Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Technical and Other Non-Substantive Changes Within FINRA Rules, 1279-1280 [2018-00213]
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Federal Register / Vol. 83, No. 7 / Wednesday, January 10, 2018 / Notices
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Dated: January 5, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00267 Filed 1–9–18; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Make Technical and
Other Non-Substantive Changes
Within FINRA Rules
daltland on DSKBBV9HB2PROD with NOTICES
January 4, 2018.
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 December
22, 2017, Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
18:23 Jan 09, 2018
Jkt 244001
FINRA is proposing to make technical
and other non-substantive changes
within FINRA rules.
The text of the proposed rule change
is available on FINRA’s website at
https://www.finra.org, at the principal
office of FINRA 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,
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.
1. Purpose
[Release No. 34–82441; File No. SR–FINRA–
2017–036]
2 17
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
1 15
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.
On September 13, 2016, the SEC
approved changes to FINRA Rules 2210
(Communications with the Public), 2213
(Requirements for the Use of Bond
Mutual Fund Volatility Ratings), and
2214 (Requirements for the Use of
Investment Analysis Tools) that, among
other things, eliminated the filing
requirements for investment analysis
tool report templates and retail
communications concerning such tools
and instead requires members to
provide FINRA staff with access to
investment analysis tools upon request.4
The implementation date for the
changes was January 9, 2017.5
3 17
CFR 240.19b–4(f)(6).
Securities Exchange Act Release No. 78823
(September 13, 2016), 81 FR 64240 (September 19,
2016) (Order Approving File No. SR–FINRA–2016–
018).
5 See Regulatory Notice 16–41 (October 2016).
4 See
PO 00000
Frm 00047
Fmt 4703
Sfmt 4703
1279
The proposed rule change would
delete FINRA Rule 2214.03 to eliminate
the requirement to re-file a writtenreport template or retail communication
concerning an investment analysis tool,
and conform the rule to changes
approved in SR–FINRA–2016–018. In
addition, the proposed rule change
would renumber FINRA Rule 2214.04
through 2214.07 as 2214.03 through
2214.06, accordingly.
Also, the proposed rule change would
make technical changes to FINRA Rule
7730 (Trade Reporting and Compliance
Engine (TRACE)). On July 11, 2017, the
SEC approved SR–FINRA–2017–015,
which added the definition of ‘‘End-ofDay TRACE Transaction File’’ to Rule
7730 as paragraph (g)(6). On August 4,
2017, the SEC approved SR–FINRA–
2017–021, which added ‘‘TRACE
Security Activity Report’’ also as
paragraph (g)(6). The proposed rule
change would redesignate Rule
7730(g)(6) (TRACE Security Activity
Report) as 7730(g)(7) to avoid
duplication.6
Finally, the proposed rule change
would update a reference in FINRA
Rule 9217 (Violations Appropriate for
Disposition Under Plan Pursuant to SEA
Rule 19b–1(c)(2)) to reflect that FINRA
Rule 7430 (Synchronization of Member
Business Clocks) has been renumbered
as FINRA Rule 4590 (Synchronization of
Member Business Clocks) to conform
with SEC approval in SR–FINRA–2016–
005.7
FINRA has filed the proposed rule
change for immediate effectiveness. The
implementation date for the proposed
changes to FINRA Rules 2214 and 9217
will be January 22, 2018. The
implementation date for the proposed
changes to FINRA Rule 7730 will be
February 1, 2018, to coincide with the
implementation date of earlier changes
to the rule.8
2. Statutory Basis
FINRA believes that the proposed rule
change is consistent with the provisions
of Section 15A(b)(6) of the Act,9 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
6 See Securities Exchange Act Release No. 81114
(July 11, 2017), 82 FR 32728 (July 17, 2017) (Order
Approving File No. SR–FINRA–2017–015) and
Securities Exchange Act Release No. 81318 (August
4, 2017), 82 FR 37484 (August 10, 2017) (Order
Approving File No. SR–FINRA–2017–021).
7 See Securities Exchange Act Release No. 77565
(April 8, 2016), 81 FR 22136 (April 14, 2016) (Order
Approving File No. SR–FINRA–2016–005); see also
Regulatory Notice 16–23 (July 2016).
8 See Regulatory Notice 17–36 (November 2017).
9 15 U.S.C. 78o–3(b)(6).
E:\FR\FM\10JAN1.SGM
10JAN1
1280
Federal Register / Vol. 83, No. 7 / Wednesday, January 10, 2018 / Notices
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 by
deleting the re-filing requirements in
Rule 2214.03 to conform to changes
approved in SR–FINRA–2016–018 and
by making technical updates in Rules
7730(g)(6) and 9217.
Electronic Comments
DEPARTMENT OF STATE
• 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–2017–036 on the subject line.
[Public Notice: 10262]
B. Self-Regulatory Organization’s
Statement on Burden on Competition
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
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 10 and Rule 19b–
4(f)(6) thereunder.11
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.
daltland on DSKBBV9HB2PROD with NOTICES
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:
10 15
11 17
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
VerDate Sep<11>2014
18:23 Jan 09, 2018
Paper Comments
All submissions should refer to File
Number SR–FINRA–2017–036. 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 website (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 website 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. Persons
submitting comments are cautioned that
we do not redact or edit personal
identifying information from comment
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–FINRA–
2017–036, and should be submitted on
or before January 31, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00213 Filed 1–9–18; 8:45 am]
BILLING CODE 8011–01–P
12 17
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CFR 200.30–3(a)(12).
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Call for Expert Reviewers To
Contribute to the U.S. Government
Review of the Intergovernmental Panel
on Climate Change (IPCC) Special
Report on the Impacts of Global
Warming of 1.5 ≥C Above Preindustrial
Levels and Related Global Greenhouse
Gas Emission Pathways in the Context
of Strengthening the Global Response
to the Threat of Climate Change,
Sustainable Development and Efforts
to Eradicate Poverty. (Special Report
on Global Warming of 1.5 ≥C)
The United States Global Change
Research Program (USGCRP), in
cooperation with the Department of
State, requests expert review of the
second-order draft of the IPCC Special
Report on Global Warming of 1.5 °C,
including the first draft of its Summary
for Policymakers (SPM).
The United Nations Environment
Programme (UNEP) and the World
Meteorological Organization (WMO)
established the IPCC in 1988. As
reflected in its governing documents
(the IPCC’s ‘‘principles and
procedures’’), the role of the IPCC is to
assess on a comprehensive, objective,
open, and transparent basis the
scientific, technical, and socioeconomic information relevant to
understanding the scientific basis of risk
of human-induced climate change, its
potential impacts and options for
adaptation and mitigation. IPCC reports
should be neutral with respect to policy,
although they may need to deal
objectively with scientific, technical,
and socio-economic factors relevant to
the application of particular policies.
The principles and procedures for the
IPCC and its preparation of reports can
be found at: https://www.ipcc.ch/pdf/
ipcc-principles/ipcc-principles.pdf and
https://ipcc.ch/pdf/ipcc-principles/ipccprinciples-appendix-a-final.pdf. At the
44th Session of the Panel (Bangkok,
Thailand, October 17–20, 2016), the
IPCC approved the outline for the
Special Report on Global Warming of
1.5C. Writing team nominations were
submitted by the IPCC deadline of
December 11, 2016, and author
appointments made on January 23,
2017. The Table of Contents for the
Special Report can be viewed here:
https://ipcc.ch/meetings/session44/l2_
adopted_outline_sr15.pdf. As reflected
in the IPCC’s principles and procedures,
review is an essential part of the IPCC
process. Since the IPCC is an
intergovernmental body, review of IPCC
documents involves both peer review by
experts and review by governments. The
E:\FR\FM\10JAN1.SGM
10JAN1
]]>Agencies
[Federal Register Volume 83, Number 7 (Wednesday, January 10, 2018)]
[Notices]
[Pages 1279-1280]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-00213]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82441; File No. SR-FINRA-2017-036]
Self-Regulatory Organizations; Financial Industry Regulatory
Authority, Inc.; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Make Technical and Other Non-Substantive
Changes Within FINRA Rules
January 4, 2018.
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 December 22, 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 Substance
of the Proposed Rule Change
FINRA is proposing to make technical and other non-substantive
changes within FINRA rules.
The text of the proposed rule change is available on FINRA's
website at https://www.finra.org, at the principal office of FINRA 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, 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
On September 13, 2016, the SEC approved changes to FINRA Rules 2210
(Communications with the Public), 2213 (Requirements for the Use of
Bond Mutual Fund Volatility Ratings), and 2214 (Requirements for the
Use of Investment Analysis Tools) that, among other things, eliminated
the filing requirements for investment analysis tool report templates
and retail communications concerning such tools and instead requires
members to provide FINRA staff with access to investment analysis tools
upon request.\4\ The implementation date for the changes was January 9,
2017.\5\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 78823 (September 13,
2016), 81 FR 64240 (September 19, 2016) (Order Approving File No.
SR-FINRA-2016-018).
\5\ See Regulatory Notice 16-41 (October 2016).
---------------------------------------------------------------------------
The proposed rule change would delete FINRA Rule 2214.03 to
eliminate the requirement to re-file a written-report template or
retail communication concerning an investment analysis tool, and
conform the rule to changes approved in SR-FINRA-2016-018. In addition,
the proposed rule change would renumber FINRA Rule 2214.04 through
2214.07 as 2214.03 through 2214.06, accordingly.
Also, the proposed rule change would make technical changes to
FINRA Rule 7730 (Trade Reporting and Compliance Engine (TRACE)). On
July 11, 2017, the SEC approved SR-FINRA-2017-015, which added the
definition of ``End-of-Day TRACE Transaction File'' to Rule 7730 as
paragraph (g)(6). On August 4, 2017, the SEC approved SR-FINRA-2017-
021, which added ``TRACE Security Activity Report'' also as paragraph
(g)(6). The proposed rule change would redesignate Rule 7730(g)(6)
(TRACE Security Activity Report) as 7730(g)(7) to avoid duplication.\6\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 81114 (July 11,
2017), 82 FR 32728 (July 17, 2017) (Order Approving File No. SR-
FINRA-2017-015) and Securities Exchange Act Release No. 81318
(August 4, 2017), 82 FR 37484 (August 10, 2017) (Order Approving
File No. SR-FINRA-2017-021).
---------------------------------------------------------------------------
Finally, the proposed rule change would update a reference in FINRA
Rule 9217 (Violations Appropriate for Disposition Under Plan Pursuant
to SEA Rule 19b-1(c)(2)) to reflect that FINRA Rule 7430
(Synchronization of Member Business Clocks) has been renumbered as
FINRA Rule 4590 (Synchronization of Member Business Clocks) to conform
with SEC approval in SR-FINRA-2016-005.\7\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 77565 (April 8,
2016), 81 FR 22136 (April 14, 2016) (Order Approving File No. SR-
FINRA-2016-005); see also Regulatory Notice 16-23 (July 2016).
---------------------------------------------------------------------------
FINRA has filed the proposed rule change for immediate
effectiveness. The implementation date for the proposed changes to
FINRA Rules 2214 and 9217 will be January 22, 2018. The implementation
date for the proposed changes to FINRA Rule 7730 will be February 1,
2018, to coincide with the implementation date of earlier changes to
the rule.\8\
---------------------------------------------------------------------------
\8\ See Regulatory Notice 17-36 (November 2017).
---------------------------------------------------------------------------
2. Statutory Basis
FINRA believes that the proposed rule change is consistent with the
provisions of Section 15A(b)(6) of the Act,\9\ 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
[[Page 1280]]
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 by deleting the re-filing
requirements in Rule 2214.03 to conform to changes approved in SR-
FINRA-2016-018 and by making technical updates in Rules 7730(g)(6) and
9217.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------
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 \10\ and Rule 19b-
4(f)(6) thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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 [email protected]. Please include
File Number SR-FINRA-2017-036 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-2017-036. 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 website (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 website 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. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-FINRA-2017-036, and should be submitted
on or before January 31, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-00213 Filed 1-9-18; 8:45 am]
BILLING CODE 8011-01-P
