Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Eliminate Duplicative Filings Under FINRA Rule 9610(a), 11830-11832 [2011-4721]

Download as PDF 11830 Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose On June 22, 2010, the SEC approved, among other rules, new FINRA Rule 6450 (Restrictions on Access Fees).3 Rule 6450 provides that a firm may not impose, nor permit to be imposed, nonsubscriber access or post-transaction fees against its published quotation in any OTC Equity Security that exceed or accumulate to more than: • $0.003 per share, if the published quotation is priced equal to or greater than $1.00; or • The lesser of (a) 0.3% of the published quotation price on a per share basis or (b) 30% of the minimum pricing increment under Rule 6434 relevant to the display of the quotation on a per share basis if the published quotation is less than $1.00. FINRA is filing the proposed rule change to add Supplementary Material .01 (the ‘‘disclosure rule’’) to provide that a member must disclose on its Web site, in a clear and conspicuous manner, fees (and changes to fees) imposed against its published quotations as provided for in Rule 6450 at least three (3) business days in advance.4 Where a member makes multiple fee schedules available, the applicability of each schedule must be clear (e.g., volume discount tiers and rates). Members must maintain and preserve records of the fee schedules required to be made available pursuant to this disclosure rule for the period of time and accessibility specified in SEA Rule 17a–4(b) under the Exchange Act. FINRA has requested that the Commission approve the proposed rule change on an accelerated basis, so that it may become effective as soon as possible. The effective date of the proposed rule change will be two weeks after Commission approval. 2. Statutory Basis srobinson on DSKHWCL6B1PROD with NOTICES FINRA believes that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Exchange Act,5 which requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to 3 See Securities Exchange Act Release No. 62359, 75 FR 37488 (June 29, 2010) (Order Approving File No. SR–FINRA–2009–054). 4 For purposes of the first three business days of the disclosure rule’s operation, members would be in compliance with the advance notice requirement if they have posted the fees prior to 9 a.m. on the trading day upon which they impose the fee. 5 15 U.S.C. 78o–3(b)(6). VerDate Mar<15>2010 16:47 Mar 02, 2011 Jkt 223001 promote just and equitable principles of trade, and, in general, to protect investors and the public interest. FINRA believes the proposed rule change will provide transparency to members as to the level of non-subscriber access or post-transaction fees imposed against published quotations in OTC Equity Securities. 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 Exchange 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 All submissions should refer to File Number SR–FINRA–2011–008. 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 (http://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–2011–008 and should be submitted on or before March 24, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–4720 Filed 3–2–11; 8:45 am] 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: BILLING CODE 8011–01–P Electronic Comments Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Eliminate Duplicative Filings Under FINRA Rule 9610(a) • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–FINRA–2011–008 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. PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–63966; File No. SR–FINRA– 2011–009] February 25, 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 6 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\03MRN1.SGM 03MRN1 Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices 22, 2011, 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 and II below, which items have been prepared by FINRA. FINRA has designated the proposed rule change as constituting a ‘‘non-controversial’’ rule change under paragraph (f)(6) of Rule 19b–4 under the Act,3 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 parties. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change FINRA is filing the proposed rule change to amend FINRA Rule 9610 (Application) to delete the requirement that members provide a copy of an application for exemptive relief to FINRA’s Office of General Counsel (‘‘OGC’’). The text of the proposed rule change is available on FINRA’s Web site at http://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. processing of which uses valuable staff resources. Additionally, in the event of an appeal, the FINRA department or staff that decided the member’s application for exemptive relief provides a copy of that application to OGC. FINRA is proposing to delete the requirement that members provide a copy of the application for exemptive relief to OGC. FINRA believes that the proposed change will make the process of seeking exemptive relief more efficient by eliminating duplicative filings and providing members with a single point of contact, and it also will save staff resources. Moreover, with respect to those matters that are appealed, OGC will continue to receive a copy of the member’s application for exemptive relief from the FINRA department or staff that decided the application. FINRA is not proposing any changes to FINRA Rule 9630 (Appeal), which will continue to require members to file, in the event of an appeal, a written notice of appeal with OGC and provide a copy of the notice of appeal to the FINRA department or staff that decided the application for exemptive relief. FINRA has filed the proposed rule change for immediate effectiveness and has requested that the SEC waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing, such that FINRA can implement the proposed rule change immediately. 2. Statutory Basis srobinson on DSKHWCL6B1PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The FINRA Rule 9600 Series sets forth procedures for members seeking exemptive relief from certain enumerated rules. Currently, Rule 9610(a) requires members to file a written application for exemptive relief with the FINRA department or staff responsible for making a decision on the application, and it also requires members to provide a copy of that application to OGC. OGC receives a significant number of copies of exemptive relief applications, the 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 the proposed rule change enhances the efficiency of the exemptive relief process by eliminating duplicative filings and providing members with a single point of contact. B. Self-Regulatory Organization’s Statement on Burden on Competition 3 17 CFR 240.19b–4(f)(6). VerDate Mar<15>2010 16:47 Mar 02, 2011 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. 4 15 Jkt 223001 PO 00000 U.S.C. 78o–3(b)(6). Frm 00081 Fmt 4703 Sfmt 4703 11831 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 Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 5 and Rule 19b– 4(f)(6) thereunder.6 FINRA has asked the Commission to waive the 30-day operative delay set forth in Rule 19b–4(f)(6). The Commission believes that the proposal is intended to promote efficiency by eliminating duplicative filings and providing members with a single point of contact. The Commission sees no benefit to delaying the implementation of these changes, and therefore believes it is consistent with the protection of investors and the public interest to waive the 30-day operative delay. The Commission hereby grants such waiver.7 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend 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. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or 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 (http://www.sec.gov/ rules/sro.shtml); or 5 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 7 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule change’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 6 17 E:\FR\FM\03MRN1.SGM 03MRN1 11832 Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–FINRA–2011–009 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–2011–009. 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 (http://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 website viewing and printing in the Commission’s Public Reference Room 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 offices 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–2011–009, and should be submitted on or before March 24, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–4721 Filed 3–2–11; 8:45 am] srobinson on DSKHWCL6B1PROD with NOTICES BILLING CODE 8011–01–P 8 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:47 Mar 02, 2011 Jkt 223001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–63968; File No. SR– NASDAQ–2011–030] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt New Rule 4763 To Implement the Amendments to Regulation SHO February 25, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 2 thereunder, notice is hereby given that on February 22, 2011, The NASDAQ Stock Market LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) 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 substantially prepared by the Exchange. 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 The Exchange, pursuant to Section 19(b)(1) of the Act 3 and Rule 19b–4 4 thereunder, proposes to adopt new Rule 4763 as a written policy or procedure to implement the amendments to Rules 200(g) and 201 of Regulation SHO.5 The text of the proposed rule change is available on the Exchange’s Web site at http://nasdaq.cchwallstreet.com/ NASDAQ/Filings/, at the principal office of the Exchange, 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, the Exchange 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 Exchange 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(1). 4 17 CFR 240.19b–4. 5 17 CFR 242.200(g); 17 CFR 242.201. See Securities Exchange Act Release No. 61595 (Feb. 26, 2010), 75 FR 11232 (Mar. 10, 2010) (‘‘Adopting Release’’) (amending Rules 201 and 200 of Regulation SHO to adopt a short sale price test restriction and ‘‘short exempt’’ marking requirement). See also Securities Exchange Act Release No. 63247 (Nov. 4, 2010), 75 FR 68702 (Nov. 9, 2010) (extending the compliance date of the amendments to Rules 201 and 200 of Regulation SHO until February 28, 2011). 2 17 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 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 On February 26, 2010, the Commission adopted amendments to Rules 200(g) and 201 of Regulation SHO.6 The amendments became effective on May 10, 2010, and compliance is required by February 28, 2011.7 The amendments to Rule 201 of Regulation SHO require trading centers 8 such as NASDAQ to establish, maintain, and enforce certain written policies and procedures reasonably designed to comply with the rule.9 NASDAQ is proposing to adopt new Rule 4763 as a written policy and procedure to implement the amendments to Rules 200(g) and 201 of Regulation SHO. Proposed Rule 4763(a) defines the terms ‘‘covered security,’’ ‘‘listing market,’’ and ‘‘national best bid’’ as having the same meaning as such terms have in Rule 201 of Regulation SHO.10 Under Proposed Rule 4763(b), entitled ‘‘Short Sale Price Test,’’ the System 11 will not execute or display a short sale order with respect to a covered security at a price that is less than or equal to the current national best bid if the price of that security decreases by 10% or more from the security’s closing price on the listing market as of the end of 6 See supra note 5. 7 Id. 8 Rule 201(a)(9) states the term ‘‘trading center’’ will have the same meaning as in Rule 600(b)(78). 17 CFR 242.201(a)(9). Rule 600(b)(78) of Regulation NMS defines a ‘‘trading center’’ as ‘‘a national securities exchange or national securities association that operates an SRO trading facility, an alternative trading system, an exchange market maker, an OTC market maker, or any other broker or dealer that executes orders internally by trading as principal or crossing orders as agent.’’ 17 CFR 242.600(b)(78). 9 See 17 CFR 242.201(b). The amendments to Rule 200(g) of Regulation SHO provide a ‘‘short exempt’’ marking requirement. See 17 CFR 242.200(g). 10 See Rule 201(a) of Regulation SHO. The System will utilize the national best bid from the systems information processor. Rule 201(a)(1) defines ‘‘covered security’’ to mean any ‘‘NMS stock’’ as defined under Rule 600(b)(47) of Regulation NMS. 17 CFR 242.201(a)(1). Rule 600(b)(47) of Regulation NMS defines an ‘‘NMS stock’’ as ‘‘any NMS security other than an option.’’ 17 CFR 242.600(b)(47). Rule 600(b)(46) of Regulation NMS defines an ‘‘NMS security’’ as ‘‘any security or class of securities for which transaction reports are collected, processed, and made available pursuant to an effective transaction reporting plan, or an effective national market system plan for reporting transactions in listed options.’’ 17 CFR 242.600(b)(46). 11 See NASDAQ Rule 4751(a). The term ‘‘Nasdaq Market Center’’ or ‘‘System’’ shall mean the automated system for order execution and trade reporting owned and operated by NASDAQ. E:\FR\FM\03MRN1.SGM 03MRN1

Agencies

[Federal Register Volume 76, Number 42 (Thursday, March 3, 2011)]
[Notices]
[Pages 11830-11832]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-4721]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63966; File No. SR-FINRA-2011-009]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Filing and Immediate Effectiveness of 
Proposed Rule Change to Eliminate Duplicative Filings Under FINRA Rule 
9610(a)

February 25, 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

[[Page 11831]]

22, 2011, 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 and II 
below, which items have been prepared by FINRA. FINRA has designated 
the proposed rule change as constituting a ``non-controversial'' rule 
change under paragraph (f)(6) of Rule 19b-4 under the Act,\3\ 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 parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    FINRA is filing the proposed rule change to amend FINRA Rule 9610 
(Application) to delete the requirement that members provide a copy of 
an application for exemptive relief to FINRA's Office of General 
Counsel (``OGC'').
    The text of the proposed rule change is available on FINRA's Web 
site at http://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 9600 Series sets forth procedures for members 
seeking exemptive relief from certain enumerated rules. Currently, Rule 
9610(a) requires members to file a written application for exemptive 
relief with the FINRA department or staff responsible for making a 
decision on the application, and it also requires members to provide a 
copy of that application to OGC. OGC receives a significant number of 
copies of exemptive relief applications, the processing of which uses 
valuable staff resources. Additionally, in the event of an appeal, the 
FINRA department or staff that decided the member's application for 
exemptive relief provides a copy of that application to OGC. FINRA is 
proposing to delete the requirement that members provide a copy of the 
application for exemptive relief to OGC. FINRA believes that the 
proposed change will make the process of seeking exemptive relief more 
efficient by eliminating duplicative filings and providing members with 
a single point of contact, and it also will save staff resources. 
Moreover, with respect to those matters that are appealed, OGC will 
continue to receive a copy of the member's application for exemptive 
relief from the FINRA department or staff that decided the application.
    FINRA is not proposing any changes to FINRA Rule 9630 (Appeal), 
which will continue to require members to file, in the event of an 
appeal, a written notice of appeal with OGC and provide a copy of the 
notice of appeal to the FINRA department or staff that decided the 
application for exemptive relief.
    FINRA has filed the proposed rule change for immediate 
effectiveness and has requested that the SEC waive the requirement that 
the proposed rule change not become operative for 30 days after the 
date of the filing, such that FINRA can implement the proposed rule 
change immediately.
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 the proposed rule change enhances the 
efficiency of the exemptive relief process by eliminating duplicative 
filings and providing members with a single point of contact.
---------------------------------------------------------------------------

    \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

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act \5\ and Rule 19b-
4(f)(6) thereunder.\6\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    FINRA has asked the Commission to waive the 30-day operative delay 
set forth in Rule 19b-4(f)(6). The Commission believes that the 
proposal is intended to promote efficiency by eliminating duplicative 
filings and providing members with a single point of contact. The 
Commission sees no benefit to delaying the implementation of these 
changes, and therefore believes it is consistent with the protection of 
investors and the public interest to waive the 30-day operative delay. 
The Commission hereby grants such waiver.\7\
---------------------------------------------------------------------------

    \7\ For purposes only of waiving the 30-day operative delay, the 
Commission has considered the proposed rule change's impact on 
efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend 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. If the Commission 
takes such action, the Commission shall institute proceedings to 
determine whether the proposed rule should be approved or 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 (http://www.sec.gov/rules/sro.shtml); or

[[Page 11832]]

     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-FINRA-2011-009 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-2011-009. 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 (http://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 website 
viewing and printing in the Commission's Public Reference Room 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 offices 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-2011-009, and should be submitted on or before 
March 24, 2011.
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-4721 Filed 3-2-11; 8:45 am]
BILLING CODE 8011-01-P