Self-Regulatory Organizations; National Futures Association; Notice of Filing and Immediate Effectiveness of Proposed Technical Amendment to the Interpretive Notice to NFA Compliance Rule 2-9: Special Supervisory Requirements for Members Registered as Broker-Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934, 30206-30207 [2018-13764]

Download as PDF 30206 Federal Register / Vol. 83, No. 124 / Wednesday, June 27, 2018 / Notices H. Description of Operation of Facility Contemplated by the Proposed Amendments Not applicable. I. Terms and Conditions of Access Not applicable. J. Method of Determination and Imposition, and Amount of, Fees and Charges Not applicable. K. Method and Frequency of Processor Evaluation Not applicable. L. Dispute Resolution Not applicable. II. Rule 601(a) A. Equity Securities for Which Transaction Reports Shall be Required by the Plan Not applicable. B. Reporting Requirements Not applicable. C. Manner of Collecting, Processing, Sequencing, Making Available and Disseminating Last Sale Information Not applicable. D. Manner of Consolidation Not applicable. E. Standards and Methods Ensuring Promptness, Accuracy and Completeness of Transaction Reports Not applicable. F. Rules and Procedures Addressed to Fraudulent or Manipulative Dissemination Not applicable. G. Terms of Access to Transaction Reports Not applicable. daltland on DSKBBV9HB2PROD with NOTICES [FR Doc. 2018–13767 Filed 6–26–18; 8:45 am] BILLING CODE 8011–01–P III. Solicitation of Comments The Commission seeks general comments on the Amendment. Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed Amendment is consistent with the Act. Comments may be submitted by any of the following methods: VerDate Sep<11>2014 16:58 Jun 26, 2018 Jkt 244001 Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number File No. S7–24–89. 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 website (https://www.sec.gov/rules/ sro.shtml). Copies of the submission, all written statements with respect to the proposed Amendment that are filed with the Commission, and all written communications relating to the proposed Amendment 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 website viewing and printing at the principal office of the Plans. 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 S7–24–89 and should be submitted on or before July 18, 2018. By the Commission. Eduardo A. Aleman, Assistant Secretary. H. Identification of Marketplace of Execution Not applicable. 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 S7– 24–89 on the subject line. SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: To be published. PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, June 28, 2018. The following matter will also be considered during the 2 p.m. Closed Meeting scheduled for Thursday, June 28, 2018: Report on an investigation. CHANGES IN THE MEETING: PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 CONTACT PERSON FOR MORE INFORMATION: For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact the Office of the Secretary at (202) 551– 5400. Dated: June 22, 2018. Jill M. Peterson, Assistant Secretary. [FR Doc. 2018–13888 Filed 6–25–18; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83491; File No. SR–NFA– 2018–01] Self-Regulatory Organizations; National Futures Association; Notice of Filing and Immediate Effectiveness of Proposed Technical Amendment to the Interpretive Notice to NFA Compliance Rule 2–9: Special Supervisory Requirements for Members Registered as Broker-Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934 June 21, 2018. Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’),1 and Rule 19b–7 under the Exchange Act,2 notice is hereby given that on June 14, 2018, National Futures Association (‘‘NFA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which Items have been prepared by NFA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. On August 30, 2017, NFA also filed this proposed rule change with the Commodity Futures Trading Commission (‘‘CFTC’’) and requested that the CFTC make a determination that review of the proposed rule change of NFA is not necessary. By letter dated September 15, 2017, the CFTC notified NFA of its determination not to review the proposed rule change.3 The text of the proposed rule change is available at the self-regulatory organization’s office, on the NFA’s website at www.nfa.futures.org, and at the SEC’s Public Reference Room. 1 15 U.S.C. 78s(b)(7). CFR 240.19b–7. 3 See letter from Eileen T. Flaherty, Director, CFTC to Carol A. Wooding, General Counsel, NFA (‘‘Letter’’). 2 17 E:\FR\FM\27JNN1.SGM 27JNN1 Federal Register / Vol. 83, No. 124 / Wednesday, June 27, 2018 / Notices I. Self-Regulatory Organization’s Description and Text of the Proposed Rule Change The technical amendment to NFA’s Interpretive Notice entitled ‘‘NFA Compliance Rule 2–9: Special Supervisory Requirements for Members Registered as Broker-Dealers’’ (‘‘Interpretive Notice’’) references the Form 3–R. The amendment eliminates the reference to the Form 3–R. The text of the proposed technical amendment to the Interpretive Notice is found in Exhibit 4. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for the Proposed Rule Change In its filing with the Commission, NFA 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. NFA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. online Forms 7–R and 8–R can be updated directly in NFA’s Online Registration System and automatically create a record of changes equivalent to a completed Form 3–R. This amendment removes the Form 3–R reference and replaces it with the direction to report updates and file changes to registration information by, ‘‘. . . an update to the Form 7–R.’’ Amendments to the Interpretive Notice were previously filed with the SEC in SR–NFA–2007–07, Exchange Act Release No. 34–57142 (Jan. 14, 2008). 2. Statutory Basis The rule change is authorized by, and consistent with, Section 15A(k) of the Exchange Act.6 The proposed changes are nothing more than technical amendments to remove a reference to the Form 3–R. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change will have little or no impact on competition. The proposed amendment to the Interpretive Notice does not impose new requirements on Members. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others 1. Purpose daltland on DSKBBV9HB2PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for the Proposed Rule Change NFA did not publish the rule change to the membership for comment. NFA did not receive comment letters concerning the rule change. Section 15A(k) of the Exchange Act 4 makes NFA a national securities association for the limited purpose of regulating the activities of NFA Members (‘‘Members’’) who are registered as brokers or dealers in security futures products under Section 15(b)(11) of the Exchange Act.5 NFA’s Interpretive Notice applies to all Members who meet the criteria in the Interpretive Notice and could apply to Members registered under Section 15(b)(11) of the Exchange Act. NFA’s registration rules need to be amended to implement the CFTC’s retiring of the Form 3–R, which had been used to report changes to registration information. The CFTC eliminated the Form 3–R recognizing that in the electronic era, changes are made directly to the registration information rather than via filing a Form 3–R. In August 2012, the CFTC eliminated the requirement that registrants and individuals use CFTC Form 3–R to update and file changes to their registration information because the III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The CFTC notified NFA of its determination not to review the proposed rule change.7 The proposed rule change became effective on September 15, 2017. At any time within 60 days of the date of effectiveness of the proposed rule change, the Commission, after consultation with the CFTC, may summarily abrogate the proposed rule change and require that the proposed rule change be refiled in accordance with the provisions of Section 19(b)(1) of the Exchange Act.8 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 Exchange 6 15 U.S.C. 78o–3(k). Letter, Supra note 3. 8 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78o–3(k). 5 15 U.S.C. 78o(b)(11). VerDate Sep<11>2014 16:58 Jun 26, 2018 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– NFA–2018–01 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–NFA–2018–01. 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 such filing also will be available for inspection and copying at the principal office of NFA. 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 publicly available. All submissions should refer to File Number SR–NFA– 2018–01 and should be submitted on or before July 18, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–13764 Filed 6–26–18; 8:45 am] BILLING CODE 8011–01–P 7 See Jkt 244001 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 30207 9 17 E:\FR\FM\27JNN1.SGM CFR 200.30–3(a)(73). 27JNN1

Agencies

[Federal Register Volume 83, Number 124 (Wednesday, June 27, 2018)]
[Notices]
[Pages 30206-30207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13764]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83491; File No. SR-NFA-2018-01]


Self-Regulatory Organizations; National Futures Association; 
Notice of Filing and Immediate Effectiveness of Proposed Technical 
Amendment to the Interpretive Notice to NFA Compliance Rule 2-9: 
Special Supervisory Requirements for Members Registered as Broker-
Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934

June 21, 2018.
    Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 
(``Exchange Act''),\1\ and Rule 19b-7 under the Exchange Act,\2\ notice 
is hereby given that on June 14, 2018, National Futures Association 
(``NFA'') filed with the Securities and Exchange Commission (``SEC'' or 
``Commission'') the proposed rule change described in Items I, II, and 
III below, which Items have been prepared by NFA. The Commission is 
publishing this notice to solicit comments on the proposed rule change 
from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 17 CFR 240.19b-7.
---------------------------------------------------------------------------

    On August 30, 2017, NFA also filed this proposed rule change with 
the Commodity Futures Trading Commission (``CFTC'') and requested that 
the CFTC make a determination that review of the proposed rule change 
of NFA is not necessary. By letter dated September 15, 2017, the CFTC 
notified NFA of its determination not to review the proposed rule 
change.\3\
---------------------------------------------------------------------------

    \3\ See letter from Eileen T. Flaherty, Director, CFTC to Carol 
A. Wooding, General Counsel, NFA (``Letter'').
---------------------------------------------------------------------------

    The text of the proposed rule change is available at the self-
regulatory organization's office, on the NFA's website at 
www.nfa.futures.org, and at the SEC's Public Reference Room.

[[Page 30207]]

I. Self-Regulatory Organization's Description and Text of the Proposed 
Rule Change

    The technical amendment to NFA's Interpretive Notice entitled ``NFA 
Compliance Rule 2-9: Special Supervisory Requirements for Members 
Registered as Broker-Dealers'' (``Interpretive Notice'') references the 
Form 3-R. The amendment eliminates the reference to the Form 3-R. The 
text of the proposed technical amendment to the Interpretive Notice is 
found in Exhibit 4.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for the Proposed Rule Change

    In its filing with the Commission, NFA 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. NFA 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
    Section 15A(k) of the Exchange Act \4\ makes NFA a national 
securities association for the limited purpose of regulating the 
activities of NFA Members (``Members'') who are registered as brokers 
or dealers in security futures products under Section 15(b)(11) of the 
Exchange Act.\5\ NFA's Interpretive Notice applies to all Members who 
meet the criteria in the Interpretive Notice and could apply to Members 
registered under Section 15(b)(11) of the Exchange Act.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78o-3(k).
    \5\ 15 U.S.C. 78o(b)(11).
---------------------------------------------------------------------------

    NFA's registration rules need to be amended to implement the CFTC's 
retiring of the Form 3-R, which had been used to report changes to 
registration information. The CFTC eliminated the Form 3-R recognizing 
that in the electronic era, changes are made directly to the 
registration information rather than via filing a Form 3-R.
    In August 2012, the CFTC eliminated the requirement that 
registrants and individuals use CFTC Form 3-R to update and file 
changes to their registration information because the online Forms 7-R 
and 8-R can be updated directly in NFA's Online Registration System and 
automatically create a record of changes equivalent to a completed Form 
3-R. This amendment removes the Form 3-R reference and replaces it with 
the direction to report updates and file changes to registration 
information by, ``. . . an update to the Form 7-R.''
    Amendments to the Interpretive Notice were previously filed with 
the SEC in SR-NFA-2007-07, Exchange Act Release No. 34-57142 (Jan. 14, 
2008).
2. Statutory Basis
    The rule change is authorized by, and consistent with, Section 
15A(k) of the Exchange Act.\6\ The proposed changes are nothing more 
than technical amendments to remove a reference to the Form 3-R.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78o-3(k).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change will have little or no impact on 
competition. The proposed amendment to the Interpretive Notice does not 
impose new requirements on Members.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    NFA did not publish the rule change to the membership for comment. 
NFA did not receive comment letters concerning the rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The CFTC notified NFA of its determination not to review the 
proposed rule change.\7\ The proposed rule change became effective on 
September 15, 2017.
---------------------------------------------------------------------------

    \7\ See Letter, Supra note 3.
---------------------------------------------------------------------------

    At any time within 60 days of the date of effectiveness of the 
proposed rule change, the Commission, after consultation with the CFTC, 
may summarily abrogate the proposed rule change and require that the 
proposed rule change be refiled in accordance with the provisions of 
Section 19(b)(1) of the Exchange Act.\8\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

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 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 [email protected]. Please include 
File Number SR-NFA-2018-01 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-NFA-2018-01. 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 such filing also will be available for inspection 
and copying at the principal office of NFA. 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 publicly available. All submissions should refer to File Number 
SR-NFA-2018-01 and should be submitted on or before July 18, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(73).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-13764 Filed 6-26-18; 8:45 am]
 BILLING CODE 8011-01-P
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