
independent verification will further strengthen FINRA's ability to 
effectively detect fraud and protect investors.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------

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

    Within 45 days of the date of publication of this notice in the 
Federal Register or within such longer period (i) as the Commission may 
designate up to 90 days of such date if it finds such longer period to 
be appropriate and publishes its reasons for so finding or (ii) as to 
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove such proposed rule change, or
    (B) Institute proceedings to determine whether the proposed rule 
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and

[[Page 48733]]

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-2010-042 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-2010-042. 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 Web site 
viewing and printing 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 available 
publicly. All submissions should refer to File Number SR-FINRA-2010-042 
and should be submitted on or before September 1, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-19750 Filed 8-10-10; 8:45 am]
BILLING CODE 8010-01-P
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