Federal Register / Vol. 75, No. 188 / Wednesday, September 29, 2010 / Notices 60157 

13 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6). 

4The current FINRA rulebook consists of (1) 

FINRA Rules; (2) NASD Rules; and (3) rules 

incorporated from NYSE (‘‘Incorporated NYSE 

Rules’’) (together, the NASD Rules and Incorporated 

NYSE Rules are referred to as the ‘‘Transitional 

Rulebook’’). While the NASD Rules generally apply 

to all FINRA members, the Incorporated NYSE 

Rules apply only to those members of FINRA that 

are also members of the NYSE (‘‘Dual Members’’). 

The FINRA Rules apply to all FINRA members, 

unless such rules have a more limited application 

by their terms. For more information about the 

rulebook consolidation process, see Information 

Notice, March 12, 2008 (Rulebook Consolidation 

Process). 

5See Securities Exchange Act Release No. 62533 

(July 20, 2010), 75 FR 43588 (July 26, 2010) (Order 

Approving File No. SR–FINRA–2010–028). 

6See Securities Exchange Act Release No. 59057 

(December 12, 2008), 73 FR 78412 (December 22, 

2008) (Notice of Filing and Immediate Effectiveness 

of File No. SR–FINRA–2008–057). 

7See Regulatory Notice 10–35 (August 2010). 

8 15 U.S.C. 78o–3(b)(6). 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NYSEAmex–2010–92 and 

should be submitted on or before 

October 20, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–24448 Filed 9–28–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62983; File No. SR–FINRA– 

2010–047] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Update Rule CrossReferences and Make Non-Substantive 

Technical Changes to Certain FINRA 

Rules 

September 23, 2010. 

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 

September 13, 2010, 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 and II 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

FINRA is proposing to update crossreferences within certain FINRA rules to 

reflect changes adopted in the 

consolidated FINRA rulebook and to 

make non-substantive technical changes 

to certain FINRA Rules. 

The text of the proposed rule change 

is available on FINRA’s Web site at 

http://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 

FINRA is in the process of developing 

a new consolidated rulebook 

(‘‘Consolidated FINRA Rulebook’’).4

That process involves FINRA submitting 

to the Commission for approval a series 

of proposed rule changes over time to 

adopt rules in the Consolidated FINRA 

Rulebook. The phased adoption and 

implementation of those rules 

necessitates periodic amendments to 

update rule cross-references and other 

non-substantive technical changes in 

the Consolidated FINRA Rulebook. 

The proposed rule change would 

update rule cross-references to reflect 

recent changes adopted in the 

Consolidated FINRA Rulebook. In this 

regard, the proposed rule change would 

update references in FINRA Rules 6630 

and 9610 to reflect the adoption into the 

Consolidated FINRA Rulebook of 

FINRA Rule 4320 and the deletion of 

NASD Rule 3210.5

In addition, at the request of SEC staff, 

the proposed rule change would make 

technical amendments to FINRA Rules 

5110, 6432 and 6540. The proposed rule 

change would replace references to the 

SEC’s Interactive Data Electronic 

Applications (‘‘IDEA’’) with the term 

‘‘Electronic Data Gathering, Analysis, 

and Retrieval (‘EDGAR’).’’ 

Finally, the proposed rule change 

would correct an inaccurate crossreference in FINRA Rule 9810. In 2008, 

in connection with updating crossreferences in that rule, FINRA 

inadvertently replaced a reference to 

NASD Rule 2110 with FINRA Rule 2020 

rather than FINRA Rule 2010.6 The 

proposed rule change would correct that 

technical error. 

FINRA has filed the proposed rule 

change for immediate effectiveness. The 

implementation date for the proposed 

rule change will be October 15, 2010, 

the date on which the previously 

approved rule change regarding FINRA 

Rule 4320 will be implemented.7

2. Statutory Basis 

FINRA believes that the proposed rule 

change is consistent with the provisions 

of Section 15A(b)(6) of the Act,8 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 

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. 

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. 

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 


erowe on DSK5CLS3C1PROD with NOTICES
60158 Federal Register / Vol. 75, No. 188 / Wednesday, September 29, 2010 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2The Commission has modified the text of the 

summaries prepared by DTC. 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) thereunder.10

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. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–FINRA–2010–047 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–FINRA–2010–047. This file 

number should be included on the 

subject line if e-mail 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 Web site (http://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 Web site 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 

a.m. and 3 p.m. Copies of such filing 

also will be available for inspection and 

copying at the principal office of 

FINRA. All comments received will be 

posted without change; the Commission 

does not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make publicly available. All 

submissions should refer to File 

Number SR–FINRA–2010–047 and 

should be submitted on or before 

October 20, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–24445 Filed 9–28–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62990; File No. SR–DTC– 

2010–12] 

Self-Regulatory Organizations; The 

Depository Trust Company; Notice of 

Filing of a Proposed Rule Change To 

Automate the Approval Process in 

Providing Trustee Access to the 

Security Position Report Service 

September 24, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

September 14, 2010, The Depository 

Trust Company (‘‘DTC’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which items have been prepared 

primarily by DTC. The Commission is 

publishing this notice to solicit 

comments from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The purpose of the proposed rule 

change is to replace the manual 

approval process whereby trustees of an 

issue receive access to DTC’s Security 

Position Report (‘‘SPR’’) service with an 

automated approval process. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

DTC 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. DTC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of such statements.2

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

DTC’s SPR service provides valuable 

information on the record date holdings 

of an issuer’s security in DTC 

Participant accounts. An SPR provides 

information needed to contact 

shareholders on corporate-related events 

such as annual meetings. DTC currently 

provides SPRs to Issuers, Trustees, and 

authorized third parties. 

DTC’s Proxy area receives requests for 

SPR services access and reviews such 

requests to ensure that only appropriate 

parties receive access. The review 

process to approve a Trustee’s access to 

the SPR service for a security is done 

manually, and the process is therefore 

subject to error. Currently, the SPR 

system sends an e-mail to the DTC 

Proxy mailbox notifying the Proxy staff 

that a Trustee has added a CUSIP to its 

eligible issues list. Any Trustee can add 

a CUSIP to its eligible issues list. The 

CUSIP will show ‘‘unauthorized’’ until 

reviewed and approved by the DTC 

Proxy staff. DTC Proxy staff requires 

that the Trustee provide to it one of the 

following: Trust agreement, Annual 

Report, 10K, 10Q, SEC filing, and/or any 

other document deemed necessary and 

appropriate. Generally, it takes two or 

more days for a response on access 

requests because of the manual process 

associated with the review of trustee 

information. 

To increase the efficiency by which 

DTC provides Trustees with access to 

the SPR service, DTC is seeking to 

collect Trustee data at the point of 

eligibility of the issue. This will allow 

DTC to store and maintain Trustee data 

on the Entity Master File and the 

Security Master File (‘‘Master Files’’). 

DTC will then have the ability to 

automate the validation done by the 

SPR system against the information 

stored on the Master Files in response 

to a Trustee request for SPR access. 

Initially, DTC will populate and 

update the Trustee field on the Master 

Files through DTC’s Participant 

Terminal System. Ultimately, and as set 

forth below, this information will be 

updated through DTC’s UW 

(underwriting) Source System by 

underwriters at the time of issue 

eligibility. This change requires DTC to 

update the UW Source System to 


erowe on DSK5CLS3C1PROD with NOTICES