[Federal Register Volume 89, Number 212 (Friday, November 1, 2024)]
[Notices]
[Pages 87448-87449]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25426]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101450; File No. SR-FINRA-2024-007]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of Longer Period for Commission 
Action on Proceedings To Determine Whether To Approve or Disapprove 
Proposed Rule Change To Adopt the FINRA Rule 6500 Series (Securities 
Lending and Transparency Engine (SLATETM))

October 28, 2024.
    On May 1, 2024, the 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 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to adopt the new FINRA Rule 6500 Series 
(Securities Lending and Transparency Engine (SLATE<SUP>TM</SUP>)) to 
(1) require reporting of securities loans; and (2) provide for the 
public dissemination of loan information. The proposed rule change was 
published for comment in the Federal Register on May 7, 2024.\3\ On 
June 10, 2024, the Commission extended, until August 5, 2024, the time 
period within which to approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
disapprove the proposed rule change.\4\ On August 5, 2024, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the Act 
\5\ to determine whether to approve or disapprove the proposed rule 
change, and allow for additional analysis of, and input from commenters 
with respect to, the scope and implementation of the proposed rules.\6\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 100046 (May 1, 
2024), 89 FR 38203 (May 7, 2024) (``Notice''). Comments received on 
the proposed rule change are available at: https://www.sec.gov/comments/sr-finra-2024-007/srfinra2024007.htm.
    \4\ See Securities Exchange Act Release No. 100305 (June 10, 
2024), 89 FR 50644 (June 14, 2024).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 100655 (August 5, 
2024), 89 FR 65441 (August 9, 2024) (``Order Instituting 
Proceedings'').
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    Section 19(b)(2) of the Act \7\ provides that, after initiating 
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 filing of the proposed rule change. 
The Commission may extend the period for issuing an order approving or 
disapproving the proposed rule change, however, 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 on 
May 7, 2024.\8\ November 3, 2024 is 180 days from that date, and 
January 2, 2025 is 240 days from that date.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See Notice, supra note 3.
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    The Commission finds 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 and its comments. Accordingly, the Commission, pursuant to 
Section 19(b)(2) of the Act,\9\ designates January 2, 2025 as the date 
by which the Commission shall either approve or

[[Page 87449]]

disapprove the proposed rule change (File No. SR-FINRA-2024-007).
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    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-25426 Filed 10-31-24; 8:45 am]
BILLING CODE 8011-01-P