New York Stock Exchange LLC operates as a liquid cash equities exchange. It provides a marketplace where investors buy and sell listed companies common stock and other securities. The company is based in New York, New York. New York Stock Exchange LLC operates as a subsidiary of NYSE Group, Inc.
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Filing and Effectiveness of Proposes Rule Change to Amend Several NYSE Rules to Reflect Changes to Rules and Adopt Guidance of the Financial Industry Regulatory Authority Notice Posted in Federal Register
Jul 16 13
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the Act) and Rule 19b-4 there under, notice is hereby given that on June 26, 2013, New York Stock Exchange LLC (NYSE or the Exchange) filed with the Securities and Exchange Commission (the Commission) the proposed rule change as described in Items I, II, and III, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. The Exchange proposes to amend and adopt several NYSE rules to reflect changes to rules of the Financial Industry Regulatory Authority (FINRA). Specifically, the Exchange proposes to: Amend Rule 8210 to conform to changes recently adopted by FINRA for FINRA Rule 8210, which concerns the provision of information and testimony and inspection and copying of books and records; adopt certain FINRA guidance on the Rule 8000-9000 Series; and amend Rule 8320 with respect to the non-payment of fines. In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, the proposed rule changes and discussed any comments it received on the proposed rule changes. FINRA recently amended FINRA Rule 8210, effective February 25, 2013. The Exchange proposes to amend the text of Rule 8210 to conform to FINRA Rule 8210. The Exchange's Rule 8210 became operative on July 1, 2013, which was the date that the Exchange had announced as the operative date of the Rule 8000-9000 Series. The text of the rule is substantially the same as the text of FINRA's rule, except for technical and conforming amendments. Rule 8210 confers on Exchange staff the authority to compel a member organization or covered person to produce documents, provide testimony, or supply written responses or electronic data in connection with an investigation, complaint, examination, or adjudicatory proceeding. The proposed rule change would clarify the scope of the Exchange's authority under the rule to inspect and copy the books, records, and accounts of such member organizations or covered persons, specify the method of service for certain unregistered persons under the rule, and authorize service on attorneys who are representing clients. Rule 8210 applies to all member organizations and covered persons over whom the Exchange has jurisdiction, including former covered persons subject to the Exchange's jurisdiction as described in Rule 8130. Rule 8210(c) provides that a member organization's or covered person's failure to provide information or testimony or to permit an inspection and copying of books, records, or accounts is a violation of the rule. The Exchange has determined that all interpretive guidance issued by FINRA with respect to the Rule 8000-9000 Series for which the Exchange has adopted substantially the same rule text would be equally applicable in NYSE investigations and disciplinary proceedings as a stated policy and practice of the Exchange. The Exchange notes that it has not adopted the text of certain FINRA rules, which are marked "Reserved" in the Exchange's rulebook. The text of Rule 9217 and the Rule 9300 Series are not substantially the same as FINRA's counterpart rules because the Exchange has retained its own list of minor rule violations and its own appellate process. As such, FINRA guidance concerning such rules and "Reserved" rules would not be applicable. The Exchange believes that this policy and practice would help ensure that there is consistency in the application of substantially similar rules.