81 FR 57634 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 163 (August 23, 2016)

Page Range		57634-57635
FR Document		2016-20214

Federal Register, Volume 81 Issue 163 (Tuesday, August 23, 2016)

[Federal Register Volume 81, Number 163 (Tuesday, August 23, 2016)]
[Notices]
[Pages 57634-57635]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-20214]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold a closed meeting on Thursday, August 
25, 2016 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (a)(10), permit 
consideration of the scheduled matter at the closed meeting.
    Commissioner Piwowar, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matter of the closed meeting will be:
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings;
    Resolution of litigation claims; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.

[[Page 57635]]

    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact Brent J. Fields from 
the Office of the Secretary at (202) 551-5400.

    Dated: August 18, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-20214 Filed 8-19-16; 11:15 am]
 BILLING CODE 8011-01-P

57634 Federal Register / Vol. 81, No. 163 / Tuesday, August 23, 2016 / Notices

C. Self-Regulatory Organization’s operative delay and designates the Washington, DC 20549 on official
Statement on Comments on the proposal operative upon filing.17 business days between the hours of
Proposed Rule Change Received From At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the
Members, Participants, or Others filing of the proposed rule change, the filing also will be available for
Commission summarily may inspection and copying at the principal
No written comments were solicited temporarily suspend such rule change if office of the Exchange. All comments
or received with respect to the proposed it appears to the Commission that such received will be posted without change;
rule change. action is necessary or appropriate in the the Commission does not edit personal
III. Date of Effectiveness of the public interest, for the protection of identifying information from
Proposed Rule Change and Timing for investors, or otherwise in furtherance of submissions. You should submit only
Commission Action the purposes of the Act. If the information that you wish to make
Commission takes such action, the available publicly. All submissions
The Exchange has filed the proposed Commission shall institute proceedings should refer to File Number SR–
rule change pursuant to Section to determine whether the proposed rule NYSEArca–2016–113 and should be
19(b)(3)(A) of the Act 11 and Rule 19b– change should be approved or submitted on or before September 12,
4(f)(6) thereunder.12 Because the disapproved. 2016.
proposed rule change does not: (i) For the Commission, by the Division of
Significantly affect the protection of IV. Solicitation of Comments
Trading and Markets, pursuant to delegated
investors or the public interest; (ii) Interested persons are invited to authority.18
impose any significant burden on submit written data, views, and Brent J. Fields,
competition; and (iii) become operative arguments concerning the foregoing, Secretary.
prior to 30 days from the date on which including whether the proposed rule
[FR Doc. 2016–20062 Filed 8–22–16; 8:45 am]
it was filed, or such shorter time as the change is consistent with the Act.
BILLING CODE 8011–01–P
Commission may designate, if Comments may be submitted by any of
consistent with the protection of the following methods:
investors and the public interest, the SECURITIES AND EXCHANGE
Electronic Comments
proposed rule change has become COMMISSION
effective pursuant to Section 19(b)(3)(A) • Use the Commission’s Internet
of the Act 13 and Rule 19b–4(f)(6) comment form (http://www.sec.gov/ Sunshine Act Meeting
thereunder.14 rules/sro.shtml); or
A proposed rule change filed under • Send an email to rule-comments@ Notice is hereby given, pursuant to
Rule 19b–4(f)(6) 15 normally does not sec.gov. Please include File Number SR– the provisions of the Government in the
become operative prior to 30 days after NYSEArca–2016–113 on the subject Sunshine Act, Public Law 94–409, that
the date of the filing. However, pursuant line. the Securities and Exchange
to Rule 19b4(f)(6)(iii),16 the Commission Paper Comments Commission will hold a closed meeting
may designate a shorter time if such on Thursday, August 25, 2016 at 2 p.m.
• Send paper comments in triplicate Commissioners, Counsel to the
action is consistent with the protection
to Brent J. Fields, Secretary, Securities Commissioners, the Secretary to the
of investors and the public interest. The
and Exchange Commission, 100 F Street Commission, and recording secretaries
Exchange has asked the Commission to
NE., Washington, DC 20549–1090. will attend the closed meeting. Certain
waive the 30-day operative delay so that
the proposed rule change may become All submissions should refer to File staff members who have an interest in
operative before the expiration of the Number SR–NYSEArca–2016–113. This the matters also may be present.
file number should be included on the The General Counsel of the
current pilot period. The Commission
subject line if email is used. To help the Commission, or her designee, has
believes that waiving the 30-day
Commission process and review your certified that, in her opinion, one or
operative delay is consistent with the
comments more efficiently, please use more of the exemptions set forth in 5
protection of investors and the public
only one method. The Commission will U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
interest, because waiver would allow
post all comments on the Commission’s and 17 CFR 200.402(a)(3), (a)(5), (a)(7),
the pilot period to continue
Internet Web site (http://www.sec.gov/ (a)(9)(ii) and (a)(10), permit
uninterrupted after its current
rules/sro.shtml). Copies of the consideration of the scheduled matter at
expiration date of August 31, 2016,
submission, all subsequent the closed meeting.
thereby avoiding any potential investor Commissioner Piwowar, as duty
confusion that could result from amendments, all written statements
with respect to the proposed rule officer, voted to consider the items
temporary interruption in the pilot listed for the closed meeting in closed
program. For this reason, the change that are filed with the
Commission, and all written session.
Commission hereby waives the 30-day The subject matter of the closed
communications relating to the
proposed rule change between the meeting will be:
11 15 U.S.C. 78s(b)(3)(A).
Commission and any person, other than Institution and settlement of
12 17 CFR 240.19b–4(f)(6).
13 15 U.S.C. 78s(b)(3)(A). those that may be withheld from the injunctive actions;
Institution and settlement of
14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– public in accordance with the
administrative proceedings;
4(f)(6)(iii) requires the Exchange to give the provisions of 5 U.S.C. 552, will be
sradovich on DSK3GMQ082PROD with NOTICES

Commission written notice of the Exchange’s intent Resolution of litigation claims; and
available for Web site viewing and Other matters relating to enforcement
to file the proposed rule change, along with a brief
description and text of the proposed rule change, printing in the Commission’s Public proceedings.
at least five business days prior to the date of filing Reference Room, 100 F Street NE., At times, changes in Commission
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange 17 For purposes only of waiving the 30-day
priorities require alterations in the
has satisfied this requirement. operative delay, the Commission has considered the scheduling of meeting items.
15 17 CFR 240.19b–4(f)(6).
proposed rule’s impact on efficiency, competition,
16 17 CFR 240.19b–4(f)(6)(iii). and capital formation. See 15 U.S.C. 78c(f). 18 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 81, No. 163 / Tuesday, August 23, 2016 / Notices 57635

For further information and to concerning the purpose of and basis for further clarified and a new definition of
ascertain what, if any, matters have been the proposed rule changes. The text of Invoice Period has been added, which is
added, deleted or postponed, please these statements may be examined at used to determine the revised timing of
contact Brent J. Fields from the Office of the places specified in Item IV below. various settlement requirements. These
the Secretary at (202) 551–5400. ICE Clear Europe has prepared changes are consistent with the
Dated: August 18, 2016. summaries, set forth in sections A, B, approach used for other natural gas
Brent J. Fields, and C below, of the most significant contracts cleared by ICE Clear Europe.
aspects of such statements. In paragraph 6, several amendments
Secretary.
have been made to settlement
[FR Doc. 2016–20214 Filed 8–19–16; 11:15 am] A. Self-Regulatory Organization’s timetables, including to shorten certain
BILLING CODE 8011–01–P Statement of the Purpose of, and periods for payment and release of
Statutory Basis for, the Proposed Rule relevant security or delivery margin.
Change Under the revised Delivery Procedures,
SECURITIES AND EXCHANGE
1. Purpose payment for completed deliveries will
COMMISSION
be made on the second clearing day
The purpose of the rule changes is to
[Release No. 34–78604; File No. SR–ICEEU– following the relevant delivery day, and
2016–009] modify the ICE Clear Europe Delivery
buyer’s margin will also be released on
Procedures relating to the settlement of
such day. Timing for delivery of
Self-Regulatory Organizations; ICE UK natural gas spot contracts and
relevant invoice details has been tied to
Clear Europe Limited; Notice of Filing European emissions contracts. The
the new Invoice Period definition. In
and Immediate Effectiveness of a natural gas spot contracts, specifically connection with the revised (and
Proposed Rule Change Relating to the the ICE Endex UK OCM Natural Gas shorter) settlement cycle, the
Settlement of UK Spot Natural Gas Spot Contracts (‘‘UK OCM Natural Gas amendments also eliminate the concept
Contracts and European Emissions Spot Contracts’’), are traded on the ICE of contingent credits made for prior
Contracts Endex market and cleared by ICE Clear deliveries. Revised paragraph 7 clarifies
Europe. The European emissions futures the treatment of failed deliveries,
August 17, 2016. contracts (‘‘European Emissions
Pursuant to Section 19(b)(1) of the including the ability of the Clearing
Contracts’’) are traded on the ICE House to require additional delivery
Securities Exchange Act of 1934 Futures Europe market and cleared by
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 margin from the buyer and seller, and
ICE Clear Europe. ICE Clear Europe does the timing of ultimate payment in
notice is hereby given that on August 3, not otherwise propose to amend its
2016, ICE Clear Europe Limited (‘‘ICE respect of a prior month’s failed
clearing rules or procedures in deliveries. Certain reporting
Clear Europe’’ or ‘‘Clearing House’’) connection with these changes.
filed with the Securities and Exchange responsibilities and deadlines in
ICE Clear Europe submits revisions to paragraph 8 are also clarified in light of
Commission (‘‘Commission’’) the Parts A and E of the Delivery
proposed rule changes described in the adoption of the Invoice Period
Procedures. The text of the proposed concept.
Items I, II and III below, which Items Delivery Procedure amendments is
have been prepared primarily by ICE attached in Exhibit 5, with additions 2. Statutory Basis
Clear Europe. ICE Clear Europe filed the underlined and deletions in ICE Clear Europe believes that the
proposed rule change pursuant to strikethrough text. proposed rule changes are consistent
Section 19(b)(3)(A) of the Act,3 and Rule In Part A of the Delivery Procedures, with the requirements of Section 17A of
19b–4(f)(4)(ii) 4 thereunder, so that the which applies to the European the Act 5 and the regulations thereunder
proposal was effective upon filing with Emissions Contracts, a new paragraph 4 applicable to it, including the standards
the Commission. The Commission is has been added to specify the under Rule 17Ad–22,6 and in particular
publishing this notice to solicit requirements on buyers and sellers are consistent with the prompt and
comments on the proposed rule change under the relevant contracts to provide accurate clearance and settlement of
from interested persons. delivery margin (and subsequent securities transactions and derivative
I. Self-Regulatory Organization’s paragraphs have been renumbered). The agreements, contracts and transactions
Statement of the Terms of Substance of delivery timetable in paragraph 5 and cleared by ICE Clear Europe, the
the Proposed Rule Change documentation requirements in safeguarding of securities and funds in
paragraph 9 have been amended to the custody or control of ICE Clear
The principal purpose of the changes
remove references to the ICE Registry Europe and the protection of investors
is to amend certain provisions of the ICE
Account Notification Form, which is no and the public interest, within the
Clear Europe Delivery Procedures
longer required. The amendments to the meaning of Section 17A(b)(3)(F) of the
relating to the settlement of UK spot
delivery timetable in paragraph 5 also Act.7 Specifically, the amendments are
natural gas contracts and European
clarify the timing of requirements to designed to enhance the procedures for
emissions contracts that are cleared by
provide delivery margin and the timing settlement of the UK OCM Natural Gas
ICE Clear Europe.
for the buyer to pay the full contract Spot Contracts and European Emissions
II. Self-Regulatory Organization’s value to the Clearing House and for the Contracts. Among other changes, with
Statement of the Purpose of, and Clearing House to remit the full contract respect to the UK OCM Natural Gas
Statutory Basis for, the Proposed Rule value to the applicable seller. The Contracts, the amendments will shorten
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Change delivery timetable has been further the settlement cycle and facilitate
In its filing with the Commission, ICE revised to change the deadlines for prompt payment for completed
Clear Europe included statements submission of certain delivery-related deliveries. This will, in turn, reduce
forms to the Clearing House. settlement risk. The amendments will
1 15 U.S.C. 78s(b)(1). In Part E of the Delivery Procedures,
2 17 CFR 240.19b–4. which applies to the UK OCM Natural 5 15 U.S.C. 78q–1.
3 15 U.S.C. 78s(b)(3)(A). Gas Spot Contracts, in paragraph 1 the 6 17 CFR 240.17Ad–22.
4 17 CFR 240.19b–4(f)(4)(ii). definition of Delivery Month has been 7 15 U.S.C. 78q–1(b)(3)(F).

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Document Created: 2018-02-09 11:40:32
Document Modified: 2018-02-09 11:40:32

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 57634