Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt FINRA Rule 2081, Prohibited Conditions Relating to Expungement of Customer Dispute Information, 33625 [2014-13562]

Download as PDF Federal Register / Vol. 79, No. 112 / Wednesday, June 11, 2014 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.80 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–13564 Filed 6–10–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–72332 ; File No. SR– FINRA–2014–020] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt FINRA Rule 2081, Prohibited Conditions Relating to Expungement of Customer Dispute Information June 5, 2014. On April 14, 2014, 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 adopt FINRA Rule 2081 to prohibit member firms and associated persons from conditioning or seeking to condition settlement of a dispute with a customer on, or to otherwise compensate the customer for, the customer’s agreement to consent to, or not to oppose, the firm’s or associated person’s request to expunge the customer dispute information which was the subject of the settlement from the Central Registration Depository (CRD®). The proposal was published for comment in the Federal Register on April 23, 2014.3 The Commission received 15 comments on the proposal.4 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 71959 (April 17, 2014), 79 FR 22734 (SR–FINRA–2014– 020). 4 See Letter from Steven B. Caruso, Maddox Hargett Caruso, P.C., dated April 21, 2014; Letter from Nicole G. Iannarone, Assistant Clinical Professor, Tim Guilmette, Student Intern, and Nataliya Obikhod, Student Intern, Georgia State University College of Law, dated May 1, 2014; Letter from Ryan K. Bakhtiari, Aidikoff, Uhl and Bakhtiari, dated May 5, 2014; Letter from Richard P. Ryder, dated May 5, 2014; Letter from Barry D. Estell, dated May 7, 2014; Letter from Leonard Steiner, Steiner & Libo, PC, dated May 7, 2014; Letter from Philip M. Aidikoff, Aidikoff, Uhl and Bakhtiari, dated May 1, 2014; Letter from George H. Friedman, George H. Friedman Consulting, LLC, dated May 13, 2014; Letter from Jason Doss, President, Public Investors Arbitration Bar Association, dated May 13, 2014; Letter from David T. Bellaire, Executive Vice President and General Counsel, Financial Services Institute, dated May 14, 2014; Letter from Andrea Seidt, Ohio Securities Section 19(b)(2) of the Act 5 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 the proposed rule change should be disapproved. The 45th day for this filing is June 7, 2014. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comment letters received. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates July 22, 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–2014–020). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–13562 Filed 6–10–14; 8:45 am] BILLING CODE 8011–01–P 80 17 ehiers on DSK2VPTVN1PROD with NOTICES 1 15 VerDate Mar<15>2010 15:19 Jun 10, 2014 Jkt 232001 Commissioner and North American Securities Administrators Association (‘‘NASAA’’) President, NASAA, dated May 14, 2014; Letter from Jill Gross, Director, Elissa Germaine, Supervising Attorney, and Michelle Robinson, Student Intern, John Jay Legal Services, Inc., Pace University School of Law, dated May 14, 2014; Letter from Kevin M. Carroll, Managing Director and Associate General Counsel, Securities Industry and Financial Markets Association Small Firms Committee, dated May 14, 2014; Letter from Ronald M. Amato, Amato Law Firm, LLC, dated May 15, 2014; and Letter from Harry A. Jacobwitz, Database Manager, Securities Arbitration Commentator, Inc., dated May 16, 2014. 5 15 U.S.C. 78s(b)(2). 6 15 U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(31). PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 33625 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–72327; File No. SR–NYSE– 2014–27] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE BBO Market Data Product Offering June 5, 2014. 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 May 23, 2014, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE BBO market data product offering. 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the NYSE BBO market data product 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 E:\FR\FM\11JNN1.SGM 11JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 112 (Wednesday, June 11, 2014)]
[Notices]
[Page 33625]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-13562]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72332 ; File No. SR-FINRA-2014-020]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change To Adopt FINRA Rule 2081, Prohibited Conditions Relating to 
Expungement of Customer Dispute Information

June 5, 2014.
    On April 14, 2014, 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 adopt FINRA Rule 2081 to prohibit member firms 
and associated persons from conditioning or seeking to condition 
settlement of a dispute with a customer on, or to otherwise compensate 
the customer for, the customer's agreement to consent to, or not to 
oppose, the firm's or associated person's request to expunge the 
customer dispute information which was the subject of the settlement 
from the Central Registration Depository (CRD[supreg]). The proposal 
was published for comment in the Federal Register on April 23, 2014.\3\ 
The Commission received 15 comments on the proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 71959 (April 17, 
2014), 79 FR 22734 (SR-FINRA-2014-020).
    \4\ See Letter from Steven B. Caruso, Maddox Hargett Caruso, 
P.C., dated April 21, 2014; Letter from Nicole G. Iannarone, 
Assistant Clinical Professor, Tim Guilmette, Student Intern, and 
Nataliya Obikhod, Student Intern, Georgia State University College 
of Law, dated May 1, 2014; Letter from Ryan K. Bakhtiari, Aidikoff, 
Uhl and Bakhtiari, dated May 5, 2014; Letter from Richard P. Ryder, 
dated May 5, 2014; Letter from Barry D. Estell, dated May 7, 2014; 
Letter from Leonard Steiner, Steiner & Libo, PC, dated May 7, 2014; 
Letter from Philip M. Aidikoff, Aidikoff, Uhl and Bakhtiari, dated 
May 1, 2014; Letter from George H. Friedman, George H. Friedman 
Consulting, LLC, dated May 13, 2014; Letter from Jason Doss, 
President, Public Investors Arbitration Bar Association, dated May 
13, 2014; Letter from David T. Bellaire, Executive Vice President 
and General Counsel, Financial Services Institute, dated May 14, 
2014; Letter from Andrea Seidt, Ohio Securities Commissioner and 
North American Securities Administrators Association (``NASAA'') 
President, NASAA, dated May 14, 2014; Letter from Jill Gross, 
Director, Elissa Germaine, Supervising Attorney, and Michelle 
Robinson, Student Intern, John Jay Legal Services, Inc., Pace 
University School of Law, dated May 14, 2014; Letter from Kevin M. 
Carroll, Managing Director and Associate General Counsel, Securities 
Industry and Financial Markets Association Small Firms Committee, 
dated May 14, 2014; Letter from Ronald M. Amato, Amato Law Firm, 
LLC, dated May 15, 2014; and Letter from Harry A. Jacobwitz, 
Database Manager, Securities Arbitration Commentator, Inc., dated 
May 16, 2014.
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    Section 19(b)(2) of the Act \5\ 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 the proposed rule change should be disapproved. The 
45th day for this filing is June 7, 2014. The Commission is extending 
this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change and the comment 
letters received.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates July 22, 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-2014-020).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-13562 Filed 6-10-14; 8:45 am]
BILLING CODE 8011-01-P

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