Skip to Content

Notice

Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Withdrawal of Proposed Rule Change Relating to Quotation Requirements for Unlisted Equity Securities and Deletion of the Rules Related to the OTC Bulletin Board Service

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble March 12, 2015.

On June 27, 2014, 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 adopt rules relating to quotation requirements for over-the-counter (“OTC”) equity securities and to delete the rules relating to the OTC Bulletin Board Service (“OTCBB”) and thus cease its operation. The proposed rule change was published for comment in the Federal Register on July 15, 2014.[3] On August 8, 2014, FINRA consented to extending the time period for the Commission to either approve or disapprove the proposed rule change, or to institute proceedings to determine whether to approve or disapprove the proposed rule change, to October 10, 2014. The Commission received one comment letter on the proposed rule change.[4]

On October 7, 2014, the Commission instituted proceedings [5] to determine whether to approve or disapprove the proposed rule change under Section 19(b)(2)(B) of the Act.[6] The Commission thereafter received three comment letters in response to the Order Instituting Proceedings.[7] On January 9, 2015, the Commission extended the time period for Commission action to March 12, 2015.[8]

On March 3, 2015, FINRA withdrew the proposed rule change (SR-FINRA-2014-030).

Start Signature

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[9]

Brent J. Fields,

Secretary.

End Signature End Preamble

Footnotes

3.  See Securities Exchange Act Release No. 72575 (July 9, 2014), 79 FR 41339 (“Notice”).

Back to Citation

4.  See Letter from Daniel Zinn, General Counsel, OTC Markets Group Inc., dated August 5, 2014.

Back to Citation

5.  See Securities Exchange Act Release No. 73313, 79 FR 61677 (October 14, 2014) (“Order Instituting Proceedings”).

Back to Citation

7.  See Letter from Dr. Lee Jackson, PAHCII, dated October 8, 2014; Letter from Barry Scadden, Vice President, ATS Trade Support and Operations, Global OTC, dated October 10, 2014; and Letter from Michael R. Trocchio, Sidley Austin LLP, on behalf of OTC Markets Group Inc., dated November 4, 2014.

Back to Citation

8.  See Securities Exchange Act Release No. 74021, 80 FR 2142 (January 15, 2015).

Back to Citation

[FR Doc. 2015-06090 Filed 3-16-15; 8:45 am]

BILLING CODE 8011-01-P