80 FR 46363 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.11, Routing to Away Trading Centers
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 149 (August 4, 2015)
Federal Register Volume 80, Issue 149 (August 4, 2015)
| Page Range | 46363-46365 | |
| FR Document | 2015-19015 |
[Federal Register Volume 80, Number 149 (Tuesday, August 4, 2015)] [Notices] [Pages 46363-46365] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19015] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75550; File No. SR-EDGA-2015-28] Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.11, Routing to Away Trading Centers July 29, 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 July 21, 2015, EDGA Exchange, Inc. (the ``Exchange'' or ``EDGA'') 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. --------------------------------------------------------------------------- \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). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rule 11.11, Routing to Away Trading Centers, to: (i) Delete references to the ROOC routing option; and (ii) update routing options IOCM and ICMT to reflect a recent proposed rule change by EDGX Exchange, Inc. (``EDGX'') in which EDGX replaced the MidPoint Match Order with the MidPoint Peg Order.\5\ --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 75479 (July 17, 2015) (SR-EDGX-2015-33). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.batstrading.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. 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 parts 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 proposes to amend Rule 11.11, Routing to Away Trading Centers, to: (i) Delete references to the ROOC routing option; and (ii) update routing options IOCM and ICMT to reflect a recent proposed rule change by EDGX in which EDGX replaced the MidPoint Match Order with the MidPoint Peg Order.\6\ --------------------------------------------------------------------------- \6\ See supra note 5. --------------------------------------------------------------------------- [[Page 46364]] ROOC Routing Option Under Rule 11.11(g)(8), an order utilizing the ROOC routing option is designated by the User \7\ to participate in the opening, re-opening (following a halt, suspension, or pause), or closing process of a primary listing market (BATS, NYSE, Nasdaq, NYSE MKT, or NYSE Arca) if received before the opening/re-opening/closing time of such market. If shares remain unexecuted after attempting to execute in the opening, re-opening, or closing process, they are either posted to the EDGA Book,\8\ executed, or routed to destinations on the System \9\ routing table.\10\ --------------------------------------------------------------------------- \7\ The term ``User'' is defined as ``any Member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3.'' See Exchange Rule 1.5(ee). \8\ The term ``EDGA Book is defined as ``the System's electronic file of orders.'' Rule 1.5(d). \9\ The term ``System'' is defined as ``the electronic communications and trading facility designated by the Board through which securities orders of Users are consolidated for ranking, execution and, when applicable, routing away.'' Rule 1.5(cc). \10\ The term ``System routing table'' refers to the proprietary process for determining the specific trading venues to which the System routes orders and the order in which it routes them. Rule 11.11(g). Orders in BATS listed securities designated for participation in the re-opening process on BATS following a halt, suspension, or pause remain on the EDGA Book and be eligible for execution once the halt, suspension, or pause has been lifted. Rule 11.11(g)(8). --------------------------------------------------------------------------- Because few Users elect the ROOC routing option, the Exchange has determined that the current demand does not warrant the infrastructure and ongoing maintenance expenses required to support the product. Therefore, the Exchange proposes to delete the ROOC routing option under Rule 11.11(g)(8) as well as a reference to the ROOC routing option under Rule 11.11(g)(16). Users seeking to route orders to participate in the opening, re-opening, or closing process of a primary listing market may use alternative methods, such as connecting to those markets directly or through a third party service provider, or electing another routing option offered by the Exchange that enables a User to post an order to certain primary listing markets.\11\ --------------------------------------------------------------------------- \11\ See e.g., Rule 11.11(g)(4) (describing the INET routing option under which an order checks the System for available shares and then is sent to Nasdaq. If shares remain unexecuted after routing, they are posted on the Nasdaq book, unless otherwise instructed by the User), Rule 11.11(g)(5) (describing the RDOT routing option under which an order checks the System for available shares and then is sent to destinations on the System routing table. If shares remain unexecuted after routing, they are sent to the NYSE and can be re-routed by the NYSE. Any remainder will be posted to the NYSE, unless otherwise instructed by the User), and Rule 11.11(g)(6) (describing the RDOX routing option under which an order checks the System for available shares, is then sent to the NYSE and can be re-routed by the NYSE. If shares remain unexecuted after routing, they are posted on the NYSE book, unless otherwise instructed by the User). --------------------------------------------------------------------------- IOCM and ICMT Routing Options The Exchange also proposes to amend Rules 11.11(g)(11) and (12) to update routing options IOCM and ICMT to reflect a recent rule change by EDGX in which EDGX replaced the MidPoint Match Order with the MidPoint Peg Order.\12\ Rule 11.11(g)(11) describes IOCM as a routing option under which an order checks the System for available shares and then is sent, as a MidPoint Match Order with a Time-in-Force of IOC,\13\ to EDGX. Similarly, Rule 11.11(g)(12) describes ICMT as a routing option under which an order checks the System for available shares, then is sent to destinations on the System routing table and then is sent, as a MidPoint Match Order with a Time-in-Force of IOC, to EDGX. Under both IOCM and ICMT, if shares remain unexecuted after routing, they are posted to the EDGA Book, unless otherwise instructed by the User. --------------------------------------------------------------------------- \12\ See supra note 5. \13\ See Rule 11.6(q)(1). --------------------------------------------------------------------------- On July 8, 2015, EDGX filed a proposed rule change with the Commission for immediate effectiveness to, among other things, replace the MidPoint Match Order with the MidPoint Peg Order.\14\ Therefore, the Exchange proposes to update the description of the IOCM and ICMT routing options to replace references to the MidPoint Match Order with the MidPoint Peg Order. --------------------------------------------------------------------------- \14\ See supra note 5. --------------------------------------------------------------------------- Implementation Date The Exchange intends to implement the proposed changes to the descriptions of the IOCM and ICMT routing option immediately.\15\ The Exchange will alert Users via a Trading Notice of the date upon which it will discontinue the ROOC routing option. --------------------------------------------------------------------------- \15\ Implementation of the proposed rule change immediately upon filing is contingent upon the Commission granting a waiver of the 30-day operative delay. 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \16\ in general, and furthers the objectives of Section 6(b)(5) of the Act \17\ in particular, in that it is designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in 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. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78f(b). \17\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange does not believe that this proposal will permit unfair discrimination among customers, brokers, or dealers because the ROOC routing option will no longer be available and the updates to the IOCM and ICMT routing options would apply to all Users equally. The Exchange has few Users electing the ROOC routing option and has determined that the current demand does not warrant the infrastructure and ongoing maintenance expense required to support the product. Routing through the Exchange is voluntary and alternative routing options offered by the Exchange as well as other methods remain available to Users that wish to route orders to participate in the opening, re-opening, or closing process of the primary listing market.\18\ In addition, the ROOC routing option is not a core product offering by the Exchange, nor is the Exchange required by the Act to offer such a product. The proposed updates to routing options IOCM and ICMT are in response to a recent rule change by EDGX in which EDGX replaced the MidPoint Match Order with the MidPoint Peg Order.\19\ The proposal is intended to accurately describe how orders utilizing the IOCM or ICMT routing options are to be handled by the Exchange in light of the EDGX proposed rule change mentioned above. Therefore, the Exchange believes the proposed rule change would make its rules clearer and less confusing for investors; thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system, and, in general, protecting investors and the public interest. --------------------------------------------------------------------------- \18\ See supra note 11 and accompanying text. \19\ See supra note 5. --------------------------------------------------------------------------- (B) Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposal will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address any competitive issues but rather avoid investor confusion by eliminating the ROOC routing option that is to be discontinued by the Exchange as well as update the IOCM and ICMT routing options in response to a recent proposed rule change by EDGX.\20\ --------------------------------------------------------------------------- \20\ Id. --------------------------------------------------------------------------- [[Page 46365]] (C) Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the 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, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6) thereunder.\21\ --------------------------------------------------------------------------- \21\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and text of 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. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-44(f)(6) under the Act normally does not become operative for 30 days after the date of its filing. However, Rule 19b-44(f)(6)(iii) permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. Waiver of the 30-day operative delay would allow the Exchange to modify its rules in a timely manner by: (i) Eliminating a rule that accounts for a service the Exchange intends to discontinue; and (ii) updating its rules to accurately describe how orders utilizing those routing options function in light of the recent proposed rule change by EDGX, thereby avoiding potential investor confusion during the operative delay period. Based on the foregoing, the Commission believes the waiver of the operative delay is consistent with the protection of investors and the public interest.\22\ The Commission hereby grants the waiver and designates the proposal operative upon filing. --------------------------------------------------------------------------- \22\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 necessary or appropriate in the public interest, for the protection of investors, or 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 CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-EDGA-2015-28 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 Number SR-EDGA-2015-28. 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 will also 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-EDGA-2015-28 and should be submitted on or before August 25, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\23\ --------------------------------------------------------------------------- \23\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-19015 Filed 8-3-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 149 / Tuesday, August 4, 2015 / Notices 46363
Office of Management and Budget Written comments are invited on: (a) by the Exchange. The Exchange has
(‘‘OMB’’) for extension and approval. Whether the proposed collection of designated this proposal as a ‘‘non-
Rule 17Ad–4(b) & (c) (17 CFR information is necessary for the proper controversial’’ proposed rule change
240.17Ad–4) is used to document when performance of the functions of the pursuant to Section 19(b)(3)(A) of the
transfer agents are exempt, or no longer Commission, including whether the Act 3 and Rule 19b–4(f)(6)(iii)
exempt, from the minimum information shall have practical utility; thereunder,4 which renders it effective
performance standards and certain (b) the accuracy of the Commission’s upon filing with the Commission. The
recordkeeping provisions of the estimates of the burden of the proposed Commission is publishing this notice to
Commission’s transfer agent rules. collection of information; (c) ways to solicit comments on the proposed rule
Pursuant to Rule 17Ad–4(b), if the enhance the quality, utility, and clarity change from interested persons.
Commission or the Office of the of the information on respondents; and
I. Self-Regulatory Organization’s
Comptroller of the Currency (‘‘OCC’’) is (d) ways to minimize the burden of the
Statement of the Terms of Substance of
the appropriate regulatory authority collection of information on
the Proposed Rule Change
(‘‘ARA’’) for an exempt transfer agent, respondents, including through the use
that transfer agent is required to prepare of automated collection techniques or The Exchange filed a proposal to
and maintain in its possession a notice other forms of information technology. amend Rule 11.11, Routing to Away
certifying that it is exempt from certain Consideration will be given to Trading Centers, to: (i) Delete references
performance standards and comments and suggestions submitted in to the ROOC routing option; and (ii)
recordkeeping and record retention writing within 60 days of this update routing options IOCM and ICMT
provisions of the Commission’s transfer publication. to reflect a recent proposed rule change
agent rules. This notice need not be The Commission may not conduct or by EDGX Exchange, Inc. (‘‘EDGX’’) in
filed with the Commission or OCC. If sponsor a collection of information which EDGX replaced the MidPoint
the Board of Governors of the Federal unless it displays a currently valid Match Order with the MidPoint Peg
Reserve System (‘‘Fed’’) or the Federal control number. No person shall be Order.5
Deposit Insurance Corporation (‘‘FDIC’’) subject to any penalty for failing to The text of the proposed rule change
is the transfer agent’s ARA, that transfer comply with a collection of information is available at the Exchange’s Web site
agent must prepare a notice and file it subject to the PRA that does not display at www.batstrading.com, at the
with the Fed or FDIC. a valid Office of Management and principal office of the Exchange, and at
Rule 17Ad–4(c) sets forth the Budget control number. the Commission’s Public Reference
conditions under which a registered Please direct your written comments Room.
transfer agent loses its exempt status. to: Pamela Dyson, Director/Chief
Information Officer, Securities and II. Self-Regulatory Organization’s
Once the conditions for exemption no
Exchange Commission, c/o Remi Pavlik- Statement of the Purpose of, and
longer exist, the transfer agent, to keep
Simon, 100 F Street NE., Washington, Statutory Basis for, the Proposed Rule
the appropriate regulatory authority
DC 20549, or send an email to: PRA_ Change
(‘‘ARA’’) apprised of its current status,
must prepare, and file if the ARA for the Mailbox@sec.gov. In its filing with the Commission, the
transfer agent is the Board of Governors Dated: July 28, 2015. Exchange included statements
of the Federal Reserve System Robert W. Errett, concerning the purpose of and basis for
(‘‘BGFRS’’) or the Federal Deposit Deputy Secretary. the proposed rule change and discussed
Insurance Corporation (‘‘FDIC’’), a any comments it received on the
[FR Doc. 2015–19013 Filed 8–3–15; 8:45 am]
notice of loss of exempt status under proposed rule change. The text of these
BILLING CODE 8011–01–P
paragraph (c). The transfer agent then statements may be examined at the
cannot claim exempt status under Rule places specified in Item IV below. The
17Ad–4(b) again until it remains subject SECURITIES AND EXCHANGE Exchange has prepared summaries, set
to the minimum performance standards COMMISSION forth in Sections A, B, and C below, of
for non-exempt transfer agents for six the most significant parts of such
consecutive months. [Release No. 34–75550; File No. SR–EDGA– statements.
ARAs use the information contained 2015–28]
(A) Self-Regulatory Organization’s
in the notices required by Rules 17Ad–
Self-Regulatory Organizations; EDGA Statement of the Purpose of, and
4(b) and 17Ad–4(c) to determine
Exchange, Inc.; Notice of Filing and Statutory Basis for, the Proposed Rule
whether a registered transfer agent
Immediate Effectiveness of a Proposed Change
qualifies for the exemption, to
Rule Change to Rule 11.11, Routing to 1. Purpose
determine when a registered transfer
Away Trading Centers
agent no longer qualifies for the
The Exchange proposes to amend
exemption, and to determine the extent July 29, 2015. Rule 11.11, Routing to Away Trading
to which that transfer agent is subject to Pursuant to Section 19(b)(1) of the Centers, to: (i) Delete references to the
regulation. Securities Exchange Act of 1934 (the ROOC routing option; and (ii) update
The Commission estimates that ‘‘Act’’),1 and Rule 19b–4 thereunder,2 routing options IOCM and ICMT to
approximately 10 registered transfer notice is hereby given that on July 21, reflect a recent proposed rule change by
agents each year prepare or file notices 2015, EDGA Exchange, Inc. (the EDGX in which EDGX replaced the
in compliance with Rules 17Ad–4(b) ‘‘Exchange’’ or ‘‘EDGA’’) filed with the MidPoint Match Order with the
tkelley on DSK3SPTVN1PROD with NOTICES
and 17Ad–4(c). The Commission Securities and Exchange Commission MidPoint Peg Order.6
estimates that each such registered (‘‘Commission’’) the proposed rule
transfer agent spends approximately 1.5 change as described in Items I and II 3 15 U.S.C. 78s(b)(3)(A).
hours to prepare or file such notices for below, which Items have been prepared 4 17 CFR 240.19b–4(f)(6)(iii).
an aggregate total annual burden of 15 5 See Securities Exchange Act Release No. 75479
hours (1.5 hours times 10 transfer 1 15 U.S.C. 78s(b)(1). (July 17, 2015) (SR–EDGX–2015–33).
agents). 2 17 CFR 240.19b–4. 6 See supra note 5.
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![Federal Register / Vol. 80, No. 149 / Tuesday, August 4, 2015 / Notices 46365
(C) Self-Regulatory Organization’s Commission summarily may available publicly. All submissions
Statement on Comments on the temporarily suspend such rule change if should refer to File Number SR–EDGA–
Proposed Rule Change Received From it appears to the Commission that such 2015–28 and should be submitted on or
Members, Participants or Others action is necessary or appropriate in the before August 25, 2015.
The Exchange has neither solicited public interest, for the protection of For the Commission, by the Division of
nor received written comments on the investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated
proposed rule change. the purposes of the Act. If the authority.23
Commission takes such action, the Robert W. Errett,
III. Date of Effectiveness of the Commission shall institute proceedings Deputy Secretary.
Proposed Rule Change and Timing for to determine whether the proposed rule [FR Doc. 2015–19015 Filed 8–3–15; 8:45 am]
Commission Action should be approved or disapproved.
BILLING CODE 8011–01–P
Because the proposed rule change IV. Solicitation of Comments
does not (i) significantly affect the
protection of investors or the public Interested persons are invited to
SECURITIES AND EXCHANGE
interest; (ii) impose any significant submit written data, views, and
COMMISSION
burden on competition; and (iii) become arguments concerning the foregoing,
operative for 30 days from the date on including whether the proposed rule [Investment Company Act Release No.
change is consistent with the Act. 31728; 812–14337]
which it was filed, or such shorter time
as the Commission may designate, the Comments may be submitted by any of
the following methods: AMG Pantheon Private Equity Fund,
proposed rule change has become LLC, et al.; Notice of Application
effective pursuant to Section 19(b)(3)(A) Electronic Comments
of the Act and Rule 19b–4(f)(6) July 29, 2015.
• Use the Commission’s Internet
thereunder.21 AGENCY: Securities and Exchange
A proposed rule change filed comment form (http://www.sec.gov/
Commission (‘‘Commission’’).
pursuant to Rule 19b–44(f)(6) under the rules/sro.shtml); or
• Send an email to rule-comments@ ACTION: Notice of an application under
Act normally does not become operative section 6(c) of the Investment Company
sec.gov. Please include File Number SR–
for 30 days after the date of its filing. Act of 1940 (the ‘‘Act’’) for an
EDGA–2015–28 on the subject line.
However, Rule 19b–44(f)(6)(iii) permits exemption from sections 18(c) and 18(i)
the Commission to designate a shorter Paper Comments of the Act and for an order pursuant to
time if such action is consistent with the • Send paper comments in triplicate section 17(d) of the Act and rule 17d–
protection of investors and the public to Brent J. Fields, Secretary, Securities 1 under the Act.
interest. The Exchange has asked the and Exchange Commission, 100 F Street
Commission to waive the 30-day NE., Washington, DC 20549–1090. SUMMARY OF APPLICATION: Applicants
operative delay so that the proposal may All submissions should refer to File request an order to permit certain
become operative immediately upon Number SR–EDGA–2015–28. This file registered closed-end management
filing. Waiver of the 30-day operative number should be included on the investment companies to issue multiple
delay would allow the Exchange to subject line if email is used. To help the classes of units of beneficial interest
modify its rules in a timely manner by: Commission process and review your (‘‘Units’’) with varying sales loads and
(i) Eliminating a rule that accounts for comments more efficiently, please use to impose asset-based distribution and/
a service the Exchange intends to only one method. The Commission will or service fees, and contingent deferred
discontinue; and (ii) updating its rules post all comments on the Commission’s sales loads (‘‘CDSCs’’).
to accurately describe how orders Internet Web site (http://www.sec.gov/ APPLICANTS: AMG Pantheon Private
utilizing those routing options function rules/sro.shtml). Copies of the Equity Fund, LLC (the ‘‘Feeder Fund’’),
in light of the recent proposed rule submission, all subsequent AMG Pantheon Private Equity Master
change by EDGX, thereby avoiding amendments, all written statements Fund, LLC (the ‘‘Master Fund’’),
potential investor confusion during the with respect to the proposed rule Pantheon Ventures (US) LP (the
operative delay period. Based on the change that are filed with the ‘‘Adviser’’) and AMG Distributors, Inc.
foregoing, the Commission believes the Commission, and all written (the ‘‘Placement Agent’’).
waiver of the operative delay is communications relating to the FILING DATES: The application was filed
consistent with the protection of proposed rule change between the on July 25, 2014, and amended on
investors and the public interest.22 The Commission and any person, other than December 30, 2014 and May 13, 2015.
Commission hereby grants the waiver those that may be withheld from the HEARING OR NOTIFICATION OF HEARING:
and designates the proposal operative public in accordance with the An order granting the requested relief
upon filing. provisions of 5 U.S.C. 552, will be will be issued unless the Commission
At any time within 60 days of the available for Web site viewing and orders a hearing. Interested persons may
filing of the proposed rule change, the printing in the Commission’s Public request a hearing by writing to the
21 In addition, Rule 19b–4(f)(6)(iii) requires the
Reference Room, 100 F Street NE., Commission’s Secretary and serving
Exchange to give the Commission written notice of Washington, DC 20549, on official applicants with a copy of the request,
the Exchange’s intent to file the proposed rule business days between the hours of personally or by mail. Hearing requests
change, along with a brief description and text of 10:00 a.m. and 3:00 p.m. Copies of the should be received by the Commission
the proposed rule change, at least five business days filing will also be available for
prior to the date of filing of the proposed rule
by 5:30 p.m. on August 21, 2015, and
tkelley on DSK3SPTVN1PROD with NOTICES
change, or such shorter time as designated by the inspection and copying at the principal should be accompanied by proof of
Commission. The Exchange has satisfied this office of the Exchange. All comments service on the applicants, in the form of
requirement. received will be posted without change; an affidavit, or, for lawyers, a certificate
22 For purposes only of waiving the 30-day
the Commission does not edit personal of service. Pursuant to rule 0–5 under
operative delay, the Commission has also
considered the proposed rule’s impact on
identifying information from the Act, hearing requests should state
efficiency, competition, and capital formation. See submissions. You should submit only
15 U.S.C. 78c(f). information that you wish to make 23 17 CFR 200.30–3(a)(12).
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Document Created: 2015-12-18 14:51:30
Document Modified: 2015-12-18 14:51:30
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 80 FR 46363 |
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