The US Securities and Exchange Commission issued a notice that it is delaying action on FINRA’s Securities Lending and Transparency Engine (SLATE) until further comments are received.
According to the notice:
Section 19(b)(2) of the Act provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on May 7, 2024. November 3, 2024 is 180 days from that date, and January 2, 2025 is 240 days from that date.
The Commission finds it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and its comments. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates January 2, 2025 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-FINRA-2024-007).
The full notice is available at https://www.sec.gov/files/rules/sro/finra/2024/34-101450.pdf