[Federal Register Volume 86, Number 221 (Friday, November 19, 2021)]
[Notices]
[Pages 64976-64978]
[FR Doc No: 2021-25229]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93577; File No. SR-Phlx-2021-68]

Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend FINRA Fees

November 15, 2021.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act''),\2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on November 5, 2021, Nasdaq PHLX LLC (``Phlx'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend Phlx's Pricing Schedule at Equity 7,
Section 4, Membership Fees, and Options 7, Section 9, Other Member
Fees, to reflect adjustments to FINRA Registration Fees and
Fingerprinting Fees.
    While the changes proposed herein are effective upon filing, the
Exchange has designated the amendments become operative on January 2,
2022.\4\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 90176 (October 14,
2020), 85 FR 66592 (October 20, 2020) (SR-FINRA-2020-032) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To
Adjust FINRA Fees To Provide Sustainable Funding for FINRA's
Regulatory Mission).
---------------------------------------------------------------------------

    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/phlx/rules, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
    This proposal amends Phlx's Schedule at Equity 7, Section 4,
Membership Fees, and Options 7, Section 9, Other Member Fees, to
reflect adjustments to FINRA Registration Fees and Fingerprinting
Fees.\5\ The FINRA fees are collected and retained by FINRA via Web CRD
for the registration of employees of Phlx members that are not FINRA
members (``Non-FINRA members''). The Exchange is merely listing these
fees on its Pricing Schedule. The Exchange does not collect or retain
these fees.
---------------------------------------------------------------------------

    \5\ FINRA operates Web CRD, the central licensing and
registration system for the U.S. securities industry. FINRA uses Web
CRD to maintain the qualification, employment and disciplinary
histories of registered associated persons of broker-dealers.
---------------------------------------------------------------------------

Options 7
    Today, Phlx Options 7, Section 9C, provides a list of FINRA Fees.
The Exchange proposes to amend Options 7, Section 9C to: (1) Add the
title ``General Registration Fees:''; (2) indicate ``CRD'' is the
``Central Registration Depository'' or ``CRD''; and (3) remove the
numbering from (1) to (3).
    With respect to the General Registration Fees, the Exchange
proposes to increase the $100 fee to $125 for each initial Form U4
filed for the registration of a representative or principal. This
amendment is made in accordance with a recent FINRA rule change to
adjust to its fees.\6\ The Exchange also proposes to amend the
description of the $45 registration fee from ``annually for each of the
member's registered representatives and principals for system
processing'' to ``FINRA Annual System Processing Fee Assessed only
during Renewals.'' The proposed new title is more precise.
---------------------------------------------------------------------------

    \6\ Id. FINRA noted in its rule change that it was adjusting its
fees to provide sustainable funding for FINRA's regulatory mission.
---------------------------------------------------------------------------

    With respect to the fingerprint processing fees, the Exchange notes
that the current fees do not reflect the fees assessed by FINRA today.
The Exchange proposes to amend the current fees to reflect the current
fees that are assessed by FINRA. The proposed new rule text, with the
title, ``Fingerprint Processing Fees:'' added, would provide,
    Fingerprint Processing Fees:

$29.50--Initial Submission (Electronic)
$44.50--Initial Submission (Paper)
$15.00--Second Submission (Electronic)
$30.00--Second Submission (Paper)
$29.50--Third Submission (Electronic)
$44.50--Third Submission (Paper)
$30.00--FINRA Processing Fee for Fingerprint Results Submitted by Self-
Regulatory Organizations other than FINRA.

    In 2012, FINRA only offered one set of fees ($27.50 for the initial
submission, $13.00 for the second submission, and $27.50 for the third
submission). In 2013, FINRA amended its fingerprint fees and offered
two sets of fees. For fingerprints submitted on paper card, the fees
are $44.50 per initial submission, $30.00 per second submission, and
$44.50 per third submission. For fingerprints submitted electronically,
the fees are $29.50 per initial submission, $15.00 per second
submission, and $29.50 per third submission.\7\ By updating the

fingerprinting fees, the Exchange would properly reflect the fees
assessed today by FINRA.\8\
---------------------------------------------------------------------------

    \7\ See Securities Exchange Act Release No. 67247 (June 25,
2012) 77 FR 38866 (June 29, 2012) (SR-FINRA-2012-030) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Sections 4 and 6 of Schedule A to the FINRA By-Laws Regarding Fees
Relating to the Central Registration Depository). FINRA notes in
this rule change that it is proposing a two-tiered fingerprint
processing fee structure in part to reflect that the costs
associated with processing fingerprints submitted via a hard copy
fingerprint card are much higher than those that are submitted
electronically. Specifically, fingerprints submitted by a hard copy
card require additional processing by FINRA, including adding a
barcode, if necessary, to the card for tracking purposes; scanning
the fingerprints and converting them to a digital image for
submission to the FBI; and, for first-time registrants, entering the
individual's personal and demographic information into the CRD
system. FINRA noted that members will be able to choose how they
submit their associated persons' fingerprints and therefore will
have some control over the fees they incur for fingerprint
processing. FINRA also noted an FBI Fee of $11.25 is assessed as
well.
    \8\ See https://www.finra.org/registration-exams-ce/classic-crd/fingerprints/fingerprint-fees.
---------------------------------------------------------------------------

    The Exchange is deleting the fees noted within current Options 7,
Section 9C at (4)-(7).\9\ These fingerprint fees, which are proposed to
be deleted, were superseded by the FINRA fingerprinting fees which were
adopted in 2013.
---------------------------------------------------------------------------

    \9\ The Exchange proposes to delete the following rule text:
    (4) $15 for processing and posting to the CRD system each set of
fingerprints submitted electronically by the member, plus a pass-
through of any other charge imposed by the United States Department
of Justice for processing each set of fingerprints;
    (5) $30 for processing and posting to the CRD system each set of
fingerprint cards submitted in non-electronic format by the member
to FINRA, plus any other charge that may be imposed by the United
States Department of Justice for processing each set of
fingerprints;
    (6) $30 for processing and posting to the CRD system each set of
fingerprint results and identifying information that has been
processed through a self-regulatory organization other than FINRA;
and
    (7) $110 for the additional processing of each initial or
amended Form BD that includes the initial reporting, amendment, or
certification of one or more disclosure events or proceedings.
---------------------------------------------------------------------------

    The FINRA Web CRD Fees are user-based and there is no distinction
in the cost incurred by FINRA if the user is a FINRA member or a Non-
FINRA member. Accordingly, the proposed fees mirror those currently
assessed by FINRA.
    The Exchange also proposes to update a rule citation within the
Continuing Education Fees from ``General 4, Section 1.1240'' to
``General 4, Section 1240.''
Equity 7
    The Exchange also proposes to amend Equity 7, Section 4, Membership
Fees, to add a new section ``B'' titled ``Regulatory, Registration, and
Processing Fees.'' This new section ``B'' would inform PSX members that
applicable FINRA fees are located within Options 7, Section 9C. Members
of Phlx may elect to become PSX only members, therefore this new rule
text would provide information to those members regarding FINRA Fees.
The Exchange proposes to state, ``A list of fees that will be collected
and retained by FINRA via the Web CRD registration system for the
registration of associated persons of Exchange members that are not
also FINRA members is available within Options 7, Section 9C.''
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\10\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\11\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

Options 7
    The Exchange believes it is reasonable to increase the $100 fee for
each initial Form U4 filed for the registration of a representative or
principal to $125 in accordance with an adjustment to FINRA's fees.\12\
The Exchange's rule text will reflect the current registration rate
that will be assessed by FINRA as of January 2, 2022. Amending the
title of the $45 fee to be more precise will provide greater
transparency to this fee. Updating FINRA's fingerprint processing fees
to reflect the current charges will bring greater transparency to these
charges that are currently assessed and collected by FINRA. The
proposed fees are identical to those adopted by FINRA for use of Web
CRD for disclosure and the registration of FINRA members and their
associated persons. These costs are borne by FINRA when a Non-FINRA
member uses Web CRD.
---------------------------------------------------------------------------

    \12\ See note 3 above.
---------------------------------------------------------------------------

    The Exchange believes that its proposal to increase the $100 fee
for each initial Form U4 filed for the registration of a representative
or principal to $125 is equitable and not unfairly discriminatory as
the amendment will reflect the current fee that will be assessed by
FINRA to all members who require Form U4 filings as of January 2, 2022.
Amending the title of the $45 fee to be more precise will provide
greater transparency to this fee. Updating the fingerprint processing
fees to reflect the current fees is equitable and not unfairly
discriminatory as FINRA currently assesses these rates to all members.
Further, the proposal is also equitable and not unfairly discriminatory
because the Exchange will not be collecting or retaining these fees,
therefore, the Exchange will not be in a position to apply them in an
inequitable or unfairly discriminatory manner.
Equity 7
    The Exchange's proposal to amend Equity 7, Section 4, Membership
Fees, to add a new section ``B'' titled ``Regulatory, Registration, and
Processing Fees'' that informs members of applicable FINRA Fees is
reasonable. This new section ``B'' would inform PSX members that
applicable FINRA fees are located within Options 7, Section 9C. Members
of Phlx may elect to become PSX only members. The proposed rule text
would provide information to those members regarding FINRA Fees.
    The Exchange's proposal to amend Equity 7, Section 4, Membership
Fees, to add a new section ``B'' titled ``Regulatory, Registration, and
Processing Fees'' that informs members of applicable FINRA Fees is
equitable and not unfairly discriminatory because the Exchange will not
be collecting or retaining these fees, therefore will not be in a
position to apply them in an inequitable or unfairly discriminatory
manner.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Options 7
    The Exchange believes that its proposal to increase the $100 fee
for each initial Form U4 filed for the registration of a representative
or principal to $125 does not impose an undue burden on competition as
the amendment will reflect the current fee that will be assessed by
FINRA to all members who require Form U4 filings as of January 2, 2022.
Amending the title of the $45 fee to be more precise will provide
greater transparency to this fee. Updating the fingerprint processing
fees to reflect the current fees does not impose an undue burden on
competition as FINRA currently assesses these rates to all members.
Further, the proposal does not impose an undue burden on competition
because the Exchange will not be collecting or retaining these fees,
therefore, the Exchange will not be in a position to apply them in an
inequitable or unfairly discriminatory manner.
Equity 7
    The Exchange's proposal to amend Equity 7, Section 4, Membership
Fees, to add a new section ``B'' titled ``Regulatory, Registration, and
Processing Fees'' that informs members of applicable FINRA Fees does
not impose an undue burden on competition because the Exchange will not
be collecting or retaining these fees, therefore will not be in a
position to apply them in an inequitable or unfairly discriminatory
manner.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\13\
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-Phlx-2021-68 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-Phlx-2021-68. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-Phlx-2021-68, and should be submitted on
or before December 10, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-25229 Filed 11-18-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: March 12, 2007 (Volume 72, Number 47)]
[Notices]
[Page 11018]
[DOCID:fr12mr07-91]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP07-316-000]

Viking Gas Transmission Company; Notice of Proposed Changes in
FERC Gas Tariff

March 5, 2007.
    Take notice that on February 28, 2007, Viking Gas Transmission
Company (Viking) tendered for filing to become part of its FERC Gas
Tariff, First Revised Volume No. 1, the tariff sheets attached to the
filing, to become effective on April 1, 2007.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed in accordance with the provisions of
Section 154.210 of the Commission's regulations (18 CFR 154.210).
Anyone filing an intervention or protest must serve a copy of that
document on the Applicant. Anyone filing an intervention or protest on
or before the intervention or protest date need not serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Philis J. Posey,
Acting Secretary.
 [FR Doc. E7-4350 Filed 3-9-07; 8:45 am]

BILLING CODE 6717-01-P