81 FR 45326 - Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice of Proposed Rule Change Regarding Account and Order Ticket Information

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 134 (July 13, 2016)

Page Range		45326-45328
FR Document		2016-16490
Federal Register, Volume 81 Issue 134 (Wednesday, July 13, 2016)
[Federal Register Volume 81, Number 134 (Wednesday, July 13, 2016)]
[Notices]
[Pages 45326-45328]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16490]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78248; File No. SR-CFE-2016-003]


Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice 
of Proposed Rule Change Regarding Account and Order Ticket Information

July 7, 2016.
    Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on June 10, 2016 CBOE Futures 
Exchange, LLC (``CFE'' or ``Exchange'') filed with the Securities and 
Exchange Commission (``SEC'' or ``Commission'') the proposed rule 
change described in Items I, II, and III below, which Items have been 
prepared by CFE. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons. CFE also 
has filed this proposed rule change with the Commodity Futures Trading 
Commission (``CFTC''). CFE filed a written certification with the CFTC 
under Section 5c(c) of the Commodity Exchange Act (``CEA'') \2\ on June 
23, 2016.
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    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 7 U.S.C. 7a-2(c).

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[[Page 45327]]

I. Self-Regulatory Organization's Description of the Proposed Rule 
Change

    The Exchange proposes to amend its rules related to account and 
order ticket information. The scope of this filing is limited solely to 
the application of the rule amendments to security futures that may be 
traded on CFE. The text of the proposed rule change is attached as 
Exhibit 4 to the filing but is not attached to the publication of this 
notice.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, CFE 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. CFE 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 CFE rule amendments included as part of 
this rule change is to amend CFE Rules 403 (Order Entry), 414 (Exchange 
of Contract for Related Position) (``ECRP''), and 415 (Block Trading) 
to clarify information that must be included as part of an order. The 
rule amendments included as part of this rule change are to apply to 
all products traded on CFE, including both non-security futures and 
security futures.
    CFE Rule 403(a) currently provides that Trading Privilege Holders 
(``TPHs'') are required to include certain information when entering an 
order into CFE's trading system. Pursuant to CFE Rule 403(a), each 
order currently must contain the following information: (i) Whether the 
order is a buy or sell order; (ii) order type; (iii) commodity; (iv) 
contract expiration; (v) price; (vi) quantity; (vii) account type; 
(viii) account designation (the number assigned by a TPH to each of its 
accounts); (ix) in the case of orders for options, strike price, type 
of option (put or call) and expiration month; and (x) such additional 
information as may be prescribed from time to time by the Exchange.
    CFE Rule 414(f) currently provides that TPHs must identify and mark 
an ECRP order as an ECRP.
    CFE Rule 415(e) currently provides that TPHs are required to 
include specified information on the order ticket for a Block Trade. 
Pursuant to CFE Rule 415(e), each TPH that is a party to a Block Trade 
currently must record the following information on the order ticket: 
The contract (including the expiration) to which the Block Trade 
relates; the number of contracts traded; the price of execution or 
premium; the time of execution (i.e., the time the parties agreed to 
the Block Trade); the identity of the counterparty; that the 
transaction is a Block Trade; and, if applicable, the account number of 
the customer for which the Block Trade was executed, the underlying 
commodity, whether the transaction involved a put or a call and the 
strike price.
    The proposed amendments provide additional detail regarding certain 
order information that must be provided under these Rules in the 
following manner:
    First, the proposed amendments specify that, under CFE Rule 403(a), 
the account designation that must be included in any order submitted to 
CFE's trading system is the account number of the account of the party 
for which the order was placed (except that a different account 
designation may be included in the case of a bunched order or in the 
case of an order for which there will be a post-trade allocation of the 
resulting trade(s) to a different clearing member).
    A bunched order is an order that is entered on behalf of multiple 
customer accounts and then allocated to the individual customer 
accounts in accordance with applicable regulatory requirements.\3\ 
Because bunched orders are on behalf of multiple customer accounts, 
individual customer account numbers are not required to be included 
with bunched orders and instead the proposed amendments to Rule 403(a) 
reference the requirement under CFE Rule 406(e) that a designation 
specific to the allocation group and account controller be included in 
the order rather the individual account numbers. Additionally, when a 
TPH submits an order on behalf of a customer for which there is going 
to be a post-trade allocation of the resulting trade(s) to a different 
clearing member, the TPH may not know the account number of the 
customer at that clearing member. Accordingly, the account designation 
that the TPH is required to provide in those situations is not required 
to be the account number of the account of the party for which the 
order was placed and could be a suspense account number.
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    \3\ CFE Rule 406(e) provides that, subject to compliance with 
CFE Rule 605 (Sales Practice Rules) and the sales practice rules 
referred to therein, each TPH may enter, or permit its Related 
Parties to enter (as applicable), a bunched order for more than one 
discretionary customer account into CFE's trading system by using a 
designation specific to the allocation group and account controller 
rather than including each of the individual account numbers in the 
order, provided that the TPH has filed or is filing an allocation 
scheme for the order in accordance with CFTC regulations.
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    Second, the proposed amendments specify that, under CFE Rule 
414(f), each TPH that acts as agent for an ECRP transaction must 
include on the order ticket for the ECRP specified information provided 
for in this proposed rule change. Specifically, CFE Rule 414(f) is 
proposed to be revised to make clear that each TPH that acts as agent 
for an ECRP must record the following details with respect to the 
contract leg of the ECRP on its order ticket: The contract (including 
the expiration); the number of contracts traded; the price of execution 
or premium; the time of execution (i.e., the time the parties agreed to 
the ECRP); the identity of the counterparty; that the transaction is an 
ECRP; the account number of the customer for which the ECRP was 
executed; and if applicable, the underlying commodity, whether the 
transactions involved a put or a call and the strike price.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\4\ in general, and furthers the 
objectives of Sections 6(b)(5) \5\ and 6(b)(7) \6\ in particular in 
that it is designed:
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
    \6\ 15 U.S.C. 78f(b)(7).
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     To prevent fraudulent and manipulative acts and practices,
     to promote just and equitable principles of trade,
     to foster cooperation and coordination with persons 
engaged in facilitating transactions in securities, and
     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.
    The Exchange believes that the proposed rule change would 
strengthen its ability to carry out its responsibilities as a self-
regulatory organization by providing further clarity and guidance 
regarding the type of information that must be included as part of an 
order. First, the proposed rule change will provide market participants 
with greater clarity regarding the information that

[[Page 45328]]

must be provided when an order, ECRP transaction, or Block Trade is 
submitted to CFE's system. Second, the proposed rule change would 
contribute to enhancing the effectiveness of CFE's audit trail program 
by helping to assure that required information is included as part of 
each order.

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

    CFE does not believe that the proposed rule change will impose any 
burden on competition not necessary or appropriate in furtherance of 
the purposes of the Act, in that the rule change will enhance CFE's 
ability to carry out its responsibilities as a self-regulatory 
organization. The Exchange believes that the proposed rule change is 
equitable and not unfairly discriminatory because the amendments 
regarding account and order ticket information apply equally to all 
market participants.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The proposed rule change will become effective on June 23, 2016. At 
any time within 60 days of the date of effectiveness of the proposed 
rule change, the Commission, after consultation with the CFTC, may 
summarily abrogate the proposed rule change and require that the 
proposed rule change be refiled in accordance with the provisions of 
Section 19(b)(1) of the Act.\7\
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    \7\ 15 U.S.C. 78s(b)(1).
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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-CFE-2016-003 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-CFE-2016-003. 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 such 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-CFE-2016-003, and should be 
submitted on or before August 3, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(73).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-16490 Filed 7-12-16; 8:45 am]
 BILLING CODE 8011-01-P
45326 Federal Register / Vol. 81, No. 134 / Wednesday, July 13, 2016 / Notices

when pursuing their investment goals investors and the public interest Commission and any person, other than
and needs. because it will allow the SPY Pilot those that may be withheld from the
Program to continue without public in accordance with the
B. Self-Regulatory Organization’s
interruption. The Commission believes provisions of 5 U.S.C. 552, will be
Statement on Burden on Competition
that waiving the 30-day operative delay available for Web site viewing and
The Exchange does not believe that is consistent with the protection of printing in the Commission’s Public
the proposed rule change will impose investors and the public interest. Reference Room, 100 F Street NE.,
any burden on competition not Therefore, the Commission hereby Washington, DC 20549 on official
necessary or appropriate in furtherance waives the operative delay and business days between the hours of
of the purposes of the Act. The designates the proposed rule change 10:00 a.m. and 3:00 p.m. Copies of such
proposed rule change is not designed to operative upon filing.10 filing also will be available for
address any aspect of competition, At any time within 60 days of the inspection and copying at the principal
whether between the Exchange and its filing of the proposed rule change, the office of the Exchange. All comments
competitors, or among market Commission summarily may received will be posted without change;
participants. Instead, the proposed rule temporarily suspend such rule change if the Commission does not edit personal
change is designed to allow the SPY it appears to the Commission that such identifying information from
Pilot Program to continue action is necessary or appropriate in the submissions. You should submit only
uninterrupted. Additionally, the public interest, for the protection of information that you wish to make
Exchange expects all other SROs that investors, or otherwise in furtherance of available publicly. All submissions
currently have rules regarding the SPY the purposes of the Act. If the
Pilot Program to also extend the pilot should refer to File Number SR–
Commission takes such action, the NYSEMKT–2016–65, and should be
program for an additional year. Commission shall institute proceedings submitted on or before August 3, 2016.
C. Self-Regulatory Organization’s to determine whether the proposed rule
For the Commission, by the Division of
Statement on Comments on the should be approved or disapproved.
Trading and Markets, pursuant to delegated
Proposed Rule Change Received From IV. Solicitation of Comments authority.11
Members, Participants, or Others
Interested persons are invited to Brent J. Fields,
No written comments were solicited
submit written data, views, and Secretary.
or received with respect to the proposed
arguments concerning the foregoing, [FR Doc. 2016–16482 Filed 7–12–16; 8:45 am]
rule change.
including whether the proposed rule BILLING CODE 8011–01–P
III. Date of Effectiveness of the change is consistent with the Act.
Proposed Rule Change and Timing for Comments may be submitted by any of
Commission Action the following methods: SECURITIES AND EXCHANGE
Because the foregoing proposed rule Electronic Comments COMMISSION
change does not: (i) Significantly affect
the protection of investors or the public • Use the Commission’s Internet
[Release No. 34–78248; File No. SR–CFE–
interest; (ii) impose any significant comment form (http://www.sec.gov/
2016–003]
burden on competition; and (iii) become rules/sro.shtml); or
operative for 30 days from the date on • Send an email to rule-comments@ Self-Regulatory Organizations; CBOE
which it was filed, or such shorter time sec.gov. Please include File Number SR– Futures Exchange, LLC; Notice of
as the Commission may designate, it has NYSEMKT–2016–65 on the subject line. Proposed Rule Change Regarding
become effective pursuant to Section Paper Comments Account and Order Ticket Information
19(b)(3)(A) of the Act and Rule 19b–
4(f)(6) thereunder.7 • Send paper comments in triplicate July 7, 2016.
A proposed rule change filed to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street Pursuant to Section 19(b)(7) of the
pursuant to Rule 19b–4(f)(6) under the Securities Exchange Act of 1934
Act 8 normally does not become NE., Washington, DC 20549–1090.
(‘‘Act’’),1 notice is hereby given that on
operative for 30 days after the date of its All submissions should refer to File June 10, 2016 CBOE Futures Exchange,
filing. However, Rule 19b–4(f)(6)(iii) 9 Number SR–NYSEMKT–2016–65. This LLC (‘‘CFE’’ or ‘‘Exchange’’) filed with
permits the Commission to designate a file number should be included on the the Securities and Exchange
shorter time if such action is consistent subject line if email is used. To help the Commission (‘‘SEC’’ or ‘‘Commission’’)
with the protection of investors and the Commission process and review your the proposed rule change described in
public interest. The Exchange has asked comments more efficiently, please use Items I, II, and III below, which Items
the Commission to waive the 30-day only one method. The Commission will have been prepared by CFE. The
operative delay so that the proposal may post all comments on the Commission’s Commission is publishing this notice to
become operative immediately upon Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule
filing. The Exchange believes that rules/sro.shtml). Copies of the change from interested persons. CFE
waiver of the operative delay is submission, all subsequent also has filed this proposed rule change
consistent with the protection of amendments, all written statements with the Commodity Futures Trading
with respect to the proposed rule Commission (‘‘CFTC’’). CFE filed a
7 17 CFR 240.19b–4(f)(6). As required under Rule
change that are filed with the
jstallworth on DSK7TPTVN1PROD with NOTICES

19b–4(f)(6)(iii), the Exchange provided the written certification with the CFTC
Commission, and all written under Section 5c(c) of the Commodity
Commission with written notice of its intent to file
the proposed rule change, along with a brief communications relating to the Exchange Act (‘‘CEA’’) 2 on June 23,
description and the text of the proposed rule proposed rule change between the 2016.
change, at least five business days prior to the date
of filing of the proposed rule change, or such 10 For purposes only of waiving the 30-day
shorter time as designated by the Commission. operative delay, the Commission has considered the
11 17 CFR 200.30–3(a)(12).
8 17 CFR 240.19b–4(f)(6). 1 15 U.S.C. 78s(b)(7).
proposed rule’s impact on efficiency, competition,
9 17 CFR 240.19b–4(f)(6)(iii). and capital formation. See 15 U.S.C. 78c(f). 2 7 U.S.C. 7a–2(c).

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Federal Register / Vol. 81, No. 134 / Wednesday, July 13, 2016 / Notices 45327

I. Self-Regulatory Organization’s CFE Rule 415(e) currently provides different clearing member, the TPH may
Description of the Proposed Rule that TPHs are required to include not know the account number of the
Change specified information on the order ticket customer at that clearing member.
The Exchange proposes to amend its for a Block Trade. Pursuant to CFE Rule Accordingly, the account designation
rules related to account and order ticket 415(e), each TPH that is a party to a that the TPH is required to provide in
information. The scope of this filing is Block Trade currently must record the those situations is not required to be the
limited solely to the application of the following information on the order account number of the account of the
rule amendments to security futures that ticket: The contract (including the party for which the order was placed
may be traded on CFE. The text of the expiration) to which the Block Trade and could be a suspense account
proposed rule change is attached as relates; the number of contracts traded; number.
Exhibit 4 to the filing but is not attached the price of execution or premium; the Second, the proposed amendments
to the publication of this notice. time of execution (i.e., the time the specify that, under CFE Rule 414(f),
parties agreed to the Block Trade); the each TPH that acts as agent for an ECRP
II. Self-Regulatory Organization’s identity of the counterparty; that the transaction must include on the order
Statement of the Purpose of, and transaction is a Block Trade; and, if ticket for the ECRP specified
Statutory Basis for, the Proposed Rule applicable, the account number of the information provided for in this
Change customer for which the Block Trade was proposed rule change. Specifically, CFE
In its filing with the Commission, CFE executed, the underlying commodity, Rule 414(f) is proposed to be revised to
included statements concerning the whether the transaction involved a put make clear that each TPH that acts as
purpose of and basis for the proposed or a call and the strike price. agent for an ECRP must record the
rule change and discussed any The proposed amendments provide following details with respect to the
comments it received on the proposed additional detail regarding certain order contract leg of the ECRP on its order
rule change. The text of these statements information that must be provided ticket: The contract (including the
may be examined at the places specified under these Rules in the following expiration); the number of contracts
in Item IV below. CFE has prepared manner: traded; the price of execution or
First, the proposed amendments premium; the time of execution (i.e., the
summaries, set forth in Sections A, B,
specify that, under CFE Rule 403(a), the time the parties agreed to the ECRP); the
and C below, of the most significant
account designation that must be identity of the counterparty; that the
aspects of such statements.
included in any order submitted to transaction is an ECRP; the account
A. Self-Regulatory Organization’s CFE’s trading system is the account number of the customer for which the
Statement of the Purpose of, and number of the account of the party for ECRP was executed; and if applicable,
Statutory Basis for, the Proposed Rule which the order was placed (except that the underlying commodity, whether the
Change a different account designation may be transactions involved a put or a call and
included in the case of a bunched order the strike price.
1. Purpose
or in the case of an order for which
The purpose of the proposed CFE rule there will be a post-trade allocation of 2. Statutory Basis
amendments included as part of this the resulting trade(s) to a different The Exchange believes that the
rule change is to amend CFE Rules 403 clearing member). proposed rule change is consistent with
(Order Entry), 414 (Exchange of Contract A bunched order is an order that is Section 6(b) of the Act,4 in general, and
for Related Position) (‘‘ECRP’’), and 415 entered on behalf of multiple customer furthers the objectives of Sections
(Block Trading) to clarify information accounts and then allocated to the 6(b)(5) 5 and 6(b)(7) 6 in particular in
that must be included as part of an individual customer accounts in that it is designed:
order. The rule amendments included as accordance with applicable regulatory • To prevent fraudulent and
part of this rule change are to apply to requirements.3 Because bunched orders manipulative acts and practices,
all products traded on CFE, including are on behalf of multiple customer • to promote just and equitable
both non-security futures and security accounts, individual customer account principles of trade,
futures. numbers are not required to be included • to foster cooperation and
CFE Rule 403(a) currently provides with bunched orders and instead the coordination with persons engaged in
that Trading Privilege Holders (‘‘TPHs’’) proposed amendments to Rule 403(a) facilitating transactions in securities,
are required to include certain reference the requirement under CFE and
information when entering an order into Rule 406(e) that a designation specific to • to remove impediments to and
CFE’s trading system. Pursuant to CFE the allocation group and account perfect the mechanism of a free and
Rule 403(a), each order currently must controller be included in the order open market and a national market
contain the following information: (i) rather the individual account numbers. system, and in general, to protect
Whether the order is a buy or sell order; Additionally, when a TPH submits an investors and the public interest.
(ii) order type; (iii) commodity; (iv) order on behalf of a customer for which The Exchange believes that the
contract expiration; (v) price; (vi) there is going to be a post-trade proposed rule change would strengthen
quantity; (vii) account type; (viii) allocation of the resulting trade(s) to a its ability to carry out its responsibilities
account designation (the number as a self-regulatory organization by
assigned by a TPH to each of its 3 CFE Rule 406(e) provides that, subject to
providing further clarity and guidance
accounts); (ix) in the case of orders for compliance with CFE Rule 605 (Sales Practice regarding the type of information that
Rules) and the sales practice rules referred to
jstallworth on DSK7TPTVN1PROD with NOTICES

options, strike price, type of option (put must be included as part of an order.
therein, each TPH may enter, or permit its Related
or call) and expiration month; and (x) Parties to enter (as applicable), a bunched order for First, the proposed rule change will
such additional information as may be more than one discretionary customer account into provide market participants with greater
prescribed from time to time by the CFE’s trading system by using a designation specific clarity regarding the information that
Exchange. to the allocation group and account controller
rather than including each of the individual
CFE Rule 414(f) currently provides account numbers in the order, provided that the
4 15 U.S.C. 78f(b).
that TPHs must identify and mark an TPH has filed or is filing an allocation scheme for 5 15 U.S.C. 78f(b)(5).
ECRP order as an ECRP. the order in accordance with CFTC regulations. 6 15 U.S.C. 78f(b)(7).

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45328 Federal Register / Vol. 81, No. 134 / Wednesday, July 13, 2016 / Notices

must be provided when an order, ECRP Paper Comments SECURITIES AND EXCHANGE
transaction, or Block Trade is submitted COMMISSION
to CFE’s system. Second, the proposed • Send paper comments in triplicate
rule change would contribute to to Secretary, Securities and Exchange [Release No. 34–78237; File No. SR–FINRA–
enhancing the effectiveness of CFE’s Commission, 100 F Street NE., 2016–021]
audit trail program by helping to assure Washington, DC 20549–1090.
that required information is included as Self-Regulatory Organizations;
All submissions should refer to File Financial Industry Regulatory
part of each order. Number SR–CFE–2016–003. This file Authority, Inc.; Notice of Filing and
B. Self-Regulatory Organization’s number should be included on the Immediate Effectiveness of a Proposed
Statement on Burden on Competition subject line if email is used. To help the Rule Change To Clarify the Application
Commission process and review your of FINRA Rule 2210 (‘‘Communications
CFE does not believe that the
proposed rule change will impose any comments more efficiently, please use With the Public’’) to Debt Research
burden on competition not necessary or only one method. The Commission will Reports
appropriate in furtherance of the post all comments on the Commission’s
Internet Web site (http://www.sec.gov/ July 7, 2016.
purposes of the Act, in that the rule
rules/sro.shtml). Copies of the Pursuant to section 19(b)(1) of the
change will enhance CFE’s ability to
submission, all subsequent Securities Exchange Act of 1934
carry out its responsibilities as a self-
amendments, all written statements (‘‘Act’’) 1 and Rule 19b–4 thereunder,2
regulatory organization. The Exchange
with respect to the proposed rule notice is hereby given that on June 24,
believes that the proposed rule change
change that are filed with the 2016, Financial Industry Regulatory
is equitable and not unfairly
Commission, and all written Authority, Inc. (‘‘FINRA’’) filed with the
discriminatory because the amendments
Securities and Exchange Commission
regarding account and order ticket communications relating to the
(‘‘SEC’’ or ‘‘Commission’’) the proposed
information apply equally to all market proposed rule change between the
rule change as described in Items I, and
participants. Commission and any person, other than
II below, which Items have been
C. Self-Regulatory Organization’s those that may be withheld from the prepared by FINRA. FINRA has
Statement on Comments on the public in accordance with the designated the proposed rule change as
Proposed Rule Change Received From provisions of 5 U.S.C. 552, will be constituting a ‘‘non-controversial’’ rule
Members, Participants, or Others available for Web site viewing and change under paragraph (f)(6) of Rule
printing in the Commission’s Public 19b–4 under the Act,3 which renders
No written comments were solicited Reference Room, 100 F Street NE., the proposal effective upon receipt of
or received with respect to the proposed Washington, DC 20549, on official this filing by the Commission. The
rule change. business days between the hours of Commission is publishing this notice to
III. Date of Effectiveness of the 10:00 a.m. and 3:00 p.m. Copies of such solicit comments on the proposed rule
Proposed Rule Change and Timing for filing also will be available for change from interested persons.
Commission Action inspection and copying at the principal
I. Self-Regulatory Organization’s
office of the Exchange. All comments
The proposed rule change will Statement of the Terms of Substance of
become effective on June 23, 2016. At received will be posted without change; the Proposed Rule Change
any time within 60 days of the date of the Commission does not edit personal
identifying information from FINRA is proposing to clarify the
effectiveness of the proposed rule application of FINRA Rule 2210
change, the Commission, after submissions. You should submit only
information that you wish to make (‘‘Communications with the Public’’) to
consultation with the CFTC, may debt research reports as the result of
summarily abrogate the proposed rule available publicly. All submissions
should refer to File Number SR–CFE– approval of a new FINRA debt research
change and require that the proposed conflict of interest rule.
rule change be refiled in accordance 2016–003, and should be submitted on
The text of the proposed rule change
with the provisions of Section 19(b)(1) or before August 3, 2016.
is available on FINRA’s Web site at
of the Act.7 For the Commission, by the Division of http://www.finra.org, at the principal
IV. Solicitation of Comments Trading and Markets, pursuant to delegated office of FINRA and at the
authority.8 Commission’s Public Reference Room.
Interested persons are invited to Brent J. Fields,
submit written data, views, and II. Self-Regulatory Organization’s
Secretary. Statement of the Purpose of, and
arguments concerning the foregoing,
including whether the proposed rule [FR Doc. 2016–16490 Filed 7–12–16; 8:45 am] Statutory Basis for, the Proposed Rule
change is consistent with the Act. BILLING CODE 8011–01–P Change
Comments may be submitted by any of In its filing with the Commission,
the following methods: FINRA included statements concerning
Electronic Comments the purpose of and basis for the
proposed rule change and discussed any
• Use the Commission’s Internet comments it received on the proposed
comment form (http://www.sec.gov/
jstallworth on DSK7TPTVN1PROD with NOTICES

rule change. The text of these statements
rules/sro.shtml); or may be examined at the places specified
• Send an email to rule- in Item IV below. FINRA has prepared
comments@sec.gov. Please include File summaries, set forth in sections A, B,
Number SR–CFE–2016–003 on the
subject line. 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
7 15 U.S.C. 78s(b)(1). 8 17 CFR 200.30–3(a)(73). 3 17 CFR 240.19b–4(f)(6).

VerDate Sep<11>2014 15:08 Jul 12, 2016 Jkt 238001 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 E:\FR\FM\13JYN1.SGM 13JYN1
Document Created: 2016-07-13 01:43:41
Document Modified: 2016-07-13 01:43:41
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 45326