80 FR 79630 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending Its Program That Allows Transactions to Take Place at a Price That Is Below $1 Per Option Contract Until January 5, 2017

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 245 (December 22, 2015)

Page Range		79630-79632
FR Document		2015-32048
Federal Register, Volume 80 Issue 245 (Tuesday, December 22, 2015)
[Federal Register Volume 80, Number 245 (Tuesday, December 22, 2015)]
[Notices]
[Pages 79630-79632]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-32048]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76667; File No. SR-NYSEARCA-2015-122]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Extending Its 
Program That Allows Transactions to Take Place at a Price That Is Below 
$1 Per Option Contract Until January 5, 2017

December 16, 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 December 9, 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 and II 
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.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange proposes to extend its program that allows 
transactions to take place at a price that is below $1 per option 
contract until January 5, 2017. 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.

[[Page 79631]]

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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this filing is to extend the Pilot Program \4\ under 
Rule 6.80 to allow accommodation transactions (``Cabinet Trades'') to 
take place at a price that is below $1 per option contract for one 
additional year. The Exchange proposes to extend the program, which is 
due to expire on January 5, 2016 until January 5, 2017.
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    \4\ See Securities Exchange Act Release No. 63476 (December 8, 
2010), 75 FR 77930 (December 14, 2010)(SR-NYSE Arca-2010-109).
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    An ``accommodation'' or ``cabinet'' trade refers to trades in 
listed options on the Exchange that are worthless or not actively 
traded. Cabinet trading is generally conducted in accordance with the 
Exchange Rules, except as provided in Exchange Rule 6.80, Accommodation 
Transactions (Cabinet Trades), which sets forth specific procedures for 
engaging in cabinet trades. Rule 6.80 currently provides for cabinet 
transactions to occur via open outcry at a cabinet price of a $1 per 
option contract in any options series open for trading in the Exchange, 
except that the Rule is not applicable to trading in option classes 
participating in the Penny Pilot Program. Under the procedures, bids 
and offers (whether opening or closing a position) at a price of $1 per 
option contract may be represented in the trading crowd by a Floor 
Broker or by a Market Maker or provided in response to a request by a 
Trading Official, a Floor Broker or a Market Maker, but must yield 
priority to all resting orders in the Cabinet (those orders held by the 
Trading Official, and which resting cabinet orders may be closing 
only). Provided that both the buyer and the seller yield to orders 
resting in the cabinet book, opening cabinet bids can trade with 
opening cabinet offers at $1 per option contract.
    The Exchange has temporarily amended the procedures through January 
5, 2016 to allow transactions to take place in open outcry at a price 
of at least $0 but less than $1 per option contract. These lower-priced 
transactions are permitted to be traded pursuant to the same procedures 
applicable to $1 cabinet trades, except that (i) bids and offers for 
opening transactions are only permitted to accommodate closing 
transactions in order to limit use of the procedure to liquidations of 
existing positions, and (ii) the procedures are also made available for 
trading in option classes participating in the Penny Pilot Program.\5\ 
The Exchange believes that allowing a price of at least $0 but less 
than $1 better accommodates the closing of options positions in series 
that are worthless or not actively traded, particularly in the event 
where there has been a significant movement in the price of the 
underlying security that results in a large number of series being out-
of-the-money. For example, a market participant might have a long 
position in a put series with a strike price of $30 and the underlying 
stock might be trading at $100. In such an instance, there might not 
otherwise be a market for that person to close-out the position even at 
the $1 cabinet price (e.g., the series might be quoted no bid).
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    \5\ Currently, the $1 cabinet trading procedures are limited to 
options classes traded in $0.05 or $0.10 standard increment. The $1 
cabinet trading procedures are not available in Penny Pilot Program 
classes because in those classes an option series can trade in a 
standard increment as low as $0.01 per share (or $1.00 per option 
contract with a 100 share multiplier). Because the temporary 
procedures allow trading below $0.01 per share (or $1.00 per option 
contract with a 100 share multiplier), the procedures are available 
for all classes, including those classes participating in the Penny 
Pilot Program.
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    As with other accommodation liquidations under Rule 6.80, 
transactions that occur for less than $1 will not be disseminated to 
the public on the consolidated tape. In addition, as with other 
accommodation liquidations under Rule 6.80, the transactions will be 
exempt from the Consolidated Options Audit Trail (``COATS'') 
requirements of Exchange Rule 6.67 Order Format and System Entry 
Requirements. However, the Exchange will maintain quotation, order and 
transaction information for the transactions in the same format as the 
COATS data is maintained. In this regard, all transactions for less 
than $1 must be reported to the Exchange following the close of each 
business day.
2. Statutory Basis
    The Exchange believes that this proposed rule change is consistent 
with section 6(b) of the Securities Exchange Act of 1934 (``Act''), \6\ 
in general, and furthers the objectives of section 6(b)(5) of the Act 
\7\ in particular, in that 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, in general, to protect 
investors and the public interest. The Exchange believes that allowing 
for liquidations at a price less than $1 per option contract will 
better facilitate the closing of options positions that are worthless 
or not actively trading, especially in Penny Pilot issues where Cabinet 
Trades are not otherwise permitted.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
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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.

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,\8\ the proposed rule change has become 
effective pursuant to section 19(b)(3)(A) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\
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    \8\ The Exchange has fulfilled this requirement.
    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6).
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    Under Rule 19b-4(f)(6) of the Act,\11\ the proposal does not become 
operative for 30 days after the date of its filing, or such shorter 
time as the Commission may designate if consistent with the protection 
of investors and the public interest. The Exchange has requested that 
the Commission waive the 30-day operative delay period after which a 
proposed rule change under Rule 19b-4(f)(6) becomes operative so that 
the pilot may continue without

[[Page 79632]]

interruption. The Commission believes that waiver of the 30-day 
operative delay is consistent with the protection of investors and the 
public interest because it will allow the pilot to continue 
uninterrupted, thereby avoiding any potential investor confusion that 
could result from a temporary interruption in the pilot and allowing 
members to continue to benefit from the program. Based on the 
foregoing, the Commission hereby waives the 30-day operative delay and 
designates the proposal operative upon filing.\12\
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    \11\ Id.
    \12\ For purposes only of waiving the operative delay, the 
Commission has considered the proposed rule's impact on efficiency, 
competition, and capital formation. See 15 U.S.C. 78c(f).
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    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) \13\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \13\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-NYSEARCA-2015-122 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-NYSEARCA-2015-122. 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 
10:00 a.m. and 3:00 p.m. Copies of such 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-NYSEARCA-2015-122, and 
should be submitted on or before January 12, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-32048 Filed 12-21-15; 8:45 am]
 BILLING CODE 8011-01-P
79630 Federal Register / Vol. 80, No. 245 / Tuesday, December 22, 2015 / Notices

section 6(b)(5) of the Act.11. [sic] furtherance of the purposes of the Act. For the Commission, by the Division of
Finally, the Exchange believes that the If the Commission takes such action, the Trading and Markets, pursuant to delegated
non-substantive changes discussed Commission shall institute proceedings authority.14
above will contribute to the protection to determine whether the proposed rule Robert W. Errett,
of investors and the public interest by should be approved or disapproved. Deputy Secretary.
helping to avoid confusion with respect [FR Doc. 2015–32046 Filed 12–21–15; 8:45 am]
to Exchange Rules. IV. Solicitation of Comments
BILLING CODE 8011–01–P
Interested persons are invited to
B. Self-Regulatory Organization’s
submit written data, views, and
Statement on Burden on Competition
arguments concerning the foregoing, SECURITIES AND EXCHANGE
The Exchange does not believe that including whether the proposed rule COMMISSION
the proposed rule change will impose change is consistent with the Act.
any burden on competition not [Release No. 34–76667; File No. SR–
Comments may be submitted by any of NYSEARCA–2015–122]
necessary or appropriate in furtherance the following methods:
of the purposes of the Act. To the Self-Regulatory Organizations; NYSE
contrary, allowing the Exchange to Electronic Comments
Arca, Inc.; Notice of Filing and
implement identical rules across each of • Use the Commission’s Internet Immediate Effectiveness of Proposed
the BGM Affiliated Exchanges does not comment form (http://www.sec.gov/ Rule Change Extending Its Program
present any competitive issues, but rules/sro.shtml); or That Allows Transactions to Take
rather is designed to provide greater • Send an email to rule- Place at a Price That Is Below $1 Per
harmonization among Exchange, EDGX, comments@sec.gov. Please include File Option Contract Until January 5, 2017
BZX, and EDGA rules of similar Number SR–BYX–2015–48 on the
purpose. The proposed rule change subject line. December 16, 2015.
should, therefore, result in less Pursuant to section 19(b)(1) 1 of the
burdensome and more efficient Paper Comments Securities Exchange Act of 1934 (the
regulatory compliance as well as a better • Send paper comments in triplicate ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
understanding of Exchange Rules for to Brent J. Fields, Secretary, Securities notice is hereby given that, on December
common members of the BGM Affiliated and Exchange Commission, 100 F Street 9, 2015, NYSE Arca, Inc. (the
Exchanges. NE., Washington, DC 20549–1090. ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
C. Self-Regulatory Organization’s All submissions should refer to File the Securities and Exchange
Statement on Comments on the Number SR–BYX–2015–48. This file Commission (the ‘‘Commission’’) the
Proposed Rule Change Received From number should be included on the proposed rule change as described in
Members, Participants, or Others subject line if email is used. To help the Items I and II below, which Items have
Commission process and review your been prepared by the self-regulatory
The Exchange has neither solicited organization. The Commission is
nor received written comments on the comments more efficiently, please use
only one method. The Commission will publishing this notice to solicit
proposed rule change.
post all comments on the Commission’s comments on the proposed rule change
III. Date of Effectiveness of the Internet Web site (http://www.sec.gov/ from interested persons.
Proposed Rule Change and Timing for rules/sro.shtml). Copies of the I. Self-Regulatory Organization’s
Commission Action submission, all subsequent Statement of the Terms of the Substance
Because the foregoing proposed rule amendments, all written statements of the Proposed Rule Change
change does not: (A) Significantly affect with respect to the proposed rule
the protection of investors or the public change that are filed with the The Exchange proposes to extend its
interest; (B) impose any significant Commission, and all written program that allows transactions to take
burden on competition; and (C) become communications relating to the place at a price that is below $1 per
operative for 30 days from the date on proposed rule change between the option contract until January 5, 2017.
which it was filed, or such shorter time Commission and any person, other than The proposed rule change is available
as the Commission may designate, it has those that may be withheld from the on the Exchange’s Web site at
become effective pursuant to section public in accordance with the www.nyse.com, at the principal office of
19(b)(3)(A) of the Act 12 and paragraph provisions of 5 U.S.C. 552, will be the Exchange, and at the Commission’s
(f)(6) of Rule 19b–4 thereunder.13 available for Web site viewing and Public Reference Room.
At any time within 60 days of the printing in the Commission’s Public II. Self-Regulatory Organization’s
filing of the proposed rule change, the Reference Room, 100 F Street NE., Statement of the Purpose of, and
Commission summarily may Washington, DC 20549 on official Statutory Basis for, the Proposed Rule
temporarily suspend such rule change if business days between the hours of Change
it appears to the Commission that such 10:00 a.m. and 3:00 p.m. Copies of such
action is: (1) Necessary or appropriate in filing also will be available for In its filing with the Commission, the
the public interest; (2) for the protection inspection and copying at the principal self-regulatory organization included
of investors; or (3) otherwise in office of the Exchange. All comments statements concerning the purpose of,
received will be posted without change; and basis for, the proposed rule change
11 Id.
the Commission does not edit personal and discussed any comments it received
mstockstill on DSK4VPTVN1PROD with NOTICES

12 15 U.S.C. 78s(b)(3)(A). identifying information from on the proposed rule change. The text
13 17 CFR 240.19b–4(f)(6). As required under Rule
submissions. You should submit only of those statements may be examined at
19b–4(f)(6)(iii), the Exchange provided the the places specified in Item IV below.
Commission with written notice of its intent to file information that you wish to make
the proposed rule change, along with a brief available publicly. All submissions 14 17
description and the text of the proposed rule CFR 200.30–3(a)(12).
should refer to File Number SR–BYX– 1 15 U.S.C.78s(b)(1).
change, at least five business days prior to the date
of filing of the proposed rule change, or such
2015–48, and should be submitted on or 2 15 U.S.C. 78a.

shorter time as designated by the Commission. before January 12, 2016. 3 17 CFR 240.19b–4.

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79632 Federal Register / Vol. 80, No. 245 / Tuesday, December 22, 2015 / Notices

interruption. The Commission believes the submission, all subsequent Regulation, Inc. (‘‘FINRA Regulation’’),
that waiver of the 30-day operative amendments, all written statements and to amend the Plan of Allocation and
delay is consistent with the protection with respect to the proposed rule Delegation of Functions by NASD to
of investors and the public interest change that are filed with the Subsidiaries (‘‘Delegation Plan’’) and the
because it will allow the pilot to Commission, and all written By-Laws of FINRA Regulation (‘‘FINRA
continue uninterrupted, thereby communications relating to the Regulation By-Laws’’); delete the By-
avoiding any potential investor proposed rule change between the Laws of FINRA Dispute Resolution
confusion that could result from a Commission and any person, other than (‘‘FINRA Dispute Resolution By-Laws’’);
temporary interruption in the pilot and those that may be withheld from the and make conforming amendments to
allowing members to continue to benefit public in accordance with the FINRA rules in order to implement the
from the program. Based on the provisions of 5 U.S.C. 552, will be merger. In addition, the proposed rule
foregoing, the Commission hereby available for Web site viewing and change would amend the FINRA
waives the 30-day operative delay and printing in the Commission’s Public Regulation By-Laws to increase the total
designates the proposal operative upon Reference Room, 100 F Street NE., number of directors who could serve on
filing.12 Washington, DC 20549 on official the FINRA Regulation board. The
At any time within 60 days of the business days between the hours of proposed rule change was published for
filing of such proposed rule change, the 10:00 a.m. and 3:00 p.m. Copies of such comment in the Federal Register on
Commission summarily may filing also will be available for October 13, 2015.3 The Commission
temporarily suspend such rule change if inspection and copying at the principal received five comment letters on the
it appears to the Commission that such office of the Exchange. All comments proposed rule change.4 On December 1,
action is necessary or appropriate in the received will be posted without change; 2015, 5 the Commission received a
public interest, for the protection of the Commission does not edit personal response to the comments from FINRA.6
investors, or otherwise in furtherance of identifying information from This order approves the proposed rule
the purposes of the Act. If the submissions. You should submit only change.
Commission takes such action, the information that you wish to make
Commission shall institute proceedings available publicly. All submissions II. Description of the Proposed Rule
under section 19(b)(2)(B) 13 of the Act to should refer to File Number SR– Change
determine whether the proposed rule NYSEARCA–2015–122, and should be
change should be approved or FINRA has proposed to merge FINRA
submitted on or before January 12, 2016.
disapproved. Dispute Resolution into FINRA
For the Commission, by the Division of Regulation. To implement the merger,
IV. Solicitation of Comments Trading and Markets, pursuant to delegated FINRA proposes to make conforming
authority.14
Interested persons are invited to amendments to the Delegation Plan,
Robert W. Errett, amend the FINRA Regulation By-Laws
submit written data, views, and
Deputy Secretary. to incorporate substantive and unique
arguments concerning the foregoing,
including whether the proposed rule [FR Doc. 2015–32048 Filed 12–21–15; 8:45 am] provisions from the FINRA Dispute
change is consistent with the Act. BILLING CODE 8011–01–P Resolution By-Laws and to make other
Comments may be submitted by any of conforming amendments, delete the
the following methods: FINRA Dispute Resolution By-Laws in
SECURITIES AND EXCHANGE their entirety, and make conforming
Electronic Comments COMMISSION amendments to FINRA rules.7 FINRA
• Use the Commission’s Internet [Release No. 34–76670; File No. SR–FINRA–
comment form (http://www.sec.gov/ 2015–034] 3 See Securities Exchange Act Release No. 76082

rules/sro.shtml); or (October 6, 2015), 80 FR 61545 (‘‘Notice’’).
• Send an email to rule-comments@ Self-Regulatory Organizations; 4 See letters from Hugh D. Berkson, President,

Public Investors Arbitration Bar Association, dated
sec.gov. Please include File Number SR– Financial Industry Regulatory November 3, 2015 (‘‘PIABA Letter’’); Ron A.
NYSEARCA–2015–122 on the subject Authority, Inc.; Order Approving a Rhoades, dated November 3, 2015 (‘‘Rhoades
line. Proposed Rule Change To Merge Letter’’); Jill Gross, Director, Pace Investor Rights
FINRA Dispute Resolution, Inc. Into Clinic, Pace Law School, dated November 3, 2015
Paper Comments (‘‘PIRC Letter’’); Larry A. Tawwater, President,
and With FINRA Regulation, Inc.
• Send paper comments in triplicate American Association for Justice, dated November
3, 2015 (‘‘AAJ Letter’’); and William A. Jacobson,
to Secretary, Securities and Exchange December 16, 2015.
Director, Cornell Securities Law Clinic, Cornell Law
Commission, 100 F Street NE., I. Introduction School, dated November 4, 2015 (‘‘CSLC Letter’’).
Washington, DC 20549–1090. 5 See Securities Exchange Act Release No. 76444
On September 29, 2015, the Financial (November 16, 2015), 80 FR 72775 (November 20,
All submissions should refer to File
Industry Regulatory Authority, Inc. 2015) extending the time for the Commission to act
Number SR–NYSEARCA–2015–122. on the proposed rule change.
(‘‘FINRA’’) filed with the Securities and
This file number should be included on 6 See letter from Meredith Cordisco, Assistant
Exchange Commission (‘‘SEC’’ or
the subject line if email is used. To help General Counsel, FINRA, dated December 1, 2015
‘‘Commission’’), pursuant to Section (‘‘FINRA Letter’’).
the Commission process and review
19(b)(1) of the Securities Exchange Act 7 The current FINRA rulebook consists of: (1)
your comments more efficiently, please
of 1934 (‘‘Act’’) 1 and Rule 19b–4 FINRA Rules; (2) NASD Rules; and (3) rules
use only one method. The Commission incorporated from New York Stock Exchange LLC
thereunder,2 a proposed rule change to
will post all comments on the (‘‘NYSE’’) (‘‘Incorporated NYSE Rules’’) (together,
mstockstill on DSK4VPTVN1PROD with NOTICES

merge its dispute resolution subsidiary, the NASD Rules and Incorporated NYSE Rules are
Commission’s Internet Web site (http://
FINRA Dispute Resolution, Inc. referred to as the ‘‘Transitional Rulebook’’). While
www.sec.gov/rules/sro.shtml). Copies of
(‘‘FINRA Dispute Resolution’’) into and the NASD Rules generally apply to all FINRA
with its regulatory subsidiary, FINRA members, the Incorporated NYSE Rules apply only
12 For purposes only of waiving the operative
to those members of FINRA that are also members
delay, the Commission has considered the proposed of the NYSE (‘‘Dual Members’’). The FINRA Rules
14 17 CFR 200.30–3(a)(12).
rule’s impact on efficiency, competition, and capital apply to all FINRA members, unless such rules
formation. See 15 U.S.C. 78c(f). 1 15 U.S.C. 78s(b)(1). have a more limited application by their terms. For
13 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4. more information about the rulebook consolidation

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Document Created: 2015-12-22 02:31:08
Document Modified: 2015-12-22 02:31:08
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 79630