[Federal Register Volume 77, Number 237 (Monday, December 10, 2012)]
[Rules and Regulations]
[Pages 73302-73305]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-29712]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-68357; File No. S7-44-10]
RIN 3235-AK87


Extension of Dates for Certain Requirements and Amendment of Form 
19b-4

AGENCY: Securities and Exchange Commission.

ACTION: Final rule; extension of dates for certain requirements.

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SUMMARY: The Commission is amending its regulations under the 
Securities Exchange Act of 1934 (``Exchange Act'') to extend the dates 
for certain requirements therein and amending the General Instructions 
to Form 19b-4 to clarify the process for submitting advance notices and 
security-based swap submissions to the Commission. The Commission is 
extending the dates with respect to the requirements that designated 
clearing agencies for which the Commission is the supervisory agency 
file advance notices and clearing agencies file security-based swap 
submissions with the Commission in an electronic format to dedicated 
email addresses to December 10, 2013 in order to prevent the scenario 
that such filings are required to be filed with the Commission through 
a system that is not yet technologically able to accept them.

DATES: The effective date for this release is December 10, 2012.

FOR FURTHER INFORMATION CONTACT: Kenneth Riitho, Special Counsel, at 
551-5592; and Wyatt A. Robinson, Attorney-Adviser, at 551-5649, 
Division of Trading and Markets, Securities and Exchange Commission, 
100 F Street NE., Washington, DC 20549-7010.

SUPPLEMENTARY INFORMATION:

I. Introduction

    On June 28, 2012, the Commission adopted amendments to Rule 19b-4 
and Form 19b-4 to define and describe when notices of proposed changes 
to rules, procedures, or operations are required to be filed by 
designated financial market utilities in accordance with Section 806(e) 
of Title VIII of the Dodd-Frank Act \1\ (``Advance Notices''), to set 
forth the process for filing such Advance Notices with the Commission, 
and to specify the process for a clearing agency's submission for 
review of any security-based swap, or any group, category, type, or 
class of security-based swaps that the clearing agency plans to accept 
for clearing (``Security-Based Swap Submissions'').\2\ The effective 
date for the amendments to Rule 19b-4 was August 13, 2012. The 
effective date for all amendments to Form 19b-4 and 17 CFR 249.819 is 
December 10, 2012.
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    \1\ Section 806(e) of Title VIII of the Dodd-Frank Act requires 
any financial market utility designated by the Financial Stability 
Oversight Council (``Council'') as systemically important to file 
with its supervisory agency 60 days advance notice of changes to its 
rules, procedures, or operations that could materially affect the 
nature or level of risk presented by the financial market utility. 
12 U.S.C. 5465(e)(1)(A).
    \2\ See Securities Exchange Act Release No. 67286 (June 28, 
2012), 77 FR 41602 (July 13, 2012) (``Adopting Release'').
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    Rule 19b-4(n)(1)(i) requires a DCA \3\ for which the Commission is 
the supervisory agency to provide an Advance Notice to the Commission 
of any proposed change to its rules, procedures, or operations that 
could materially affect the nature or level of risks presented by such 
DCA.\4\ Except as provided in Rule 19b-4(n)(1)(ii), a DCA for which the 
Commission is the supervisory agency is required to submit such Advance 
Notice to the Commission electronically on Form 19b-4. Rule 19b-
4(n)(1)(ii) requires a DCA that files an Advance Notice with the 
Commission prior to December 10, 2012 to file such Advance Notice in an 
electronic format to a dedicated email address established by the 
Commission.\5\
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    \3\ Six clearing agencies registered with the Commission are 
DCAs: Chicago Mercantile Exchange Inc. (``CME''), The Depository 
Trust Company (``DTC''), Fixed Income Clearing Corporation 
(``FICC''), ICE Clear Credit (``ICC''), National Securities Clearing 
Corporation (``NSCC''), and The Options Clearing Corporation 
(``OCC''). However, the Commission is the supervisory agency for 
only DTC, FICC, NSCC, and OCC.
    \4\ See 17 CFR 240.19b-4(n)(1)(i).
    \5\ See 17 CFR 240.19b-4(n)(1)(ii). Currently, DCAs file Advance 
Notices with the Commission via the dedicated email address 
AdvanceNoticeFilings@sec.gov.
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    Rule 19b-4(o)(2)(i) requires that except as provided in Rule 19b-
4(o)(2)(ii), a clearing agency shall submit each Security-Based Swap 
Submission to the Commission electronically on Form 19b-4.\6\ Rule 19b-
4(o)(2)(ii) requires a clearing agency that files a Security-Based Swap 
Submission with the Commission prior to December 10, 2012 to file such 
Security-Based Swap Submission in electronic format to a dedicated 
email address established by the Commission.\7\
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    \6\ See 17 CFR 240.19b-4(o)(2)(i).
    \7\ See 17 CFR 240.19b-4(o)(2)(ii). The Commission has 
established the dedicated email address SBSwapsSubmissions@sec.gov 
for Security-Based Swap Submissions.
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    The amendments to Form 19b-4 contained in the Adopting Release 
provide that, among other things, after December 10, 2012, Advance 
Notices and Security-Based Swap Submissions, and amendments, 
extensions, and withdrawals thereto, shall be filed in an electronic 
format through the Electronic Form 19b-4 Filing System (``EFFS'').\8\
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    \8\ Adopting Release at 41653, 41654. Currently, EFFS is used by 
self-regulatory organizations (``SRO''), which include registered 
clearing agencies, to file proposed rule changes electronically with 
the Commission pursuant to Exchange Act Section 19(b) and Rule 19b-
4.
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II. Discussion

A. Rules 19b-4(n)(1)(ii) and 19b-4(o)(2)(ii)

    The Commission stated in the Adopting Release that it was in the 
process of designing and implementing EFFS system upgrades that are 
necessary for Advance Notices and Security-Based Swap Submissions to be 
filed through EFFS.\9\ The Commission anticipated in the Adopting 
Release that the EFFS system upgrades would be completed no later than 
December 10, 2012.\10\ Prior to December 10, 2012, DCAs for which the 
Commission is the supervisory agency are required to file Advance 
Notices and clearing agencies are required to file Security-Based Swap 
Submissions through dedicated email addresses established by the 
Commission.\11\
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    \9\ See Adopting Release at 41606, 41620.
    \10\ See id.
    \11\ See id. The Commission has maintained a dedicated email 
address to receive Advance Notices and a dedicated email address to 
receive Security-Based Swap Submissions since July 19, 2012. The 
Commission has received five Advance Notices and zero Security-Based 
Swap Submissions through November 28, 2012.
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    Though the Commission has made progress on designing and 
implementing the EFFS system upgrades since the date of the Adopting 
Release, the Commission has determined that additional time is required 
to design, test, and implement the EFFS system upgrades. Therefore, the 
Commission is amending Rule 19b-

[[Page 73303]]

4(n)(1)(ii) and Rule 19b-4(o)(2)(ii) to extend the dates with respect 
to the requirements that a DCA for which the Commission is the 
supervisory agency file an Advance Notice and a clearing agency file a 
Security-Based Swap Submission with the Commission in an electronic 
format to a dedicated email address established by the Commission to 
December 10, 2013. Extending the date prevents the scenario that DCAs 
for which the Commission is the supervisory agency are required to file 
Advance Notices and clearing agencies are required to file Security-
Based Swap Submissions with the Commission through a system that is not 
yet technologically able to accept such filings. The Commission 
believes that an extension of the date to December 10, 2013, should 
provide the time necessary to complete implementation of the EFFS 
system upgrades.
    In considering whether to extend the date with respect to the 
filing of Advance Notices and Security-Based Swap Submissions in an 
electronic format to a dedicated email address established by the 
Commission, the Commission's primary objective is to ensure that DCAs 
for which the Commission is the supervisory agency desiring to submit 
Advance Notices and clearing agencies desiring to submit Security-Based 
Swap Submissions to the Commission have a dependable mechanism with 
which to do so. As noted above, the Commission has maintained dedicated 
email addresses to receive Advance Notices and Security-Based Swap 
Submissions since July 19, 2012, and DCAs for which the Commission is 
the supervisory agency have developed a familiarity with this temporary 
mechanism to deliver Advance Notices to the Commission. Furthermore, 
the dedicated email address for submitting Advance Notices has operated 
according to design at all times during the period for which it has 
been in effect and the Commission has not received any complaints 
regarding the dedicated email address from DCAs for which the 
Commission is the supervisory agency.

B. General Instructions for Form 19b-4

    In the Adopting Release, the Commission amended the General 
Instructions for Form 19b-4 to require, among other things, DCAs for 
which the Commission is the supervisory agency to submit Advance 
Notices and clearing agencies to submit Security-Based Swap Submissions 
to the Commission in an electronic format through EFFS.\12\ The 
effective date of the amendments to Form 19b-4, including the 
amendments to the General Instructions, is December 10, 2012.
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    \12\ See Adopting Release at 41624.
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    In this release, the Commission is amending the General 
Instructions for Form 19b-4 to continue the requirement that DCAs for 
which the Commission is the supervisory agency file Advance Notices and 
amendments, extensions, or withdrawals thereto, and clearing agencies 
file Security-Based Swap Submissions, and amendments, extensions, or 
withdrawals thereto, to the Commission through dedicated email 
addresses until December 10, 2013. Specifically, the Commission is 
amending section A, ``Use of the Form,'' and section F, ``Signature and 
Filing of the Completed Form,'' of the General Instructions for Form 
19b-4 to require DCAs for which the Commission is the supervisory 
agency to file Advance Notices and amendments, extensions, and 
withdrawals thereto, with the Commission by using the dedicated email 
address AdvanceNoticeFilings@sec.gov and to require clearing agencies 
to file Security-Based Swap Submissions and amendments, extensions, and 
withdrawals thereto, with the Commission by using the dedicated email 
address SBSwapsSubmissions@sec.gov. Finally, to facilitate the filing 
of Form 19b-4 to the dedicated email addresses, the Commission is also 
amending section A of the General Instructions for Form 19b-4 to state 
that blank electronic and PDF versions of Form 19b-4 are available on 
EFFS and www.sec.gov.
    To the extent that EFFS is available for such Advance Notices and 
Security-Based Swap Submissions before December 10, 2013, the 
Commission will issue a notice to inform DCAs for which the Commission 
is the supervisory agency that they may begin voluntarily to submit 
Advance Notices and clearing agencies that they may begin voluntarily 
to submit Security-Based Swap Submissions through EFFS.
    The Commission finds, for good cause, that notice and solicitation 
of comment regarding the extension of the dates and the conforming 
change to the General Instructions for Form 19b-4 set forth herein are 
impractical, unnecessary, and contrary to the public interest.\13\ 
Notice and solicitation of comment is unnecessary because the extension 
of the dates and amendment to the General Instructions for Form 19b-4 
simply preserve the status quo \14\ until the EFFS system upgrade is 
completed by continuing the mechanism by which DCAs for which the 
Commission is the supervisory agency file Advance Notices with the 
Commission and clearing agencies file Security-Based Swap Submissions 
with the Commission. Notice and solicitation of comment is impractical 
and contrary to the public interest because it would temporarily create 
the scenario that DCAs for which the Commission is the supervisory 
agency are required to file Advance Notices and clearing agencies are 
required to file Security-Based Swap Submissions with the Commission 
through a system that is not yet technologically able to accept such 
filings.
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    \13\ See Section 553(b)(3)(B) of the Administrative Procedure 
Act (5 U.S.C. 553(b)(3)(B)) (stating that an agency may dispense 
with prior notice and comment when it finds, for good cause, that 
notice and comment are ``impractical, unnecessary, or contrary to 
the public interest''). This finding also satisfies the requirements 
of 5 U.S.C. 808(2), allowing the rules to become effective 
notwithstanding the requirement of 5 U.S.C. 801 (stating that if a 
federal agency finds that notice and public comment are 
``impractical, unnecessary or contrary to the public interest,'' a 
rule ``shall take effect at such time as the federal agency 
promulgating the rule determines''). Also, because the Regulatory 
Flexibility Act (5 U.S.C. 601-612) only requires agencies to prepare 
analyses when the Administrative Procedures Act requires general 
notice of rulemaking, that Act does not apply to the actions that we 
are taking in this release.
    \14\ A dedicated email address has been used successfully for 
these purposes since the effective date of the Adopting Release. See 
supra note 11 and accompanying text.
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III. Paperwork Reduction Act

    The rule amendments contain ``collection of information'' 
requirements as defined by the Paperwork Reduction Act of 1995, as 
amended (``PRA''),\15\ but the Commission believes that these rule 
amendments will not impose any new burdens or costs upon DCAs or 
clearing agencies.
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    \15\ 44 U.S.C. 3501, et seq.
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    The rule amendments further modify recent amendments to Rule 19b-4 
under the Exchange Act, by amending Rule 19b-4(n)(1)(ii) to extend the 
date with respect to the requirement that a DCA shall file an Advance 
Notice with the Commission in electronic format to a dedicated email 
address established by the Commission to December 10, 2013, and 
amending Rule 19b-4(o)(2)(ii) to extend the date with respect to the 
requirement that a clearing agency file Security-Based Swap Submissions 
with the Commission in an electronic format to a dedicated email 
address established by the Commission to December 10, 2013.
    The Commission therefore does not believe that these amendments 
would require any new or additional ``collection of information'' as 
such term

[[Page 73304]]

is defined in the PRA and will not impose any new burdens or costs upon 
DCAs or clearing agencies.

IV. Economic Analysis

    The Commission is sensitive to the economic effects of the 
amendments to Rule 19b-4, including its costs and benefits. Section 
23(a) \16\ of the Exchange Act requires the Commission, when making 
rules and regulations under the Exchange Act, to consider the impact a 
new rule would have on competition. Section 23(a)(2) of the Exchange 
Act prohibits the Commission from adopting any rule that would impose a 
burden on competition not necessary or appropriate in furtherance of 
the purposes of the Exchange Act. Section 3(f) of the Exchange Act \17\ 
requires the Commission, when engaging in rulemaking that requires it 
to consider whether an action is necessary or appropriate in the public 
interest, to consider, in addition to the protection of investors, 
whether the action would promote efficiency, competition, and capital 
formation.
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    \16\ 15 U.S.C. 78w(a).
    \17\ 15 U.S.C. 78c(f).
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    The amendments to Rule 19b-4(n)(1)(ii) and Rule 19b-4(o)(2)(ii) 
will affect DCAs for which the Commission is the Supervisory Agency and 
clearing agencies registered with the Commission that clear security-
based swaps. Four clearing agencies are DCAs for which the Commission 
is the supervisory agency (DTC, FICC, NSCC, and OCC) and three clearing 
agencies registered with the Commission currently clear security-based 
swaps (CME, ICC, and ICE Clear Europe).
    The extension of the dates and amendment to the General 
Instructions for Form 19b-4 simply preserve the status quo that has 
operated without complaint \18\ by continuing the method by which DCAs 
for which the Commission is the supervisory agency file Advance Notices 
and clearing agencies file Security-Based Swap Submissions with the 
Commission.\19\ Though the Commission stated in the Adopting Release 
that Advance Notices and Security-Based Swap Submissions, and 
amendments, extensions, and withdrawals thereto, should be filed in an 
electronic format through EFFS starting on December 10, 2012, because 
the EFFS system upgrades that are necessary for Advance Notices and 
Security-Based Swap Submissions to be filed on EFFS were not complete 
when the Commission adopted Rule 19b-4(n) and Rule 19b-4(o), the 
Commission mandated through Rules 19b-4(n)(1)(ii) and 19b-4(o)(2)(ii) 
that a DCA for which the Commission is the supervisory agency that 
files an Advance Notice or a clearing agency that files a Security-
Based Swap Submission with the Commission prior to December 10, 2012 
shall file such Advance Notice or Security-Based Swap Submission in 
electronic format to a dedicated email address established by the 
Commission.\20\ Because the Commission has determined that additional 
time is required to design, test, and implement the EFFS system 
upgrades, an extension of the December 10, 2012 date for the use of 
dedicated email addresses to file Advance Notices or Security-Based 
Swap Submissions is necessary and appropriate to prevent the scenario 
that DCAs for which the Commission is the supervisory agency are 
required to file Advance Notices and clearing agencies are required to 
file Security-Based Swap Submissions with the Commission through a 
system that is not yet technologically able to accept such filings and 
to ensure the Commission continues to obtain the information necessary 
to meet its statutory obligations in connection with Advance Notices 
and Security-Based Swap Submissions.
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    \18\ See supra note 11 and accompanying text.
    \19\ The Commission does not believe that there are any viable 
and more cost-efficient alternatives to extending the date of the 
use of the dedicated email addresses for the submission of Advance 
Notices and Security-Based Swap Submissions given the fact that the 
EFFS system upgrades that are necessary for Advance Notices and 
Security-Based Swap Submissions to be filed on EFFS will not be 
complete by December 10, 2012.
    \20\ See 17 CFR 240.19b-4(n)(1)(ii) and 17 CFR 240.19b-
4(o)(2)(ii).
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    Theoretically, the cost of foregoing the ability to file Advance 
Notices and Security-Based Swap Submissions through the EFFS system 
could be incurred by DCAs for which the Commission is the supervisory 
agency and clearing agencies as a result of the amendments to the rules 
extending the dates with respect to the filing of Advance Notices and 
Security-Based Swap Submissions to dedicated email addresses 
established by the Commission. However, this theoretical cost is not a 
real cost of the rule because use of the EFFS system is not an option. 
Instead, the amendments to the rules extending the dates for filing 
Advance Notices and Security-Based Swap Submissions to dedicated email 
addresses established by the Commission avoids the cost of eliminating 
the ability of DCAs for which the Commission is the supervisory agency 
to file Advance Notices and clearing agencies to file Security-Based 
Swap Submissions to the Commission through the only method that is 
currently technologically available. Furthermore, extending the dates 
also enables the Commission to continue to obtain the information that 
is necessary to meet its statutory obligations with respect to the 
enhanced oversight of systemically important financial market utilities 
and the mandatory clearing of security-based swaps.
    The Commission believes that the rule amendments will not lead to 
any material increase in the costs associated with filing Advance 
Notices and Security-Based Swap Submissions. The Commission stated in 
the Adopting Release that it believed that the requirements to file 
Advance Notices and Security-Based Swap Submissions by email, as well 
as the temporary nature of such requirements, would impose relatively 
little additional burden on DCAs for which the Commission is the 
supervisory agency or clearing agencies, both of which can use their 
existing email systems to make such filings.\21\ The Commission further 
believes that any additional negligible costs are justified because 
additional time is required to design, test, and implement the EFFS 
system upgrades that will facilitate the filing of Advance Notices and 
Security-Based Swap Submissions with the Commission in accordance with 
Rule 19b-4(n) and Rule 19b-4(o). As stated above, the Commission's 
primary objective is to ensure that clearing agencies desiring to 
submit Advance Notices or Security-Based Swap Submissions to the 
Commission have a dependable mechanism with which to do so.
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    \21\ See Adopting Release at 41642, 41645.
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    Because these rules merely extend the date for the process by which 
DCAs for which the Commission is the supervisory agency file Advance 
Notices and clearing agencies file Security-Based Swap Submissions, the 
Commission believes that the rules being adopted today will have a 
negligible, if any, impact on efficiency, competition, and capital 
formation. To the extent that the rule amendments impose a new burden 
upon market participants, such burden will result from the requirement 
that DCAs for which the Commission is the supervisory agency filing 
Advance Notices and clearing agencies filing Security-Based Swap 
Submissions with the Commission submit Form 19b-4 to a dedicated email 
address as opposed to submitting it through EFFS. Regardless of whether 
Form 19b-4 is submitted through EFFS or a dedicated email address, DCAs 
for which the Commission is the supervisory agency

[[Page 73305]]

and clearing agencies will still be required to adequately and 
accurately complete such form. Furthermore, the Commission believes 
that the interest of gaining additional time to effectively develop, 
test, and implement the EFFS system upgrades necessary for filing 
Advance Notices and Security-Based Swaps Submissions in a manner that 
would be consistent with the requirements and goals of Rule 19b-
4(n)(1)(i) and Rule 19b-4(o)(2)(i) justifies the risk of possibly 
imposing a negligible burden on DCAs for which the Commission is the 
supervisory agency and clearing agencies.

V. Statutory Authority

    Pursuant to the Exchange Act, and particularly Sections 3C, 17A, 
and 19(b) thereof, 15 U.S.C. 78c-3, 78q-1, and 78s(b), and Section 
806(e) of the Clearing Supervision Act, 12 U.S.C. 5465(e), the 
Commission is amending Rule 19b-4 and Form 19b-4 as set forth below.

List of Subjects in 17 CFR Part 240

    Brokers, Reporting and recordkeeping requirements, Securities.

Text of the Final Rule

    In accordance with the foregoing, Title 17, chapter II of the Code 
of Federal Regulations is amended as follows:

PART 240--GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 
1934

0
1. The general authority citation for part 240 is revised to read as 
follows:

    Authority:  15 U.S.C. 77c, 77d, 77g, 77j, 77s, 77z-2, 77z-3, 
77eee, 77ggg, 77nnn, 77sss, 77ttt, 78c, 78c-3, 78d, 78e, 78f, 78g, 
78i, 78j, 78j-1, 78k, 78k-1, 78l, 78m, 78n, 78o, 78o-4, 78p, 78q, 
78s, 78u-5, 78w, 78x, 78ll, 78mm, 80a-20, 80a-23, 80a-29, 80a-37, 
80b-3, 80b-4, 80b-11, and 7201 et seq.; 18 U.S.C. 1350, 12 U.S.C. 
5221(e)(3), and Pub. L. 111-203, section 939A, 124 Stat. 1376, 
(2010), unless otherwise noted.
* * * * *

0
2. Section 240.19b-4 is amended by:
0
a. In paragraph (n)(1)(ii), removing the phrase ``December 10, 2012'' 
and adding in its place ``December 10, 2013'';
0
b. In paragraph (o)(2)(ii), removing the phrase ``December 10, 2012'' 
and adding in its place ``December 10, 2013''.

PART 249--FORMS, SECURITIES EXCHANGE ACT OF 1934

0
3. The general authority citation for part 249 is revised to read as 
follows:

    Authority:  15 U.S.C. 78a et seq. and 7201 et seq.; 12 U.S.C. 
5461 et seq.; and 18 U.S.C. 1350, unless otherwise noted.
* * * * *

0
4. Form 19b-4 (referenced in Sec.  249.819) is amended by revising 
General Instructions for Form 19b-4 Sections A and F to read as 
follows: \22\
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    \22\ Because Section 19(b)(7)(C) of the Act states that filings 
abrogated pursuant to this Section should be re-filed pursuant to 
paragraph (b)(1) of Section 19 of the Act, SROs are required to file 
electronically such proposed rule changes in accordance with this 
form.

    Note:  The text of Form 19b-4 does not and the amendments will 
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not appear in the Code of Federal Regulations.

General Instructions for Form 19b-4

A. Use of the Form

    This form shall be used for all self-regulatory organization 
filings of proposed rule changes pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') (except filings with respect 
to proposed rule changes by self-regulatory organizations submitted 
pursuant to Section 19(b)(7) of the Act), security-based swap 
submissions, and advance notices. National securities exchanges, 
registered securities associations, registered clearing agencies, and 
the Municipal Securities Rulemaking Board are self-regulatory 
organizations for purposes of this form. All proposed rule changes 
(except filings with respect to proposed rule changes by self-
regulatory organizations submitted pursuant to Section 19(b)(7) of the 
Act) shall be filed in an electronic format through the Electronic Form 
19b-4 Filing System (``EFFS''), a secure Web site operated by the 
Commission. All security-based swap submissions and advance notices 
shall be filed by submitting Form 19b-4 to a dedicated email address, 
SBSwapsSubmissions@sec.gov for security-based swap submissions and 
AdvanceNoticeFilings@sec.gov for advance notices. An electronic version 
of Form 19b-4 is available in EFFS. A PDF version of the Form is also 
available on www.sec.gov.
* * * * *

F. Signature and Filing of the Completed Form

    All proposed rule changes, amendments, extensions, and withdrawals 
of proposed rule changes shall be filed through the EFFS. All security-
based swap submissions, advance notices, and amendments, extensions, 
and withdrawals of security-based swap submissions and advance notices 
shall be filed to a dedicated email address established by the 
Commission, SBSwapsSubmissions@sec.gov for security-based swap 
submissions and AdvanceNoticeFilings@sec.gov for advance notices. In 
order to file Form 19b-4 through EFFS, self-regulatory organizations 
must request access to the SEC's External Application Server by 
completing a request for an external account user ID and password. 
Initial requests will be received by contacting the Trading and Markets 
Administrator located on our Web site (http://www.sec.gov). An email 
will be sent to the requestor that will provide a link to a secure Web 
site where basic profile information will be requested.
    A duly authorized officer of the self-regulatory organization shall 
electronically sign the completed Form 19b-4 as indicated on Page 1 of 
the Form. In addition, a duly authorized officer of the self-regulatory 
organization shall manually sign one copy of the completed Form 19b-4, 
and the manually signed signature page shall be maintained pursuant to 
Section 17 of the Act. A registered clearing agency for which the 
Commission is not the appropriate regulatory agency also shall file 
with its appropriate regulatory agency three copies of the form, one of 
which shall be manually signed, including exhibits. A clearing agency 
that also is a designated clearing agency shall file with the Board of 
Governors of the Federal Reserve System (``Federal Reserve'') three 
copies of any form containing an advance notice, one of which shall be 
manually signed, including exhibits; provided, however, that this 
requirement may be satisfied instead by providing the copies to the 
Federal Reserve in an electronic format as permitted by the Federal 
Reserve. The Municipal Securities Rulemaking Board also shall file 
copies of the form, including exhibits, with the Federal Reserve, the 
Comptroller of the Currency, and the Federal Deposit Insurance 
Corporation.
* * * * *

    Dated: December 5, 2012.

    By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-29712 Filed 12-7-12; 8:45 am]
BILLING CODE 8011-01-P