81 FR 16248 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Eliminate the Strict Concentration Limits on Primary Market Makers
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 58 (March 25, 2016)
Federal Register Volume 81, Issue 58 (March 25, 2016)
| Page Range | 16248-16250 | |
| FR Document | 2016-06745 |
[Federal Register Volume 81, Number 58 (Friday, March 25, 2016)] [Notices] [Pages 16248-16250] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-06745] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77410; File No. SR-ISE-2016-07] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Eliminate the Strict Concentration Limits on Primary Market Makers March 21, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on March 15, 2016, the International Securities Exchange, LLC (the ``Exchange'' or the ``ISE'') filed with the Securities and Exchange 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change ISE proposes to eliminate the 30% strict cap on the number of Primary Market Maker (``PMM'') memberships that the ISE's Board of Directors (the ``Board'') can approve for an ISE member to operate. The text of the proposed rule change is available on the Exchange's Web site at www.ise.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 these 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 aspects 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 the proposal is to eliminate the 30% strict cap on the number of PMM memberships that the Board can approve for an ISE member to operate.\3\ ISE Rule 303(b) currently requires the Board show ``good cause'' to approve any PMM membership that would result in the PMM operating trading privileges associated with more than one PMM membership. The Board may waive the limitations contained in this rule if it determines that good cause has been shown and such action is, in its judgment, in the best interests of the Exchange.\4\ The Board is not permitted, [[Page 16249]] however, to grant this approval if the member and its affiliates would, as a result, be approved to exercise trading privileges associated with more than 30% of all outstanding PMM memberships.\5\ Section 6.5(b) of ISE's Third Amended and Restated Limited Liability Company Agreement (the ``LLC Agreement'') contains the same 30% strict cap as Rule 303(b). This limitation on exercising PMM trading privileges is in addition to ownership and voting limitations in the LLC Agreement and in the Exchange's rules that prohibit any member from owning (or voting the shares representing) more than 20% of any class of membership.\6\ --------------------------------------------------------------------------- \3\ A PMM serves a function similar to that of a specialist on other exchanges. Among other things, a PMM must provide continuous quotations in all assigned options classes. See Rule 804(e)(1); Supplementary Material .01 to Rule 804. There are currently 10 outstanding PMM memberships authorized and issued by the Exchange under its Third Amended and Restated LLC Agreement (the ``LLC Agreement''). See LLC Agreement, Section 6.1(a). \4\ When making its determination whether good cause has been shown to waive the limitations contained in this rule, the Board must consider whether an operational, business or regulatory need to exceed the limits has been demonstrated, and in those cases where such a need is demonstrated, the Board must also consider any operational, business or regulatory concerns may be raised if such a waiver were granted. See Supplementary Material .01 to Rule 303. \5\ In 2006, the Commission approved an ISE proposal to increase the maximum number of PMM memberships that an ISE member may operate from two to three PMM memberships. See Securities Exchange Act Release No. 53271 (February 10, 2006), 71 FR 8625 (February 17, 2006) (SR-ISE-2005-46) (Approval Order). \6\ See LLC Agreement, Section 6.5(a); Supplementary Material .02 to Rule 303. The Exchange is not proposing any changes to the ownership and voting limitations. --------------------------------------------------------------------------- Due to the continued concentration and specialization in the options market making community, and the decreasing number of market makers available to operate these memberships, the Exchange is proposing to eliminate the 30% cap on the number of PMM memberships that the Board can approve for a member to operate. As the number of market makers decreases, the Exchange is concerned that there may not be a sufficient number of members qualified to be PMMs if the Exchange retains the current 30% cap (thus limiting a member to operating three PMM memberships). The options markets are highly competitive, and each exchange actively seeks to attract order flow by disseminating tight and liquid markets and by providing a high level of customer satisfaction. Ensuring that the Exchange has high quality PMMs is critical in this competitive battle. The Exchange believes that the proposed approach is consistent with treatment on other markets that do not have strict market maker concentration limits, and will enable the Board to approve members to operate multiple PMM memberships after the Board determines that good cause has been shown and if doing so would be in the best interest of the Exchange. The Commission has previously approved rule changes that eliminated mandatory caps on the number of issues that may be allocated to market makers on other markets, such as on Pacific Exchange, Inc. (``PCX'') (n/k/a ``NYSE Arca''), where the Commission approved a rule change by PCX to eliminate its Lead Market Maker (``LMM'') concentration limit of 15% of the issues traded on the PCX options floor.\7\ There, the Commission noted that PCX's concentration limits served the purpose of minimizing the disturbance to a fair and orderly market that may otherwise result from the failure of an LMM. However, the Commission also noted that other exchanges did not impose specified mandatory limits on the number of options that may be allocated to specialists, citing to the rules of the Chicago Board Options Exchange (``CBOE'').\8\ In addition, the Commission has previously granted registration to new exchanges that do not have similar concentration limits.\9\ --------------------------------------------------------------------------- \7\ See Securities Exchange Act Release Nos. 47795 (May 5, 2003), 68 FR 25074 (May 9, 2003) (Notice); 48029 (June 13, 2003), 68 FR 37187 (June 23, 2003) (SR-PCX-2002-25) (Approval Order). \8\ See CBOE Rule 8.84 (Rule 8.84 does not impose a mandatory cap on the number of issues that may be allocated to a Designated Primary Market-Maker (``DPM''). \9\ See MIAX Options Exchange (``MIAX'') Rules. --------------------------------------------------------------------------- The Exchange recognizes that increasing the number of PMM memberships a member can operate could raise issues regarding concentration of market making expertise. In this regard, the proposed rule change is only an enabling rule. With the proposed change, the Board will still be required to show good cause to approve any member to operate more than one PMM membership, and could consider the number of memberships already by the member in determining whether or not there is good cause shown. Thus, the Board will need to weigh each potential application on its own merits, balancing the potential benefits of allowing a member to exercise more than one PMM membership against any potential concentration concerns. The Board would not be prohibited under the rules and under the LLC Agreement, however, from approving PMMs to operate more than a specified percentage of outstanding memberships. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b) of the Act.\10\ In particular, the proposal is consistent with Section 6(b)(5) of the Act,\11\ because it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The options industry continues to experience a consolidation and decrease in the number of market makers and therefore, the Exchange is proposing a rule change that would eliminate the 30% PMM cap and would allow the Board the flexibility to approve or deny each potential PMM application based upon its determination of whether good cause had been shown and if doing so would be in the best interest of the Exchange. Also as noted above, the Commission has previously approved rule changes eliminating mandatory caps on the number of issues that may be allocated to market makers on other markets, and has granted registration to new exchanges that do not have similar concentration limits. The Exchange therefore believes that the proposed rule change is designed to remove impediments to and perfect the mechanisms of a free and open market and a national market system. Furthermore, this proposed rule change would not amend the current prohibitions in the LLC Agreement and in the Exchange's rules against a member owning or voting more than 20% of any class of membership. Thus, the only way a member could operate more than 30% of all outstanding PMM memberships would be to lease such membership, with the lease providing that the lessor retains all voting rights.\12\ --------------------------------------------------------------------------- \12\ See ISE Second A&R Constitution, Section 12.4; Supplementary Material .02 to Rule 303. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\13\ the Exchange does not believe that the proposed rule change will impose any burden on intermarket or intramarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, the Exchange believes that the proposed rule change will increase competition among market makers to be approved as a PMM on the Exchange, thus allowing the Exchange to choose the most qualified PMM that will provide the Exchange with strong market making capabilities. Also as noted above, other markets do not have [[Page 16250]] comparable mandatory caps or concentration limits, so eliminating the 30% PMM cap will bring the Exchange's rules in line with its competitors. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on this proposed rule change. The Exchange has not received any written comments from members or other interested parties. 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 for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \14\ and Rule 19b-4(f)(6) thereunder.\15\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the 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 asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposed rule change operative upon filing.\16\ As noted above, the Exchange states that waiver of this requirement will allow the Exchange to immediately remove the 30% cap and align its rules with other competing options markets that do not have comparable restrictions. The Exchange also notes that the proposed rule change preserves existing ownership and voting limitations in the LLC Agreement. --------------------------------------------------------------------------- \16\ 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 the 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 to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-ISE-2016-07 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-ISE-2016-07. 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-ISE-2016-07 and should be submitted on or before April 15, 2016. --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ Brent J. Fields, Secretary. [FR Doc. 2016-06745 Filed 3-24-16; 8:45 am] BILLING CODE 8011-01-P
![16248 Federal Register / Vol. 81, No. 58 / Friday, March 25, 2016 / Notices
Agreement’’).1 The Adviser will provide enhanced Board oversight to protect the publishing this notice to solicit
the Funds with continuous and interests of the Funds’ shareholders. comments on the proposed rule change
comprehensive investment management 4. Section 6(c) of the Act provides that from interested persons.
services subject to the supervision of, the Commission may exempt any
person, security, or transaction or any I. Self-Regulatory Organization’s
and policies established by, each Fund’s
class or classes of persons, securities, or Statement of the Terms of Substance of
board of trustees (‘‘Board’’). The
transactions from any provisions of the the Proposed Rule Change
Advisory Agreement permits the
Adviser, subject to the approval of the Act, or any rule thereunder, if such ISE proposes to eliminate the 30%
Board, to delegate to one or more sub- relief is necessary or appropriate in the strict cap on the number of Primary
advisers (each, a ‘‘Sub-Adviser’’ and public interest and consistent with the Market Maker (‘‘PMM’’) memberships
collectively, the ‘‘Sub-Advisers’’) the protection of investors and purposes that the ISE’s Board of Directors (the
responsibility to provide the day-to-day fairly intended by the policy and ‘‘Board’’) can approve for an ISE
portfolio investment management of provisions of the Act. Applicants member to operate. The text of the
each Fund, subject to the supervision believe that the requested relief meets proposed rule change is available on the
and direction of the Adviser. The this standard because, as further Exchange’s Web site at www.ise.com, at
primary responsibility for managing the explained in the Application, the the principal office of the Exchange, and
Funds will remain vested in the Advisory Agreements will remain at the Commission’s Public Reference
Adviser. The Adviser will hire, subject to shareholder approval, while Room.
evaluate, allocate assets to and oversee the role of the Sub-Advisers is II. Self-Regulatory Organization’s
the Sub-Advisers, including substantially similar to that of
Statement of the Purpose of, and
determining whether a Sub-Adviser individual portfolio managers, so that
Statutory Basis for, the Proposed Rule
should be terminated, at all times requiring shareholder approval of Sub-
Change
subject to the authority of the Board. Advisory Agreements would impose
2. Applicants request an exemption to unnecessary delays and expenses on the In its filing with the Commission, the
permit the Adviser, subject to Board Funds. Applicants believe that the self-regulatory organization included
approval, to hire certain Sub-Advisers requested relief from the Disclosure statements concerning the purpose of,
pursuant to Sub-Advisory Agreements Requirements meets this standard and basis for, the proposed rule change
and materially amend existing Sub- because it will improve the Adviser’s and discussed any comments it received
Advisory Agreements without obtaining ability to negotiate fees paid to the Sub- on the proposed rule change. The text
the shareholder approval required under Advisers that are more advantageous for of these statements may be examined at
Section 15(a) of the Act and Rule 18f– the Funds. the places specified in Item IV below.
2 under the Act.2 Applicants also seek For the Commission, by the Division of The Exchange has prepared summaries,
an exemption from the Disclosure Investment Management, under delegated set forth in sections A, B, and C below,
Requirements to permit a Fund to authority. of the most significant aspects of such
disclose (as both a dollar amount and a Brent J. Fields, statements.
percentage of the Fund’s net assets): (a) Secretary. A. Self-Regulatory Organization’s
The aggregate fees paid to the Adviser; [FR Doc. 2016–06748 Filed 3–24–16; 8:45 am] Statement of the Purpose of, and
and (b) the aggregate fees paid to Sub- BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule
Advisers other than Affiliated Sub- Change
Advisers; and (c) the fee paid to each
Affiliated Sub-Adviser (collectively, SECURITIES AND EXCHANGE 1. Purpose
‘‘Aggregate Fee Disclosure’’). COMMISSION The purpose of the proposal is to
3. Applicants agree that any order eliminate the 30% strict cap on the
granting the requested relief will be [Release No. 34–77410; File No. SR–ISE–
2016–07] number of PMM memberships that the
subject to the terms and conditions Board can approve for an ISE member
stated in the Application. Such terms to operate.3 ISE Rule 303(b) currently
Self-Regulatory Organizations;
and conditions provide for, among other requires the Board show ‘‘good cause’’
International Securities Exchange,
safeguards, appropriate disclosure to to approve any PMM membership that
LLC; Notice of Filing and Immediate
Fund shareholders and notification would result in the PMM operating
Effectiveness of Proposed Rule
about sub-advisory changes and trading privileges associated with more
Change To Eliminate the Strict
1 Applicants request relief with respect to any
Concentration Limits on Primary than one PMM membership. The Board
existing and any future series of the Trust and any Market Makers may waive the limitations contained in
other registered open-end management company or this rule if it determines that good cause
series thereof that: (a) Is advised by the Adviser or March 21, 2016. has been shown and such action is, in
its successor or by a person controlling, controlled Pursuant to Section 19(b)(1) of the its judgment, in the best interests of the
by, or under common control with the Adviser or Securities Exchange Act of 1934 (the
its successor (each, also an ‘‘Adviser’’); (b) uses the Exchange.4 The Board is not permitted,
‘‘Act’’),1 and Rule 19b–4 thereunder,2
manager of managers structure described in the
application; and (c) complies with the terms and notice is hereby given that on March 15, 3 A PMM serves a function similar to that of a
conditions of the application (any such series, a 2016, the International Securities specialist on other exchanges. Among other things,
‘‘Fund’’ and collectively, the ‘‘Funds’’). For Exchange, LLC (the ‘‘Exchange’’ or the a PMM must provide continuous quotations in all
purposes of the requested order, ‘‘successor’’ is assigned options classes. See Rule 804(e)(1);
asabaliauskas on DSK3SPTVN1PROD with NOTICES
‘‘ISE’’) filed with the Securities and
limited to an entity that results from a Supplementary Material .01 to Rule 804. There are
reorganization into another jurisdiction or a change Exchange Commission the proposed currently 10 outstanding PMM memberships
in the type of business organization. rule change as described in Items I and authorized and issued by the Exchange under its
2 The requested relief will not extend to any Sub- II below, which Items have been Third Amended and Restated LLC Agreement (the
Adviser that is an affiliated person, as defined in prepared by the self-regulatory ‘‘LLC Agreement’’). See LLC Agreement, Section
Section 2(a)(3) of the Act, of a Fund or the Adviser, 6.1(a).
other than by reason of serving as a sub-adviser to
organization. The Commission is 4 When making its determination whether good
one or more of the Funds, or as an investment cause has been shown to waive the limitations
1 15 U.S.C. 78s(b)(1).
adviser or subadviser to any fund of the Trust other contained in this rule, the Board must consider
than a Fund (‘‘Affiliated Sub-Adviser’’). 2 17 CFR 240.19b–4. whether an operational, business or regulatory need
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![16250 Federal Register / Vol. 81, No. 58 / Friday, March 25, 2016 / Notices
comparable mandatory caps or it appears to the Commission that such 2016–07 and should be submitted on or
concentration limits, so eliminating the action is necessary or appropriate in the before April 15, 2016.
30% PMM cap will bring the Exchange’s public interest, for the protection of For the Commission, by the Division of
rules in line with its competitors. investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated
the purposes of the Act. If the authority.17
C. Self-Regulatory Organization’s Commission takes such action, the
Statement on Comments on the Brent J. Fields,
Commission shall institute proceedings Secretary.
Proposed Rule Change Received From to determine whether the proposed rule
Members, Participants, or Others should be approved or disapproved.
[FR Doc. 2016–06745 Filed 3–24–16; 8:45 am]
BILLING CODE 8011–01–P
The Exchange has neither solicited
IV. Solicitation of Comments
nor received written comments on this
proposed rule change. The Exchange Interested persons are invited to
has not received any written comments submit written data, views and DEPARTMENT OF STATE
from members or other interested arguments concerning the foregoing,
including whether the proposed rule Public Notice; 30-Day Notice of
parties.
change is consistent with the Act. Proposed Information Collection:
III. Date of Effectiveness of the Comments may be submitted by any of Smart Traveler Enrollment Program
Proposed Rule Change and Timing for the following methods:
Commission Action ACTION:Notice of request for public
Electronic Comments comment and submission to OMB of
Because the proposed rule change proposed collection of information.
does not (i) significantly affect the • Use the Commission’s Internet
protection of investors or the public comment form (http://www.sec.gov/ SUMMARY: The Department of State has
interest; (ii) impose any significant rules/sro.shtml); or submitted the information collection
burden on competition; and (iii) become • Send an email to rule-comments@
described below to the Office of
operative for 30 days from the date on sec.gov. Please include File Number SR–
Management and Budget (OMB) for
which it was filed, or such shorter time ISE–2016–07 on the subject line.
approval. In accordance with the
as the Commission may designate, the Paper Comments Paperwork Reduction Act of 1995 we
proposed rule change has become • Send paper comments in triplicate are requesting comments on this
effective pursuant to Section 19(b)(3)(A) to Brent J. Fields, Secretary, Securities collection from all interested
of the Act 14 and Rule 19b–4(f)(6) and Exchange Commission, 100 F Street individuals and organizations. The
thereunder.15 NE., Washington, DC 20549–1090. purpose of this Notice is to allow 30
The Exchange has asked the days for public comment.
All submissions should refer to File
Commission to waive the 30-day DATES: Submit comments directly to the
Number SR–ISE–2016–07. This file
operative delay so that the proposal may Office of Management and Budget
number should be included on the
become operative immediately upon (OMB) up to April 25, 2016.
subject line if email is used. To help the
filing. The Commission believes that
Commission process and review your ADDRESSES: Direct comments to the
waiving the 30-day operative delay is
comments more efficiently, please use Department of State Desk Officer in the
consistent with the protection of
only one method. The Commission will Office of Information and Regulatory
investors and the public interest.
post all comments on the Commission’s Affairs at the Office of Management and
Therefore, the Commission hereby
Internet Web site (http://www.sec.gov/ Budget (OMB). You may submit
waives the operative delay and
rules/sro.shtml). Copies of the comments by the following methods:
designates the proposed rule change • Email: oira_submission@
submission, all subsequent
operative upon filing.16 As noted above, omb.eop.gov. You must include the DS
amendments, all written statements
the Exchange states that waiver of this form number, information collection
with respect to the proposed rule
requirement will allow the Exchange to title, and the OMB control number in
change that are filed with the
immediately remove the 30% cap and the subject line of your message.
Commission, and all written
align its rules with other competing • Fax: 202–395–5806. Attention: Desk
communications relating to the
options markets that do not have Officer for Department of State.
proposed rule change between the
comparable restrictions. The Exchange
Commission and any person, other than FOR FURTHER INFORMATION CONTACT:
also notes that the proposed rule change
those that may be withheld from the Direct requests for additional
preserves existing ownership and voting
public in accordance with the information regarding the collection
limitations in the LLC Agreement.
provisions of 5 U.S.C. 552, will be listed in this notice, including requests
At any time within 60 days of the
available for Web site viewing and for copies of the proposed collection
filing of the proposed rule change, the
printing in the Commission’s Public instrument and supporting documents,
Commission summarily may
Reference Room, 100 F Street NE., to Derek Rivers, Bureau of Consular
temporarily suspend such rule change if
Washington, DC 20549, on official Affairs, Overseas Citizens Services (CA/
14 15 U.S.C. 78s(b)(3)(A).
business days between the hours of OCS/PMO), who may be reached on
15 17 CFR 240.19b–4(f)(6). As required under Rule 10:00 a.m. and 3:00 p.m. Copies of the 202–485–6332 or at RiversDA@state.gov.
19b–4(f)(6)(iii), the Exchange provided the filing also will be available for SUPPLEMENTARY INFORMATION:
Commission with written notice of its intent to file inspection and copying at the principal • Title of Information Collection:
asabaliauskas on DSK3SPTVN1PROD with NOTICES
the proposed rule change, along with a brief office of the Exchange. All comments
description and the text of the proposed rule Smart Traveler Enrollment Program
change, at least five business days prior to the date received will be posted without change; • OMB Control Number: 1405–0152
of filing of the proposed rule change, or such the Commission does not edit personal • Type of Request: Revision of a
shorter time as designated by the Commission. identifying information from Currently Approved Collection
16 For purposes only of waiving the 30-day
submissions. You should submit only • Originating Office: Bureau of
operative delay, the Commission has also
considered the proposed rule’s impact on
information that you wish to make Consular Affairs, CA/OCS/PMO
efficiency, competition, and capital formation. See available publicly. All submissions
15 U.S.C. 78c(f). should refer to File Number SR–ISE– 17 17 CFR 200.30–3(a)(12).
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Document Created: 2018-02-02 15:17:48
Document Modified: 2018-02-02 15:17:48
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 16248 |
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