Document ID: SEC-2012-1562-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2012-09-20T04:00Z

[Federal Register Volume 77, Number 183 (Thursday, September 20, 2012)]
[Notices]
[Page 58437]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-23182]

[[Page 58437]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67867; File No. SR-NASD-2005-100]

Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Withdrawal of Proposed Rule Change and 
Amendments Nos. 1, 2, 3 and 4 Thereto, To Require Members To Provide 
Customers in TRACE-Eligible Debt Securities With Additional, 
Transaction-Specific Disclosures and To Notify Customers of the 
Availability of a Disclosure Document

September 14, 2012.
    On August 19, 2005, the National Association of Securities Dealers, 
Inc. (``NASD''), n/k/a Financial Industry Regulatory Authority, Inc. 
(``FINRA''), filed with the Securities and Exchange Commission (``SEC'' 
or ``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Exchange Act'' or ``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change that would have (1) adopted NASD 
Rule 2231, which would have required members, subject to specified 
exceptions, to provide customers in transactions in debt securities 
that are TRACE-eligible securities, as defined in former NASD Rule 
6210(a),\3\ with additional, transaction-specific disclosures relating 
to applicable charges, credit ratings, the availability of last-sale 
transaction information, and certain interest, yield and call 
provisions; and (2) amended NASD Rule 2340 (customer account 
statements) to require members to notify certain customers of the 
availability of a disclosure document discussing debt securities 
authored by FINRA and deliver the document to customers upon request. 
NASD filed Amendment No. 1 to the proposed rule change on December 21, 
2005, Amendment No. 2 to the proposed rule change on January 26, 2007, 
and Amendment No. 3 to the proposed rule change on July 16, 2007. FINRA 
filed Amendment No. 4 on August 21, 2007. The proposed rule change, as 
modified by Amendments 1, 2, 3 and 4, was published for comment in the 
Federal Register on October 19, 2007.\4\ The Commission received four 
comments on the proposal.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ NASD Rule 6210 was superceded by FINRA Rule 6710 as of Dec. 
15, 2008. See FINRA Regulatory Notice 08-57, SEC Approves New 
Consolidated FINRA Rules (October 2008) available at http://finra.complinet.com/net_file_store/new_rulebooks/f/i/finra_08-57.pdf.
    \4\ See Securities Exchange Act Release No. 56661 (Oct. 15, 
2007), 72 FR 59321 (Oct. 19, 2009).
    \5\ All comments are posted on the Commission's Web site, http://www.sec.gov/comments/sr-nasd-2005-100/nasd2005100.shtml(last 
visited Sept. 14, 2012). FINRA filed a response to comments. See 
letter from Sharon Zackula, FINRA, to Florence E. Harmon, SEC, dated 
Sept. 5, 2008 available at http://www.sec.gov/comments/sr-nasd-2005-100/nasd2005100-5.pdf.
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    On September 14, 2012, FINRA withdrew the proposed change (SR-NASD-
2005-100).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
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Kevin O'Neill,
Deputy Secretary.
[FR Doc. 2012-23182 Filed 9-19-12; 8:45 am]
BILLING CODE 8011-01-P