Sunshine Act Meetings, 53696 [2021-21165]
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53696
Federal Register / Vol. 86, No. 185 / Tuesday, September 28, 2021 / Notices
deadline(s) for each request appear in
section II.
SECURITIES AND EXCHANGE
COMMISSION
II. Docketed Proceeding(s)
[Release No. 34–93103; File No. SR–FINRA–
2021–016]
1. Docket No(s): MC2021–132 and
CP2021–137; Filing Title: USPS Request
to Add Priority Mail Contract 721 to
Competitive Product List and Notice of
Filing Materials Under Seal; Filing
Acceptance Date: September 22, 2021;
Filing Authority: 39 U.S.C. 3642, 39 CFR
3040.130 through 3040.135, and 39 CFR
3035.105; Public Representative:
Kenneth R. Moeller; Comments Due:
September 30, 2021.
2. Docket No(s): MC2021–133 and
CP2021–138; Filing Title: USPS Request
to Add Priority Mail & First-Class
Package Service Contract 202 to
Competitive Product List and Notice of
Filing Materials Under Seal; Filing
Acceptance Date: September 22, 2021;
Filing Authority: 39 U.S.C. 3642, 39 CFR
3040.130 through 3040.135, and 39 CFR
3035.105; Public Representative:
Kenneth R. Moeller; Comments Due:
September 30, 2021.
This Notice will be published in the
Federal Register.
Erica A. Barker,
Secretary.
[FR Doc. 2021–21037 Filed 9–27–21; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL SERVICE
Sunshine Act Meetings
TIME AND DATE:
October 5, 2021, at 2:30
p.m.
PLACE:
Minneapolis, MN.
Closed.
STATUS:
MATTERS TO BE CONSIDERED:
Tuesday, October 5, 2021, at 2:30 p.m.
1. Strategic Items
2. Financial and Operational Matters
3. Compensation and Personnel Matters
4. Administrative Items
General Counsel Certification: The
General Counsel of the United States
Postal Service has certified that the
meeting may be closed under the
Government in the Sunshine Act.
CONTACT PERSON FOR MORE INFORMATION:
Michael J. Elston, Secretary of the Board
of Governors, U.S. Postal Service, 475
L’Enfant Plaza SW, Washington, DC
20260–1000. Telephone: (202) 268–
4800.
Michael J. Elston,
Secretary.
[FR Doc. 2021–21165 Filed 9–24–21; 4:15 pm]
BILLING CODE 7710–12–P
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Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Order Instituting
Proceedings To Determine Whether To
Approve or Disapprove the Proposed
Rule Change To Amend Rule 2165
(Financial Exploitation of Specified
Adults)
On August 23, 2021, FINRA responded
to the comment letters received in
response to the Notice.6
The Commission is publishing this
order pursuant to Section 19(b)(2)(B) of
the Exchange Act 7 to solicit comments
on the proposed rule change from
interested persons and to institute
proceedings to determine whether to
approve or disapprove the proposed
rule change.
II. Description of the Proposed Rule
Change
Background
FINRA’s proposed rule change would
I. Introduction
amend Rule 2165, which currently
On June 9, 2021, the Financial
permits a member firm to place a
Industry Regulatory Authority, Inc.
temporary hold on a disbursement from
(‘‘FINRA’’) filed with the Securities and
the account of a ‘‘specified adult’’
Exchange Commission (‘‘SEC’’ or
customer for up to 25 business days if
‘‘Commission’’) the proposed rule
the criteria of the rule are satisfied.8 A
change SR–FINRA–2021–016 pursuant
‘‘specified adult’’ is someone either age
to Section 19(b)(1) of the Securities
65 and older, or age 18 and older if the
Exchange Act of 1934 (‘‘Exchange
member firm reasonably believes that a
Act’’) 1 and Rule 19b–4 thereunder 2 to
mental or physical impairment has
amend FINRA Rule 2165 (Financial
rendered the person incapable of
Exploitation of Specified Adults) to: (1)
protecting their own interests.9
Permit member firms to place a
According to FINRA, temporary holds
temporary hold on a securities
on disbursements have played a
transaction, subject to the same terms
significant role in providing member
and restrictions applicable to a
firms with a way to respond promptly
temporary hold on disbursements of
to suspicions of customer financial
funds or securities (‘‘disbursements’’),
exploitation before a customer
where there is a reasonable belief of
experiences potentially significant
financial exploitation of a ‘‘specified
losses.10
3
adult’’ as defined in the rule; (2) permit
A member firm’s ability to place a
member firms to extend a temporary
temporary hold on disbursements is
hold, whether on a disbursement or a
subject to a number of conditions that
transaction, for an additional 30
are designed to help prevent
business days if the member firm has
misapplication of the rule.11 These
reported the matter to a state regulator
or agency or a court of competent
Assistant Chief Counsel—Sales Practices, Division
jurisdiction; and (3) require member
of Trading and Markets, Commission, dated July 20,
firms to retain records of the reason and 2021. This letter is available at https://
www.finra.org/sites/default/files/2021-07/SRsupport for any extension of any
FINRA-2021-016-Extension1.pdf.
temporary hold, including information
6 See letter from Jeanette Wingler, Associate
regarding any communications with, or
General Counsel, FINRA, to Vanessa Countryman,
Secretary, Commission dated August 23, 2021
by, a state regulator or agency of
(‘‘FINRA Letter’’). The FINRA Letter is available at
competent jurisdiction or a court of
the Commission’s website at https://www.sec.gov/
competent jurisdiction. The proposed
comments/sr-finra-2021-016/srfinra2021016rule change was published for comment 9160159-247786.pdf.
7 15 U.S.C. 78s(b)(2)(B).
in the Federal Register on June 28,
8 See infra for a discussion of existing safeguards
2021.4 On July 20, 2021, FINRA
incorporated into Rule 2165.
consented to extend until September 24,
9 See Rule 2165(a)(1). Supplementary Material .03
2021, the time period in which the
to Rule 2165 provides that a member firm’s
Commission must approve the proposed reasonable belief that a natural person age 18 and
older has a mental or physical impairment that
rule change, disapprove the proposed
renders the individual unable to protect their own
rule change, or institute proceedings to
interests may be based on the facts and
determine whether to approve or
circumstances observed in the member firm’s
business relationship with the person. See Notice
disapprove the proposed rule change.5
September 22, 2021.
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See infra note 9 and accompanying text.
4 See Exchange Act Release No. 92225 (Jun. 22,
2021), 86 FR 34084 (Jun. 28, 2021) (File No. SR–
FINRA–2021–016) (‘‘Notice’’).
5 See letter from Jeanette Wingler, Associate
General Counsel, FINRA, to Lourdes Gonzalez,
PO 00000
Frm 00069
Fmt 4703
Sfmt 4703
at 34086 n.17.
10 See Notice at 34086. For example, according to
FINRA member firms have placed temporary holds
to prevent senior investors from losing: (1) $200,000
(representing approximately two-thirds of the
investor’s account) related to a lawsuit scam; (2)
$10,000 in a lottery scam; (3) $60,000 in a romance
scam; and (4) $50,000 to financial exploitation by
a brother-in-law. Id.
11 Id.
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[Federal Register Volume 86, Number 185 (Tuesday, September 28, 2021)]
[Notices]
[Page 53696]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21165]
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POSTAL SERVICE
Sunshine Act Meetings
TIME AND DATE: October 5, 2021, at 2:30 p.m.
PLACE: Minneapolis, MN.
STATUS: Closed.
MATTERS TO BE CONSIDERED:
Tuesday, October 5, 2021, at 2:30 p.m.
1. Strategic Items
2. Financial and Operational Matters
3. Compensation and Personnel Matters
4. Administrative Items
General Counsel Certification: The General Counsel of the United
States Postal Service has certified that the meeting may be closed
under the Government in the Sunshine Act.
CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of
the Board of Governors, U.S. Postal Service, 475 L'Enfant Plaza SW,
Washington, DC 20260-1000. Telephone: (202) 268-4800.
Michael J. Elston,
Secretary.
[FR Doc. 2021-21165 Filed 9-24-21; 4:15 pm]
BILLING CODE 7710-12-P
