Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change Relating to Promissory Note Proceedings, 9838-9840 [2011-3799]
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Federal Register / Vol. 76, No. 35 / Tuesday, February 22, 2011 / Notices
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Authority: 5 U.S.C. 3301 and 3302; E.O.
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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.
U.S. Office of Personnel Management.
John Berry,
Director.
[FR Doc. 2011–3794 Filed 2–18–11; 8:45 am]
BILLING CODE 6325–39–P
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63909; File No. SR–FINRA–
2011–005]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing of
Proposed Rule Change Relating to
Promissory Note Proceedings
mstockstill on DSKH9S0YB1PROD with NOTICES
February 15, 2011.
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 February
4, 2011, the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’)
filed with the Securities and Exchange
1 15
2 17
FINRA is proposing to amend Rule
13806 of the Code of Arbitration
Procedure for Industry Disputes
(‘‘Industry Code’’) to provide that FINRA
will appoint a chair-qualified public
arbitrator to a panel resolving a
promissory note dispute instead of
appointing a chair-qualified public
arbitrator also qualified to resolve a
statutory discrimination claim.
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.
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Mar<15>2010
16:51 Feb 18, 2011
Jkt 223001
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
Effective date
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. 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
In 2009, FINRA implemented new
procedures to expedite the
administration of cases that solely
involve a broker-dealer’s claim that an
associated person failed to pay money
owed on a promissory note.3 Under
3 See Securities Exchange Act Rel. No. 60132
(June 17, 2009), 74 FR 30191 (June 24, 2009) (File
No. SR–FINRA–2009–015). FINRA announced
implementation of New Rule 13806 (Promissory
E:\FR\FM\22FEN1.SGM
22FEN1
Federal Register / Vol. 76, No. 35 / Tuesday, February 22, 2011 / Notices
mstockstill on DSKH9S0YB1PROD with NOTICES
these procedures, FINRA appoints a
single chair-qualified public arbitrator
from the roster of arbitrators approved
to hear statutory discrimination claims
(a statutory discrimination qualified
arbitrator) 4 to resolve the dispute.5
These specially qualified arbitrators are
public chair-qualified arbitrators who
also are attorneys familiar with
employment law and have at least ten
years of legal experience. In addition,
they may not have represented
primarily the views of employers or of
employees within the last five years.
FINRA proposed using statutory
discrimination qualified arbitrators
because of the depth of their experience
and their familiarity with employment
law. At the time that FINRA filed the
proposed rule change, these arbitrators
were underutilized at the forum.
Since implementing the new
procedures, FINRA has found that
promissory note cases do not require
extensive experience or depth of
knowledge (or the limitation on
representation of employers or of
employees within the last five years). In
a majority of completed cases,
arbitrators decided the case on the
pleadings and the respondent broker did
not appear.6 Experience with the new
procedures leads FINRA to propose
amending the Industry Code to provide
that FINRA will appoint a chairqualified public arbitrator to a panel
resolving a promissory note dispute
instead of appointing a statutory
discrimination qualified arbitrator.
Chair-qualified arbitrators have
completed chair training and are
attorneys who have served through
award on at least two cases, or, if not
attorneys, are arbitrators who have
served through award on at least three
cases.7
In addition, the number of promissory
note cases has more than doubled in the
Note Proceedings) in Regulatory Notice 09–48. The
effective date was September 14, 2009.
4 See Rule 13802(c)(3).
5 Under Rule 13806, if an associated person does
not file an answer, or files an answer but does not
assert any counterclaims or third party claims,
regardless of the amount in dispute, a single
statutory discrimination qualified arbitrator decides
the case. If an associated person files a counterclaim
or third party claim, FINRA bases panel
composition on the amount of the counterclaim or
third party claim. For counterclaims and third party
claims that are not more than $100,000, FINRA
appoints a single statutory discrimination qualified
arbitrator. For counterclaims and third party claims
of more than $100,000, FINRA appoints a threearbitrator panel comprised of a statutory
discrimination qualified arbitrator, a public
arbitrator, and a non-public arbitrator.
6 Of the first 175 promissory note cases
completed, arbitrators decided the case on the
pleadings 76 percent of the time (unless the case
concluded by settlement or some other means).
7 See Rule 12400(c).
VerDate Mar<15>2010
16:51 Feb 18, 2011
Jkt 223001
past two years. As a result of this
substantial increase, it is becoming more
difficult to appoint panels solely with
statutory discrimination qualified
arbitrators to these cases. Under the
proposed rule change, the number of
arbitrators available for appointment in
promissory note cases would increase
significantly. The proposed rule change
would ensure that FINRA has a
sufficient number of qualified
arbitrators readily available to resolve
these matters.
FINRA proposes to 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 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,8 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
because it would ensure that FINRA has
a sufficient number of qualified
arbitrators readily available to resolve
promissory note cases.
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
8 15
PO 00000
U.S.C. 78o–3(b)(6).
Frm 00100
Fmt 4703
Sfmt 4703
9839
organization consents, the Commission
shall:
(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
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 rulecomments@sec.gov. Please include File
Number SR–FINRA–2011–005 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–2011–005. 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–2011–005 and
E:\FR\FM\22FEN1.SGM
22FEN1
9840
Federal Register / Vol. 76, No. 35 / Tuesday, February 22, 2011 / Notices
should be submitted on or before March
15, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–3799 Filed 2–18–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63910; File No. SR–FINRA–
2011–006]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing of
Proposed Rule Change Relating to
Motions in Arbitration
February 15, 2011.
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 February
4, 2011, the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’)
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.
mstockstill on DSKH9S0YB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
FINRA is proposing to amend FINRA
Rules 12206, 12503, and 12504 of the
Code of Arbitration Procedure for
Customer Disputes, and Rules 13206,
13503, and 13504 of the Code of
Arbitration Procedure for Industry
Disputes (collectively, ‘‘Codes’’), to
provide moving parties with a five-day
period to reply to responses to motions.
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. The text of these
9 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Mar<15>2010
16:51 Feb 18, 2011
Jkt 223001
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 Codes specify time periods for a
party to respond to a motion,3 including
a motion to dismiss.4 They do not
expressly provide time periods for the
party that made the original motion (the
‘‘moving party’’) to reply to a response,
which happens on occasion. FINRA’s
practice has been to forward the reply
to the arbitrators, even when staff
already have sent the motion and
response to the arbitrators. Since the
Codes do not prescribe a time period for
replying to responses to motions, there
have been instances where arbitrators
reviewed the motion papers and even
ruled on a motion before receiving a
reply, causing confusion and wasting
time.
FINRA is proposing to amend Rules
12206 and 13206 (Time Limits), Rules
12503 and 13503 (Motions), and Rules
12504 and 13504 (Motions to Dismiss),
to provide a moving party with a fiveday period to reply to a response to a
motion. The proposed amendments
would codify FINRA’s practice relating
to replies to responses to motions and
make it transparent. The proposal
would provide parties with an
opportunity to brief fully the issues in
dispute, and ensure that arbitrators have
all of the motion papers before issuing
a final decision on the motion.
FINRA considered whether codifying
a reply period might encourage
additional replies to responses to
motions, or cause significant delays in
the arbitration proceeding. FINRA
believes that a five-day period for
replies gives moving parties sufficient
time to react to responses to motions
without causing significant delays to
proceedings. Currently, FINRA Rules
12512 and 13512 (Subpoenas) provide
moving parties with a 10-day period in
which to reply to opposing parties’
objections to motions. FINRA has not
3 Rules 12503(b) and 13503(b) (Responding to
Motions) provide, generally, that parties have 10
days from the receipt of a written motion to respond
to the motion.
4 Rules 12206(b) and 13206(b) (Dismissal under
Rule) provide that parties have 30 days to respond
to motions. Rules 12504(a) and 13504(a) (Motions
to Dismiss Prior to Conclusion of Case in Chief)
provide that parties have 45 days to respond to
motions.
PO 00000
Frm 00101
Fmt 4703
Sfmt 4703
experienced any increase in replies
related to subpoenas because of these
rules and the 10-day reply period has
not caused significant delays.
Further, on June 21, 2010, FINRA
revised its practice relating to responses
to motions and published a Notice to
Parties on its Web site stating that
moving parties have five calendar days
from receipt of a response to a motion
to submit a reply to the response.5 After
the five-day period, FINRA forwards the
motion, any response to the motion, and
any reply to the panel at the same time.
If FINRA receives a reply after the fiveday period expires, staff forwards the
reply to the panel upon its receipt.
However, FINRA staff does not delay
sending the motion, response to the
motion, and reply to the panel after the
five-day period expires, and the panel
may issue a decision upon receipt of
those documents.
Based on our experience with the
subpoena rules and our revised practice
relating to replies to responses, FINRA
does not expect the proposal to add a
five-day period for replies to responses
to motions to result in undue delays.
FINRA proposes to 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 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,6 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 will assist parties
in arbitrations by codifying FINRA’s
practice relating to replies to responses
to motions. The proposed rule change
would ensure that parties have an
opportunity to brief fully the issues in
dispute, and that arbitrators have all of
the motion papers before issuing a final
decision on the motion.
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
5 See https://www.finra.org/ArbitrationMediation/
Parties/ArbitrationProcess/NoticesToParties/
P121652.
6 15 U.S.C. 78o–3(b)(6).
E:\FR\FM\22FEN1.SGM
22FEN1
]]>Agencies
[Federal Register Volume 76, Number 35 (Tuesday, February 22, 2011)]
[Notices]
[Pages 9838-9840]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-3799]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63909; File No. SR-FINRA-2011-005]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing of Proposed Rule Change Relating to
Promissory Note Proceedings
February 15, 2011.
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 February 4, 2011, the Financial Industry Regulatory Authority, Inc.
(``FINRA'') 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.
---------------------------------------------------------------------------
\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 amend Rule 13806 of the Code of Arbitration
Procedure for Industry Disputes (``Industry Code'') to provide that
FINRA will appoint a chair-qualified public arbitrator to a panel
resolving a promissory note dispute instead of appointing a chair-
qualified public arbitrator also qualified to resolve a statutory
discrimination claim.
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. 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
In 2009, FINRA implemented new procedures to expedite the
administration of cases that solely involve a broker-dealer's claim
that an associated person failed to pay money owed on a promissory
note.\3\ Under
[[Page 9839]]
these procedures, FINRA appoints a single chair-qualified public
arbitrator from the roster of arbitrators approved to hear statutory
discrimination claims (a statutory discrimination qualified arbitrator)
\4\ to resolve the dispute.\5\ These specially qualified arbitrators
are public chair-qualified arbitrators who also are attorneys familiar
with employment law and have at least ten years of legal experience. In
addition, they may not have represented primarily the views of
employers or of employees within the last five years. FINRA proposed
using statutory discrimination qualified arbitrators because of the
depth of their experience and their familiarity with employment law. At
the time that FINRA filed the proposed rule change, these arbitrators
were underutilized at the forum.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Rel. No. 60132 (June 17, 2009),
74 FR 30191 (June 24, 2009) (File No. SR-FINRA-2009-015). FINRA
announced implementation of New Rule 13806 (Promissory Note
Proceedings) in Regulatory Notice 09-48. The effective date was
September 14, 2009.
\4\ See Rule 13802(c)(3).
\5\ Under Rule 13806, if an associated person does not file an
answer, or files an answer but does not assert any counterclaims or
third party claims, regardless of the amount in dispute, a single
statutory discrimination qualified arbitrator decides the case. If
an associated person files a counterclaim or third party claim,
FINRA bases panel composition on the amount of the counterclaim or
third party claim. For counterclaims and third party claims that are
not more than $100,000, FINRA appoints a single statutory
discrimination qualified arbitrator. For counterclaims and third
party claims of more than $100,000, FINRA appoints a three-
arbitrator panel comprised of a statutory discrimination qualified
arbitrator, a public arbitrator, and a non-public arbitrator.
---------------------------------------------------------------------------
Since implementing the new procedures, FINRA has found that
promissory note cases do not require extensive experience or depth of
knowledge (or the limitation on representation of employers or of
employees within the last five years). In a majority of completed
cases, arbitrators decided the case on the pleadings and the respondent
broker did not appear.\6\ Experience with the new procedures leads
FINRA to propose amending the Industry Code to provide that FINRA will
appoint a chair-qualified public arbitrator to a panel resolving a
promissory note dispute instead of appointing a statutory
discrimination qualified arbitrator. Chair-qualified arbitrators have
completed chair training and are attorneys who have served through
award on at least two cases, or, if not attorneys, are arbitrators who
have served through award on at least three cases.\7\
---------------------------------------------------------------------------
\6\ Of the first 175 promissory note cases completed,
arbitrators decided the case on the pleadings 76 percent of the time
(unless the case concluded by settlement or some other means).
\7\ See Rule 12400(c).
---------------------------------------------------------------------------
In addition, the number of promissory note cases has more than
doubled in the past two years. As a result of this substantial
increase, it is becoming more difficult to appoint panels solely with
statutory discrimination qualified arbitrators to these cases. Under
the proposed rule change, the number of arbitrators available for
appointment in promissory note cases would increase significantly. The
proposed rule change would ensure that FINRA has a sufficient number of
qualified arbitrators readily available to resolve these matters.
FINRA proposes to 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 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,\8\ 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 because it would
ensure that FINRA has a sufficient number of qualified arbitrators
readily available to resolve promissory note cases.
---------------------------------------------------------------------------
\8\ 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 shall:
(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
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-2011-005 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-2011-005. 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-2011-005
and
[[Page 9840]]
should be submitted on or before March 15, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Cathy H. Ahn,
Deputy Secretary.
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\9\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2011-3799 Filed 2-18-11; 8:45 am]
BILLING CODE 8011-01-P
