80_FR_19450 80 FR 19381 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 4.3, Record of Written Complaints

80 FR 19381 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 4.3, Record of Written Complaints

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 69 (April 10, 2015)

Page Range19381-19383
FR Document2015-08204

Federal Register, Volume 80 Issue 69 (Friday, April 10, 2015) 
[Federal Register Volume 80, Number 69 (Friday, April 10, 2015)]
[Notices]
[Pages 19381-19383]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-08204]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74656; File No. SR-BATS-2015-25]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend 
Rule 4.3, Record of Written Complaints

April 6, 2015.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on March 26, 2015, BATS Exchange, Inc. (the ``Exchange'' or 
``BATS'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I and 
II below, which Items have been prepared by the Exchange. The Exchange 
has designated this proposal as a ``non-controversial'' proposed rule 
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Rule 4.3, Record of Written 
Complaints. The text of the proposed rule change is below. Proposed new 
language is in

[[Page 19382]]

italics; proposed deletions are in brackets.
* * * * *
Rule 4.3. Record of Written Complaints
    (a) Each Member shall keep and preserve for a period of not less 
than [five]four years a file of all written complaints of customers and 
action taken by the Member in respect thereof, if any. Further, for the 
first two years of the [five]four-year period, the Member shall keep 
such file in a place readily accessible to examination or spot checks.
    (b) (No change).
* * * * *

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 II.A., II.B., and II.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
    The Exchange filed a proposal to amend Rule 4.3, Record of Written 
Complaints, to conform with the rules of the Financial Industry 
Regulatory Authority, Inc. (``FINRA'') for purposes of an agreement 
between the Exchange and FINRA, as well as to conform Exchange Rule 4.3 
with the rules of the EDGX Exchange, Inc. (``EDGX'') and the EDGA 
Exchange, Inc. (``EDGA'').\5\
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    \5\ See EDGA and EDGX Rules 4.3. See also Securities Exchange 
Act Release Nos. 70715 (October 15, 2013), 78 FR 64041 (October 18, 
2013) (SR-EDGA-2013-31) (Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change to Amend EDGA Rule 4.3, Record 
of Written Complains, to Conform with Financial Industry Regulatory 
Authority, Inc. Rule 4513); and 70714 (October 15, 2013), 78 FR 
64038 (October 18, 2013) (SR-EDGX-2013-39) (Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change to Amend EDGX Rule 
4.3, Record of Written Complains, to Conform with Financial Industry 
Regulatory Authority, Inc. Rule 4513).
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    Pursuant to Rule 17d-2 under the Act,\6\ the Exchange and FINRA 
entered into an agreement to allocate regulatory responsibility for 
common rules (the ``17d-2 Agreement''). The 17d-2 Agreement covers 
common members of the Exchange and FINRA and allocates to FINRA 
regulatory responsibility, with respect to common members, for the 
following: (i) Examination of common members of the Exchange and FINRA 
for compliance with federal securities laws, rules and regulations and 
rules of the Exchange that the Exchange has certified as identical or 
substantially similar to FINRA rules; (ii) investigation of common 
members of the Exchange and FINRA for violations of federal securities 
laws, rules or regulations, or Exchange rules that the Exchange has 
certified as identical or substantially identical to a FINRA rule; and 
(iii) enforcement of compliance by common members of the Exchange and 
FINRA with the federal securities laws, rules and regulations, and the 
rules of the Exchange that the Exchange has certified as identical or 
substantially similar to FINRA rules.\7\
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    \6\ 17 CFR 240.17d-2.
    \7\ See Securities and Exchange Release No. 58375 (August 13, 
2008), 75 FR 51295 (August 19, 2008) (approving File No. 10-198).
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    The 17d-2 Agreement included a certification by the Exchange that 
states that the requirements contained in certain Exchange rules are 
identical to, or substantially similar to, certain FINRA rules that 
have been identified as comparable. To conform to comparable FINRA 
rules for purposes of the 17d-2 Agreement, the Exchange proposes to 
amend Rule 4.3, Record of Written Complaints, to align with FINRA Rule 
4513.\8\
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    \8\ See also Securities Exchange Act Release No. 63784 (January 
27, 2011), 76 FR 5850 (February 2, 2011) (Order Approving Proposed 
Rule Change); (File No. SR-FINRA-2010-052).
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    Exchange Rule 4.3 currently requires that members of the Exchange 
(``Members'') keep and preserve written customer complaints \9\ for a 
period of not less than five years, the first two of which must be in a 
readily accessible place. To take into account FINRA's four-year 
routine examination cycle for certain members, FINRA Rule 4513 requires 
that members preserve the customer complaint records for a period of at 
least four years. Under the 17d-2 Agreement, FINRA examines common 
members of the Exchange and FINRA for compliance with Exchange Rule 
4.3. However, because of the differing retention periods between 
Exchange Rule 4.3 and FINRA Rule 4513, the 17d-2 Agreement specifically 
states that FINRA has the regulatory responsibilities for the first 
four years of Exchange Rule 4.3's five year record retention 
requirement.
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    \9\ Exchange Rule 4.3(b) defines a ``complaint'' as ``any 
written statement of a customer or any person acting on behalf of a 
customer alleging a grievance involving the activities of a Member 
or persons under the control of the Member in connection with (1) 
the solicitation or execution of any transaction conducted or 
contemplated to be conducted through the facilities of the Exchange 
or (2) the disposition of securities or funds of that customer which 
activities are related to such a transaction.''
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    The Exchange, therefore, proposes to decrease the record retention 
requirements under Rule 4.3 from five to four years. The Exchange 
believes that amending the record retention requirements for customer 
complaints to align with FINRA Rule 4513 would help to avoid confusion 
among Members that are also members of FINRA, EDGA, or EDGX. The 
Exchange further believes that aligning the Exchange's rules with FINRA 
Rule 4513 would account for FINRA's four-year routine examination cycle 
for certain members, which FINRA conducts on the Exchange's behalf 
under the 17d-2 Agreement ensuring consistent regulation of Members 
that are also members of FINRA.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act \10\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act \11\ in particular, in that it 
is designed to promote just and equitable principles of trade, to 
remove impediments to, and perfect the mechanism of, a free and open 
market and a national market system, and, in general, to protect 
investors and the public interest, by eliminating unnecessary confusion 
with respect to the Exchange's rules. The proposed rule change should 
provide greater harmonization between similar Exchange, EDGA, EDGX and 
FINRA rules, resulting in greater uniformity and less burdensome and 
more efficient regulatory compliance. The proposed rule change should 
foster cooperation and coordination with persons engaged in 
facilitating transactions in securities and should remove impediments 
to and perfect the mechanism of a free and open market and a national 
market system consistent with the requirements of Section 6(b)(5) of 
the Act.\12\
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    \10\ See 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
    \12\ 15 U.S.C. 78f(b)(5).
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(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 because the proposed change 
would apply to all Members equally.

[[Page 19383]]

(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

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A)(ii) of the Act \13\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\14\
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    \13\ See 15 U.S.C. 78s(b)(3)(a)(ii).
    \14\ See 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
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    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 No. SR-BATS-2015-25 on the subject line.

Paper Comments

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

All submissions should refer to File No. SR-BATS-2015-25. 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 Web site (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 Web site 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; the Commission does not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly.
    All submissions should refer to File No. SR-BATS-2015-25 and should 
be submitted on or before May 1, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
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    \15\ See 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-08204 Filed 4-9-15; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices 19381 management investment companies company and acquiring company are application would not raise any of the (‘‘Underlying Funds’’) in reliance on part of the same group of investment concerns that the requirements of section 12(d)(1)(G) of the Act; and (d) companies; (ii) the acquiring company section 12(d)(1) were designed to also is eligible to invest in securities (as holds only securities of acquired address. defined in section 2(a)(36) of the Act) in companies that are part of the same Applicants’ Condition reliance on rule 12d1–2 under the Act group of investment companies, (each a ‘‘Fund of Funds’’), and together Government securities, and short-term Applicants agree that any order with the Underlying Funds, the paper; (iii) the aggregate sales loads and granting the requested relief will be ‘‘Funds’’), also to invest, to the extent distribution-related fees of the acquiring subject to the following condition: consistent with its investment company and the acquired company are Applicants will comply with all objectives, policies, strategies and not excessive under rules adopted provisions of rule 12d1–2 under the Act, limitations, in financial instruments that pursuant to section 22(b) or section except for paragraph (a)(2) to the extent may not be securities within the 22(c) of the Act by a securities that it restricts any Fund of Funds from meaning of section 2(a)(36) of the Act association registered under section 15A investing in Other Investments as (‘‘Other Investments’’).2 Applicants also of the Exchange Act or by the described in the application. request that the order exempt any entity Commission; and (iv) the acquired For the Commission, by the Division of controlling, controlled by or under company has a policy that prohibits it Investment Management, under delegated common control with VESC, that now or from acquiring securities of registered authority. in the future acts as principal open-end investment companies or Brent J. Fields, underwriter with respect to the registered unit investment trusts in Secretary. transactions described in the reliance on section 12(d)(1)(F) or (G) of [FR Doc. 2015–08258 Filed 4–9–15; 8:45 am] application. the Act. BILLING CODE 8011–01–P 4. Consistent with its fiduciary 3. Rule 12d1–2 under the Act permits obligations under the Act, each Fund of a registered open-end investment Funds’ board of trustees will review the company or a registered unit investment SECURITIES AND EXCHANGE advisory fees charged by the Fund of trust that relies on section 12(d)(1)(G) of COMMISSION Funds’ Adviser to ensure that they are the Act to acquire, in addition to based on services provided that are in securities issued by another registered [Release No. 34–74656; File No. SR–BATS– addition to, rather than duplicative of, investment company in the same group 2015–25] services provided pursuant to the of investment companies, Government Self-Regulatory Organizations; BATS advisory agreement of any investment securities, and short-term paper: (i) Exchange, Inc.; Notice of Filing and company in which the Fund of Funds Securities issued by an investment Immediate Effectiveness of a Proposed may invest. company that is not in the same group Rule Change To Amend Rule 4.3, of investment companies, when the Applicants’ Legal Analysis Record of Written Complaints acquisition is in reliance on section 1. Section 12(d)(1)(A) of the Act 12(d)(1)(A) or 12(d)(1)(F) of the Act; (ii) April 6, 2015. provides that no registered investment securities (other than securities issued Pursuant to Section 19(b)(1) of the company (‘‘acquiring company’’) may by an investment company); and (iii) Securities Exchange Act of 1934 (the acquire securities of another investment securities issued by a money market ‘‘Act’’),1 and Rule 19b–4 thereunder,2 company (‘‘acquired company’’) if such fund, when the investment is in reliance notice is hereby given that on March 26, securities represent more than 3% of the on rule 12d1–1 under the Act. For the 2015, BATS Exchange, Inc. (the acquired company’s outstanding voting purposes of rule 12d1–2, ‘‘securities’’ ‘‘Exchange’’ or ‘‘BATS’’) filed with the stock or more than 5% of the acquiring means any security as defined in section Securities and Exchange Commission company’s total assets, or if such 2(a)(36) of the Act. (‘‘Commission’’) the proposed rule securities, together with the securities of 4. Section 6(c) of the Act provides that change as described in Items I and II other investment companies, represent the Commission may exempt any below, which Items have been prepared more than 10% of the acquiring person, security, or transaction from any by the Exchange. The Exchange has company’s total assets. Section provision of the Act, or from any rule designated this proposal as a ‘‘non- 12(d)(1)(B) of the Act provides that no under the Act, if such exemption is controversial’’ proposed rule change registered open-end investment necessary or appropriate in the public pursuant to Section 19(b)(3)(A) of the company may sell its securities to interest and consistent with the Act 3 and Rule 19b–4(f)(6)(iii) another investment company if the sale protection of investors and the purposes thereunder,4 which renders it effective will cause the acquiring company to fairly intended by the policies and upon filing with the Commission. The own more than 3% of the acquired provisions of the Act. Applicants submit Commission is publishing this notice to company’s voting stock, or cause more that their request for relief meets this solicit comments on the proposed rule than 10% of the acquired company’s standard. change from interested persons. voting stock to be owned by investment 5. Applicants request an order under companies and companies controlled by section 6(c) of the Act for an exemption I. Self-Regulatory Organization’s them. from rule 12d1–2(a) to allow the Funds Statement of the Terms of Substance of 2. Section 12(d)(1)(G) of the Act of Funds to invest in Other Investments the Proposed Rule Change provides, in part, that section 12(d)(1) while investing in Underlying Funds. The Exchange proposes to amend will not apply to securities of an mstockstill on DSK4VPTVN1PROD with NOTICES Applicants state that the Funds of Rule 4.3, Record of Written Complaints. acquired company purchased by an Funds will comply with rule 12d1–2 The text of the proposed rule change is acquiring company if: (i) The acquired under the Act, but for the fact that the below. Proposed new language is in Funds of Funds may invest a portion of 2 Every existing entity that currently intends to their assets in Other Investments. 1 15 U.S.C. 78s(b)(1). rely on the requested order is named as an applicant. Any entity that relies on the order in the Applicants assert that permitting the 2 17 CFR 240.19b–4. future will do so only in accordance with the terms Funds of Funds to invest in Other 3 15 U.S.C. 78s(b)(3)(A). and condition in the application. Investments as described in the 4 17 CFR 240.19b–4(f)(6)(iii). VerDate Sep<11>2014 20:09 Apr 09, 2015 Jkt 235001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\10APN1.SGM 10APN1

19382 Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices italics; proposed deletions are in Agreement covers common members of 2 Agreement specifically states that brackets. the Exchange and FINRA and allocates FINRA has the regulatory * * * * * to FINRA regulatory responsibility, with responsibilities for the first four years of respect to common members, for the Exchange Rule 4.3’s five year record Rule 4.3. Record of Written Complaints following: (i) Examination of common retention requirement. (a) Each Member shall keep and members of the Exchange and FINRA The Exchange, therefore, proposes to preserve for a period of not less than for compliance with federal securities decrease the record retention [five]four years a file of all written laws, rules and regulations and rules of requirements under Rule 4.3 from five complaints of customers and action the Exchange that the Exchange has to four years. The Exchange believes taken by the Member in respect thereof, certified as identical or substantially that amending the record retention if any. Further, for the first two years of similar to FINRA rules; (ii) investigation requirements for customer complaints to the [five]four-year period, the Member of common members of the Exchange align with FINRA Rule 4513 would help shall keep such file in a place readily and FINRA for violations of federal to avoid confusion among Members that accessible to examination or spot securities laws, rules or regulations, or are also members of FINRA, EDGA, or checks. Exchange rules that the Exchange has EDGX. The Exchange further believes (b) (No change). certified as identical or substantially that aligning the Exchange’s rules with * * * * * identical to a FINRA rule; and (iii) FINRA Rule 4513 would account for enforcement of compliance by common FINRA’s four-year routine examination II. Self-Regulatory Organization’s members of the Exchange and FINRA Statement of the Purpose of, and cycle for certain members, which with the federal securities laws, rules FINRA conducts on the Exchange’s Statutory Basis for, the Proposed Rule and regulations, and the rules of the Change behalf under the 17d–2 Agreement Exchange that the Exchange has ensuring consistent regulation of In its filing with the Commission, the certified as identical or substantially Members that are also members of Exchange included statements similar to FINRA rules.7 FINRA. concerning the purpose of and basis for The 17d–2 Agreement included a the proposed rule change and discussed certification by the Exchange that states 2. Statutory Basis any comments it received on the that the requirements contained in certain Exchange rules are identical to, The Exchange believes that the proposed rule change. The text of these or substantially similar to, certain proposed rule change is consistent with statements may be examined at the FINRA rules that have been identified as Section 6(b) of the Act 10 in general, and places specified in Item IV below. The comparable. To conform to comparable furthers the objectives of Section 6(b)(5) Exchange has prepared summaries, set FINRA rules for purposes of the 17d–2 of the Act 11 in particular, in that it is forth in sections II.A., II.B., and II.C. Agreement, the Exchange proposes to designed to promote just and equitable below, of the most significant aspects of amend Rule 4.3, Record of Written principles of trade, to remove such statements. Complaints, to align with FINRA Rule impediments to, and perfect the (A) Self-Regulatory Organization’s 4513.8 mechanism of, a free and open market Statement of the Purpose of, and Exchange Rule 4.3 currently requires and a national market system, and, in Statutory Basis for, the Proposed Rule that members of the Exchange general, to protect investors and the Change (‘‘Members’’) keep and preserve written public interest, by eliminating customer complaints 9 for a period of unnecessary confusion with respect to 1. Purpose not less than five years, the first two of the Exchange’s rules. The proposed rule The Exchange filed a proposal to which must be in a readily accessible change should provide greater amend Rule 4.3, Record of Written place. To take into account FINRA’s harmonization between similar Complaints, to conform with the rules of four-year routine examination cycle for Exchange, EDGA, EDGX and FINRA the Financial Industry Regulatory certain members, FINRA Rule 4513 rules, resulting in greater uniformity Authority, Inc. (‘‘FINRA’’) for purposes requires that members preserve the and less burdensome and more efficient of an agreement between the Exchange customer complaint records for a period regulatory compliance. The proposed and FINRA, as well as to conform of at least four years. Under the 17d–2 rule change should foster cooperation Exchange Rule 4.3 with the rules of the Agreement, FINRA examines common and coordination with persons engaged EDGX Exchange, Inc. (‘‘EDGX’’) and the members of the Exchange and FINRA in facilitating transactions in securities EDGA Exchange, Inc. (‘‘EDGA’’).5 for compliance with Exchange Rule 4.3. and should remove impediments to and Pursuant to Rule 17d–2 under the However, because of the differing perfect the mechanism of a free and Act,6 the Exchange and FINRA entered retention periods between Exchange open market and a national market into an agreement to allocate regulatory Rule 4.3 and FINRA Rule 4513, the 17d– system consistent with the requirements responsibility for common rules (the of Section 6(b)(5) of the Act.12 ‘‘17d–2 Agreement’’). The 17d–2 7 See Securities and Exchange Release No. 58375 (August 13, 2008), 75 FR 51295 (August 19, 2008) (B) Self-Regulatory Organization’s 5 See EDGA and EDGX Rules 4.3. See also (approving File No. 10–198). Statement on Burden on Competition Securities Exchange Act Release Nos. 70715 8 See also Securities Exchange Act Release No. (October 15, 2013), 78 FR 64041 (October 18, 2013) 63784 (January 27, 2011), 76 FR 5850 (February 2, The Exchange does not believe that (SR–EDGA–2013–31) (Notice of Filing and 2011) (Order Approving Proposed Rule Change); the proposed rule change will impose Immediate Effectiveness of Proposed Rule Change (File No. SR–FINRA–2010–052). any burden on competition not to Amend EDGA Rule 4.3, Record of Written mstockstill on DSK4VPTVN1PROD with NOTICES 9 Exchange Rule 4.3(b) defines a ‘‘complaint’’ as Complains, to Conform with Financial Industry necessary or appropriate in furtherance ‘‘any written statement of a customer or any person Regulatory Authority, Inc. Rule 4513); and 70714 acting on behalf of a customer alleging a grievance of the purposes of the Act because the (October 15, 2013), 78 FR 64038 (October 18, 2013) involving the activities of a Member or persons proposed change would apply to all (SR–EDGX–2013–39) (Notice of Filing and under the control of the Member in connection with Members equally. Immediate Effectiveness of Proposed Rule Change (1) the solicitation or execution of any transaction to Amend EDGX Rule 4.3, Record of Written conducted or contemplated to be conducted 10 See 15 U.S.C. 78f(b). Complains, to Conform with Financial Industry through the facilities of the Exchange or (2) the Regulatory Authority, Inc. Rule 4513). 11 15 U.S.C. 78f(b)(5). disposition of securities or funds of that customer 6 17 CFR 240.17d–2. which activities are related to such a transaction.’’ 12 15 U.S.C. 78f(b)(5). VerDate Sep<11>2014 20:09 Apr 09, 2015 Jkt 235001 PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\10APN1.SGM 10APN1

Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices 19383 (C) Self-Regulatory Organization’s should be included on the subject line notice is hereby given that on March 23, Statement on Comments on the if email is used. To help the 2015, New York Stock Exchange LLC Proposed Rule Change Received From Commission process and review your (‘‘NYSE’’ or ‘‘Exchange’’) filed with the Members, Participants or Others comments more efficiently, please use Securities and Exchange Commission No written comments were either only one method. The Commission will (‘‘Commission’’) the proposed rule solicited or received. post all comments on the Commission’s change as described in Items I and II Internet Web site (http://www.sec.gov/ below, which Items have been prepared III. Date of Effectiveness of the rules/sro.shtml). by the self-regulatory organization. The Proposed Rule Change and Timing for Copies of the submission, all Commission is publishing this notice to Commission Action subsequent amendments, all written solicit comments on the proposed rule Because the foregoing proposed rule statements with respect to the proposed change from interested persons. change does not: (i) Significantly affect rule change that are filed with the Commission, and all written I. Self-Regulatory Organization’s the protection of investors or the public Statement of the Terms of Substance of interest; (ii) impose any significant communications relating to the proposed rule change between the the Proposed Rule Change burden on competition; and (iii) become Commission and any person, other than The Exchange proposes to amend operative for 30 days from the date on those that may be withheld from the Rule 1000 to reflect that Exchange which it was filed, or such shorter time public in accordance with the systems will reject incoming orders of as the Commission may designate, it has provisions of 5 U.S.C. 552, will be over 1,000,000 shares that are become effective pursuant to Section available for Web site viewing and marketable upon arrival. The text of the 19(b)(3)(A)(ii) of the Act 13 and printing in the Commission’s Public proposed rule change is available on the subparagraph (f)(6) of Rule 19b–4 Exchange’s Web site at www.nyse.com, thereunder.14 Reference Room, 100 F Street NE., Washington, DC 20549, on official at the principal office of the Exchange, At any time within 60 days of the business days between the hours of and at the Commission’s Public filing of the proposed rule change, the 10:00 a.m. and 3:00 p.m. Copies of the Reference Room. Commission summarily may temporarily suspend such rule change if filing also will be available for II. Self-Regulatory Organization’s it appears to the Commission that such inspection and copying at the principal Statement of the Purpose of, and action is: (i) Necessary or appropriate in office of the Exchange. All comments Statutory Basis for, the Proposed Rule the public interest; (ii) for the protection received will be posted without change; Change of investors; or (iii) otherwise in the Commission does not edit personal identifying information from In its filing with the Commission, the furtherance of the purposes of the Act. self-regulatory organization included If the Commission takes such action, the submissions. You should submit only information that you wish to make statements concerning the purpose of, Commission shall institute proceedings and basis for, the proposed rule change to determine whether the proposed rule available publicly. All submissions should refer to File and discussed any comments it received should be approved or disapproved. on the proposed rule change. The text No. SR–BATS–2015–25 and should be IV. Solicitation of Comments submitted on or before May 1, 2015. of those statements may be examined at the places specified in Item IV below. Interested persons are invited to For the Commission, by the Division of The Exchange has prepared summaries, submit written data, views, and Trading and Markets, pursuant to delegated authority.15 set forth in sections A, B, and C below, arguments concerning the foregoing, of the most significant parts of such including whether the proposed rule Brent J. Fields, statements. change is consistent with the Act. Secretary. Comments may be submitted by any of [FR Doc. 2015–08204 Filed 4–9–15; 8:45 am] A. Self-Regulatory Organization’s the following methods: BILLING CODE 8011–01–P Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Electronic Comments Change • Use the Commission’s Internet SECURITIES AND EXCHANGE 1. Purpose comment form (http://www.sec.gov/ COMMISSION rules/sro.shtml); or The Exchange proposes to amend [Release No. 34–74649; File No. SR–NYSE– Rule 1000 (Automatic Executions) to • Send an email to rule-comments@ 2015–14] sec.gov. Please include File No. SR– reflect that Exchange systems will reject BATS–2015–25 on the subject line. incoming orders of over 1,000,000 Self-Regulatory Organizations; New shares that are marketable upon arrival Paper Comments York Stock Exchange LLC; Notice of against interest in Exchange systems. Filing and Immediate Effectiveness of • Send paper comments in triplicate Proposed Rule Change Amending Rule Currently, Exchange systems accept to Brent J. Fields, Secretary, Securities orders up to a maximum order size of 1000 To Reflect That Exchange 25,000,000 shares.4 Rule 1000 provides and Exchange Commission, 100 F Street Systems Will Reject Incoming Orders NE., Washington, DC 20549–1090. that market and limit orders of up to of Over 1,000,000 Shares That Are 1,000,000 shares are eligible to initiate All submissions should refer to File No. Marketable Upon Arrival SR–BATS–2015–25. This file number or participate in automatic executions April 6, 2015. on the Exchange. However, because an mstockstill on DSK4VPTVN1PROD with NOTICES 13 See 15 U.S.C. 78s(b)(3)(a)(ii). Pursuant to Section 19(b)(1) 1 of the order of over 1,000,000 shares in size is 14 See 17 CFR 240.19b–4(f)(6). In addition, Rule Securities Exchange Act of 1934 ineligible for automatic execution, if 19b–4(f)(6) requires a self-regulatory organization to (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 such an order is marketable on arrival, give the Commission written notice of its intent to the Exchange suspends automatic file the proposed rule change at least five business 15 See executions in that security and it is days prior to the date of filing of the proposed rule 17 CFR 200.30–3(a)(12). change, or such shorter time as designated by the 1 15 U.S.C. 78s(b)(1). auto-quoted with a ‘‘slow’’ quote 2 15 U.S.C. 78a. Commission. The Exchange has satisfied this requirement. 3 17 CFR 240.19b–4. 4 See Rule 1000. 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Document Created: 2018-02-21 10:08:09
Document Modified: 2018-02-21 10:08:09
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 19381 
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