81_FR_10347 81 FR 10308 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Sections 1206 and 1212T of the NYSE MKT Company Guide

81 FR 10308 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Sections 1206 and 1212T of the NYSE MKT Company Guide

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 39 (February 29, 2016)

Page Range10308-10309
FR Document2016-04248

Federal Register, Volume 81 Issue 39 (Monday, February 29, 2016)
[Federal Register Volume 81, Number 39 (Monday, February 29, 2016)]
[Notices]
[Pages 10308-10309]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-04248]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77210; File No. SR-NYSEMKT-2016-27]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Amending Sections 1206 
and 1212T of the NYSE MKT Company Guide

February 23, 2016.
    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 February 17, 2016, 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 and II 
below, which Items have been prepared by the self-regulatory 
organization. The Exchange has designated this proposal as a ``non-
controversial'' proposed rule change pursuant to Section 19(b)(3)(A) of 
the Act \4\ and Rule 19b-4(f)(6)(iii) thereunder,\5\ which renders it 
effective upon filing with the Commission. 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.
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 17 CFR 240.19b-4(f)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Sections 1206 and 1212T of the NYSE 
MKT Company Guide (the ``Company Guide'') to delete an outdated 
reference. 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 recently established a Committee for Review (``CFR'') 
as a sub-committee of the Regulatory Oversight Committee.\6\ As 
approved, the CFR was the successor to, among others, the Committee on 
Securities, a committee of the Exchange board of directors that reviews 
determinations to limit or prohibit the continued listing of an 
issuer's securities on the Exchange. In connection with this filing, 
the Exchange made conforming amendments to Sections 1206 and 1212T of 
the Company Guide, among others, to replace references to the 
``Committee on Securities'' with ``Committee for Review.'' As a result, 
two conforming references to a ``Committee on Securities Council'' 
became references to a ``Committee for Review Council.'' \7\ More 
specifically, prior to the recent amendment, Section 1206 referred to a 
``Committee on Securities Council.'' As recently amended, Section 1206 
of the Company Guide describes the process for discretionary review by 
the Exchange board of directors of delisting decisions of the Committee 
for Review, and provides that the board of directors may, among other 
things, ``remand the matter to the Committee for Review Council, Panel, 
or Staff with appropriate instructions.'' \8\
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    \6\ See Securities Exchange Act Release No. 77008 (February 1, 
2016) (SR-NYSEMKT-2015-106).
    \7\ See Securities Exchange Act Release No. 76638 (December 14, 
2015), 80 FR 79117 (SR-NYSEMKT-2015-106).
    \8\ See Company Guide, Section 1206(e).
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    Similarly, prior to the recent amendment, Section 1212T referred to 
a ``Committee on Securities Council.'' Section 1212T governs certain 
legacy listing applications, and provides for a discretionary review by 
the Exchange's board of directors of Committee for Review 
determinations not to approve an issuer's listing application.\9\ The 
amended language provides that a discretionary review by the Exchange 
board of directors can be, among other things, remanded to the 
``Committee for Review Council, Panel, or Staff with appropriate 
instructions.'' \10\
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    \9\ See Company Guide, Section 1212T(h).
    \10\ See id. at (h)(ii).
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    The Exchange proposes to amend Section 1206(d) and 1212T(h)(ii) to 
delete the outdated reference to ``Council'' in both rules. The 
Exchange currently does not have a constituted body known as the 
Committee for Review Council, and did not have a Committee on 
Securities Council prior to the recent amendment. The reference that 
was in the rules to a Committee on Securities Council is a legacy 
reference pre-dating the acquisition of the American Stock Exchange by 
the NYSE in 2008.\11\
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    \11\ See, e.g., Securities Exchange Act Release No. 53398 (March 
2, 2006), 71 FR 12738 (SR-Amex-2005-107).
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    The use of ``Council'' in Sections 1206 and 1212T is accordingly 
obsolete. A remand by the Exchange board of directors under either 
Section 1206(d) or 1212T(h)(ii) prior to the amendments could only have 
been to the Committee on Securities Panel making the contested 
determination or Exchange staff, and a remand under the proposed 
revised rules would only be to the Committee for Review Panel making 
the contested determination or to Exchange staff. The Exchange is, 
therefore, proposing to delete the outdated reference to ``Council.''
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Exchange Act \12\ in general, and with Section 
6(b)(5) \13\ in particular, in that it in that it is designed to 
prevent fraudulent and manipulative acts and practices, to promote just 
and equitable principles of trade, to foster cooperation and 
coordination with

[[Page 10309]]

persons engaged in facilitating transactions in securities, and to 
remove impediments to and perfect the mechanism of a free and open 
market and a national market system and, in general, help to protect 
investors and the public interest. Specifically, the Exchange believes 
that replacing outdated references to the Committee for Review 
``Council'' removes impediments to and perfects the mechanism of a free 
and open market by removing confusion that may result from having 
obsolete references 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 believes that eliminating obsolete references 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, thereby reducing potential confusion. Removing 
such obsolete references will also further the goal of transparency and 
add clarity to the Exchange's rules.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f(b).
    \13\ 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 Exchange Act. The proposed rule 
change is not intended to address competitive issues but rather to 
delete obsolete references, thereby increasing transparency, reducing 
confusion, and making the Exchange's rules easier to understand and 
navigate.

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 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\
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    \14\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to 
give the Commission written notice of the Exchange's intent to file 
the proposed rule change, along with a brief description and text of 
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. The Exchange has satisfied this 
requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\16\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay so that the proposal 
may become operative immediately upon filing. The Commission believes 
that waiver of the 30-day operative delay is appropriate because the 
proposed rule change will reduce confusion and add clarity to the 
Company Guide without delay. Based on the foregoing, the Commission 
believes that the waiver of the operative delay is consistent with the 
protection of investors and the public interest.\17\ The Commission 
hereby grants the waiver and designates the proposal operative upon 
filing.
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    \15\ 17 CFR 240.19b-4(f)(6).
    \16\ 17 CFR 240.19b-4(f)(6)(iii).
    \17\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    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 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-NYSEMKT-2016-27 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-2016-27. 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 the filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-NYSEMKT-2016-27 and should 
be submitted on or before March 21, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-04248 Filed 2-26-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                    10308                         Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices

                                                    Reference Room, 100 F Street NE.,                       I. Self-Regulatory Organization’s                     of the Committee for Review, and
                                                    Washington, DC 20549 on official                        Statement of the Terms of Substance of                provides that the board of directors may,
                                                    business days between the hours of                      the Proposed Rule Change                              among other things, ‘‘remand the matter
                                                    10:00 a.m. and 3:00 p.m. Copies of such                    The Exchange proposes to amend                     to the Committee for Review Council,
                                                    filing also will be available for                       Sections 1206 and 1212T of the NYSE                   Panel, or Staff with appropriate
                                                    inspection and copying at the principal                 MKT Company Guide (the ‘‘Company                      instructions.’’ 8
                                                    office of FINRA. All comments received                  Guide’’) to delete an outdated reference.                Similarly, prior to the recent
                                                    will be posted without change; the                      The proposed rule change is available                 amendment, Section 1212T referred to a
                                                    Commission does not edit personal                       on the Exchange’s Web site at                         ‘‘Committee on Securities Council.’’
                                                    identifying information from                            www.nyse.com, at the principal office of              Section 1212T governs certain legacy
                                                    submissions. You should submit only                     the Exchange, and at the Commission’s                 listing applications, and provides for a
                                                    information that you wish to make                       Public Reference Room.                                discretionary review by the Exchange’s
                                                    available publicly. All submissions                                                                           board of directors of Committee for
                                                                                                            II. Self-Regulatory Organization’s                    Review determinations not to approve
                                                    should refer to File Number SR–FINRA–
                                                                                                            Statement of the Purpose of, and                      an issuer’s listing application.9 The
                                                    2016–004, and should be submitted on                    Statutory Basis for, the Proposed Rule                amended language provides that a
                                                    or before March 21, 2016.                               Change                                                discretionary review by the Exchange
                                                      For the Commission, by the Division of                   In its filing with the Commission, the             board of directors can be, among other
                                                    Trading and Markets, pursuant to delegated              self-regulatory organization included                 things, remanded to the ‘‘Committee for
                                                    authority.20                                            statements concerning the purpose of,                 Review Council, Panel, or Staff with
                                                    Robert W. Errett,                                       and basis for, the proposed rule change               appropriate instructions.’’ 10
                                                    Deputy Secretary.                                       and discussed any comments it received                   The Exchange proposes to amend
                                                    [FR Doc. 2016–04250 Filed 2–26–16; 8:45 am]             on the proposed rule change. The text                 Section 1206(d) and 1212T(h)(ii) to
                                                                                                            of those statements may be examined at                delete the outdated reference to
                                                    BILLING CODE 8011–01–P
                                                                                                            the places specified in Item IV below.                ‘‘Council’’ in both rules. The Exchange
                                                                                                            The Exchange has prepared summaries,                  currently does not have a constituted
                                                                                                            set forth in sections A, B, and C below,              body known as the Committee for
                                                    SECURITIES AND EXCHANGE                                                                                       Review Council, and did not have a
                                                    COMMISSION                                              of the most significant parts of such
                                                                                                            statements.                                           Committee on Securities Council prior
                                                                                                                                                                  to the recent amendment. The reference
                                                    [Release No. 34–77210; File No. SR–                     A. Self-Regulatory Organization’s                     that was in the rules to a Committee on
                                                    NYSEMKT–2016–27]                                        Statement of the Purpose of, and the                  Securities Council is a legacy reference
                                                                                                            Statutory Basis for, the Proposed Rule                pre-dating the acquisition of the
                                                    Self-Regulatory Organizations; NYSE                     Change                                                American Stock Exchange by the NYSE
                                                    MKT LLC; Notice of Filing and                                                                                 in 2008.11
                                                                                                            1. Purpose
                                                    Immediate Effectiveness of Proposed                                                                              The use of ‘‘Council’’ in Sections 1206
                                                    Rule Change Amending Sections 1206                         The Exchange recently established a                and 1212T is accordingly obsolete. A
                                                    and 1212T of the NYSE MKT Company                       Committee for Review (‘‘CFR’’) as a sub-              remand by the Exchange board of
                                                    Guide                                                   committee of the Regulatory Oversight                 directors under either Section 1206(d)
                                                                                                            Committee.6 As approved, the CFR was                  or 1212T(h)(ii) prior to the amendments
                                                    February 23, 2016.                                      the successor to, among others, the                   could only have been to the Committee
                                                       Pursuant to Section 19(b)(1) 1 of the                Committee on Securities, a committee of               on Securities Panel making the
                                                    Securities Exchange Act of 1934 (the                    the Exchange board of directors that                  contested determination or Exchange
                                                    ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                  reviews determinations to limit or                    staff, and a remand under the proposed
                                                    notice is hereby given that on February                 prohibit the continued listing of an                  revised rules would only be to the
                                                    17, 2016, NYSE MKT LLC (the                             issuer’s securities on the Exchange. In               Committee for Review Panel making the
                                                    ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with                connection with this filing, the                      contested determination or to Exchange
                                                    the Securities and Exchange                             Exchange made conforming                              staff. The Exchange is, therefore,
                                                                                                            amendments to Sections 1206 and                       proposing to delete the outdated
                                                    Commission (the ‘‘Commission’’) the
                                                                                                            1212T of the Company Guide, among                     reference to ‘‘Council.’’
                                                    proposed rule change as described in
                                                                                                            others, to replace references to the
                                                    Items I and II below, which Items have                                                                        2. Statutory Basis
                                                                                                            ‘‘Committee on Securities’’ with
                                                    been prepared by the self-regulatory
                                                                                                            ‘‘Committee for Review.’’ As a result,                   The Exchange believes that the
                                                    organization. The Exchange has
                                                                                                            two conforming references to a                        proposed rule change is consistent with
                                                    designated this proposal as a ‘‘non-                    ‘‘Committee on Securities Council’’
                                                    controversial’’ proposed rule change                                                                          Section 6(b) of the Exchange Act 12 in
                                                                                                            became references to a ‘‘Committee for                general, and with Section 6(b)(5) 13 in
                                                    pursuant to Section 19(b)(3)(A) of the                  Review Council.’’ 7 More specifically,
                                                    Act 4 and Rule 19b–4(f)(6)(iii)                                                                               particular, in that it in that it is designed
                                                                                                            prior to the recent amendment, Section                to prevent fraudulent and manipulative
                                                    thereunder,5 which renders it effective                 1206 referred to a ‘‘Committee on
                                                    upon filing with the Commission. The                                                                          acts and practices, to promote just and
                                                                                                            Securities Council.’’ As recently                     equitable principles of trade, to foster
                                                    Commission is publishing this notice to                 amended, Section 1206 of the Company                  cooperation and coordination with
asabaliauskas on DSK5VPTVN1PROD with NOTICES




                                                    solicit comments on the proposed rule                   Guide describes the process for
                                                    change from interested persons.                         discretionary review by the Exchange                    8 See Company Guide, Section 1206(e).
                                                                                                            board of directors of delisting decisions               9 See Company Guide, Section 1212T(h).
                                                      20 17 CFR 200.30–3(a)(12).                                                                                    10 See id. at (h)(ii).
                                                      1 15 U.S.C. 78s(b)(1).                                                                                        11 See, e.g., Securities Exchange Act Release No.
                                                                                                              6 See Securities Exchange Act Release No. 77008
                                                      2 15 U.S.C. 78a.
                                                                                                            (February 1, 2016) (SR–NYSEMKT–2015–106).             53398 (March 2, 2006), 71 FR 12738 (SR–Amex–
                                                      3 17 CFR 240.19b–4.                                     7 See Securities Exchange Act Release No. 76638     2005–107).
                                                      4 15 U.S.C. 78s(b)(3)(A).                                                                                     12 15 U.S.C. 78f(b).
                                                                                                            (December 14, 2015), 80 FR 79117 (SR–NYSEMKT–
                                                      5 17 CFR 240.19b–4(f)(6)(iii).                        2015–106).                                              13 15 U.S.C. 78f(b)(5).




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                                                                                 Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Notices                                                   10309

                                                    persons engaged in facilitating                         investors and the public interest, the                  Electronic Comments
                                                    transactions in securities, and to remove               proposed rule change has become
                                                    impediments to and perfect the                          effective pursuant to Section 19(b)(3)(A)                 • Use the Commission’s Internet
                                                    mechanism of a free and open market                     of the Act and Rule 19b–4(f)(6)(iii)                    comment form (http://www.sec.gov/
                                                    and a national market system and, in                    thereunder.14                                           rules/sro.shtml); or
                                                    general, help to protect investors and                     A proposed rule change filed under                     • Send an email to rule-comments@
                                                    the public interest. Specifically, the                  Rule 19b–4(f)(6) 15 normally does not                   sec.gov. Please include File Number SR–
                                                    Exchange believes that replacing                        become operative prior to 30 days after                 NYSEMKT–2016–27 on the subject line.
                                                    outdated references to the Committee                    the date of the filing. However, pursuant
                                                    for Review ‘‘Council’’ removes                          to Rule 19b–4(f)(6)(iii),16 the                         Paper Comments
                                                    impediments to and perfects the                         Commission may designate a shorter
                                                    mechanism of a free and open market by                                                                            • Send paper comments in triplicate
                                                                                                            time if such action is consistent with the
                                                    removing confusion that may result                                                                              to Brent J. Fields, Secretary, Securities
                                                                                                            protection of investors and the public
                                                    from having obsolete references in the                  interest. The Exchange has asked the                    and Exchange Commission, 100 F Street
                                                    Exchange’s rulebook. The Exchange                       Commission to waive the 30-day                          NE., Washington, DC 20549–1090.
                                                    further believes that the proposal                      operative delay so that the proposal may                All submissions should refer to File
                                                    removes impediments to and perfects                     become operative immediately upon                       Number SR–NYSEMKT–2016–27. This
                                                    the mechanism of a free and open                        filing. The Commission believes that                    file number should be included on the
                                                    market by ensuring that persons subject                 waiver of the 30-day operative delay is                 subject line if email is used. To help the
                                                    to the Exchange’s jurisdiction,                         appropriate because the proposed rule                   Commission process and review your
                                                    regulators, and the investing public can                change will reduce confusion and add                    comments more efficiently, please use
                                                    more easily navigate and understand the                 clarity to the Company Guide without
                                                    Exchange’s rulebook. The Exchange                                                                               only one method. The Commission will
                                                                                                            delay. Based on the foregoing, the                      post all comments on the Commission’s
                                                    believes that eliminating obsolete                      Commission believes that the waiver of
                                                    references would not be inconsistent                                                                            Internet Web site (http://www.sec.gov/
                                                                                                            the operative delay is consistent with
                                                    with the public interest and the                                                                                rules/sro.shtml). Copies of the
                                                                                                            the protection of investors and the
                                                    protection of investors because investors                                                                       submission, all subsequent
                                                                                                            public interest.17 The Commission
                                                    will not be harmed and in fact would                    hereby grants the waiver and designates                 amendments, all written statements
                                                    benefit from increased transparency,                    the proposal operative upon filing.                     with respect to the proposed rule
                                                    thereby reducing potential confusion.                      At any time within 60 days of the                    change that are filed with the
                                                    Removing such obsolete references will                  filing of such proposed rule change, the                Commission, and all written
                                                    also further the goal of transparency and               Commission summarily may                                communications relating to the
                                                    add clarity to the Exchange’s rules.                    temporarily suspend such rule change if                 proposed rule change between the
                                                                                                            it appears to the Commission that such                  Commission and any person, other than
                                                    B. Self-Regulatory Organization’s
                                                    Statement on Burden on Competition                      action is necessary or appropriate in the               those that may be withheld from the
                                                                                                            public interest, for the protection of                  public in accordance with the
                                                      The Exchange does not believe that                    investors, or otherwise in furtherance of               provisions of 5 U.S.C. 552, will be
                                                    the proposed rule change will impose                    the purposes of the Act. If the                         available for Web site viewing and
                                                    any burden on competition that is not                   Commission takes such action, the                       printing in the Commission’s Public
                                                    necessary or appropriate in furtherance                 Commission shall institute proceedings                  Reference Room, 100 F Street NE.,
                                                    of the purposes of the Exchange Act.                    under Section 19(b)(2)(B) 18 of the Act to              Washington, DC 20549 on official
                                                    The proposed rule change is not                         determine whether the proposed rule
                                                    intended to address competitive issues                                                                          business days between the hours of
                                                                                                            change should be approved or                            10:00 a.m. and 3:00 p.m. Copies of the
                                                    but rather to delete obsolete references,               disapproved.
                                                    thereby increasing transparency,                                                                                filing also will be available for
                                                    reducing confusion, and making the                      IV. Solicitation of Comments                            inspection and copying at the principal
                                                    Exchange’s rules easier to understand                                                                           office of the Exchange. All comments
                                                                                                              Interested persons are invited to
                                                    and navigate.                                                                                                   received will be posted without change;
                                                                                                            submit written data, views, and
                                                                                                                                                                    the Commission does not edit personal
                                                    C. Self-Regulatory Organization’s                       arguments concerning the foregoing,
                                                                                                                                                                    identifying information from
                                                    Statement on Comments on the                            including whether the proposed rule
                                                                                                            change is consistent with the Act.                      submissions. You should submit only
                                                    Proposed Rule Change Received From                                                                              information that you wish to make
                                                    Members, Participants, or Others                        Comments may be submitted by any of
                                                                                                            the following methods:                                  available publicly. All submissions
                                                      No written comments were solicited                                                                            should refer to File Number SR–
                                                    or received with respect to the proposed                   14 In addition, Rule 19b–4(f)(6)(iii) requires the   NYSEMKT–2016–27 and should be
                                                    rule change.                                            Exchange to give the Commission written notice of       submitted on or before March 21, 2016.
                                                    III. Date of Effectiveness of the                       the Exchange’s intent to file the proposed rule
                                                                                                            change, along with a brief description and text of
                                                                                                                                                                      For the Commission, by the Division of
                                                    Proposed Rule Change and Timing for                     the proposed rule change, at least five business days   Trading and Markets, pursuant to delegated
                                                    Commission Action                                       prior to the date of filing of the proposed rule        authority.19
                                                                                                            change, or such shorter time as designated by the
                                                       Because the proposed rule change                                                                             Robert W. Errett,
asabaliauskas on DSK5VPTVN1PROD with NOTICES




                                                                                                            Commission. The Exchange has satisfied this
                                                    does not: (i) Significantly affect the                  requirement.                                            Deputy Secretary.
                                                    protection of investors or the public                      15 17 CFR 240.19b–4(f)(6).
                                                                                                                                                                    [FR Doc. 2016–04248 Filed 2–26–16; 8:45 am]
                                                    interest; (ii) impose any significant                      16 17 CFR 240.19b–4(f)(6)(iii).
                                                                                                                                                                    BILLING CODE 8011–01–P
                                                    burden on competition; and (iii) become                    17 For purposes only of waiving the 30-day

                                                    operative prior to 30 days from the date                operative delay, the Commission has also
                                                                                                            considered the proposed rule’s impact on
                                                    on which it was filed, or such shorter                  efficiency, competition, and capital formation. See
                                                    time as the Commission may designate,                   15 U.S.C. 78c(f).
                                                    if consistent with the protection of                       18 15 U.S.C. 78s(b)(2)(B).                             19 17   CFR 200.30–3(a)(12).



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Document Created: 2016-02-27 02:05:26
Document Modified: 2016-02-27 02:05:26
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 10308 

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