Document ID: SEC-2013-0217-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2013-02-05T05:00Z

[Federal Register Volume 78, Number 24 (Tuesday, February 5, 2013)]
[Notices]
[Page 8216]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-02425]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68768; File No. SR-FINRA-2012-052]

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 
to TRACE the ``Factor'' in Limited Instances Involving Asset-Backed 
Security Transactions

January 30, 2013.
    On November 29, 2012, 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 require FINRA members to report to the Trade 
Reporting and Compliance Engine (``TRACE'') the Factor used to 
determine the size (volume) of each transaction in an Asset-Backed 
Security ``(ABS'') (except ABS traded To Be Announced (``TBA'')), in 
the limited instances when members effect such transactions as agent 
and charge a commission.\3\ The proposed rule change was published for 
comment in the Federal Register on December 18, 2012.\4\ The Commission 
received one comment on the proposal and a response to the comment from 
FINRA.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The terms ``Asset-Backed Security,'' ``To Be Announced,'' 
and ``Factor'' are defined in FINRA Rules 6710(m), (u), and (w), 
respectively.
    \4\ See Securities Exchange Act Release No. 68414 (December 12, 
2012), 77 FR 74896 (``Notice'').
    \5\ See comment from Mark Sokolow, Attorney at Law, dated 
December 18, 2012 (``Sokolow Comment''); see also response letter 
from Kathryn Moore, Assistant General Counsel, FINRA, to Elizabeth 
M. Murphy, Secretary, Commission, dated January 11, 2013 (``FINRA 
Letter'').
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    Section 19(b)(2) of the Act \6\ 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 February 1, 2013. The Commission finds that 
it is 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, the comment received, and the 
response to the comment submitted by FINRA. Therefore, the Commission 
is extending this 45-day time period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates March 18, 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.
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-02425 Filed 2-4-13; 8:45 am]
BILLING CODE 8011-01-P