Document ID: SEC-2016-0258-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2016-02-17T05:00Z

[Federal Register Volume 81, Number 31 (Wednesday, February 17, 2016)]
[Notices]
[Pages 8109-8110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03127]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77103; File No. SR-FINRA-2015-029]

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 Rule 3210 (Accounts at 
Other Broker-Dealers and Financial Institutions), as Modified by 
Partial Amendment No. 1, in the Consolidated FINRA Rulebook

February 10, 2016.
    On July 31, 2015, 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 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to adopt a new, consolidated rule 
addressing accounts opened or established by associated persons of 
members at firms other than the firm with which they are associated.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on August 14, 2015.\3\ The Commission received four comment 
letters in response to the proposal.\4\ On November 10, 2015, FINRA 
responded to the comments and filed Partial Amendment No. 1 to the 
existing proposal.\5\ On November 12, 2015, the Commission issued an 
order instituting proceedings pursuant to Exchange Act section 
19(b)(2)(B) \6\ to determine whether to approve or disapprove the 
proposed rule change, as modified by Partial Amendment No. 1. The order 
was published in the Federal Register on November 18, 2015.\7\ The 
Commission received one (1) comment letter in response to the Order 
Instituting Proceedings.\8\
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    \3\ See Exchange Act Rel. No. 75655 (Aug. 10, 2015), 80 FR 48941 
(Aug. 14, 2015). The comment period closed on September 4, 2015.
    \4\ See Letters from Eric Arnold and Clifford Kirsch, Sutherland 
Asbill & Brennan LLP (for the Committee of Annuity Insurers), dated 
September 4, 2015; Michael J. Hogan, President and Chief Executive 
Officer, FOLIOfn Investments, Inc., dated September 4, 2015; Joseph 
C. Peiffer, President, Public Investors Arbitration Bar Association, 
dated September 3, 2015; and Kevin Zambrowicz, Associate General 
Counsel & Managing Director, and Stephen Vogt, Assistant Vice 
President & Assistant General Counsel, Securities Industry and 
Financial Markets Association, dated September 3, 2015. Comment 
letters are available at www.sec.gov.
    \5\ See Letter from Patrice Gliniecki, Senior Vice President and 
Deputy General Counsel, FINRA, to the Commission, dated November 10, 
2015. FINRA's letter and text of Partial Amendment No. 1 are 
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.
    \6\ 15 U.S.C. 78s(b)(2)(B) (if the Commission does not approve 
or disapprove a proposed rule change under Exchange Act section 
19(b)(2)(A) (i.e., within 90 days of publication of notice of the 
filing of the proposed rule change in the Federal Register (the 
``Publication Date'')), the Commission shall institute proceedings 
to determine whether to approve or disapprove the proposed rule 
change (``Proceedings'')).
    \7\ See Exchange Act Release No. 76430 (Nov. 12, 2015), 80 FR 
72118 (Nov. 18, 2015) (Order Instituting Proceedings To Determine 
Whether To Approve or Disapprove Proposed Rule Change to Adopt FINRA 
Rule 3210 (Accounts at Other Broker-Dealers and Financial 
Institutions), as Modified by Partial Amendment No. 1) (``Order 
Instituting Proceedings''). The comment period closed on December 9, 
2015.
    \8\ See Letter from Laura Crosby-Brown, dated November 13, 2015. 
Comment letters are available at www.sec.gov.
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    Exchange Act section 19(b)(2)(B)(ii)(I) \9\ provides that the 
Commission shall approve or disapprove a proposed rule change in 
Proceedings within 180 days after the Publication Date, or within a 
longer period up to 240 days after the Publication Date if: (1) The 
Commission determines that a longer period is appropriate and publishes 
the reasons for so determining,\10\ or (2) the applicable self-
regulatory organization consents to the extension.\11\ The 180th day 
for this filing (File Number SR-FINRA-2015-029) is February 10, 2016.
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    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \10\ Exchange Act section 19(b)(2)(B)(ii)(II)(aa), 15 U.S.C. 
78s(b)(2)(B)(ii)(II)(aa).
    \11\ Exchange Act section 19(b)(2)(B)(ii)(II)(bb), 15 U.S.C. 
78s(b)(2)(B)(ii)(II)(bb).
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    The Commission is extending this 180-day time period. The 
Commission finds that it is appropriate to designate a longer period 
within which to issue an order approving or disapproving the

[[Page 8110]]

proposed rule change so that it has sufficient time to consider the 
proposed rule change, as amended by Partial Amendment No.1, comment 
letters, and FINRA's submission. Accordingly, the Commission, pursuant 
to Exchange Act section 19(b)(2), designates April 8, 2016, as the date 
by which the Commission shall approve or disapprove the proposed rule 
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change.

    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)(57).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-03127 Filed 2-16-16; 8:45 am]
BILLING CODE 8011-01-P