80 FR 66072 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Revisions to the Registered Options Principal Examination
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 208 (October 28, 2015)
Federal Register Volume 80, Issue 208 (October 28, 2015)
| Page Range | 66072-66074 | |
| FR Document | 2015-27355 |
[Federal Register Volume 80, Number 208 (Wednesday, October 28, 2015)] [Notices] [Pages 66072-66074] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27355] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76235; File No. SR-CBOE-2015-095] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Revisions to the Registered Options Principal Examination October 22, 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 16, 2015, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') 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 CBOE. CBOE has designated the proposed rule change as ``constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule'' under Section 19(b)(3)(A)(i) of the Act \3\ and Rule19b-4(f)(1) thereunder,\4\ which renders the proposal effective upon receipt of this filing by 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)(i). \4\ 17 CFR 240.19b-4(f)(1). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change CBOE is filing revisions to the content outline and selection specifications for the Registered Options Principal (Series 4) examination program.\5\ The proposed revisions update the material to reflect changes to the laws, rules and regulations covered by the examination and to incorporate the functions and associated tasks currently performed by a Registered Options Principal. In addition, CBOE is proposing to make changes to the format of the content outline. CBOE is not proposing any textual changes to the By-Laws, Schedules to the By-Laws or Rules of CBOE. CBOE is proposing these revisions to adopt the revised Series 4 examination program of the Financial Industry Regulatory Authority, Inc. (``FINRA''). FINRA currently administers Series 4 examinations on behalf of CBOE. --------------------------------------------------------------------------- \5\ CBOE is also proposing corresponding revisions to the Series 4 question bank. CBOE is submitting this filing for immediate effectiveness pursuant to Section 19(b)(3)(A) of the act and Rule 19b-4(f)(1) thereunder. --------------------------------------------------------------------------- The revised content outline is attached.\6\ The Series 4 selection specifications were submitted to the Commission under separate cover by FINRA. FINRA submitted the Series 4 selection specifications in connection with a FINRA filing to revise its Series 4 Examination Program.\7\ CBOE is in agreement with the selection specifications submitted by FINRA. --------------------------------------------------------------------------- \6\ The Commission notes that the revised content outline is attached to the filing, not to this Notice. The content outline is available as part of the filing on CBOE's Web site. \7\ See Securities Exchange Act Release No. 75246 (June 18, 2015), 80 FR 36388 (June 24, 2015) (SR-FINRA-2015-018). --------------------------------------------------------------------------- The text of the [sic] proposed rule change is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), 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 Section 6(c)(3) of the Act \8\ authorizes CBOE to prescribe standards of training, experience, and competence for persons associated with CBOE Trading Permit Holders (``TPH''). In accordance with that provision, CBOE has developed examinations that are designed to establish that persons associated with CBOE TPHs have attained specified levels of competence and knowledge, consistent with applicable registration requirements under CBOE rules. CBOE periodically reviews the content of the examinations to determine whether revisions are necessary or appropriate in view of changes pertaining to the subject matter covered by the examinations. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(c)(3). --------------------------------------------------------------------------- CBOE Rule 9.2 states that no TPH organization shall be approved to transact options business with the public until those persons associated with it who are designated as Options Principals have been approved by and registered with the Exchange. Rule 9.2 states that persons engaged in the supervision of options sales practices or a person to who the designated general partner or executive officer or another Registered Options Principal delegates the authority to supervise options sales practices shall be designated as Options Principals. CBOE Rule 9.2 further requires successful completion of an examination prescribed by the Exchange in order to qualify for registration as an Options Principal. The Series 4 examination, an industry-wide examination, has been designed for this purpose, and tests a candidate's knowledge of options trading generally, the industry rules applicable to trading of option contracts, and the rules of registered clearing agencies for options. The Series 4 examination covers, among other things, equity options, foreign currency options, and index options. In consultation with a committee of industry representatives, including representatives from CBOE, FINRA recently undertook a review of the Series 4 examination program. As a result of this review, FINRA filed revisions to the content outline to reflect changes to the laws, rules and regulations covered by the examination and to incorporate the functions and associated tasks currently performed by a Registered Options Principal. FINRA also made changes to the format of the content outline.\9\ CBOE is filing these changes to adopt FINRA's revised Series 4 examination program. --------------------------------------------------------------------------- \9\ See Securities Exchange Act Release No. 75246 (June 18, 2015), 80 FR 36388 (June 24, 2015) (SR-FINRA-2015-018). --------------------------------------------------------------------------- Current Content Outline The current content outline is divided into three sections. The following are the three sections and the number of questions associated with each of the [[Page 66073]] sections, denoted Section 1 through Section 3: 1. Options Investment Strategies, 34 questions; 2. Supervision of Sales Activities and Trading Practices, 75 questions; and 3. Supervision of Employees, Business Conduct, and Recordkeeping and Reporting Requirements, 16 questions. Each section also includes the applicable laws, rules and regulations associated with that section. The current content outline also includes a preface (addressing, among other things, the purpose, administration and scoring of the examination), sample questions and reference materials. Proposed Revisions CBOE is proposing to divide the content outline into six major job functions that are performed by a Registered Options Principal. The following are the six major job functions, denoted Function 1 through Function 6, with the associated number of questions: Function 1: Supervise the Opening of New Options Accounts, 21 questions; Function 2: Supervise Options Account Activities, 25 questions; Function 3: Supervise General Options Trading, 30 questions; Function 4: Supervise Options Communications, 9 questions; Function 5: Implement Practices and Adhere to Regulatory Requirements, 12 questions; and Function 6: Supervise Associated Persons and Personnel Management Activities, 28 questions. CBOE is proposing to adjust the number of questions assigned to each major job function to ensure that the overall examination better reflects the key tasks performed by a Registered Options Principal. The questions on the revised Series 4 examination will place greater emphasis on key tasks such as supervision of registered persons, sales practices and compliance. Each function also includes specific tasks describing activities associated with performing that function. There are four tasks (1.1- 1.4) associated with Function 1; four tasks (2.1-2.4) associated with Function 2; four tasks (3.1-3.4) associated with Function 3; four tasks (4.1-4.4) associated with Function 4; two tasks (5.1-5.2) associated with Function 5; and four tasks (6.1-6.4) associated with Function 6.\10\ By way of example, one such task (Task 4.2) is review options retail communications and determine appropriate approval.\11\ Further, the content outline lists the knowledge required to perform each function and associated tasks (e.g., types of retail communications, required approvals).\12\ In addition, where applicable, the content outline lists the laws, rules and regulations a candidate is expected to know to perform each function and associated tasks. These include the applicable FINRA Rules (e.g. FINRA Rule 2220), NASD Rules (e.g., NASD Rule 2711(i)), CBOE Rules (e.g., CBOE Rule 9.21) and SEC rules (e.g., SEA Rule 135a).\13\ FINRA conducted a job analysis study of Registered Options Principals, which included the use of a survey, in developing each function and associated tasks and updating the required knowledge set forth in the revised content outline. The functions and associated tasks, which appear in the revised content outline for the first time, reflect the day-to-day activities of a Registered Options Principal. --------------------------------------------------------------------------- \10\ See Exhibit 3, Outline Pages 6-22. The Commission notes that Exhibit 3 is an exhibit to the filing, not to this Notice. \11\ See Exhibit 3, Outline Page 15. \12\ See Exhibit 3, Outline Page 15. \13\ See Exhibit 3, Outline Page 15. --------------------------------------------------------------------------- As noted above, CBOE also is proposing to revise the content outline to reflect changes to the laws, rules and regulations covered by the examination. Among other revisions, CBOE is proposing to revise the content outline to reflect the adoption of rules in the CBOE rulebook (for example CBOE Rule 3.6 (Persons Associated with TPH Organizations; CBOE Rule 4.24 (Supervision); CBOE Rule 6.25 (Nullification and Adjustment of Options Transactions including Obvious Errors) and CBOE Rule 12.4 (Portfolio Margin) CBOE is proposing similar changes to the Series 4 selection specifications and question bank. Finally, CBOE is proposing to make changes to the format of the content outline, including the preface, sample questions and reference materials. Among other changes, CBOE is proposing to: (1) Add a table of contents; \14\ (2) provide more details regarding the purpose of the examination; \15\ (3) provide more details on the application procedures; \16\ (4) provide more details on the development and maintenance of the content outline and examination; \17\ (5) explain that the passing scores are established by FINRA staff, in consultation with a committee of industry representatives, using a standard setting procedure, and that a statistical adjustment process known as equating is used in scoring exams; \18\ and (6) note that each candidate will receive a score report at the end of the test session, which will indicate a pass or fail status and include a score profile listing the candidate's performance on each major content area covered on the examination.\19\ --------------------------------------------------------------------------- \14\ See Exhibit 3, Outline Page 2. \15\ See Exhibit 3, Outline Page 3. \16\ See Exhibit 3, Outline Page 3. \17\ See Exhibit 3, Outline Page 4. \18\ See Exhibit 3, Outline Page 5. \19\ See Exhibit 3, Outline Page 5. --------------------------------------------------------------------------- The number of questions on the Series 4 examination will remain at 125 multiple-choice questions,\20\ and candidates will have 195 minutes to complete the examination. The test time will change from 180 minutes to 195 minutes because pretest items increased from 5 items to 10 items. Currently, a score of 70 percent is required to pass the examination. The passing score will change to 72 percent with the revised Series 4 examination program. --------------------------------------------------------------------------- \20\ Consistent with FINRA's practice of including ``pretest'' items on certain qualification examinations, which is designed to ensure that new examination items meet acceptable testing standards prior to use for scoring purposes, the examination includes 10 additional, unidentified pretest items that do not contribute towards the candidate's score. Therefore, the examination actually consists of 135 items, 125 of which are scored. The 10 pretest items are randomly distributed throughout the examination. --------------------------------------------------------------------------- Availability of Content Outline The revised Series 4 content outline is available on FINRA's Web site, at www.finra.org/brokerqualifications/exams. CBOE is filing the proposed rule change for immediate effectiveness. CBOE will announce the proposed rule change in a Regulatory Circular. 2. Statutory Basis CBOE believes that the proposed revisions to the Series 4 examination program are consistent with the provisions of Section 6(b)(5) of the Act,\21\ which requires, among other things, that CBOE rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest, and Section 6(c)(3) of the Act,\22\ which authorizes CBOE to prescribe standards of training, experience, and competence for persons associated with CBOE TPHs. CBOE believes that the proposed revisions will further these purposes by updating the examination program to reflect changes to the laws, rules and regulations covered by the examination and to incorporate the functions and [[Page 66074]] associated tasks currently performed by a Registered Options Principal. --------------------------------------------------------------------------- \21\ 15 U.S.C. 78f(b)(5). \22\ 15 U.S.C. 78f(c)(3). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition CBOE does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The updated examination aligns with the functions and associated tasks currently performed by a Registered Options Principal and tests knowledge of the most current laws, rules, regulations and skills relevant to those functions and associated tasks. As such, the proposed revisions would make the examination more efficient and effective. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. 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 \23\ and paragraph (f)(1) of Rule 19b-4 thereunder.\24\ 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. --------------------------------------------------------------------------- \23\ 15 U.S.C. 78s(b)(3)(A). \24\ 17 CFR 240.19b-4(f)(1). --------------------------------------------------------------------------- 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-CBOE-2015-095 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-CBOE-2015-095. 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 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-CBOE-2015-095 and should be submitted on or before November 18, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\25\ --------------------------------------------------------------------------- \25\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-27355 Filed 10-27-15; 8:45 am] BILLING CODE 8011-01-P
![66072 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices
For the Commission, by the Division of and to incorporate the functions and that provision, CBOE has developed
Trading and Markets, pursuant to delegated associated tasks currently performed by examinations that are designed to
authority.16 a Registered Options Principal. In establish that persons associated with
Brent J. Fields, addition, CBOE is proposing to make CBOE TPHs have attained specified
Secretary. changes to the format of the content levels of competence and knowledge,
[FR Doc. 2015–27351 Filed 10–27–15; 8:45 am] outline. CBOE is not proposing any consistent with applicable registration
BILLING CODE 8011–01–P textual changes to the By-Laws, requirements under CBOE rules. CBOE
Schedules to the By-Laws or Rules of periodically reviews the content of the
CBOE. CBOE is proposing these examinations to determine whether
SECURITIES AND EXCHANGE revisions to adopt the revised Series 4 revisions are necessary or appropriate in
COMMISSION examination program of the Financial view of changes pertaining to the
Industry Regulatory Authority, Inc. subject matter covered by the
[Release No. 34–76235; File No. SR–CBOE–
2015–095] (‘‘FINRA’’). FINRA currently examinations.
administers Series 4 examinations on CBOE Rule 9.2 states that no TPH
Self-Regulatory Organizations; behalf of CBOE. organization shall be approved to
Chicago Board Options Exchange, The revised content outline is transact options business with the
Incorporated; Notice of Filing and attached.6 The Series 4 selection public until those persons associated
Immediate Effectiveness of a Proposed specifications were submitted to the with it who are designated as Options
Rule Change Relating to Revisions to Commission under separate cover by Principals have been approved by and
the Registered Options Principal FINRA. FINRA submitted the Series 4
registered with the Exchange. Rule 9.2
Examination selection specifications in connection
states that persons engaged in the
with a FINRA filing to revise its Series
supervision of options sales practices or
October 22, 2015. 4 Examination Program.7 CBOE is in
a person to who the designated general
Pursuant to Section 19(b)(1) of the agreement with the selection
partner or executive officer or another
Securities Exchange Act of 1934 (the specifications submitted by FINRA.
The text of the [sic] proposed rule Registered Options Principal delegates
‘‘Act’’),1 and Rule 19b–4 thereunder,2
change is available on the Exchange’s the authority to supervise options sales
notice is hereby given that on October
Web site (http://www.cboe.com/ practices shall be designated as Options
16, 2015, Chicago Board Options
AboutCBOE/ Principals. CBOE Rule 9.2 further
Exchange, Incorporated (the ‘‘Exchange’’
CBOELegalRegulatoryHome.aspx), at requires successful completion of an
or ‘‘CBOE’’) filed with the Securities
the Exchange’s Office of the Secretary, examination prescribed by the Exchange
and Exchange Commission (the
and at the Commission’s Public in order to qualify for registration as an
‘‘Commission’’) the proposed rule
Reference Room. Options Principal. The Series 4
change as described in Items I, II, and
examination, an industry-wide
III below, which Items have been II. Self-Regulatory Organization’s examination, has been designed for this
prepared by the CBOE. CBOE has Statement of the Purpose of, and purpose, and tests a candidate’s
designated the proposed rule change as Statutory Basis for, the Proposed Rule knowledge of options trading generally,
‘‘constituting a stated policy, practice, Change the industry rules applicable to trading
or interpretation with respect to the
In its filing with the Commission, the of option contracts, and the rules of
meaning, administration, or
Exchange included statements registered clearing agencies for options.
enforcement of an existing rule’’ under
concerning the purpose of and basis for The Series 4 examination covers, among
Section 19(b)(3)(A)(i) of the Act 3 and
the proposed rule change and discussed other things, equity options, foreign
Rule19b–4(f)(1) thereunder,4 which
any comments it received on the currency options, and index options.
renders the proposal effective upon
proposed rule change. The text of these In consultation with a committee of
receipt of this filing by the Commission.
statements may be examined at the industry representatives, including
The Commission is publishing this
places specified in Item IV below. The representatives from CBOE, FINRA
notice to solicit comments on the
Exchange has prepared summaries, set recently undertook a review of the
proposed rule change from interested
forth in sections A, B, and C below, of Series 4 examination program. As a
persons.
the most significant aspects of such result of this review, FINRA filed
I. Self-Regulatory Organization’s statements. revisions to the content outline to reflect
Statement of the Terms of Substance of changes to the laws, rules and
A. Self-Regulatory Organization’s
the Proposed Rule Change regulations covered by the examination
Statement of the Purpose of, and
CBOE is filing revisions to the content Statutory Basis for, the Proposed Rule and to incorporate the functions and
outline and selection specifications for Change associated tasks currently performed by
the Registered Options Principal (Series a Registered Options Principal. FINRA
4) examination program.5 The proposed 1. Purpose also made changes to the format of the
revisions update the material to reflect Section 6(c)(3) of the Act 8 authorizes content outline.9 CBOE is filing these
changes to the laws, rules and CBOE to prescribe standards of training, changes to adopt FINRA’s revised Series
regulations covered by the examination experience, and competence for persons 4 examination program.
associated with CBOE Trading Permit
Current Content Outline
16 17 CFR 200.30–3(a)(12). Holders (‘‘TPH’’). In accordance with
mstockstill on DSK4VPTVN1PROD with NOTICES
1 15 U.S.C. 78s(b)(1). The current content outline is divided
2 17 CFR 240.19b–4. 6 The Commission notes that the revised content into three sections. The following are
3 15 U.S.C. 78s(b)(3)(A)(i). outline is attached to the filing, not to this Notice. the three sections and the number of
4 17 CFR 240.19b–4(f)(1). The content outline is available as part of the filing
5 CBOE is also proposing corresponding revisions on CBOE’s Web site. questions associated with each of the
7 See Securities Exchange Act Release No. 75246
to the Series 4 question bank. CBOE is submitting
this filing for immediate effectiveness pursuant to (June 18, 2015), 80 FR 36388 (June 24, 2015) (SR– 9 See Securities Exchange Act Release No. 75246
Section 19(b)(3)(A) of the act and Rule 19b–4(f)(1) FINRA–2015–018). (June 18, 2015), 80 FR 36388 (June 24, 2015) (SR–
thereunder. 8 15 U.S.C. 78f(c)(3). FINRA–2015–018).
VerDate Sep<11>2014 19:16 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 E:\FR\FM\28OCN1.SGM 28OCN1](https://thefederalregister.org/doc/80_FR_66280/page/1.svg)
![66074 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices
associated tasks currently performed by Paper Comments Investment Company Act of 1940 (the
a Registered Options Principal. • Send paper comments in triplicate ‘‘Act’’) for an exemption from sections
to Secretary, Securities and Exchange 2(a)(32), 5(a)(1), 22(d), and 22(e) of the
B. Self-Regulatory Organization’s
Commission, 100 F Street NE., Act and rule 22c–1 under the Act, under
Statement on Burden on Competition
Washington, DC 20549–1090. sections 6(c) and 17(b) of the Act for an
CBOE does not believe that the exemption from sections 17(a)(1) and
All submissions should refer to File
proposed rule change will result in any 17(a)(2) of the Act, and under section
Number SR–CBOE–2015–095. This file
burden on competition that is not 12(d)(1)(J) for an exemption from
number should be included on the
necessary or appropriate in furtherance sections 12(d)(1)(A) and 12(d)(1)(B) of
subject line if email is used. To help the
of the purposes of the Act. The updated the Act.
Commission process and review your
examination aligns with the functions
comments more efficiently, please use
and associated tasks currently SUMMARY OF APPLICATION: Applicants
only one method. The Commission will
performed by a Registered Options request an order that would permit (a)
post all comments on the Commission’s
Principal and tests knowledge of the series of certain open-end management
Internet Web site (http://www.sec.gov/
most current laws, rules, regulations rules/sro.shtml). Copies of the investment companies to issue shares
and skills relevant to those functions submission, all subsequent (‘‘Shares’’) redeemable in large
and associated tasks. As such, the amendments, all written statements aggregations only (‘‘Creation Units’’); (b)
proposed revisions would make the with respect to the proposed rule secondary market transactions in Shares
examination more efficient and change that are filed with the to occur at negotiated market prices
effective. Commission, and all written rather than at net asset value (‘‘NAV’’);
C. Self-Regulatory Organization’s communications relating to the (c) certain series to pay redemption
Statement on Comments on the proposed rule change between the proceeds, under certain circumstances,
Proposed Rule Change Received From Commission and any person, other than more than seven days after the tender of
Members, Participants, or Others those that may be withheld from the Shares for redemption; (d) certain
public in accordance with the affiliated persons of the series to deposit
Written comments were neither securities into, and receive securities
provisions of 5 U.S.C. 552, will be
solicited nor received. from, the series in connection with the
available for Web site viewing and
III. Date of Effectiveness of the printing in the Commission’s Public purchase and redemption of Creation
Proposed Rule Change and Timing for Reference Room, 100 F Street NE., Units; and (e) certain registered
Commission Action Washington, DC 20549 on official management investment companies and
business days between the hours of 10 unit investment trusts (‘‘UITs’’) outside
The foregoing rule change has become of the same group of investment
effective pursuant to Section 19(b)(3)(A) a.m. and 3 p.m. Copies of the filing also
will be available for inspection and companies as the Underlying Funds
of the Act 23 and paragraph (f)(1) of Rule (defined below) to acquire shares of the
19b–4 thereunder.24 At any time within copying at the principal office of the
Exchange. All comments received will Underlying Funds.
60 days of the filing of the proposed rule
change, the Commission summarily may be posted without change; the APPLICANTS: Good Hill ETF Trust (the
temporarily suspend such rule change if Commission does not edit personal ‘‘Trust’’) and Good Hill Partners LP (the
it appears to the Commission that such identifying information from ‘‘Initial Adviser’’).
action is necessary or appropriate in the submissions. You should submit only FILING DATES: The application was filed
public interest, for the protection of information that you wish to make on June 30, 2015 and amended on
investors, or otherwise in furtherance of available publicly. All submissions October 16, 2015.
the purposes of the Act. If the should refer to File Number SR–CBOE–
2015–095 and should be submitted on HEARING OR NOTIFICATION OF HEARING: An
Commission takes such action, the order granting the application will be
Commission will institute proceedings or before November 18, 2015.
issued unless the Commission orders a
to determine whether the proposed rule For the Commission, by the Division of hearing. Interested persons may request
change should be approved or Trading and Markets, pursuant to delegated
authority.25 a hearing by writing to the
disapproved. Commission’s Secretary and serving
Brent J. Fields,
IV. Solicitation of Comments applicants with a copy of the request,
Secretary.
personally or by mail. Hearing requests
Interested persons are invited to [FR Doc. 2015–27355 Filed 10–27–15; 8:45 am]
should be received by the Commission
submit written data, views, and BILLING CODE 8011–01–P by 5:30 p.m. on November 16, 2015 and
arguments concerning the foregoing, should be accompanied by proof of
including whether the proposed rule service on the applicants, in the form of
change is consistent with the Act. SECURITIES AND EXCHANGE
an affidavit or for lawyers, a certificate
Comments may be submitted by any of COMMISSION
of service. Pursuant to rule 0–5 under
the following methods: [Investment Company Act Release No. the Act, hearing requests should state
Electronic Comments 31878; File No. 812–14506] the nature of the writer’s interest, any
facts bearing upon the desirability of a
• Use the Commission’s Internet Good Hill Partners LP and Good Hill hearing on the matter, the reason for the
comment form (http://www.sec.gov/ ETF Trust; Notice of Application request, and the issues contested.
mstockstill on DSK4VPTVN1PROD with NOTICES
rules/sro.shtml); or
• Send an email to rule- October 22, 2015. Persons who wish to be notified of a
comments@sec.gov. Please include File AGENCY: Securities and Exchange hearing may request notification by
Number SR–CBOE–2015–095 on the Commission (‘‘Commission’’). writing to the Commission’s Secretary.
subject line. ACTION: Notice of an application for an ADDRESSES: Secretary, Securities and
order under section 6(c) of the Exchange Commission, 100 F Street NE.,
23 15 U.S.C. 78s(b)(3)(A). Washington, DC 20549–1090;
24 17 CFR 240.19b–4(f)(1). 25 17 CFR 200.30–3(a)(12). Applicants, Good Hill Partners LP, 1599
VerDate Sep<11>2014 19:16 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 E:\FR\FM\28OCN1.SGM 28OCN1](https://thefederalregister.org/doc/80_FR_66280/page/3.svg)
Document Created: 2018-02-27 08:58:05
Document Modified: 2018-02-27 08:58:05
| 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 66072 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR