80 FR 76333 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 132-Equities To Delete Supplementary Material .40 Requiring Members Effecting Transactions on the Equities Trading Floor to Submit Certain Data Elements and Badge Information and to Make a Conforming Change
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 235 (December 8, 2015)
Federal Register Volume 80, Issue 235 (December 8, 2015)
| Page Range | 76333-76335 | |
| FR Document | 2015-30837 |
[Federal Register Volume 80, Number 235 (Tuesday, December 8, 2015)] [Notices] [Pages 76333-76335] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-30837] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76540; File No. SR-NYSEMKT-2015-97] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 132-- Equities To Delete Supplementary Material .40 Requiring Members Effecting Transactions on the Equities Trading Floor to Submit Certain Data Elements and Badge Information and to Make a Conforming Change December 2, 2015. Pursuant to section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on November 20, 2015, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') 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 self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 132--Equities to delete Supplementary Material .40 requiring members effecting transactions on the equities trading Floor (the ``Trading Floor'') to submit certain data elements and badge information and to make a conforming change. The proposed rule change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization 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 those 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Rule 132--Equities (``Rule 132'') to delete Supplementary Material .40, which requires members to submit certain data elements and badge information for transactions effected on the Trading Floor and to make a conforming change. Rule 132 requires clearing member organizations submitting a transaction to comparison to include the audit trail data elements set forth in Supplementary Material .30, including a specification of the account type for which the transaction was effected according to defined account categories. Consistent with this requirement, Supplementary Material .40 requires members \4\ effecting transactions on the Trading Floor as agent or otherwise to supply these audit trail data elements to their clearing member organization and to promptly provide the reporter in the Crowd (or other designated Exchange representative) with the member's broker badge number or alpha symbol. --------------------------------------------------------------------------- \4\ Under Rule 2(a), a member is a natural person associated with a member organization and in the context of Rule 132.40, refers to Floor brokers only. --------------------------------------------------------------------------- The Exchange proposes to delete Rule 132.40 as obsolete. Rule 132.40 was [[Page 76334]] adopted at a time when manual transactions on the Trading Floor were recorded on paper order tickets. The rule was designed to improve trade documentation and ensure that broker badge information was captured correctly for Crowd trades (i.e., verbal executions between two Floor brokers or between a Floor broker and a specialist). Currently, however, all information regarding transactions at the Exchange, including the audit trail data elements of Rule 132.30 and badge information for manual transactions, is captured and transmitted electronically by Exchange systems. Because these data elements no longer need to be separately submitted by members, Rule 132.40 is obsolete and therefore can be deleted. The Exchange also proposes to amend Rule 476A, which sets forth the list of rules under which a member organization or covered person may be subject to a fine in lieu of the Exchange commencing a disciplinary proceeding under Rule 476. Rule 476A permits a summary fine for failures to collect and/or submit all audit trail data specified in Rule 132. The Exchange proposes to delete the clause ``and/or submit'' to reflect elimination of the submission requirement set forth in Supplementary Material .40 of Rule 132. The Exchange believes this proposed change will add transparency and clarity to the Exchange's rules. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act,\5\ in general, and furthers the objectives of section 6(b)(5) of the Act,\6\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, promote just and equitable principles of trade, remove impediments to and perfect the mechanism of a free and open market and a national market system, and protect investors and the public interest. In particular, the Exchange believes that deleting rule text relating to a requirement that is obsolete, i.e., to manually submit and transmit information that Exchange systems now capture and transmit electronically, removes impediments to and perfects the mechanism of a free and open market by simplifying its rulebook and removing confusion that may result from having obsolete rules in the Exchange's rulebook. The Exchange further believes that the proposal removes impediments to and perfects the mechanism of a free and open market by ensuring that persons subject to the Exchange's jurisdiction, regulators, and the investing public can more easily navigate and understand the Exchange's rulebook. The Exchange also believes that eliminating obsolete rules would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased transparency as to which rules are operable, thereby reducing potential confusion. Similarly, the Exchange believes that removing a cross-reference to obsolete requirements would remove impediments to and perfect the mechanism of a free and open market because it would reduce potential confusion that may result from having such cross references in the Exchange's rulebook. Removing such obsolete cross references will also further the goal of transparency and add clarity to the Exchange's rules. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- 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. The proposed rule change is not intended to address competitive issues but rather to eliminate obsolete data submission requirements for trades on its Trading Floor. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule 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 if consistent with the protection of investors and the public interest, provided that the self-regulatory organization has given the Commission written notice of its intent to file 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,\7\ the proposed rule change has become effective pursuant to section 19(b)(3)(A) of the Act \8\ and Rule 19b- 4(f)(6) thereunder.\9\ --------------------------------------------------------------------------- \7\ The Exchange has fulfilled this requirement. \8\ 15 U.S.C. 78s(b)(3)(A). \9\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- At any time within 60 days of the filing of such 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 under section 19(b)(2)(B) \10\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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-NYSEMKT-2015-97 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-NYSEMKT-2015-97. 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., [[Page 76335]] 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 NYSE's principal office and on its Internet Web site at www.nyse.com. 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-NYSEMKT-2015-97 and should be submitted on or before December 29, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-30837 Filed 12-7-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 235 / Tuesday, December 8, 2015 / Notices 76333
APPENDIX—Continued
801–77520 ...................................... ACCESS STRATEGIC ADVISORY GROUP, LLC.
801–66662 ...................................... ARNOTT CAPITAL PTY LTD.
801–71208 ...................................... KPDN INC.
801–69648 ...................................... FUTURE VALUE CONSULTANTS LIMITED.
801–65517 ...................................... FGS CAPITAL LLP.
801–71188 ...................................... CENTINELA CAPITAL PARTNERS, LLC.
801–72117 ...................................... MAP ALTERNATIVE ASSET MANAGEMENT COMPANY, LLC.
801–69898 ...................................... INSIGHT ONSITE STRATEGIC MANAGEMENT LLC.
801–10966 ...................................... GARY EUGENE GIBBONS DBA THE COLERIDGE GROUP.
801–77747 ...................................... NEW SOURCE MEDIA ADVISOR, LLC.
801–70916 ...................................... CMA ADVISORY GROUP, LLC.
801–78409 ...................................... CASICO, LLC.
801–78848 ...................................... RCG PARTNERS.
801–72000 ...................................... STAMBOULI MANAGEMENT CORP.
801–71089 ...................................... OPTIMIZE CAPITAL.
801–71439 ...................................... BATTENKILL CAPITAL MANAGEMENT, INC.
801–78049 ...................................... EXCALIBUR MANAGEMENT, LLC.
801–61973 ...................................... MEDITRON ASSET MANAGEMENT, LLC.
801–77143 ...................................... CAMELOT ACQUISITION SECONDARY OPPORTUNITIES MANAGEMENT, LLC.
801–63963 ...................................... HARPER ASSOCIATES, LLC.
801–28490 ...................................... FX CONCEPTS, LLC.
801–76567 ...................................... CUSTOM FINANCIAL SERVICES, LLC.
801–8984 ........................................ VALLEY FORGE MANAGEMENT CORP.
801–70460 ...................................... PAUL–ELLIS INVESTMENT ASSOCIATES.
801–77931 ...................................... YORKSHIRE CAPITAL MANAGEMENT LLC.
801–77496 ...................................... WILLIAMS CAPITAL STRATEGIES LLC.
801–72743 ...................................... NICHOLS CONSULTING.
801–62524 ...................................... PURCELL ADVISORY SERVICES, LLC.
801–76636 ...................................... PETROFF INSTITUTIONAL.
801–72299 ...................................... VASQUEZ & CO.
[FR Doc. 2015–30838 Filed 12–7–15; 8:45 am] solicit comments on the proposed rule A. Self-Regulatory Organization’s
BILLING CODE 8011–01–P change from interested persons. Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
I. Self-Regulatory Organization’s Change
SECURITIES AND EXCHANGE Statement of the Terms of Substance of
COMMISSION the Proposed Rule Change 1. Purpose
The Exchange proposes to amend
[Release No. 34–76540; File No. SR– The Exchange proposes to amend Rule 132—Equities (‘‘Rule 132’’) to
NYSEMKT–2015–97] Rule 132—Equities to delete delete Supplementary Material .40,
Supplementary Material .40 requiring which requires members to submit
Self-Regulatory Organizations; NYSE members effecting transactions on the
MKT LLC; Notice of Filing and certain data elements and badge
equities trading Floor (the ‘‘Trading information for transactions effected on
Immediate Effectiveness of Proposed
Floor’’) to submit certain data elements the Trading Floor and to make a
Rule Change Amending Rule 132—
and badge information and to make a conforming change.
Equities To Delete Supplementary
Material .40 Requiring Members conforming change. The proposed rule Rule 132 requires clearing member
Effecting Transactions on the Equities change is available on the Exchange’s organizations submitting a transaction
Trading Floor to Submit Certain Data Web site at www.nyse.com, at the to comparison to include the audit trail
Elements and Badge Information and principal office of the Exchange, and at data elements set forth in
to Make a Conforming Change the Commission’s Public Reference Supplementary Material .30, including a
Room. specification of the account type for
December 2, 2015. which the transaction was effected
Pursuant to section 19(b)(1) 1 of the II. Self-Regulatory Organization’s according to defined account categories.
Securities Exchange Act of 1934 (the Statement of the Purpose of, and Consistent with this requirement,
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Statutory Basis for, the Proposed Rule Supplementary Material .40 requires
notice is hereby given that on November Change members 4 effecting transactions on the
20, 2015, NYSE MKT LLC (the Trading Floor as agent or otherwise to
In its filing with the Commission, the
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with supply these audit trail data elements to
self-regulatory organization included
the Securities and Exchange their clearing member organization and
Commission (the ‘‘Commission’’) the statements concerning the purpose of,
and basis for, the proposed rule change to promptly provide the reporter in the
proposed rule change as described in Crowd (or other designated Exchange
Items I, II, and III below, which Items and discussed any comments it received
representative) with the member’s
Lhorne on DSK9F6TC42PROD with NOTICES
have been prepared by the self- on the proposed rule change. The text
of those statements may be examined at broker badge number or alpha symbol.
regulatory organization. The The Exchange proposes to delete Rule
Commission is publishing this notice to the places specified in Item IV below.
132.40 as obsolete. Rule 132.40 was
The Exchange has prepared summaries,
1 15 U.S.C.78s(b)(1). set forth in sections A, B, and C below, 4 Under Rule 2(a), a member is a natural person
2 15 U.S.C. 78a. of the most significant parts of such associated with a member organization and in the
3 17 CFR 240.19b–4. statements. context of Rule 132.40, refers to Floor brokers only.
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![Federal Register / Vol. 80, No. 235 / Tuesday, December 8, 2015 / Notices 76335
Washington, DC 20549, on official SECURITIES AND EXCHANGE ‘‘Exchange’’) filed with the Securities
business days between the hours of COMMISSION and Exchange Commission
10:00 a.m. and 3:00 p.m. Copies of the (‘‘Commission’’), pursuant to Section
filing will also be available for Sunshine Act Meeting 19(b)(1) of the Securities Exchange Act
inspection and copying at the NYSE’s of 1934 (‘‘Exchange Act’’) 1 and Rule
Notice is hereby given, pursuant to
principal office and on its Internet Web 19b–4 thereunder,2 a proposed rule
the provisions of the Government in the
site at www.nyse.com. All comments change to list and trade shares
Sunshine Act, Public Law 94–409, that
received will be posted without change; (‘‘Shares’’) of the Active Alts Contrarian
the Securities and Exchange
the Commission does not edit personal ETF (‘‘Fund’’) of ETFis Series Trust I
Commission will hold a Closed Meeting
identifying information from (‘‘Trust’’) under Nasdaq Rule 5735. The
submissions. You should submit only on Thursday, December 10, 2015 at 2:00
proposed rule change was published for
information that you wish to make p.m.
Commissioners, Counsel to the comment in the Federal Register on
available publicly. All submissions October 29, 2015.3 The Commission
Commissioners, the Secretary to the
should refer to File Number SR– received no comments on the proposal.
NYSEMKT–2015–97 and should be Commission, and recording secretaries
will attend the Closed Meeting. Certain This order approves the proposed rule
submitted on or before December 29, change.
2015. staff members who have an interest in
the matters also may be present. II. The Exchange’s Description of the
For the Commission, by the Division of The General Counsel of the Proposal 4
Trading and Markets, pursuant to delegated Commission, or her designee, has
authority.11 Nasdaq proposes to list and trade the
certified that, in her opinion, one or
Robert W. Errett, Shares under Nasdaq Rule 5735, which
more of the exemptions set forth in 5
Deputy Secretary. governs the listing and trading of
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
[FR Doc. 2015–30837 Filed 12–7–15; 8:45 am] Managed Fund Shares.5 The Fund will
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
be an actively-managed exchange-traded
BILLING CODE 8011–01–P and (10), permit consideration of the
fund (‘‘ETF’’). The Shares will be
scheduled matter at the Closed Meeting.
Commissioner Stein, as duty officer, offered by the Trust, which was
SECURITIES AND EXCHANGE voted to consider the items listed for the established as a Delaware series trust on
COMMISSION Closed Meeting in closed session. September 20, 2012.6 The Fund will be
The subject matter of the Closed a series of the Trust. Etfis Capital LLC
Sunshine Act Meeting will be the investment adviser
Meeting will be:
Notice is hereby given, pursuant to Settlement of injunctive actions; (‘‘Adviser’’) to the Fund. Active Alts
the provisions of the Government in the Institution and settlement of Inc. will be the investment sub-adviser
Sunshine Act, Public Law 94–409, that administrative proceedings; to the Fund (‘‘Sub-Adviser’’).7 ETF
the Securities and Exchange Resolution of litigation claims; and 1 15
Other matters relating to enforcement U.S.C. 78s(b)(1).
Commission will hold an Open Meeting 2 17 CFR 240.19b–4.
on Friday, December 11, 2015 at 10:00 proceedings. 3 See Securities Exchange Act Release No. 76245
a.m., in the Auditorium, Room L–002. At times, changes in Commission (Oct. 23, 2015), 80 FR 66594 (‘‘Notice’’).
The subject matter of the Open priorities require alterations in the 4 Additional information regarding, among other
Meeting will be: scheduling of meeting items. things, the Shares, the Fund, its investment
• The Commission will consider For further information and to objective, its investments, its investment strategies,
its investment methodology, its fees, its creation
whether to propose a new rule and ascertain what, if any, matters have been and redemption procedures, availability of
amendments to certain proposed forms added, deleted or postponed, please information, trading rules and halts, and
related to the use of derivatives by contact the Office of the Secretary at surveillance procedures can be found in the Notice
registered investment companies and (202) 551–5400. and in the Registration Statement. See Notice, supra
business development companies. note 3, and Registration Statement, infra note 6,
Dated: December 3, 2015. respectively.
• The Commission will consider
Brent J. Fields, 5 A Managed Fund Share is a security that
whether to propose rules to require represents an interest in an investment company
disclosure of certain payments made to Secretary.
registered under the Investment Company Act of
governments by resource extraction [FR Doc. 2015–30946 Filed 12–4–15; 11:15 am] 1940, as amended (15 U.S.C. 80a–1) (the ‘‘1940
issuers, as mandated by Section 1504 of BILLING CODE 8011–01–P Act’’) organized as an open-end investment
company or similar entity that invests in a portfolio
the Dodd-Frank Wall Street Reform and of securities selected by its investment adviser
Consumer Protection Act. consistent with its investment objectives and
At times, changes in Commission SECURITIES AND EXCHANGE policies.
priorities require alterations in the COMMISSION 6 The Trust is registered with the Commission as
scheduling of meeting items. an investment company and has filed a registration
[Release No. 34–76538; File No. SR– statement on Form N–1A (‘‘Registration Statement’’)
For further information and to NASDAQ–2015–124] with the Commission. See Post-Effective
ascertain what, if any, matters have been Amendment No. 70 to Registration Statement on
added, deleted, or postponed, please Self-Regulatory Organizations; The Form N–1A for the Trust, dated Oct. 16, 2015 (File
contact: NASDAQ Stock Market LLC; Order Nos. 333–187668 and 811–22819). The description
The Office of the Secretary at (202) of the Fund and the Shares contained herein is
Approving a Proposed Rule Change To based, in part, on information in the Registration
551–5400. List and Trade Shares of the Active Statement. The Commission has issued an order,
Dated: December 4, 2015. Alts Contrarian ETF of ETFis Series upon which the Trust may rely (‘‘Exemptive
Lhorne on DSK9F6TC42PROD with NOTICES
Trust I Order’’), granting certain exemptive relief to the
Brent J. Fields, investment adviser to the Fund under the 1940 Act.
Secretary. December 2, 2015. See Investment Company Act Release No. 30607
[FR Doc. 2015–31071 Filed 12–4–15; 4:15 pm] (Jul. 23, 2013) (File No. 812–14080).
BILLING CODE 8011–01–P
I. Introduction 7 An investment adviser to an open-end fund is
required to be registered under the Investment
On October 19, 2015, The NASDAQ Advisers Act of 1940 (‘‘Advisers Act’’). As a result,
11 17 CFR 200.30–3(a)(12). Stock Market LLC (‘‘Nasdaq’’ or Continued
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Document Created: 2015-12-14 13:27:42
Document Modified: 2015-12-14 13:27:42
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 76333 |
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