
[Federal Register Volume 80, Number 224 (Friday, November 20, 2015)]
[Notices]
[Page 72775]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-29600]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76444; File No. SR-FINRA-2015-034]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on a Proposed Rule Change To Merge FINRA Dispute 
Resolution, Inc. Into and With FINRA Regulation, Inc.

November 16, 2015.
    On September 29, 2015, 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 merge its dispute resolution subsidiary, FINRA 
Dispute Resolution, Inc. into and with its regulatory subsidiary, FINRA 
Regulation, Inc. In addition, the proposed rule change would amend the 
FINRA Regulation By-Laws to increase the total number of directors who 
could serve on the FINRA Regulation board. The proposed rule change was 
published for comment in the Federal Register on October 13, 2015.\3\ 
The Commission received five comment letters to the proposed rule 
change.\4\
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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. 76082 (October 6, 
2015), 80 FR 61545.
    \4\ See letters from Hugh D. Berkson, President, Public 
Investors Arbitration Bar Association, dated November 3, 2015; Ron 
A. Rhoades, dated November 3, 2015; Jill Gross, Director, Pace 
Investor Rights Clinic, Pace Law School, dated November 3, 2015; 
Larry A. Tawwater, President, American Association for Justice, 
dated November 3, 2015; and William A. Jacobson, Director, Cornell 
Securities Law Clinic, Cornell Law School, dated November 4, 2015.
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    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 November 27, 2015. The Commission is 
extending this 45-day time period. The Commission finds it 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 and the comments received.
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    \5\ 15 U.S.C. 78s(b)(2).
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates January 11, 2016, 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-2015-034).
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-29600 Filed 11-19-15; 8:45 am]
BILLING CODE 8011-01-P


