Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend FINRA Rule 5110 (Corporate Financing Rule-Underwriting Terms and Arrangements) To Make Substantive, Organizational and Terminology Changes, as Modified by Partial Amendment No. 1, 58794-58795 [2019-23861]

Download as PDF 58794 Federal Register / Vol. 84, No. 212 / Friday, November 1, 2019 / Notices Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay. The Exchange asserts that waiver of the operative delay would be consistent with the protection of investors and the public interest because it would allow the Exchange to provide the proposed co-location services immediately upon the Exchange’s migration to Pillar. For the same reason, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission waives the 30-day operative delay and designates the proposed rule change operative upon filing.74 At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 75 of the Act to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: 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– NYSECHX–2019–12 on the subject line. 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 the Exchange. 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–NYSECHX–2019–12 and should be submitted on or before November 22, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.76 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–23862 Filed 10–31–19; 8:45 am] BILLING CODE 8011–01–P VerDate Sep<11>2014 19:23 Oct 31, 2019 Jkt 250001 [Release No. 34–87407; File No. SR–FINRA– 2019–012] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend FINRA Rule 5110 (Corporate Financing Rule—Underwriting Terms and Arrangements) To Make Substantive, Organizational and Terminology Changes, as Modified by Partial Amendment No. 1 October 28, 2019. On April 11, 2019, Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend FINRA Rule 5110 (Corporate Financing Rule— Underwriting Terms and Arrangements) (‘‘Rule’’ or Rule 5110) to make substantive, organizational and terminology changes to the Rule. The proposed rule change was published for comment in the Federal Register on May 1, 2019.3 On June 12, 2019, the Commission extended to July 30, 2019, the time period in which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change.4 The Commission received six comment letters on the proposal.5 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 85715 (April 25, 2019), 84 FR 18592 (May 1, 2019) (‘‘Notice’’). 4 See Securities Exchange Act Release No. 34– 86091 (June 12, 2019), 84 FR 28371 (June 18, 2019). 5 See letter from Suzanne Rothwell, Managing Member, Rothwell Consulting LLC, to Secretary, Commission, dated May 14, 2019; letter from Stuart J. Kaswell, Esq., to Vanessa Countryman, Acting Director, Commission, dated May 17, 2019; letter from Eversheds Sutherland (US) LLP, on behalf of the Committee of Annuity Insurers, to Brent J. Fields, Secretary, Commission, dated May 21, 2019; letter from Aseel Rabie, Managing Director and Associate General Counsel, Securities Industry and Financial Markets Association, to Vanessa Countryman, Acting Secretary, Commission, dated May 30, 2019 (‘‘SIFMA’’); letter from Robert E. Buckholz, Chair, Federal Regulation of Securities Committee, ABA Business Law Section, American Bar Association, to Vanessa Countryman, Acting Secretary, Commission, dated May 30, 2019; letter from Davis Polk & Wardwell LLP, to Vanessa Countryman, Acting Secretary, Commission, dated June 5, 2019. 2 17 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–NYSECHX–2019–12. This file number should be included on the subject line if email is used. To help the 74 For purposes only of waiving the 30-day operative delay, the Commission also has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 75 15 U.S.C. 78s(b)(2)(B). SECURITIES AND EXCHANGE COMMISSION 76 17 PO 00000 CFR 200.30–3(a)(12). Frm 00119 Fmt 4703 Sfmt 4703 E:\FR\FM\01NON1.SGM 01NON1 Federal Register / Vol. 84, No. 212 / Friday, November 1, 2019 / Notices On July 11, 2019, FINRA responded to the comments and filed Partial Amendment No. 1 to the proposal.6 On July 29, 2019, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act 7 to determine whether to approve or disapprove the proposed rule change.8 The Commission received three comment letters in response to the Order Instituting Proceedings.9 Section 19(b)(2) of the Exchange Act 10 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of the filing of the proposed rule change. The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register.11 The 180th day after publication of the notice of the filing of the proposed rule change in the Federal Register is October 28, 2019. The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as amended by Partial Amendment No.1, comment letters, and FINRA’s submission. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Exchange Act, designates December 27, 2019, as the date by which the Commission shall approve or disapprove the proposed rule change. 6 See letter from Jeanette Wingler, Associate General Counsel, FINRA, to Vanessa Countryman, Secretary, Commission, dated July 11, 2019. Partial Amendment No. 1 is available at https:// www.finra.org/industry/rule-filings/sr-finra-2019012. 7 15 U.S.C. 78s(b)(2)(B). 8 See Securities Exchange Act Release No. 86509 (July 29, 2019), 84 FR 37921 (Aug. 2, 2019). 9 See letter from Hardy Callcott and Joseph McLaughlin, to Vanessa Countryman, Secretary, Commission, dated August 14, 2019; letter from Stuart J. Kaswell, Law Office of Stuart J. Kaswell, LLC, to Jill M. Peterson, Assistant Secretary, Commission, dated August 16, 2019; and letter from Aseel Rabie, Managing Director and Associate General Counsel, SIFMA, to Vanessa Countryman, Secretary, Commission, dated August 23, 2019. 10 15 U.S.C. 78s(b)(2). 11 See Notice, supra note 3. VerDate Sep<11>2014 19:23 Oct 31, 2019 Jkt 250001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Jill M. Peterson, Assistant Secretary. 58795 Dated: October 29, 2019. Vanessa A. Countryman, Secretary. [FR Doc. 2019–24053 Filed 10–30–19; 4:15 pm] BILLING CODE 8011–01–P [FR Doc. 2019–23861 Filed 10–31–19; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission Investor Advisory Committee will hold a meeting on Thursday, November 7, 2019 at 9:30 a.m. (ET). TIME AND DATE: The meeting will be held in Multi-Purpose Room LL–006 at the Commission’s headquarters, 100 F Street NE, Washington, DC 20549. PLACE: This meeting will begin at 9:30 a.m. (ET) and will be open to the public. Seating will be on a first-come, firstserved basis. Doors will open at 9:00 a.m. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s website at www.sec.gov. STATUS: On October 24, 2019, the Commission issued notice of the Committee meeting (Release No. 33–10721), indicating that the meeting is open to the public (except during that portion of the meeting reserved for an administrative work session during lunch), and inviting the public to submit written comments to the Committee. This Sunshine Act notice is being issued because a quorum of the Commission may attend the meeting. The agenda for the meeting includes: Welcome remarks; a discussion regarding whether investors use environmental, social, and governance (ESG) data in investment/capital allocation decisions; a discussion regarding the SEC’s Concept Release on Harmonization of Securities Offering Exemptions; subcommittee reports; and a nonpublic administrative work session during lunch. MATTERS TO BE CONSIDERED: CONTACT PERSON FOR MORE INFORMATION: For further information and to ascertain what, if any, matters have been added, deleted or postponed; please contact Vanessa A. Countryman from the Office of the Secretary at (202) 551–5400. [Disaster Declaration #16131 and #16132; Illinois Disaster Number IL–00057] Presidential Declaration Amendment of a Major Disaster for Public Assistance Only for the State of Illinois U.S. Small Business Administration. AGENCY: ACTION: Amendment 1. This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Illinois (FEMA–4461–DR), dated 09/19/2019. Incident: Severe Storms and Flooding. Incident Period: 02/24/2019 through 07/03/2019. SUMMARY: Issued on 10/24/2019. Physical Loan Application Deadline Date: 11/18/2019. Economic Injury (EIDL) Loan Application Deadline Date: 06/19/2020. DATES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. ADDRESSES: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW, Suite 6050, Washington, DC 20416, (202) 205–6734. FOR FURTHER INFORMATION CONTACT: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of Illinois, dated 09/19/2019, is hereby amended to include the following areas as adversely affected by the disaster. SUPPLEMENTARY INFORMATION: Primary Counties: Lee All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Number 59008) James Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2019–23930 Filed 10–31–19; 8:45 am] 12 17 PO 00000 CFR 200.30–3(a)(57). Frm 00120 Fmt 4703 Sfmt 9990 BILLING CODE 8026–03–P E:\FR\FM\01NON1.SGM 01NON1

Agencies

[Federal Register Volume 84, Number 212 (Friday, November 1, 2019)]
[Notices]
[Pages 58794-58795]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-23861]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87407; File No. SR-FINRA-2019-012]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on Proceedings To Determine Whether To Approve or 
Disapprove a Proposed Rule Change To Amend FINRA Rule 5110 (Corporate 
Financing Rule--Underwriting Terms and Arrangements) To Make 
Substantive, Organizational and Terminology Changes, as Modified by 
Partial Amendment No. 1

October 28, 2019.
    On April 11, 2019, Financial Industry Regulatory Authority, Inc. 
(``FINRA'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend FINRA Rule 5110 
(Corporate Financing Rule--Underwriting Terms and Arrangements) 
(``Rule'' or Rule 5110) to make substantive, organizational and 
terminology changes to the Rule.
---------------------------------------------------------------------------

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

    The proposed rule change was published for comment in the Federal 
Register on May 1, 2019.\3\ On June 12, 2019, the Commission extended 
to July 30, 2019, the time period in which to approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether to approve or disapprove the proposed rule 
change.\4\ The Commission received six comment letters on the 
proposal.\5\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 85715 (April 25, 
2019), 84 FR 18592 (May 1, 2019) (``Notice'').
    \4\ See Securities Exchange Act Release No. 34-86091 (June 12, 
2019), 84 FR 28371 (June 18, 2019).
    \5\ See letter from Suzanne Rothwell, Managing Member, Rothwell 
Consulting LLC, to Secretary, Commission, dated May 14, 2019; letter 
from Stuart J. Kaswell, Esq., to Vanessa Countryman, Acting 
Director, Commission, dated May 17, 2019; letter from Eversheds 
Sutherland (US) LLP, on behalf of the Committee of Annuity Insurers, 
to Brent J. Fields, Secretary, Commission, dated May 21, 2019; 
letter from Aseel Rabie, Managing Director and Associate General 
Counsel, Securities Industry and Financial Markets Association, to 
Vanessa Countryman, Acting Secretary, Commission, dated May 30, 2019 
(``SIFMA''); letter from Robert E. Buckholz, Chair, Federal 
Regulation of Securities Committee, ABA Business Law Section, 
American Bar Association, to Vanessa Countryman, Acting Secretary, 
Commission, dated May 30, 2019; letter from Davis Polk & Wardwell 
LLP, to Vanessa Countryman, Acting Secretary, Commission, dated June 
5, 2019.

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

[[Page 58795]]

    On July 11, 2019, FINRA responded to the comments and filed Partial 
Amendment No. 1 to the proposal.\6\ On July 29, 2019, the Commission 
instituted proceedings pursuant to Section 19(b)(2)(B) of the Exchange 
Act \7\ to determine whether to approve or disapprove the proposed rule 
change.\8\ The Commission received three comment letters in response to 
the Order Instituting Proceedings.\9\
---------------------------------------------------------------------------

    \6\ See letter from Jeanette Wingler, Associate General Counsel, 
FINRA, to Vanessa Countryman, Secretary, Commission, dated July 11, 
2019. Partial Amendment No. 1 is available at https://www.finra.org/industry/rule-filings/sr-finra-2019-012.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 86509 (July 29, 
2019), 84 FR 37921 (Aug. 2, 2019).
    \9\ See letter from Hardy Callcott and Joseph McLaughlin, to 
Vanessa Countryman, Secretary, Commission, dated August 14, 2019; 
letter from Stuart J. Kaswell, Law Office of Stuart J. Kaswell, LLC, 
to Jill M. Peterson, Assistant Secretary, Commission, dated August 
16, 2019; and letter from Aseel Rabie, Managing Director and 
Associate General Counsel, SIFMA, to Vanessa Countryman, Secretary, 
Commission, dated August 23, 2019.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Exchange Act \10\ provides that, after 
initiating disapproval proceedings, the Commission shall issue an order 
approving or disapproving the proposed rule change not later than 180 
days after the date of publication of notice of the filing of the 
proposed rule change. The Commission may, however, extend the period 
for issuing an order approving or disapproving the proposed rule change 
by not more than 60 days if the Commission determines that a longer 
period is appropriate and publishes the reasons for such determination. 
The proposed rule change was published for notice and comment in the 
Federal Register.\11\ The 180th day after publication of the notice of 
the filing of the proposed rule change in the Federal Register is 
October 28, 2019.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See Notice, supra note 3.
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change, as amended by Partial Amendment No.1, comment 
letters, and FINRA's submission.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Exchange Act, designates December 27, 2019, as the date by which the 
Commission shall approve or disapprove the proposed rule change.

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

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

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-23861 Filed 10-31-19; 8:45 am]
BILLING CODE 8011-01-P
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