Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt FINRA Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions), as Modified by Partial Amendment No. 1, in the Consolidated FINRA Rulebook, 8109-8110 [2016-03127]

Download as PDF Federal Register / Vol. 81, No. 31 / Wednesday, February 17, 2016 / Notices fee, or other charge imposed by the Exchange. At any time within 60 days of the filing of such 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 under section 19(b)(2)(B) 12 of the Act to determine whether the proposed rule change 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: asabaliauskas on DSK5VPTVN1PROD with NOTICES 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– NYSEMKT–2016–18 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEMKT–2016–18. 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 12 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 19:05 Feb 16, 2016 Jkt 238001 filing also will be available for 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– NYSEMKT–2016–18, and should be submitted on or before March 9, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Brent J. Fields, Secretary. [FR Doc. 2016–03129 Filed 2–16–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77103; File No. SR–FINRA– 2015–029] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt FINRA Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions), as Modified by Partial Amendment No. 1, in the Consolidated FINRA Rulebook February 10, 2016. On July 31, 2015, 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 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to adopt a new, consolidated rule addressing accounts opened or established by associated persons of members at firms other than the firm with which they are associated. The proposed rule change was published for comment in the Federal Register on August 14, 2015.3 The Commission received four comment letters in response to the proposal.4 On 13 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Exchange Act Rel. No. 75655 (Aug. 10, 2015), 80 FR 48941 (Aug. 14, 2015). The comment period closed on September 4, 2015. 4 See Letters from Eric Arnold and Clifford Kirsch, Sutherland Asbill & Brennan LLP (for the Committee of Annuity Insurers), dated September 4, 2015; Michael J. Hogan, President and Chief Executive Officer, FOLIOfn Investments, Inc., dated September 4, 2015; Joseph C. Peiffer, President, 1 15 PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 8109 November 10, 2015, FINRA responded to the comments and filed Partial Amendment No. 1 to the existing proposal.5 On November 12, 2015, the Commission issued an order instituting proceedings pursuant to Exchange Act section 19(b)(2)(B) 6 to determine whether to approve or disapprove the proposed rule change, as modified by Partial Amendment No. 1. The order was published in the Federal Register on November 18, 2015.7 The Commission received one (1) comment letter in response to the Order Instituting Proceedings.8 Exchange Act section 19(b)(2)(B)(ii)(I) 9 provides that the Commission shall approve or disapprove a proposed rule change in Proceedings within 180 days after the Publication Date, or within a longer period up to 240 days after the Publication Date if: (1) The Commission determines that a longer period is appropriate and publishes the reasons for so determining,10 or (2) the applicable self-regulatory organization consents to the extension.11 The 180th day for this filing (File Number SR– FINRA–2015–029) is February 10, 2016. The Commission is extending this 180-day time period. The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the Public Investors Arbitration Bar Association, dated September 3, 2015; and Kevin Zambrowicz, Associate General Counsel & Managing Director, and Stephen Vogt, Assistant Vice President & Assistant General Counsel, Securities Industry and Financial Markets Association, dated September 3, 2015. Comment letters are available at www.sec.gov. 5 See Letter from Patrice Gliniecki, Senior Vice President and Deputy General Counsel, FINRA, to the Commission, dated November 10, 2015. FINRA’s letter and text of Partial Amendment No. 1 are 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. 6 15 U.S.C. 78s(b)(2)(B) (if the Commission does not approve or disapprove a proposed rule change under Exchange Act section 19(b)(2)(A) (i.e., within 90 days of publication of notice of the filing of the proposed rule change in the Federal Register (the ‘‘Publication Date’’)), the Commission shall institute proceedings to determine whether to approve or disapprove the proposed rule change (‘‘Proceedings’’)). 7 See Exchange Act Release No. 76430 (Nov. 12, 2015), 80 FR 72118 (Nov. 18, 2015) (Order Instituting Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change to Adopt FINRA Rule 3210 (Accounts at Other BrokerDealers and Financial Institutions), as Modified by Partial Amendment No. 1) (‘‘Order Instituting Proceedings’’). The comment period closed on December 9, 2015. 8 See Letter from Laura Crosby-Brown, dated November 13, 2015. Comment letters are available at www.sec.gov. 9 15 U.S.C. 78s(b)(2)(B)(ii)(I). 10 Exchange Act section 19(b)(2)(B)(ii)(II)(aa), 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa). 11 Exchange Act section 19(b)(2)(B)(ii)(II)(bb), 15 U.S.C. 78s(b)(2)(B)(ii)(II)(bb). E:\FR\FM\17FEN1.SGM 17FEN1 8110 Federal Register / Vol. 81, No. 31 / Wednesday, February 17, 2016 / Notices proposed rule change so that it has sufficient time to consider the proposed rule change, as amended by Partial Amendment No.1, comment letters, and FINRA’s submission. Accordingly, the Commission, pursuant to Exchange Act section 19(b)(2), designates April 8, 2016, as the date by which the Commission shall approve or disapprove the proposed rule change. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Brent J. Fields, Secretary. [FR Doc. 2016–03127 Filed 2–16–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 204A–1, asabaliauskas on DSK5VPTVN1PROD with NOTICES SEC File No. 270–536, OMB Control No. 3235–0596. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit these existing collections of information to the Office of Management and Budget for extension and approval. The title for the collection of information is ‘‘Rule 204A–1 (17 CFR 275.204A–1) under the Investment Advisers Act of 1940’’ (15 U.S.C. 80b– 1 et seq.) Rule 204A–1 (the ‘‘Code of Ethics Rule’’) requires investment advisers registered with the Commission to (i) set forth standards of conduct expected of advisory personnel (including compliance with the federal securities laws); (ii) safeguard material nonpublic information about client transactions; and (iii) require the adviser’s ‘‘access persons’’ to report their personal securities transactions, including transactions in any mutual fund managed by the adviser. The Code of Ethics Rule requires access persons to obtain the adviser’s approval before investing in an initial public offering or private placement. The Code of Ethics Rule also requires prompt reporting, to 12 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 19:05 Feb 16, 2016 Jkt 238001 the adviser’s chief compliance officer or another person designated in the code of ethics, of any violations of the code. Finally, the Code of Ethics Rule requires the adviser to provide each supervised person with a copy of the code and any amendments, and require the supervised persons to acknowledge, in writing, their receipt of these copies. The purposes of the information collection requirements are to: (i) Ensure that advisers maintain codes of ethics applicable to their supervised persons; (ii) provide advisers with information about the personal securities transactions of their access persons for purposes of monitoring such transactions; (iii) provide advisory clients with information with which to evaluate advisers’ codes of ethics; and (iv) assist the Commission’s examination staff in assessing the adequacy of advisers’ codes of ethics and assessing personal trading activity by advisers’ supervised persons. The respondents to this information collection are investment advisers registered with the Commission. The Commission has estimated that compliance with rule 204A–1 imposes a burden of approximately 118 hours per adviser annually for an estimated total annual burden of 1,418,703 hours. An agency may not conduct or sponsor a collection of information unless it displays a currently valid OMB control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, C/O Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email to: PRA_Mailbox@sec.gov. PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 Dated: February 10, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–03111 Filed 2–16–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 15a–6, SEC File No. 270–0329, OMB Control No. 3235–0371. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 15a–6, (17 CFR 240.15a–6), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 15a–6 provides conditional exemptions from the requirement to register as a broker-dealer pursuant to Section 15 of the Exchange Act (15 U.S.C. 78o) for foreign broker-dealers that engage in certain specified activities involving U.S. persons. In particular, Rule 15a–6(a)(3) provides an exemption from broker-dealer registration for foreign broker-dealers that solicit and effect transactions with or for U.S. institutional investors or major U.S. institutional investors through a registered broker-dealer, provided that the U.S. broker-dealer, among other things, obtains certain information about, and consents to service of process from, the personnel of the foreign broker-dealer involved in such transactions, and maintains certain records in connection therewith. These requirements are intended to ensure (a) that the registered brokerdealer will receive notice of the identity of, and has reviewed the background of, foreign personnel who will contact U.S. investors, (b) that the foreign brokerdealer and its personnel effectively may be served with process in the event enforcement action is necessary, and (c) that the Commission has ready access to information concerning these persons and their U.S. securities activities. Commission staff estimates that approximately 2,000 U.S. registered E:\FR\FM\17FEN1.SGM 17FEN1

Agencies

[Federal Register Volume 81, Number 31 (Wednesday, February 17, 2016)]
[Notices]
[Pages 8109-8110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03127]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77103; File No. SR-FINRA-2015-029]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on Proceedings To Determine Whether To Approve or 
Disapprove a Proposed Rule Change To Adopt FINRA Rule 3210 (Accounts at 
Other Broker-Dealers and Financial Institutions), as Modified by 
Partial Amendment No. 1, in the Consolidated FINRA Rulebook

February 10, 2016.
    On July 31, 2015, 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 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to adopt a new, consolidated rule 
addressing accounts opened or established by associated persons of 
members at firms other than the firm with which they are associated.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

    The proposed rule change was published for comment in the Federal 
Register on August 14, 2015.\3\ The Commission received four comment 
letters in response to the proposal.\4\ On November 10, 2015, FINRA 
responded to the comments and filed Partial Amendment No. 1 to the 
existing proposal.\5\ On November 12, 2015, the Commission issued an 
order instituting proceedings pursuant to Exchange Act section 
19(b)(2)(B) \6\ to determine whether to approve or disapprove the 
proposed rule change, as modified by Partial Amendment No. 1. The order 
was published in the Federal Register on November 18, 2015.\7\ The 
Commission received one (1) comment letter in response to the Order 
Instituting Proceedings.\8\
---------------------------------------------------------------------------

    \3\ See Exchange Act Rel. No. 75655 (Aug. 10, 2015), 80 FR 48941 
(Aug. 14, 2015). The comment period closed on September 4, 2015.
    \4\ See Letters from Eric Arnold and Clifford Kirsch, Sutherland 
Asbill & Brennan LLP (for the Committee of Annuity Insurers), dated 
September 4, 2015; Michael J. Hogan, President and Chief Executive 
Officer, FOLIOfn Investments, Inc., dated September 4, 2015; Joseph 
C. Peiffer, President, Public Investors Arbitration Bar Association, 
dated September 3, 2015; and Kevin Zambrowicz, Associate General 
Counsel & Managing Director, and Stephen Vogt, Assistant Vice 
President & Assistant General Counsel, Securities Industry and 
Financial Markets Association, dated September 3, 2015. Comment 
letters are available at www.sec.gov.
    \5\ See Letter from Patrice Gliniecki, Senior Vice President and 
Deputy General Counsel, FINRA, to the Commission, dated November 10, 
2015. FINRA's letter and text of Partial Amendment No. 1 are 
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.
    \6\ 15 U.S.C. 78s(b)(2)(B) (if the Commission does not approve 
or disapprove a proposed rule change under Exchange Act section 
19(b)(2)(A) (i.e., within 90 days of publication of notice of the 
filing of the proposed rule change in the Federal Register (the 
``Publication Date'')), the Commission shall institute proceedings 
to determine whether to approve or disapprove the proposed rule 
change (``Proceedings'')).
    \7\ See Exchange Act Release No. 76430 (Nov. 12, 2015), 80 FR 
72118 (Nov. 18, 2015) (Order Instituting Proceedings To Determine 
Whether To Approve or Disapprove Proposed Rule Change to Adopt FINRA 
Rule 3210 (Accounts at Other Broker-Dealers and Financial 
Institutions), as Modified by Partial Amendment No. 1) (``Order 
Instituting Proceedings''). The comment period closed on December 9, 
2015.
    \8\ See Letter from Laura Crosby-Brown, dated November 13, 2015. 
Comment letters are available at www.sec.gov.
---------------------------------------------------------------------------

    Exchange Act section 19(b)(2)(B)(ii)(I) \9\ provides that the 
Commission shall approve or disapprove a proposed rule change in 
Proceedings within 180 days after the Publication Date, or within a 
longer period up to 240 days after the Publication Date if: (1) The 
Commission determines that a longer period is appropriate and publishes 
the reasons for so determining,\10\ or (2) the applicable self-
regulatory organization consents to the extension.\11\ The 180th day 
for this filing (File Number SR-FINRA-2015-029) is February 10, 2016.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \10\ Exchange Act section 19(b)(2)(B)(ii)(II)(aa), 15 U.S.C. 
78s(b)(2)(B)(ii)(II)(aa).
    \11\ Exchange Act section 19(b)(2)(B)(ii)(II)(bb), 15 U.S.C. 
78s(b)(2)(B)(ii)(II)(bb).
---------------------------------------------------------------------------

    The Commission is extending this 180-day time period. The 
Commission finds that it is appropriate to designate a longer period 
within which to issue an order approving or disapproving the

[[Page 8110]]

proposed rule change so that it has sufficient time to consider the 
proposed rule change, as amended by Partial Amendment No.1, comment 
letters, and FINRA's submission. Accordingly, the Commission, pursuant 
to Exchange Act section 19(b)(2), designates April 8, 2016, as the date 
by which the Commission shall approve or disapprove the proposed rule 
---------------------------------------------------------------------------
change.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-03127 Filed 2-16-16; 8:45 am]
BILLING CODE 8011-01-P
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