Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Expand the Exemption to the Direct Registration Program Requirement to All Foreign Issuers Rather Than Only Foreign Private Issuers, 69911-69912 [2012-28299]
Download as PDF
Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
Commission thereafter received six
comment letters 11 and two response
letters from the Exchange.12 On
September 14, 2012, the Commission
issued a notice of designation of longer
period for Commission action on
proceedings to determine whether to
approve or disapprove the proposed
rule change, as modified by Amendment
No. 1.13 The Commission thereafter
received two additional comment
letters.14 On November 13, 2012, the
Exchange withdrew the proposed rule
change, as modified by Amendment No.
1 (SR–ISE–2012–22).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–28265 Filed 11–20–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68238; File No. SR–
NASDAQ–2012–128]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Expand the
Exemption to the Direct Registration
Program Requirement to All Foreign
Issuers Rather Than Only Foreign
Private Issuers
November 15, 2012.
srobinson on DSK4SPTVN1PROD with
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
November 7, 2012, The NASDAQ Stock
Market LLC (‘‘Nasdaq’’ or ‘‘the
11 See letters to Elizabeth M. Murphy, Secretary,
Commission, from Christopher Nagy, President,
KOR Trading LLC, dated August 6, 2012; John L.
Jacobs, Executive Vice President, NASDAQ OMX
Global Index Group, NASDAQ OMX Group, Inc.,
dated August 10, 2012; Kenneth M. Vittor,
Executive Vice President and General Counsel,
McGraw-Hill, dated August 10, 2012; Edward T.
Tilly, President and Chief Operating Officer, CBOE,
dated August 10, 2012; John V. O’Hanlon, Dechert
LLP, on behalf of the Index Industry Association,
dated August 10, 2012; and Edward T. Tilly,
President and Chief Operating Officer, CBOE, dated
August 27, 2012.
12 See letters to Elizabeth M. Murphy, Secretary,
Commission, from Michael J. Simon, Secretary, ISE,
dated August 10, 2012 and August 27, 2012.
13 See Securities Exchange Act Release No. 67865
(September 14, 2012), 77 FR 58432 (September 20,
2012).
14 See letters to Elizabeth M. Murphy, Secretary,
Commission, from Kenneth M. Vittor, Executive
Vice President and General Counsel, McGraw-Hill,
dated November 5, 2012 and Edward T. Tilly,
President and Chief Operating Officer, CBOE, dated
November 7, 2012.
15 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
VerDate Mar<15>2010
16:56 Nov 20, 2012
Jkt 229001
Exchange’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change described in
Items I and II below, which items have
been prepared primarily by the
Exchange. Nasdaq filed the proposed
rule change pursuant to Section
19(b)(3)(A) of the Act and Rule 19b–
4(f)(6) thereunder so that the proposed
rule change was effective upon filing
with the Commission.2 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
The Exchange proposes to expand the
exemption to the Direct Registration
Program requirement under Nasdaq
Rules 5210(c) and 5255(c) so that it
applies to all foreign issuers rather than
foreign private issuers only. If the
Commission waives the pre-operative
delay provided for in Rule 19b–4(f)(6),3
Nasdaq proposes to implement the
proposed rule change immediately. 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,
Nasdaq 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. Nasdaq has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.4
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
(1) Purpose
Nasdaq Rules 5210(c) and 5255
provide that all securities listed on
Nasdaq (except securities which are
book-entry only) must be eligible for a
Direct Registration Program 5 (‘‘DRS’’)
operated by a clearing agency registered
2 15 U.S.C. 78s(b)(3)(A) and 17 CFR 240.19b–
4(f)(6).
3 17 CFR 240.19b–4(f)(6).
4 The Commission has modified the text of the
summaries prepared by Nasdaq.
5 The Direct Registration Program is more often
referred to in the securities industry as the Direct
Registration System or ‘‘DRS.’’
PO 00000
Frm 00123
Fmt 4703
Sfmt 4703
69911
under Section 17A of the Act.6 When
this requirement was initially adopted,
Nasdaq recognized that the laws or
regulations of certain foreign countries
might make it impossible for companies
incorporated in those countries to
comply. Consequently, the current rule
permits a foreign private issuer to follow
its home country practice in lieu of this
requirement when prohibited from
complying by a law or regulation in its
home country.7
Nasdaq now proposes to amend this
exemption to extend its application to
all ‘‘foreign issuers’’ as that term is used
in Securities Exchange Act Rule 3b–4 8
rather than only to foreign private
issuers. Nasdaq believes this
amendment is necessary because the
same legal or regulatory impediments to
DRS eligibility exist for a foreign issuer
which is incorporated in a foreign
jurisdiction but which does not qualify
for foreign private issuer status as is the
case for a foreign private issuer
incorporated in the same jurisdiction
which is currently eligible to utilize the
existing exemption. Absent this
extension of the scope of the exemption,
the DRS eligibility requirement would
render it impossible for a foreign issuer
to list if it was not a foreign private
issuer but was incorporated in a foreign
jurisdiction whose law or regulation
made compliance with the DRS
requirement impossible. Nasdaq
believes that the proposed rule change
is appropriate in light of the specific
and discrete problem faced by foreign
issuers that are not foreign private
issuers but who are prohibited by home
country law or regulation from
becoming DRS eligible. As under the
current exemption, the foreign issuer
will have to submit to Nasdaq a written
statement from an independent counsel
in the company’s home country
certifying that a law or regulation in the
home country prohibits compliance
with the DRS requirement in order to
utilize the exemption.
Nasdaq Rule 5615 provides limited
exemptions with respect to certain
corporate governance and reporting
requirements for foreign private issuers.
The proposed rule change does not
expand the scope of such relief to
6 15
U.S.C. 78q–1.
Securities Exchange Act Release No. 54288
(August 8, 2006), 71 FR 47276 (August 16, 2006)
(order approving SR–NASDAQ–2006–008). See also
Exchange Act Release No. 58125 (July 9, 2008), 73
FR 42389 (July 21, 2008) (order approving SR–
NASDAQ–2008–031).
8 Exchange Act Rule 3b–4 defines the term
‘‘foreign issuer’’ as any issuer which is a foreign
government, a national of any foreign country or a
corporation or other organization incorporated or
organized under the laws of any foreign country. 17
CFR 240.3b–4.
7 See
E:\FR\FM\21NON1.SGM
21NON1
69912
Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
foreign issuers that do not qualify for
foreign private issuer status. To
minimize confusion about the
availability of such exemptions to
foreign issuers that do not qualify for
foreign private issuer status, the
proposed rule change will relocate the
procedural requirements to utilize the
exemption from Rule 5615 and IM–5615
to Rules 5210(c) and 5255 and conform
the language used in Rules 5210(c) and
5255 to describe the exemption.
(2) Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,9 in
general, and with section 6(b)(5) of the
Act,10 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 in 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 rule change is
consistent with the investor protection
objectives of the Act in that it will
provide a very limited exemption to
Nasdaq’s DRS eligibility requirements
for foreign issuers that provide a letter
from home country counsel certifying
that compliance with that requirement
is prohibited by home country law or
regulation. Further, the proposed rule
change should facilitate cooperation and
coordination among clearing agencies,
transfer agents, and broker-dealers by
explaining the basis upon which certain
foreign issuers are not required to
participate in DRS. This, in turn, should
facilitate better efficiency in the
clearance and settlement of securities
transactions involving the securities of
these foreign issuers and should
facilitate better efficiency in the transfer
of such securities.
Written comments relating to the
proposed rule change were neither
solicited nor received. Nasdaq will
notify the Commission of any written
comments received by the Exchange.
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 11 and paragraph
(f)(6) of Rule 19b–4 thereunder,12 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
of the proposed rule change, or such
shorter time as designated by the
Commission. Nasdaq has provided the
Commission 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.
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
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
srobinson on DSK4SPTVN1PROD with
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Nasdaq 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 purposed of the Act, as amended.
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, 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–2012–128 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 submission should refer to File
Number SR–NASDAQ–2012–128. 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 Section, 100 F Street NE.,
Washington, DC 20549–1090, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such
filings will also be available for
inspection and copying at the principal
office of Nasdaq and on Nasdaq’s Web
site at https://www.nasdaq.cchwallstreet.
com. 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–2012–128 and
should be submitted on or before
December 12, 2012.
For the Commission by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–28299 Filed 11–20–12; 8:45 am]
BILLING CODE 8011–01–P
9 15
U.S.C. 78f.
10 15 U.S.C. 78f(b)(5).
VerDate Mar<15>2010
16:56 Nov 20, 2012
11 15
U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(6).
Jkt 229001
PO 00000
Frm 00124
Fmt 4703
Sfmt 9990
13 17
E:\FR\FM\21NON1.SGM
CFR 200.30–3(a)(12).
21NON1
Agencies
[Federal Register Volume 77, Number 225 (Wednesday, November 21, 2012)]
[Notices]
[Pages 69911-69912]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28299]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68238; File No. SR-NASDAQ-2012-128]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Expand the Exemption to the Direct Registration Program Requirement to
All Foreign Issuers Rather Than Only Foreign Private Issuers
November 15, 2012.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on November 7, 2012, The
NASDAQ Stock Market LLC (``Nasdaq'' or ``the Exchange'') filed with the
Securities and Exchange Commission (``Commission'') the proposed rule
change described in Items I and II below, which items have been
prepared primarily by the Exchange. Nasdaq filed the proposed rule
change pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6)
thereunder so that the proposed rule change was effective upon filing
with the Commission.\2\ 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\ 15 U.S.C. 78s(b)(3)(A) and 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange proposes to expand the exemption to the Direct
Registration Program requirement under Nasdaq Rules 5210(c) and 5255(c)
so that it applies to all foreign issuers rather than foreign private
issuers only. If the Commission waives the pre-operative delay provided
for in Rule 19b-4(f)(6),\3\ Nasdaq proposes to implement the proposed
rule change immediately. 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.
---------------------------------------------------------------------------
\3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, Nasdaq 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. Nasdaq has prepared summaries, set forth in sections
(A), (B), and (C) below, of the most significant aspects of these
statements.\4\
---------------------------------------------------------------------------
\4\ The Commission has modified the text of the summaries
prepared by Nasdaq.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
(1) Purpose
Nasdaq Rules 5210(c) and 5255 provide that all securities listed on
Nasdaq (except securities which are book-entry only) must be eligible
for a Direct Registration Program \5\ (``DRS'') operated by a clearing
agency registered under Section 17A of the Act.\6\ When this
requirement was initially adopted, Nasdaq recognized that the laws or
regulations of certain foreign countries might make it impossible for
companies incorporated in those countries to comply. Consequently, the
current rule permits a foreign private issuer to follow its home
country practice in lieu of this requirement when prohibited from
complying by a law or regulation in its home country.\7\
---------------------------------------------------------------------------
\5\ The Direct Registration Program is more often referred to in
the securities industry as the Direct Registration System or
``DRS.''
\6\ 15 U.S.C. 78q-1.
\7\ See Securities Exchange Act Release No. 54288 (August 8,
2006), 71 FR 47276 (August 16, 2006) (order approving SR-NASDAQ-
2006-008). See also Exchange Act Release No. 58125 (July 9, 2008),
73 FR 42389 (July 21, 2008) (order approving SR-NASDAQ-2008-031).
---------------------------------------------------------------------------
Nasdaq now proposes to amend this exemption to extend its
application to all ``foreign issuers'' as that term is used in
Securities Exchange Act Rule 3b-4 \8\ rather than only to foreign
private issuers. Nasdaq believes this amendment is necessary because
the same legal or regulatory impediments to DRS eligibility exist for a
foreign issuer which is incorporated in a foreign jurisdiction but
which does not qualify for foreign private issuer status as is the case
for a foreign private issuer incorporated in the same jurisdiction
which is currently eligible to utilize the existing exemption. Absent
this extension of the scope of the exemption, the DRS eligibility
requirement would render it impossible for a foreign issuer to list if
it was not a foreign private issuer but was incorporated in a foreign
jurisdiction whose law or regulation made compliance with the DRS
requirement impossible. Nasdaq believes that the proposed rule change
is appropriate in light of the specific and discrete problem faced by
foreign issuers that are not foreign private issuers but who are
prohibited by home country law or regulation from becoming DRS
eligible. As under the current exemption, the foreign issuer will have
to submit to Nasdaq a written statement from an independent counsel in
the company's home country certifying that a law or regulation in the
home country prohibits compliance with the DRS requirement in order to
utilize the exemption.
---------------------------------------------------------------------------
\8\ Exchange Act Rule 3b-4 defines the term ``foreign issuer''
as any issuer which is a foreign government, a national of any
foreign country or a corporation or other organization incorporated
or organized under the laws of any foreign country. 17 CFR 240.3b-4.
---------------------------------------------------------------------------
Nasdaq Rule 5615 provides limited exemptions with respect to
certain corporate governance and reporting requirements for foreign
private issuers. The proposed rule change does not expand the scope of
such relief to
[[Page 69912]]
foreign issuers that do not qualify for foreign private issuer status.
To minimize confusion about the availability of such exemptions to
foreign issuers that do not qualify for foreign private issuer status,
the proposed rule change will relocate the procedural requirements to
utilize the exemption from Rule 5615 and IM-5615 to Rules 5210(c) and
5255 and conform the language used in Rules 5210(c) and 5255 to
describe the exemption.
(2) Statutory Basis
Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\9\ in general, and with section
6(b)(5) of the Act,\10\ 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 in 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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f.
\10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The proposed rule change is consistent with the investor protection
objectives of the Act in that it will provide a very limited exemption
to Nasdaq's DRS eligibility requirements for foreign issuers that
provide a letter from home country counsel certifying that compliance
with that requirement is prohibited by home country law or regulation.
Further, the proposed rule change should facilitate cooperation and
coordination among clearing agencies, transfer agents, and broker-
dealers by explaining the basis upon which certain foreign issuers are
not required to participate in DRS. This, in turn, should facilitate
better efficiency in the clearance and settlement of securities
transactions involving the securities of these foreign issuers and
should facilitate better efficiency in the transfer of such securities.
(B) Self-Regulatory Organization's Statement on Burden on Competition
Nasdaq 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 purposed of the Act, as amended.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants or Others
Written comments relating to the proposed rule change were neither
solicited nor received. Nasdaq will notify the Commission of any
written comments received by the Exchange.
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 \11\ and paragraph (f)(6) of Rule 19b-4
thereunder,\12\ 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. Nasdaq
has provided the Commission 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.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 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, as amended, 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-2012-128 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 submission should refer to File Number SR-NASDAQ-2012-128. 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 Section, 100 F Street
NE., Washington, DC 20549-1090, on official business days between the
hours of 10:00 a.m. and 3:00 p.m. Copies of such filings will also be
available for inspection and copying at the principal office of Nasdaq
and on Nasdaq's Web site at https://www.nasdaq.cchwallstreet.com. 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-2012-128 and should
be submitted on or before December 12, 2012.
For the Commission by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28299 Filed 11-20-12; 8:45 am]
BILLING CODE 8011-01-P