80 FR 77063 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Rule 2.23 To Establish the Securities Trader and Securities Trader Principal Registration Categories
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 238 (December 11, 2015)
Federal Register Volume 80, Issue 238 (December 11, 2015)
| Page Range | 77063-77065 | |
| FR Document | 2015-31276 |
[Federal Register Volume 80, Number 238 (Friday, December 11, 2015)] [Notices] [Pages 77063-77065] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-31276] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76577; File No. SR-NYSEARCA-2015-116] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Rule 2.23 To Establish the Securities Trader and Securities Trader Principal Registration Categories December 8, 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 24, 2015, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') 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 NYSE Arca Rule 2.23 to (1) prescribe the Securities Traders examination (Series 57) (the ``Series 57 Examination'') as the qualifying examination for registered Market Makers, Market Maker Authorized Traders (``MMATs''), Floor Brokers and Securities Traders, (2) eliminate reference to the S501Program as a continuing education requirement, and (3) rename the category ``Proprietary Trader'' as ``Securities Trader'' in Exchange rules without making any substantive change to the definition of such term. 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 NYSE Arca Rule 2.23 to prescribe the Series 57 Examination as the qualifying examination for registered Market Makers, MMATs, Floor Brokers and Securities Traders and eliminate reference to the S501 Program as a continuing education requirement. NYSE Arca Rule 2.23 currently specifies that the successful completion of the Proprietary Trader Qualification Examination (``Series 56 Examination'') is required in order to register as a Market Maker, a MMAT, or a Floor Broker.\4\ In addition, individuals currently engaged solely in proprietary trading, who are not required to register as Market Makers, MMATs or Floor Brokers, may qualify for registration by successful completion of the Series 56 Examination or the General Securities Representative Qualification Examination (``Series 7 Examination'').\5\ --------------------------------------------------------------------------- \4\ Under the current rule, Market Makers, MMATs and Floor Brokers are also required to successfully complete an orientation program for the prescribed examination. \5\ Currently, individuals engaged solely in proprietary trading can alternatively take the Series 7 Examination as a qualifying exam. After implementation of the Series 57 Examination, an individual engaged solely in proprietary trading will be required to take the Series 57 Examination as the Series 7 Examination would no longer serve as a qualifying exam to engage solely in proprietary trading. --------------------------------------------------------------------------- The Exchange proposes to change the prescribed examination for Market Makers, MMATs, and Floor Brokers from the Series 56 Examination to the Series 57 Examination and also proposes to replace the Series 56 Examination with the Series 57 Examination for individuals engaged solely in proprietary trading. With this proposed rule change, Market Makers, MMATs, Floor Brokers and individuals engaged solely in proprietary trading will qualify for registration by passing the Series 57 Examination. The Series 57 Examination is being developed by the Financial Industry Regulatory Authority, Inc. (``FINRA'') in consultation with industry and exchange representatives. The Series 57 Examination will be based on the current job functions of securities traders and will include elements of the Series 55 Equity Trader Qualification Examination (which is required to engage in over-the-counter securities trading) and the current Series 56 Registered Proprietary Traders Examination (which is required for associated persons engaged in proprietary trading).\6\ The Series 57 Examination will be based on industry rules applicable to trading of equity securities and listed options contracts. The Series 57 Examination will cover, among other things, recordkeeping and [[Page 77064]] recording requirements; types and characteristics of securities and investments; trading practices; and display, execution, and trading systems.\7\ As such, the Exchange believes that an applicant who has passed the Series 57 Examination is shown to be qualified to act in the capacity of a Market Maker, Floor Broker, MMAT or engage solely in proprietary trading on NYSE Arca. --------------------------------------------------------------------------- \6\ While the Series 56 Examination is required for associated persons engaged in proprietary trading, Exchange rules do not require such individuals to work at a proprietary trading firm only. These individuals can work at any type of firm. However, they may only engage in proprietary trading at the firm where they are employed. For example, an individual engaged in proprietary trading at a full service firm, who is registered solely to engage in proprietary trading, may not act as a registered representative for that firm. \7\ See Securities Exchange Act Release No. 75783 (August 28, 2015), 80 FR 53369 (September 3, 2015) (SR-FINRA-2015-017) (Order Approving a Proposed Rule Change to Establish the Securities Trader and Securities Trader Principal Registration Categories). --------------------------------------------------------------------------- While NYSE Arca will no longer be offering the Series 56 Examination as a qualifying exam to new applicants, the Exchange will continue to recognize individuals who have passed that exam as having successfully completed a qualifying exam. Individuals who have taken the Series 56 Examination and have registered in Web CRD \8\ as proprietary traders will have their registration converted in Web CRD on January 4, 2016 to a securities trader. Additionally, individuals currently engaged solely in proprietary trading, who currently qualify for registration by passing the Series 7 Examination and have registered in Web CRD as Proprietary Traders will have their registration converted in Web CRD on January 4, 2016 to a Securities Trader without having to take any additional examinations and without having to take any other actions. Individuals presently registered as Market Makers, MMATs, Floor Brokers or those engaged solely in proprietary trading on NYSE Arca, who have previously passed a qualifying exam will not be required to take the Series 57 Examination as a condition of their continued registration. However, the registration of individuals who have taken the Series 56 Examination will not be converted to a Securities Trader if they have not registered as a Proprietary Trader in Web CRD by December 28, 2015. After that date, these individuals will be required to take the Series 57 Examination in order to register as securities traders. In addition, individuals registered as proprietary traders in Web CRD prior to the effective date of the proposed rule change will be eligible to register as securities traders without having to take any additional examinations, provided that no more than two years have passed between the date the individual last registered as a proprietary trader and the date the individual registers as a securities trader.\9\ --------------------------------------------------------------------------- \8\ Web CRD is the central licensing and registration system for the U.S. securities industry and its regulators. \9\ See Rule 2.23, Commentary .03. --------------------------------------------------------------------------- Under the proposed rule change, the Exchange would rename the category ``Proprietary Trader'' as ``Securities Trader'' in Rule 2.23 without making any substantive change to the definition of such term. A Securities Trader, similar to what is currently required for a Proprietary Trader, would be required to register as such on Web CRD and pass the Series 57 Examination described above, but would not be permitted to function in an agency capacity or otherwise conduct a public business in securities. Additionally, Rule 2.23 requires that an individual associated with an Exchange member with supervisory responsibility over proprietary trading activities qualify and register as a Proprietary Trader Principal. Under the proposed rule change, the Exchange would replace references in Rule 2.23 to Proprietary Trader Principal with Securities Trader Principal. Further, registered persons are required under Rule 2.23(d) to comply with the Exchange's continuing education requirements. Specifically, under Rule 2.23(d)(1)(A), individuals engaged solely in proprietary trading are required to complete the S501 Program to fulfill the Regulatory Element of their continuing education requirement. With the transition to the Series 57 Examination, the S501 Program will no longer be required; such individuals will instead be required to complete the S101 Program to fulfill the Regulatory Element of their continuing education requirement. The Exchange notes that in order to qualify as a Proprietary Trader Principal, an associated person currently must pass the Series 56 Examination or the Series 7 Examination, and the Series 24 Examination. Once the Exchange has adopted the Series 57 Examination as the qualifying exam for a Securities Trader, associated persons would need to pass the Series 57 Examination and the Series 24 Examination in order to register as a Securities Trader Principal. Only those individuals who are registered as such would be qualified to supervise a Securities Trader. Individuals registered as a General Securities Principal would not be qualified to supervise a Securities Trader. Thus, a General Securities Principal may not supervise a Securities Trader, nor would a Securities Trader Principal be able to act as a General Securities Principal, unless the individual is registered as a Securities Trader Principal and a General Securities Principal. Within 30 days of filing the proposed rule change, the Exchange will issue a Regulatory Bulletin announcing the operative date of the rule change, which will not be sooner than January 4, 2016. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Securities Exchange Act of 1934 (``Act''),\10\ in general, and furthers the objectives of Section 6(c)(3)(B) \11\ of the Act, pursuant to which a national securities exchange prescribes standards of training, experience and competence for members and their associated persons, and Section 6(b)(5) \12\ of the Act, in particular, in that it is designed, among other things, to promote just and equitable principles of trade, 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. The Exchange believes that prescribing the Series 57 Examination for Market Makers, MMATs, Floor Brokers and for individuals engaged solely in proprietary trading is appropriate because the Series 57 Examination addresses industry topics that establish the foundation for the regulatory and procedural knowledge necessary for individuals required to register as Market Makers, MMATs, Floor Brokers and for such individuals to appropriately register under Exchange rules. In addition, the Series 57 Examination is expected to be shared by other exchanges and become the industry standard.\13\ Accordingly, adopting the Series 57 Examination will help to promote consistency in examination requirements and uniformity across markets. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ 15 U.S.C. 78f(c)(3)(B). \12\ 15 U.S.C. 78f(b)(5). \13\ See supra, note 7. --------------------------------------------------------------------------- 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 not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change does not impose any additional examination burdens on persons who are already registered. There is no obligation to take the Series 57 Examination in order to continue in their present duties, so the proposed rule change is not expected to [[Page 77065]] disadvantage current registered persons relative to new entrants in this regard. 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \14\ and Rule 19b-4(f)(6) thereunder.\15\ Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative prior to 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, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b- 4(f)(6)(iii) thereunder. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A)(iii). \15\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),\17\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \16\ 17 CFR 240.19b-4(f)(6). \17\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- 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) \18\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \18\ 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-NYSEARCA-2015-116 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-NYSEARCA-2015-116. 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 Section, 100 F Street NE., Washington, DC 20549-1090. 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-NYSEARCA-2015-116 and should be submitted on or before January 4, 2016. --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ Robert W. Errett, Deputy Secretary. [FR Doc. 2015-31276 Filed 12-10-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 238 / Friday, December 11, 2015 / Notices 77063
number should be included on the November 24, 2015, NYSE Arca, Inc. of the Proprietary Trader Qualification
subject line if email is used. To help the (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed Examination (‘‘Series 56 Examination’’)
Commission process and review your with the Securities and Exchange is required in order to register as a
comments more efficiently, please use Commission (the ‘‘Commission’’) the Market Maker, a MMAT, or a Floor
only one method. The Commission will proposed rule change as described in Broker.4 In addition, individuals
post all comments on the Commission’s Items I, II, and III below, which Items currently engaged solely in proprietary
Internet Web site (http://www.sec.gov/ have been prepared by the self- trading, who are not required to register
rules/sro.shtml). Copies of the regulatory organization. The as Market Makers, MMATs or Floor
submission, all subsequent Commission is publishing this notice to Brokers, may qualify for registration by
amendments, all written statements solicit comments on the proposed rule successful completion of the Series 56
with respect to the proposed rule change from interested persons. Examination or the General Securities
change that are filed with the Representative Qualification
Commission, and all written I. Self-Regulatory Organization’s Examination (‘‘Series 7 Examination’’).5
communications relating to the Statement of the Terms of Substance of The Exchange proposes to change the
proposed rule change between the the Proposed Rule Change prescribed examination for Market
Commission and any person, other than The Exchange proposes to amend Makers, MMATs, and Floor Brokers
those that may be withheld from the NYSE Arca Rule 2.23 to (1) prescribe the from the Series 56 Examination to the
public in accordance with the Securities Traders examination (Series Series 57 Examination and also
provisions of 5 U.S.C. 552, will be 57) (the ‘‘Series 57 Examination’’) as the proposes to replace the Series 56
available for Web site viewing and qualifying examination for registered Examination with the Series 57
printing in the Commission’s Public Market Makers, Market Maker Examination for individuals engaged
Reference Room, 100 F Street NE., Authorized Traders (‘‘MMATs’’), Floor solely in proprietary trading. With this
Washington, DC 20549 on official Brokers and Securities Traders, (2) proposed rule change, Market Makers,
business days between the hours of eliminate reference to the S501Program MMATs, Floor Brokers and individuals
10:00 a.m. and 3:00 p.m. Copies of such as a continuing education requirement, engaged solely in proprietary trading
filing also will be available for and (3) rename the category will qualify for registration by passing
inspection and copying at the principal ‘‘Proprietary Trader’’ as ‘‘Securities the Series 57 Examination.
office of the Exchange. All comments Trader’’ in Exchange rules without The Series 57 Examination is being
received will be posted without change; making any substantive change to the developed by the Financial Industry
the Commission does not edit personal definition of such term. The proposed Regulatory Authority, Inc. (‘‘FINRA’’) in
identifying information from rule change is available on the consultation with industry and
submissions. You should submit only Exchange’s Web site at www.nyse.com, exchange representatives. The Series 57
information that you wish to make at the principal office of the Exchange, Examination will be based on the
available publicly. All submissions and at the Commission’s Public current job functions of securities
should refer to File Number SR–CBOE– Reference Room. traders and will include elements of the
2015–108, and should be submitted on Series 55 Equity Trader Qualification
or before January 4, 2016. II. Self-Regulatory Organization’s Examination (which is required to
Statement of the Purpose of, and engage in over-the-counter securities
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
Statutory Basis for, the Proposed Rule trading) and the current Series 56
authority.13 Change Registered Proprietary Traders
Brent J. Fields, In its filing with the Commission, the Examination (which is required for
Secretary. self-regulatory organization included associated persons engaged in
[FR Doc. 2015–31177 Filed 12–10–15; 8:45 am] statements concerning the purpose of, proprietary trading).6 The Series 57
BILLING CODE 8011–01–P and basis for, the proposed rule change Examination will be based on industry
and discussed any comments it received rules applicable to trading of equity
on the proposed rule change. The text securities and listed options contracts.
SECURITIES AND EXCHANGE of those statements may be examined at The Series 57 Examination will cover,
COMMISSION the places specified in Item IV below. among other things, recordkeeping and
The Exchange has prepared summaries,
[Release No. 34–76577; File No. SR– 4 Under the current rule, Market Makers, MMATs
NYSEARCA–2015–116] set forth in sections A, B, and C below,
and Floor Brokers are also required to successfully
of the most significant parts of such complete an orientation program for the prescribed
Self-Regulatory Organizations; NYSE statements. examination.
Arca, Inc.; Notice of Filing and A. Self-Regulatory Organization’s
5 Currently, individuals engaged solely in
Immediate Effectiveness of Proposed proprietary trading can alternatively take the Series
Statement of the Purpose of, and the 7 Examination as a qualifying exam. After
Rule Change Amending NYSE Arca Statutory Basis for, the Proposed Rule implementation of the Series 57 Examination, an
Rule 2.23 To Establish the Securities Change individual engaged solely in proprietary trading
Trader and Securities Trader Principal will be required to take the Series 57 Examination
Registration Categories 1. Purpose as the Series 7 Examination would no longer serve
as a qualifying exam to engage solely in proprietary
December 8, 2015. The Exchange proposes to amend trading.
Pursuant to Section 19(b)(1) 1 of the NYSE Arca Rule 2.23 to prescribe the 6 While the Series 56 Examination is required for
Series 57 Examination as the qualifying associated persons engaged in proprietary trading,
jstallworth on DSK7TPTVN1PROD with NOTICES
Securities Exchange Act of 1934 (the Exchange rules do not require such individuals to
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 examination for registered Market work at a proprietary trading firm only. These
notice is hereby given that, on Makers, MMATs, Floor Brokers and individuals can work at any type of firm. However,
Securities Traders and eliminate they may only engage in proprietary trading at the
13 17 reference to the S501 Program as a firm where they are employed. For example, an
CFR 200.30–3(a)(12). individual engaged in proprietary trading at a full
1 15 U.S.C.78s(b)(1). continuing education requirement. service firm, who is registered solely to engage in
2 15 U.S.C. 78a. NYSE Arca Rule 2.23 currently proprietary trading, may not act as a registered
3 17 CFR 240.19b–4. specifies that the successful completion representative for that firm.
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![Federal Register / Vol. 80, No. 238 / Friday, December 11, 2015 / Notices 77065
disadvantage current registered persons Electronic Comments SECURITIES AND EXCHANGE
relative to new entrants in this regard. COMMISSION
• Use the Commission’s Internet
C. Self-Regulatory Organization’s comment form (http://www.sec.gov/ [Release No. 34–76587; File No. SR–NYSE–
Statement on Comments on the rules/sro.shtml); or 2015–64]
Proposed Rule Change Received From
Members, Participants, or Others • Send an email to rule-comments@ Self-Regulatory Organizations; New
sec.gov. Please include File Number SR– York Stock Exchange LLC; Notice of
No written comments were solicited NYSEARCA–2015–116 on the subject Filing and Immediate Effectiveness of
or received with respect to the proposed
line. Proposed Rule Change Amending
rule change.
Exchange Rules To Prescribe the
III. Date of Effectiveness of the Paper Comments Securities Traders Examination as the
Proposed Rule Change and Timing for • Send paper comments in triplicate Qualifying Examination for Persons
Commission Action to Brent J. Fields, Secretary, Securities Associated With a Member
The Exchange has filed the proposed and Exchange Commission, 100 F Street Organization Engaged Solely in
rule change pursuant to Section NE., Washington, DC 20549–1090. Proprietary Trading, and Amend
19(b)(3)(A)(iii) of the Act 14 and Rule Continuing Education Requirement
19b–4(f)(6) thereunder.15 Because the All submissions should refer to File Applicable to Such Members
proposed rule change does not: (i) Number SR–NYSEARCA–2015–116.
December 8, 2015.
Significantly affect the protection of This file number should be included on
Pursuant to Section 19(b)(1) 1 of the
investors or the public interest; (ii) the subject line if email is used. To help
Securities Exchange Act of 1934 (the
impose any significant burden on the Commission process and review
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
competition; and (iii) become operative your comments more efficiently, please notice is hereby given that on November
prior to 30 days from the date on which use only one method. The Commission 23, 2015, New York Stock Exchange
it was filed, or such shorter time as the will post all comments on the LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
Commission may designate, if Commission’s Internet Web site (http:// with the Securities and Exchange
consistent with the protection of www.sec.gov/rules/sro.shtml). Copies of Commission (the ‘‘Commission’’) the
investors and the public interest, the the submission, all subsequent proposed rule change as described in
proposed rule change has become amendments, all written statements Items I, II, and III below, which Items
effective pursuant to Section 19(b)(3)(A) with respect to the proposed rule have been prepared by the self-
of the Act and Rule 19b–4(f)(6)(iii) change that are filed with the regulatory organization. The
thereunder. Commission, and all written
A proposed rule change filed under Commission is publishing this notice to
communications relating to the solicit comments on the proposed rule
Rule 19b–4(f)(6) 16 normally does not
become operative prior to 30 days after proposed rule change between the change from interested persons.
the date of the filing. However, pursuant Commission and any person, other than
I. Self-Regulatory Organization’s
to Rule 19b4(f)(6)(iii),17 the Commission those that may be withheld from the Statement of the Terms of Substance of
may designate a shorter time if such public in accordance with the the Proposed Rule Change
action is consistent with the protection provisions of 5 U.S.C. 552, will be
available for Web site viewing and The Exchange proposes to amend
of investors and the public interest. Exchange rules to prescribe the
At any time within 60 days of the printing in the Commission’s Public
Securities Traders examination (Series
filing of such proposed rule change, the Reference Section, 100 F Street NE.,
57) (the ‘‘Series 57 Examination’’) as the
Commission summarily may Washington, DC 20549–1090. Copies of
qualifying examination for persons
temporarily suspend such rule change if the filing will also be available for
it appears to the Commission that such associated with a member organization
inspection and copying at the NYSE’s (‘‘Member’’) engaged solely in
action is necessary or appropriate in the principal office and on its Internet Web
public interest, for the protection of proprietary trading, and amend
site at www.nyse.com. All comments Exchange rules regarding continuing
investors, or otherwise in furtherance of received will be posted without change;
the purposes of the Act. If the education requirement applicable to
the Commission does not edit personal such Members. The proposed rule
Commission takes such action, the identifying information from
Commission shall institute proceedings change is available on the Exchange’s
submissions. You should submit only Web site at www.nyse.com, at the
under Section 19(b)(2)(B) 18 of the Act to
information that you wish to make principal office of the Exchange, and at
determine whether the proposed rule
change should be approved or available publicly. All submissions the Commission’s Public Reference
disapproved. should refer to File Number SR– Room.
NYSEARCA–2015–116 and should be
IV. Solicitation of Comments II. Self-Regulatory Organization’s
submitted on or before January 4, 2016.
Statement of the Purpose of, and
Interested persons are invited to For the Commission, by the Division of Statutory Basis for, the Proposed Rule
submit written data, views, and Trading and Markets, pursuant to delegated Change
arguments concerning the foregoing, authority.19
including whether the proposed rule In its filing with the Commission, the
Robert W. Errett, self-regulatory organization included
change is consistent with the Act.
jstallworth on DSK7TPTVN1PROD with NOTICES
Comments may be submitted by any of Deputy Secretary. statements concerning the purpose of,
the following methods: [FR Doc. 2015–31276 Filed 12–10–15; 8:45 am] and basis for, the proposed rule change
BILLING CODE 8011–01–P and discussed any comments it received
14 15 U.S.C. 78s(b)(3)(A)(iii). on the proposed rule change. The text
15 17 CFR 240.19b–4(f)(6).
16 17 CFR 240.19b–4(f)(6). 1 15 U.S.C. 78s(b)(1).
17 17 CFR 240.19b–4(f)(6)(iii). 2 15 U.S.C. 78a.
18 15 U.S.C. 78s(b)(2)(B). 19 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4.
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Document Created: 2018-03-02 09:13:43
Document Modified: 2018-03-02 09:13:43
| 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 77063 |
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