81 FR 1457 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, To Adopt Rule 8.17 To Provide a Process for an Expedited Client Suspension Proceeding and Rule 12.15 To Prohibit Disruptive Quoting and Trading Activity

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 7 (January 12, 2016)

[Federal Register Volume 81, Number 7 (Tuesday, January 12, 2016)]
[Notices]
[Pages 1457-1458]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00336]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76841; File No. SR-BATS-2015-101]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 1 Thereto, To Adopt Rule 8.17 To 
Provide a Process for an Expedited Client Suspension Proceeding and 
Rule 12.15 To Prohibit Disruptive Quoting and Trading Activity

January 6, 2016.
    On November 6, 2015, BATS Exchange, Inc. (``Exchange'') 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 adopt new BATS 
Rule (``Rule'') 12.15, which would prohibit certain disruptive quoting 
and trading activity on the Exchange, and new Rule 8.17, which would 
permit BATS to conduct a new Expedited Client Suspension Proceeding 
when it believes

[[Page 1458]]

proposed Rule 12.15 has been violated.\3\ On November 17, 2015, the 
Exchange filed Amendment No. 1 to the proposal.\4\ The proposed rule 
change, as modified by Amendment No. 1, was published for comment in 
the Federal Register on November 24, 2015.\5\ The Commission received 
four comments on the proposal.\6\
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ This proposed rule change is a revised version of a prior 
filing, BATS-2015-57, which the Exchange withdrew and revised in 
order to address certain issues raised by comments submitted with 
respect to BATS-2015-57. See Securities Exchange Act Release No. 
76393 (November 9, 2015), 80 FR 70851 (November 16, 2015) (BATS-
2015-57) (noticing the withdrawal of BATS-2015-57).
    \4\ Amendment No. 1 amended and replaced the original proposal 
in its entirety.
    \5\ See Securities Exchange Act Release No. 76470 (November 18, 
2015), 80 FR 73247 (``Notice'').
    \6\ See letters from: R.T. Leuchtkafer to Brent J. Fields, 
Secretary, Commission, dated December, 14, 2015; Rick A. Fleming, 
Investor Advocate, Commission, to U.S. Securities and Exchange 
Commission, dated December 15, 2015; Samuel F. Lek, Chief Executive 
Officer, Lek Securities Corporation, dated December 28, 2015; G.T. 
Spaulding to Brent J. Fields, Secretary, Commission, dated December, 
28, 2015.
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    Section 19(b)(2) of the Act \7\ provides that, within 45 days of 
the publication of the notice of the filing of a proposed rule change, 
or within such longer period up to 90 days as the Commission may 
designate if it finds such longer period to be appropriate and 
publishes its reasons for so finding, or as to which the self-
regulatory organization consents, the Commission shall either approve 
the proposed rule change, disapprove the proposed rule change, or 
institute proceedings to determine whether the proposed rule change 
should be disapproved. The 45th day for this filing is January 8, 2016. 
The Commission is extending this 45-day time period.
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    \7\ 15 U.S.C. 78s(b)(2).
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    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 proposed rule change and the 
comments received. Accordingly, the Commission, pursuant to section 
19(b)(2) of the Act,\8\ designates February 22, 2016 as the date by 
which the Commission should either approve or disapprove or institute 
proceedings to determine whether to disapprove the proposed rule change 
(File Number SR-BATS-2015-101).
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    \8\ Id.
    \9\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-00336 Filed 1-11-16; 8:45 am]
BILLING CODE 8011-01-P