80 FR 79385 - Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend and Correct Rule 1080.07

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 244 (December 21, 2015)

Page Range		79385-79386
FR Document		2015-31935

Federal Register, Volume 80 Issue 244 (Monday, December 21, 2015)

[Federal Register Volume 80, Number 244 (Monday, December 21, 2015)]
[Notices]
[Pages 79385-79386]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31935]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76648; File No. SR-Phlx-2015-49]


Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change To 
Amend and Correct Rule 1080.07

December 15, 2015.
    On June 5, 2015, NASDAQ OMX PHLX LLC (the ``Exchange'' or ``Phlx'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to 
amend and correct several provisions in Phlx Rule 1080.07, which 
governs the trading of Complex Orders on Phlx XL. The proposed rule 
change was published for comment in the Federal Register on June 23, 
2015.\3\ On July 30, 2015, the Commission extended the time period for 
Commission action to September 21, 2015.\4\ On September 17, 2015, the 
Commission instituted proceedings under section 19(b)(2)(B) of the Act 
\5\ to determine whether to approve or disapprove the proposed rule 
change.\6\ The Phlx filed Amendment Nos. 1 and 2 to the proposal on 
November 4, 2015, and December 3, 2015, respectively.\7\ The Commission 
received no comments regarding the proposal.\8\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 75189 (June 17, 
2015), 80 FR 35997.
    \4\ See Securities Exchange Act Release No. 75570, 80 FR 46619 
(August 5, 2015).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 75942, 80 FR 57406 
(September 23, 2015).
    \7\ When the Phlx filed Amendment Nos. 1 and 2 with the 
Commission, it also posted the amendments on the Phlx's Web site and 
submitted the amendments as a comment letters to the file, which the 
Commission posted on its Web site and placed in the public comment 
file for SR-Phlx-2015-49.
    \8\ As noted above, the Phlx submitted Amendment Nos. 1 and 2 to 
the comment letter file for SR-Phlx-2015-49.
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    Section 19(b)(2) of the Act provides that proceedings to determine 
whether to disapprove a proposed rule change must be concluded within 
180 days of the date of publication of notice of filing of the proposed 
rule change.\9\ The time for conclusion of the proceedings may be 
extended for up to 60 days if the Commission determines that a longer 
period is appropriate and publishes the reasons for such 
determination.\10\ The 180th day for this filing is December 20, 2015.
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    \9\ 15 U.S.C. 78s(b)(2)(B)(i)(II) and (ii)(I).
    \10\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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    The Commission is extending the time period for Commission action 
on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider the 
issues raised by the proposal and to take action on the Exchange's 
proposed rule change.
    Accordingly, pursuant to section 19(b)(2)(B)(ii)(II) of the Act 
\11\ and for the reasons stated above, the Commission designates 
February 18, 2016, as the date by which the Commission should either 
approve or disapprove the proposed rule change (File No. SR-Phlx-2015-
49).
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    \11\ Id.


[[Page 79386]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(57).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-31935 Filed 12-18-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 244 / Monday, December 21, 2015 / Notices 79385

Commission may designate, if amendments, all written statements Federal Register on June 23, 2015.3 On
consistent with the protection of with respect to the proposed rule July 30, 2015, the Commission extended
investors and the public interest, the change that are filed with the the time period for Commission action
proposed rule change has become Commission, and all written to September 21, 2015.4 On September
effective pursuant to Section 19(b)(3)(A) communications relating to the 17, 2015, the Commission instituted
of the Act and Rule 19b–4(f)(6)(iii) proposed rule change between the proceedings under section 19(b)(2)(B) of
thereunder. Commission and any person, other than the Act 5 to determine whether to
A proposed rule change filed under those that may be withheld from the approve or disapprove the proposed
Rule 19b–4(f)(6) 16 normally does not public in accordance with the rule change.6 The Phlx filed
become operative prior to 30 days after provisions of 5 U.S.C. 552, will be Amendment Nos. 1 and 2 to the
the date of the filing. However, pursuant available for Web site viewing and proposal on November 4, 2015, and
to Rule 19b4(f)(6)(iii),17 the Commission printing in the Commission’s Public December 3, 2015, respectively.7 The
may designate a shorter time if such Reference Room, 100 F Street NE.,
Commission received no comments
action is consistent with the protection Washington, DC 20549 on official
of investors and the public interest. regarding the proposal.8
business days between the hours of
At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of such Section 19(b)(2) of the Act provides
filing of such proposed rule change, the filing also will be available for that proceedings to determine whether
Commission summarily may inspection and copying at the principal to disapprove a proposed rule change
temporarily suspend such rule change if offices of the Exchange. All comments must be concluded within 180 days of
it appears to the Commission that such received will be posted without change; the date of publication of notice of filing
action is necessary or appropriate in the the Commission does not edit personal of the proposed rule change.9 The time
public interest, for the protection of identifying information from for conclusion of the proceedings may
investors, or otherwise in furtherance of submissions. You should submit only be extended for up to 60 days if the
the purposes of the Act. If the information that you wish to make Commission determines that a longer
Commission takes such action, the available publicly. All submissions period is appropriate and publishes the
Commission shall institute proceedings should refer to File Number SR– reasons for such determination.10 The
under Section 19(b)(2)(B) 18 of the Act to NYSEMKT–2015–103, and should be 180th day for this filing is December 20,
determine whether the proposed rule submitted on or before January 11, 2016. 2015.
change should be approved or
For the Commission, by the Division of The Commission is extending the
disapproved. Trading and Markets, pursuant to delegated
authority.19
time period for Commission action on
IV. Solicitation of Comments the proposed rule change. The
Robert W. Errett,
Interested persons are invited to Commission finds that it is appropriate
submit written data, views, and Deputy Secretary.
to designate a longer period within
arguments concerning the foregoing, [FR Doc. 2015–31926 Filed 12–18–15; 8:45 am]
which to take action on the proposed
including whether the proposed rule BILLING CODE 8011–01–P
rule change so that it has sufficient time
change is consistent with the Act. to consider the issues raised by the
Comments may be submitted by any of proposal and to take action on the
the following methods: SECURITIES AND EXCHANGE
COMMISSION Exchange’s proposed rule change.
Electronic Comments Accordingly, pursuant to section
• Use the Commission’s Internet [Release No. 34–76648; File No. SR–Phlx– 19(b)(2)(B)(ii)(II) of the Act 11 and for the
comment form (http://www.sec.gov/ 2015–49] reasons stated above, the Commission
rules/sro.shtml); or designates February 18, 2016, as the
• Send an email to rule-comments@ Self-Regulatory Organizations; date by which the Commission should
sec.gov. Please include File Number SR– NASDAQ OMX PHLX LLC; Notice of either approve or disapprove the
NYSEMKT–2015–103 on the subject Designation of a Longer Period for proposed rule change (File No. SR–
line. Commission Action on Proceedings To Phlx–2015–49).
Determine Whether To Approve or
Paper Comments Disapprove a Proposed Rule Change
• Send paper comments in triplicate To Amend and Correct Rule 1080.07 3 See Securities Exchange Act Release No. 75189
to Brent J. Fields, Secretary, Securities (June 17, 2015), 80 FR 35997.
December 15, 2015.
and Exchange Commission, 100 F Street 4 See Securities Exchange Act Release No. 75570,

NE., Washington, DC 20549–1090. On June 5, 2015, NASDAQ OMX 80 FR 46619 (August 5, 2015).
All submissions should refer to File PHLX LLC (the ‘‘Exchange’’ or ‘‘Phlx’’) 5 15 U.S.C. 78s(b)(2)(B).

Number SR–NYSEMKT–2015–103. This filed with the Securities and Exchange 6 See Securities Exchange Act Release No. 75942,

file number should be included on the Commission (‘‘Commission’’), pursuant 80 FR 57406 (September 23, 2015).
subject line if email is used. To help the to section 19(b)(1) of the Securities 7 When the Phlx filed Amendment Nos. 1 and 2

Commission process and review your Exchange Act of 1934 (‘‘Act’’) 1 and Rule with the Commission, it also posted the
19b–4 thereunder,2 a proposed rule amendments on the Phlx’s Web site and submitted
comments more efficiently, please use the amendments as a comment letters to the file,
only one method. The Commission will change to amend and correct several which the Commission posted on its Web site and
mstockstill on DSK4VPTVN1PROD with NOTICES

post all comments on the Commission’s provisions in Phlx Rule 1080.07, which placed in the public comment file for SR–Phlx–
Internet Web site (http://www.sec.gov/ governs the trading of Complex Orders 2015–49.
rules/sro.shtml). Copies of the on Phlx XL. The proposed rule change 8 As noted above, the Phlx submitted Amendment

submission, all subsequent was published for comment in the Nos. 1 and 2 to the comment letter file for SR–Phlx–
2015–49.
16 17 9 15 U.S.C. 78s(b)(2)(B)(i)(II) and (ii)(I).
CFR 240.19b–4(f)(6). 19 17 CFR 200.30–3(a)(12).
17 17 10 15 U.S.C. 78s(b)(2)(B)(ii)(II).
CFR 240.19b–4(f)(6)(iii). 1 15 U.S.C. 78s(b)(1).
18 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4. 11 Id.

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79386 Federal Register / Vol. 80, No. 244 / Monday, December 21, 2015 / Notices

For the Commission, by the Division of office, and at the Commission’s Public 2. Statutory Basis
Trading and Markets, pursuant to delegated Reference Room.
authority.12 The MSRB believes that the proposed
Robert W. Errett, II. Self-Regulatory Organization’s rule change is consistent with Section
Deputy Secretary. Statement of the Purpose of, and 15B(b)(2)(C) of the Act,6 which provides
[FR Doc. 2015–31935 Filed 12–18–15; 8:45 am] Statutory Basis for, the Proposed Rule that the MSRB’s rules shall:
Change
BILLING CODE 8011–01–P be designed to prevent fraudulent and
In its filing with the Commission, the manipulative acts and practices, to promote
MSRB included statements concerning just and equitable principles of trade, to
SECURITIES AND EXCHANGE foster cooperation and coordination with
COMMISSION the purpose of and basis for the
persons engaged in regulating, clearing,
proposed rule change and discussed any
settling, processing information with respect
comments it received on the proposed
[Release No. 34–76653; File No. SR–MSRB– to, and facilitating transactions in municipal
2015–13] rule change. The text of these statements securities and municipal financial products,
may be examined at the places specified to remove impediments to and perfect the
Self-Regulatory Organizations; in Item IV below. The MSRB has mechanism of a free and open market in
Municipal Securities Rulemaking prepared summaries, set forth in municipal securities and municipal financial
Board; Notice of Filing and Immediate Sections A, B, and C below, of the most products, and, in general, to protect
Effectiveness of a Proposed Rule significant aspects of such statements. investors, municipal entities, obligated
Change To Amend Forms G–37, G–37x persons, and the public interest.
and G–38t To Change the MSRB’s A. Self-Regulatory Organization’s
Address on the Forms Statement of the Purpose of, and The proposed rule change would
Statutory Basis for, the Proposed Rule amend Forms G–37, G–37x and G–38t
December 15, 2015. Change solely to reflect the MSRB’s new address
Pursuant to Section 19(b)(1) of the that must be used by a dealer, as of and
Securities Exchange Act of 1934 (the 1. Purpose
after December 14, 2015, if the dealer is
‘‘Act’’ or ‘‘Exchange Act’’) 1 and Rule As of December 14, 2015, the MSRB submitting such forms to the MSRB in
19bb–4–4 thereunder,2 notice is hereby is re-locating its offices from 1900 Duke paper form, but would not amend, in
given that on December 4, 2015, the Street, Suite 600, Alexandria, VA 22314, any manner, the information that must
Municipal Securities Rulemaking Board
to 1300 I Street NW., Suite 1000, be provided to the MSRB pursuant to
(the ‘‘MSRB’’ or ‘‘Board’’) filed with the
Washington DC 20005–3314 (the Rule G–37 and Rule G–38, as applicable.
Securities and Exchange Commission
‘‘MSRB’s new address’’). Currently, By updating the MSRB’s address on
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and brokers, dealers and municipal Forms G–37, G–37x and G–38t, the
III below, which Items have been securities dealers (‘‘dealers’’) submitting proposed rule change will promote
prepared by the MSRB. The Form G–37 or Form G–37x pursuant to compliance with the reporting
Commission is publishing this notice to MSRB Rule G–37, on political provisions of Rule G–37 and Rule G–38.
solicit comments on the proposed rule contributions and prohibitions on As the MSRB makes all Form G–37, G–
change from interested persons. municipal securities business,4 or Form 37x and G–38t submissions available to
G–38t, pursuant to MSRB Rule G–38, on the public at no charge on its Electronic
I. Self-Regulatory Organization’s solicitation of municipal securities Municipal Market Access (EMMA) Web
Statement of the Terms of Substance of business,5 may submit these forms to site, these provisions serve to give the
the Proposed Rule Change the MSRB either electronically, via a market, including regulators, dealers,
The MSRB filed with the Commission web submission portal, or in paper form issuers and investors, transparency
a proposed rule change to amend Forms to the MSRB’s address. The MSRB regarding the political contributions of
G–37, G–37x and G–38t to change the proposes to amend Forms G–37, G–37x dealers and the third-party solicitors
MSRB’s address on the forms (the and G–38t solely to change the address compensated by dealers. Such
‘‘proposed rule change’’). The MSRB has of the MSRB on the forms to reflect the transparency serves to combat quid pro
designated the proposed rule change as MSRB’s new address, so that dealers quo corruption or the appearance
concerned solely with the that mail any of the forms to the MSRB thereof in connection with the awarding
administration of the self-regulatory will be apprised by the form of the of municipal securities business and
organization under paragraph (f)(3) of correct address. promote market integrity and a free and
Rule 19bb–4–4 under the Act,3 which
open municipal securities market. The
renders the proposal effective upon 4 Rule G–37 requires dealers to disclose to the
reporting provisions also enhance the
receipt of this filing by the Commission. MSRB on Form G–37 information about certain:
The Commission is publishing this Contributions to officials of an issuer; payments to ability of the MSRB and other regulators
notice to solicit comments on the political parties of states or political subdivisions; to detect and deter fraudulent or
contributions to bond ballot campaigns; and manipulative acts and practices in
proposed rule change from interested information regarding municipal securities business
persons. with issuers.
connection with the awarding of
The text of the proposed rule change 5 Rule G–38 prohibits dealers from making any municipal securities business. The
is available on the MSRB’s Web site at direct or indirect payment to any person who is not proposed rule change will help ensure
an affiliated person of the dealer for a solicitation
mstockstill on DSK4VPTVN1PROD with NOTICES

www.msrb.org/Rules-and- that dealers that elect to provide the
of municipal securities business on behalf of the
Interpretations/SEC-Filings/2015- dealer. Under Rule G–38(c), a limited exception applicable required form(s) to the MSRB
Filings.aspx, at the MSRB’s principal exists for payments made with respect solely to in paper form are aware of the correct
solicitation activities undertaken prior to August address to which they should send their
29, 2005 pursuant to a consultant agreement under
12 17 CFR 200.30–3(a)(57). former Rule G–38, if, among other things, the dealer
information.
1 15 U.S.C. 78s(b)(1). submits to the MSRB Form G–38t setting forth
2 17 CFR 240.19bb–4–4.
certain information related to the consultant
3 17 CFR 240.19bb–4–4(f)(3). agreement. 6 15 U.S.C. 78o–4(b)(2)(C).

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Document Created: 2015-12-19 02:57:12
Document Modified: 2015-12-19 02:57:12

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		80 FR 79385