81_FR_4363 81 FR 4347 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Back-Up Primary Market Makers

81 FR 4347 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Back-Up Primary Market Makers

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 16 (January 26, 2016)

Page Range4347-4349
FR Document2016-01392

Federal Register, Volume 81 Issue 16 (Tuesday, January 26, 2016)
[Federal Register Volume 81, Number 16 (Tuesday, January 26, 2016)]
[Notices]
[Pages 4347-4349]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-01392]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76936; File No. SR-ISE-2016-02]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to Back-Up Primary Market Makers

January 20, 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 January 6, 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, 
II, and III below, which items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 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 ISE proposes to correct, and clarify, .03 of Supplementary 
Material to Rule 803, Obligations of Market Makers, which describes the 
responsibilities and privileges of a Back-Up Primary Market Maker 
(``Back-Up PMM'') that takes the place of a Primary Market Maker 
(``PMM'') when that PMM fails to have a quote in the system. This 
amendment will specify the PMM responsibilities and privileges that do 
not apply to Back-Up PMMs. The text of the proposed rule change is 
available on the Exchange's Web site (http://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 self-regulatory organization 
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 this proposed rule change is to make corrections to, 
and clarify, .03 of Supplementary Material to Rule 803, Obligations of 
Market Makers, which describes the responsibilities and privileges of a 
Back-Up PMM that takes the place of a PMM when that PMM fails to have a 
quote in the system. This amendment will specify the PMM 
responsibilities and privileges that do not apply to Back-Up PMMs.
    In 2006, ISE adopted a rule change that permits Competitive Market 
Makers (``CMMs'') that are also PMMs on the Exchange to voluntarily act 
as Back-Up PMMs when the appointed PMM has technical difficulties that 
interrupt its participation in the market.\3\ Then, in 2015, the 
Exchange amended the process by which a Back-Up PMM is

[[Page 4348]]

chosen to replace a PMM that fails to have a quote in the System.\4\
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    \3\ Securities Exchange Act Release No. 34-53419 (March 6, 
2006), 71 FR 12758 (March 13, 2006) (SR-ISE-2005-50).
    \4\ Securities Exchange Act Release No. 34-76508 (November 30, 
2015), 80 FR 74826 (November 30, 2015) (SR-ISE-2015-42).
---------------------------------------------------------------------------

    In these situations, a Back-Up PMM assumes the responsibilities and 
privileges of a PMM under ISE rules with respect to any class in which 
the appointed PMM fails to have a quote in the ISE System, except that 
a CMM does not become subject to the PMM's requirement in ISE Rule 
804(e)(1) to enter continuous quotations in all of the series of all of 
the options classes to which it is appointed. Instead, under ISE Rule 
804(e)(2), the CMM (or Back-Up PMM) is required to maintain continuous 
quotations in that class or series for 60% of the time the options 
class is open for trading on the Exchange, provided, however, that a 
CMM (or Back-Up PMM) is required to maintain continuous quotations for 
90% of the time the class is open for trading on the Exchange in any 
options class in which it receives preferenced orders.\5\ Additionally, 
while PMMs are required to quote LEAPS and adjusted series, a CMM that 
has been appointed as the Back-Up PMM is not subject to these 
requirements due to their initial status as a CMM.\6\
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    \5\ See Rule 804(e)(2)(iii).
    \6\ See .02 of Supplementary Material to Rule 804 (The CMM 
quoting obligation ``does not include adjusted option series, nor 
series with a time to expiration of nine (9) months or greater for 
options on equities and exchange-traded funds or with a time to 
expiration of twelve (12) months or greater for index options.'')
---------------------------------------------------------------------------

    Currently, .03 to Supplementary Material to Rule 803 states that, 
when a PMM fails to have a quote in the System, a Back-Up PMM ``assumes 
all of the responsibilities and privileges of a'' PMM. Unlike the 
wording of this rule text, however, ISE's practice has always been to 
hold CMMs that are appointed as Back-Up PMMs to the above standards/
exceptions. ISE now proposes to amend .03 to Supplementary Material to 
Rule 803 to reflect ISE's longstanding standards/exceptions applicable 
to a CMM that has been appointed as the Back-Up PMM in a particular 
class.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with section 
6(b) of the Act \7\ in general, and furthers the objectives of section 
6(b)(5) \8\ in particular, in that it is designed to prevent fraudulent 
and manipulative acts and practices, to promote just and equitable 
principles of trade, to remove impediments to and perfect the mechanism 
of a free and open market and a national market system, and, in 
general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is consistent 
with the protection of investors and the public interest, and would 
remove impediments to and perfect the mechanism of a free and open 
market, because it makes a correction and clarifies ISE's rule text to 
more accurately reflect the responsibilities and privileges of a Back-
Up PMM. This will provide members with a better understanding of their 
responsibilities and privileges when acting as a Back-Up PMM in 
situations where a PMM fails to have a quote in the System. 
Additionally, Back-Up PMMs that are CMMs are not held to the heightened 
standards of PMMs for continuous quoting, LEAPS, and adjusted series 
due to the difficulty associated with meeting the standards for each on 
a short-term basis. For example, for continuous quoting, when a Back-Up 
PMM assumes responsibility for quoting a series or class, a Back-Up PMM 
could have problems meeting the continuous quoting requirement during 
such a short period of time. Similarly, a CMM that is a Back-Up PMM is 
not required to quote LEAPS because of the difficulty in pricing these 
options due their 9 month or greater time to expiration. Also, for 
adjusted series, the effect corporate actions have on certain 
underlying equity prices makes pricing these options challenging.

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

    This proposed rule change does not impose any burden on competition 
that is not necessary or appropriate in furtherance of the purposes of 
the Exchange Act because ISE is correcting and clarifying its rule text 
to accurately reflect the responsibilities and privileges of a Back-Up 
PMM when a PMM fails to have a quote in the System.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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

    Because the foregoing proposed rule change does not significantly 
affect the protection of investors or the public interest, does not 
impose any significant burden on competition, and, by its terms, does 
not become operative for 30 days from the date on which it was filed, 
or such shorter time as the Commission may designate, it has become 
effective pursuant to section 19(b)(3)(A) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\ The Exchange provided the Commission with 
written notice of its 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 the proposed rule 
change, or such shorter time as designated by the Commission, as 
required by Rule 19b-4(f)(6).
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    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 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 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 No. SR-ISE-2016-02 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-ISE-2016-02. 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 Commissions Internet Web site (http://www.sec.gov/rules/sro.shtml). 
Copies of the submission, all subsequent

[[Page 4349]]

amendments, all written statements with respect to the proposed rule 
change that are filed with the Commission, and all written 
communications relating to the proposed rule change between the 
Commission and any person, other than those that may be withheld from 
the public in accordance with the provisions of 5 U.S.C. 552, will be 
available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street NE., Washington, DC 20549, on official 
business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of 
such filing also will be available for inspection and copying at the 
principal office of the ISE. 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-2016-02 and should be submitted by February 16, 
2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-01392 Filed 1-25-16; 8:45 am]
BILLING CODE 8011-01-P



                                                                                Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices                                                   4347

                                                  No. 1025707), a permanently revoked                     Corporation Finance sent a delinquency                 I. Self-Regulatory Organization’s
                                                  Nevada corporation located in Boulder,                  letter to PRVW requesting compliance                   Statement of the Terms of Substance of
                                                  Colorado with a class of securities                     with its periodic filing requirements but              the Proposed Rule Change
                                                  registered with the Commission                          PRVW did not receive the delinquency
                                                  pursuant to Exchange Act Section 12(g)                                                                            The ISE proposes to correct, and
                                                                                                          letter due to its failure to maintain a
                                                  because it is delinquent in its periodic                                                                       clarify, .03 of Supplementary Material to
                                                                                                          valid address on file with the
                                                  filings with the Commission, having not                                                                        Rule 803, Obligations of Market Makers,
                                                                                                          Commission as required by Commission
                                                  filed any periodic reports since it filed                                                                      which describes the responsibilities and
                                                                                                          rules (Rule 301 of Regulation S–T, 17
                                                  a Form 10–Q for the period ended                                                                               privileges of a Back-Up Primary Market
                                                                                                          CFR 232.301 and Section 5.4 of EDGAR                   Maker (‘‘Back-Up PMM’’) that takes the
                                                  September 30, 2008.On April 28, 2015,                   Filer Manual). As of January 13, 2016,
                                                  Corporation Finance sent a delinquency                                                                         place of a Primary Market Maker
                                                                                                          the common stock of PRVW was quoted                    (‘‘PMM’’) when that PMM fails to have
                                                  letter to ICNSQ requesting compliance                   on OTC Link, had five market makers,
                                                  with its periodic filing requirements but                                                                      a quote in the system. This amendment
                                                                                                          and was eligible for the ‘‘piggyback’’                 will specify the PMM responsibilities
                                                  ICNSQ did not receive the delinquency                   exception of Exchange Act Rule 15c2–
                                                  letter due to its failure to maintain a                                                                        and privileges that do not apply to Back-
                                                                                                          11(f)(3).                                              Up PMMs. The text of the proposed rule
                                                  valid address on file with the
                                                  Commission as required by Commission                       The Commission is of the opinion that               change is available on the Exchange’s
                                                  rules (Rule 301 of Regulation S–T, 17                   the public interest and the protection of              Web site (http://www.ise.com), at the
                                                  CFR 232.301 and Section 5.4 of EDGAR                    investors require a suspension of trading              principal office of the Exchange, and at
                                                  Filer Manual). As of January 13, 2016,                  in the securities of the above-listed                  the Commission’s Public Reference
                                                  the common stock of ICNSQ was quoted                    companies. Therefore, it is ordered,                   Room.
                                                  on OTC Link, had six market makers,                     pursuant to Section 12(k) of the                       II. Self-Regulatory Organization’s
                                                  and was eligible for the ‘‘piggyback’’                  Securities Exchange Act of 1934, that                  Statement of the Purpose of, and
                                                  exception of Exchange Act Rule 15c2–                    trading in the securities of the above-                Statutory Basis for, the Proposed Rule
                                                  11(f)(3).                                               listed companies is suspended for the                  Change
                                                     It appears to the Commission that                    period from 9:30 a.m. EST on January
                                                  there is a lack of current and accurate                 22, 2016, through 11:59 p.m. EST on                      In its filing with the Commission, the
                                                  information concerning the securities of                February 4, 2016.                                      self-regulatory organization included
                                                  Maxray Optical Technology Co. Ltd.                                                                             statements concerning the purpose of,
                                                                                                             By the Commission.
                                                  (‘‘MXOP’’) (CIK No. 1395695), a void                                                                           and basis for, the proposed rule change
                                                  Delaware corporation located in                         Jill M. Peterson,                                      and discussed any comments it received
                                                  Mississauga, Ontario, Canada with a                     Assistant Secretary.                                   on the proposed rule change. The text
                                                  class of securities registered with the                 [FR Doc. 2016–01612 Filed 1–22–16; 11:15 am]           of these statements may be examined at
                                                  Commission pursuant to Exchange Act                     BILLING CODE 8011–01–P                                 the places specified in Item IV below.
                                                  Section 12(g) because it is delinquent in                                                                      The self-regulatory organization has
                                                  its periodic filings with the                                                                                  prepared summaries, set forth in
                                                  Commission, having not filed any                        SECURITIES AND EXCHANGE                                sections A, B and C below, of the most
                                                  periodic reports since it filed a Form                  COMMISSION                                             significant aspects of such statements.
                                                  10–Q for the period ended December 31,
                                                  2010. On April 28, 2015, Corporation                                                                           A. Self-Regulatory Organization’s
                                                                                                          [Release No. 34–76936; File No. SR–ISE–                Statement of the Purpose of, and
                                                  Finance sent a delinquency letter to
                                                                                                          2016–02]                                               Statutory Basis for, the Proposed Rule
                                                  MXOP requesting compliance with its
                                                  periodic filing requirements but MXOP                                                                          Change
                                                                                                          Self-Regulatory Organizations;
                                                  did not receive the delinquency letter                  International Securities Exchange,                     1. Purpose
                                                  due to its failure to maintain a valid                  LLC; Notice of Filing and Immediate
                                                  address on file with the Commission as                                                                            The purpose of this proposed rule
                                                                                                          Effectiveness of Proposed Rule                         change is to make corrections to, and
                                                  required by Commission rules (Rule 301
                                                                                                          Change Relating to Back-Up Primary                     clarify, .03 of Supplementary Material to
                                                  of Regulation S–T, 17 CFR 232.301 and
                                                                                                          Market Makers                                          Rule 803, Obligations of Market Makers,
                                                  Section 5.4 of EDGAR Filer Manual). As
                                                  of January 13, 2016, the common stock                   January 20, 2016.                                      which describes the responsibilities and
                                                  of MXOP was quoted on OTC Link, had                                                                            privileges of a Back-Up PMM that takes
                                                  four market makers, and was eligible for                   Pursuant to section 19(b)(1) of the                 the place of a PMM when that PMM
                                                  the ‘‘piggyback’’ exception of Exchange                 Securities Exchange Act of 1934 (the                   fails to have a quote in the system. This
                                                  Act Rule 15c2–11(f)(3).                                 ‘‘Act’’),1 and Rule 19b–4 thereunder,2                 amendment will specify the PMM
                                                     It appears to the Commission that                    notice is hereby given that on January 6,              responsibilities and privileges that do
                                                  there is a lack of current and accurate                 2016, the International Securities                     not apply to Back-Up PMMs.
                                                  information concerning the securities of                Exchange, LLC (the ‘‘Exchange’’ or the                    In 2006, ISE adopted a rule change
                                                  Peer Review Mediation & Arbitration,                    ‘‘ISE’’) filed with the Securities and                 that permits Competitive Market Makers
                                                  Inc. (‘‘PRVW’’) (CIK No. 1311627), a                    Exchange Commission the proposed                       (‘‘CMMs’’) that are also PMMs on the
                                                  dissolved Florida corporation located in                rule change, as described in Items I, II,              Exchange to voluntarily act as Back-Up
                                                  Pompano Beach, Florida with a class of                  and III below, which items have been                   PMMs when the appointed PMM has
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  securities registered with the                          prepared by the self-regulatory                        technical difficulties that interrupt its
                                                  Commission pursuant to Exchange Act                     organization. The Commission is                        participation in the market.3 Then, in
                                                  Section 12(g) because it is delinquent in               publishing this notice to solicit                      2015, the Exchange amended the
                                                  its periodic filings with the                           comments on the proposed rule change                   process by which a Back-Up PMM is
                                                  Commission, having not filed any                        from interested persons.
                                                  periodic reports since it filed a Form                                                                           3 Securities Exchange Act Release No. 34–53419
                                                  10–Q for the period ended September                       1 15 U.S.C. 78s(b)(1).                               (March 6, 2006), 71 FR 12758 (March 13, 2006) (SR–
                                                  30, 2012. On February 19, 2015,                           2 17 CFR 240.19b–4.                                  ISE–2005–50).



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                                                  4348                          Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices

                                                  chosen to replace a PMM that fails to                   and a national market system, and, in                  protection of investors or the public
                                                  have a quote in the System.4                            general, to protect investors and the                  interest, does not impose any significant
                                                    In these situations, a Back-Up PMM                    public interest.                                       burden on competition, and, by its
                                                  assumes the responsibilities and                          The Exchange believes that the                       terms, does not become operative for 30
                                                  privileges of a PMM under ISE rules                     proposed rule change is consistent with                days from the date on which it was
                                                  with respect to any class in which the                  the protection of investors and the                    filed, or such shorter time as the
                                                  appointed PMM fails to have a quote in                  public interest, and would remove                      Commission may designate, it has
                                                  the ISE System, except that a CMM does                  impediments to and perfect the                         become effective pursuant to section
                                                  not become subject to the PMM’s                         mechanism of a free and open market,                   19(b)(3)(A) of the Act 9 and Rule 19b–
                                                  requirement in ISE Rule 804(e)(1) to                    because it makes a correction and                      4(f)(6) thereunder.10 The Exchange
                                                  enter continuous quotations in all of the               clarifies ISE’s rule text to more                      provided the Commission with written
                                                  series of all of the options classes to                 accurately reflect the responsibilities                notice of its intent to file the proposed
                                                  which it is appointed. Instead, under                   and privileges of a Back-Up PMM. This                  rule change, along with a brief
                                                  ISE Rule 804(e)(2), the CMM (or Back-                   will provide members with a better                     description and text of the proposed
                                                  Up PMM) is required to maintain                         understanding of their responsibilities                rule change, at least five business days
                                                  continuous quotations in that class or                  and privileges when acting as a Back-Up                prior to the date of filing the proposed
                                                  series for 60% of the time the options                  PMM in situations where a PMM fails                    rule change, or such shorter time as
                                                  class is open for trading on the                        to have a quote in the System.                         designated by the Commission, as
                                                  Exchange, provided, however, that a                     Additionally, Back-Up PMMs that are                    required by Rule 19b–4(f)(6).
                                                  CMM (or Back-Up PMM) is required to                     CMMs are not held to the heightened                       At any time within 60 days of the
                                                  maintain continuous quotations for 90%                  standards of PMMs for continuous                       filing of such proposed rule change, the
                                                  of the time the class is open for trading               quoting, LEAPS, and adjusted series due                Commission summarily may
                                                  on the Exchange in any options class in                 to the difficulty associated with meeting              temporarily suspend such rule change if
                                                  which it receives preferenced orders.5                  the standards for each on a short-term                 it appears to the Commission that such
                                                  Additionally, while PMMs are required                   basis. For example, for continuous                     action is necessary or appropriate in the
                                                  to quote LEAPS and adjusted series, a                   quoting, when a Back-Up PMM assumes                    public interest, for the protection of
                                                  CMM that has been appointed as the                      responsibility for quoting a series or                 investors, or otherwise in furtherance of
                                                  Back-Up PMM is not subject to these                     class, a Back-Up PMM could have                        the purposes of the Act. If the
                                                  requirements due to their initial status                problems meeting the continuous                        Commission takes such action, the
                                                  as a CMM.6                                              quoting requirement during such a short                Commission shall institute proceedings
                                                    Currently, .03 to Supplementary                       period of time. Similarly, a CMM that is               to determine whether the proposed rule
                                                  Material to Rule 803 states that, when a                a Back-Up PMM is not required to quote                 should be approved or disapproved.
                                                  PMM fails to have a quote in the                        LEAPS because of the difficulty in
                                                  System, a Back-Up PMM ‘‘assumes all of                  pricing these options due their 9 month                IV. Solicitation of Comments
                                                  the responsibilities and privileges of a’’              or greater time to expiration. Also, for                 Interested persons are invited to
                                                  PMM. Unlike the wording of this rule                    adjusted series, the effect corporate                  submit written data, views, and
                                                  text, however, ISE’s practice has always                actions have on certain underlying                     arguments concerning the foregoing,
                                                  been to hold CMMs that are appointed                    equity prices makes pricing these                      including whether the proposed rule
                                                  as Back-Up PMMs to the above                            options challenging.                                   change is consistent with the Act.
                                                  standards/exceptions. ISE now proposes                                                                         Comments may be submitted by any of
                                                  to amend .03 to Supplementary Material                  B. Self-Regulatory Organization’s                      the following methods:
                                                  to Rule 803 to reflect ISE’s longstanding               Statement on Burden on Competition
                                                  standards/exceptions applicable to a                       This proposed rule change does not                  Electronic Comments
                                                  CMM that has been appointed as the                      impose any burden on competition that                    • Use the Commission’s Internet
                                                  Back-Up PMM in a particular class.                      is not necessary or appropriate in                     comment form (http://www.sec.gov/
                                                  2. Statutory Basis                                      furtherance of the purposes of the                     rules/sro.shtml); or
                                                                                                          Exchange Act because ISE is correcting                   • Send an Email to rule-comments@
                                                     The Exchange believes that its                       and clarifying its rule text to accurately             sec.gov. Please include File No. SR–ISE–
                                                  proposal is consistent with section 6(b)                reflect the responsibilities and                       2016–02 on the subject line.
                                                  of the Act 7 in general, and furthers the               privileges of a Back-Up PMM when a
                                                  objectives of section 6(b)(5) 8 in                                                                             Paper Comments
                                                                                                          PMM fails to have a quote in the
                                                  particular, in that it is designed to                   System.                                                  • Send paper comments in triplicate
                                                  prevent fraudulent and manipulative                                                                            to Secretary, Securities and Exchange
                                                  acts and practices, to promote just and                 C. Self-Regulatory Organization’s                      Commission, 100 F Street NE.,
                                                  equitable principles of trade, to remove                Statement on Comments on the                           Washington, DC 20549–1090.
                                                  impediments to and perfect the                          Proposed Rule Change Received From                     All submissions should refer to File
                                                  mechanism of a free and open market                     Members, Participants or Others                        Number SR–ISE–2016–02. This file
                                                                                                            The Exchange has not solicited, and                  number should be included on the
                                                    4 Securities Exchange Act Release No. 34–76508
                                                                                                          does not intend to solicit, comments on                subject line if email is used. To help the
                                                  (November 30, 2015), 80 FR 74826 (November 30,
                                                  2015) (SR–ISE–2015–42).
                                                                                                          this proposed rule change. The                         Commission process and review your
                                                    5 See Rule 804(e)(2)(iii).                            Exchange has not received any                          comments more efficiently, please use
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                    6 See .02 of Supplementary Material to Rule 804       unsolicited written comments from                      only one method. The Commission will
                                                  (The CMM quoting obligation ‘‘does not include          members or other interested parties.                   post all comments on the Commissions
                                                  adjusted option series, nor series with a time to                                                              Internet Web site (http://www.sec.gov/
                                                  expiration of nine (9) months or greater for options    III. Date of Effectiveness of the
                                                                                                                                                                 rules/sro.shtml). Copies of the
                                                  on equities and exchange-traded funds or with a         Proposed Rule Change and Timing for
                                                  time to expiration of twelve (12) months or greater                                                            submission, all subsequent
                                                                                                          Commission Action
                                                  for index options.’’)
                                                    7 15 U.S.C. 78f(b).                                      Because the foregoing proposed rule                   9 15   U.S.C. 78s(b)(3)(A).
                                                    8 15 U.S.C. 78f(b)(5).                                change does not significantly affect the                 10 17   CFR 240.19b–4(f)(6).



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                                                                                Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices                                             4349

                                                  amendments, all written statements                      2015, the Commission’s Division of                     rules (Rule 301 of Regulation S–T, 17
                                                  with respect to the proposed rule                       Corporation Finance (‘‘Corporation                     CFR 232.301 and Section 5.4 of EDGAR
                                                  change that are filed with the                          Finance’’) sent a delinquency letter to                Filer Manual). As of January 13, 2016,
                                                  Commission, and all written                             OLDW requesting compliance with its                    the common stock of TBBC was quoted
                                                  communications relating to the                          periodic filing requirements but OLDW                  on OTC Link, had five market makers,
                                                  proposed rule change between the                        did not receive the delinquency letter                 and was eligible for the ‘‘piggyback’’
                                                  Commission and any person, other than                   due to its failure to maintain a valid                 exception of Exchange Act Rule 15c2–
                                                  those that may be withheld from the                     address on file with the Commission as                 11(f)(3).
                                                  public in accordance with the                           required by Commission rules (Rule 301                    It appears to the Commission that
                                                  provisions of 5 U.S.C. 552, will be                     of Regulation S–T, 17 CFR 232.301 and                  there is a lack of current and accurate
                                                  available for Web site viewing and                      Section 5.4 of EDGAR Filer Manual). As                 information concerning the securities of
                                                  printing in the Commission’s Public                     of January 13, 2016, the common shares                 TheraBiogen, Inc. (‘‘TRAB’’) (CIK No.
                                                  Reference Room, 100 F Street NE.,                       of OLDW were quoted on OTC Link                        1405286), a revoked Nevada corporation
                                                  Washington, DC 20549, on official                       operated by OTC Markets Group Inc.                     located in Manalapan, New Jersey with
                                                  business days between the hours of                      (formerly ‘‘Pink Sheets’’) (‘‘OTC Link’’),             a class of securities registered with the
                                                  10:00 a.m. and 3:00 p.m. Copies of such                 had four market makers, and were                       Commission pursuant to Exchange Act
                                                  filing also will be available for                       eligible for the ‘‘piggyback’’ exception of            Section 12(g) because it is delinquent in
                                                  inspection and copying at the principal                 Exchange Act Rule 15c2–11(f)(3).                       its periodic filings with the
                                                  office of the ISE. All comments received                   It appears to the Commission that                   Commission, having not filed any
                                                  will be posted without change; the                      there is a lack of current and accurate                periodic reports since it filed a Form
                                                  Commission does not edit personal                       information concerning the securities of               10–Q for the period ended May 31,
                                                  identifying information from                            RPHL Acquisition Corp. (a/k/a Rockport                 2012. On April 28, 2015, Corporation
                                                  submissions. You should submit only                     Healthcare Group, Inc.) (‘‘RPHL’’) (CIK                Finance sent a delinquency letter to
                                                  information that you wish to make                       No. 919606), a void Delaware                           TRAB requesting compliance with its
                                                  available publicly. All submissions                     corporation located in Houston, Texas                  periodic filing requirements but TRAB
                                                  should refer to File Number SR–ISE–                     with a class of securities registered with             did not receive the delinquency letter
                                                  2016–02 and should be submitted by                      the Commission pursuant to Exchange                    due to its failure to maintain a valid
                                                  February 16, 2016.                                      Act Section 12(g) because it is                        address on file with the Commission as
                                                    For the Commission, by the Division of                delinquent in its periodic filings with                required by Commission rules (Rule 301
                                                  Trading and Markets, pursuant to delegated              the Commission, having not filed any                   of Regulation S–T, 17 CFR 232.301 and
                                                  authority.11                                            periodic reports since it filed a Form                 Section 5.4 of EDGAR Filer Manual). As
                                                  Brent J. Fields,                                        10–KSB for the period ended March 31,                  of January 13, 2016, the common stock
                                                  Secretary.                                              2008. On April 22, 2015, Corporation                   of TRAB was quoted on OTC Link, had
                                                  [FR Doc. 2016–01392 Filed 1–25–16; 8:45 am]
                                                                                                          Finance sent a delinquency letter to                   seven market makers, and was eligible
                                                                                                          RPHL requesting compliance with its                    for the ‘‘piggyback’’ exception of
                                                  BILLING CODE 8011–01–P
                                                                                                          periodic filing requirements but RPHL                  Exchange Act Rule 15c2–11(f)(3).
                                                                                                          did not receive the delinquency letter                    It appears to the Commission that
                                                  SECURITIES AND EXCHANGE                                 due to its failure to maintain a valid                 there is a lack of current and accurate
                                                  COMMISSION                                              address on file with the Commission as                 information concerning the securities of
                                                                                                          required by Commission rules (Rule 301                 U.S. Helicopter Corporation (‘‘USHP’’)
                                                  [File No. 500–1]                                        of Regulation S–T, 17 CFR 232.301 and                  (CIK No. 1309140), a void Delaware
                                                                                                          Section 5.4 of EDGAR Filer Manual). As                 corporation located in New York, New
                                                  OldWeb sites.com, Inc., RPHL                            of January 13, 2016, the common stock                  York with a class of securities registered
                                                  Acquisition Corp. (a/k/a Rockport                       of RPHL was quoted on OTC Link, had                    with the Commission pursuant to
                                                  Healthcare Group, Inc.), The Brainy                     five market makers, and was eligible for               Exchange Act Section 12(g) because it is
                                                  Brands Company, Inc., TheraBiogen,                      the ‘‘piggyback’’ exception of Exchange                delinquent in its periodic filings with
                                                  Inc., U.S. Helicopter Corporation, and                  Act Rule 15c2–11(f)(3).                                the Commission, having not filed any
                                                  Vicor Technologies, Inc.; Order of                         It appears to the Commission that                   periodic reports since it filed a Form
                                                  Suspension of Trading                                   there is a lack of current and accurate                10–Q for the period ended September
                                                  January 22, 2016.                                       information concerning the securities of               30, 2008. On February 19, 2015,
                                                     It appears to the Securities and                     The Brainy Brands Company, Inc.                        Corporation Finance sent a delinquency
                                                  Exchange Commission (‘‘Commission’’)                    (‘‘TBBC’’) (CIK No. 1478838), a forfeited              letter to USHP requesting compliance
                                                  that there is a lack of current and                     Delaware corporation located in                        with its periodic filing requirements but
                                                  accurate information concerning the                     Suwanee, Georgia with a class of                       USHP did not receive the delinquency
                                                  securities of OldWeb sites.com, Inc.                    securities registered with the                         letter due to its failure to maintain a
                                                  (‘‘OLDW 1’’) (CIK No. 1391570), an                      Commission pursuant to Exchange Act                    valid address on file with the
                                                  expired Utah corporation located in Salt                Section 12(g) because it is delinquent in              Commission as required by Commission
                                                  Lake City, Utah with a class of securities              its periodic filings with the                          rules (Rule 301 of Regulation S–T, 17
                                                  registered with the Commission                          Commission, having not filed any                       CFR 232.301 and Section 5.4 of EDGAR
                                                  pursuant to Exchange Act Section 12(g)                  periodic reports since it filed a Form                 Filer Manual). As of January 13, 2016,
                                                  because it is delinquent in its periodic                10–Q for the period ended September                    the common stock of USHP was quoted
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  filings with the Commission, having not                 30, 2011. On February 19, 2015,                        on OTC Link, had five market makers,
                                                  filed any periodic reports since it filed               Corporation Finance sent a delinquency                 and was eligible for the ‘‘piggyback’’
                                                  a Form 10–Q for the period ended                        letter to TBBC requesting compliance                   exception of Exchange Act Rule 15c2–
                                                  September 30, 2011. On February 19,                     with its periodic filing requirements but              11(f)(3).
                                                                                                          TBBC did not receive the delinquency                      It appears to the Commission that
                                                    11 17 CFR 200.30–3(a)(12).                            letter due to its failure to maintain a                there is a lack of current and accurate
                                                    1 The short form of each issuer’s name is also its    valid address on file with the                         information concerning the securities of
                                                  stock symbol.                                           Commission as required by Commission                   Vicor Technologies, Inc. (‘‘VCRTQ’’)


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Document Created: 2018-02-02 12:37:47
Document Modified: 2018-02-02 12:37:47
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 4347 

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