80 FR 22591 - Self-Regulatory Organizations; The Options Clearing Corporation; Order Approving Proposed Rule Change Concerning the Execution of an Agreement for Clearing and Settlement Services Between OCC and NASDAQ Futures, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 77 (April 22, 2015)
Federal Register Volume 80, Issue 77 (April 22, 2015)
| Page Range | 22591-22593 | |
| FR Document | 2015-09266 |
[Federal Register Volume 80, Number 77 (Wednesday, April 22, 2015)] [Notices] [Pages 22591-22593] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-09266] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74747; File No. SR-OCC-2015-03] Self-Regulatory Organizations; The Options Clearing Corporation; Order Approving Proposed Rule Change Concerning the Execution of an Agreement for Clearing and Settlement Services Between OCC and NASDAQ Futures, Inc. April 16, 2015. On February 20, 2015, The Options Clearing Corporation (``OCC'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change OCC-2015-03 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder.\2\ The proposed rule change was published for comment in the Federal Register on March 10, 2015.\3\ The Commission received no comments on the proposed rule change. This order approves the proposed rule change. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ Securities Exchange Act Release No. 74432 (March 4, 2015), 80 FR 12652 (March 10, 2015) (SR-OCC-2015-03). --------------------------------------------------------------------------- [[Page 22592]] I. Description OCC proposes to execute an Agreement for Clearing and Settlement Services (``Clearing Agreement'') between OCC and NASDAQ Futures, Inc. (``NFX'') in connection with NFX's operation as a designated contract market (``DCM'') \4\ regulated by the Commodity Futures Trading Commission (``CFTC''). OCC will provide clearance and settlement services to NFX pursuant to the terms set forth in the Clearing Agreement. The rule change, as proposed, permits OCC to begin providing clearing and settlement services for NFX in the second quarter of 2015. --------------------------------------------------------------------------- \4\ See http://www.cftc.gov/ucm/groups/public/@otherif/documents/ifdocs/nasdaqorderofreinstatement.pdf. --------------------------------------------------------------------------- NFX previously operated as a DCM and cleared its futures contracts through OCC. As such, OCC and NFX had previously entered into a Second Amended and Restated Agreement for Clearing and Settlement Services (``Previous Agreement'') dated January 13, 2012.\5\ As of January 31, 2014, NFX ceased operations as a contract market and became a dormant contract market under CFTC Regulations.\6\ As a result, the Previous Agreement was terminated pursuant to its terms \7\ and the clearing relationship between OCC and NFX terminated. --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 66340 (February 7, 2012), 77 FR 7621 (February 13, 2012) (SR-OCC-2012-02). \6\ See 17 CFR 40.1. \7\ More specifically, the Previous Agreement, in relevant part, stated that it would terminate if NFX terminates trading of all Cleared Contracts. See Section 19(b) of the Previous Agreement. See also note 5 supra. --------------------------------------------------------------------------- On November 21, 2014, NFX was approved by the CFTC as a DCM.\8\ In connection with that approval, OCC proposes to provide the clearance and settlement services as described in the Clearing Agreement, which is substantially similar to the Previous Agreement with several differences discussed in more detail below. The Clearing Agreement has been amended to allow OCC more flexibility in determining which products it will clear based upon its conclusion that it is able to appropriately risk manage such products using commercially reasonable standards.\9\ More specifically, the following changes have been made: --------------------------------------------------------------------------- \8\ See note 4 supra. \9\ See Sections 3(a) and 9 of the Clearing Agreement in which language has been added allowing such flexibility. ---------------------------------------------------------------------------Section 3(a) of the Clearing Agreement, ``General Criteria for Underlying Interests,'' has been amended to permit NFX to select the underlying interests that are the subject of currency futures, commodity futures, and/or futures options to be traded on NFX only if OCC is satisfied that it is able to appropriately risk manage the contract with the proposed underlying interest using commercially reasonable efforts. Section 9 of the Clearing Agreement, ``Limitations of Authority and Responsibility,'' has been amended to specify that OCC shall have no responsibility to enforce standards relating to the conduct of trading on NFX unless OCC finds it reasonably necessary in order to appropriately risk manage the products that are being traded on NFX. In addition, the Clearing Agreement will also make several changes to the Previous Agreement, which include: Section 3(c), ``Procedures for Selection of Underlying Interests,'' has been amended to state that NFX must submit a certificate for a new class of contracts not already listed or traded on NFX as soon as practicable (rather than ten days prior to the commencement of trading). It has also been amended to state that OCC will be obligated to use commercially reasonable efforts to authorize the clearance and settlement of such contracts as soon as practicable. In addition, the Clearing Agreement expressly obligates NFX to provide OCC with any additional information as requested by OCC from time to time that will assist OCC in identifying a new product proposed for clearing by NFX. OCC believes that these amendments to Section 3(c), related to the procedures for the selection of underlying interests, will ensure that OCC not only has the correct information needed to evaluate a proposed new product but that the information will be produced to OCC in a timely manner which will provide OCC sufficient time to evaluate the proposed new product. Section 3(d), ``Notice of Additional Maturity or Expiration Dates,'' has been amended to state that, for a class of products previously certified, NFX may introduce a new maturity or expiration date that is in the cycle set forth in the certificate by providing notice to OCC through electronic means specified by OCC. The Previous Agreement required such notice to be sent to OCC only by email or facsimile. A universal conforming change has been made to various sections in the Clearing Agreement to replace the term ``matched'' trades with ``confirmed'' trades to better describe trades that are processed for clearance and settlement.\10\ --------------------------------------------------------------------------- \10\ See Article I, Section 1(C)(28) of OCC's By-Laws. See also Sections 3(g), 6(a), 7, 19, and Schedule A, Section 1 of the Clearing Agreement. --------------------------------------------------------------------------- Section 5(a), ``Confirmed Trade Reports,'' has been amended to remove language discussing the possibility that NFX will provide OCC with a confirmed trade report on a real time basis as this capability is already captured in the language ``as the Corporation may reasonably prescribe.'' Section 5(c)(i) has been amended to include language that will allow OCC to determine the final settlement price for a futures contract in which the underlying interest is a cash-settled foreign currency if the organized market in which that foreign currency future is traded on, or the foreign currency itself, did not open or remain open for trading at or before the time in which the settlement price for such futures contract would ordinarily be determined. In addition, Section 5(c)(i) has been amended to include a reference to ``variance'' when listing factors that will allow OCC to determine a final reasonable settlement price, if not reported at the ordinary time of final settlement. OCC believes that these additions to the Clearing Agreement clarify the potential underlying interests in which NFX may introduce futures contracts and make the Clearing Agreement more precise. Section 7, ``Acceptance and Rejection of Transactions in Cleared Contracts,'' has been amended to include a provision that will allow OCC, in accordance with its By-Laws, to reject transactions due to validation errors which will allow OCC to better manage its clearance and settlement obligations by expressly allowing it to reject transactions that do not contain complete terms. These validation errors include, for example, an incorrect Clearing Member, account, product or format. Section 8, ``Non-Discrimination,'' has been amended to delete a provision restricting OCC from changing its By-Laws or Rules in any manner that may limit its obligations to clear and settle for NFX. In addition, a provision has been deleted requiring OCC to amend the Clearing Agreement in the event that OCC has made changes to its standard form agreement for clearing and settlement services. Section 8 has also been amended to delete a provision stating OCC is required to consult with NFX and modify OCC's By-Laws or Rules to incorporate product design features specified by NFX for new products. OCC believes that these [[Page 22593]] provisions are no longer necessary as they limit OCC's ability to modify its By-Laws, Rules and agreements which may be necessary for OCC to fulfill its obligations as a clearing organization. OCC will, however, continue to be obligated to fulfill both the provisions of the Clearing Agreement and OCC's regulatory responsibilities. Section 8 has additionally been amended to delete an obligation for each party to provide the other with proposed rule changes. The elimination of this contractual obligation reflects the parties' determination that their respective obligations to post filed regulatory submissions on their public Web sites provides sufficient notice of such changes. Section 11, ``Financial Requirements for Clearing Members,'' has been amended to delete a provision stating the specific financial responsibility standards OCC has with respect to its Clearing Members. This change was made to further streamline the Clearing Agreement given OCC's general obligation to remain consistent with OCC By-Laws and Rules. Section 14, ``Programs and Projects,'' has been amended to eliminate a provision expressly requiring OCC to offer futures contract clearing terms to NFX that are no less favorable to the terms offered to other exchanges. Sections 15 and 24 in the Previous Agreement, ``Information Sharing'' and ``Quality Standards'' respectively, have been deleted in their entirety in an attempt to simplify the Clearing Agreement as the sections create unnecessary obligations on the parties and are duplicative of general regulatory responsibilities of both parties. Section 18(b), ``Other Grounds for Termination,'' has been amended to include a provision that OCC may terminate the Clearing Agreement at any time so long as NFX is given 120 days prior written notice. The addition of this provision better balances the rights of both parties to terminate the Clearing Agreement at their discretion provided that proper notice is given as required by the Clearing Agreement. Various administrative changes have been made throughout the document including, but not limited to, an amended legal name and description of NFX, updated references to sections within the document, and clean-up changes of duplicative terms. Finally, pursuant to the rule change, as approved, Schedule A of the Clearing Agreement, ``Description of Clearing and Settlement Services'' and Schedule B of the Clearing Agreement, ``Information Sharing,'' are being amended as follows: Section (1) of Schedule A of the Clearing Agreement, ``Trade Acceptance,'' has been updated to reflect current OCC operational requirements with respect to submission of confirmed trades. Section (4) of Schedule A, ``Information for Clearing Members,'' has been amended to delete specific information sharing obligations of OCC to its Clearing Members and to state that the information provided to Clearing Members will be in accordance with OCC's By-Laws and Rules. Section (I)(A) of Schedule B has been amended to delete specific references to information that OCC will provide to Clearing Members on a daily basis and instead adds a provision that OCC will provide NFX with its ``Data Distribution Service'' information for regulatory and financial purposes. Section (I)(B) of Schedule B has been amended to delete certain information sharing provisions and to state that the information sharing obligations OCC continues to have may be satisfied by posting the required information on OCC's public Web site which streamlines the information sharing process. II. Discussion and Commission Findings Section 19(b)(2)(C) of the Act \11\ directs the Commission to approve a proposed rule change of a self-regulatory organization if it finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to such organization. The Commission finds that the proposed rule change is consistent with Section 17A(b)(3)(F) of the Act,\12\ which requires, among other things, that the rules of a clearing agency be designed to promote the prompt and accurate clearance and settlement of securities transactions and, to the extent applicable, derivative agreements, contracts, and transactions, to assure the safeguarding of securities and funds which are in its custody or control or for which it is responsible, and, in general, to protect investors and the public interest. As approved, the Clearing Agreement will allow derivative contract trades executed on NFX to be cleared and settled at OCC, thereby ensuring that these trades will be subject to the comprehensive operational and risk management framework at OCC. In so doing, the Clearing Agreement, should reduce the costs and risks associated with clearing and settling NFX trades, which should in turn promote the prompt and accurate clearance and settlement of the NFX derivative contract transactions, better assure the safeguarding of related securities and funds in the custody and control of OCC, and better protect investors and the public interest. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(2)(C). \12\ 15 U.S.C. 78q-1(b)(3)(F). --------------------------------------------------------------------------- III. Conclusion On the basis of the foregoing, the Commission finds that the proposal is consistent with the requirements of the Act and in particular with the requirements of Section 17A of the Act \13\ and the rules and regulations thereunder. --------------------------------------------------------------------------- \13\ In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Act,\14\ that the proposed rule change (SR-OCC-2015-03) be, and it hereby is, approved. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-09266 Filed 4-21-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 77 / Wednesday, April 22, 2015 / Notices 22591
vendors’ pricing discipline is the same: C. Self-Regulatory Organization’s those that may be withheld from the
They can simply refuse to purchase any Statement on Comments on the public in accordance with the
proprietary data product that fails to Proposed Rule Change Received From provisions of 5 U.S.C. 552, will be
provide sufficient value. NASDAQ and Members, Participants, or Others available for Web site viewing and
other producers of proprietary data Written comments were neither printing in the Commission’s Public
products must understand and respond solicited nor received. Reference Room, 100 F Street NE.,
to these varying business models and Washington, DC 20549, on official
pricing disciplines in order to market III. Date of Effectiveness of the business days between the hours of
proprietary data products successfully. Proposed Rule Change and Timing for 10:00 a.m. and 3:00 p.m. Copies of such
Commission Action filing will also be available for
In addition to the competition and
price discipline described above, the The foregoing rule change has become inspection and copying at the principal
market for proprietary data products is effective pursuant to Section office of the Exchange. All comments
also highly contestable because market 19(b)(3)(A)(ii) of the Act.6 At any time received will be posted without change;
entry is rapid, inexpensive, and within 60 days of the filing of the the Commission does not edit personal
profitable. The history of electronic proposed rule change, the Commission identifying information from
trading is replete with examples of summarily may temporarily suspend submissions. You should submit only
entrants that swiftly grew into some of such rule change if it appears to the information that you wish to make
the largest electronic trading platforms Commission that such action is available publicly.
and proprietary data producers: necessary or appropriate in the public
All submissions should refer to File
Archipelago, Bloomberg Tradebook, interest, for the protection of investors,
Number SR–NASDAQ–2015–035 and
Island, RediBook, Attain, TracECN and or otherwise in furtherance of the
purposes of the Act. If the Commission should be submitted on or before May
BATS Trading. A proliferation of dark 13, 2015.
pools and other ATSs operate profitably takes such action, the Commission shall
with fragmentary shares of consolidated institute proceedings to determine For the Commission, by the Division of
market volume. whether the proposed rule should be Trading and Markets, pursuant to delegated
approved or disapproved. authority.7
Regulation NMS, by deregulating the Brent J. Fields,
market for proprietary data, has IV. Solicitation of Comments
increased the contestability of that Secretary.
Interested persons are invited to
market. While broker-dealers have [FR Doc. 2015–09264 Filed 4–21–15; 8:45 am]
submit written data, views, and
previously published their proprietary arguments concerning the foregoing, BILLING CODE 8011–01–P
data individually, Regulation NMS including whether the proposed rule
encourages market data vendors and change, as amended, is consistent with
broker-dealers to produce proprietary the Act. Comments may be submitted by SECURITIES AND EXCHANGE
products cooperatively in a manner any of the following methods: COMMISSION
never before possible. Multiple market
Electronic Comments
data vendors already have the capability [Release No. 34–74747; File No. SR–OCC–
to aggregate data and disseminate it on • Use the Commission’s Internet 2015–03]
a profitable scale, including Bloomberg, comment form (http://www.sec.gov/
and Thomson Reuters. rules/sro.shtml); or Self-Regulatory Organizations; The
• Send an email to rule-comments@ Options Clearing Corporation; Order
The vigor of competition for sec.gov. Please include File Number SR–
information is significant. NASDAQ has Approving Proposed Rule Change
NASDAQ–2015–035 on the subject line. Concerning the Execution of an
made a determination to adjust the fees
associated with these products in order Paper Comments Agreement for Clearing and Settlement
Services Between OCC and NASDAQ
to reflect more accurately the value of • Send paper comments in triplicate Futures, Inc.
its products and the investments made to Brent J. Fields, Secretary, Securities
to enhance them, as well as to keep pace and Exchange Commission, 100 F Street April 16, 2015.
with changes in the industry and NE., Washington, DC 20549–1090.
evolving customer needs. These On February 20, 2015, The Options
All submissions should refer to File Clearing Corporation (‘‘OCC’’) filed with
products are entirely optional and are Number SR–NASDAQ–2015–035. This
geared towards attracting new the Securities and Exchange
file number should be included on the
customers, as well as retaining existing Commission (‘‘Commission’’) the
subject line if email is used. To help the
customers. proposed rule change OCC–2015–03
Commission process and review your
pursuant to Section 19(b)(1) of the
In all cases, firms make decisions on comments more efficiently, please use
Securities Exchange Act of 1934
how much and what types of data to only one method. The Commission will
consume on the basis of the total cost of (‘‘Act’’) 1 and Rule 19b–4 thereunder.2
post all comments on the Commission’s
interacting with NASDAQ or other The proposed rule change was
Internet Web site (http://www.sec.gov/
exchanges. Of course, the explicit data published for comment in the Federal
rules/sro.shtml). Copies of the
fees are but one factor in a total platform Register on March 10, 2015.3 The
submission, all subsequent
analysis. Some competitors have lower Commission received no comments on
amendments, all written statements
asabaliauskas on DSK5VPTVN1PROD with NOTICES
transactions fees and higher data fees, with respect to the proposed rule the proposed rule change. This order
and others are vice versa. For example, change that are filed with the approves the proposed rule change.
NOM offers one distributor fee which Commission, and all written
7 17 CFR 200.30–3(a)(12).
allows firms to access both the BONO communications relating to the 1 15 U.S.C. 78s(b)(1).
and ITTO data feeds. The market for this proposed rule change between the 2 17 CFR 240.19b–4.
information is highly competitive and Commission and any person, other than 3 Securities Exchange Act Release No. 74432
continually evolves as products develop (March 4, 2015), 80 FR 12652 (March 10, 2015) (SR–
and change. 6 15 U.S.C. 78s(b)(3)(A)(ii). OCC–2015–03).
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![Federal Register / Vol. 80, No. 77 / Wednesday, April 22, 2015 / Notices 22593
provisions are no longer necessary as ‘‘Information Sharing,’’ are being Clearing Agreement, should reduce the
they limit OCC’s ability to modify its amended as follows: costs and risks associated with clearing
By-Laws, Rules and agreements which • Section (1) of Schedule A of the and settling NFX trades, which should
may be necessary for OCC to fulfill its Clearing Agreement, ‘‘Trade in turn promote the prompt and
obligations as a clearing organization. Acceptance,’’ has been updated to accurate clearance and settlement of the
OCC will, however, continue to be reflect current OCC operational NFX derivative contract transactions,
obligated to fulfill both the provisions of requirements with respect to submission better assure the safeguarding of related
the Clearing Agreement and OCC’s of confirmed trades. securities and funds in the custody and
regulatory responsibilities. Section 8 has • Section (4) of Schedule A, control of OCC, and better protect
additionally been amended to delete an ‘‘Information for Clearing Members,’’ investors and the public interest.
obligation for each party to provide the has been amended to delete specific
information sharing obligations of OCC III. Conclusion
other with proposed rule changes. The
elimination of this contractual to its Clearing Members and to state that On the basis of the foregoing, the
obligation reflects the parties’ the information provided to Clearing Commission finds that the proposal is
determination that their respective Members will be in accordance with consistent with the requirements of the
obligations to post filed regulatory OCC’s By-Laws and Rules. Act and in particular with the
submissions on their public Web sites • Section (I)(A) of Schedule B has requirements of Section 17A of the
provides sufficient notice of such been amended to delete specific Act 13 and the rules and regulations
changes. references to information that OCC will thereunder.
provide to Clearing Members on a daily IT IS THEREFORE ORDERED,
• Section 11, ‘‘Financial
basis and instead adds a provision that pursuant to Section 19(b)(2) of the
Requirements for Clearing Members,’’
OCC will provide NFX with its ‘‘Data Act,14 that the proposed rule change
has been amended to delete a provision
Distribution Service’’ information for (SR–OCC–2015–03) be, and it hereby is,
stating the specific financial
regulatory and financial purposes. approved.
responsibility standards OCC has with
• Section (I)(B) of Schedule B has For the Commission, by the Division of
respect to its Clearing Members. This
been amended to delete certain Trading and Markets, pursuant to delegated
change was made to further streamline
information sharing provisions and to authority.15
the Clearing Agreement given OCC’s
state that the information sharing Brent J. Fields,
general obligation to remain consistent
obligations OCC continues to have may Secretary.
with OCC By-Laws and Rules.
be satisfied by posting the required
• Section 14, ‘‘Programs and [FR Doc. 2015–09266 Filed 4–21–15; 8:45 am]
information on OCC’s public Web site
Projects,’’ has been amended to BILLING CODE 8011–01–P
which streamlines the information
eliminate a provision expressly
sharing process.
requiring OCC to offer futures contract
clearing terms to NFX that are no less II. Discussion and Commission SECURITIES AND EXCHANGE
favorable to the terms offered to other Findings COMMISSION
exchanges. Section 19(b)(2)(C) of the Act 11 [Release No. 34–74741; File No. SR–ICEEU–
• Sections 15 and 24 in the Previous directs the Commission to approve a 2015–005]
Agreement, ‘‘Information Sharing’’ and proposed rule change of a self-
‘‘Quality Standards’’ respectively, have Self-Regulatory Organizations; ICE
regulatory organization if it finds that
been deleted in their entirety in an Clear Europe Limited; Notice of
the proposed rule change is consistent Designation of Longer Period for
attempt to simplify the Clearing with the requirements of the Act and the
Agreement as the sections create Commission Action on Proposed Rule
rules and regulations thereunder Change Relating to CDS Procedures
unnecessary obligations on the parties applicable to such organization. The
and are duplicative of general regulatory for CDX North America Index CDS
Commission finds that the proposed Contracts
responsibilities of both parties. rule change is consistent with Section
• Section 18(b), ‘‘Other Grounds for 17A(b)(3)(F) of the Act,12 which April 16, 2015.
Termination,’’ has been amended to requires, among other things, that the On February 12, 2015, ICE Clear
include a provision that OCC may rules of a clearing agency be designed to Europe Limited (‘‘ICEEU’’) filed with
terminate the Clearing Agreement at any promote the prompt and accurate the Securities and Exchange
time so long as NFX is given 120 days clearance and settlement of securities Commission (‘‘Commission’’), pursuant
prior written notice. The addition of this transactions and, to the extent to Section 19(b)(1) of the Securities
provision better balances the rights of applicable, derivative agreements, Exchange Act of 1934 (‘‘Act’’) 1 and Rule
both parties to terminate the Clearing contracts, and transactions, to assure the 19b–4 thereunder,2 a proposed rule
Agreement at their discretion provided safeguarding of securities and funds change to revise ICEEU’s CDS
that proper notice is given as required which are in its custody or control or for Procedures, CDS Risk Model
by the Clearing Agreement. which it is responsible, and, in general, Description and CDS End-of-Day Price
• Various administrative changes to protect investors and the public Discovery Policy to provide the basis for
have been made throughout the interest. As approved, the Clearing ICEEU to clear CDX North America
document including, but not limited to, Agreement will allow derivative Index CDS Contracts (‘‘CDX.NA
an amended legal name and description Contracts’’). The proposed rule change
asabaliauskas on DSK5VPTVN1PROD with NOTICES
contract trades executed on NFX to be
of NFX, updated references to sections cleared and settled at OCC, thereby
within the document, and clean-up ensuring that these trades will be 13 In approving this proposed rule change, the
changes of duplicative terms. Commission has considered the proposed rule’s
subject to the comprehensive impact on efficiency, competition, and capital
Finally, pursuant to the rule change, operational and risk management formation. See 15 U.S.C. 78c(f).
as approved, Schedule A of the Clearing framework at OCC. In so doing, the 14 15 U.S.C. 78s(b)(2).
Agreement, ‘‘Description of Clearing 15 17 CFR 200.30–3(a)(12).
and Settlement Services’’ and Schedule 11 15 U.S.C. 78s(b)(2)(C). 1 15 U.S.C. 78s(b)(1).
B of the Clearing Agreement, 12 15 U.S.C. 78q–1(b)(3)(F). 2 17 CFR 240.19b–4.
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Document Created: 2015-12-16 08:28:11
Document Modified: 2015-12-16 08:28:11
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 22591 |
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