80 FR 63593 - Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Fees Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 202 (October 20, 2015)

Page Range		63593-63595
FR Document		2015-26521

Federal Register, Volume 80 Issue 202 (Tuesday, October 20, 2015)

[Federal Register Volume 80, Number 202 (Tuesday, October 20, 2015)]
[Notices]
[Pages 63593-63595]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-26521]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76150; File No. SR-C2-2015-024]

Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
to Amend the Fees Schedule

October 14, 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 October 2, 2015, C2 Options Exchange, Incorporated (the
``Exchange'' or ``C2'') filed with the Securities and Exchange
Commission (the ``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.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

C2 Options Exchange, Incorporated (the ``Exchange'' or ``C2'')
proposes to amend the Fees Schedule. The text of the proposed rule
change is available on the Exchange's Web site (http://www.c2exchange.com/Legal/), at the Exchange's Office of the Secretary,
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 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 proposes to amend the Fees Schedule. Specifically, the
Exchange proposes to make changes to the Continuing Education Fees
section of the Fees Schedule to provide that continuing education for
all registration except the Series 56 will be $55 if conducted via Web-
delivery. Continuing education for all registration except the Series
56 will remain $100 if conducted at a testing center.
On August 8, 2015, the Securities and Exchange Commission approved
SR-FINRA-2015-015 relating proposed changes to FINRA Rule 1250 to
provide a Web-based delivery method for completing the Regulatory
Element of the continuing education requirements.\3\ Pursuant to the
rule change, effective October 1, 2015, the Regulatory Element of the
Continuing Education Programs for the S106 for Investment Company and
Variable Contracts Representatives, the S201 for registered principles
and supervisors, and the S901 for Operations Professionals will be
administered through Web-based delivery or such other technological
manner and format as specified by FINRA. The Regulatory Element of
these Continuing Education Programs will continue to be offered at
testing centers through January 4, 2016. Pursuant to the

[[Page 63594]]

Approval Order to SR-FINRA-2015-015, the fee for test-center delivery
of the Regulatory Element of the S106, S201, and S901 Continuing
Education Programs will continue to be $100 per session through January
4, 2016 when the programs will no longer be offered at testing centers.
The fee for Web-based delivery of the Regulatory Elements of the S106,
S201, and S901 Continuing Education Programs, however, will be $55.
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\3\ See Securities Exchange Act Release No. 75581 (July 31,
2015), 80 FR 47018 (August 6, 2015) (Order Approving a Proposed Rule
Change to Provide a Web-based Delivery Method for Completing the
Regulatory Element of the Continuing Education Requirements) (SR-
FINRA-2015-015).
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The Exchange currently utilizes FINRA's Continuing Education
Programs for its own continuing education requirements. Consistent with
SR-FINRA-2015-015, the Exchange [sic] recently filed SR-CBOE-2015-084
\4\ relating to continuing education. In that filing, the Exchange
[sic] proposed to follow the changes set forth in SR-FINRA-2015-015
with respect to Web-based delivery of the Regulatory Element of the
Continuing Education Programs for the S106 for Investment Company and
Variable Contracts Representatives, the S201 for registered principles
and supervisors, and the S901 for Operations Professionals. Consistent
with SR-CBOE-2015-084, this proposed rule change, proposes to amend the
Fees Schedule to provide that effective immediately, the fee for Web-
based delivery of the Regulatory Elements of the S106, S201, and S901
Continuing Education Programs will be $55. The fee test-center delivery
of the Regulatory Element of the S106, S201, and S901 Continuing
Education Programs will continue to be $100 per session through January
4, 2016 when the programs will no longer be offered at testing centers.
At that time, the Exchange will file another fee filing to remove the
test center option for delivery of the Regulatory Element from the Fees
Schedule.
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\4\ Available at http://www.cboe.com/publish/RuleFilingsSEC/SR-CBOE-2015-084.pdf.
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2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) of the
Act.\5\ Specifically, the Exchange believes the proposed rule change is
consistent with the Section 6(b)(5) \6\ requirements that the rules of
an exchange be 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.
Additionally, the Exchange believes the proposed rule change is
consistent with the Section 6(b)(5) \7\ requirement that the rules of
an exchange not be designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
\7\ Id.
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In particular, the Web-based delivery method for continuing
education is in the interest of investors and free and open markets. In
general, Web-based delivery will remove time parameters that exist with
respect to taking continuing education at testing centers. Having
additional time to take continuing education may result in better
learning outcomes, which should enhance investor protection. In
addition, the option to have Web-based delivery of the Regulatory
Element of the S106, S201, and S901 Continuing Education Programs at a
reduced cost lowers barriers to entry and removes impediments to a free
and open market and national market system by making it easier and less
costly for Trading Permit Holders to participate in the market.
Accordingly, the Exchange believes that Web-based delivery of the
Regulatory Element of the S106, S201, and S901 Continuing Education
Programs and reducing the costs of continuing education in general are
goals that are consistent with the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. As FINRA has stated, the
proposed rule change is specifically intended to reduce the burdens of
continuing education on market participants while preserving the
integrity of the S106, S201, and S901 Continuing Education Programs. In
general, reduction in cost and removal of barriers to entry encourages
competition among market participants, particularly in situations where
such rules are employed universally across the markets. By bringing the
Exchange's fees structure in line with that of FINRA, the Exchange
believes it is removing impediments to free and open markets and
encouraging competition between the Exchange and other markets that use
the S106, S201, and S901 Continuing Education Programs. Accordingly,
the Exchange further believes that the proposed rule change will
relieve burdens on, and otherwise promote competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

The Exchange 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

The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \8\ and paragraph (f) of Rule 19b-4 \9\
thereunder. 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 will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f).
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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 Comments

Use 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-C2-2015-024 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-C2-2015-024. 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

[[Page 63595]]

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 such filing also will be available for inspection
and copying at the principal offices 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-C2-2015-024, and should be
submitted on or before November 10, 2015.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-26521 Filed 10-19-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices 63593

1. The Commission establishes Docket Regulatory Commission to add Global the proposed rule change is available on
Nos. MC2016–5 and CP2016–5 to Expedited Package Services—Non- the Exchange’s Web site (http://www.
consider the matters raised in each Published Rates 8 (GEPS—NPR 8) to the c2exchange.com/Legal/), at the
docket. Competitive Products List. Exchange’s Office of the Secretary, and
2. Pursuant to 39 U.S.C. 505, JP DATES: Effective date: October 20, 2015. at the Commission’s Public Reference
Klingenberg is appointed to serve as an FOR FURTHER INFORMATION CONTACT:
Room.
officer of the Commission to represent Christopher C. Meyerson, 202–268– II. Self-Regulatory Organization’s
the interests of the general public in 7820. Statement of the Purpose of, and
these proceedings (Public Statutory Basis for, the Proposed Rule
Representative). SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby Change
3. Comments are due no later than
October 21, 2015. gives notice that, pursuant to 39 U.S.C. In its filing with the Commission, the
4. The Secretary shall arrange for 3642, on October 9, 2015, it filed with Exchange included statements
publication of this order in the Federal the Postal Regulatory Commission a concerning the purpose of and basis for
Register. Request of the United States Postal the proposed rule change and discussed
Service to add Global Expedited any comments it received on the
By the Commission.
Package Services—Non-Published Rates proposed rule change. The text of these
Ruth Ann Abrams, statements may be examined at the
8 (GEPS—NPR 8) to the Competitive
Acting Secretary. Products List, and Notice of Filing places specified in Item IV below. The
[FR Doc. 2015–26548 Filed 10–19–15; 8:45 am] GEPS—NPR 8 Model Contract and Exchange has prepared summaries, set
BILLING CODE 7710–FW–P Application for Non-Public Treatment forth in sections A, B, and C below, of
of Materials Filed Under Seal. the most significant aspects of such
Documents are available at statements.
POSTAL SERVICE www.prc.gov, Docket Nos. MC2016–5 A. Self-Regulatory Organization’s
and CP2016–5. Statement of the Purpose of, and
Product Change—Priority Mail
Negotiated Service Agreement Stanley F. Mires, Statutory Basis for, the Proposed Rule
Attorney, Federal Compliance. Change
AGENCY: Postal ServiceTM. [FR Doc. 2015–26512 Filed 10–19–15; 8:45 am] 1. Purpose
ACTION: Notice. BILLING CODE 7710–12–P
The Exchange proposes to amend the
SUMMARY: The Postal Service gives Fees Schedule. Specifically, the
notice of filing a request with the Postal Exchange proposes to make changes to
Regulatory Commission to add a SECURITIES AND EXCHANGE the Continuing Education Fees section
domestic shipping services contract to COMMISSION of the Fees Schedule to provide that
the list of Negotiated Service [Release No. 34–76150; File No. SR–C2– continuing education for all registration
Agreements in the Mail Classification 2015–024] except the Series 56 will be $55 if
Schedule’s Competitive Products List. conducted via Web-delivery. Continuing
DATES: Effective date: October 20, 2015. Self-Regulatory Organizations; C2 education for all registration except the
FOR FURTHER INFORMATION CONTACT:
Options Exchange, Incorporated; Series 56 will remain $100 if conducted
Elizabeth A. Reed, 202–268–3179. Notice of Filing and Immediate at a testing center.
Effectiveness of a Proposed Rule On August 8, 2015, the Securities and
SUPPLEMENTARY INFORMATION: The Exchange Commission approved SR–
Change to Amend the Fees Schedule
United States Postal Service® hereby FINRA–2015–015 relating proposed
gives notice that, pursuant to 39 U.S.C. October 14, 2015. changes to FINRA Rule 1250 to provide
3642 and 3632(b)(3), on October 14, Pursuant to Section 19(b)(1) of the a Web-based delivery method for
2015, it filed with the Postal Regulatory Securities Exchange Act of 1934 (the completing the Regulatory Element of
Commission a Request of the United ‘‘Act’’),1 and Rule 19b–4 thereunder,2 the continuing education requirements.3
States Postal Service to Add Priority notice is hereby given that on October Pursuant to the rule change, effective
Mail Contract 148 to Competitive 2, 2015, C2 Options Exchange, October 1, 2015, the Regulatory Element
Product List. Documents are available at Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) of the Continuing Education Programs
www.prc.gov, Docket Nos. MC2016–6, filed with the Securities and Exchange for the S106 for Investment Company
CP2016–6. Commission (the ‘‘Commission’’) the and Variable Contracts Representatives,
Stanley F. Mires,
proposed rule change as described in the S201 for registered principles and
Items I, II, and III below, which Items supervisors, and the S901 for
Attorney, Federal Compliance.
have been prepared by the Exchange. Operations Professionals will be
[FR Doc. 2015–26511 Filed 10–19–15; 8:45 am]
The Commission is publishing this administered through Web-based
BILLING CODE 7710–12–P notice to solicit comments on the delivery or such other technological
proposed rule change from interested manner and format as specified by
persons. FINRA. The Regulatory Element of these
POSTAL SERVICE
Continuing Education Programs will
I. Self-Regulatory Organization’s
International Product Change—Global continue to be offered at testing centers
Statement of the Terms of the Substance
mstockstill on DSK4VPTVN1PROD with NOTICES

Expedited Package Services—Non- through January 4, 2016. Pursuant to the
of the Proposed Rule Change
Published Rates
C2 Options Exchange, Incorporated 3 See Securities Exchange Act Release No. 75581

AGENCY: Postal Service TM. (the ‘‘Exchange’’ or ‘‘C2’’) proposes to (July 31, 2015), 80 FR 47018 (August 6, 2015)
(Order Approving a Proposed Rule Change to
ACTION: Notice. amend the Fees Schedule. The text of Provide a Web-based Delivery Method for
Completing the Regulatory Element of the
SUMMARY: The Postal Service gives 1 15 U.S.C. 78s(b)(1). Continuing Education Requirements) (SR–FINRA–
notice of filing a request with the Postal 2 17 CFR 240.19b–4. 2015–015).

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63594 Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices

Approval Order to SR–FINRA–2015– processing information with respect to, Accordingly, the Exchange further
015, the fee for test-center delivery of and facilitating transactions in believes that the proposed rule change
the Regulatory Element of the S106, securities, to remove impediments to will relieve burdens on, and otherwise
S201, and S901 Continuing Education and perfect the mechanism of a free and promote competition.
Programs will continue to be $100 per open market and a national market
C. Self-Regulatory Organization’s
session through January 4, 2016 when system, and, in general, to protect
the programs will no longer be offered investors and the public interest. Statement on Comments on the
at testing centers. The fee for Web-based Additionally, the Exchange believes the Proposed Rule Change Received From
delivery of the Regulatory Elements of proposed rule change is consistent with Members, Participants, or Others
the S106, S201, and S901 Continuing the Section 6(b)(5) 7 requirement that The Exchange neither solicited nor
Education Programs, however, will be the rules of an exchange not be designed received written comments on the
$55. to permit unfair discrimination between proposed rule change.
The Exchange currently utilizes customers, issuers, brokers, or dealers.
III. Date of Effectiveness of the
FINRA’s Continuing Education In particular, the Web-based delivery
method for continuing education is in Proposed Rule Change and Timing for
Programs for its own continuing
the interest of investors and free and Commission Action
education requirements. Consistent with
SR–FINRA–2015–015, the Exchange open markets. In general, Web-based The foregoing rule change has become
[sic] recently filed SR–CBOE–2015– delivery will remove time parameters effective pursuant to Section 19(b)(3)(A)
084 4 relating to continuing education. that exist with respect to taking of the Act 8 and paragraph (f) of Rule
In that filing, the Exchange [sic] continuing education at testing centers. 19b–4 9 thereunder. At any time within
proposed to follow the changes set forth Having additional time to take 60 days of the filing of the proposed rule
in SR–FINRA–2015–015 with respect to continuing education may result in change, the Commission summarily may
Web-based delivery of the Regulatory better learning outcomes, which should temporarily suspend such rule change if
Element of the Continuing Education enhance investor protection. In it appears to the Commission that such
Programs for the S106 for Investment addition, the option to have Web-based action is necessary or appropriate in the
Company and Variable Contracts delivery of the Regulatory Element of public interest, for the protection of
Representatives, the S201 for registered the S106, S201, and S901 Continuing investors, or otherwise in furtherance of
principles and supervisors, and the Education Programs at a reduced cost the purposes of the Act. If the
S901 for Operations Professionals. lowers barriers to entry and removes Commission takes such action, the
Consistent with SR–CBOE–2015–084, impediments to a free and open market Commission will institute proceedings
this proposed rule change, proposes to and national market system by making to determine whether the proposed rule
amend the Fees Schedule to provide it easier and less costly for Trading change should be approved or
that effective immediately, the fee for Permit Holders to participate in the disapproved.
Web-based delivery of the Regulatory market. Accordingly, the Exchange
believes that Web-based delivery of the IV. Solicitation of Comments
Elements of the S106, S201, and S901
Continuing Education Programs will be Regulatory Element of the S106, S201, Interested persons are invited to
$55. The fee test-center delivery of the and S901 Continuing Education submit written data, views, and
Regulatory Element of the S106, S201, Programs and reducing the costs of arguments concerning the foregoing,
and S901 Continuing Education continuing education in general are including whether the proposed rule
Programs will continue to be $100 per goals that are consistent with the Act. change is consistent with the Act.
session through January 4, 2016 when Comments may be submitted by any of
B. Self-Regulatory Organization’s
the programs will no longer be offered the following methods:
Statement on Burden on Competition
at testing centers. At that time, the Electronic Comments
The Exchange does not believe that
Exchange will file another fee filing to
remove the test center option for
the proposed rule change will impose • Use the Commission’s Internet
any burden on competition that is not comment form (http://www.sec.gov/
delivery of the Regulatory Element from
necessary or appropriate in furtherance rules/sro.shtml); or
the Fees Schedule. of the purposes of the Act. As FINRA • Send an email to rule-comments@
2. Statutory Basis has stated, the proposed rule change is sec.gov. Please include File Number SR–
The Exchange believes the proposed specifically intended to reduce the C2–2015–024 on the subject line.
rule change is consistent with the Act burdens of continuing education on
market participants while preserving the Paper Comments
and the rules and regulations
thereunder applicable to the Exchange integrity of the S106, S201, and S901 • Send paper comments in triplicate
and, in particular, the requirements of Continuing Education Programs. In to Secretary, Securities and Exchange
Section 6(b) of the Act.5 Specifically, general, reduction in cost and removal Commission, 100 F Street NE.,
of barriers to entry encourages Washington, DC 20549–1090.
the Exchange believes the proposed rule
change is consistent with the Section competition among market participants, All submissions should refer to File
6(b)(5) 6 requirements that the rules of particularly in situations where such Number SR–C2–2015–024. This file
an exchange be designed to prevent rules are employed universally across number should be included on the
fraudulent and manipulative acts and the markets. By bringing the Exchange’s subject line if email is used. To help the
practices, to promote just and equitable fees structure in line with that of Commission process and review your
mstockstill on DSK4VPTVN1PROD with NOTICES

principles of trade, to foster cooperation FINRA, the Exchange believes it is comments more efficiently, please use
and coordination with persons engaged removing impediments to free and open only one method. The Commission will
in regulating, clearing, settling, markets and encouraging competition post all comments on the Commission’s
between the Exchange and other Internet Web site (http://www.sec.gov/
4 Available at http://www.cboe.com/publish/Rule markets that use the S106, S201, and rules/sro.shtml). Copies of the
FilingsSEC/SR-CBOE-2015-084.pdf. S901 Continuing Education Programs.
5 15 U.S.C. 78f(b). 8 15 U.S.C. 78s(b)(3)(A).
6 15 U.S.C. 78f(b)(5). 7 Id. 9 17 CFR 240.19b–4(f).

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Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices 63595

submission, all subsequent by the MSRB. The Commission is A. Self-Regulatory Organization’s
amendments, all written statements publishing this notice to solicit Statement of the Purpose of, and
with respect to the proposed rule comments on the proposed rule change Statutory Basis for, the Proposed Rule
change that are filed with the from interested persons. Change
Commission, and all written
I. Self-Regulatory Organization’s 1. Purpose
communications relating to the
proposed rule change between the Statement of the Terms of Substance of Background
Commission and any person, other than the Proposed Rule Change The MSRB has established a
those that may be withheld from the professional qualifications program that
public in accordance with the The MSRB filed with the Commission
proposed amendments to Rule G–3(i)(i), establishes competency standards for
provisions of 5 U.S.C. 552, will be municipal securities brokers and
available for Web site viewing and Continuing Education Requirements,
municipal securities dealers
printing in the Commission’s Public Regulatory Element, to facilitate the
(collectively, ‘‘dealers’’) and their
Reference Room, 100 F Street NE., Web-based delivery method for meeting
associated persons. Section 15B(b)(2)(A)
Washington, DC 20549 on official the requirements of Rule G–3(i)(i) (the of the Act provides that the rules of the
business days between the hours of ‘‘proposed rule change’’). The proposed MSRB shall require associated persons
10:00 a.m. and 3:00 p.m. Copies of such rule change, which is based on of dealers to meet such standards of
filing also will be available for Financial Industry Regulatory Authority training, experience, competence, and
inspection and copying at the principal (‘‘FINRA’’) Rule 1250, has been filed for such other qualifications as the MSRB
offices of the Exchange. All comments immediate effectiveness.3 In order to finds necessary or appropriate in the
received will be posted without change; align the MSRB’s implementation for public interest or for the protection of
the Commission does not edit personal Web-based delivery of the Regulatory investors and municipal entities or
identifying information from Element with FINRA’s, which begins on obligated persons.4 The purpose of the
submissions. You should submit only October 1, 2015, the MSRB requests that continuing education requirements (‘‘CE
information that you wish to make the Commission waive the 30 day requirements’’) is to keep registered
available publicly. All submissions operative requirement under Rule 19b– persons of dealers informed of issues
should refer to File Number SR–C2– 4(f)(6) and the proposed rule change that affect their job responsibilities and
2015–024, and should be submitted on of product and regulatory
become operative on October 1, 2015.
or before November 10, 2015. developments. MSRB Rule G–3(i) sets
The proposed rule change is not making
For the Commission, by the Division of any changes to the Firm Element forth a two-pronged approach for CE
Trading and Markets, pursuant to delegated requirements consisting of a Regulatory
authority.10
component of the Continuing Education
Requirements (Rule G–3(i)(ii)). Element and a Firm Element; the
Robert W. Errett, proposed rule change would amend
Deputy Secretary. The text of the proposed rule change only the Regulatory Element.
[FR Doc. 2015–26521 Filed 10–19–15; 8:45 am] is available on the MSRB’s Web site at The requirements for compliance with
BILLING CODE 8011–01–P
www.msrb.org/Rules-and- the Regulatory Element component of
Interpretations/SEC-Filings/2015- the MSRB’s CE requirements are
Filings.aspx, at the MSRB’s principal identical to the requirements for the
SECURITIES AND EXCHANGE office, and at the Commission’s Public Regulatory Element component of
COMMISSION Reference Room. FINRA’s CE requirements. Both the
[Release No. 34–76146; File No. SR–MSRB– MSRB and FINRA require certain
II. Self-Regulatory Organization’s
2015–11] registered persons,5 subsequent to their
Statement of the Purpose of, and
initial qualification and registration
Self-Regulatory Organizations; Statutory Basis for, the Proposed Rule with a registered securities association,
Municipal Securities Rulemaking Change to complete a periodic computer-based
Board; Notice of Filing and Immediate In its filing with the Commission, the training program within 120 days of the
Effectiveness of a Proposed Rule MSRB included statements concerning second anniversary of their registration
Change To Provide a Web-Based approval dates and every three years
the purpose of and basis for the
Delivery Method for Completing the thereafter. The computer-based training
Regulatory Element of the Continuing proposed rule change and discussed any
program is developed by the Securities
Education Requirements Pursuant to comments it received on the proposed
Industry Regulatory Council on
Rule G–3(i)(i) rule change. The text of these statements
Continuing Education (‘‘CE Council’’),
may be examined at the places specified of which both the MSRB and FINRA are
October 14, 2015. in Item IV below. The MSRB has members.6 The training developed by
Pursuant to Section 19(b)(1) of the prepared summaries, set forth in the CE Council is focused on
Securities Exchange Act of 1934 (the Sections A, B, and C below, of the most compliance, regulatory, ethical and
‘‘Act’’ or ‘‘Exchange Act’’) 1 and Rule significant aspects of such statements.
19b–4 thereunder,2 notice is hereby sales practice standards. The Regulatory
given that on September 29, 2015, the Element’s content is derived from
3 See Securities Exchange Act Release No. 58092
Municipal Securities Rulemaking Board (July 3, 2008), 73 FR 40144 (July 11, 2008): The 4 15 U.S.C. 78o–4(b)(2)(A).
(the ‘‘MSRB’’ or ‘‘Board’’) filed with the Commission believes that a proposed rule change 5 The MSRB defines a registered person as any
mstockstill on DSK4VPTVN1PROD with NOTICES

Securities and Exchange Commission appropriately may be filed as an immediately individual associated with a dealer maintaining a
(‘‘Commission’’) the proposed rule effective rule so long as it is based on and similar registration category pursuant to MSRB Rule G–3.
to another SRO’s rule and each policy issue raised
change as described in Items I and II 6 The CE Council is composed of up to 20
by the proposed rule (i) has been considered industry members from broker-dealers, representing
below, which Items have been prepared previously by the Commission when the a broad cross section of industry firms, and
Commission approved another exchange’s rule (that representatives from the MSRB and other SROs as
10 17 CFR 200.30–3(a)(12). was subject to notice and comment), and (ii) the well as liaisons from the SEC and the North
1 15 U.S.C. 78s(b)(1). rule change resolves such policy issue in a manner American Securities Administrators Association.
2 17 CFR 240.19b–4. consistent with such prior approval. See http://www.cecouncil.com.

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Document Created: 2015-12-14 15:25:18
Document Modified: 2015-12-14 15:25:18

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 63593