Document ID: SEC-2023-0687-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2023-06-27T04:00Z

[Federal Register Volume 88, Number 122 (Tuesday, June 27, 2023)]
[Notices]
[Pages 41710-41711]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13561]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97784; File No. SR-FINRA-2022-032]

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 a 
Proposed Rule Change Relating to Alternative Display Facility New 
Entrant

June 21, 2023.
    On December 16, 2022, the Financial Industry Regulatory Authority, 
Inc. (``FINRA'') filed with the Securities and Exchange Commission 
(``Commission''),

[[Page 41711]]

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 
add IntelligentCross ATS as a new entrant to the Alternative Display 
Facility. The proposed rule change was published for comment in the 
Federal Register on December 27, 2022.\3\ On February 9, 2023, the 
Commission extended the time period within which to approve, disapprove 
the proposed rule change, or institute proceedings to determine whether 
to approve or disapprove the proposed rule change to March 27, 2023.\4\ 
On March 24, 2023, the Commission initiated proceedings under Section 
19(b)(2)(B) of the Act \5\ to determine whether to approve or 
disapprove the proposed rule change.\6\ The Commission has received 
comments on the proposed rule change.\7\
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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. 96550 (December 20, 
2022), 86 FR 79401.
    \4\ See Securities Exchange Act Release No. 96864, 88 FR 9945 
(February 15, 2023).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 75599 (August 4, 
2015), 80 FR 47978 (August 10, 2015).
    \7\ Comments on the proposed rule change are available at: 
https://www.sec.gov/comments/sr-finra-2022-032/srfinra2022032.htm.
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval 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 the filing of the proposed rule 
change.\9\ 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.\10\ The 
proposed rule change was published for comment in the Federal Register 
on December 27, 2022. June 25, 2023 is 180 days from that date, and 
August 24, 2023 is an additional 60 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \10\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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    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 comment 
letters and take action on the proposed rule change. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
August 24, 2023, as the date by which the Commission should either 
approve or disapprove the proposed rule change (File No. SR-FINRA-2022-
032).
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    \11\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-13561 Filed 6-26-23; 8:45 am]
BILLING CODE 8011-01-P