[Federal Register Volume 85, Number 34 (Thursday, February 20, 2020)]
[Notices]
[Pages 9887-9888]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03372]


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SECURITIES AND EXCHANGE COMMISSION

[Securities Exchange Act of 1934 Release No. 34-88214/February 14, 
2020]


In the Matter of the Financial Industry Regulatory Authority, 
Inc. for an Order Granting the Approval of Proposed Rule Change, as 
Modified by Amendment No. 2, To Establish a Corporate Bond New Issue 
Reference Data Service (File No. SR-FINRA-2019-008); Order Granting 
Petition for Review and Scheduling Filing of Statements

    This matter comes before the Securities and Exchange Commission 
(``Commission'') on petition to review the approval, pursuant to 
delegated authority, of the Financial Industry Regulatory Authority, 
Inc. (``FINRA'') proposed rule change to establish a new issue 
reference data service for corporate bonds.
    On April 2, 2019, the Commission issued a notice of filing of the 
proposed rule change filed with the Commission pursuant to Section 
19(b)(1) of the Securities Exchange Act of 1934 (``Exchange Act'') \1\ 
and Rule 19b-4 \2\

[[Page 9888]]

thereunder.\3\ On May 22, 2019, a longer time period was designated 
within which to act on the proposed rule change.\4\ On July 1, 2019, 
proceedings were instituted under Section 19(b)(2)(B) of the Exchange 
Act \5\ to determine whether to approve or disapprove the proposed rule 
change.\6\ On October 3, 2019, FINRA filed partial Amendment No. 2 to 
the proposed rule change.\7\ On October 4, 2019, the Commission issued 
a notice of filing of Amendment No. 2 to the proposed rule change and, 
pursuant to Section 19(b)(2) of the Exchange Act,\8\ a longer time 
period was designated for Commission action on proceedings to determine 
whether to approve or disapprove the proposed rule change.\9\ On 
December 4, 2019, after consideration of the record for the proposed 
rule change, the Division of Trading and Markets (``Division''), 
pursuant to delegated authority,\10\ approved the proposed rule change, 
as modified by Amendment No. 2 (``Approval Order'').\11\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Exchange Act Release No. 85488, 84 FR 13977 (Apr. 8, 
2019).
    \4\ See Exchange Act Release No. 85911, 84 FR 24839 (May 29, 
2019).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Exchange Act Release No. 86256, 84 FR 32506 (Jul. 8, 
2019).
    \7\ Partial Amendment No. 1 was filed on October 3, 2019 and 
subsequently withdrawn on the same day due to a non-substantive 
administrative error; it was replaced with Amendment No. 2.
    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Exchange Act Release No. 87232, 84 FR 54712 (Oct. 10, 
2019).
    \10\ 17 CFR 200.30-3(a)(12).
    \11\ See Exchange Act Release No. 87656, 84 FR 67491 (Dec. 10, 
2019).
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    On December 18, 2019, pursuant to Commission Rule of Practice 
430,\12\ Bloomberg, L.P. (``Bloomberg'') filed a petition for review of 
the Approval Order. Pursuant to Commission Rule of Practice 431(e), the 
Approval Order is stayed by the filing with the Commission of a notice 
of intention to petition for review.\13\ Pursuant to Rule 431 of the 
Rules of Practice,\14\ the petition for review of the Approval Order of 
Bloomberg is granted. Further, the Commission hereby establishes that 
any party to the action or other person may file a written statement in 
support of or in opposition to the Approval Order on or before March 
16, 2020.
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    \12\ 17 CFR 201.430.
    \13\ 17 CFR 201.431(e).
    \14\ 17 CFR 201.431.
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    For the reasons stated above, it is hereby:
    Ordered that the petition of Bloomberg for review of the Division's 
action to approve the proposed rule change by delegated authority be 
GRANTED; and
    It is further Ordered that any party or other person may file a 
statement in support of or in opposition to the action made pursuant to 
delegated authority on or before March 16, 2020.
    It is further Ordered that the December 4, 2019, order approving 
the proposed rule change, as modified by Amendment No. 2 (File No. SR-
FINRA-2019-008), shall remain stayed pending further order by the 
Commission.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2020-03372 Filed 2-19-20; 8:45 am]
 BILLING CODE 8011-01-P


