Document ID: SEC-2020-1794-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2020-11-10T05:00Z

[Federal Register Volume 85, Number 218 (Tuesday, November 10, 2020)]
[Notices]
[Page 71691]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-24886]

[[Page 71691]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90335; File No. SR-FINRA-2020-031]

Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on a Proposed Rule Change To Adopt FINRA Rule 6439 
(Requirements for Member Inter-Dealer Quotation Systems) and Delete the 
Rules Related to the OTC Bulletin Board Service

November 4, 2020.
    On September 24, 2020, 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 delete the rules related to the OTC Bulletin 
Board Service and cease its operation and to adopt FINRA Rule 6439 
(Requirements for Member Inter-Dealer Quotation Systems). The proposed 
rule change was published for comment in the Federal Register on 
October 7, 2020.\3\
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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. 90067 (October 1, 
2020), 85 FR 63314. Comments on the proposed rule change can be 
found at: https://www.sec.gov/comments/sr-finra-2020-031/srfinra2020031.htm.
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    Section 19(b)(2) of the Act \4\ 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 after publication of the notice for this proposed rule change 
is November 21, 2020. The Commission is extending this 45-day time 
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change and the comments 
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of 
the Act,\5\ designates January 5, 2021 as the date by which the 
Commission shall either approve or disapprove, or institute proceedings 
to determine whether to disapprove, the proposed rule change (File No. 
SR-FINRA-2020-031).
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    \5\ Id.

    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)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-24886 Filed 11-9-20; 8:45 am]
BILLING CODE 8011-01-P