Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend BOX Rule 7130 (Execution and Price/Time Priority) To Adjust the NBBO Exposure Period, 42581 [C1-2013-15780]
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Federal Register / Vol. 78, No. 136 / Tuesday, July 16, 2013 / Notices
proposed rule change from interested
persons.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69863; File No. SR–BOX–
2013–32]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Amend
BOX Rule 7130 (Execution and Price/
Time Priority) To Adjust the NBBO
Exposure Period
June 26, 2013.
Correction
In notice document 2013–15780
beginning on page 39805 in the issue of
Tuesday, July 2, 2013, make the
following correction:
On page 39805, in the first column,
the heading is corrected to read as set
forth above.
[FR Doc. C1–2013–15780 Filed 7–15–13; 8:45 am]
BILLING CODE 1505–01–D
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69966; File No. SR–FINRA–
2013–028]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Revise the Series 55
Examination Program
emcdonald on DSK67QTVN1PROD with NOTICES
July 11, 2013.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘SEA’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on June 27, 2013, 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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(i).
4 17 CFR 240.19b–4(f)(1).
2 17
VerDate Mar<15>2010
18:49 Jul 15, 2013
Jkt 229001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
FINRA is filing revisions to the
content outline and selection
specifications for the Equity Trader
(Series 55) examination program.5 The
proposed revisions update the material
to reflect changes to the laws, rules and
regulations covered by the examination
and to reflect the functions currently
performed by an Equity Trader. FINRA
is not proposing any textual changes to
the By-Laws, Schedules to the By-Laws
or Rules of FINRA.
The revised content outline is
attached.6 The Series 55 selection
specifications have been submitted to
the Commission under separate cover
with a request for confidential treatment
pursuant to SEA Rule 24b–2.7
The text of the proposed rule change
is available on FINRA’s Web site at
https://www.finra.org, at the principal
office of FINRA and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
FINRA included statements concerning
the purpose of and basis for the
proposed rule change 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
Section 15A(g)(3) of the Act 8
authorizes FINRA to prescribe standards
of training, experience, and competence
5 FINRA also is proposing corresponding
revisions to the Series 55 question bank. Based on
instruction from SEC staff, FINRA is submitting this
filing for immediate effectiveness pursuant to
Section 19(b)(3)(A) of the Act and Rule 19b–4(f)(1)
thereunder, and is not filing the question bank for
review. See Letter to Alden S. Adkins, Senior Vice
President and General Counsel, NASD Regulation,
from Belinda Blaine, Associate Director, Division of
Market Regulation, SEC, dated July 24, 2000. The
question bank is available for SEC review.
6 The Commission notes that the content outline
is attached to the filing, not to this Notice and that
the content outline, in effect, constitutes the text of
the proposed rule change.
7 17 CFR 240.24b–2.
8 15 U.S.C. 78o–3(g)(3).
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42581
for persons associated with FINRA
members. In accordance with that
provision, FINRA has developed
examinations that are designed to
establish that persons associated with
FINRA members have attained specified
levels of competence and knowledge,
consistent with applicable registration
requirements under FINRA rules.
FINRA periodically reviews the content
of the examinations to determine
whether revisions are necessary or
appropriate in view of changes
pertaining to the subject matter covered
by the examinations.
Pursuant to NASD Rule 1032(f)
(Limited Representative—Equity
Trader), each associated person of a
member who is included within the
definition of representative in NASD
Rule 1031(b) (Definition of
Representative) is required to register
with FINRA as an Equity Trader if, with
respect to transactions in equity,
preferred or convertible debt securities
effected otherwise than on a securities
exchange, such person is engaged in
proprietary trading, the execution of
transactions on an agency basis or the
direct supervision of such activities.
There is an exception from the Equity
Trader requirement for any associated
person of a member whose trading
activities are conducted principally on
behalf of an investment company that is
registered with the Commission
pursuant to the Investment Company
Act of 1940 and that controls, is
controlled by, or is under common
control with the member. The Series 55
examination qualifies an individual to
function as an Equity Trader. Before
registration as an Equity Trader may
become effective, the individual must be
registered as either a General Securities
Representative (Series 7) or Corporate
Securities Representative (Series 62).
In concert with a committee of
industry representatives, FINRA
recently undertook a review of the
Series 55 examination program. As a
result of this review, FINRA is
proposing to make revisions to the
content outline to reflect changes to the
laws, rules and regulations covered by
the examination and to reflect the
functions currently performed by an
Equity Trader.
Current Outline
The current content outline is divided
into four critical sections. The following
are the four sections and the number of
questions associated with each of the
sections, denoted 1 through 4:
1: NASDAQ and Over-The-Counter
Markets, 42 questions;
2: Display, Execution and Trading
Systems, 12 questions;
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]]>Agencies
[Federal Register Volume 78, Number 136 (Tuesday, July 16, 2013)]
[Notices]
[Page 42581]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: C1-2013-15780]
[[Page 42581]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69863; File No. SR-BOX-2013-32]
Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend BOX Rule 7130 (Execution and Price/Time Priority) To Adjust the
NBBO Exposure Period
June 26, 2013.
Correction
In notice document 2013-15780 beginning on page 39805 in the issue
of Tuesday, July 2, 2013, make the following correction:
On page 39805, in the first column, the heading is corrected to
read as set forth above.
[FR Doc. C1-2013-15780 Filed 7-15-13; 8:45 am]
BILLING CODE 1505-01-D
