Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend and Adopt Several NASDAQ Rules To Reflect Changes To Rules of the Financial Industry Regulatory Authority (“FINRA”), 66658-66660 [2012-27000]
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66658
Federal Register / Vol. 77, No. 215 / Tuesday, November 6, 2012 / Notices
information or materials upon which
the Board’s determinations were made.
9. Before investing in a Fund in
excess of the limits in section
12(d)(1)(A), an Investing Fund will
execute a FOF Participation Agreement
with the Fund stating that their
respective boards of directors or trustees
and their investment advisers, or
Trustee and Sponsor, as applicable,
understand the terms and conditions of
the order, and agree to fulfill their
responsibilities under the order. At the
time of its investment in shares of a
Fund in excess of the limit in section
12(d)(1)(A)(i), an Investing Fund will
notify the Fund of the investment. At
such time, the Investing Fund will also
transmit to the Fund a list of the names
of each Investing Fund Affiliate and
Underwriting Affiliate. The Investing
Fund will notify the Fund of any
changes to the list as soon as reasonably
practicable after a change occurs. The
Fund and the Investing Fund will
maintain and preserve a copy of the
order, the FOF Participation Agreement,
and the list with any updated
information for the duration of the
investment and for a period of not less
than six years thereafter, the first two
years in an easily accessible place.
10. Before approving any advisory
contract under section 15 of the Act, the
Board of each Investing Management
Company, including a majority of the
disinterested directors or trustees, will
find that the advisory fees charged
under such contract are based on
services provided that will be in
addition to, rather than duplicative of,
the services provided under the
advisory contract(s) of any Fund in
which the Investing Management
Company may invest. These findings
and their basis will be recorded fully in
the minute books of the appropriate
Investing Management Company.
11. Any sales charges and/or service
fees charged with respect to shares of an
Investing Fund will not exceed the
limits applicable to a fund of funds as
set forth in NASD Conduct Rule 2830.
12. No Fund relying on the section
12(d)(1) relief will acquire securities of
any investment company or company
relying on section 3(c)(1) or 3(c)(7) of
the Act in excess of the limits contained
in section 12(d)(1)(A) of the Act, except
to the extent permitted by exemptive
relief from the Commission permitting
the Fund to purchase shares of other
investment companies for short-term
cash management purposes.
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For the Commission, by the Division of
Investment Management, under delegated
authority.
Kevin M. O’Neill,
Deputy Secretary.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68123; File No. SR–
NASDAQ–2012–123]
[FR Doc. 2012–27001 Filed 11–5–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting Notice
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, November 8, 2012 at 2:00
p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the Closed
Meeting.
Commissioner Gallagher, as duty
officer, voted to consider the items
listed for the Closed Meeting in a closed
session.
The subject matter of the Closed
Meeting scheduled for Thursday,
November 8, 2012 will be:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings;
A litigation matter; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact: The Office of the Secretary at
(202) 551–5400.
Dated: November 1, 2012.
Elizabeth M. Murphy,
Secretary.
Self-Regulatory Organizations;
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend and
Adopt Several NASDAQ Rules To
Reflect Changes To Rules of the
Financial Industry Regulatory
Authority (‘‘FINRA’’)
October 31, 2012.
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 October
22, 2012, The NASDAQ Stock Market
LLC (‘‘NASDAQ’’ or ‘‘Exchange’’), filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been 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 proposes to amend and
adopt several NASDAQ rules to reflect
changes to rules of the Financial
Industry Regulatory Authority
(‘‘FINRA’’). NASDAQ will implement
the proposed rule change thirty days
after the date of the filing.
The text of the proposed rule change
is available at https://
nasdaq.cchwallstreet.com, at
NASDAQ’s principal office, 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 text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
[FR Doc. 2012–27128 Filed 11–2–12; 11:15 am]
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
06NON1
Federal Register / Vol. 77, No. 215 / Tuesday, November 6, 2012 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Many of NASDAQ’s rules governing
member conduct are based on the rules
of FINRA (formerly the National
Association of Securities Dealers
(‘‘NASD’’)). During 2008, FINRA
embarked on an extended process of
moving rules formerly designated as
‘‘NASD Rules’’ into a consolidated
FINRA rulebook. In most cases, FINRA
has renumbered these rules, and in
some cases has substantively amended
them. Accordingly, NASDAQ has also
been undertaking a process of modifying
its rulebook to ensure that NASDAQ
rules corresponding to FINRA/NASD
rules continue to mirror them as closely
as practicable. To the extent possible,
NASDAQ will designate a NASDAQ
rule that is intended to parallel a FINRA
rule with the suffix ‘‘A’’. For example,
the NASDAQ rule paralleling FINRA
Rule 5320 will be designated as Rule
5320A. In this filing, NASDAQ is
amending Rule 3110 (Books and
Records) and redesignating it as Rule
3110A to incorporate NASD Rule 3110
(or any successor FINRA rule) by
reference. In addition, NASDAQ is
deleting IM–3110 (Customer Account
Information), and adopting the Rule
4510A Series (Books and Records
Requirements). The series includes Rule
4511A (General Requirement), which
incorporates FINRA Rule 4511; Rule
4512A (Customer Account Information),
which incorporates FINRA Rule 4512;
Rule 4513A (Records of Written
Customer Complaints), which
incorporates FINRA Rule 4513; Rule
4514A (Authorization Records for
Negotiable Instruments Drawn from a
Customer’s Account), which
incorporates FINRA Rule 4514; and
Rule 4515A (Approval and
Documentation of Changes in Account
Name or Designation), which
incorporates FINRA Rule 4515.3
NASDAQ notes that in some instances,
the amended rules reference rules that
are being adopted or renumbered by
contemporaneous NASDAQ rule filings
that have been filed on an immediately
effective basis.4
2. Statutory Basis
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The Exchange believes that the
proposed rule change is consistent with
3 See Securities Exchange Act Release No. 63784
(January 27, 2011), 76 FR 5850 (February 2, 2011)
(SR–FINRA–2010–052).
4 See SR–NASDAQ–2012–122 (October 22, 2012);
SR–NASDAQ–2012–124 (October 22, 2012).
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66659
the provisions of Section 6 of the Act,5
in general, and with Section 6(b)(5) of
the Act,6 in particular, in that the
proposal is designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest. The
proposed changes will conform various
NASDAQ Rules to changes made to
corresponding FINRA rules (including
certain changes resulting in adoption of
new rules), thus promoting application
of consistent regulatory standards with
respect to the rules that FINRA enforces
pursuant to its regulatory services
agreement with NASDAQ.
of the proposed rule change, or such
shorter time as designated by the
Commission.
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.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange 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, as amended.
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–NASDAQ–2012–123 on the
subject line.
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.
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–NASDAQ–2012–123. This
file number should be included on the
subject line if email 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
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change is effective
upon filing pursuant to Section
19(b)(3)(A) of the Act 7 and paragraph
(f)(6) of Rule 19b–4 thereunder,8 in that
the proposed rule change: (i) Does not
significantly affect the protection of
investors or the public interest; (ii) does
not impose any significant burden on
competition; and (iii) does not become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest; provided the selfregulatory organization has given the
Commission written notice of its 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
5 15
U.S.C. 78f.
U.S.C. 78f(b)(5).
7 15 U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b–4(f)(6).
6 15
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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:
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66660
Federal Register / Vol. 77, No. 215 / Tuesday, November 6, 2012 / Notices
inspection and copying at the principal
office of the Exchange. 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–NASDAQ–2012–123 and
should be submitted on or before
November 27, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–27000 Filed 11–5–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68124; File No. SR–
NASDAQ–2012–121]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Apply the
Position Limit Exemption Rules of
NASDAQ OMX PHLX LLC For Certain
Index Options
October 31, 2012.
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 October
18, 2012, 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 prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The NASDAQ Stock Market [sic] to
amend NASDAQ Options Market LLC
(‘‘NOM’’) 3 Rules at Chapter XIV,
Sections 5 (Position Limits for BroadBased Index Options) and 7 (Position
Limits for Industry and Micro-Narrow
Based Index Options) to apply the
position limit exemption rules of
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 NOM is NASDAQ’s facility for executing and
routing standardized equity and
index options.
1 15
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NASDAQ OMX PHLX LLC (‘‘Phlx’’) for
certain broad-based index options and
industry and micro-narrow based index
options.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
www.nasdaq.cchwallstreet.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
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. The text of
these statements may be examined at
the places specified in Item IV below.
The Exchange 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 Exchange is proposing to amend
Chapter XIV, Sections 5 (Position Limits
for Broad-Based Index Options) and
Section 7 (Position Limits for Industry
and Micro-Narrow Based Index Options)
of the NASDAQ Rules to permit
NASDAQ Options Market LLC (‘‘NOM’’)
Options Participants to utilize position
limit exemptions,4 which are currently
available on Phlx with respect to certain
index options discussed below.
Currently, Chapter XIV, Sections 5
and 7 state that NOM Options
Participants shall comply with the
applicable rules of the Chicago Board
Options Exchange, Incorporated
(‘‘CBOE’’) with respect to position
limits, both for broad-based and
industry or micro-narrow index options.
The Exchange recently filed to list
options on several Phlx proprietary and
non-proprietary indexes on NOM,
which are not listed on CBOE: MSCI
EM, MSCI EAFE, PHLX Oil Service
SectorSM index (OSX), PHLX
Semiconductor SectorSM Index (SOX)
and PHLX Housing SectorTM Index
(HGX) 5 (collectively ‘‘MSCI and PHLX
4 This would include all rules relating to
exemptions. See Phlx Rule 1001A Position Limits.
5 See Securities Exchange Act Release Nos. 67582
(August 2, 2012), 77 FR 47455 (August 8, 2012)
(SR–NASDAQ–2012–092) (an immediately effective
filing relating to option [sic] on the MSCI EM and
MSCI EAFE Index [sic]) and 67105 (June 4, 2012),
77 FR 34110 (June 8, 2012) (SR–NASDAQ–2012–
065) (an immediately effective filing relating to
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Frm 00083
Fmt 4703
Sfmt 4703
Indexes’’). In each of these filings, the
Exchange sought to list and trade the
MSCI and PHLX Indexes on NOM by
amending the NOM rules to provide for
the same position limits that are applied
currently on Phlx for options overlying
the MSCI and PHLX Indexes.6 Both
filings intended that options on the
MSCI and PHLX Indexes would be
listed and traded on NOM as they are
on Phlx.7 Both filings added new
sections to Chapter XIV, Sections 5 and
7 to specify the applicable position
limits because options on the MSCI and
PHLX Indexes were not listed on
another exchange other than Phlx.8
Unlike index options that are listed
on CBOE, where applicable CBOE rules
relating to position limits, including
exemptions from position limits, are
incorporated by reference in NOM’s
rules, all applicable Phlx rules relating
to position limits for the MSCI and
PHLX Indexes, including specifically
position limit exemptions, are not
incorporated by reference in NOM’s
rules.9 Rather, only the specified
position limits for these indexes as set
forth in Phlx’s rules are replicated in
NOM’s rules.10
The Exchange is proposing to
incorporate by reference the entirety of
Phlx’s rules relating to position limits
with respect to options overlying the
MSCI and PHLX Indexes. This would
allow NOM Options Participants
desiring to trade options on the MSCI
and PHLX Indexes to avail themselves
of the same exemptions as Phlx
members receive today.
To this end, the Exchange is
proposing to amend Chapter XIV,
Section 5 to state that the applicable
Phlx position limit rules would apply to
the MSCI EAFE and MSCI EM broadbased index options. Also, the Exchange
would amend Chapter XIV, Section 7 to
state that the applicable Phlx position
limit rules would apply to PHLX Oil
Service SectorSM index (OSX), PHLX
Semiconductor SectorSM Index (SOX)
and PHLX Housing SectorTM Index
(HGX) industry and micro-narrow based
index options. The Exchange proposes
to remove section (d) of Chapter XIV,
strike price intervals and position limits for OSX,
SOX and HGX).
6 Id. Today, this does not include the application
of Phlx exemptions.
7 Id.
8 Id.
9 See Phlx Rules [sic] 1001A Position Limits. See
also NOM Rules at Chapter XIV, Section 5(d) and
Section 7(d) which replicate the Phlx position
limits for the MSCI and Phlx Indexes within the
NOM Rules.
10 See Phlx Rules [sic] 1001A Position Limits. See
also NOM Rules at Chapter XIV, Section 7(d) and
(e) which replicate the Phlx position limits for Phlx
Indexes within the NOM Rules.
E:\FR\FM\06NON1.SGM
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]]>Agencies
[Federal Register Volume 77, Number 215 (Tuesday, November 6, 2012)]
[Notices]
[Pages 66658-66660]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27000]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68123; File No. SR-NASDAQ-2012-123]
Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend and
Adopt Several NASDAQ Rules To Reflect Changes To Rules of the Financial
Industry Regulatory Authority (``FINRA'')
October 31, 2012.
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 October 22, 2012, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange''), filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. 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
The Exchange proposes to amend and adopt several NASDAQ rules to
reflect changes to rules of the Financial Industry Regulatory Authority
(``FINRA''). NASDAQ will implement the proposed rule change thirty days
after the date of the filing.
The text of the proposed rule change is available at https://nasdaq.cchwallstreet.com, at NASDAQ's principal office, 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
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.
[[Page 66659]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Many of NASDAQ's rules governing member conduct are based on the
rules of FINRA (formerly the National Association of Securities Dealers
(``NASD'')). During 2008, FINRA embarked on an extended process of
moving rules formerly designated as ``NASD Rules'' into a consolidated
FINRA rulebook. In most cases, FINRA has renumbered these rules, and in
some cases has substantively amended them. Accordingly, NASDAQ has also
been undertaking a process of modifying its rulebook to ensure that
NASDAQ rules corresponding to FINRA/NASD rules continue to mirror them
as closely as practicable. To the extent possible, NASDAQ will
designate a NASDAQ rule that is intended to parallel a FINRA rule with
the suffix ``A''. For example, the NASDAQ rule paralleling FINRA Rule
5320 will be designated as Rule 5320A. In this filing, NASDAQ is
amending Rule 3110 (Books and Records) and redesignating it as Rule
3110A to incorporate NASD Rule 3110 (or any successor FINRA rule) by
reference. In addition, NASDAQ is deleting IM-3110 (Customer Account
Information), and adopting the Rule 4510A Series (Books and Records
Requirements). The series includes Rule 4511A (General Requirement),
which incorporates FINRA Rule 4511; Rule 4512A (Customer Account
Information), which incorporates FINRA Rule 4512; Rule 4513A (Records
of Written Customer Complaints), which incorporates FINRA Rule 4513;
Rule 4514A (Authorization Records for Negotiable Instruments Drawn from
a Customer's Account), which incorporates FINRA Rule 4514; and Rule
4515A (Approval and Documentation of Changes in Account Name or
Designation), which incorporates FINRA Rule 4515.\3\ NASDAQ notes that
in some instances, the amended rules reference rules that are being
adopted or renumbered by contemporaneous NASDAQ rule filings that have
been filed on an immediately effective basis.\4\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 63784 (January 27,
2011), 76 FR 5850 (February 2, 2011) (SR-FINRA-2010-052).
\4\ See SR-NASDAQ-2012-122 (October 22, 2012); SR-NASDAQ-2012-
124 (October 22, 2012).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\5\ in general, and with
Section 6(b)(5) of the Act,\6\ in particular, in that the proposal is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. The proposed
changes will conform various NASDAQ Rules to changes made to
corresponding FINRA rules (including certain changes resulting in
adoption of new rules), thus promoting application of consistent
regulatory standards with respect to the rules that FINRA enforces
pursuant to its regulatory services agreement with NASDAQ.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange 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, as amended.
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.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change is effective upon filing pursuant to
Section 19(b)(3)(A) of the Act \7\ and paragraph (f)(6) of Rule 19b-4
thereunder,\8\ in that the proposed rule change: (i) Does not
significantly affect the protection of investors or the public
interest; (ii) does not impose any significant burden on competition;
and (iii) does not become operative for 30 days after the date of the
filing, or such shorter time as the Commission may designate if
consistent with the protection of investors and the public interest;
provided the self-regulatory organization has given the Commission
written notice of its 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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 email to rule-comments@sec.gov. Please include
File Number SR-NASDAQ-2012-123 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-NASDAQ-2012-123. This
file number should be included on the subject line if email 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
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for
[[Page 66660]]
inspection and copying at the principal office of the Exchange. 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-NASDAQ-2012-123 and
should be submitted on or before November 27, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-27000 Filed 11-5-12; 8:45 am]
BILLING CODE 8011-01-P
