Document ID: SEC-2023-0594-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2023-06-06T04:00Z

[Federal Register Volume 88, Number 108 (Tuesday, June 6, 2023)]
[Notices]
[Page 37112]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-11924]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97629; File No. SR-FINRA-2022-031]

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 Adopt FINRA Rules 6151 (Disclosure 
of Order Routing Information for NMS Securities) and 6470 (Disclosure 
of Order Routing Information for OTC Equity Securities)

    On November 16, 2022, 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 rules regarding the disclosure of order 
routing information for NMS securities and OTC equity securities. The 
proposed rule change was published for comment in the Federal Register 
on December 6, 2022.\3\ On January 18, 2023, the Commission extended 
the time period within 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 to 
March 6, 2023.\4\ On March 3, 2023, the Commission instituted 
proceedings to determine whether to approve or disapprove the proposed 
rule change.\5\
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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. 96415 (November 30, 
2022), 87 FR 74672 (December 6, 2022). Comments on the proposed rule 
change are available at: https://www.sec.gov/comments/sr-finra-2022-031/srfinra2022031.htm.
    \4\ See Securities Exchange Act Release No. 96699, 88 FR 4260 
(January 24, 2023).
    \5\ See Securities Exchange Act Release No. 97039, 88 FR 14653 
(March 9, 2023).
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    Section 19(b)(2) of the Act \6\ 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 
December 6, 2022.\7\ June 4, 2023 is 180 days from that date, and 
August 3, 2023 is 240 days from that date. The Commission finds it 
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,\8\ designates August 3, 2023 as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-FINRA-2022-031).
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ See Notice, supra note 3.
    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-11924 Filed 6-5-23; 8:45 am]
BILLING CODE 8011-01-P