81_FR_61441 81 FR 61269 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Withdrawal of a Proposed Rule Change Related to the Adoption of an Options Exchange Risk Control Standards Policy

81 FR 61269 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Withdrawal of a Proposed Rule Change Related to the Adoption of an Options Exchange Risk Control Standards Policy

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 172 (September 6, 2016)

Page Range61269-61269
FR Document2016-21257

Federal Register, Volume 81 Issue 172 (Tuesday, September 6, 2016) 
[Federal Register Volume 81, Number 172 (Tuesday, September 6, 2016)]
[Notices]
[Page 61269]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-21257]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78724; File No. SR-OCC-2016-004]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Withdrawal of a Proposed Rule Change Related to the Adoption 
of an Options Exchange Risk Control Standards Policy

August 30, 2016.
    On March 4, 2016, The Options Clearing Corporation (``OCC'') filed 
with the Securities and Exchange Commission (``Commission''), pursuant 
to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') 
\1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to adopt a new 
Options Exchange Risk Control Standards Policy and revise its Schedule 
of Fees to impose on clearing members a fee of two cents per cleared 
options contract (per side) executed on an options exchange that did 
not demonstrate sufficient risk controls designed to meet the proposed 
set of principles-based risk control standards. The proposed rule 
change was published for comment in the Federal Register on March 18, 
2016.\3\ On April 27, 2016, the Commission designated a longer period 
within which to approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
approve or disapprove the proposed rule change.\4\ On June 13, 2016, 
the Commission issued an order instituting proceedings to determine 
whether to approve or disapprove the proposed rule change.\5\ The 
Commission received eight comment letters on the proposed rule 
change.\6\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 77358 (March 14, 
2016), 81 FR 14921 (March 18, 2016).
    \4\ See Securities Exchange Act Release No. 77720 (April 27, 
2016), 81 FR 26609 (May 3, 2016).
    \5\ See Securities Exchange Act Release No. 78056 (June 13, 
2016), 81 FR 39732 (June 17, 2016).
    \6\ See Letters from Mark Dehnert, Managing Director, Goldman 
Sachs & Co., and Kyle Czepiel, Co-Chief Executive Officer, Goldman 
Sachs Execution & Clearing, L.P., dated March 28, 2016, to 
Secretary, Commission; Lisa J. Fall, President, BOX Options 
Exchange, dated April 6, 2016, to Brent J. Fields, Secretary, 
Commission; James G. Lundy, Associate General Counsel, ABN AMRO 
Clearing Chicago LLC, dated April 8, 2016, to Brent J. Fields, 
Secretary, Commission; Ellen Greene, Managing Director, Securities 
Industry and Financial Markets Association, dated April 12, 2016, to 
Robert W. Errett, Deputy Secretary, Commission; Michael J. Simon, 
Secretary and General Counsel, International Securities Exchange, 
LLC, dated April 20, 2016, to Brent J. Fields, Secretary, 
Commission; Edward T. Tilly, Chief Executive Officer, Chicago Board 
Options Exchange, Inc., dated April 20, 2016, to Brent J. Fields, 
Secretary, Commission; OCC, dated June 13, 2016, to Brent J. Fields, 
Secretary, Commission; and Lisa J. Fall, President, BOX Options 
Exchange, dated June 21, 2016, to Brent J. Fields, Secretary, 
Commission.
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    On July 14, 2016, OCC filed a withdrawal of its proposed rule 
change (SR-OCC-2016-004) from consideration by the Commission. The 
Commission is hereby publishing notice of the withdrawal.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21257 Filed 9-2-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 172 / Tuesday, September 6, 2016 / Notices 61269 shares of the Managed Emerging the Securities and Exchange For the Commission, by the Division of Markets Trust under proposed amended Commission (‘‘Commission’’), pursuant Trading and Markets, pursuant to delegated NYSE Arca Equities Rule 8.700. The to section 19(b)(1) of the Securities authority.7 proposed rule change was published for Exchange Act of 1934 (‘‘Act’’) 1 and Rule Robert W. Errett, comment in the Federal Register on July 19b–4 thereunder,2 a proposed rule Deputy Secretary. 21, 2016.3 The Commission has received change to adopt a new Options [FR Doc. 2016–21257 Filed 9–2–16; 8:45 am] no comments on the proposal. Exchange Risk Control Standards Policy BILLING CODE 8011–01–P Section 19(b)(2) of the Act 4 provides and revise its Schedule of Fees to that within 45 days of the publication of impose on clearing members a fee of notice of the filing of a proposed rule two cents per cleared options contract SECURITIES AND EXCHANGE change, or within such longer period up COMMISSION (per side) executed on an options to 90 days as the Commission may exchange that did not demonstrate [Investment Company Act Release No. designate if it finds such longer period to be appropriate and publishes its sufficient risk controls designed to meet 32243; 812–14657] reasons for so finding, or as to which the the proposed set of principles-based risk control standards. The proposed rule Rational Advisors, Inc. and Strategy self-regulatory organization consents, Shares; Notice of Application the Commission shall either approve the change was published for comment in proposed rule change, disapprove the the Federal Register on March 18, August 30, 2016. proposed rule change, or institute 2016.3 On April 27, 2016, the AGENCY: Securities and Exchange proceedings to determine whether the Commission designated a longer period Commission (‘‘Commission’’). proposed rule change should be within which to approve the proposed ACTION: Notice of an application for an disapproved. The 45th day after rule change, disapprove the proposed order under section 6(c) of the publication of the notice for this rule change, or institute proceedings to Investment Company Act of 1940 (the proposed rule change is September 4, determine whether to approve or ‘‘Act’’) for an exemption from sections 2016. The Commission is extending this disapprove the proposed rule change.4 2(a)(32), 5(a)(1), 22(d), and 22(e) of the 45-day time period. On June 13, 2016, the Commission Act and rule 22c–1 under the Act, under The Commission finds it appropriate issued an order instituting proceedings sections 6(c) and 17(b) of the Act for an to designate a longer period within to determine whether to approve or exemption from sections 17(a)(1) and which to take action on the proposed disapprove the proposed rule change.5 17(a)(2) of the Act, and under section rule change so that it has sufficient time The Commission received eight 12(d)(1)(J) for an exemption from to consider this proposed rule change. comment letters on the proposed rule sections 12(d)(1)(A) and 12(d)(1)(B) of Accordingly, the Commission, pursuant change.6 the Act. The requested order would to section 19(b)(2) of the Act,5 permit (a) index-based series of certain designates October 19, 2016, as the date On July 14, 2016, OCC filed a withdrawal of its proposed rule change open-end management investment by which the Commission shall either companies (‘‘Funds’’) to issue shares approve or disapprove, or institute (SR–OCC–2016–004) from consideration redeemable in large aggregations only proceedings to determine whether to by the Commission. The Commission is (‘‘Creation Units’’); (b) secondary market disapprove, the proposed rule change hereby publishing notice of the transactions in Fund shares to occur at (File No. SR–NYSEArca–2016–96). withdrawal. negotiated market prices rather than at For the Commission, by the Division of net asset value (‘‘NAV’’); (c) certain 1 15 U.S.C. 78s(b)(1). Trading and Markets, pursuant to delegated Funds to pay redemption proceeds, 2 17 CFR 240.19b–4. authority.6 under certain circumstances, more than 3 See Securities Exchange Act Release No. 77358 Robert W. Errett, seven days after the tender of shares for (March 14, 2016), 81 FR 14921 (March 18, 2016). Deputy Secretary. 4 See Securities Exchange Act Release No. 77720 redemption; (d) certain affiliated [FR Doc. 2016–21251 Filed 9–2–16; 8:45 am] (April 27, 2016), 81 FR 26609 (May 3, 2016). persons of a Fund to deposit securities BILLING CODE 8011–01–P 5 See Securities Exchange Act Release No. 78056 into, and receive securities from, the (June 13, 2016), 81 FR 39732 (June 17, 2016). Fund in connection with the purchase 6 See Letters from Mark Dehnert, Managing and redemption of Creation Units; and SECURITIES AND EXCHANGE Director, Goldman Sachs & Co., and Kyle Czepiel, (e) certain registered management COMMISSION Co-Chief Executive Officer, Goldman Sachs investment companies and unit Execution & Clearing, L.P., dated March 28, 2016, investment trusts outside of the same [Release No. 34–78724; File No. SR–OCC– to Secretary, Commission; Lisa J. Fall, President, 2016–004] group of investment companies as the BOX Options Exchange, dated April 6, 2016, to Brent J. Fields, Secretary, Commission; James G. Funds (‘‘Funds of Funds’’) to acquire Self-Regulatory Organizations; The Lundy, Associate General Counsel, ABN AMRO shares of the Funds. Options Clearing Corporation; Notice Clearing Chicago LLC, dated April 8, 2016, to Brent of Withdrawal of a Proposed Rule J. Fields, Secretary, Commission; Ellen Greene, APPLICANTS: Strategy Shares (the Change Related to the Adoption of an Managing Director, Securities Industry and ‘‘Trust’’), a Delaware statutory trust Options Exchange Risk Control Financial Markets Association, dated April 12, registered under the Act as an open-end 2016, to Robert W. Errett, Deputy Secretary, management investment company with Standards Policy Commission; Michael J. Simon, Secretary and General Counsel, International Securities Exchange, multiple series and Rational Advisors, August 30, 2016. Inc. (‘‘RAI’’), an Ohio corporation and mstockstill on DSK3G9T082PROD with NOTICES LLC, dated April 20, 2016, to Brent J. Fields, On March 4, 2016, The Options Secretary, Commission; Edward T. Tilly, Chief an investment adviser that is registered Clearing Corporation (‘‘OCC’’) filed with Executive Officer, Chicago Board Options as an investment adviser under the Exchange, Inc., dated April 20, 2016, to Brent J. Investment Advisers Act of 1940. 3 See Securities Exchange Act Release No. 78345 Fields, Secretary, Commission; OCC, dated June 13, (July 15, 2016), 81 FR 47447. 2016, to Brent J. Fields, Secretary, Commission; and FILING DATES: The application was filed 4 15 U.S.C. 78s(b)(2). Lisa J. Fall, President, BOX Options Exchange, on June 6, 2016. 5 Id. dated June 21, 2016, to Brent J. Fields, Secretary, 6 17 CFR 200.30–3(a)(31). Commission. 7 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:04 Sep 02, 2016 Jkt 238001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\06SEN1.SGM 06SEN1


Document Created: 2018-02-09 12:04:24
Document Modified: 2018-02-09 12:04:24
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 61269 
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