81 FR 5798 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Reflect Changes to the Investment Strategy for the PowerShares S&P 500® Downside Hedged Portfolio
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 22 (February 3, 2016)
Federal Register Volume 81, Issue 22 (February 3, 2016)
| Page Range | 5798-5800 | |
| FR Document | 2016-01922 |
[Federal Register Volume 81, Number 22 (Wednesday, February 3, 2016)] [Notices] [Pages 5798-5800] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-01922] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76981; File No. SR-NYSEArca-2016-20] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Reflect Changes to the Investment Strategy for the PowerShares S&P 500[supreg] Downside Hedged Portfolio January 28, 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 January 26, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes a rule change to reflect changes to the investment strategy for the PowerShares S&P 500[supreg] Downside Hedged Portfolio (the ``Fund''). The proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Commission previously approved listing and trading on the Exchange of shares (``Shares'') of the Fund, a series of the PowerShares Actively Managed Exchange-Traded Fund Trust (the ``Trust''),\4\ under NYSE Arca Equities Rule 8.600, which governs the listing and trading of Managed Fund Shares. Shares of the Fund have commenced listing and trading on the Exchange. --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 68158 (Nov. 5, 2012), 77 FR 67412 (Nov. 9, 2012) (SR-NYSEArca-2012-101) (``Prior Order''). See also Securities Exchange Act Release No. 67881 (Sept. 18, 2012), 77 FR 58889 (Sept. 24, 2012) (SR-NYSEArca-2012-101) (``Prior Notice,'' and together with the Prior Order, the ``Prior Release''). --------------------------------------------------------------------------- The Shares are offered by the Trust, a statutory trust organized under the laws of the State of Delaware and registered with the Commission as an open-end management investment company.\5\ The investment advisor to the Fund is Invesco PowerShares Capital Management LLC (the ``Adviser''). --------------------------------------------------------------------------- \5\ The Trust is registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1) (``1940 Act''). The Trust intends to file a prospectus supplement with the Commission or a post-effective amendment to its registration statement on Form N-1A under the Securities Act of 1933 (15 U.S.C. 77a) (``Securities Act''), and under the 1940 Act relating to the Fund (File Nos. 333-147622 and 811-22148) (``Registration Statement'') to reflect the changes requested in the proposed rule change upon effectiveness of the rule change. The description of the operation of the Trust and the Fund herein will be reflected in any such filing. In addition, the Commission has issued an order granting certain exemptive relief to the Trust under the1940 Act. See Investment Company Act Release No. 28171 (Feb. 27, 2008) (File No. 812-13386) (``Exemptive Order''). --------------------------------------------------------------------------- In this proposed rule change, the Exchange proposes to reflect changes to the investment strategy that the Adviser utilizes in seeking to achieve the Fund's investment objective, as described below.\6\ --------------------------------------------------------------------------- \6\ The changes described herein will be effective contingent upon filing of a prospectus supplement or upon effectiveness of the Trust's most recent post-effective amendment to its Registration Statement. See note 5, supra. The Adviser represents that the Adviser will not implement the changes described herein until the instant proposed rule change is operative. --------------------------------------------------------------------------- The Prior Release stated that, according to the Registration Statement, the Fund is an actively managed exchange-traded fund that will seek to achieve positive total returns in rising or falling markets that are not directly correlated to broad equity or fixed income market returns. According to the Registration Statement, the Fund seeks to achieve its investment objective by using a quantitative, rules-based investment strategy designed to provide returns that correspond to the performance of the S&P 500 Dynamic VEQTOR Index (the ``Benchmark''). The Registration Statement also stated that the allocation among the Fund's investments generally will approximate the allocation among the components of the Benchmark. The Adviser now represents that, rather than employing a quantitative, rules-based strategy designed to provide returns that correspond to the performance of the Benchmark, the Fund will use a quantitative, rules-based strategy that is designed to outperform the Benchmark rather than match it. The Adviser will continue to invest the Fund in the same instruments as are contained in the Benchmark, as discussed in the Prior Release. However, the Adviser now represents that the Fund will use portfolio management strategies in seeking to achieve its investment objective that allocate the Fund's assets in a manner that may not correspond to the Benchmark. The Adviser also now represents that, going forward, the Fund will seek to outperform the Benchmark rather than match it. The Exchange notes that the Prior Release stated that, according to the Registration Statement, the Fund may invest a portion of its assets in high-quality money market instruments, cash, and cash equivalents to provide liquidity, to collateralize its futures contracts investments, or to track the Benchmark during times when the Benchmark moves its entire allocation to cash. The Exchange also proposes to change this representation to state that the Fund may invest a portion of its assets in high-quality money market instruments, cash, and cash equivalents to provide liquidity, to collateralize its futures contracts investments, or during periods of heightened volatility when the Adviser believes that it is in the best interest of the Fund to do so. Because the Fund, going forward, would seek to outperform rather than match the Benchmark, the Fund would no longer utilize high quality money market instruments, cash and cash equivalents for the purpose of tracking the Benchmark. The Adviser represents that there is no change to the Fund's investment objective. The Fund will continue to invest in the securities and financial instruments identified in the Prior [[Page 5799]] Release and will remain subject to the allocation limitations identified in the Prior Release. Except for the changes noted above, all other facts presented and representations made in the Prior Release are unchanged. The Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. All terms referenced but not defined herein are defined in the Prior Release. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(5) \7\ that an exchange have rules that are 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, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices. The proposed changes to the representations contained in the Prior Release are limited in scope. The Adviser is changing the representation in the Prior Release that the Fund will employ a quantitative, rules-based strategy designed to provide returns that correspond to the performance of the Benchmark, to a representation that the Fund will use a quantitative, rules-based strategy that is designed to outperform the Benchmark rather than seek returns comparable to it. The Adviser represents that there is no change to the Fund's investment objective or to the securities and financial instruments identified in the Prior Release that the Fund utilizes in seeking to achieve its investment objective. The Fund's use of such securities and financial instruments will remain subject to the applicable allocation limitations identified in the Prior Release. The Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. The proposed rule change is designed to promote just and equitable principles of trade and to protect investors and the public interest in that the Adviser represents that there is no change to the Fund's investment objective. The Adviser represents that the allocation of the Fund's portfolio will remain consistent with the allocation limitations discussed in the Prior Release, and that the Fund may invest in the same instruments as are contained in the Benchmark, as discussed in the Prior Release. However, the Adviser now represents that the Fund will use portfolio management strategies in seeking to achieve its investment objective that allocate the Fund's assets in a manner that may not correspond to the Benchmark. The Adviser also now represents that, going forward, the Fund will seek to outperform the Benchmark rather than match it. As noted above, the Prior Release stated that, according to the Registration Statement, the Fund may invest a portion of its assets in high-quality money market instruments, cash, and cash equivalents to provide liquidity, to collateralize its futures contracts investments, or to track the Benchmark during times when the Benchmark moves its entire allocation to cash. The Exchange also proposes to change this representation to state that the Fund may invest a portion of its assets in high-quality money market instruments, cash, and cash equivalents to provide liquidity, to collateralize its futures contracts investments, or during periods of heightened volatility when the Adviser believes that it is in the best interest of the Fund to do so. The proposed rule change is designed to perfect the mechanism of a free and open market and, in general, to protect investors and the public interest in that the Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. The proposed rule change will permit the Fund to operate in a manner similar to other issues of Managed Fund Shares that seek to outperform an index and will permit continued listing on the Exchange of the Fund after it begins to utilize the quantitative, rules-based strategy designed to outperform the Benchmark, which will enhance competition among issues of Managed Fund Shares currently trading on the Exchange. Except for the changes noted above, all other representations made in the Prior Release are unchanged. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed change will permit the Fund to operate in a manner similar to other issues of Managed Fund Shares that seek to outperform an index and will permit continued listing on the Exchange of the Fund after it begins to utilize the quantitative, rules-based strategy designed to outperform the Benchmark, which will enhance competition among issues of Managed Fund Shares. 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 Because the foregoing 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, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\ --------------------------------------------------------------------------- \8\ 15 U.S.C. 78s(b)(3)(A). \9\ 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. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or [[Page 5800]] Send an email to [email protected]. Please include File Number SR-NYSEArca-2016-20 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-NYSEArca-2016-20. 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 will also 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-NYSEArca-2016-20 and should be submitted on or before February 24, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\10\ --------------------------------------------------------------------------- \10\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-01922 Filed 2-2-16; 8:45 am] BILLING CODE 8011-01-P
![5798 Federal Register / Vol. 81, No. 22 / Wednesday, February 3, 2016 / Notices
For the Commission, by the Division of The Exchange has prepared summaries, correlated to broad equity or fixed
Trading and Markets, pursuant to delegated set forth in sections A, B, and C below, income market returns. According to the
authority.10 of the most significant parts of such Registration Statement, the Fund seeks
Robert W. Errett, statements. to achieve its investment objective by
Deputy Secretary. using a quantitative, rules-based
A. Self-Regulatory Organization’s
[FR Doc. 2016–01925 Filed 2–2–16; 8:45 am] investment strategy designed to provide
Statement of the Purpose of, and the
BILLING CODE 8011–01–P returns that correspond to the
Statutory Basis for, the Proposed Rule
performance of the S&P 500 Dynamic
Change
VEQTOR Index (the ‘‘Benchmark’’). The
SECURITIES AND EXCHANGE 1. Purpose Registration Statement also stated that
COMMISSION The Commission previously approved the allocation among the Fund’s
listing and trading on the Exchange of investments generally will approximate
[Release No. 34–76981; File No. SR–
NYSEArca–2016–20] shares (‘‘Shares’’) of the Fund, a series the allocation among the components of
of the PowerShares Actively Managed the Benchmark.
Self-Regulatory Organizations; NYSE Exchange-Traded Fund Trust (the The Adviser now represents that,
Arca, Inc.; Notice of Filing and ‘‘Trust’’),4 under NYSE Arca Equities rather than employing a quantitative,
Immediate Effectiveness of Proposed Rule 8.600, which governs the listing rules-based strategy designed to provide
Rule Change To Reflect Changes to and trading of Managed Fund Shares. returns that correspond to the
the Investment Strategy for the Shares of the Fund have commenced performance of the Benchmark, the
PowerShares S&P 500® Downside listing and trading on the Exchange. Fund will use a quantitative, rules-
Hedged Portfolio The Shares are offered by the Trust, based strategy that is designed to
a statutory trust organized under the outperform the Benchmark rather than
January 28, 2016. laws of the State of Delaware and match it.
Pursuant to Section 19(b)(1) 1 of the registered with the Commission as an The Adviser will continue to invest
Securities Exchange Act of 1934 (the open-end management investment the Fund in the same instruments as are
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 company.5 The investment advisor to contained in the Benchmark, as
notice is hereby given that, on January the Fund is Invesco PowerShares discussed in the Prior Release. However,
26, 2016, NYSE Arca, Inc. (the Capital Management LLC (the the Adviser now represents that the
‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with ‘‘Adviser’’). Fund will use portfolio management
the Securities and Exchange In this proposed rule change, the strategies in seeking to achieve its
Commission (the ‘‘Commission’’) the Exchange proposes to reflect changes to investment objective that allocate the
proposed rule change as described in the investment strategy that the Adviser Fund’s assets in a manner that may not
Items I and II below, which Items have utilizes in seeking to achieve the Fund’s correspond to the Benchmark. The
been prepared by the self-regulatory investment objective, as described Adviser also now represents that, going
organization. The Commission is below.6 forward, the Fund will seek to
publishing this notice to solicit The Prior Release stated that, outperform the Benchmark rather than
comments on the proposed rule change according to the Registration Statement, match it.
from interested persons. the Fund is an actively managed The Exchange notes that the Prior
exchange-traded fund that will seek to Release stated that, according to the
I. Self-Regulatory Organization’s Registration Statement, the Fund may
achieve positive total returns in rising or
Statement of the Terms of Substance of invest a portion of its assets in high-
falling markets that are not directly
the Proposed Rule Change quality money market instruments,
The Exchange proposes a rule change 4 See Securities Exchange Act Release No. 68158 cash, and cash equivalents to provide
to reflect changes to the investment (Nov. 5, 2012), 77 FR 67412 (Nov. 9, 2012) (SR– liquidity, to collateralize its futures
strategy for the PowerShares S&P 500® NYSEArca–2012–101) (‘‘Prior Order’’). See also contracts investments, or to track the
Securities Exchange Act Release No. 67881 (Sept. Benchmark during times when the
Downside Hedged Portfolio (the 18, 2012), 77 FR 58889 (Sept. 24, 2012) (SR–
‘‘Fund’’). The proposed rule change is NYSEArca–2012–101) (‘‘Prior Notice,’’ and together Benchmark moves its entire allocation
available on the Exchange’s Web site at with the Prior Order, the ‘‘Prior Release’’). to cash. The Exchange also proposes to
www.nyse.com, at the principal office of
5 The Trust is registered under the Investment change this representation to state that
Company Act of 1940 (15 U.S.C. 80a–1) (‘‘1940 the Fund may invest a portion of its
the Exchange, and at the Commission’s Act’’). The Trust intends to file a prospectus
Public Reference Room. supplement with the Commission or a post-effective
assets in high-quality money market
amendment to its registration statement on Form N– instruments, cash, and cash equivalents
II. Self-Regulatory Organization’s 1A under the Securities Act of 1933 (15 U.S.C. 77a) to provide liquidity, to collateralize its
Statement of the Purpose of, and (‘‘Securities Act’’), and under the 1940 Act relating futures contracts investments, or during
Statutory Basis for, the Proposed Rule to the Fund (File Nos. 333–147622 and 811–22148)
(‘‘Registration Statement’’) to reflect the changes periods of heightened volatility when
Change requested in the proposed rule change upon the Adviser believes that it is in the best
In its filing with the Commission, the effectiveness of the rule change. The description of interest of the Fund to do so. Because
the operation of the Trust and the Fund herein will the Fund, going forward, would seek to
self-regulatory organization included be reflected in any such filing. In addition, the
statements concerning the purpose of, Commission has issued an order granting certain outperform rather than match the
and basis for, the proposed rule change exemptive relief to the Trust under the1940 Act. Benchmark, the Fund would no longer
and discussed any comments it received See Investment Company Act Release No. 28171 utilize high quality money market
(Feb. 27, 2008) (File No. 812–13386) (‘‘Exemptive
mstockstill on DSK4VPTVN1PROD with NOTICES
on the proposed rule change. The text Order’’).
instruments, cash and cash equivalents
of those statements may be examined at 6 The changes described herein will be effective for the purpose of tracking the
the places specified in Item IV below. contingent upon filing of a prospectus supplement Benchmark.
or upon effectiveness of the Trust’s most recent The Adviser represents that there is
10 17
post-effective amendment to its Registration no change to the Fund’s investment
CFR 200.30–3(a)(12). Statement. See note 5, supra. The Adviser
1 15 U.S.C. 78s(b)(1). represents that the Adviser will not implement the
objective. The Fund will continue to
2 15 U.S.C. 78a.
changes described herein until the instant proposed invest in the securities and financial
3 17 CFR 240.19b–4. rule change is operative. instruments identified in the Prior
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![5800 Federal Register / Vol. 81, No. 22 / Wednesday, February 3, 2016 / Notices
• Send an email to rule-comments@ SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
sec.gov. Please include File Number SR– COMMISSION Statement of the Purpose of, and
NYSEArca–2016–20 on the subject line. Statutory Basis for, the Proposed Rule
[Release No. 34–76993; File No. SR–CBOE– Change
Paper Comments
2016–004] 1. Purpose
• Send paper comments in triplicate The Exchange proposes to increase
to Secretary, Securities and Exchange Self-Regulatory Organizations;
the Options Regulatory Fee (‘‘ORF’’)
Commission, 100 F Street NE., Chicago Board Options Exchange,
from $.0064 to $.0081 per contract in
Washington, DC 20549–1090. Incorporated; Notice of Filing and
order to help ensure that revenue
Immediate Effectiveness of a Proposed
All submissions should refer to File collected from the ORF, in combination
Rule Change Relating to the Options with other regulatory fees and fines,
Number SR–NYSEArca–2016–20. This Regulatory Fee
file number should be included on the meets the Exchange’s total regulatory
subject line if email is used. To help the January 28, 2016. costs. The proposed fee change would
Commission process and review your be operative on February 1, 2016.
Pursuant to Section 19(b)(1) of the The ORF is assessed by the Exchange
comments more efficiently, please use Securities Exchange Act of 1934 to each Trading Permit Holder for all
only one method. The Commission will (‘‘Act’’),1 and Rule 19b–4 thereunder,2 options transactions executed or cleared
post all comments on the Commission’s notice is hereby given that on January by the Trading Permit Holder that are
Internet Web site (http://www.sec.gov/ 14, 2016, Chicago Board Options cleared by The Options Clearing
rules/sro.shtml). Copies of the Exchange, Incorporated (the ‘‘Exchange’’ Corporation (‘‘OCC’’) in the customer
submission, all subsequent or ‘‘CBOE’’) filed with the Securities range (i.e., transactions that clear in a
amendments, all written statements and Exchange Commission (the customer account at OCC) regardless of
with respect to the proposed rule ‘‘Commission’’) the proposed rule the exchange on which the transaction
change that are filed with the change as described in Items I, II, and occurs.3 In other words, the Exchange
Commission, and all written III below, which Items have been imposes the ORF on all customer-range
communications relating to the prepared by the Exchange. The transactions executed by a Trading
proposed rule change between the Commission is publishing this notice to Permit Holder, even if the transactions
Commission and any person, other than solicit comments on the proposed rule do not take place on the Exchange. The
those that may be withheld from the change from interested persons. ORF also is charged for transactions that
public in accordance with the are not executed by a Trading Permit
provisions of 5 U.S.C. 552, will be I. Self-Regulatory Organization’s Holder but are ultimately cleared by a
available for Web site viewing and Statement of the Terms of Substance of Trading Permit Holder. In the case
printing in the Commission’s Public the Proposed Rule Change where a Trading Permit Holder executes
Reference Room, 100 F Street NE., a transaction and a different Trading
Chicago Board Options Exchange, Permit Holder clears the transaction, the
Washington, DC 20549, on official
Incorporated (the ‘‘Exchange’’ or ORF is assessed to the Trading Permit
business days between the hours of
‘‘CBOE’’) proposes to amend the Holder who executed the transaction. In
10:00 a.m. and 3:00 p.m. Copies of such
Options Regulatory Fee. The text of the the case where a non-Trading Permit
filing will also be available for
proposed rule change is available on the Holder executes a transaction and a
inspection and copying at the principal
Exchange’s Web site (http:// Trading Permit Holder clears the
office of the Exchange. All comments
www.cboe.com/AboutCBOE/ transaction, the ORF is assessed to the
received will be posted without change;
CBOELegalRegulatoryHome.aspx), at Trading Permit Holder who clears the
the Commission does not edit personal
the Exchange’s Office of the Secretary, transaction. The ORF is collected
identifying information from indirectly from Trading Permit Holders
and at the Commission’s Public
submissions. You should submit only through their clearing firms by OCC on
Reference Room.
information that you wish to make behalf of the Exchange.
available publicly. All submissions II. Self-Regulatory Organization’s The ORF is designed to recover a
should refer to File Number SR– Statement of the Purpose of, and material portion of the costs to the
NYSEArca–2016–20 and should be Statutory Basis for, the Proposed Rule Exchange of the supervision and
submitted on or before February 24, Change regulation of Trading Permit Holder
2016. customer options business, including
In its filing with the Commission, the performing routine surveillances,
For the Commission, by the Division of Exchange included statements
Trading and Markets, pursuant to delegated investigations, examinations, financial
concerning the purpose of and basis for monitoring, as well as policy,
authority.10
the proposed rule change and discussed rulemaking, interpretive and
Robert W. Errett, any comments it received on the enforcement activities. The Exchange
Deputy Secretary. proposed rule change. The text of these believes that revenue generated from the
[FR Doc. 2016–01922 Filed 2–2–16; 8:45 am] statements may be examined at the ORF, when combined with all of the
BILLING CODE 8011–01–P places specified in Item IV below. The Exchange’s other regulatory fees and
Exchange has prepared summaries, set fines, will cover a material portion, but
mstockstill on DSK4VPTVN1PROD with NOTICES
forth in sections A, B, and C below, of not all, of the Exchange’s regulatory
the most significant aspects of such costs. The Exchange notes that its
statements. regulatory responsibilities with respect
to Trading Permit Holder compliance
3 The ORF also applies to customer-range
1 15 U.S.C. 78s(b)(1). transactions executed during Extended Trading
10 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. Hours.
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Document Created: 2016-02-03 00:40:39
Document Modified: 2016-02-03 00:40:39
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 5798 |
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