Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Implementation Date for Expansion of the Order Audit Trail System to All NMS Stocks, 61773-61775 [2011-25674]
Download as PDF
<![CDATA[
Federal Register / Vol. 76, No. 193 / Wednesday, October 5, 2011 / Notices
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition 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
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and Rule 19b–4(f)(6)
thereunder 12 because the proposal does
not: (i) Significantly affect the
protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) by its
terms, become operative for 30 days
from the date on which it was filed, or
such shorter time as the Commission
may designate if consistent with the
protection of investors and the public
interest.13
The Exchange has requested that the
Commission waive the 30-day operative
delay period. The Exchange proposes to
add an additional option for settlement
delivery consistent with the practices of
other exchanges. Therefore, the
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest, and designates the
proposed rule change to be operative
upon filing with the Commission.14
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.
11 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
13 In addition, Rule 19b–4(f)(6)(iii) requires the
Exchange to give the Commission written notice of
the Exchange’s intent to file the proposed rule
change, along with a brief description and text of
the proposed rule change, at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Exchange has satisfied this
requirement.
14 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
mstockstill on DSK4VPTVN1PROD with NOTICES
12 17
VerDate Mar<15>2010
19:11 Oct 04, 2011
Jkt 226001
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:
61773
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–25572 Filed 10–4–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
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–CBOE–2011–089 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.
[Release No. 34–65442; File No. SR–FINRA–
2011–055]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the Extension
of the Implementation Date for
Expansion of the Order Audit Trail
System to All NMS Stocks
September 29, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
All submissions should refer to File
notice is hereby given that on
Number SR–CBOE–2011–089. This file
September 27, 2011, Financial Industry
number should be included on the
Regulatory Authority, Inc. (‘‘FINRA’’)
subject line if e-mail is used. To help the filed with the Securities and Exchange
Commission process and review your
Commission (‘‘SEC’’ or ‘‘Commission’’)
comments more efficiently, please use
the proposed rule change as described
only one method. The Commission will in Items I, II, and III below, which Items
post all comments on the Commission’s have been prepared by FINRA. FINRA
Internet Web site (https://www.sec.gov/
has designated the proposed rule change
as ‘‘constituting a stated policy,
rules/sro.shtml). Copies of the
practice, or interpretation with respect
submission, all subsequent
to the meaning, administration, or
amendments, all written statements
enforcement of an existing rule’’ under
with respect to the proposed rule
Section 19(b)(3)(A)(i) of the Act 3 and
change that are filed with the
Rule 19b–4(f)(1) thereunder,4 which
Commission, and all written
renders the proposal effective upon
communications relating to the
receipt of this filing by the Commission.
proposed rule change between the
Commission and any person, other than The Commission is publishing this
notice to solicit comments on the
those that may be withheld from the
proposed rule change from interested
public in accordance with the
persons.
provisions of 5 U.S.C. 552, will be
I. Self-Regulatory Organization’s
available for website viewing and
Statement of the Terms of Substance of
printing in the Commission’s Public
the Proposed Rule Change
Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official
FINRA is proposing to establish
business days between the hours of 10
October 17, 2011, as the implementation
a.m. and 3 p.m. Copies of such filing
date of the amendments to FINRA Rules
also will be available for inspection and 7410 and 7470 that the Commission
copying at the principal office of the
approved on November 12, 2010.5
Exchange. All comments received will
The text of the proposed rule change
be posted without change; the
is available on FINRA’s Web site at
https://www.finra.org, at the principal
Commission does not edit personal
identifying information from
15 17 CFR 200.30–3(a)(12).
submissions. You should submit only
1 15 U.S.C. 78s(b)(1).
information that you wish to make
2 17 CFR 240.19b–4.
available publicly. All submissions
3 15 U.S.C. 78s(b)(3)(A)(i).
should refer to File Number SR–CBOE–
4 17 CFR 240.19b–4(f)(1).
2011–089 and should be submitted on
5 See Securities Exchange Act Release No. 63311
or before October 26, 2011.
(November 12, 2010), 75 FR 70757 (November 18,
PO 00000
2010) (SR–FINRA–2010–044).
Frm 00110
Fmt 4703
Sfmt 4703
E:\FR\FM\05OCN1.SGM
05OCN1
61774
Federal Register / Vol. 76, No. 193 / Wednesday, October 5, 2011 / Notices
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.
mstockstill on DSK4VPTVN1PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
FINRA is filing the proposed rule
change to establish October 17, 2011, as
the implementation date for the
amendments to the Order Audit Trail
System (‘‘OATS’’) rules expanding the
OATS recording and reporting
requirements to all NMS stocks.
On November 12, 2010, the SEC
approved SR–FINRA–2010–044, which
amended FINRA Rules 7410 and 7470 to
expand the OATS recording and
reporting requirements to include all
NMS stocks.6 On January 11, 2011,
FINRA published Regulatory Notice 11–
03 announcing that the Commission
approved the amendments and that
FINRA was publishing a new version of
the OATS Reporting Technical
Specifications. Pursuant to the SEC’s
approval of SR–FINRA–2010–044 and
the timing set forth in Regulatory Notice
11–03, the amendments to the OATS
Rules were originally scheduled to
begin to be phased in on July 11, 2011,
six months after the publication of
Regulatory Notice 11–03 and the revised
OATS Reporting Technical
Specifications. On April 26, 2011,
FINRA filed a proposed rule change
delaying the beginning of the
implementation period until October 3,
2011.7
The OATS test environment, which
allows firms to voluntarily submit data
to FINRA to test the adequacy of their
reporting systems, was made available
for members beginning on August 22,
2011, so that firms could begin testing
the reporting of orders for all NMS
6 See Securities Exchange Act Release No. 63311
(November 12, 2010), 75 FR 70757 (November 18,
2010) (SR–FINRA–2010–044).
7 See Securities Exchange Act Release No. 64369
(April 29, 2011), 76 FR 25399 (May 4, 2011).
VerDate Mar<15>2010
19:11 Oct 04, 2011
Jkt 226001
stocks. After reviewing the results of
firms’ reporting in the test environment
since that time, FINRA believes that
firms, and the quality of the data
submitted to OATS, would benefit from
an additional two-week period during
which firms can continue to test their
systems changes. Consequently, FINRA
is seeking to delay the implementation
of the new OATS recording and
reporting requirements for NMS stocks
for an additional two weeks, until
October 17, 2011, to give firms
additional time to make necessary
adjustments and changes to their
systems, and to test those adjustments
and changes in FINRA’s test
environment. FINRA believes that a
two-week delay will help ensure that
firms can comply with the expanded
OATS recording and reporting
requirements on the implementation
date. Consequently, FINRA will begin to
phase-in the new recording and
reporting requirements beginning on
October 17, 2011.
FINRA has filed the proposed rule
change for immediate effectiveness.
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
extending the implementation date of
the extension of the OATS Rules to all
NMS stocks will ensure that firms have
sufficient time to ensure that the
necessary changes to their systems are
implemented to enable the firms to
comply with the new OATS recording
and reporting requirements when they
become effective. In addition, FINRA
believes that extending the
implementation date will improve the
quality of the data submitted to FINRA
once the proposed rule change is
implemented.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 9 and paragraph (f)(1) of Rule
19b–4 thereunder.10 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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–FINRA–2011–055 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–2011–055. 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
9 15
8 15
PO 00000
U.S.C. 78o–3(b)(6).
Frm 00111
Fmt 4703
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(1).
10 17
Sfmt 4703
E:\FR\FM\05OCN1.SGM
05OCN1
Federal Register / Vol. 76, No. 193 / Wednesday, October 5, 2011 / Notices
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–2011–055 and
should be submitted on or before
October 26, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Elizabeth M. Murphy,
Secretary.
Notice is
hereby given that as a result of the
President’s major disaster declaration on
09/23/2011, Private Non-Profit
organizations that provide essential
services of governmental nature may file
disaster loan applications at the address
listed above or other locally announced
locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Atchison, Doniphan,
Leavenworth, Wyandotte.
The Interest Rates are:
SUPPLEMENTARY INFORMATION:
Percent
For Physical Damage:
Non-profit organizations with
credit available elsewhere .....
Non-profit organizations without
credit available elsewhere .....
For Economic Injury:
Non-profit organizations without
credit available elsewhere .....
3.000
The number assigned to this disaster
for physical damage is 128606 and for
economic injury is 128616.
BILLING CODE 8011–01–P
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
SMALL BUSINESS ADMINISTRATION
Joseph P. Loddo,
Acting Associate Administrator for Disaster
Assistance.
[FR Doc. 2011–25674 Filed 10–4–11; 8:45 am]
[Disaster Declaration #12860 and #12861]
[FR Doc. 2011–25662 Filed 10–4–11; 8:45 am]
BILLING CODE 8025–01–P
Kansas Disaster #KS–00059
SMALL BUSINESS ADMINISTRATION
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
mstockstill on DSK4VPTVN1PROD with NOTICES
11 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
19:11 Oct 04, 2011
Jkt 226001
Percent
For Physical Damage:
Non-profit organizations with
credit available elsewhere .....
Non-profit organizations without
credit available elsewhere .....
For Economic Injury:
Non-profit organizations without
credit available elsewhere .....
3.250
3.000
3.000
The number assigned to this disaster
for physical damage is 128588 and for
economic injury is 128598.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
Joseph P. Loddo,
Acting Associate Administrator for Disaster
Assistance.
[FR Doc. 2011–25666 Filed 10–4–11; 8:45 am]
BILLING CODE 8025–01–P
[Disaster Declaration #12858 and #12859]
This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Kansas (FEMA–4035–DR),
dated 09/23/2011.
Incident: Flooding.
Incident Period: 06/01/2011 through
08/01/2011.
DATES: Effective Date: 09/23/2011.
Physical Loan Application Deadline
Date: 11/22/2011.
Economic Injury (EIDL) Loan
Application Deadline Date: 06/25/2012.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
SUMMARY:
U.S. Small Business Administration,
409 3rd Street, SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
President’s major disaster declaration on
09/23/2011, Private Non-Profit
organizations that provide essential
services of governmental nature may file
disaster loan applications at the address
listed above or other locally announced
locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Broome, Chenango,
Delaware, Otsego, Tioga, Tompkins.
The Interest Rates are:
3.250
3.000
61775
New York Disaster #NY–00113
SMALL BUSINESS ADMINISTRATION
U.S. Small Business
Administration.
ACTION: Notice.
[Disaster Declaration #12815 and #12816
This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of New York (FEMA–4031–
DR), dated 09/23/2011.
Incident: Remnants of Tropical Storm
Lee.
Incident Period: 09/07/2011 through
09/11/2011.
DATES: Effective Date: 09/23/2011.
Physical Loan Application Deadline
Date: 11/22/2011.
Economic Injury (EIDL) Loan
Application Deadline Date: 06/25/2012.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
AGENCY:
AGENCY:
SUMMARY:
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
Texas Disaster Number TX–00381
U.S. Small Business
Administration.
ACTION: Amendment 4.
This is an amendment of the
Presidential declaration of a major
disaster for the State of Texas (FEMA–
4029–DR), dated 09/09/2011.
Incident: Wildfires.
Incident Period: 08/30/2011 and
continuing.
SUMMARY:
Effective Date: 09/23/2011.
Physical Loan Application Deadline
Date: 11/08/2011.
EIDL Loan Application Deadline Date:
06/06/2012.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing And
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
DATES:
E:\FR\FM\05OCN1.SGM
05OCN1
]]>Agencies
[Federal Register Volume 76, Number 193 (Wednesday, October 5, 2011)]
[Notices]
[Pages 61773-61775]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-25674]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-65442; File No. SR-FINRA-2011-055]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of
Proposed Rule Change Relating to the Extension of the Implementation
Date for Expansion of the Order Audit Trail System to All NMS Stocks
September 29, 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 September 27, 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,
II, and III below, which Items have been prepared by FINRA. FINRA has
designated the proposed rule change as ``constituting a stated policy,
practice, or interpretation with respect to the meaning,
administration, or enforcement of an existing rule'' under Section
19(b)(3)(A)(i) of the Act \3\ and Rule 19b-4(f)(1) thereunder,\4\ which
renders the proposal effective upon receipt of this filing by the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(i).
\4\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
FINRA is proposing to establish October 17, 2011, as the
implementation date of the amendments to FINRA Rules 7410 and 7470 that
the Commission approved on November 12, 2010.\5\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 63311 (November 12,
2010), 75 FR 70757 (November 18, 2010) (SR-FINRA-2010-044).
---------------------------------------------------------------------------
The text of the proposed rule change is available on FINRA's Web
site at https://www.finra.org, at the principal
[[Page 61774]]
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
FINRA is filing the proposed rule change to establish October 17,
2011, as the implementation date for the amendments to the Order Audit
Trail System (``OATS'') rules expanding the OATS recording and
reporting requirements to all NMS stocks.
On November 12, 2010, the SEC approved SR-FINRA-2010-044, which
amended FINRA Rules 7410 and 7470 to expand the OATS recording and
reporting requirements to include all NMS stocks.\6\ On January 11,
2011, FINRA published Regulatory Notice 11-03 announcing that the
Commission approved the amendments and that FINRA was publishing a new
version of the OATS Reporting Technical Specifications. Pursuant to the
SEC's approval of SR-FINRA-2010-044 and the timing set forth in
Regulatory Notice 11-03, the amendments to the OATS Rules were
originally scheduled to begin to be phased in on July 11, 2011, six
months after the publication of Regulatory Notice 11-03 and the revised
OATS Reporting Technical Specifications. On April 26, 2011, FINRA filed
a proposed rule change delaying the beginning of the implementation
period until October 3, 2011.\7\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 63311 (November 12,
2010), 75 FR 70757 (November 18, 2010) (SR-FINRA-2010-044).
\7\ See Securities Exchange Act Release No. 64369 (April 29,
2011), 76 FR 25399 (May 4, 2011).
---------------------------------------------------------------------------
The OATS test environment, which allows firms to voluntarily submit
data to FINRA to test the adequacy of their reporting systems, was made
available for members beginning on August 22, 2011, so that firms could
begin testing the reporting of orders for all NMS stocks. After
reviewing the results of firms' reporting in the test environment since
that time, FINRA believes that firms, and the quality of the data
submitted to OATS, would benefit from an additional two-week period
during which firms can continue to test their systems changes.
Consequently, FINRA is seeking to delay the implementation of the new
OATS recording and reporting requirements for NMS stocks for an
additional two weeks, until October 17, 2011, to give firms additional
time to make necessary adjustments and changes to their systems, and to
test those adjustments and changes in FINRA's test environment. FINRA
believes that a two-week delay will help ensure that firms can comply
with the expanded OATS recording and reporting requirements on the
implementation date. Consequently, FINRA will begin to phase-in the new
recording and reporting requirements beginning on October 17, 2011.
FINRA has filed the proposed rule change for immediate
effectiveness.
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 extending the implementation date
of the extension of the OATS Rules to all NMS stocks will ensure that
firms have sufficient time to ensure that the necessary changes to
their systems are implemented to enable the firms to comply with the
new OATS recording and reporting requirements when they become
effective. In addition, FINRA believes that extending the
implementation date will improve the quality of the data submitted to
FINRA once the proposed rule change is implemented.
---------------------------------------------------------------------------
\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
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \9\ and paragraph (f)(1) of Rule 19b-4
thereunder.\10\ 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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
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-2011-055 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-2011-055. 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
[[Page 61775]]
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-2011-055 and should be submitted on or before October 26,
2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-25674 Filed 10-4-11; 8:45 am]
BILLING CODE 8011-01-P
