81 FR 51528 - Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Correct Typographical Errors in Certain Referenced Time Frames

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 150 (August 4, 2016)

Page Range		51528-51530
FR Document		2016-18474
Federal Register, Volume 81 Issue 150 (Thursday, August 4, 2016)
[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Notices]
[Pages 51528-51530]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-18474]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78447; File No. SR-IEX-2016-03]


Self-Regulatory Organizations; Investors Exchange LLC; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change To Correct 
Typographical Errors in Certain Referenced Time Frames

July 29, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on July 27, 2016, the Investors Exchange LLC (``IEX'' or 
the ``Exchange'') filed with the Securities and Exchange Commission 
(the ``Commission'') the proposed rule change as described in Items I 
and II below, which Items have been prepared by the self-regulatory 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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

    Pursuant to the provisions of Section 19(b)(1) under the Securities 
Exchange Act of 1934 (``Act''),\4\ and Rule 19b-4 thereunder,\5\ 
Investors Exchange LLC (``IEX'' or ``Exchange'') is filing with the 
Securities and Exchange Commission (``Commission'') a proposed rule 
change to make a nonsubstantive change to correct typographical errors 
in the referenced time frames for the Post-Market Hours and the Post-
Market Session trading in Rule 1.160(aa), the referenced time frames 
for System Hours in Rule 1.160(oo), and the referenced time frames for 
the Regular Market Session, Pre-Market Session and Post-Market Session 
in Rule 16.105(a)(7) and (b)(7). The Exchange has designated this rule 
change as ``non-controversial'' under Section 19(b)(3)(A) of the Act 
\6\ and provided the Commission with the notice required by Rule 19b-
4(f)(6)(iii) thereunder.\7\
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    \4\ 15 U.S.C. 78s(b)(1).
    \5\ 17 CFR 240.19b-4.
    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(6)(iii).
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    The text of the proposed rule change is available at the Exchange's 
Web site at www.iextrading.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.

[[Page 51529]]

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 statement [sic] 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 filing is to correct 
typographical errors in the referenced time frames for the Post-Market 
Hours and the Post-Market Session trading in Rule 1.160(aa), the 
referenced time frames for System Hours in Rule 1.160(oo), as well as 
the referenced time frames for the Regular Market Session, Pre-Market 
Session and Post-Market Session in Rule 16.105(a)(7) and (b)(7).
    Specifically, Rule 1.160(aa) incorrectly states that the term 
``Post-Market Hours'' or ``Post Market Session'' shall mean the time 
between 4:30 p.m. and 5:30 p.m. Eastern Time. The rule should instead 
state that the term ``Post-Market Hours'' or ``Post Market Session'' 
shall mean the time between 4:00 p.m. and 5:00 p.m. Eastern Time. 
Similarly, Rule 1.160(oo) incorrectly states that the term ``System 
Hours'' ends at 5:30 p.m. Eastern Time, rather than 5:00 p.m. Eastern 
Time.
    In addition, Rule 16.105(a)(7) and (b)(7) incorrectly state that 
Regular Market Session trading occurs until 4:15 p.m. rather than 4:00 
p.m. Those rule provisions also incorrectly state that the Pre-Market 
Session begins at 4:00 a.m. rather than 8:00 a.m. and that the Post-
Market Session ends at 8:00 p.m. rather than 5:00 p.m.
    The proposed rule change would correct the time frame references, 
and thus clarify exchange rules and alleviate any confusion among 
market participants.
2. Statutory Basis
    IEX believes that the proposed rule change is consistent with 
Section 6(b) \8\ of the Act in general, and furthers the objectives of 
Section 6(b)(5) of the Act \9\ 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. The 
Exchange believes it is appropriate to make the specified corrections 
so that the correct times are referenced in its rules and alleviate any 
confusion among market participants.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    IEX does not believe that the proposed rule change will result in 
any burden on competition because IEX is merely correcting its rules to 
correct inadvertent errors.

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

    Written comments were neither solicited nor received.

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

    The Exchange has designated this rule filing as non-controversial 
under Section 19(b)(3)(A) \10\ of the Act and Rule 19b-4(f)(6) \11\ 
thereunder. Because the proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate if consistent with 
the protection of investors and the public interest, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6) thereunder.\12\ The Exchange notes that its proposal makes a 
non-substantive change and has asked the Commission to waive the 30-day 
operative delay, making this proposal operative upon filing. The 
Commission believes that waiver of the operative delay is consistent 
with the protection of investors and the public interest because the 
Exchange is merely correcting referenced time frames, which may 
alleviate any potential confusion among market participants. Therefore, 
the Commission hereby waives the operative delay and designates the 
proposed rule change operative upon filing.\13\
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    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6).
    \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
    \13\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act. If the Commission 
takes such action, the Commission shall institute proceedings under 
Section 19(b)(2)(B) \14\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \14\ 15 U.S.C. 78s(b)(2)(B).
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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-IEX-2016-03 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-IEX-2016-03. 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

[[Page 51530]]

public in accordance with the provisions of 5 U.S.C. 552, will be 
available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street NE., Washington, DC 20549, on official 
business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of 
the filing also will be available for inspection and copying at the 
principal office of the Exchange. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All submissions should refer to 
File Number SR-IEX-2016-03 and should be submitted on or before August 
25, 2016.
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    \15\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-18474 Filed 8-3-16; 8:45 am]
 BILLING CODE 8011-01-P
51528 Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Notices

Financial Industry Regulatory Rule 608 4 under Section 11A of the SECURITIES AND EXCHANGE
Authority, Inc., International Securities Act 5 provides that within 120 days of COMMISSION
Exchange, LLC, ISE Gemini, LLC, Miami the date of publication of notice of filing
International Securities Exchange LLC, of an NMS plan or an amendment to an [Release No. 34–78447; File No. SR–IEX–
NASDAQ OMX BX, Inc., NASDAQ effective NMS plan the Commission 2016–03]
OMX PHLX LLC, The NASDAQ Stock shall approve such plan or amendment,
Market LLC, National Stock Exchange, with such changes or subject to such Self-Regulatory Organizations;
Inc., New York Stock Exchange LLC, conditions as the Commission may Investors Exchange LLC; Notice of
NYSE MKT LLC, and NYSE Arca, Inc. deem necessary or appropriate, if it Filing and Immediate Effectiveness of
(collectively, ‘‘SROs’’ or ‘‘Participants’’), finds that such plan or amendment is Proposed Rule Change To Correct
filed with the Securities and Exchange necessary and appropriate in the public Typographical Errors in Certain
Commission (the ‘‘Commission’’ or interest, for the protection of investors Referenced Time Frames
‘‘SEC’’) a National Market System Plan and the maintenance of fair and orderly July 29, 2016.
Governing the Consolidated Audit Trail markets, to remove impediments to, and
(the ‘‘CAT NMS Plan’’ or ‘‘Plan’’).1 The perfect the mechanisms of, a national Pursuant to Section 19(b)(1) 1 of the
proposed Plan was published for Securities Exchange Act of 1934 (the
market system, or otherwise in
comment in the Federal Register on ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
furtherance of the purposes of the Act.
May 17, 2016.2 The Commission has notice is hereby given that, on July 27,
The 120th day after publication of the
received 22 comments on the proposed 2016, the Investors Exchange LLC
proposed Plan is September 14, 2016. (‘‘IEX’’ or the ‘‘Exchange’’) filed with the
Plan.3
Rule 608, however, provides that the Securities and Exchange Commission
1 See Letter from Participants to Brent J. Fields,
Commission may extend the period (the ‘‘Commission’’) the proposed rule
Secretary, Commission, dated February 27, 2015. within which it must approve an NMS change as described in Items I and II
2 See Securities Exchange Act Release No. 77724 Plan or amendment to an effective NMS below, which Items have been prepared
(April 27, 2016), 81 FR 30614. Plan up to 180 days, if it finds such by the self-regulatory organization. The
3 See Letters to Brent J. Fields, Secretary,
longer period to be appropriate and Commission is publishing this notice to
Commission, from Kathleen Weiss Hanley, Bolton-
Perella Chair in Finance, Lehigh University, et al.,
publishes its reasons for so finding or as solicit comments on the proposed rule
dated July 12, 2016; Courtney Doyle McGuinn, FIX to which the sponsors consent. change from interested persons.
Operations Director, FIX Trading Community, dated
July 14, 2016; Kelvin To, Founder and President,
The Commission hereby extends the I. Self-Regulatory Organization’s
Data Boiler Technologies, LLC, dated July 15, 2016; time period for Commission action on Statement of the Terms of Substance of
Richard Foster, Senior Vice President and Senior the proposed Plan and designates the Proposed Rule Change
Counsel for Regulatory and Legal Affairs, Financial November 10, 2016, which is the last
Services Roundtable, dated July 15, 2016; David T.
Bellaire, Executive Vice President & General business day before the 180th day after Pursuant to the provisions of Section
Counsel, Financial Services Institute, dated, July 18, publication of the proposed Plan,6 as 19(b)(1) under the Securities Exchange
2016; Stuart J. Kaswell, Executive Vice President & the time period for Commission action. Act of 1934 (‘‘Act’’),4 and Rule 19b–4
Managing Director, General Counsel, Managed thereunder,5 Investors Exchange LLC
Funds Association, July 18, 2016; David W. Blass,
The Commission finds that it is
General Counsel, Investment Company Institute, appropriate to designate a longer period (‘‘IEX’’ or ‘‘Exchange’’) is filing with the
dated July 18, 2016; Larry E. Thompson, Vice within which to take action on the Securities and Exchange Commission
Chairman and General Counsel, Depository Trust &
proposed Plan to afford the Commission (‘‘Commission’’) a proposed rule change
Clearing Corporation, dated July 18, 2016; Manisha to make a nonsubstantive change to
Kimmel, Chief Regulatory Officer, Wealth with additional time to consider the
correct typographical errors in the
Management, Thomson Reuters, dated July 18, comments received on the proposed
2016; Theodore R. Lazo, Managing Director and referenced time frames for the Post-
Plan, which are broad in scope.
Associate General Counsel, and Ellen Greene, Market Hours and the Post-Market
Managing Director, Financial Services Operations, Accordingly, pursuant to Section 11A Session trading in Rule 1.160(aa), the
Securities Industry and Financial Markets of the Act 7 and Rule 608 thereunder,8
Association, dated July 18, 2016; Anonymous,
referenced time frames for System
received July 18, 2016; Mary Lou Von Kaenel, the Commission designates November Hours in Rule 1.160(oo), and the
Managing Director, Financial Information Forum, 10, 2016 as the date for Commission referenced time frames for the Regular
dated July 18, 2016; Marc R. Bryant, Senior Vice action on the proposed Plan. Market Session, Pre-Market Session and
President, Deputy General Counsel, Fidelity
Investments, dated July 18, 2016; Mark Husler, For the Commission, by the Division of Post-Market Session in Rule 16.105(a)(7)
CEO, UniVista, and Jonathan Jachym, Head of North Trading and Markets, pursuant to delegated and (b)(7). The Exchange has designated
America Regulatory Strategy & Government authority.9 this rule change as ‘‘non-controversial’’
Relations, London Stock Exchange Group, dated under Section 19(b)(3)(A) of the Act 6
July 18, 2016; Gary Stone, Chief Strategy Officer for Robert W. Errett,
Trading Solutions and Global Regulatory and Policy
and provided the Commission with the
Deputy Secretary. notice required by Rule 19b–4(f)(6)(iii)
Group, Bloomberg, L.P., dated July 18, 2016; Bonnie
K. Wachtel, Wachtel Co Inc., dated July 18, 2016; [FR Doc. 2016–18477 Filed 8–3–16; 8:45 am] thereunder.7
Dennis M. Kelleher, President & CEO, Stephen W. BILLING CODE 8011–01–P
Hall, Legal Director & Securities Specialist, Lev The text of the proposed rule change
Bagramian, Senior Securities Policy Advisor, Better is available at the Exchange’s Web site
Markets, dated July 18, 2016; John A. McCarthy, at www.iextrading.com, at the principal
General Counsel, KCG Holdings, Inc., dated July 20, office of the Exchange, and at the
2016; Industry Members of the Development
Advisory Group (including Financial Information Commission’s Public Reference Room.
sradovich on DSK3GMQ082PROD with NOTICES

4 17 CFR 242.608.
Forum, Securities Industry and Financial Markets
5 15 U.S.C. 78k–1.
Association and Securities Traders Association), 1 15 U.S.C. 78s(b)(1).
dated July 20, 2016; Joanne Moffic-Silver, EVP, 6 The Commission notes that Sunday, November 2 15 U.S.C. 78a.
General Counsel & Corporate Secretary, Chicago 13, 2016 is the 180th day after publication of the 3 17 CFR 240.19b–4.
Board Options Exchange, Incorporated, dated July proposed Plan. 4 15 U.S.C. 78s(b)(1).
21, 2016; Elizabeth K. King, NYSE Group, Inc., 7 15 U.S.C. 78k–1. 5 17 CFR 240.19b–4.
dated July 21, 2016; John Russell, Chairman of the
8 17 CFR 242.608. 6 15 U.S.C. 78s(b)(3)(A).
Board, and James Toes, President & CEO, Securities
Traders Association, dated July 25, 2016. 9 17 CFR 200.30–3(a)(42). 7 17 CFR 240.19b–4(f)(6)(iii).

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Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Notices 51529

II. Self-Regulatory Organization’s objectives of Section 6(b)(5) of the Act 9 which may alleviate any potential
Statement of the Purpose of, and in particular, in that it is designed to confusion among market participants.
Statutory Basis for, the Proposed Rule prevent fraudulent and manipulative Therefore, the Commission hereby
Change acts and practices, to promote just and waives the operative delay and
In its filing with the Commission, the equitable principles of trade, to remove designates the proposed rule change
self-regulatory organization included impediments to and perfect the operative upon filing.13
mechanism of a free and open market At any time within 60 days of the
statements concerning the purpose of
and a national market system, and, in filing of the proposed rule change, the
and basis for the proposed rule change
general, to protect investors and the Commission summarily may
and discussed any comments it received
public interest. The Exchange believes it temporarily suspend such rule change if
on the proposed rule change. The text
is appropriate to make the specified it appears to the Commission that such
of these statement [sic] may be
corrections so that the correct times are action is necessary or appropriate in the
examined at the places specified in Item
referenced in its rules and alleviate any public interest, for the protection of
IV below. The self-regulatory
confusion among market participants. investors, or otherwise in furtherance of
organization has prepared summaries,
the purposes of the Act. If the
set forth in Sections A, B, and C below, B. Self-Regulatory Organization’s Commission takes such action, the
of the most significant aspects of such Statement on Burden on Competition Commission shall institute proceedings
statements. IEX does not believe that the under Section 19(b)(2)(B) 14 of the Act to
A. Self-Regulatory Organization’s proposed rule change will result in any determine whether the proposed rule
Statement of the Purpose of, and burden on competition because IEX is change should be approved or
Statutory Basis for, the Proposed Rule merely correcting its rules to correct disapproved.
Change inadvertent errors.
IV. Solicitation of Comments
1. Purpose C. Self-Regulatory Organization’s Interested persons are invited to
Statement on Comments on the submit written data, views and
The purpose of this proposed rule Proposed Rule Change Received From
filing is to correct typographical errors arguments concerning the foregoing,
Members, Participants, or Others including whether the proposed rule
in the referenced time frames for the
Post-Market Hours and the Post-Market Written comments were neither change is consistent with the Act.
Session trading in Rule 1.160(aa), the solicited nor received. Comments may be submitted by any of
referenced time frames for System III. Date of Effectiveness of the the following methods:
Hours in Rule 1.160(oo), as well as the Proposed Rule Change and Timing for Electronic Comments
referenced time frames for the Regular Commission Action
Market Session, Pre-Market Session and • Use the Commission’s Internet
The Exchange has designated this rule comment form (http://www.sec.gov/
Post-Market Session in Rule 16.105(a)(7)
filing as non-controversial under rules/sro.shtml); or
and (b)(7).
Specifically, Rule 1.160(aa) Section 19(b)(3)(A) 10 of the Act and • Send an email to rule-comments@
incorrectly states that the term ‘‘Post- Rule 19b–4(f)(6) 11 thereunder. Because sec.gov. Please include File Number SR–
Market Hours’’ or ‘‘Post Market Session’’ the proposed rule change does not: (i) IEX–2016–03 on the subject line.
shall mean the time between 4:30 p.m. Significantly affect the protection of
investors or the public interest; (ii) Paper Comments
and 5:30 p.m. Eastern Time. The rule
impose any significant burden on • Send paper comments in triplicate
should instead state that the term ‘‘Post-
competition; and (iii) become operative to Secretary, Securities and Exchange
Market Hours’’ or ‘‘Post Market Session’’
for 30 days from the date on which it Commission, 100 F Street NE.,
shall mean the time between 4:00 p.m.
was filed, or such shorter time as the Washington, DC 20549–1090.
and 5:00 p.m. Eastern Time. Similarly,
Commission may designate if consistent All submissions should refer to File
Rule 1.160(oo) incorrectly states that the
with the protection of investors and the Number SR–IEX–2016–03. This file
term ‘‘System Hours’’ ends at 5:30 p.m.
public interest, it has become effective number should be included on the
Eastern Time, rather than 5:00 p.m.
pursuant to Section 19(b)(3)(A) of the subject line if email is used. To help the
Eastern Time.
Act and Rule 19b–4(f)(6) thereunder.12 Commission process and review your
In addition, Rule 16.105(a)(7) and
The Exchange notes that its proposal comments more efficiently, please use
(b)(7) incorrectly state that Regular
makes a non-substantive change and has only one method. The Commission will
Market Session trading occurs until 4:15
asked the Commission to waive the 30- post all comments on the Commission’s
p.m. rather than 4:00 p.m. Those rule
day operative delay, making this Internet Web site (http://www.sec.gov/
provisions also incorrectly state that the
proposal operative upon filing. The rules/sro.shtml). Copies of the
Pre-Market Session begins at 4:00 a.m.
Commission believes that waiver of the submission, all subsequent
rather than 8:00 a.m. and that the Post-
operative delay is consistent with the amendments, all written statements
Market Session ends at 8:00 p.m. rather
protection of investors and the public with respect to the proposed rule
than 5:00 p.m.
interest because the Exchange is merely change that are filed with the
The proposed rule change would
correcting referenced time frames, Commission, and all written
correct the time frame references, and
thus clarify exchange rules and alleviate communications relating to the
9 15 U.S.C. 78f(b)(5).
any confusion among market proposed rule change between the
10 15 U.S.C. 78s(b)(3)(A).
Commission and any person, other than
sradovich on DSK3GMQ082PROD with NOTICES

participants. 11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
those that may be withheld from the
2. Statutory Basis
4(f)(6) requires a self-regulatory organization to give
13 For purposes only of waiving the 30-day
IEX believes that the proposed rule the Commission written notice of its intent to file
the proposed rule change at least five business days operative delay, the Commission has also
change is consistent with Section 6(b) 8 considered the proposed rule’s impact on
prior to the date of filing of the proposed rule
of the Act in general, and furthers the change, or such shorter time as designated by the efficiency, competition, and capital formation. See
Commission. The Exchange has satisfied this 15 U.S.C. 78c(f).
8 15 U.S.C. 78f(b). requirement. 14 15 U.S.C. 78s(b)(2)(B).

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public in accordance with the education (‘‘CE’’) program (‘‘CE Online registered persons; 10 and the S101
provisions of 5 U.S.C. 552, will be System’’).3 General Program for Series 7 and all
available for Web site viewing and CHX has designated this proposed other registered persons.
printing in the Commission’s Public rule change as non-controversial Given that test center delivery is no
Reference Room, 100 F Street NE., pursuant to section 19(b)(3)(A) 4 of the longer available for individuals other
Washington, DC 20549, on official Act and Rule 19b–4(f)(6) 5 thereunder than those individuals that require
business days between the hours of and has provided the Commission with accommodations due to a disability,11
10:00 a.m. and 3:00 p.m. Copies of the the notice required by Rule 19b– the Exchange proposes to adopt Article
filing also will be available for 4(f)(6)(iii).6 6, Rule 11(a)(4), which states that the
inspection and copying at the principal The text of this proposed rule change continuing education Regulatory
office of the Exchange. All comments is available on the Exchange’s Web site Element will be administered through
received will be posted without change; at (www.chx.com) and in the Web-based delivery or such other
the Commission does not edit personal Commission’s Public Reference Room. technological manner and format as
identifying information from specified by the Exchange.12 Should the
II. Self-Regulatory Organization’s Exchange determine to administer the
submissions. You should submit only
Statement of the Purpose of, and Regulatory Element through a delivery
information that you wish to make
Statutory Basis for, the Proposed Rule mechanism other than as described
available publicly. All submissions
Change under this proposed rule change, the
should refer to File Number SR–IEX–
2016–03 and should be submitted on or In its filing with the Commission, the Exchange would notify the Commission
before August 25, 2016. CHX included statements concerning and would need to file a further rule
the purpose of and basis for the change with the Commission.
For the Commission, by the Division of Before commencing a Web-based
Trading and Markets, pursuant to delegated proposed rule changes and discussed
any comments it received on the session, each candidate will be required
authority.15
proposed rule change. The text of these to agree to the Rules of Conduct for
Robert W. Errett,
statements may be examined at the Web-based delivery. Among other
Deputy Secretary. things, the Rules of Conduct will require
places specified in Item IV below. The
[FR Doc. 2016–18474 Filed 8–3–16; 8:45 am] each candidate to attest that he or she
CHX has prepared summaries, set forth
BILLING CODE 8011–01–P
in sections A, B and C below, of the is in fact the person who is taking the
most significant aspects of such Web-based session. The Rules of
statements. Conduct will also require that each
SECURITIES AND EXCHANGE candidate agree that the Regulatory
COMMISSION A. Self-Regulatory Organization’s Element content is intellectual property
Statement of the Purpose of, and and that the content cannot be copied or
[Release No. 34–78446; File No. SR–CHX– Statutory Basis for, the Proposed Rule redistributed by any means. If the
2016–12] Change Exchange discovers that a candidate has
1. Purpose violated the Rules of Conduct, the
Self-Regulatory Organizations; candidate will forfeit the results of the
Chicago Stock Exchange, Inc.; Notice The CE requirement under current Web-based session and may be subject
of Filing and Immediate Effectiveness Article 6, Rule 11 consists of a to disciplinary action by the Exchange.
of a Proposed Rule Change To Provide Regulatory Element 7 and a Firm Violation of the Rules of Conduct will
Web-Based Delivery of the Continuing Element.8 The Regulatory Element
Education Program applies to all registered persons and 10 The Exchange intends on filing a proposed rule
consists of periodic computer-based change to, among other things, replace the
July 29, 2016.
training on regulatory, compliance, Proprietary Trader registration category and the
Pursuant to section 19(b)(1) of the ethical, and supervisory subjects and corresponding Series 56 exam and the S501
Proprietary Trader Continuing Education Program
Securities Exchange Act of 1934 sales practice standards, which must be for Series 56 registered persons with the Securities
(‘‘Act’’) 1, and Rule 19b–42 thereunder, completed with prescribed timeframes.9 Trader registration category and the corresponding
notice is hereby given that on July 20, Current Article 6, Rule 11(a)(3) provides Series 57 exam and require such Series 57
2016, the Chicago Stock Exchange, Inc. that the Exchange offers the following registered persons to take the S101 General Program
to fulfill the Regulatory Element requirement, as the
(‘‘CHX’’ or the ‘‘Exchange’’) filed with Regulatory Elements for Exchange Series 56 was replaced with the Series 57 exam by
the Securities and Exchange registered persons: The S201 Supervisor FINRA, effective January 4, 2016. See Securities
Commission (‘‘Commission’’) the Program for registered principals and Exchange Act Release No. 75783 (August 28, 2015),
proposed rule change as described in supervisors; The S501 Series 56 80 FR 53369 (September 3, 2015) (Order Approving
a Proposed Rule Change To Establish the Securities
Items I and II below, which Items have Proprietary Trader Continuing Trader and Securities Trader Principal Registration
been prepared by the Exchange. The Education Program for Series 56 Categories) (SR–FINRA–2015–017).
Commission is publishing this notice to 11 As of July 1, 2016, FINRA required all

solicit comments on the proposed rule 3 The proposed rule change is based on a recent participants to complete their Regulatory Element
change from interested persons. FINRA filing adopting web-based delivery of the CE session using the CE Online System; provided that
Regulatory Element program. See Securities certain participants who, pursuant to the Americans
I. Self-Regulatory Organization’s Exchange Act Release No. 75581 (July 31, 2015), 80 with Disabilities Act, that [sic] need
accommodations in completing their session due to
Statement of the Terms of Substance of FR 47018 (August 6, 2015) (Order Approving a
a disability may apply for an accommodation and
the Proposed Rule Change Proposed Rule Change to Provide a Web-based
complete their session at a test center. See
sradovich on DSK3GMQ082PROD with NOTICES

Delivery Method for Completing the Regulatory
Element of the Continuing Education Requirements) Securities Exchange Act Release No. 78281 (July 11,
CHX proposes to amend the Rules of 2016), 81 FR 46133 (July 15, 2016) (SR–FINRA–
(SR–FINRA–2015–015).
the Exchange (‘‘CHX Rules’’) to provide 4 15 U.S.C. 78s(b)(3)(A). 2016–025); see also Americans with Disabilities Act
for web-based delivery of the continuing 5 17 CFR 240.19b–4(f)(6).
of 1990, Public Law 101–336, 104 Stat. 328 (1990).
12 The Exchange intends on filing a proposed rule
6 17 CFR 240.19b–4(f)(6)(iii).
change to amend its fee schedule to reduce the cost
15 17 CFR 200.30–3(a)(12). 7 See CHX Article 6, Rule 11(a).
of the Regulatory Element from $100 to $55 to be
1 15 U.S.C. 78s(b)(1). 8 See CHX Article 6, Rule 11(b).
consistent with Section 4(f) of the Schedule A to the
2 17 CFR 240.19b–4. 9 See to CHX Article 6, Rule 11(a) FINRA By-Laws.

VerDate Sep<11>2014 18:12 Aug 03, 2016 Jkt 238001 PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 E:\FR\FM\04AUN1.SGM 04AUN1
Document Created: 2016-08-04 02:53:05
Document Modified: 2016-08-04 02:53:05
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 51528