[Federal Register Volume 89, Number 142 (Wednesday, July 24, 2024)]
[Notices]
[Pages 59948-59949]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16224]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100555; File No. SR-FINRA-2024-004]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of Longer Period for Commission 
Action on Proceedings To Determine Whether To Approve or Disapprove a 
Proposed Rule Change To Amend FINRA Rule 6730 (Transaction Reporting) 
To Reduce the 15-Minute TRACE Reporting Timeframe to One Minute

July 18, 2024.
    On January 11, 2024, 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 FINRA Rule 6730 to reduce the 15-minute 
reporting timeframe for transactions reported to FINRA's Trade 
Reporting and Compliance Engine (``TRACE'') system to one minute, with 
exceptions for FINRA member firms with de minimis reporting activity 
and for manual trades. The proposed rule change was published for 
comment in the Federal Register on January 25, 2024.\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. 99825 (March 21, 
2024), 89 FR 22294. Comments received on the proposed rule change 
are available at: https://www.sec.gov/comments/sr-finra-2024-004/srfinra2024004.htm.
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    On February 29, 2024, pursuant to Section 19(b)(2) of the Act,\4\ 
the Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.\5\ On April 22, 2024, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 99640 (Feb. 29, 
2024), 89 FR 16042 (March 6, 2024). The Commission designated April 
24, 2024, as the date by which the Commission shall approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 100006 (Apr. 22, 
2024), 89 FR 32475 (Apr. 26, 2024).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
proceedings, the

[[Page 59949]]

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 the 
reasons for such determination. The proposed rule change was published 
for comment in the Federal Register on January 25, 2024.\9\ The 180th 
day after publication of the notice for this proposed rule change is 
July 23, 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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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3 and accompanying text.
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    The Commission finds that it is 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 Act,\10\ designates 
September 20, 2024, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-FINRA-2024-
004).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-16224 Filed 7-23-24; 8:45 am]
BILLING CODE 8011-01-P