81 FR 61722 - Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Prior Rule Change, SR-PHLX-2016-38
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 173 (September 7, 2016)
Federal Register Volume 81, Issue 173 (September 7, 2016)
| Page Range | 61722-61723 | |
| FR Document | 2016-21379 |
[Federal Register Volume 81, Number 173 (Wednesday, September 7, 2016)] [Notices] [Pages 61722-61723] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-21379] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78740; File No. SR-Phlx-2016-88] Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Prior Rule Change, SR-PHLX-2016-38 August 31, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that, on August 23, 2016, NASDAQ PHLX LLC (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. 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\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend prior rule change, SR-Phlx-2016- 38,\3\ which inadvertently contained the incorrect Exhibit 3. --------------------------------------------------------------------------- \3\ See Securities and Exchange Act Release No. 77475 (Match 30, 2016), 81 FR 19664 (April 5, 2016) (SR-Phlx-2016-36) [sic]. --------------------------------------------------------------------------- The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqomxphlx.cchwallstreet.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 Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange 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 Exchange proposes to amend the previously submitted filing SR- Phlx-2016-38, which contained an incorrect version of the Exchange's membership application as Exhibit 3. This rule filing seeks to provide the current membership application in Exhibit 3(a) which became operative on July 1, 2016. Following the filing of SR-PHLX-2016-38 the Exchange continued to use the ``legacy'' membership application though June 30, 2016 which is contained in Exhibit 3, however, the Exchange did not receive any membership applications. The membership application which is contained in Exhibit 3(a) and was filed on May 2 [sic], 2016 as part of SR-PHLX- 2016-38 is a new consolidated membership form which is applicable to The Nasdaq Stock Market, Nasdaq BX, and Nasdaq PHLX which went into effect following the effectiveness of Rule 921(b) and does not require the Executive Representative of a PHLX member firm to provide evidence of their designation as the Executive Representative. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\4\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\5\ in particular, in that it is designed to protect investors and the public interest by streamlining various aspects of the membership process. The filing of the updated membership form will promote just and equitable principles of trade, and foster cooperation and coordination with persons engaged in facilitating transactions in securities by eliminating confusion among forms. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. 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, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \6\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(a)(iii) [sic]. \7\ 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 summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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 Send an email to [email protected]. Please include File Number SR-Phlx-2016-88 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-Phlx-2016-88. 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/ [[Page 61723]] 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 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- Phlx-2016-88 and should be submitted on or before September 28, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2016-21379 Filed 9-6-16; 8:45 am] BILLING CODE 8011-01-P
![61722 Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices
By the Commission. A. Self-Regulatory Organization’s III. Date of Effectiveness of the
Brent J. Fields, Statement of the Purpose of, and Proposed Rule Change and Timing for
Secretary. Statutory Basis for, the Proposed Rule Commission Action
[FR Doc. 2016–21584 Filed 9–2–16; 4:15 pm] Change Because the foregoing proposed rule
BILLING CODE 8011–01–P 1. Purpose change does not: (i) Significantly affect
the protection of investors or the public
The Exchange proposes to amend the interest; (ii) impose any significant
SECURITIES AND EXCHANGE previously submitted filing SR–Phlx– burden on competition; and (iii) become
COMMISSION 2016–38, which contained an incorrect operative for 30 days from the date on
[Release No. 34–78740; File No. SR–Phlx– version of the Exchange’s membership which it was filed, or such shorter time
2016–88] application as Exhibit 3. This rule filing as the Commission may designate, it has
seeks to provide the current become effective pursuant to Section
Self-Regulatory Organizations; membership application in Exhibit 3(a) 19(b)(3)(A)(iii) of the Act 6 and
NASDAQ PHLX LLC; Notice of Filing which became operative on July 1, 2016. subparagraph (f)(6) of Rule 19b–4
and Immediate Effectiveness of Following the filing of SR–PHLX– thereunder.7
Proposed Rule Change To Amend 2016–38 the Exchange continued to use At any time within 60 days of the
Prior Rule Change, SR–PHLX–2016–38 the ‘‘legacy’’ membership application filing of the proposed rule change, the
August 31, 2016. though June 30, 2016 which is Commission summarily may
contained in Exhibit 3, however, the temporarily suspend such rule change if
Pursuant to Section 19(b)(1) of the
Exchange did not receive any it appears to the Commission that such
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 membership applications. The action is: (i) Necessary or appropriate in
notice is hereby given that, on August membership application which is the public interest; (ii) for the protection
23, 2016, NASDAQ PHLX LLC (‘‘Phlx’’ contained in Exhibit 3(a) and was filed of investors; or (iii) otherwise in
or ‘‘Exchange’’) filed with the Securities on May 2 [sic], 2016 as part of SR– furtherance of the purposes of the Act.
and Exchange Commission PHLX–2016–38 is a new consolidated If the Commission takes such action, the
(‘‘Commission’’) the proposed rule membership form which is applicable to Commission shall institute proceedings
change as described in Items I, II, and The Nasdaq Stock Market, Nasdaq BX, to determine whether the proposed rule
III, below, which Items have been and Nasdaq PHLX which went into should be approved or disapproved.
prepared by the Exchange. The effect following the effectiveness of Rule IV. Solicitation of Comments
Commission is publishing this notice to 921(b) and does not require the
Interested persons are invited to
solicit comments on the proposed rule Executive Representative of a PHLX
submit written data, views and
change from interested persons. member firm to provide evidence of
arguments concerning the foregoing,
their designation as the Executive
I. Self-Regulatory Organization’s including whether the proposed rule
Representative.
Statement of the Terms of Substance of change is consistent with the Act.
the Proposed Rule Change 2. Statutory Basis Comments may be submitted by any of
The Exchange proposes to amend the following methods:
The Exchange believes that its
prior rule change, SR–Phlx–2016–38,3 proposal is consistent with Section 6(b) Electronic Comments
which inadvertently contained the
incorrect Exhibit 3.
of the Act,4 in general, and furthers the • Use the Commission’s Internet
objectives of Section 6(b)(5) of the Act,5 comment form (http://www.sec.gov/
The text of the proposed rule change
in particular, in that it is designed to rules/sro.shtml); or
is available on the Exchange’s Web site
at http://nasdaqomxphlx.
protect investors and the public interest • Send an email to rule-comments@
by streamlining various aspects of the sec.gov. Please include File Number SR–
cchwallstreet.com/, at the principal
office of the Exchange, and at the membership process. The filing of the Phlx–2016–88 on the subject line.
Commission’s Public Reference Room. updated membership form will promote
Paper Comments
just and equitable principles of trade,
II. Self-Regulatory Organization’s and foster cooperation and coordination • Send paper comments in triplicate
Statement of the Purpose of, and with persons engaged in facilitating to Secretary, Securities and Exchange
Statutory Basis for, the Proposed Rule transactions in securities by eliminating Commission, 100 F Street NE.,
Change confusion among forms. Washington, DC 20549–1090.
In its filing with the Commission, the All submissions should refer to File
B. Self-Regulatory Organization’s
Exchange included statements Number SR–Phlx–2016–88. This file
Statement on Burden on Competition
concerning the purpose of and basis for number should be included on the
the proposed rule change and discussed The proposed rule change does not subject line if email is used. To help the
any comments it received on the impose any burden on competition that Commission process and review your
proposed rule change. The text of these is not necessary or appropriate in comments more efficiently, please use
statements may be examined at the furtherance of the purposes of the Act. only one method. The Commission will
places specified in Item IV below. The post all comments on the Commission’s
Exchange has prepared summaries, set C. Self-Regulatory Organization’s Internet Web site (http://www.sec.gov/
forth in sections A, B, and C below, of Statement on Comments on the
mstockstill on DSK3G9T082PROD with NOTICES
the most significant aspects of such Proposed Rule Change Received From 6 15 U.S.C. 78s(b)(3)(a)(iii) [sic].
statements. Members, Participants, or Others 7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
1 15
No written comments were either the Commission written notice of its intent to file
U.S.C. 78s(b)(1). the proposed rule change at least five business days
2 17 CFR 240.19b–4.
solicited or received.
prior to the date of filing of the proposed rule
3 See Securities and Exchange Act Release No. change, or such shorter time as designated by the
4 15 U.S.C. 78f(b).
77475 (Match 30, 2016), 81 FR 19664 (April 5, Commission. The Exchange has satisfied this
2016) (SR–Phlx–2016–36) [sic]. 5 15 U.S.C. 78f(b)(5). requirement.
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![Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices 61723
rules/sro.shtml). Copies of the (‘‘Creation Units’’); (b) secondary market Road, Suite 100, Scottsdale, Arizona
submission, all subsequent transactions in Fund shares to occur at 85258.
amendments, all written statements negotiated market prices rather than at FOR FURTHER INFORMATION CONTACT:
with respect to the proposed rule net asset value (‘‘NAV’’); (c) certain Steven I. Amchan, Senior Counsel, at
change that are filed with the Funds to pay redemption proceeds, (202) 551–6826, or David J. Marcinkus,
Commission, and all written under certain circumstances, more than Branch Chief, at (202) 551–6821
communications relating to the seven days after the tender of shares for (Division of Investment Management,
proposed rule change between the redemption; (d) certain affiliated Chief Counsel’s Office).
Commission and any person, other than persons of a Fund to deposit securities SUPPLEMENTARY INFORMATION: The
those that may be withheld from the into, and receive securities from, the following is a summary of the
public in accordance with the Fund in connection with the purchase application. The complete application
provisions of 5 U.S.C. 552, will be and redemption of Creation Units; (e) may be obtained via the Commission’s
available for Web site viewing and certain registered management Web site by searching for the file
printing in the Commission’s Public investment companies and unit number, or for an applicant using the
Reference Room, 100 F Street NE., investment trusts outside of the same Company name box, at http://
Washington, DC 20549, on official group of investment companies as the www.sec.gov/search/search.htm or by
business days between the hours of Funds (‘‘Funds of Funds’’) to acquire calling (202) 551–8090.
10:00 a.m. and 3:00 p.m. Copies of the shares of the Funds; and (f) certain
filing also will be available for Funds (‘‘Feeder Funds’’) to create and Summary of the Application
inspection and copying at the principal redeem Creation Units in-kind in a 1. Applicants request an order that
office of the Exchange. All comments master-feeder structure. would allow Funds to operate as index
received will be posted without change; exchange traded funds (‘‘ETFs’’).1 Fund
the Commission does not edit personal APPLICANTS: Voya ETF Trust (the shares will be purchased and redeemed
identifying information from ‘‘Trust’’), a Delaware statutory trust that at their NAV in Creation Units only. All
submissions. You should submit only will be registered under the Act as an orders to purchase Creation Units and
information that you wish to make open-end management investment all redemption requests will be placed
available publicly. All submissions company; Voya Investments, LLC, an by or through an ‘‘Authorized
should refer to File Number SR–Phlx– Arizona limited liability company, and Participant’’, which will have signed a
2016–88 and should be submitted on or Directed Services LLC, a Delaware a participant agreement with the
before September 28, 2016. limited liability company (together the Distributor. Shares will be listed and
‘‘Initial Advisers’’ and individually, traded individually on a national
For the Commission, by the Division of
Trading and Markets, pursuant to delegated each an ‘‘Initial Adviser’’), each securities exchange, where share prices
authority.8 registered as an investment adviser will be based on the current bid/offer
Robert W. Errett, under the Investment Advisers Act of market. Certain Funds may operate as
1940; and Voya Investments Distributor, Feeder Funds in a master-feeder
Deputy Secretary.
LLC (‘‘Distributor’’), an Arizona limited structure. Any order granting the
[FR Doc. 2016–21379 Filed 9–6–16; 8:45 am]
liability company and broker-dealer requested relief would be subject to the
BILLING CODE 8011–01–P
registered under the Securities terms and conditions stated in the
Exchange Act of 1934 (‘‘Exchange Act’’). application.
DATES: Filing Dates: The application was 2. Each Fund will hold investment
SECURITIES AND EXCHANGE
COMMISSION filed on October 27, 2015, and amended positions selected to correspond
on April 7, 2016. generally to the performance of an
[Investment Company Act Release No. HEARING OR NOTIFICATION OF HEARING: An Underlying Index. In the case of Self-
32248; 812–14572] Indexing Funds, an affiliated person, as
order granting the requested relief will
Voya ETF Trust, et al.; Notice of be issued unless the Commission orders defined in section 2(a)(3) of the Act
a hearing. Interested persons may (‘‘Affiliated Person’’), or an affiliated
Application person of an Affiliated Person (‘‘Second-
request a hearing by writing to the
August 30, 2016. Commission’s Secretary and serving Tier Affiliate’’), of the Trust or a Fund,
AGENCY: Securities and Exchange applicants with a copy of the request, of the Adviser, of any sub-adviser to or
Commission (‘‘Commission’’). personally or by mail. Hearing requests promoter of a Fund, or of the Distributor
should be received by the Commission will compile, create, sponsor or
ACTION: Notice of an application for an
by 5:30 p.m. on September 26, 2016, maintain the Underlying Index.2
order under section 6(c) of the
Investment Company Act of 1940 (the and should be accompanied by proof of 1 Applicants request that the order apply to the
‘‘Act’’) for an exemption from sections service on applicants, in the form of an initial series of the Trust and any additional series
2(a)(32), 5(a)(1), 22(d), and 22(e) of the affidavit, or for lawyers, a certificate of of the Trust, and any other open-end management
Act and rule 22c–1 under the Act, under service. Pursuant to rule 0–5 under the investment company or series thereof, that may be
Act, hearing requests should state the created in the future (each, included in the term
sections 6(c) and 17(b) of the Act for an ‘‘Fund’’), each of which will operate as an ETF and
exemption from sections 17(a)(1) and nature of the writer’s interest, any facts will track a specified index comprised of domestic
17(a)(2) of the Act, and under section bearing upon the desirability of a or foreign equity and/or fixed income securities
12(d)(1)(J) for an exemption from hearing on the matter, the reason for the (each, an ‘‘Underlying Index’’). Any Fund will (a)
request, and the issues contested. be advised by an Initial Adviser or an entity
sections 12(d)(1)(A) and 12(d)(1)(B) of
mstockstill on DSK3G9T082PROD with NOTICES
controlling, controlled by, or under common
the Act. The requested order would Persons who wish to be notified of a control with an Initial Adviser (each, an ‘‘Adviser’’)
permit (a) index-based series of certain hearing may request notification by and (b) comply with the terms and conditions of the
open-end management investment writing to the Commission’s Secretary. application.
2 Each Self-Indexing Fund will post on its Web
companies (‘‘Funds’’) to issue shares ADDRESSES: Secretary, Securities and
redeemable in large aggregations only Exchange Commission, 100 F Street NE., site the identities and quantities of the investment
positions that will form the basis for the Fund’s
Washington, DC 20549–1090; calculation of its NAV at the end of the day.
8 17 CFR 200.30–3(a)(12). Applicants: 7337 East Doubletree Ranch Continued
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Document Created: 2016-09-07 11:50:10
Document Modified: 2016-09-07 11:50:10
| 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 61722 |
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