Document ID: SEC-2013-0557-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2013-03-25T04:00Z

[Federal Register Volume 78, Number 57 (Monday, March 25, 2013)]
[Notices]
[Page 17969]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-06713]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69173; File No. SR-FINRA-2013-013]

Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on Proposed Rule Change To Require Members To Report 
OTC Equity Transactions as Soon as Practicable, But No Later Than 10 
Seconds, Following Execution

March 19, 2013.
    On February 1, 2013, 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 amend FINRA trade reporting rules. The proposed 
rule change was published for comment in the Federal Register on 
February 12, 2013.\3\ The Commission received five comment letters on 
the proposal.\4\
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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. 68842 (February 6, 
2013), 78 FR 9963.
    \4\ See Letter from Christopher Nagy, President, KOR Trading LLC 
to Elizabeth M. Murphy, Secretary, Commission, dated March 5, 2013; 
Letter from David J. Amster, Chief Compliance Officer, CRT Capital 
Group to the Commission, dated March 5, 2013; Letter from David S. 
Sieradzki, Partner, Bracewell & Giuliani LLP on behalf of GFI 
Securities LLC to Elizabeth M. Murphy, Secretary, Commission, dated 
March 5, 2013; Letter from Manisha Kimmel, Executive Director, 
Financial Information Forum to Elizabeth M. Murphy, Secretary, 
Commission, dated March 6, 2013; and Letter from Theodore R. Lazo, 
Managing Director and Associate General Counsel, Securities Industry 
and Financial Markets Association to Elizabeth M. Murphy, Secretary, 
Commission, dated March 18, 2013.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is March 29, 2013.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending this time period an additional 45 
calendar days. The Commission finds it appropriate to designate a 
longer period within which to take action on the proposed rule change. 
In particular, the extension will ensure that the Commission has 
sufficient time to consider and take action on FINRA's proposal, in 
light of, among other things, the comments received on the proposal, 
and any response to the comments submitted by FINRA.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates May 13, 2013 as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
FINRA-2013-013).
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-06713 Filed 3-22-13; 8:45 am]
BILLING CODE 8011-01-P