Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Over-the-Counter Equity Trade Reporting and OATS Reporting, 2723 [2014-00574]

Download as PDF Federal Register / Vol. 79, No. 10 / Wednesday, January 15, 2014 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71262; File No. SR–FINRA– 2013–050] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Over-the-Counter Equity Trade Reporting and OATS Reporting January 9, 2014. On November 12, 2013, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend the FINRA rules governing the reporting of (i) over-the-counter (‘‘OTC’’) transactions in equity securities to the FINRA Facilities; 3 and (ii) orders in NMS stocks and OTC Equity Securities to the Order Audit Trail System (‘‘OATS’’). The Proposal was published for comment in the Federal Register on November 29, 2013.4 The Commission received one comment letter on the proposal.5 Section 19(b)(2) of the Act 6 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether these proposed rule changes should be disapproved. The 45th day for this filing is January 13, 2014. The Commission is extending the 45day time period for Commission action 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Specifically, the FINRA Facilities are the Alternative Display Facility (‘‘ADF’’) and the Trade Reporting Facilities (‘‘TRF’’), to which members report OTC transactions in NMS stocks, as defined in SEC Rule 600(b) of Regulation NMS; and the OTC Reporting Facility (‘‘ORF’’), to which members report transactions in ‘‘OTC Equity Securities,’’ as defined in FINRA Rule 6420 (i.e., non-NMS stocks such as OTC Bulletin Board and OTC Market securities), as well as transactions in Restricted Equity Securities, as defined in FINRA Rule 6420, effected pursuant to Securities Act Rule 144A. 4 See Securities Exchange Act Release No. 70924 (November 22, 2013), 78 FR 71695 (‘‘Notice’’). 5 See Letter to Elizabeth M. Murphy, Secretary, Commission, from Manisha Kimmel, Executive Director, Financial Information Forum, dated December 20, 2013 (‘‘FIF Letter’’). 6 15 U.S.C. 78s(b)(2). wreier-aviles on DSK5TPTVN1PROD with NOTICES 2 17 VerDate Mar<15>2010 14:04 Jan 14, 2014 Jkt 232001 on the proposed rule change. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider and take action on the Exchange’s proposed rule change. Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act 7 and for the reasons stated above, the Commission designates February 27, 2014, as the date by which the Commission should either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–FINRA–2013– 050). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–00574 Filed 1–14–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71275; File No. SR– NYSEMKT–2014–04] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Amex Options Fee Schedule for Firms To Increase the Transaction Fee for Certain Proprietary Electronic Executions of Standard Option Contracts That Fall Within the First of the Volume-Based Tiers for Certain Proprietary Electronic Executions of Standard Option Contracts 2723 I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE Amex Options Fee Schedule (‘‘Fee Schedule’’) for Firms to increase the transaction fee for certain proprietary electronic executions of standard option contracts that fall within the first of the volume-based tiers for certain proprietary electronic executions of standard option contracts. Firms that achieve subsequent volume tiers will be charged a lower per contract rate for all of their proprietary electronic executions of standard option contracts that month. The proposed change will be operative on January 8, 2014.4 The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization 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 those 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change January 9, 2014. 1. Purpose Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on January 8, 2014, NYSE MKT LLC (the ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. The Exchange proposes to amend the Fee Schedule for Firms to increase the transaction fee for certain proprietary electronic executions of standard option contracts that fall within the first of the volume-based tiers for certain proprietary electronic executions of standard option contracts. Firms that achieve subsequent volume tiers will be charged a lower per contract rate for all of their proprietary electronic executions of standard option contracts 7 15 U.S.C. 78s(b)(2)(A)(ii)(I). CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 8 17 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 4 The proposed filing replaces SR–NYSEMKT– 2013–108, which proposed the same fee changes effective January 2, 2014 (the ‘‘January 2nd Fee Changes’’), and which the Exchange shall withdraw. Upon the withdrawal of SR–NYSEMKT– 2013–108, the January 2nd Fee Changes will be rendered ineffective, absent the present filing, which renews the Exchange’s proposal to amend its fee schedule. E:\FR\FM\15JAN1.SGM 15JAN1

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SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 10 (Wednesday, January 15, 2014)]
[Notices]
[Page 2723]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00574]



[[Page 2723]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71262; File No. SR-FINRA-2013-050]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change Relating to Over-the-Counter Equity 
Trade Reporting and OATS Reporting

January 9, 2014.
    On November 12, 2013, the Financial Industry Regulatory Authority, 
Inc. (``FINRA'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend the FINRA rules governing the reporting 
of (i) over-the-counter (``OTC'') transactions in equity securities to 
the FINRA Facilities; \3\ and (ii) orders in NMS stocks and OTC Equity 
Securities to the Order Audit Trail System (``OATS''). The Proposal was 
published for comment in the Federal Register on November 29, 2013.\4\ 
The Commission received one comment letter on the proposal.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Specifically, the FINRA Facilities are the Alternative 
Display Facility (``ADF'') and the Trade Reporting Facilities 
(``TRF''), to which members report OTC transactions in NMS stocks, 
as defined in SEC Rule 600(b) of Regulation NMS; and the OTC 
Reporting Facility (``ORF''), to which members report transactions 
in ``OTC Equity Securities,'' as defined in FINRA Rule 6420 (i.e., 
non-NMS stocks such as OTC Bulletin Board and OTC Market 
securities), as well as transactions in Restricted Equity 
Securities, as defined in FINRA Rule 6420, effected pursuant to 
Securities Act Rule 144A.
    \4\ See Securities Exchange Act Release No. 70924 (November 22, 
2013), 78 FR 71695 (``Notice'').
    \5\ See Letter to Elizabeth M. Murphy, Secretary, Commission, 
from Manisha Kimmel, Executive Director, Financial Information 
Forum, dated December 20, 2013 (``FIF Letter'').
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    Section 19(b)(2) of the Act \6\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether these proposed rule changes should be disapproved. 
The 45th day for this filing is January 13, 2014.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \7\ 
and for the reasons stated above, the Commission designates February 
27, 2014, as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-FINRA-2013-050).
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    \7\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-00574 Filed 1-14-14; 8:45 am]
BILLING CODE 8011-01-P

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