
[Federal Register Volume 77, Number 13 (Friday, January 20, 2012)]
[Notices]
[Page 3019]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-1026]



[[Page 3019]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-66149; File No. SR-FINRA-2011-069]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on Proposed Rule Change Relating to Post-Trade 
Transparency for Agency Pass-Through Mortgage-Backed Securities Traded 
TBA

January 13, 2012.
    On November 22, 2011, the Financial Industry Regulatory Authority, 
Inc. (``FINRA'') filed with the Securities and Exchange Commission (the 
``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change related to post-trade transparency for agency 
pass-through mortgage-backed securities traded ``to be announced'' 
(``MBS TBA Transactions''). The proposed rule change was published for 
comment in the Federal Register on December 8, 2011.\3\ The Commission 
received one comment letter on the proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 65877 (December 2, 
2011), 76 FR 76777.
    \4\ See letter from Chris Killian, Managing Director, 
Securitization, Securities Industry and Financial Markets 
Association, to Elizabeth M. Murphy, Secretary, Commission, dated 
December 22, 2011.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ 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 January 22, 2012. The Commission is 
extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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 any response to the comment submitted by FINRA. 
The proposed rule change would, among other things, provide for post-
trade transparency of MBS TBA Transactions that are reported to the 
Trade Reporting and Compliance Engine (``TRACE'').
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates March 7, 2012, as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Kevin M. O'Neill,
Deputy Secretary.
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

[FR Doc. 2012-1026 Filed 1-19-12; 8:45 am]
BILLING CODE 8011-01-P


