80 FR 46080 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 148 (August 3, 2015)

Page Range		46080-46081
FR Document		2015-19077

Federal Register, Volume 80 Issue 148 (Monday, August 3, 2015)

[Federal Register Volume 80, Number 148 (Monday, August 3, 2015)]
[Notices]
[Pages 46080-46081]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-19077]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold an Open Meeting

[[Page 46081]]

on Wednesday, August 5, 2015 at 10:00 a.m., in the Auditorium, Room L-
002.
    The subject matter of the Open Meeting will be:
     The Commission will consider whether to adopt rules and 
forms under the Securities Exchange Act of 1934 (``Exchange Act'') 
providing for the registration of security-based swap dealers and major 
security-based swap participants.
     The Commission will consider whether to propose a rule of 
practice to provide a process for a registered security-based swap 
dealer or major security-based swap participant to make an application 
to the Commission for an order permitting an associated person who is 
subject to a statutory disqualification to effect or be involved in 
effecting security-based swaps on behalf of the security-based swap 
dealer or major security-based swap participant.
     The Commission will consider whether to adopt a rule 
requiring public companies to disclose the ratio of the annual total 
compensation of the chief executive officer to the median of the annual 
total compensation of the company's employees as required by section 
953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection 
Act.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted, or postponed, please contact: The Office of the 
Secretary at (202) 551-5400.

    Dated: July 29, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-19077 Filed 7-30-15; 4:15 pm]
BILLING CODE 8011-01-P

46080 Federal Register / Vol. 80, No. 148 / Monday, August 3, 2015 / Notices

Exchange to extend the effectiveness of competition; and (iii) become operative • Send an email to rule-comments@
the UTP Pilot Program in tandem with prior to 30 days from the date on which sec.gov. Please include File Number SR–
the NMM Pilot, which the Exchange has it was filed, or such shorter time as the NYSEMKT–2015–54 on the subject line.
similarly proposed to extend until the Commission may designate, if
Paper Comments
earlier of Commission approval to make consistent with the protection of
such pilot permanent or October 31, investors and the public interest, the • Send paper comments in triplicate
2015.18 proposed rule change has become to Secretary, Securities and Exchange
Finally, the Exchange believes that it effective pursuant to Section 19(b)(3)(A) Commission, 100 F Street NE.,
is subject to significant competitive of the Act and Rule 19b–4(f)(6)(iii) Washington, DC 20549–1090.
forces, as described below in the thereunder. All submissions should refer to File
Exchange’s statement regarding the A proposed rule change filed under Number SR–NYSEMKT–2015–54. This
burden on competition. For these Rule 19b–4(f)(6) 22 normally does not file number should be included on the
reasons, the Exchange believes that the become operative prior to 30 days after subject line if email is used. To help the
proposal is consistent with the Act. the date of the filing. However, pursuant Commission process and review your
to Rule 19b4(f)(6)(iii),23 the Commission comments more efficiently, please use
B. Self-Regulatory Organization’s may designate a shorter time if such only one method. The Commission will
Statement on Burden on Competition action is consistent with the protection post all comments on the Commission’s
In accordance with Section 6(b)(8) of of investors and the public interest. The Internet Web site (http://www.sec.gov/
the Act,19 the Exchange believes that the Exchange has asked the Commission to rules/sro.shtml). Copies of the
proposed rule change would not impose waive the 30-day operative delay so that submission, all subsequent
any burden on competition that is not the proposal may become operative amendments, all written statements
necessary or appropriate in furtherance immediately upon filing. The Exchange with respect to the proposed rule
of the purposes of the Act. The notes that waiving the 30-day operative change that are filed with the
Exchange believes that extending the delay is consistent with the protection Commission, and all written
UTP Pilot Program will promote of investors and the public interest. The communications relating to the
competition in the trading of UTP Exchange believes that waiver will proposed rule change between the
Securities and thereby provide market ensure that member organizations and Commission and any person, other than
participants with opportunities for the public can continue to benefit from those that may be withheld from the
improved price discovery, increased the pilot program without interruption public in accordance with the
liquidity, more competitive quotes, and after July 31, 2015. The Commission provisions of 5 U.S.C. 552, will be
greater price improvement. hereby waives the 30-day operative available for Web site viewing and
Finally, the Exchange notes that it delay and designates the proposal printing in the Commission’s Public
operates in a highly competitive market operative upon filing.24 Reference Room, 100 F Street NE.,
in which market participants can At any time within 60 days of the Washington, DC 20549, on official
readily favor competing venues. In such filing of such proposed rule change, the business days between the hours of
an environment, the Exchange must Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the
continually review, and consider temporarily suspend such rule change if filing also will be available for
adjusting the services it offers and the it appears to the Commission that such inspection and copying at the principal
requirements it imposes to remain action is necessary or appropriate in the office of the Exchange. All comments
competitive with other U.S. equity public interest, for the protection of received will be posted without change;
exchanges. For the reasons described investors, or otherwise in furtherance of the Commission does not edit personal
above, the Exchange believes that the the purposes of the Act. If the identifying information from
proposed rule change reflects this Commission takes such action, the submissions. You should submit only
competitive environment. Commission shall institute proceedings information that you wish to make
under Section 19(b)(2)(B) 25 of the Act to available publicly. All submissions
C. Self-Regulatory Organization’s determine whether the proposed rule should refer to File Number SR–
Statement on Comments on the change should be approved or NYSEMKT–2015–54, and should be
Proposed Rule Change Received From disapproved. submitted on or before August 24, 2015.
Members, Participants, or Others
IV. Solicitation of Comments For the Commission, by the Division of
No written comments were solicited Trading and Markets, pursuant to delegated
or received with respect to the proposed Interested persons are invited to
authority.26
rule change. submit written data, views, and
Robert W. Errett,
arguments concerning the foregoing,
III. Date of Effectiveness of the including whether the proposed rule Deputy Secretary.
Proposed Rule Change and Timing for change is consistent with the Act. [FR Doc. 2015–18881 Filed 7–31–15; 8:45 am]
Commission Action Comments may be submitted by any of BILLING CODE 8011–01–P

The Exchange has filed the proposed the following methods:
rule change pursuant to Section Electronic Comments SECURITIES AND EXCHANGE
19(b)(3)(A)(iii) of the Act 20 and Rule
19b–4(f)(6) thereunder.21 Because the • Use the Commission’s Internet COMMISSION
proposed rule change does not: (i) comment form (http://www.sec.gov/
Sunshine Act Meeting
mstockstill on DSK4VPTVN1PROD with NOTICES

Significantly affect the protection of rules/sro.shtml); or
investors or the public interest; (ii) Notice is hereby given, pursuant to
22 17
CFR 240.19b–4(f)(6).
impose any significant burden on the provisions of the Government in the
23 17 CFR 240.19b–4(f)(6)(iii).
Sunshine Act, Public Law 94–409, that
24 For purposes only of waiving the 30-day
18 See supra note13. operative delay, the Commission has considered the
the Securities and Exchange
19 15 U.S.C. 78f(b)(8). proposed rule’s impact on efficiency, competition, Commission will hold an Open Meeting
20 15 U.S.C. 78s(b)(3)(A)(iii). and capital formation. See 15 U.S.C. 78c(f).
21 17 CFR 240.19b–4(f)(6). 25 15 U.S.C. 78s(b)(2)(B). 26 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 80, No. 148 / Monday, August 3, 2015 / Notices 46081

on Wednesday, August 5, 2015 at 10:00 notice is hereby given that on July 17, scheduled to expire on July 31, 2015,
a.m., in the Auditorium, Room L–002. 2015, NYSE MKT LLC (the ‘‘Exchange’’ until the earlier of Commission approval
The subject matter of the Open or ‘‘NYSE MKT’’) filed with the to make such Pilot permanent or
Meeting will be: Securities and Exchange Commission October 31, 2015.
• The Commission will consider (the ‘‘Commission’’) the proposed rule
whether to adopt rules and forms under change as described in Items I and II Background 5
the Securities Exchange Act of 1934 below, which Items have been prepared In October 2008, the New York Stock
(‘‘Exchange Act’’) providing for the by the self-regulatory organization. The Exchange LLC (‘‘NYSE’’) implemented
registration of security-based swap Commission is publishing this notice to significant changes to its market rules,
dealers and major security-based swap solicit comments on the proposed rule execution technology and the rights and
participants. change from interested persons. obligations of its market participants all
• The Commission will consider of which were designed to improve
whether to propose a rule of practice to I. Self-Regulatory Organization’s
execution quality on the NYSE. These
provide a process for a registered Statement of the Terms of Substance of
changes were all elements of the NYSE’s
security-based swap dealer or major the Proposed Rule Change
and the Exchange’s enhanced market
security-based swap participant to make The Exchange proposes to extend the model referred to as the ‘‘New Market
an application to the Commission for an operation of its Supplemental Liquidity Model’’ (‘‘NMM Pilot’’).6 The NYSE SLP
order permitting an associated person Providers Pilot (‘‘SLP Pilot’’ or ‘‘Pilot’’) Pilot was launched in coordination with
who is subject to a statutory (see Rule 107B—Equities), currently the NMM Pilot (see NYSE Rule 107B).
disqualification to effect or be involved scheduled to expire on July 31, 2015, As part of the NMM Pilot, NYSE
in effecting security-based swaps on until the earlier of the Securities and eliminated the function of specialists on
behalf of the security-based swap dealer Exchange Commission’s the Exchange creating a new category of
or major security-based swap (‘‘Commission’’) approval to make such market participant, the Designated
participant. Pilot permanent or October 31, 2015. Market Maker or ‘‘DMM.’’ 7 Separately,
• The Commission will consider The text of the proposed rule change is the NYSE established the SLP Pilot,
whether to adopt a rule requiring public available on the Exchange’s Web site at which established SLPs as a new class
companies to disclose the ratio of the www.nyse.com, at the principal office of of market participants to supplement
annual total compensation of the chief the Exchange, and at the Commission’s the liquidity provided by DMMs.8
executive officer to the median of the Public Reference Room. The NYSE adopted NYSE Rule 107B
annual total compensation of the governing SLPs as a six-month pilot
company’s employees as required by II. Self-Regulatory Organization’s
Statement of the Purpose of, and program commencing in November
section 953(b) of the Dodd-Frank Wall 2008. This NYSE pilot has been
Statutory Basis for, the Proposed Rule
Street Reform and Consumer Protection extended several times, most recently to
Change
Act. July 31, 2015.9 The NYSE has filed to
At times, changes in Commission In its filing with the Commission, the
priorities require alterations in the self-regulatory organization included 30, 2011) (SR–NYSEAmex–2011–103) (extending
scheduling of meeting items. statements concerning the purpose of, the operation of the SLP Pilot to July 31, 2012);
For further information and to and basis for, the proposed rule change 67496 (July 25, 2012), 77 FR 45390 (July 31, 2012)
ascertain what, if any, matters have been and discussed any comments it received (SR–NYSEMKT–2012–22) (extending the operation
of the SLP Pilot to January 31, 2013); 68557
added, deleted, or postponed, please on the proposed rule change. The text (January 2, 2013), 78 FR 1284 (January 8, 2013) (SR–
contact: The Office of the Secretary at of those statements may be examined at NYSEMKT–2012–85) (extending the operation of
(202) 551–5400. the places specified in Item IV below. the SLP Pilot to July 31, 2013); 69820 (June 21,
Dated: July 29, 2015. The Exchange has prepared summaries, 2013), 78 FR 38748 (June 27, 2013) (SR–
set forth in sections A, B, and C below, NYSEMKT–2013–52) (extending the operation of
Brent J. Fields, the SLP Pilot to January 31, 2014); 71361 (January
of the most significant parts of such 21, 2014), 79 FR 4364 (January 27, 2014) (SR–
Secretary.
statements. NYSEMKT–2014–03) (extending the operation of
[FR Doc. 2015–19077 Filed 7–30–15; 4:15 pm] the SLP Pilot to July 31, 2014); and 72623 (July 16,
BILLING CODE 8011–01–P A. Self-Regulatory Organization’s 2014), 79 FR 41592 (July 22, 2014) (SR–NYSEMKT–
Statement of the Purpose of, and the 2014–58 (extending the operation of the SLP Pilot
Statutory Basis for, the Proposed Rule to December 31, 2014); and 73947 (December 24,
2014), 80 FR 83 (January 2, 2015) (SR–NYSEMKT–
SECURITIES AND EXCHANGE Change 2014–110 (extending the operation of the SLP Pilot
COMMISSION 1. Purpose to July 31, 2015).
5 The information contained herein is a summary
[Release No. 34–75534; File No. SR– The Exchange proposes to extend the of the ‘‘New Market Model’’ Pilot and the SLP Pilot.
NYSEMKT–2015–53]
operation of its SLP Pilot,4 currently See supra note 4 and infra note 6 for a fuller
description of those pilots.
Self-Regulatory Organizations; NYSE 4 See Securities Exchange Act Release No. 61308
6 See Securities Exchange Act Release No. 58845

MKT LLC; Notice of Filing and (January 7, 2010), 75 FR 2573 (January 15, 2010) (October 24, 2008), 73 FR 64379 (October 29, 2008)
Immediate Effectiveness of Proposed (SR–NYSEAmex–2009–98) (establishing the NYSE (SR–NYSE–2008–46).
7 See NYSE Rule 103.
Rule Change Extending the Operation Amex Equities SLP Pilot). See also Securities
8 See NYSE Rule 107B and NYSE MKT Rule
of Its Supplemental Liquidity Providers Exchange Act Release Nos. 61841 (April 5, 2010),
75 FR 18560 (April 12, 2010) (SR–NYSEAmex– 107B—Equities. NYSE amended the monthly
Pilot Until October 31, 2015 2010–33) (extending the operation of the SLP Pilot volume requirements to an average daily volume
to September 30, 2010); 62814 (September 1, 2010), (‘‘ADV’’) that is a specified percentage of NYSE
mstockstill on DSK4VPTVN1PROD with NOTICES

July 28, 2015. 75 FR 54671 (September 8, 2010) (SR–NYSEAmex– consolidated ADV. See Securities Exchange Act
Pursuant to Section 19(b)(1) 1 of the 2010–88) (extending the operation of the SLP Pilot Release No. 67759 (August 30, 2012), 77 FR 54939
Securities Exchange Act of 1934 (the to January 31, 2011); 63615 (December 29, 2010), 76 (September 6, 2012) (SR–NYSE–2012–38).
FR 611 (January 5, 2011) (SR–NYSEAmex–2010– 9 See Securities Exchange Act Release Nos. 58877
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
123) (extending the operation of the SLP Pilot to (October 29, 2008), 73 FR 65904 (November 5, 2008)
August 1, 2011); 64772 (June 29, 2011), 76 FR 39455 (SR–NYSE–2008–108) (adopting SLP Pilot
1 15 U.S.C. 78s(b)(1). (July 6, 2011) (SR–NYSEAmex–2011–44) (extending program); 59869 (May 6, 2009), 74 FR 22796 (May
2 15 U.S.C. 78a. the operation of the SLP Pilot to January 31, 2012); 14, 2009) (SR–NYSE–2009–46) (extending SLP Pilot
3 17 CFR 240.19b–4. 66041 (December 23, 2011), 76 FR 82328 (December Continued

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Document Created: 2018-02-23 10:51:32
Document Modified: 2018-02-23 10:51:32

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 46080