81 FR 45193 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 133 (July 12, 2016)

Page Range		45193-45194
FR Document		2016-16542

Federal Register, Volume 81 Issue 133 (Tuesday, July 12, 2016)

[Federal Register Volume 81, Number 133 (Tuesday, July 12, 2016)]
[Notices]
[Pages 45193-45194]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16542]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given that, pursuant to the provisions of the 
Government in Sunshine Act, Public Law 99-409, the Securities and 
Exchange Commission will hold an Open Meeting on Wednesday, July 13, 
2016, at 10 a.m. in the Auditorium, Room L-002.
    The discussion agenda for the Open Meeting will be:
     The Commission will consider whether to adopt certain 
amendments and issue guidance relating to Regulation SBSR under the 
Securities Exchange Act of 1934.
     The Commission will consider whether to propose amendments 
to rules under the Securities Exchange Act of 1934 regarding disclosure 
of order handling information.
     The Commission will consider whether to propose amendments 
to address redundant, duplicative, overlapping, outdated, or superseded 
disclosure requirements.
    The summary agenda for the Open Meeting will be:
     The Commission will vote on amendments to its Rules of 
Practice regarding administrative proceedings.
    Commissioner Piwowar, as duty officer, voted to consider the items 
listed for the Open Meeting in open session, and determined that 
Commission business required consideration earlier than one week from 
today. No earlier notice of this Meeting was practicable.

[[Page 45194]]

    At times, changes in Commission priorities require alterations in 
the schedules of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted, or postponed, 
please contact: Brent J. Fields in the Office of the Secretary at (202) 
551-5400.

    Dated: July 7, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-16542 Filed 7-8-16; 11:15 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 133 / Tuesday, July 12, 2016 / Notices 45193

[sic] would remain at relatively low subparagraph (f)(2) of Rule 19b–4 12 Washington, DC 20549 on official
levels and would continue to reflect the thereunder, because it establishes a due, business days between the hours of
benefit that market participants receive fee, or other charge imposed by the 10:00 a.m. and 3:00 p.m. Copies of the
through the ability to have their orders Exchange. filing also will be available for
interact with other liquidity at the At any time within 60 days of the inspection and copying at the principal
opening [sic]. The Exchange also filing of such proposed rule change, the office of the Exchange. All comments
believes that the proposed changes Commission summarily may received will be posted without change;
would encourage the submission of temporarily suspend such rule change if the Commission does not edit personal
additional liquidity to a public it appears to the Commission that such identifying information from
exchange, thereby promoting price action is necessary or appropriate in the submissions. You should submit only
discovery and transparency and public interest, for the protection of information that you wish to make
enhancing order execution investors, or otherwise in furtherance of available publicly. All submissions
opportunities for member organizations. the purposes of the Act. If the should refer to File Number SR–NYSE–
The Exchange believes that this could Commission takes such action, the 2016–47 and should be submitted on or
promote competition between the Commission shall institute proceedings before August 2, 2016.
Exchange and other execution venues, under Section 19(b)(2)(B) 13 of the Act to For the Commission, by the Division of
including those that currently offer determine whether the proposed rule Trading and Markets, pursuant to delegated
similar order types and comparable change should be approved or authority.14
transaction pricing, by encouraging disapproved. Brent J. Fields,
additional orders to be sent to the IV. Solicitation of Comments Secretary.
Exchange for execution. [FR Doc. 2016–16377 Filed 7–11–16; 8:45 am]
Finally, the Exchange notes that it Interested persons are invited to
operates in a highly competitive market submit written data, views, and BILLING CODE 8011–01–P

in which market participants can arguments concerning the foregoing,
readily favor competing venues if they including whether the proposed rule
change is consistent with the Act. SECURITIES AND EXCHANGE
deem fee levels at a particular venue to COMMISSION
be excessive or rebate opportunities Comments may be submitted by any of
available at other venues to be more the following methods: Sunshine Act Meeting
favorable. In such an environment, the Electronic Comments
Exchange must continually adjust its Notice is hereby given that, pursuant
• Use the Commission’s Internet to the provisions of the Government in
fees and rebates to remain competitive comment form (http://www.sec.gov/
with other exchanges and with Sunshine Act, Public Law 99–409, the
rules/sro.shtml); or Securities and Exchange Commission
alternative trading systems that have • Send an email to rule-comments@
been exempted from compliance with will hold an Open Meeting on
sec.gov. Please include File Number SR– Wednesday, July 13, 2016, at 10 a.m. in
the statutory standards applicable to NYSE–2016–47 on the subject line.
exchanges. Because competitors are free the Auditorium, Room L–002.
to modify their own fees and credits in Paper Comments The discussion agenda for the Open
response, and because market • Send paper comments in triplicate Meeting will be:
participants may readily adjust their to Brent J. Fields, Secretary, Securities • The Commission will consider
order routing practices, the Exchange and Exchange Commission, 100 F Street whether to adopt certain amendments
believes that the degree to which fee NE., Washington, DC 20549–1090. and issue guidance relating to
changes in this market may impose any Regulation SBSR under the Securities
All submissions should refer to File
burden on competition is extremely Exchange Act of 1934.
Number SR–NYSE–2016–47. This file
limited. As a result of all of these number should be included on the • The Commission will consider
considerations, the Exchange does not subject line if email is used. To help the whether to propose amendments to
believe that the proposed changes will Commission process and review your rules under the Securities Exchange Act
impair the ability of member comments more efficiently, please use of 1934 regarding disclosure of order
organizations or competing order only one method. The Commission will handling information.
execution venues to maintain their post all comments on the Commission’s • The Commission will consider
competitive standing in the financial Internet Web site (http://www.sec.gov/ whether to propose amendments to
markets. rules/sro.shtml). Copies of the address redundant, duplicative,
submission, all subsequent overlapping, outdated, or superseded
C. Self-Regulatory Organization’s disclosure requirements.
Statement on Comments on the amendments, all written statements
with respect to the proposed rule The summary agenda for the Open
Proposed Rule Change Received From Meeting will be:
Members, Participants, or Others change that are filed with the
Commission, and all written • The Commission will vote on
No written comments were solicited communications relating to the amendments to its Rules of Practice
or received with respect to the proposed proposed rule change between the regarding administrative proceedings.
rule change. Commission and any person, other than Commissioner Piwowar, as duty
those that may be withheld from the officer, voted to consider the items
III. Date of Effectiveness of the
listed for the Open Meeting in open
mstockstill on DSK3G9T082PROD with NOTICES

Proposed Rule Change and Timing for public in accordance with the
provisions of 5 U.S.C. 552, will be session, and determined that
Commission Action
available for Web site viewing and Commission business required
The foregoing rule change is effective printing in the Commission’s Public consideration earlier than one week
upon filing pursuant to Section Reference Room, 100 F Street NE., from today. No earlier notice of this
19(b)(3)(A) 11 of the Act and Meeting was practicable.
12 17 CFR 240.19b–4(f)(2).
11 15 U.S.C. 78s(b)(3)(A). 13 15 U.S.C. 78s(b)(2)(B). 14 17 CFR 200.30–3(a)(12).

VerDate Sep<11>2014 18:30 Jul 11, 2016 Jkt 238001 PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 E:\FR\FM\12JYN1.SGM 12JYN1

45194 Federal Register / Vol. 81, No. 133 / Tuesday, July 12, 2016 / Notices

At times, changes in Commission places specified in Item IV below. The principles of trade, to foster cooperation
priorities require alterations in the Exchange has prepared summaries, set and coordination with persons engaged
schedules of meeting items. For further forth in sections A, B, and C below, of in regulating, clearing, settling,
information and to ascertain what, if the most significant aspects of such processing information with respect to,
any, matters have been added, deleted, statements. and facilitating transactions in
or postponed, please contact: Brent J. securities, to remove impediments to
A. Self-Regulatory Organization’s
Fields in the Office of the Secretary at and perfect the mechanism of a free and
Statement of the Purpose of, and
(202) 551–5400. open market and a national market
Statutory Basis for, the Proposed Rule
Dated: July 7, 2016. system, and, in general, to protect
Change
Brent J. Fields, investors and the public interest.
1. Purpose The Exchange believes that the
Secretary.
The Exchange is proposing to make a proposed rule change will remove
[FR Doc. 2016–16542 Filed 7–8–16; 11:15 am] impediments to and perfect the
BILLING CODE 8011–01–P
minor modification to the Exchange
process for commencing trading of a mechanism of a free and open market
security that is the subject of a trading and a national market system through
halt. Specifically, the Exchange is an improved and simplified Exchange
SECURITIES AND EXCHANGE process for commencing trading of a
COMMISSION proposing to modify the way in which
orders are accepted prior to the security that is the subject of a trading
[Release No. 34–78232; File No. SR–PHLX– commencement of trading for securities halt. Specifically, this will be
2016–70]
subject to a trading halt. This change accomplished by revising Exchange
will simplify the order submission Rule 3100(c)(3)(B) to simply state that
Self-Regulatory Organizations; orders entered during any trading halt
NASDAQ PHLX LLC; Notice of Filing operations for market participants
during trading halts.3 or pause will not be accepted.
and Immediate Effectiveness of The current functionality for
Proposed Rule Change To Amend Rule Currently, Exchange Rule
3100(c)(3)(B) provides that during any accepting orders prior to the Exchange
3100 releasing the security for trading is used
trading halt or pause, market
July 6, 2016. participants may enter orders during the infrequently and consequently the
Pursuant to section 19(b)(1) of the trading halt or pause and designate such proposed rule change will have little
Securities Exchange Act of 1934 orders to be held until the termination impact on customers. To the extent that
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 of the trading halt or pause. Under this there is any impact, it will be that
notice is hereby given that on June 22, rule, such orders will be held in a rejecting orders rather than holding
2016, NASDAQ PHLX LLC (‘‘Phlx’’ or suspended state until the termination of them in a suspended state will clarify
‘‘Exchange’’) filed with the Securities the halt or pause, at which time they the state of participant orders, thereby
and Exchange Commission will be entered into the system. The reducing potential confusion. The
(‘‘Commission’’) the proposed rule Exchange proposes that Rule implementation of the existing
change as described in Items I and II 3100(c)(3)(B) be revised to simply state functionality for accepting orders prior
below, which Items have been prepared that orders entered during any trading to the Exchange releasing the security
by the Exchange. The Commission is halt or pause will not be accepted. for trading has not been widely used
publishing this notice to solicit The implementation of the existing and the Exchange believes the proposed
comments on the proposed rule change functionality for accepting orders prior rule change will both improve and
from interested persons. to the Exchange releasing the security simplify the Exchange process for
for trading has not been widely used market participants.
I. Self-Regulatory Organization’s The proposed rule change also will
and the Exchange believes the proposed
Statement of the Terms of the Substance remove impediments to and perfect the
rule change will both improve and
of the Proposed Rule Change mechanism of a free and open market
simplify the Exchange process for
The Exchange is proposing to amend through competition. Specifically, the
market participants. The Exchange will
Rule 3100 and the Exchange process for proposed rule change will enhance
issue an Equity Trader Alert notifying
commencing trading of a security that is competition by increasing the
Exchange member firms of the change
the subject of a trading halt. Exchange’s attractiveness as a venue for
prior to implementation on July 11,
The text of the proposed rule change trading securities because, as stated
2016.
is available at http:// above, it will both improve and simplify
nasdaq.cchwallstreet.com/, at the 2. Statutory Basis the Exchange process for market
Exchange’s principal office, and at the The Exchange believes that the participants.
Commission’s Public Reference Room. proposed rule change is consistent with B. Self-Regulatory Organization’s
II. Self-Regulatory Organization’s the provisions of section 6 of the Act,4 Statement on Burden on Competition
Statement of the Purpose of, and in general, and with section 6(b)(5) of
The Exchange does not believe that
Statutory Basis for, the Proposed Rule the Act,5 in particular, in that the
the proposed rule change will result in
Change proposal is designed to prevent
any burden on competition that is not
fraudulent and manipulative acts and
In its filing with the Commission, the necessary or appropriate in furtherance
practices, to promote just and equitable
Exchange included statements of the purposes of the Act, as amended.
The Exchange believes that the
mstockstill on DSK3G9T082PROD with NOTICES

concerning the purpose of and basis for 3 The proposed rule change is consistent with the

the proposed rule change and discussed recently approved filing of The NASDAQ Stock proposed rule change will result in an
any comments it received on the Market LLC (‘‘Nasdaq’’) as to the process for improved and simplified process for
commencing trading of a security that is the subject market participants, which in turn will
proposed rule change. The text of these of a trading halt. See Securities Exchange Act
statements may be examined at the Release No. 77445 (March 25, 2016), 81 FR 18658
reduce potential confusion during
(March 31, 2016) (SR–NASDAQ–2016–008). important market events. The Exchange
1 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78f. believes that this change will enhance
2 17 CFR 240.19b–4. 5 15 U.S.C. 78f(b)(5). competition by increasing its

VerDate Sep<11>2014 18:30 Jul 11, 2016 Jkt 238001 PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 E:\FR\FM\12JYN1.SGM 12JYN1

Document Created: 2016-07-12 01:59:06
Document Modified: 2016-07-12 01:59:06

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 45193