81_FR_3218 81 FR 3206 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule

81 FR 3206 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 12 (January 20, 2016)

Page Range3206-3207
FR Document2016-00971

Federal Register, Volume 81 Issue 12 (Wednesday, January 20, 2016)
[Federal Register Volume 81, Number 12 (Wednesday, January 20, 2016)]
[Notices]
[Pages 3206-3207]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00971]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76892; File No. SR-MIAX-2016-01]


Self-Regulatory Organizations; Miami International Securities 
Exchange LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend Its Fee Schedule

January 13, 2016.
    Pursuant to the provisions of Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice 
is hereby given that on January 12, 2016, Miami International 
Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the 
Securities and Exchange Commission (``Commission'') a proposed rule 
change as described in Items I, II, and III below, which Items have 
been prepared by the Exchange. 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\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is filing a proposal to amend the MIAX Options Fee 
Schedule (``Fee Schedule'') to eliminate certain Web CRD Fees which 
relate to Series 56 and will no longer apply from and after January 4, 
2016 and to include certain Web CRD Fees which relate to Series 57 and 
Web-based delivery of continuing education that will apply from and 
after January 4, 2016.
    The text of the proposed rule change is available on the Exchange's 
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at 
MIAX's principal office, 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 Exchange 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 proposed rule change is to amend the Fee 
Schedule to delete the Continuing Education Fees and the Qualification 
Examination Fee which relate to the Series 56 registration category 
under the Regulatory Fees section of the Fee Schedule. The Financial 
Industry Regulatory Authority (``FINRA'') is retiring the Proprietary 
Traders Qualification Examination (Series 56) and the S501 Proprietary 
Traders Continuing Education Program and replacing them with the 
Securities Trader Qualification Examination (Series 57) and the S101 
Continuing Education Program, including via Web-based delivery.\3\
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    \3\ See Securities Exchange Act Release Nos. 75783 (August 28, 
2015), 80 FR 53369 (September 3, 2015) (approving SR-FINRA-2015-017) 
and 75581 (July 31, 2015), 80 FR 47018 (August 6, 2015) (approving 
SR-FINRA-2015-015) collectively referred to herein as the ``FINRA 
Amendments''. According to the approval orders, FINRA's expected 
effective date for the FINRA Amendments is January 4, 2016.
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    Specifically, the Exchange proposes to delete the (i) $60.00 
Continuing Education Fee for Series 56 and (ii) $195.00 Series 56 
Examination Fee. The Exchange also proposes to delete the phrase 
``except the Series 56'' with respect to the $100.00 Continuing 
Education Fee for All Registrations except the Series 56. The Exchange 
further proposes to add a (i) $55.00 Continuing Education Fee for All 
Registrations if Web-based and (ii) $120.00 Series 57 Examination Fee.
    MIAX is proposing such Fee Schedule amendments in consultation with 
FINRA and the other exchanges, and anticipates that the other exchanges 
will make corresponding changes to their respective fee schedules.\4\
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    \4\ See Securities Exchange Act Release Nos. 76391 (November 9, 
2015), 80 FR 70862 (November 16, 2015) (SR-FINRA-2015-044) and 75581 
(July 31, 2015), 80 FR 47018 (August 6, 2015) (SR-FINRA-2015-015).
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Background
    MIAX has amended its rules to establish the Securities Trader and 
Securities Trader Principal registration categories, to establish the 
Series 57 examination as the appropriate qualification examination for 
Securities Traders and retire the Series 56 examination for Proprietary 
Traders, and to establish S101 as the appropriate continuing education 
program for Securities Traders and retire the S501 continuing education 
program for Proprietary Traders, from and after January 4, 2016. The 
Exchange also amended its rules to provide for Web-based delivery of 
the continuing education Regulatory Element for registered persons from 
and after January 4, 2016.\5\
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    \5\ See Securities Exchange Act Release No. 76691 (December 18, 
2015), 80 FR 80425 (December 24, 2015) (SR-MIAX-2015-71).
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    In accordance with MIAX's amended rules relating to the new 
Securities Trader registration category, individual Members and 
associated persons of Members \6\ engaged in proprietary trading, the 
execution of transactions on an agency basis, or the direct supervision 
of such activities, with respect to transactions in equity, preferred 
or convertible debt securities, or foreign currency options on the 
Exchange, will be required to register with the Exchange as Securities 
Traders and be qualified by passing the new Securities Trader 
qualification examination (Series 57) being implemented by FINRA, 
unless grandfathered as provided for in the Rules. In addition, the 
Series 57 examination replaces the Series 56 examination for those 
exchange registration categories, such as the Proprietary Trader 
Principal registration category, where the Series 56 examination is 
currently an acceptable prerequisite.\7\
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    \6\ Other than any person associated with a Member whose trading 
activities are conducted principally on behalf of an investment 
company that is registered with the Commission pursuant to the 
Investment Company Act of 1940 and that controls, is controlled by 
or is under common control, with the Member. See id.
    \7\ See supra note 5. These amended rules will become effective 
as of January 4, 2016.
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    The Exchange has further amended its Rules, in consultation with 
FINRA and the other exchanges, to provide for Web-based delivery of the 
CE Regulatory Element for registered persons. The personalized S101 CE 
Program will be the required CE Program for all registered persons 
including Securities Traders.\8\
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    \8\ Id.
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Proposal
    The Exchange proposes to amend its Fee Schedule to delete the (i) 
$60.00 Continuing Education Fee for Series 56, (ii) $195.00 Series 56 
Examination Fee, and (iii) the phrase ``except the Series 56'' with 
respect to the $100.00 Continuing Education Fee for All

[[Page 3207]]

Registrations except the Series 56, since such CE fee will become 
applicable to all registration categories without exception. The 
Exchange further proposes to add a (i) $55.00 Continuing Education Fee 
for All Registrations which will be applicable for Web-based delivery 
of the CE Regulatory Element for registered persons, and (ii) $120.00 
Series 57 Examination Fee which will be applicable with respect to the 
new Securities Trader Qualification Examination (Series 57).
    The $100.00 fee charged for administration of the S101 CE program 
applicable to registrants required to take examinations other than the 
Series 56 will remain in effect, and become applicable to all 
registrants, if a CE session is conducted at a testing center from 
January 4, 2016 through no later than six months thereafter when the CE 
program will no longer be offered at testing centers. A new $55.00 fee 
will be applicable to all registrants from and after January 4, 2016 
for Web-based administration of the S101 CE program. The $195.00 fee 
currently charged for the Series 56 examination will be replaced with a 
$120.00 fee for the Series 57 examination from and after January 4, 
2016. Therefore, the Exchange is proposing to add the $55.00 Web-based 
delivery CE fee and $120.00 Series 57 examination fee to the current 
Fee Schedule. Additionally, the $60.00 fee currently charged for 
administration of the S501 CE Program applicable to Series 56 is being 
retired from and after January 4, 2016. Therefore, the Exchange is 
proposing to delete both the $195.00 Series 56 examination fee and 
$60.00 S501 CE fee from the current Fee Schedule.
    Since the Series 57 and the S101 CE Program will fall within 
FINRA's jurisdiction, the related fees will be billed directly through 
FINRA commencing as of January 4, 2016.\9\
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    \9\ See supra note 4.
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2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule 
is consistent with Section 6(b) of the Act \10\ in general, and 
furthers the objectives of Section 6(b)(4) of the Act \11\ in 
particular, in that it is an equitable allocation of reasonable fees 
and other charges among Exchange members and issuers and other persons 
using its facilities.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposal is fair, equitable and not 
unreasonably discriminatory because the fee change applies equally to 
all Members and persons associated with Members. The proposed deletion 
of the S501 Continuing Education Fees and Series 56 Qualification 
Examination Fee is further reasonable because such CE program and exam 
will be replaced by the S101 CE program (including via Web-based 
delivery) and Series 57 Qualification Examination program. In addition, 
the Exchange believes that the fees added to the Fee Schedule and 
amended fee are equitably allocated and not unfairly discriminatory as 
they will apply uniformly to all Members and persons associated with 
the Members who choose [sic] to take the Series 57 examination and 
participate in the continuing education program through FINRA.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
result in any burden on competition that is not necessary or 
appropriate in furtherance of the purposes of the Act. The Exchange 
further believes that the proposal does not impose any burden on 
competition because it believes that the other exchanges will also be 
making the same changes to their fee schedules.\12\
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    \12\ See supra notes 3 and 4.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act,\13\ and Rule 19b-4(f)(2) \14\ thereunder. 
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.
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    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \14\ 17 CFR 240.19b-4(f)(2).
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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-MIAX-2016-01 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-MIAX-2016-01. 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-MIAX-2016-01 and 
should be submitted on or before February 10, 2016.
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    \15\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-00971 Filed 1-19-16; 8:45 am]
BILLING CODE 8011-01-P



                                              3206                          Federal Register / Vol. 81, No. 12 / Wednesday, January 20, 2016 / Notices

                                              contact the Office of the Secretary at                     proposed rule change. The text of these                Traders and retire the Series 56
                                              (202) 551–5400.                                            statements may be examined at the                      examination for Proprietary Traders,
                                                Dated: January 14, 2016.                                 places specified in Item IV below. The                 and to establish S101 as the appropriate
                                              Brent J. Fields,                                           Exchange has prepared summaries, set                   continuing education program for
                                                                                                         forth in sections A, B, and C below, of                Securities Traders and retire the S501
                                              Secretary.
                                                                                                         the most significant aspects of such                   continuing education program for
                                              [FR Doc. 2016–01130 Filed 1–15–16; 4:15 pm]
                                                                                                         statements.                                            Proprietary Traders, from and after
                                              BILLING CODE 8011–01–P
                                                                                                                                                                January 4, 2016. The Exchange also
                                                                                                         A. Self-Regulatory Organization’s
                                                                                                                                                                amended its rules to provide for Web-
                                                                                                         Statement of the Purpose of, and
                                                                                                                                                                based delivery of the continuing
                                              SECURITIES AND EXCHANGE                                    Statutory Basis for, the Proposed Rule
                                                                                                                                                                education Regulatory Element for
                                              COMMISSION                                                 Change
                                                                                                                                                                registered persons from and after
                                              [Release No. 34–76892; File No. SR–MIAX–                   1. Purpose                                             January 4, 2016.5
                                              2016–01]
                                                                                                            The purpose of the proposed rule                       In accordance with MIAX’s amended
                                                                                                         change is to amend the Fee Schedule to                 rules relating to the new Securities
                                              Self-Regulatory Organizations; Miami                                                                              Trader registration category, individual
                                              International Securities Exchange LLC;                     delete the Continuing Education Fees
                                                                                                         and the Qualification Examination Fee                  Members and associated persons of
                                              Notice of Filing and Immediate                                                                                    Members 6 engaged in proprietary
                                              Effectiveness of a Proposed Rule                           which relate to the Series 56 registration
                                                                                                         category under the Regulatory Fees                     trading, the execution of transactions on
                                              Change To Amend Its Fee Schedule                                                                                  an agency basis, or the direct
                                                                                                         section of the Fee Schedule. The
                                              January 13, 2016.                                          Financial Industry Regulatory Authority                supervision of such activities, with
                                                 Pursuant to the provisions of Section                   (‘‘FINRA’’) is retiring the Proprietary                respect to transactions in equity,
                                              19(b)(1) of the Securities Exchange Act                    Traders Qualification Examination                      preferred or convertible debt securities,
                                              of 1934 (‘‘Act’’) 1 and Rule 19b–4                         (Series 56) and the S501 Proprietary                   or foreign currency options on the
                                              thereunder,2 notice is hereby given that                   Traders Continuing Education Program                   Exchange, will be required to register
                                              on January 12, 2016, Miami                                 and replacing them with the Securities                 with the Exchange as Securities Traders
                                              International Securities Exchange LLC                      Trader Qualification Examination                       and be qualified by passing the new
                                              (‘‘MIAX’’ or ‘‘Exchange’’) filed with the                  (Series 57) and the S101 Continuing                    Securities Trader qualification
                                              Securities and Exchange Commission                         Education Program, including via Web-                  examination (Series 57) being
                                              (‘‘Commission’’) a proposed rule change                    based delivery.3                                       implemented by FINRA, unless
                                              as described in Items I, II, and III below,                   Specifically, the Exchange proposes to              grandfathered as provided for in the
                                              which Items have been prepared by the                      delete the (i) $60.00 Continuing                       Rules. In addition, the Series 57
                                              Exchange. The Commission is                                Education Fee for Series 56 and (ii)                   examination replaces the Series 56
                                              publishing this notice to solicit                          $195.00 Series 56 Examination Fee. The                 examination for those exchange
                                              comments on the proposed rule change                       Exchange also proposes to delete the                   registration categories, such as the
                                              from interested persons.                                   phrase ‘‘except the Series 56’’ with                   Proprietary Trader Principal registration
                                                                                                         respect to the $100.00 Continuing                      category, where the Series 56
                                              I. Self-Regulatory Organization’s                                                                                 examination is currently an acceptable
                                                                                                         Education Fee for All Registrations
                                              Statement of the Terms of Substance of                                                                            prerequisite.7
                                                                                                         except the Series 56. The Exchange
                                              the Proposed Rule Change                                                                                             The Exchange has further amended its
                                                                                                         further proposes to add a (i) $55.00
                                                 The Exchange is filing a proposal to                    Continuing Education Fee for All                       Rules, in consultation with FINRA and
                                              amend the MIAX Options Fee Schedule                        Registrations if Web-based and (ii)                    the other exchanges, to provide for Web-
                                              (‘‘Fee Schedule’’) to eliminate certain                    $120.00 Series 57 Examination Fee.                     based delivery of the CE Regulatory
                                              Web CRD Fees which relate to Series 56                        MIAX is proposing such Fee Schedule                 Element for registered persons. The
                                              and will no longer apply from and after                    amendments in consultation with                        personalized S101 CE Program will be
                                              January 4, 2016 and to include certain                     FINRA and the other exchanges, and                     the required CE Program for all
                                              Web CRD Fees which relate to Series 57                     anticipates that the other exchanges will              registered persons including Securities
                                              and Web-based delivery of continuing                       make corresponding changes to their                    Traders.8
                                              education that will apply from and after                   respective fee schedules.4                             Proposal
                                              January 4, 2016.
                                                 The text of the proposed rule change                    Background                                                The Exchange proposes to amend its
                                              is available on the Exchange’s Web site                      MIAX has amended its rules to                        Fee Schedule to delete the (i) $60.00
                                              at http://www.miaxoptions.com/filter/                      establish the Securities Trader and                    Continuing Education Fee for Series 56,
                                              wotitle/rule_filing, at MIAX’s principal                   Securities Trader Principal registration               (ii) $195.00 Series 56 Examination Fee,
                                              office, and at the Commission’s Public                     categories, to establish the Series 57                 and (iii) the phrase ‘‘except the Series
                                              Reference Room.                                            examination as the appropriate                         56’’ with respect to the $100.00
                                                                                                         qualification examination for Securities               Continuing Education Fee for All
                                              II. Self-Regulatory Organization’s
                                              Statement of the Purpose of, and                             3 See Securities Exchange Act Release Nos. 75783       5 See Securities Exchange Act Release No. 76691

                                              Statutory Basis for, the Proposed Rule                     (August 28, 2015), 80 FR 53369 (September 3, 2015)     (December 18, 2015), 80 FR 80425 (December 24,
                                              Change                                                     (approving SR–FINRA–2015–017) and 75581 (July          2015) (SR–MIAX–2015–71).
                                                                                                                                                                  6 Other than any person associated with a
                                                                                                         31, 2015), 80 FR 47018 (August 6, 2015) (approving
                                                 In its filing with the Commission, the                  SR–FINRA–2015–015) collectively referred to            Member whose trading activities are conducted
tkelley on DSK4VPTVN1PROD with NOTICES




                                              Exchange included statements                               herein as the ‘‘FINRA Amendments’’. According to       principally on behalf of an investment company
                                              concerning the purpose of and basis for                    the approval orders, FINRA’s expected effective        that is registered with the Commission pursuant to
                                                                                                         date for the FINRA Amendments is January 4, 2016.      the Investment Company Act of 1940 and that
                                              the proposed rule change and discussed                                                                            controls, is controlled by or is under common
                                                                                                           4 See Securities Exchange Act Release Nos. 76391
                                              any comments it received on the                            (November 9, 2015), 80 FR 70862 (November 16,          control, with the Member. See id.
                                                                                                                                                                  7 See supra note 5. These amended rules will
                                                                                                         2015) (SR–FINRA–2015–044) and 75581 (July 31,
                                                1 15   U.S.C. 78s(b)(1).                                                                                        become effective as of January 4, 2016.
                                                                                                         2015), 80 FR 47018 (August 6, 2015) (SR–FINRA–
                                                2 17   CFR 240.19b–4.                                    2015–015).                                               8 Id.




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                                                                          Federal Register / Vol. 81, No. 12 / Wednesday, January 20, 2016 / Notices                                                   3207

                                              Registrations except the Series 56, since                Members and persons associated with                    arguments concerning the foregoing,
                                              such CE fee will become applicable to                    Members. The proposed deletion of the                  including whether the proposed rule
                                              all registration categories without                      S501 Continuing Education Fees and                     change is consistent with the Act.
                                              exception. The Exchange further                          Series 56 Qualification Examination Fee                Comments may be submitted by any of
                                              proposes to add a (i) $55.00 Continuing                  is further reasonable because such CE                  the following methods:
                                              Education Fee for All Registrations                      program and exam will be replaced by
                                              which will be applicable for Web-based                                                                          Electronic Comments
                                                                                                       the S101 CE program (including via
                                              delivery of the CE Regulatory Element                    Web-based delivery) and Series 57                        • Use the Commission’s Internet
                                              for registered persons, and (ii) $120.00                 Qualification Examination program. In                  comment form (http://www.sec.gov/
                                              Series 57 Examination Fee which will                     addition, the Exchange believes that the               rules/sro.shtml); or
                                              be applicable with respect to the new                    fees added to the Fee Schedule and                       • Send an email to rule-comments@
                                              Securities Trader Qualification                          amended fee are equitably allocated and                sec.gov. Please include File Number SR–
                                              Examination (Series 57).                                 not unfairly discriminatory as they will               MIAX–2016–01 on the subject line.
                                                 The $100.00 fee charged for                           apply uniformly to all Members and                     Paper Comments
                                              administration of the S101 CE program                    persons associated with the Members
                                              applicable to registrants required to take               who choose [sic] to take the Series 57                    • Send paper comments in triplicate
                                              examinations other than the Series 56                    examination and participate in the                     to Brent J. Fields, Secretary, Securities
                                              will remain in effect, and become                        continuing education program through                   and Exchange Commission, 100 F Street
                                              applicable to all registrants, if a CE                   FINRA.                                                 NE., Washington, DC 20549–1090.
                                              session is conducted at a testing center                                                                        All submissions should refer to File
                                              from January 4, 2016 through no later                    B. Self-Regulatory Organization’s                      Number SR–MIAX–2016–01. This file
                                              than six months thereafter when the CE                   Statement on Burden on Competition                     number should be included on the
                                              program will no longer be offered at                       The Exchange does not believe that                   subject line if email is used. To help the
                                              testing centers. A new $55.00 fee will be                the proposed rule change will result in                Commission process and review your
                                              applicable to all registrants from and                   any burden on competition that is not                  comments more efficiently, please use
                                              after January 4, 2016 for Web-based                      necessary or appropriate in furtherance                only one method. The Commission will
                                              administration of the S101 CE program.                   of the purposes of the Act. The                        post all comments on the Commission’s
                                              The $195.00 fee currently charged for                    Exchange further believes that the                     Internet Web site (http://www.sec.gov/
                                              the Series 56 examination will be                        proposal does not impose any burden                    rules/sro.shtml).
                                              replaced with a $120.00 fee for the                      on competition because it believes that                   Copies of the submission, all
                                              Series 57 examination from and after                     the other exchanges will also be making                subsequent amendments, all written
                                              January 4, 2016. Therefore, the                          the same changes to their fee                          statements with respect to the proposed
                                              Exchange is proposing to add the $55.00                  schedules.12                                           rule change that are filed with the
                                              Web-based delivery CE fee and $120.00                                                                           Commission, and all written
                                              Series 57 examination fee to the current                 C. Self-Regulatory Organization’s                      communications relating to the
                                              Fee Schedule. Additionally, the $60.00                   Statement on Comments on the                           proposed rule change between the
                                              fee currently charged for administration                 Proposed Rule Change Received From                     Commission and any person, other than
                                              of the S501 CE Program applicable to                     Members, Participants, or Others                       those that may be withheld from the
                                              Series 56 is being retired from and after                  Written comments were neither                        public in accordance with the
                                              January 4, 2016. Therefore, the                          solicited nor received.                                provisions of 5 U.S.C. 552, will be
                                              Exchange is proposing to delete both the                 III. Date of Effectiveness of the                      available for Web site viewing and
                                              $195.00 Series 56 examination fee and                    Proposed Rule Change and Timing for                    printing in the Commission’s Public
                                              $60.00 S501 CE fee from the current Fee                  Commission Action                                      Reference Room, 100 F Street NE.,
                                              Schedule.                                                                                                       Washington, DC 20549, on official
                                                 Since the Series 57 and the S101 CE                      The foregoing rule change has become                business days between the hours of
                                              Program will fall within FINRA’s                         effective pursuant to Section                          10:00 a.m. and 3:00 p.m. Copies of the
                                              jurisdiction, the related fees will be                   19(b)(3)(A)(ii) of the Act,13 and Rule                 filing also will be available for
                                              billed directly through FINRA                            19b–4(f)(2) 14 thereunder. At any time                 inspection and copying at the principal
                                              commencing as of January 4, 2016.9                       within 60 days of the filing of the                    office of the Exchange. All comments
                                                                                                       proposed rule change, the Commission                   received will be posted without change;
                                              2. Statutory Basis                                       summarily may temporarily suspend                      the Commission does not edit personal
                                                 The Exchange believes that its                        such rule change if it appears to the                  identifying information from
                                              proposal to amend its Fee Schedule is                    Commission that such action is                         submissions. You should submit only
                                              consistent with Section 6(b) of the Act 10               necessary or appropriate in the public                 information that you wish to make
                                              in general, and furthers the objectives of               interest, for the protection of investors,             available publicly.
                                              Section 6(b)(4) of the Act 11 in                         or otherwise in furtherance of the                        All submissions should refer to File
                                              particular, in that it is an equitable                   purposes of the Act. If the Commission                 Number SR–MIAX–2016–01 and should
                                              allocation of reasonable fees and other                  takes such action, the Commission shall                be submitted on or before February 10,
                                              charges among Exchange members and                       institute proceedings to determine                     2016.
                                              issuers and other persons using its                      whether the proposed rule should be
                                                                                                                                                                For the Commission, by the Division of
                                              facilities.                                              approved or disapproved.                               Trading and Markets, pursuant to delegated
                                                 The Exchange believes that the                                                                               authority.15
tkelley on DSK4VPTVN1PROD with NOTICES




                                              proposal is fair, equitable and not                      IV. Solicitation of Comments
                                                                                                                                                              Robert W. Errett,
                                              unreasonably discriminatory because                        Interested persons are invited to
                                              the fee change applies equally to all                    submit written data, views, and                        Deputy Secretary.
                                                                                                                                                              [FR Doc. 2016–00971 Filed 1–19–16; 8:45 am]
                                                9 See supra note 4.                                      12 See supra notes 3 and 4.                          BILLING CODE 8011–01–P
                                                10 15 U.S.C. 78f(b).                                     13 15 U.S.C. 78s(b)(3)(A)(ii).
                                                11 15 U.S.C. 78f(b)(4).                                  14 17 CFR 240.19b–4(f)(2).                             15 17   CFR 200.30–3(a)(12).



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Document Created: 2016-01-19 23:43:42
Document Modified: 2016-01-19 23:43:42
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 3206 

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