[Federal Register Volume 89, Number 10 (Tuesday, January 16, 2024)]
[Notices]
[Page 2659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00631]



[[Page 2659]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99304; File No. SR-FINRA-2023-010]


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 Provide Relief Relating to 
Specified Option Transactions Under FINRA Rule 4210 (Margin 
Requirements)

January 9, 2024.
    On June 30, 2023, the Financial Industry Regulatory Authority, Inc. 
(``FINRA'') filed with the Securities and Exchange Commission (``SEC'' 
or ``Commission''), pursuant to Section 19(b)(1) of the Securities and 
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend FINRA Rule 4210 (Margin 
Requirements) to provide margin relief for specified index option 
transactions, known as ``protected options,'' and to make other minor 
conforming revisions with regard to the margin relief. The proposed 
rule change was published for comment in the Federal Register on July 
19, 2023.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Exchange Act Release No. 97898 (Jul. 13, 2023), 88 FR 
46204.
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    On August 31, 2023, FINRA extended the time period in which the 
Commission must approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
approve or disapprove the proposed rule change to October 17, 2023.\4\ 
On September 28, 2023, the Commission instituted proceedings to 
determine whether to approve or disapprove the proposed rule change.\5\
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    \4\ See Letter from Adam Arkel, Associate General Counsel, 
FINRA, to Sheila Swartz, Division of Trading and Markets, Commission 
(Aug. 31, 2023).
    \5\ See Exchange Act Release No. 34-98628 (Sep. 28, 2023), 88 FR 
68855 (Oct. 4, 2023). All comments received on the proposed rule 
change are available at https://www.sec.gov/comments/sr-finra-2023-010/srfinra2023010.htm.
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    Section 19(b)(2) of the Exchange Act \6\ provides that, after 
initiating proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes reasons for such determination. The proposed 
rule change was published for notice and comment in the Federal 
Register on July 19, 2023.\7\ The 180th day after publication of the 
proposed rule change is January 15, 2024. The Commission is extending 
the time period for approving or disapproving the proposed rule change 
for an additional 60 days.
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ See supra note 3 and accompanying text.
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change and the issues raised therein. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Exchange Act,\8\ designates March 
15, 2024, as the date by which the Commission shall either approve or 
disapprove the proposed rule change (File No. SR-FINRA-2023-010).
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-00631 Filed 1-12-24; 8:45 am]
BILLING CODE 8011-01-P