Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Fee for the Regulatory Element of Continuing Education, 46133-46135 [2016-16722]
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Federal Register / Vol. 81, No. 136 / Friday, July 15, 2016 / Notices
as the proposal provides, when it
believes it is necessary in the interests
of a fair and orderly market. The
Commission believes that the ability to
exercise such discretion can be
important in situations when, for
example, the primary market for an
options class is unable to open due to
a systems or technical issue or if some
other unanticipated circumstance arises.
The Commission notes that it has
previously approved provisions of this
kind as consistent with the Act.32
The Commission further believes that
the proposed rule change will provide
transparency and enhance investors’
understanding of the operation of the
Exchange’s opening process. For these
reasons, the Commission believes that
the proposed rule change, as modified
by Amendment No. 1, is consistent with
the Act.
IV. Solicitation of Comments on
Amendment No. 1
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether Amendment No. 1 to
the proposed rule change is consistent
with the Exchange 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 rulecomments@sec.gov. Please include File
Number SR–NYSEARCA–2016–49 on
the subject line.
sradovich on DSK3GMQ082PROD with NOTICES
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–NYSEARCA–2016–49. 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
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–
NYSEARCA–2016–49 and should be
submitted by August 5, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.35
Robert W. Errett,
Deputy Secretary.
V. Accelerated Approval of Proposed
Rule Change, as Modified by
Amendment No. 1
July 11, 2016.
The Commission finds good cause to
approve the proposed rule change, as
modified by Amendment No. 1, prior to
the 30th day after the date of
publication of notice of Amendment
No. 1 in the Federal Register. As
discussed above, Amendment No. 1
clarifies how the Exchange would
determine the opening price upon
dissemination of an NBBO from OPRA,
an in particular specifies the
circumstances in which ‘‘at or nearest to
the midpoint’’ pricing is utilized during
the Auction Process. Furthermore, the
Commission believes it is appropriate to
have these changes incorporated into
the rules of the Exchange concurrently
with the changes discussed in the
original filing.
Accordingly, the Commission finds
good cause, pursuant to Section 19(b)(2)
of the Exchange Act,33 to approve the
proposed rule change, as modified by
Amendment No. 1 on an accelerated
basis.
VI. Conclusion
IT IS THEREFORE ORDERED,
pursuant to Section 19(b)(2) of the
Exchange Act,34 that the proposed rule
change (SR–NYSEArca–2016–49), as
modified by Amendment No. 1 thereto,
be, and it hereby is, approved on an
accelerated basis.
[FR Doc. 2016–16715 Filed 7–14–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78281; File No. SR–FINRA–
2016–025]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Relating to the Fee for
the Regulatory Element of Continuing
Education
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 1,
2016, 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
‘‘establishing or changing a due, fee or
other charge’’ under Section
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
4(f)(2) 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 proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
FINRA is proposing to amend Section
4 of Schedule A to the FINRA By-Laws
to address the transition of the
Regulatory Element of Continuing
Education (‘‘CE’’) to the FINRA CE
Online System®.
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.
35 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
32 See, e.g., Securities Exchange Act Release No.
71651 (March 5, 2014), 79 FR 13693 (March 11,
2014) (SR–BATS–2014–003).
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46133
PO 00000
33 15
34 15
U.S.C. 78s(b)(2).
U.S.C. 78s(b)(2).
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46134
Federal Register / Vol. 81, No. 136 / Friday, July 15, 2016 / Notices
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
sradovich on DSK3GMQ082PROD with NOTICES
1. Purpose
As part of the transition to CE Online,
FINRA is phasing out test center
delivery of the CE Regulatory Element.5
Specifically, effective July 1, 2016, the
option to complete the Regulatory
Element at a test center will no longer
be available, and participants must
complete their session using the CE
Online System with the exception of
participants who, pursuant to the
Americans with Disabilities Act,6 may
need accommodations in completing
their CE session due to a disability.
Participants who need such
accommodations may apply for an
accommodation and complete their CE
Regulatory Element session at a test
center.7
Currently, pursuant to Section 4(f) of
Schedule A to the FINRA By-Laws,
FINRA assesses a session fee of $100 to
each participant for each scheduled
session to complete the Regulatory
Element at a test center, and it assesses
a session fee of $55 to each participant
who completes the Regulatory Element
through the CE Online System. In
conjunction with phasing out test center
delivery of the Regulatory Element,
FINRA is proposing to amend Section
4(f) of Schedule A to the FINRA ByLaws to assess a session fee of $55 for
the Regulatory Element regardless of
whether the session is completed at a
test center or through the CE Online
System. However, as noted above, only
participants who apply for an
accommodation would be eligible to
5 See Regulatory Notice 15–28 (August 2015); see
also Information Notice, May 16, 2016 (Elimination
of Continuing Education Delivery at Testing
Centers).
6 Americans with Disabilities Act of 1990, Public
Law 101–336, 104 Stat. 328 (1990).
7 See FINRA’s CE Online Delivery
Accommodation Web page, available at https://
www.finra.org/industry/accommodationscontinuing-education-ce-online-participants.
VerDate Sep<11>2014
19:03 Jul 14, 2016
Jkt 238001
complete their CE Regulatory Element
session at a test center.
In addition, Section 4(c) of Schedule
A to the FINRA By-Laws includes
additional fees for taking the Regulatory
Element session outside the United
States, failing to appear on time for an
appointment or cancelling or
rescheduling an appointment. FINRA is
proposing to make technical changes to
Sections 4(c)(3) and (4) of Schedule A
to the FINRA By-Laws to clarify that
such additional fees are only applicable
to test center-based sessions. Further,
because these additional fees are based
on the initial session fee, which FINRA
is proposing to reduce, the proposed
rule change would result in a reduction
of the total fees charged under these
sections for completing the Regulatory
Element at a test center.
FINRA has filed the proposed rule
change for immediate effectiveness.
2. Statutory Basis
FINRA believes that the proposed rule
change is consistent with the provisions
of Section 15A(b)(5) of the Act,8 which
requires, among other things, that
FINRA rules provide for the equitable
allocation of reasonable dues, fees and
other charges among members and
issuers and other persons using any
facility or system that FINRA operates
or controls. The proposed rule change
reduces the session fee for participants
who are eligible to complete their CE
Regulatory Element session at a test
center, and it aligns the session fee for
such participants with the session fee
for participants who complete their
session through the CE Online System.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA 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 purposes of the Act. As described
above, participants who need an
accommodation pursuant to the
Americans with Disabilities Act may
apply for an accommodation and
complete their CE Regulatory Element
session at a test center. FINRA is
proposing to reduce the session fee for
a test center-based session of the CE
Regulatory Element for such
participants.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
PO 00000
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 9 and paragraph (f)(2) of Rule
19b–4 thereunder.10 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 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–
FINRA–2016–025 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–FINRA–2016–025. 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.,
9 15
8 15
U.S.C. 78o–3(b)(5).
Frm 00091
Fmt 4703
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
10 17
Sfmt 4703
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Federal Register / Vol. 81, No. 136 / Friday, July 15, 2016 / Notices
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at the principal
office of FINRA. 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–FINRA–
2016–025, and should be submitted on
or before August 5, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–16722 Filed 7–14–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78286; File No. SR–BX–
2016–032]
Self-Regulatory Organizations;
NASDAQ BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the
Automated Removal of Quotes
July 11, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 1,
2016, NASDAQ BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
sradovich on DSK3GMQ082PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Chapter VII, Section 6(f), entitled
‘‘Automated Removal of Quotes.’’
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqomxbx.cchwall
street.com/, at the principal office of the
Exchange, and at the Commission’s
Public Reference Room.
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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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
Exchange 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. The
Exchange 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
The Exchange proposes to amend BX
Rules at Chapter VII, Section 6(f),
entitled ‘‘Automated Removal of
Quotes’’ to modify the minimum
Specified Percentage (as described
below). A BX Options Market Maker 3
sets the Specified Percentage to enhance
its risk management for an underlying
security as market conditions warrant,
based on its own risk tolerance level
and quoting behavior. The Exchange
proposes to permit the BX Options
Market Maker to set the Specified
Percentage more broadly, no less than
1%, with this rule change. The
Exchange also proposes to replace the
definition of ‘‘disseminated size’’ 4 with
a quantitative description to add
transparency with respect to the
calculation of Series Percentage.
Background
Today, Chapter VII, Section 6(f)
permits BX Options Market Makers to
monitor risk arising from multiple
executions across multiple options
series of a single underlying security. A
BX Options Market Maker may provide
a specified time period and a specified
percentage by which the Exchange’s
System will automatically remove a BX
Options Market Maker’s quotes in all
series of an underlying security
3 The term ‘‘BX Options Market Maker’’ or
‘‘Options Market Maker’’ (herein ‘‘BX Options
Market Maker’’) means an Options Participant
registered with the Exchange for the purpose of
making markets in options contracts traded on the
Exchange and that is vested with the rights and
responsibilities specified in Chapter VII of these
Rules.’’ [sic] See BX Rules at Chapter I, Section
1(a)(9).
4 See Securities Exchange Act Release No. 76317
(October 30, 2015), 80 FR 68586 at 68587
(November 5, 2015) (SR–BX–2015–060). The
Exchange defined disseminated size in this rule
change in footnote 12, as the original size quoted
by the Participant.
PO 00000
Frm 00092
Fmt 4703
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46135
submitted through designated BX
protocols, as specified by the Exchange,
during a specified time period not to
exceed 15 seconds (‘‘Percentage-Based
Specified Time Period’’).5
For each series in an option, the
System determines: (i) The percentage
that the number of contracts executed in
that series represents relative to the BX
Options Market Maker’s disseminated
size of each side in that series (‘‘Series
Percentage’’); and (ii) the sum of the
Series Percentage in the option issue
(‘‘Issue Percentage’’). The Exchange
proposes herein to replace the term
‘‘disseminated size’’ with the more
precise phrase ‘‘number of contracts
available at the time of execution plus
the number of contracts executed in
unexpired prior executions.’’
The System tracks and calculates the
net impact of positions in the same
option issue during the PercentageBased Specified Time Period.
Specifically, the System tracks
transactions, i.e., the sum of buy-side
put percentages, the sum of sell-side put
percentages, the sum of buy-side call
percentages, and the sum of sell-side
call percentages. The System then
calculates the absolute value of the
difference between the buy-side puts
and the sell-side puts plus the absolute
value of the difference between the buyside calls and the sell-side calls. If the
Issue Percentage, rounded to the nearest
integer, equals or exceeds a percentage
established by the BX Options Market
Maker, not less than 100% (‘‘Specified
Percentage’’), the System automatically
removes a BX Options Market Maker’s
quotes in all series of an underlying
security submitted through designated
BX protocols, as specified by the
Exchange, during the Percentage-Based
Specified Time.
The Percentage-Based Specified Time
Period commences for an option every
time an execution occurs in any series
in such option and continues until the
System removes quotes as described in
Chapter VII, Section 6(f)(iv) or (v) or the
Percentage-Based Specified Time Period
expires. The Percentage-Based Specified
Time Period operates on a rolling basis
among all series in an option in that
there may be multiple Percentage-Based
Specified Time Periods occurring
simultaneously and such PercentageBased Specified Time periods may
overlap.
Proposal
The Exchange proposes to lower the
minimum Specified Percentage, which
5 A specified time period commences for an
option when a transaction occurs in any series in
such option.
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]]>Agencies
[Federal Register Volume 81, Number 136 (Friday, July 15, 2016)]
[Notices]
[Pages 46133-46135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-16722]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78281; File No. SR-FINRA-2016-025]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change Relating to the Fee for the Regulatory Element of
Continuing Education
July 11, 2016.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on July 1, 2016, 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 ``establishing or changing a
due, fee or other charge'' under Section 19(b)(3)(A)(ii) of the Act \3\
and Rule 19b-4(f)(2) 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 proposed rule
change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
FINRA is proposing to amend Section 4 of Schedule A to the FINRA
By-Laws to address the transition of the Regulatory Element of
Continuing Education (``CE'') to the FINRA CE Online System[supreg].
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.
[[Page 46134]]
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
As part of the transition to CE Online, FINRA is phasing out test
center delivery of the CE Regulatory Element.\5\ Specifically,
effective July 1, 2016, the option to complete the Regulatory Element
at a test center will no longer be available, and participants must
complete their session using the CE Online System with the exception of
participants who, pursuant to the Americans with Disabilities Act,\6\
may need accommodations in completing their CE session due to a
disability. Participants who need such accommodations may apply for an
accommodation and complete their CE Regulatory Element session at a
test center.\7\
---------------------------------------------------------------------------
\5\ See Regulatory Notice 15-28 (August 2015); see also
Information Notice, May 16, 2016 (Elimination of Continuing
Education Delivery at Testing Centers).
\6\ Americans with Disabilities Act of 1990, Public Law 101-336,
104 Stat. 328 (1990).
\7\ See FINRA's CE Online Delivery Accommodation Web page,
available at https://www.finra.org/industry/accommodations-continuing-education-ce-online-participants.
---------------------------------------------------------------------------
Currently, pursuant to Section 4(f) of Schedule A to the FINRA By-
Laws, FINRA assesses a session fee of $100 to each participant for each
scheduled session to complete the Regulatory Element at a test center,
and it assesses a session fee of $55 to each participant who completes
the Regulatory Element through the CE Online System. In conjunction
with phasing out test center delivery of the Regulatory Element, FINRA
is proposing to amend Section 4(f) of Schedule A to the FINRA By-Laws
to assess a session fee of $55 for the Regulatory Element regardless of
whether the session is completed at a test center or through the CE
Online System. However, as noted above, only participants who apply for
an accommodation would be eligible to complete their CE Regulatory
Element session at a test center.
In addition, Section 4(c) of Schedule A to the FINRA By-Laws
includes additional fees for taking the Regulatory Element session
outside the United States, failing to appear on time for an appointment
or cancelling or rescheduling an appointment. FINRA is proposing to
make technical changes to Sections 4(c)(3) and (4) of Schedule A to the
FINRA By-Laws to clarify that such additional fees are only applicable
to test center-based sessions. Further, because these additional fees
are based on the initial session fee, which FINRA is proposing to
reduce, the proposed rule change would result in a reduction of the
total fees charged under these sections for completing the Regulatory
Element at a test center.
FINRA has filed the proposed rule change for immediate
effectiveness.
2. Statutory Basis
FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(5) of the Act,\8\ which requires, among
other things, that FINRA rules provide for the equitable allocation of
reasonable dues, fees and other charges among members and issuers and
other persons using any facility or system that FINRA operates or
controls. The proposed rule change reduces the session fee for
participants who are eligible to complete their CE Regulatory Element
session at a test center, and it aligns the session fee for such
participants with the session fee for participants who complete their
session through the CE Online System.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78o-3(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
FINRA 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 purposes of the Act. As described above,
participants who need an accommodation pursuant to the Americans with
Disabilities Act may apply for an accommodation and complete their CE
Regulatory Element session at a test center. FINRA is proposing to
reduce the session fee for a test center-based session of the CE
Regulatory Element for such participants.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \9\ and paragraph (f)(2) of Rule 19b-4
thereunder.\10\ 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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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:
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-FINRA-2016-025 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-FINRA-2016-025. 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.,
[[Page 46135]]
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of FINRA. 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-FINRA-2016-025, and should
be submitted on or before August 5, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-16722 Filed 7-14-16; 8:45 am]
BILLING CODE 8011-01-P
