80 FR 57405 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 184 (September 23, 2015)

Page Range		57405-57406
FR Document		2015-24217

Federal Register, Volume 80 Issue 184 (Wednesday, September 23, 2015)

[Federal Register Volume 80, Number 184 (Wednesday, September 23, 2015)]
[Notices]
[Pages 57405-57406]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-24217]


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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 a Closed Meeting on Friday, September 
25, 2015 at 11:00 a.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the Closed Meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the 
scheduled matter at the Closed Meeting.
    Commissioner Piwowar, as duty officer, voted to consider the items 
listed for the Closed Meeting in closed session.
    The subject matter of the Closed Meeting will be:
    Institution of injunctive actions;
    Institution and settlement of administrative proceedings; and
    Other matters relating to enforcement proceedings.

[[Page 57406]]

    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: September 18, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-24217 Filed 9-21-15; 11:15 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 184 / Wednesday, September 23, 2015 / Notices 57405

Associated with the Development of a this and other countries will discuss scientific validity of activities
Separate Repository for U.S. issues such as: undertaken by DOE related to
Department of Energy-Managed High- • Expected hydrogeological and implementing the NWPA. Board
Level Radioactive Waste and Spent geochemical conditions at the proposed members are experts in their fields and
Nuclear Fuel. In its report, the Board disposal depth and their associated are appointed by the President from a
reviewed two DOE reports, one of which characterization methods; list of candidates submitted by the
was released in October 2014 and the • Waste forms to be disposed of, National Academy of Sciences. The
other in March 2015. The DOE reports durability of waste-disposal canister and Board reports its findings, conclusions,
recommended implementing a strategy overpack materials, and effectiveness of and recommendations to Congress and
for disposal of some DOE-managed borehole seals; the Secretary of Energy. Board reports,
high-level radioactive waste (HLW), and • Challenges to deep drilling in correspondence, congressional
possibly some DOE-managed spent crystalline rocks and to operations testimony, and meeting transcripts and
nuclear fuel (SNF), in a separate related to emplacing the waste canisters materials are posted on the Board’s Web
geologic repository rather than in boreholes; site.
commingling the DOE wastes in a single • Regulatory framework for deep For information on the workshop,
repository with commercial HLW and borehole disposal of solid radioactive contact Bret Leslie at leslie@nwtrb.gov,
SNF. The October 2014 report also wastes; Roberto Pabalan at pabalan@nwtrb.gov,
recommended that DOE retain the • Advantages and disadvantages of or Karyn Severson at severson@
flexibility to consider options for deep borehole disposal compared with nwtrb.gov. For information on meeting
disposal of smaller DOE-managed waste other disposal concepts. logistics, contact Linda Coultry at
There will be a lunchtime
forms in deep boreholes rather than in coultry@nwtrb.gov. They can be reached
presentation on Tuesday titled
a mined, geologic repository. DOE by phone at 703–235–4473.
‘‘International Perspective on Deep
identified cesium and strontium Dated: September 17, 2015.
Borehole Disposal.’’ Those who wish to
capsules as candidates for disposal in
attend the lunchtime presentation Nigel Mote,
deep boreholes.
should send an email no later than Executive Director, U.S. Nuclear Waste
The Board’s October workshop will October 15 to October2015Workshop@ Technical Review Board.
look at issues associated with the design nwtrb.gov with the words ‘‘Working [FR Doc. 2015–24043 Filed 9–22–15; 8:45 am]
and implementation of a program for Lunch RSVP’’ in the subject line. BILLING CODE P
deep borehole disposal of solid Information on arrangements for the
radioactive wastes. In particular, the lunch will be provided in response to
objective of the workshop will be to the email.
identify the technical and scientific The panel discussions will resume at SECURITIES AND EXCHANGE
issues associated with DOE’s research 8:00 a.m. on Wednesday and continue COMMISSION
and development program to assess the throughout the day until the conclusion
viability of the deep borehole disposal of the workshop at approximately 5:00 Sunshine Act Meeting
concept and, more broadly, to identify p.m.
issues associated with implementation Opportunities for public comment Notice is hereby given, pursuant to
of deep borehole disposal. will be provided on both days before the the provisions of the Government in the
The workshop will be held at the lunch break and at the end of the day. Sunshine Act, Public Law 94–409, that
Embassy Suites Hotel, 1250 22nd Street It may be necessary to set a time limit the Securities and Exchange
NW., Washington, DC 20037; (Tel) 202– on individual remarks in order to Commission will hold a Closed Meeting
857–3388, (Fax) 202–293–3173. A block maintain the schedule, but written on Friday, September 25, 2015 at 11:00
of sleeping rooms has been reserved at comments of any length may be a.m.
the hotel for meeting attendees. To make submitted during and after the Commissioners, Counsel to the
a reservation, attendees may call 1 800– workshop and will be entered into the Commissioners, the Secretary to the
445–8667. The group code name for the record of the meeting posted on the Commission, and recording secretaries
workshop is ‘‘NUC.’’ Reservations also Board’s Web site. The meeting will also will attend the Closed Meeting. Certain
may be made on the hotel Web site: be webcast through a link that will be staff members who have an interest in
http://embassysuites.hilton.com/en/es/ posted on the Board’s Web site. the matters also may be present.
groups/personalized/W/WASDNES– The workshop agenda will be The General Counsel of the
NUC–20151019/index.jhtml. available on the Board’s Web site Commission, or her designee, has
Reservations must be made by Monday, (www.nwtrb.gov) approximately one certified that, in her opinion, one or
September 28, 2015, to receive the week before the meeting. The transcript more of the exemptions set forth in 5
group rate. of the workshop discussions, the U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
The first day of the workshop will presentation materials, and any and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
begin at 8:00 a.m. and is scheduled to comments and other documents and (10), permit consideration of the
wind up at about 5:30 p.m. The agenda submitted for the record will be scheduled matter at the Closed Meeting.
on Tuesday will begin with available on the Board’s Web site after Commissioner Piwowar, as duty
presentations by DOE managers and November 20, 2015. The Webcast officer, voted to consider the items
experts on DOE’s plans for studying recording also will be available on the listed for the Closed Meeting in closed
session.
mstockstill on DSK4VPTVN1PROD with NOTICES

deep borehole disposal, including a Board’s Web site for a period of one year
field test program being planned by after the workshop. The subject matter of the Closed
DOE to provide information on the The Board was established in the Meeting will be:
geoscience of the deep borehole 1987 Nuclear Waste Policy Institution of injunctive actions;
disposal concept and the technical Amendments Act as an independent Institution and settlement of
issues associated with its federal agency in the Executive branch administrative proceedings; and
implementation. Following the DOE to perform an ongoing objective Other matters relating to enforcement
presentations, panels of experts from evaluation of the technical and proceedings.

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57406 Federal Register / Vol. 80, No. 184 / Wednesday, September 23, 2015 / Notices

At times, changes in Commission on the Exchange. The Phlx’s System for a ‘‘Firm’’ to mean ‘‘a broker-dealer
priorities require alterations in the trading Complex Orders includes a trading for its own (proprietary) account
scheduling of meeting items. Complex Order Opening Process that is: A member of The Options
For further information and to (‘‘COOP’’); the Complex Order Live Clearing Corporation (‘‘OCC’’) or
ascertain what, if any, matters have been Auction (‘‘COLA’’), an automated maintains a Joint Back Office (‘‘JBO’’)
added, deleted or postponed, please auction for seeking liquidity and price arrangement with an OCC member.7 The
contact the Office of the Secretary at improvement for Complex Orders; and a Phlx also proposes to revise Phlx Rule
(202) 551–5400. Complex Limit Order Book (‘‘CBOOK’’). 1080.07 to provide that orders from
Dated: September 18, 2015. According to the Phlx, among other Firms, like orders from market makers,
things, the proposal would revise Phlx would not trigger a COLA.8 In addition,
Brent J. Fields,
Rule 1080.07 to: (i) Accurately describe the Phlx proposes to treat Firms like
Secretary.
the operation of the COOP and the market makers for purposes of
[FR Doc. 2015–24217 Filed 9–21–15; 11:15 am] execution of orders at the opening, determining the allocations and
BILLING CODE 8011–01–P including the treatment of Immediate- execution price that their trading
or-Cancel (‘‘IOC’’) orders and Do Not interest will receive at the conclusion of
Auction (‘‘DNA’’) orders at the opening; a COLA.9
SECURITIES AND EXCHANGE (ii) add definitions of ‘‘COOP Sweep’’ The Phlx proposes to treat Firm
COMMISSION and ‘‘COLA Sweep,’’ and correct orders like non-Phlx market makers for
[Release No. 34–75942; File No. SR–Phlx– existing rule text to indicate that only purposes of these rules because the Phlx
2015–49] Phlx XL market makers may submit believes that the trading style and needs
COLA Sweeps; (iii) delete rule text that of Firms are more like market makers.10
Self-Regulatory Organizations; incorrectly states that a specialist could The Phlx states that Firms are large,
NASDAQ OMX PHLX LLC; Order be entitled to receive 40% of the well-capitalized broker-dealers that
Instituting Proceedings To Determine remainder of a COLA-eligible order, as trade for their own accounts and
Whether To Approve or Disapprove a well as rule text indicating that only a generally submit large orders, including
Proposed Rule Change To Amend and specialist’s interest at the cPBBO is orders that facilitate their clients’ orders
Correct Rule 1080.07 aggregated for purposes of determining or offset large positions taken to
the specialist’s entitlement in the COLA, accommodate their customers.11
September 17, 2015.
so that the revised rule will provide that According to the Phlx, Firms must have
I. Introduction the specialist is entitled to receive the the financial wherewithal that this role
On June 5, 2015, NASDAQ OMX greater of (a) the proportion of the necessitates.12 Thus, the Phlx states that
aggregate size associated with the Firms, in general, are commonly viewed
PHLX LLC (‘‘Exchange’’ or ‘‘Phlx’’) filed
specialist’s COLA Sweep, SQT and as liquidity providers, much like market
with the Securities and Exchange
RSQT COLA Sweeps, and non-SQT makers.13 The Phlx states that Firms do
Commission (‘‘Commission’’), pursuant
ROT Complex Orders on the CBOOK, or not expect or need their Complex
to Section 19(b)(1) of the Securities
(b) the Enhanced Specialist Orders to trigger a COLA, nor do they
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
Participation as described in Phlx Rule need or expect to submit Good Til
19b–4 thereunder,2 a proposed rule
1014(g)(ii); (iv) delete rule text Cancelled Orders, because these are
change to amend and correct several
indicating that, for allocation purposes, features commonly associated with
provisions in Phlx Rule 1080.07,
the size of a COLA Sweep or responsive customers rather than liquidity
‘‘Complex Orders on Phlx XL,’’ which
Complex Order will be limited to the providers who function to accommodate
governs the trading of Complex Orders size of the COLA-eligible order, thereby
on the Phlx’s Complex Order System trading interest.14 The Phlx notes that
clarifying that the size of a COLA Sweep both of these features involve a temporal
(‘‘System’’). The proposed rule change or responsive Complex Order that
was published for comment in the component, and that both a delay and
exceeds the size of the COLA-eligible long-lasting interest are inconsistent
Federal Register on June 23, 2015.3 On order may trade against remaining
July 30, 2015, the Commission extended interest after the COLA-eligible order 7 Id. Unless otherwise specified, Firms are
the time period for Commission action has been executed to the fullest extent included in the category of non-market-maker off-
to September 21, 2015.4 The possible; (v) revise rule text to indicate floor broker-dealer. Id.
Commission received no comments that other interest in a COLA may trade
8 See Phlx Rule 1080.07(e)(i)(B)(1). Orders from

regarding the proposal. This order non-market maker off-floor broker-dealers that are
after a COLA-eligible order has been not Firms would be COLA-eligible. See Phlx Rule
institutes proceedings under Section executed to the fullest extent possible, 1080.07(e)(i)(B)(1) and Notice, 80 FR at 36003.
19(b)(2)(B) of the Act 5 to determine rather than in its entirety, and to correct 9 See Phlx Rule 1080.07(e)(viii)(C)(2) and Notice,
whether to disapprove the proposed the description of the execution of 80 FR at 36003. Orders of non-market maker off-
rule change. crossing interest after a COLA-eligible floor broker-dealers that are not Firms would be
executed along with the orders of non-broker-dealer
II. Description of the Proposal order has been executed; (vi) provide customers at the conclusion of the COLA. See Phlx
that the System will place a Complex Rule 1080.07(e)(viii)(C)(1) and Notice, 80 FR at
The Phlx proposes to make a number Order received during a configurable 36003. At the same price, non-broker-dealer
of changes to Phlx Rule 1080.07 to period of time prior to the end of a customer orders would be executed in time priority,
amend and correct inconsistencies in while non-market-maker off-floor broker-dealer
trading session on the CBOOK after any orders would be executed on a pro rata basis at each
the rule and provide additional clarity marketable portion of the order has been price level. See Phlx Rule 1080.07(e)(viii)(C)(1)(d).
regarding the trading of Complex Orders
mstockstill on DSK4VPTVN1PROD with NOTICES

executed; and (vii) describe the 10 See Notice, 80 FR at 36003.

1 15
handling of all-or-none Complex Orders. 11 See Notice, 80 FR at 36003–36004.
U.S.C. 78s(b)(1). In addition to these changes, the Phlx 12 See Notice, 80 FR at 36004. In addition, Firms
2 17 CFR 240.19b–4.
proposes to amend Phlx Rule 1080.07 to that are OCC clearing members must comply with
3 See Securities Exchange Act Release No. 75189 OCC rules regarding, among other things, net
(June 17, 2015), 80 FR 35997 (‘‘Notice’’). add a definition of ‘‘Firm.’’ 6 capital, risk management procedures, and margin.
4 See Securities Exchange Act Release No. 75570, Specifically, the Phlx proposes to define See id.
80 FR 46619 (August 5, 2015). 13 See id.
5 15 U.S.C. 78s(b)(2)(B). 6 See Phlx Rule 1080.07(a)(x). 14 See Notice, 80 FR at 36005.

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Document Created: 2015-12-15 09:45:12
Document Modified: 2015-12-15 09:45:12

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 57405