Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update Rule Cross-References and Make Non-Substantive Technical Changes to Certain FINRA Rules, 12387-12389 [2017-04033]
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Federal Register / Vol. 82, No. 40 / Thursday, March 2, 2017 / Notices
MFS InterMarket Income Trust I [File
No. 811–05851]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On September 25,
2015, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Applicant has
retained approximately $180,000 in
cash to pay for contingent liabilities for
pending litigation. Once the litigation is
resolved, amount remaining in the
fund’s litigation reserve will be
distributed pro rata by ownership
interest among holders of record of
shares of common stock of the fund that
were outstanding as of the record date
for final liquidation distribution.
Expenses of $57,459 incurred in
connection with the liquidation were
paid by applicant.
Filing Date: The application was filed
on February 6, 2017.
Applicant’s Address: c/o
Massachusetts Financial Services
Company, 111 Huntington Avenue,
Boston, Massachusetts 02199.
sradovich on DSK3GMQ082PROD with NOTICES
Broadmark Funds [File No. 811–22769]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. The applicant has
transferred its assets to Salient MF Trust
and, on December 12, 2014, made a final
distribution to its shareholders based on
net asset value. Expenses of
approximately $199,800 incurred in
connection with the reorganization were
paid by applicant’s investment adviser
and the acquiring fund’s investment
adviser.
Filing Date: The application was filed
on February 9, 2017.
Applicant’s Address: 101 California
Street, 16th Floor, San Francisco,
California 94111.
Stewart Capital Mutual Funds [File No.
811–21955]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On November 18,
2016, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of $287,506
incurred in connection with the
liquidation were paid by applicant’s
investment adviser.
Filing Date: The application was filed
on February 14, 2017.
Applicant’s Address: 800
Philadelphia Street, Indiana,
Pennsylvania 15701.
Partners Group Private Equity (TEI),
LLC [File No. 811–22379]
Summary: Applicant, a closed-end
investment company, seeks an order
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16:13 Mar 01, 2017
Jkt 241001
declaring that it has ceased to be an
investment company. On January 1,
2017, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of
approximately $23,000 incurred in
connection with the liquidation were
paid by Partners Group Private Equity
(Master Fund), LLC.
Filing Date: The application was filed
on February 16, 2017.
Applicant’s Address: 1114 Avenue of
the Americas, 37th Floor, New York,
New York 10036.
12387
Filing Date: The application was filed
on February 16, 2017.
Applicant’s Address: 1114 Avenue of
the Americas, 37th Floor, New York,
New York 10036.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–04014 Filed 3–1–17; 8:45 am]
BILLING CODE 8011–01–P
Partners Group Private Equity
(Institutional TEI), LLC [File No. 811–
22443]
SECURITIES AND EXCHANGE
COMMISSION
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On January 1,
2017, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of
approximately $11,400 incurred in
connection with the liquidation were
paid by Partners Group Private Equity
(Master Fund), LLC.
Filing Date: The application was filed
on February 16, 2017.
Applicant’s Address: 1114 Avenue of
the Americas, 37th Floor, New York,
New York 10036.
[Release No. 34–80105; File No. SR–FINRA–
2017–004]
Partners Group Private Equity
(Institutional), LLC [File No. 811–
22240]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On January 1,
2017, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of
approximately $13,300 incurred in
connection with the liquidation were
paid by Partners Group Private Equity
(Master Fund), LLC.
Filing Date: The application was filed
on February 16, 2017.
Applicant’s Address: 1114 Avenue of
the Americas, 37th Floor, New York,
New York 10036.
Partners Group Private Equity, LLC
[File No. 811–22210]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. On January 1,
2017, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of
approximately $33,200 incurred in
connection with the liquidation were
paid by Partners Group Private Equity
(Master Fund), LLC.
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Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Update Rule CrossReferences and Make Non-Substantive
Technical Changes to Certain FINRA
Rules
February 24, 2017.
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 February
17, 2017, 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 ‘‘non-controversial’’ rule
change under paragraph (f)(6) of Rule
19b–4 under the Act,3 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 update crossreferences and make other nonsubstantive changes within FINRA
rules, due in part to the adoption of a
new consolidated FINRA rule.
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.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
2 17
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Federal Register / Vol. 82, No. 40 / Thursday, March 2, 2017 / 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
1. Purpose
sradovich on DSK3GMQ082PROD with NOTICES
FINRA has been developing a
consolidated rulebook (‘‘Consolidated
FINRA Rulebook’’).4 That process
involves FINRA submitting to the
Commission for approval a series of
proposed rule changes over time to
adopt rules in the Consolidated FINRA
Rulebook. The phased adoption and
implementation of those rules
necessitates periodic amendments to
update rule cross-references and other
non-substantive changes in the
Consolidated FINRA Rulebook.
The proposed rule change would
make some of those changes, as well as
other non-substantive changes unrelated
to the adoption of rules in the
Consolidated FINRA Rulebook.
First, the proposed rule change would
update rule cross-references to reflect
the adoption of FINRA Rule 3210
(Accounts At Other Broker-Dealers and
Financial Institutions), 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 SEC approved the new rule on
April 7, 2016. As part of that rule filing,
FINRA also deleted in their entirety
NASD Rule 3050, Incorporated NYSE
Rules 407, 407A, and Incorporated
4 The current FINRA rulebook consists of (1)
FINRA Rules; (2) NASD Rules; and (3) rules
incorporated from NYSE (‘‘Incorporated NYSE
Rules’’) (together, the NASD Rules and Incorporated
NYSE Rules are referred to as the ‘‘Transitional
Rulebook’’). While the NASD Rules generally apply
to all FINRA members, the Incorporated NYSE
Rules apply only to those members of FINRA that
are also members of the NYSE (‘‘Dual Members’’).
The FINRA Rules apply to all FINRA members,
unless such rules have a more limited application
by their terms. For more information about the
rulebook consolidation process, see Information
Notice, March 12, 2008 (Rulebook Consolidation
Process).
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16:13 Mar 01, 2017
Jkt 241001
NYSE Rule Interpretation 407.5 Rule
3210 will be implemented on April 3,
2017. As such, the proposed rule change
would update references to the new rule
number in FINRA Rules 0150
(Application of Rules to Exempted
Securities Except Municipal Securities),
2150 (Improper Use of Customers’
Securities or Funds; Prohibition Against
Guarantees and Sharing in Accounts),
3110 (Supervision), 3280 (Private
Securities Transactions of an Associated
Person), and 6630 (Applicability of
FINRA Rules to Securities Previously
Designated as PORTAL Securities).
Also, the proposed rule change would
update the reference to Incorporated
NYSE Rule 407 in FINRA Rule 9217
(Violations Appropriate for Disposition
Under Plan Pursuant to SEA Rule 19d–
1(c)(2)), given that, as explained more
fully in SR–FINRA–2015–029, new
FINRA Rule 3210 is the consolidated
successor to the NYSE rule.6
Furthermore, the proposed rule
change would make technical changes
to FINRA Rules 5210 (Publication of
Transactions and Quotations) 7 and 6750
(Dissemination of Transaction
Information) 8 to reflect FINRA Manual
style convention changes.
FINRA has filed the proposed rule
change for immediate effectiveness. The
implementation date for the changes to
FINRA Rule 6750 will be March 20,
2017, to coincide with the
implementation date of earlier changes
to the rule.9 The implementation date
for the proposed changes to FINRA
Rules 0150, 2150, 3110, 3280, 5210,
6630 and 9217 will be April 3, 2017.
2. Statutory Basis
FINRA believes that the proposed rule
change is consistent with the provisions
of Section 15A(b)(6) of the Act,10 which
requires, among other things, that
FINRA rules must be designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, and, in
5 See Securities Exchange Act Release No. 77550
(April 7, 2016), 81 FR 21924 (April 13, 2016) (Order
Approving File No. SR–FINRA–2015–029).
6 See supra note 5. In addition, current FINRA
Rule 9217 includes reference to Incorporated NYSE
Rule 407A. Such reference would be deleted
pursuant to the rule change. As explained more
fully in SR–FINRA–2015–029, FINRA deleted
Incorporated NYSE Rule 407A because that rule is
superseded by FINRA Rule 3210.
7 See Securities Exchange Act Release No. 79361
(November 21, 2016), 81 FR 85650 (November 28,
2016) (Notice of Filing and Immediate Effectiveness
of File No. SR–FINRA–2016–043).
8 See Securities Exchange Act Release No. 78925
(September 23, 2016), 81 FR 67023 (September 29,
2016) (Order Approving File No. SR–FINRA–2016–
023).
9 See supra note 8 for additional detail.
10 15 U.S.C. 78o–3(b)(6).
PO 00000
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Sfmt 4703
general, to protect investors and the
public interest. FINRA believes the
proposed rule change will provide
greater clarity to members and the
public regarding FINRA’s rules.
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. The
proposed rule change brings clarity and
consistency to FINRA rules without
adding any burden on firms.
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
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 11 and Rule 19b–
4(f)(6) thereunder.12
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
11 15
12 17
E:\FR\FM\02MRN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
02MRN1
Federal Register / Vol. 82, No. 40 / Thursday, March 2, 2017 / Notices
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
FINRA–2017–004 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–2017–004. 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 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–
2017–004, and should be submitted on
or before March 23, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–04033 Filed 3–1–17; 8:45 am]
BILLING CODE 8011–01–P
sradovich on DSK3GMQ082PROD with NOTICES
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
13 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
16:13 Mar 01, 2017
Jkt 241001
100 F Street NE., Washington, DC
20549–2736.
Extension:
Rule 203A–2(e), SEC File No. 270–501,
OMB Control No. 3235–0559.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 203A–2(e),1 which is entitled
‘‘Internet Investment Advisers,’’
exempts from the prohibition on
Commission registration an Internet
investment adviser who provides
investment advice to all of its clients
exclusively through computer softwarebased models or applications, termed
under the rule as ‘‘interactive Web
sites.’’ 2 These advisers generally would
not meet the statutory thresholds
currently set out in section 203A of the
Advisers Act 3—they do not manage $25
million or more in assets and do not
advise registered investment companies,
or they manage between $25 million
and $100 million in assets, do not
advise registered investment companies
or business development companies,
and are required to be registered as
investment advisers with the states in
which they maintain their principal
offices and places of business and are
subject to examination as an adviser by
such states.4 Eligibility under rule
203A–2(e) is conditioned on an adviser
maintaining in an easily accessible
place, for a period of not less than five
years from the filing of Form ADV,5 a
record demonstrating that the adviser’s
advisory business has been conducted
through an interactive Web site in
accordance with the rule.6
This record maintenance requirement
is a ‘‘collection of information’’ for PRA
1 17
CFR 275.203A–2(e).
2 Included in rule 203A–2(e) is a limited
exception to the interactive Web site requirement
which allows these advisers to provide investment
advice to fewer than 15 clients through other means
on an annual basis. 17 CFR 275.203A–2(e)(1)(i). The
rule also precludes advisers in a control
relationship with an SEC-registered Internet adviser
from registering with the Commission under the
common control exemption provided by rule 203A–
2(b) (17 CFR 275.203A–2(b)). 17 CFR 275.203A–
2(e)(1)(iii).
3 15 U.S.C. 80b–3a(a).
4 Id.
5 The five-year record retention period is a similar
recordkeeping retention period as imposed on all
advisers under rule 204–2 of the Advisers Act. See
rule 204–2 (17 CFR 275.204–2).
6 17 CFR 275.203A–2(e)(1)(ii).
PO 00000
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12389
purposes. The Commission believes that
approximately 144 advisers are
registered with the Commission under
rule 203A–2(e), which involves a
recordkeeping requirement of
approximately four burden hours per
year per adviser and results in an
estimated 576 of total burden hours (4
× 144) for all advisers.
This collection of information is
mandatory, as it is used by Commission
staff in its examination and oversight
program in order to determine
continued Commission registration
eligibility for advisers registered under
this rule. Responses generally are kept
confidential pursuant to section 210(b)
of the Advisers Act.7 Written comments
are invited on: (a) Whether the
collection of information is necessary
for the proper performance of the
functions of the Commission, including
whether the information has practical
utility; (b) The accuracy of the
Commission’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. 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.
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.
Dated: February 23, 2017.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–04022 Filed 3–1–17; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments
60-day notice and request for
comments.
ACTION:
7 15
U.S.C. 80b–10(a).
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]]>Agencies
[Federal Register Volume 82, Number 40 (Thursday, March 2, 2017)]
[Notices]
[Pages 12387-12389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-04033]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80105; File No. SR-FINRA-2017-004]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Update Rule Cross-References and Make Non-
Substantive Technical Changes to Certain FINRA Rules
February 24, 2017.
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 February 17, 2017, 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 ``non-
controversial'' rule change under paragraph (f)(6) of Rule 19b-4 under
the Act,\3\ 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\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
FINRA is proposing to update cross-references and make other non-
substantive changes within FINRA rules, due in part to the adoption of
a new consolidated FINRA rule.
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 12388]]
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
FINRA has been developing a consolidated rulebook (``Consolidated
FINRA Rulebook'').\4\ That process involves FINRA submitting to the
Commission for approval a series of proposed rule changes over time to
adopt rules in the Consolidated FINRA Rulebook. The phased adoption and
implementation of those rules necessitates periodic amendments to
update rule cross-references and other non-substantive changes in the
Consolidated FINRA Rulebook.
---------------------------------------------------------------------------
\4\ The current FINRA rulebook consists of (1) FINRA Rules; (2)
NASD Rules; and (3) rules incorporated from NYSE (``Incorporated
NYSE Rules'') (together, the NASD Rules and Incorporated NYSE Rules
are referred to as the ``Transitional Rulebook''). While the NASD
Rules generally apply to all FINRA members, the Incorporated NYSE
Rules apply only to those members of FINRA that are also members of
the NYSE (``Dual Members''). The FINRA Rules apply to all FINRA
members, unless such rules have a more limited application by their
terms. For more information about the rulebook consolidation
process, see Information Notice, March 12, 2008 (Rulebook
Consolidation Process).
---------------------------------------------------------------------------
The proposed rule change would make some of those changes, as well
as other non-substantive changes unrelated to the adoption of rules in
the Consolidated FINRA Rulebook.
First, the proposed rule change would update rule cross-references
to reflect the adoption of FINRA Rule 3210 (Accounts At Other Broker-
Dealers and Financial Institutions), 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 SEC
approved the new rule on April 7, 2016. As part of that rule filing,
FINRA also deleted in their entirety NASD Rule 3050, Incorporated NYSE
Rules 407, 407A, and Incorporated NYSE Rule Interpretation 407.\5\ Rule
3210 will be implemented on April 3, 2017. As such, the proposed rule
change would update references to the new rule number in FINRA Rules
0150 (Application of Rules to Exempted Securities Except Municipal
Securities), 2150 (Improper Use of Customers' Securities or Funds;
Prohibition Against Guarantees and Sharing in Accounts), 3110
(Supervision), 3280 (Private Securities Transactions of an Associated
Person), and 6630 (Applicability of FINRA Rules to Securities
Previously Designated as PORTAL Securities). Also, the proposed rule
change would update the reference to Incorporated NYSE Rule 407 in
FINRA Rule 9217 (Violations Appropriate for Disposition Under Plan
Pursuant to SEA Rule 19d-1(c)(2)), given that, as explained more fully
in SR-FINRA-2015-029, new FINRA Rule 3210 is the consolidated successor
to the NYSE rule.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 77550 (April 7,
2016), 81 FR 21924 (April 13, 2016) (Order Approving File No. SR-
FINRA-2015-029).
\6\ See supra note 5. In addition, current FINRA Rule 9217
includes reference to Incorporated NYSE Rule 407A. Such reference
would be deleted pursuant to the rule change. As explained more
fully in SR-FINRA-2015-029, FINRA deleted Incorporated NYSE Rule
407A because that rule is superseded by FINRA Rule 3210.
---------------------------------------------------------------------------
Furthermore, the proposed rule change would make technical changes
to FINRA Rules 5210 (Publication of Transactions and Quotations) \7\
and 6750 (Dissemination of Transaction Information) \8\ to reflect
FINRA Manual style convention changes.
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 79361 (November 21,
2016), 81 FR 85650 (November 28, 2016) (Notice of Filing and
Immediate Effectiveness of File No. SR-FINRA-2016-043).
\8\ See Securities Exchange Act Release No. 78925 (September 23,
2016), 81 FR 67023 (September 29, 2016) (Order Approving File No.
SR-FINRA-2016-023).
---------------------------------------------------------------------------
FINRA has filed the proposed rule change for immediate
effectiveness. The implementation date for the changes to FINRA Rule
6750 will be March 20, 2017, to coincide with the implementation date
of earlier changes to the rule.\9\ The implementation date for the
proposed changes to FINRA Rules 0150, 2150, 3110, 3280, 5210, 6630 and
9217 will be April 3, 2017.
---------------------------------------------------------------------------
\9\ See supra note 8 for additional detail.
---------------------------------------------------------------------------
2. Statutory Basis
FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\10\ which requires, among
other things, that FINRA rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest. FINRA believes the proposed rule change will provide
greater clarity to members and the public regarding FINRA's rules.
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\10\ 15 U.S.C. 78o-3(b)(6).
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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. The proposed rule change brings
clarity and consistency to FINRA rules without adding any burden on
firms.
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
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(6).
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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
[[Page 12389]]
Send an email to rule-comments@sec.gov. Please include
File Number SR-FINRA-2017-004 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-2017-004. 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 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-2017-004, and should
be submitted on or before March 23, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017-04033 Filed 3-1-17; 8:45 am]
BILLING CODE 8011-01-P
