80 FR 41133 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the Designated Liquidity Provider Program Under Rule 7018(i)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 134 (July 14, 2015)
Federal Register Volume 80, Issue 134 (July 14, 2015)
| Page Range | 41133-41136 | |
| FR Document | 2015-17167 |
[Federal Register Volume 80, Number 134 (Tuesday, July 14, 2015)] [Notices] [Pages 41133-41136] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-17167] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75389; File No. SR- NASDAQ-2015-071] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the Designated Liquidity Provider Program Under Rule 7018(i) July 8, 2015. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that, on July 1, 2015, The NASDAQ Stock Market LLC (``NASDAQ'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the Designated Liquidity Provider (``DLP'') program under Rule 7018(i). The text of the proposed rule change is available on the Exchange's Web site at http://nasdaq.cchwallstreet.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. [[Page 41134]] 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 A, B, and 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 is proposing to make the following changes to the DLP program under Rule 7018(i): (1) Move the program rules from Rule 7018 to Rule 7014; (2) change the name of the program to the Lead Market Maker program; (3) add clarifying rule text; (4) shorten the notice period required before a market maker may withdraw as a DLP; and (5) provide additional flexibility to NASDAQ on the application of the minimum performance measurements under subparagraph (2) of the rule. The DLP program provides fees and credits for execution of a Qualified Security by one of its DLPs. Rule 7018(i)(1) defines Qualified Security as an exchange-traded fund or index-linked security listed on NASDAQ pursuant to NASDAQ Rules 5705, 5710, or 5720 that has at least one DLP. As defined in Rule 7018(i)(2), a DLP is a registered NASDAQ market maker for a Qualified Security that has committed to maintain specified minimum performance standards. The rule provides that a DLP shall be selected by NASDAQ based on factors including, but not limited to, experience with making markets in exchange-traded funds and index- linked securities, adequacy of capital, willingness to promote NASDAQ as a marketplace, issuer preference, operational capacity, support personnel, and history of adherence to NASDAQ rules and securities laws. Moreover, the rule permits NASDAQ to limit the number of DLPs in a security, or modify a previously established limit, upon prior written notice to members. NASDAQ is proposing to move the rule from Rule 7018, which concerns fees and credits for execution and routing of orders entered on NASDAQ, to Rule 7014, which concerns NASDAQ's market quality incentive programs. NASDAQ adopted the DLP program as a pricing incentive program for market makers in certain exchange traded products. The DLP program is designed to improve market quality in Qualified Securities by providing credits to market makers in return for providing certain levels of market-improving quoting in those securities. As such, the Exchange believes that it is more appropriate to locate the rules relating to the program under Rule 7014, along with other market quality incentive programs. The Exchange is also proposing to amend Rule 7018(i)(2) to provide NASDAQ additional flexibility in the application of the four performance measurements under the rule. Rule 7018(i)(2) sets forth four minimum performance measurements that a market maker must achieve to be considered a DLP, which are applied to market makers at the conclusion of each month to determine if their contribution to market quality in an individual Qualified Security meets or exceeds the minimum performance measurements. The minimum performance measurements may be determined from time to time by NASDAQ and may vary depending on the price, liquidity, and volatility of the Qualified Security in which the DLP is registered. Under the rule, the performance standards must include the percent of time at the national best bid (best offer) (``NBBO''), the percent of executions better than the NBBO, the average displayed size, and the average quoted spread. NASDAQ has flexibility to modify the specific levels of the performance measurements in an individual Qualified Security in response to changes in the market in price, volatility and liquidity, or NASDAQ may set a uniform level for a particular minimum performance measurement applied to all Qualified Securities. The Exchange is proposing to amend Rule 7018(i)(2) so that it is no longer required to consider all four factors in its minimum performance criteria, but rather provide the Exchange flexibility to apply one or more of the factors. NASDAQ notes that such additional flexibility will enable the Exchange to further tailor eligibility for the incentive program based on overall market conditions, applying only the criteria needed to improve market quality. In this regard, NASDAQ notes that the desired improvement in market quality may be achieved in certain instances by applying fewer than all four of the minimum performance measurements. In some cases, applying all four minimum performance measurements may require setting one or more of the measures so low as to allow all market makers to qualify under those measures, thus rendering those measures superfluous. The Exchange is adding new language to make it clear that it will provide written notice of the criteria to market participants. This notice will describe the specific criteria applicable under the program for the upcoming month so market participants can understand how to qualify for credits. The description will include not only the criteria applicable but also the standard under each criteria or combination of criteria. Such clarifying language will help market participants understand how changes to the minimum performance measurements will be communicated, thereby providing further transparency into the operation of the program. NASDAQ will also use the specific criteria described in the notice to measure performance under the program, and to make changes to improve that performance. For example, if after studying performance under a given set of criteria, NASDAQ determines that performance greatly exceeds the criteria, NASDAQ will have a solid basis for increasing the requirements. Alternatively, if this review reveals that a criteria is yielding no improvement to performance, NASDAQ will then have a basis to select an alternative criteria and to so notify market makers of the change. The Exchange is also shortening the amount of prior written notice that a DMM must provide to NASDAQ when it wishes to withdraw its registration in a Qualified Security from 30 days to 5 days. Historically, the Exchange needed at least 30 days to process the de- registration of a DMM in a Qualified Security. Improvements to the Exchange's systems and processes have now made it possible for the Exchange to process such de-registrations with 5 days' notice. Lastly, NASDAQ is changing the name of the program to the ``Lead Market Maker program'' and is, accordingly, changing references to ``Designated Liquidity Providers'' and ``DLPs'' to ``Lead Market Makers'' and ``LMMs,'' respectively. NASDAQ believes that the term Lead Market Maker is more descriptive of who is eligible for the program (i.e., market makers), as opposed to a Designated Liquidity Provider, which could lead a market participant to believe that any market participant is eligible to qualify for the program. NASDAQ notes that the proposed change in terminology does not impact the operation of the program, but rather merely clarifies and [[Page 41135]] harmonizes the terminology used with the terminology used for similar programs of other exchanges. For example, The BATS Exchange, Inc. has a Lead Market Maker program, which provides its market makers with lower fees for removing liquidity and higher credits for providing liquidity if they meet certain performance standards in certain exchange-traded products.\3\ NASDAQ believes that harmonizing the terminology with that of other exchanges will promote clarity in its rules and may help to avoid potential market participant confusion over the differing terminology. --------------------------------------------------------------------------- \3\ BATS Rule 11.8(e). --------------------------------------------------------------------------- 2. Statutory Basis NASDAQ believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,\4\ in general, and with Sections 6(b)(4) and 6(b)(5) of the Act,\5\ in particular, in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility or system which NASDAQ operates or controls, and is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, 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; and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f. \5\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- The Exchange believes that the proposed change in the terminology applied to the program further perfects the mechanism of a free and open market and a national market system, and, in general, to promotes public interest because it harmonizes NASDAQ's program's terminology with the terminology of other markets that offer similar programs to their market participants. NASDAQ believes that the proposed new terminology is more reflective of who is eligible to participate in the program. As such, the Exchange believes that the proposed change will avoid potential market participant confusion over the scope and nature of the program. Similarly, the Exchange believes that moving the rules of the program to the rule section that contains other market improvement programs will avoid potential market participant confusion and helps NASDAQ further refine its rulebook to make it more understandable and accessible to all market participants. The Exchange believes that adding clarifying language concerning notice of changes to the minimum performance measurements is consistent with the Act because it will promote transparency in the operation and requirements of the program. The Exchange believes that reducing the notice requirement is consistent with further perfecting the mechanism of a free and open market and a national market system because it lessens the time that a DLP must remain registered in a Qualified Security once it makes the determination to de-register. The proposed change providing NASDAQ additional flexibility in applying the minimum performance measurements will allow NASDAQ to more closely tailor eligibility for the beneficial fees and credits of the program based on the level of improvement to the market NASDAQ determines is desired. In this regard, in certain instances the desired improvement in market quality may be achieved by applying fewer than all four of the minimum performance measurements, including applying just one, two or three of them. Accordingly, allowing the Exchange to apply less than all four of the minimum performance measurements will not negatively impact the public interest or investor protection. The Exchange notes that the minimum standards that NASDAQ sets for a Qualified Security apply to all market makers registered in the security, and therefore, all such market makers that elect to provide the level of market-improving behavior required by the program will receive the credit. The Exchange also believes that the proposed additional flexibility in applying the minimum performance measurements will not permit unfair discrimination among market makers, as the measurements are set based on the Exchange's determination of what beneficial activity, and the amount thereof, in a Qualified Security is needed to achieve the desired improvement to market quality. The Exchange believes that the proposed change to provide NASDAQ with additional flexibility in applying the four minimum performance measurements is consistent with an equitable allocation of a reasonable fee because NASDAQ will always apply at least one factor, which will require a market maker to improve the market over other market makers in a Qualified Security in order to receive reduced fees and increased credits. In addition, whatever combination of criteria NASDAQ imposes will applied equally to all market markers. It is NASDAQ's belief that the revised program will promote competition among market maker to provide the best markets for investors, even where that competition focuses on just one of the four criteria. NASDAQ believes that as it gains experience with the program, it will be able to apply each criteria and combination of criteria to maximize this competition and benefit to investors. Moreover, credit eligibility is not discretionary under the program. Any market maker that meets the specified criteria will receive the credit. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule changes will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. Specifically, the changes are designed to promote clarity in the application of NASDAQ's rules and to provide NASDAQ flexibility in the application of the qualification requirements of an incentive program, which is designed to improve the market in Qualified Securities on NASDAQ. Such changes do not place a burden on competition between market participants as the changes are applied consistently to all participants. Lastly, the proposed change to provide NASDAQ with greater flexibility in applying the four minimum performance measures may actually promote competition among exchanges to the extent the additional flexibility results in improved market quality on NASDAQ. 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)(iii) of the Act \6\ and [[Page 41136]] subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ 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. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(a)(iii). \7\ 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. --------------------------------------------------------------------------- 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 CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NASDAQ-2015-071 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NASDAQ-2015-071. 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 Number SR-NASDAQ-2015-071 and should be submitted on or before August 4, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-17167 Filed 7-13-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 134 / Tuesday, July 14, 2015 / Notices 41133
(B) Self-Regulatory Organization’s III. Date of Effectiveness of the inspection and copying at the principal
Statement on Burden on Competition Proposed Rule Change and Timing for office of the Exchange. All comments
The Exchange does not believe that Commission Action received will be posted without change;
the proposed rule change will impose The foregoing rule change has become the Commission does not edit personal
any burden on competition not effective pursuant to Section 19(b)(3)(A) identifying information from
necessary or appropriate in furtherance of the Act 19 and paragraph (f) of Rule submissions. You should submit only
of the purposes of the Act. 19b–4 thereunder.20 At any time within information that you wish to make
60 days of the filing of the proposed rule available publicly. All submissions
Physical Connectivity should refer to File Number SR–EDGX–
change, the Commission summarily may
As discussed above, the Exchange temporarily suspend such rule change if 2015–29 and should be submitted on or
believes that fees for connectivity are it appears to the Commission that such before August 4, 2015.
constrained by the robust competition action is necessary or appropriate in the For the Commission, by the Division of
for order flow among exchanges and public interest, for the protection of Trading and Markets, pursuant to delegated
non-exchange markets. Further, investors, or otherwise in furtherance of authority.21
excessive fees for connectivity, the purposes of the Act.
including port fee access, would serve Brent J. Fields,
to impair an exchange’s ability to IV. Solicitation of Comments Secretary.
compete for order flow rather than Interested persons are invited to [FR Doc. 2015–17171 Filed 7–13–15; 8:45 am]
burdening competition. The proposal to submit written data, views, and BILLING CODE 8011–01–P
increase the fees for physical arguments concerning the foregoing,
connectivity would bring the fees including whether the proposed rule
charged by the Exchange closer to change is consistent with the Act. SECURITIES AND EXCHANGE
similar fees charged for physical Comments may be submitted by any of COMMISSION
connectivity by other exchanges.18 In the following methods:
addition, the proposal to pass through
Electronic Comments [Release No. 34–75389; File No. SR-
cross-connect installation related NASDAQ–2015–071]
expenses serves as an alternative to the • Use the Commission’s Internet
flat installation fees charged by the comment form (http://www.sec.gov/
Self-Regulatory Organizations; The
Exchange’s primary competitors. rules/sro.shtml); or
• Send an email to rule-comments@ NASDAQ Stock Market LLC; Notice of
Lastly, the proposed rule change does Filing and Immediate Effectiveness of
not impose any burden on intramarket sec.gov. Please include File Number SR–
EDGX–2015–29 on the subject line. Proposed Rule Change to the
competition as the fees are uniform for
Designated Liquidity Provider Program
all Members and non-Members. The Paper Comments Under Rule 7018(i)
Exchange notes that Members and non-
Members also have the ability to obtain • Send paper comments in triplicate
July 8, 2015.
access to these services without the to Brent J. Fields, Secretary, Securities
need for an independent physical port and Exchange Commission, 100 F Street Pursuant to Section 19(b)(1) of the
connection, such as through alternative NE., Washington, DC 20549–1090. Securities Exchange Act of 1934
means of financial extranets and service All submissions should refer to File (‘‘Act’’) 1 and Rule 19b–4 thereunder,2
bureaus that act as a conduit for orders Number SR–EDGX–2015–29. This file notice is hereby given that, on July 1,
entered by Members and non-Members. number should be included on the 2015, The NASDAQ Stock Market LLC
subject line if email is used. To help the (‘‘NASDAQ’’ or ‘‘Exchange’’) filed with
MidPoint Match Volume Tier Commission process and review your the Securities and Exchange
The Exchange does not believe that its comments more efficiently, please use Commission (‘‘Commission’’) the
proposal to delete the MidPoint Match only one method. The Commission will proposed rule change as described in
Tier will impose any burden on post all comments on the Commission’s Items I, II, and III, below, which Items
competition. As stated above, no Internet Web site (http://www.sec.gov/ have been prepared by the Exchange.
Member currently satisfies the tier’s rules/sro.shtml). Copies of the The Commission is publishing this
criteria and the Exchange is proposing submission, all subsequent notice to solicit comments on the
to remove it to avoid investor confusion amendments, all written statements proposed rule change from interested
as the functionality necessary to achieve with respect to the proposed rule persons.
the tier is to be discontinued before the change that are filed with the
end of July 2015. Therefore, the Commission, and all written I. Self-Regulatory Organization’s
Exchange believes deleting the communications relating to the Statement of the Terms of Substance of
MidPoint Match Tier will have no proposed rule change between the the Proposed Rule Change
impact on competition. Commission and any person, other than
those that may be withheld from the The Exchange proposes to amend the
(C) Self-Regulatory Organization’s public in accordance with the Designated Liquidity Provider (‘‘DLP’’)
Statement on Comments on the provisions of 5 U.S.C. 552, will be program under Rule 7018(i).
Proposed Rule Change Received From available for Web site viewing and The text of the proposed rule change
Members, Participants or Others is available on the Exchange’s Web site
asabaliauskas on DSK5VPTVN1PROD with NOTICES
printing in the Commission’s Public
The Exchange has not solicited, and Reference Room, 100 F Street NE., at http://nasdaq.cchwallstreet.com, at
does not intend to solicit, comments on Washington, DC 20549, on official the principal office of the Exchange, and
this proposed rule change. The business days between the hours of at the Commission’s Public Reference
Exchange has not received any 10:00 a.m. and 3:00 p.m. Copies of the Room.
unsolicited written comments from filing will also be available for
Members or other interested parties. 21 17 CFR 200.30–3(a)(12).
19 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1).
18 See supra note 16. 20 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4.
VerDate Sep<11>2014 19:09 Jul 13, 2015 Jkt 235001 PO 00000 Frm 00143 Fmt 4703 Sfmt 4703 E:\FR\FM\14JYN1.SGM 14JYN1](https://thefederalregister.org/doc/80_FR_41267/page/1.svg)
![41136 Federal Register / Vol. 80, No. 134 / Tuesday, July 14, 2015 / Notices
subparagraph (f)(6) of Rule 19b–4 Washington, DC 20549, on official Jefferson, Latimer, Mayes, Okfuskee,
thereunder.7 At any time within 60 days business days between the hours of Okmulgee, Pushmataha, Stephens,
of the filing of the proposed rule change, 10:00 a.m. and 3:00 p.m. Copies of the Tulsa
the Commission summarily may filing also will be available for Contiguous Counties: (Economic Injury
temporarily suspend such rule change if inspection and copying at the principal Loans Only):
it appears to the Commission that such office of the Exchange. All comments Oklahoma: Creek, Delaware, Osage,
action is: (i) Necessary or appropriate in received will be posted without change; Pawnee
the public interest; (ii) for the protection the Commission does not edit personal Texas: Montague
of investors; or (iii) otherwise in identifying information from All other information in the original
furtherance of the purposes of the Act. submissions. You should submit only declaration remains unchanged.
If the Commission takes such action, the information that you wish to make (Catalog of Federal Domestic Assistance
Commission shall institute proceedings available publicly. All submissions Numbers 59002 and 59008)
to determine whether the proposed rule should refer to File Number SR–
James E. Rivera,
should be approved or disapproved. NASDAQ–2015–071 and should be
submitted on or before August 4, 2015. Associate Administrator for Disaster
IV. Solicitation of Comments Assistance.
For the Commission, by the Division of [FR Doc. 2015–17107 Filed 7–13–15; 8:45 am]
Interested persons are invited to Trading and Markets, pursuant to delegated
submit written data, views and authority.8 BILLING CODE 8025–01–P
arguments concerning the foregoing, Brent J. Fields,
including whether the proposed rule
Secretary. SMALL BUSINESS ADMINISTRATION
change is consistent with the Act.
[FR Doc. 2015–17167 Filed 7–13–15; 8:45 am]
Comments may be submitted by any of [License No. 01/01–0422]
BILLING CODE 8011–01–P
the following methods:
New Canaan Funding Mezzanine V
Electronic Comments
SBIC, L.P.; Notice Seeking Exemption
• Use the Commission’s Internet SMALL BUSINESS ADMINISTRATION Under Section 312 of the Small
comment form (http://www.sec.gov/ [Disaster Declaration #14330 and #14331] Business Investment Act, Conflicts of
rules/sro.shtml); or Interest
• Send an email to rule-comments@ OKLAHOMA Disaster Number OK–
sec.gov. Please include File Number SR– Notice is hereby given that New
00092
NASDAQ–2015–071 on the subject line. Canaan Funding Mezzanine V SBIC,
AGENCY: U.S. Small Business L.P., 21 Locust Avenue, Suite 1C, New
Paper Comments Administration Canaan, CT 06840, a Federal Licensee
• Send paper comments in triplicate ACTION: Amendment 6. under the Small Business Investment
to Secretary, Securities and Exchange Act of 1958, as amended (‘‘the Act’’), in
Commission, 100 F Street NE., SUMMARY: This is an amendment of the connection with the financing of a small
Washington, DC 20549–1090. Presidential declaration of a major concerns, has sought an exemption
All submissions should refer to File disaster for the State of OKLAHOMA under Section 312 of the Act and
Number SR–NASDAQ–2015–071. This (FEMA–4222–DR), dated 05/26/2015. Section 107.730, Financings which
file number should be included on the Incident: Severe Storms, Tornadoes, Constitute Conflicts of Interest of the
subject line if email is used. To help the Straight Line Winds, and Flooding. Small Business Administration (‘‘SBA’’)
Commission process and review your Incident Period: 05/05/2015 through Rules and Regulations (13 CFR 107.730).
comments more efficiently, please use 06/04/2015. New Canaan Funding Mezzanine V
only one method. The Commission will DATES: Effective Date: 07/02/2015. SBIC, L.P. is proposing to provide
post all comments on the Commission’s Physical Loan Application Deadline financing to Safemark, Inc., 2101 Park
Internet Web site (http://www.sec.gov/ Date: 07/27/2015. Center Drive, Suite 125, Orlando, FL
rules/sro.shtml). Copies of the EIDL Loan Application Deadline Date: 32835. The financing will be used, in
submission, all subsequent 02/26/2016. part, for working capital, to pay the
amendments, all written statements ADDRESSES: Submit completed loan seller, to pay off existing debt, and to
with respect to the proposed rule applications to: U.S. Small Business pay fees and expenses.
change that are filed with the Administration, Processing and The proposed transaction is brought
Commission, and all written Disbursement Center, 14925 Kingsport within the purview of § 107.730 of the
communications relating to the Road, Fort Worth, TX 76155. Regulations because Safemark, Inc. will
proposed rule change between the be using financing proceeds from New
FOR FURTHER INFORMATION CONTACT: A.
Commission and any person, other than Canaan Funding Mezzanine V SBIC,
Escobar, Office of Disaster Assistance, L.P. in part to discharge obligations to
those that may be withheld from the U.S. Small Business Administration,
public in accordance with the Corporate Mezzanine IV, L.P. and
409 3rd Street SW., Suite 6050, Trafalgar Business Solutions Ltd., which
provisions of 5 U.S.C. 552, will be Washington, DC 20416
available for Web site viewing and are Associates of New Canaan Funding
SUPPLEMENTARY INFORMATION: The notice Mezzanine V SBIC, L.P. as defined at
printing in the Commission’s Public of the Presidential disaster declaration § 107.50 due to common management.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Reference Room, 100 F Street NE., for the State of OKLAHOMA, dated Therefore, the proposed transaction is
7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b-
05/26/2015 is hereby amended to considered self-deal pursuant to 13 CFR
4(f)(6) requires a self-regulatory organization to give include the following areas as adversely 107.730 and requires a regulatory
the Commission written notice of its intent to file affected by the disaster: exemption. Notice is hereby given that
the proposed rule change at least five business days Primary Counties: (Physical Damage and any interested person may submit
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Economic Injury Loans): Carter, written comments on the transaction
Commission. The Exchange has satisfied this within fifteen days of the date of this
requirement. 8 17 CFR 200.30–3(a)(12). publication to Associate Administrator
VerDate Sep<11>2014 19:09 Jul 13, 2015 Jkt 235001 PO 00000 Frm 00146 Fmt 4703 Sfmt 4703 E:\FR\FM\14JYN1.SGM 14JYN1](https://thefederalregister.org/doc/80_FR_41267/page/4.svg)
Document Created: 2018-02-23 09:19:43
Document Modified: 2018-02-23 09:19:43
| 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 41133 |
2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR