Document ID: SEC-2014-0081-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Financial Industry Regulatory Authority, Inc.
Posted Date: 2014-01-15T05:00Z

[Federal Register Volume 79, Number 10 (Wednesday, January 15, 2014)]
[Notices]
[Page 2723]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00574]

[[Page 2723]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71262; File No. SR-FINRA-2013-050]

Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change Relating to Over-the-Counter Equity 
Trade Reporting and OATS Reporting

January 9, 2014.
    On November 12, 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 the FINRA rules governing the reporting 
of (i) over-the-counter (``OTC'') transactions in equity securities to 
the FINRA Facilities; \3\ and (ii) orders in NMS stocks and OTC Equity 
Securities to the Order Audit Trail System (``OATS''). The Proposal was 
published for comment in the Federal Register on November 29, 2013.\4\ 
The Commission received one comment letter on the proposal.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Specifically, the FINRA Facilities are the Alternative 
Display Facility (``ADF'') and the Trade Reporting Facilities 
(``TRF''), to which members report OTC transactions in NMS stocks, 
as defined in SEC Rule 600(b) of Regulation NMS; and the OTC 
Reporting Facility (``ORF''), to which members report transactions 
in ``OTC Equity Securities,'' as defined in FINRA Rule 6420 (i.e., 
non-NMS stocks such as OTC Bulletin Board and OTC Market 
securities), as well as transactions in Restricted Equity 
Securities, as defined in FINRA Rule 6420, effected pursuant to 
Securities Act Rule 144A.
    \4\ See Securities Exchange Act Release No. 70924 (November 22, 
2013), 78 FR 71695 (``Notice'').
    \5\ See Letter to Elizabeth M. Murphy, Secretary, Commission, 
from Manisha Kimmel, Executive Director, Financial Information 
Forum, dated December 20, 2013 (``FIF 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 these proposed rule changes should be disapproved. 
The 45th day for this filing is January 13, 2014.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. 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 and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \7\ 
and for the reasons stated above, the Commission designates February 
27, 2014, 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-2013-050).
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    \7\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).

    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. 2014-00574 Filed 1-14-14; 8:45 am]
BILLING CODE 8011-01-P