81_FR_75059 81 FR 74851 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 497-Equities

81 FR 74851 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 497-Equities

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 208 (October 27, 2016)

Page Range74851-74852
FR Document2016-25939

Federal Register, Volume 81 Issue 208 (Thursday, October 27, 2016)
[Federal Register Volume 81, Number 208 (Thursday, October 27, 2016)]
[Notices]
[Pages 74851-74852]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-25939]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79132; File No. SR-NYSEMKT-2016-94]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Amending Rule 497--
Equities

October 21, 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 October 13, 2016, NYSE MKT LLC (the ``Exchange'' or 
``NYSE MKT'') 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

    The Exchange proposes to amend Rule 497--Equities regarding the 
requirements for the listing of securities that are issued by the 
Exchange or any of its affiliates. 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 Exchange proposes to amend Rule 497--Equities (Additional 
Requirements for Listed Securities Issued by Intercontinental Exchange, 
Inc. or its Affiliates) regarding the requirements for the listing of 
securities that are issued by the Exchange or any of its affiliates. 
Rule 497--Equities sets forth certain requirements that securities 
issued by the Exchange's ultimate parent, Intercontinental Exchange, 
Inc. (``ICE''), or its affiliates, must meet before they can be listed 
on the Exchange, including certain pre-listing approvals and post-
listing monitoring requirements.
    Specifically, the Exchange is proposing to make the following 
changes to Rule 497--Equities: (i) Expand the definition of Affiliate 
Security under Rule 497--Equities (a)(2); (ii) require that the annual 
review required under Rule 497--Equities (c)(2) be forwarded to the 
Exchange's Regulatory Oversight Committee (``ROC''); and (iii) make 
non-substantive typographical changes.
    Rule 497--Equities (a)(2) currently defines ``Affiliate Security'' 
as ``any security issued by an ICE Affiliate.'' \4\ The Exchange 
proposes to expand the definition of Affiliate Security to include any 
Exchange-listed option on any security issued by an ICE Affiliate. As a 
consequence, under Rule 497--Equities (b), prior to listing any new 
class of options on a security issued by an ICE Affiliate, Exchange 
regulatory staff would be required to make a finding that the option 
class satisfies the Exchange's rules for listing, and the ROC would be 
required to approve such finding. Likewise, throughout the continued 
listing of such option class on the Exchange, it would be covered by 
the reporting requirements of Rule 497--Equities (c).
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    \4\ For purposes of Rule 497--Equities, an ``ICE Affiliate'' is 
``ICE and any entity that directly or indirectly, through one or 
more intermediaries, controls, is controlled by, or is under common 
control with ICE, where `control' means that one entity possesses, 
directly or indirectly, voting control of the other entity either 
through ownership of capital stock or other equity securities or 
through majority representation on the board of directors or other 
management body of such entity.'' Rule 497--Equities (a)(1).
---------------------------------------------------------------------------

    In the event that an ICE Affiliate lists an Affiliate Security, 
Rule 497--Equities (c)(2) requires that, throughout the continued 
listing of the Affiliate Security on the Exchange, an independent 
accounting firm will review the listing standards for the Affiliate 
Security and a copy of the report shall be forwarded promptly to the 
Securities and Exchange Commission (``Commission''). The Exchange 
proposes to expand Rule 497--Equities (c)(2) to require that such 
report also be forwarded to the ROC.
    The Exchange proposes to make the following additional, non-
substantive changes to Rule 497--Equities (c):
     It proposes to move ``the Exchange shall'' from the end of 
Rule 497--Equities (c) to the start of Rule 497--Equities (c)(1), as 
the text only applies to Rule 497--Equities (c)(1), and not sub-
paragraphs (2) or (3), and change ``shall'' to ``will.''
     It proposes to add ``and trading'' after ``Throughout the 
continued listing'' in Rule 497--Equities (c), as Rule 497--Equities 
(c)(1) references the listing of Affiliate Securities, as well as their 
trading.
     The Exchange proposes to delete an extraneous ``that'' 
from the final clause of Rule 497--Equities (c)(1)(b), so that it reads 
as follows:
    Exchange regulatory staff's monitoring of the trading of the 
Affiliate Security including summaries of all related surveillance 
alerts, complaints, regulatory referrals, adjusted trades, 
investigations, examinations, formal and informal disciplinary actions, 
exception reports and trading data used to ensure the Affiliate 
Security's compliance with the Exchange's listing and trading rules.
    The Exchange notes that the proposed amendments would be consistent 
with recent changes to the Bats BZX Exchange, Inc. (``BZX'') Rule 14.3 
regarding requirements for the listing of securities listed by BZX or 
any of its affiliates.\5\
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    \5\ See Securities Exchange Act Release No. 77639 (April 18, 
2016), 81 FR 23768 (April 22, 2016) (SR-BatsBZX-2016-08).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Exchange Act \6\ in general, and Section 
6(b)(5) \7\ in particular, in that it because it is designed to prevent 
fraudulent and manipulative acts and practices, to promote just and 
equitable principles of trade, to foster cooperation and coordination 
with persons engaged in regulating, clearing, settling, processing 
information with respect to, and facilitating transactions in 
securities, to

[[Page 74852]]

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.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
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    Specifically, the Exchange believes that the proposed rule change, 
by requiring heightened reporting by the Exchange to the Commission and 
the ROC with respect to oversight of the listing and trading on the 
Exchange of Affiliate Securities, will continue to help protect against 
concerns that the Exchange will not effectively enforce its rules with 
respect to the listing and trading of these securities. By adding 
Exchange-listed options on any security issued by an ICE Affiliate to 
the definition of ``Affiliate Securities,'' the proposed changes would 
expand the scope of Rule 497--Equities. The Exchange accordingly 
believes that the proposed amendments to Rule 497--Equities would 
continue to eliminate any perception of a potential conflict of 
interest if an ICE Affiliate seeks to list a security on the Exchange.
    Lastly, the Exchange believes that the proposed non-substantive 
grammatical changes would promote just and equitable principles of 
trade and remove impediments to a free and open market by providing 
greater clarity in the Exchange's rules.

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 Exchange Act. The proposed rule 
change is not intended to address competitive issues but rather provide 
market participants with additional specificity and transparency 
regarding the Exchange's controls that are in place to address the 
potential conflicts of interest that may arise in the listing of 
Affiliate Securities on the Exchange.

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 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) 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). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the text of 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.
---------------------------------------------------------------------------

    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the 
Act \10\ normally does not become operative for 30 days after the date 
of its filing. However, Rule 19b-4(f)(6)(iii) \11\ permits the 
Commission to designate a shorter time if such action is consistent 
with the protection of investors and the public interest. The Exchange 
has asked the Commission to waive the 30-day operative delay so that 
the proposal may become operative immediately upon filing. The 
Commission believes that waiver of the operative delay is consistent 
with the protection of investors and the public interest as it will 
allow the Exchange to implement the proposed changes to Rule 497--
Equities without delay. Therefore, the Commission hereby waives the 
operative delay and designates the proposal operative upon filing.\12\
---------------------------------------------------------------------------

    \10\ 17 CFR 240.19b-4(f)(6).
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
    \12\ 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).
---------------------------------------------------------------------------

    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 to 
determine whether the proposed rule change 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 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-NYSEMKT-2016-94 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-NYSEMKT-2016-94. 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 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-NYSEMKT-2016-94, and should 
be submitted on or before November 17, 2016.
    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).

Brent J. Fields,
Secretary.
[FR Doc. 2016-25939 Filed 10-26-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                                             Federal Register / Vol. 81, No. 208 / Thursday, October 27, 2016 / Notices                                                     74851

                                                  For the Commission, by the Division of                 of the most significant parts of such                    continued listing of the Affiliate
                                                Investment Management, under delegated                   statements.                                              Security on the Exchange, an
                                                authority.                                                                                                        independent accounting firm will
                                                Brent J. Fields,                                         A. Self-Regulatory Organization’s
                                                                                                                                                                  review the listing standards for the
                                                Secretary.
                                                                                                         Statement of the Purpose of, and the
                                                                                                                                                                  Affiliate Security and a copy of the
                                                                                                         Statutory Basis for, the Proposed Rule
                                                [FR Doc. 2016–25942 Filed 10–26–16; 8:45 am]                                                                      report shall be forwarded promptly to
                                                                                                         Change
                                                BILLING CODE 8011–01–P                                                                                            the Securities and Exchange
                                                                                                         1. Purpose                                               Commission (‘‘Commission’’). The
                                                                                                            The Exchange proposes to amend                        Exchange proposes to expand Rule
                                                SECURITIES AND EXCHANGE                                  Rule 497—Equities (Additional                            497—Equities (c)(2) to require that such
                                                COMMISSION                                               Requirements for Listed Securities                       report also be forwarded to the ROC.
                                                [Release No. 34–79132; File No. SR–                      Issued by Intercontinental Exchange,                        The Exchange proposes to make the
                                                NYSEMKT–2016–94]                                         Inc. or its Affiliates) regarding the                    following additional, non-substantive
                                                                                                         requirements for the listing of securities               changes to Rule 497—Equities (c):
                                                Self-Regulatory Organizations; NYSE                      that are issued by the Exchange or any                      • It proposes to move ‘‘the Exchange
                                                MKT LLC; Notice of Filing and                            of its affiliates. Rule 497—Equities sets                shall’’ from the end of Rule 497—
                                                Immediate Effectiveness of Proposed                      forth certain requirements that                          Equities (c) to the start of Rule 497—
                                                Rule Change Amending Rule 497—                           securities issued by the Exchange’s                      Equities (c)(1), as the text only applies
                                                Equities                                                 ultimate parent, Intercontinental                        to Rule 497—Equities (c)(1), and not
                                                                                                         Exchange, Inc. (‘‘ICE’’), or its affiliates,             sub-paragraphs (2) or (3), and change
                                                October 21, 2016.                                                                                                 ‘‘shall’’ to ‘‘will.’’
                                                   Pursuant to Section 19(b)(1) 1 of the                 must meet before they can be listed on
                                                                                                         the Exchange, including certain pre-                        • It proposes to add ‘‘and trading’’
                                                Securities Exchange Act of 1934 (the                                                                              after ‘‘Throughout the continued
                                                ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                   listing approvals and post-listing
                                                                                                         monitoring requirements.                                 listing’’ in Rule 497—Equities (c), as
                                                notice is hereby given that on October                                                                            Rule 497—Equities (c)(1) references the
                                                13, 2016, NYSE MKT LLC (the                                 Specifically, the Exchange is
                                                                                                         proposing to make the following                          listing of Affiliate Securities, as well as
                                                ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with                                                                          their trading.
                                                the Securities and Exchange                              changes to Rule 497—Equities: (i)
                                                                                                         Expand the definition of Affiliate                          • The Exchange proposes to delete an
                                                Commission (the ‘‘Commission’’) the                                                                               extraneous ‘‘that’’ from the final clause
                                                proposed rule change as described in                     Security under Rule 497—Equities
                                                                                                         (a)(2); (ii) require that the annual review              of Rule 497—Equities (c)(1)(b), so that it
                                                Items I and II below, which Items have                                                                            reads as follows:
                                                been prepared by the self-regulatory                     required under Rule 497—Equities (c)(2)
                                                                                                         be forwarded to the Exchange’s                              Exchange regulatory staff’s monitoring
                                                organization. The Commission is                                                                                   of the trading of the Affiliate Security
                                                publishing this notice to solicit                        Regulatory Oversight Committee
                                                                                                         (‘‘ROC’’); and (iii) make non-substantive                including summaries of all related
                                                comments on the proposed rule change                                                                              surveillance alerts, complaints,
                                                from interested persons.                                 typographical changes.
                                                                                                            Rule 497—Equities (a)(2) currently                    regulatory referrals, adjusted trades,
                                                I. Self-Regulatory Organization’s                        defines ‘‘Affiliate Security’’ as ‘‘any                  investigations, examinations, formal and
                                                Statement of the Terms of Substance of                   security issued by an ICE Affiliate.’’ 4                 informal disciplinary actions, exception
                                                the Proposed Rule Change                                 The Exchange proposes to expand the                      reports and trading data used to ensure
                                                                                                         definition of Affiliate Security to                      the Affiliate Security’s compliance with
                                                  The Exchange proposes to amend                                                                                  the Exchange’s listing and trading rules.
                                                Rule 497—Equities regarding the                          include any Exchange-listed option on
                                                                                                         any security issued by an ICE Affiliate.                    The Exchange notes that the proposed
                                                requirements for the listing of securities                                                                        amendments would be consistent with
                                                that are issued by the Exchange or any                   As a consequence, under Rule 497—
                                                                                                         Equities (b), prior to listing any new                   recent changes to the Bats BZX
                                                of its affiliates. The proposed rule                                                                              Exchange, Inc. (‘‘BZX’’) Rule 14.3
                                                change is available on the Exchange’s                    class of options on a security issued by
                                                                                                         an ICE Affiliate, Exchange regulatory                    regarding requirements for the listing of
                                                Web site at www.nyse.com, at the                                                                                  securities listed by BZX or any of its
                                                principal office of the Exchange, and at                 staff would be required to make a
                                                                                                         finding that the option class satisfies the              affiliates.5
                                                the Commission’s Public Reference
                                                Room.                                                    Exchange’s rules for listing, and the                    2. Statutory Basis
                                                                                                         ROC would be required to approve such
                                                II. Self-Regulatory Organization’s                       finding. Likewise, throughout the                           The Exchange believes that the
                                                Statement of the Purpose of, and                         continued listing of such option class on                proposed rule change is consistent with
                                                Statutory Basis for, the Proposed Rule                   the Exchange, it would be covered by                     Section 6(b) of the Exchange Act 6 in
                                                Change                                                   the reporting requirements of Rule                       general, and Section 6(b)(5) 7 in
                                                                                                         497—Equities (c).                                        particular, in that it because it is
                                                  In its filing with the Commission, the
                                                                                                            In the event that an ICE Affiliate lists              designed to prevent fraudulent and
                                                self-regulatory organization included
                                                                                                         an Affiliate Security, Rule 497—Equities                 manipulative acts and practices, to
                                                statements concerning the purpose of,
                                                                                                         (c)(2) requires that, throughout the                     promote just and equitable principles of
                                                and basis for, the proposed rule change
                                                                                                                                                                  trade, to foster cooperation and
                                                and discussed any comments it received
                                                                                                           4 For purposes of Rule 497—Equities, an ‘‘ICE          coordination with persons engaged in
                                                on the proposed rule change. The text
                                                                                                         Affiliate’’ is ‘‘ICE and any entity that directly or     regulating, clearing, settling, processing
sradovich on DSK3GMQ082PROD with NOTICES




                                                of those statements may be examined at                   indirectly, through one or more intermediaries,          information with respect to, and
                                                the places specified in Item IV below.                   controls, is controlled by, or is under common           facilitating transactions in securities, to
                                                The Exchange has prepared summaries,                     control with ICE, where ‘control’ means that one
                                                set forth in sections A, B, and C below,                 entity possesses, directly or indirectly, voting
                                                                                                                                                                    5 See Securities Exchange Act Release No. 77639
                                                                                                         control of the other entity either through ownership
                                                                                                         of capital stock or other equity securities or through   (April 18, 2016), 81 FR 23768 (April 22, 2016) (SR–
                                                  1 15 U.S.C. 78s(b)(1).                                                                                          BatsBZX–2016–08).
                                                                                                         majority representation on the board of directors or
                                                  2 15 U.S.C. 78a.                                                                                                  6 15 U.S.C. 78f(b).
                                                                                                         other management body of such entity.’’ Rule 497—
                                                  3 17 CFR 240.19b–4.                                    Equities (a)(1).                                           7 15 U.S.C. 78f(b)(5).




                                           VerDate Sep<11>2014    17:43 Oct 26, 2016   Jkt 241001   PO 00000   Frm 00090   Fmt 4703   Sfmt 4703   E:\FR\FM\27OCN1.SGM     27OCN1


                                                74852                       Federal Register / Vol. 81, No. 208 / Thursday, October 27, 2016 / Notices

                                                remove impediments to, and perfect the                  which it was filed, or such shorter time                  • Send an email to rule-comments@
                                                mechanism of a free and open market                     as the Commission may designate, it has                 sec.gov. Please include File Number SR–
                                                and a national market system and, in                    become effective pursuant to Section                    NYSEMKT–2016–94 on the subject line.
                                                general, to protect investors and the                   19(b)(3)(A) of the Act 8 and Rule 19b–
                                                                                                                                                                Paper Comments
                                                public interest.                                        4(f)(6) thereunder.9
                                                   Specifically, the Exchange believes                     A proposed rule change filed                            • Send paper comments in triplicate
                                                that the proposed rule change, by                       pursuant to Rule 19b–4(f)(6) under the                  to Secretary, Securities and Exchange
                                                requiring heightened reporting by the                   Act 10 normally does not become                         Commission, 100 F Street NE.,
                                                Exchange to the Commission and the                      operative for 30 days after the date of its             Washington, DC 20549–1090.
                                                ROC with respect to oversight of the                    filing. However, Rule 19b–4(f)(6)(iii) 11               All submissions should refer to File
                                                listing and trading on the Exchange of                  permits the Commission to designate a                   Number SR–NYSEMKT–2016–94. This
                                                Affiliate Securities, will continue to                  shorter time if such action is consistent               file number should be included on the
                                                help protect against concerns that the                  with the protection of investors and the                subject line if email is used. To help the
                                                Exchange will not effectively enforce its               public interest. The Exchange has asked                 Commission process and review your
                                                rules with respect to the listing and                   the Commission to waive the 30-day                      comments more efficiently, please use
                                                trading of these securities. By adding                  operative delay so that the proposal may                only one method. The Commission will
                                                Exchange-listed options on any security                 become operative immediately upon                       post all comments on the Commission’s
                                                issued by an ICE Affiliate to the                       filing. The Commission believes that                    Internet Web site (http://www.sec.gov/
                                                definition of ‘‘Affiliate Securities,’’ the             waiver of the operative delay is                        rules/sro.shtml). Copies of the
                                                proposed changes would expand the                       consistent with the protection of                       submission, all subsequent
                                                scope of Rule 497—Equities. The                         investors and the public interest as it                 amendments, all written statements
                                                Exchange accordingly believes that the                  will allow the Exchange to implement                    with respect to the proposed rule
                                                proposed amendments to Rule 497—                        the proposed changes to Rule 497—                       change that are filed with the
                                                Equities would continue to eliminate                    Equities without delay. Therefore, the                  Commission, and all written
                                                any perception of a potential conflict of               Commission hereby waives the                            communications relating to the
                                                interest if an ICE Affiliate seeks to list              operative delay and designates the                      proposed rule change between the
                                                a security on the Exchange.                             proposal operative upon filing.12                       Commission and any person, other than
                                                   Lastly, the Exchange believes that the                  At any time within 60 days of the                    those that may be withheld from the
                                                proposed non-substantive grammatical                    filing of the proposed rule change, the                 public in accordance with the
                                                changes would promote just and                          Commission summarily may                                provisions of 5 U.S.C. 552, will be
                                                equitable principles of trade and remove                temporarily suspend such rule change if                 available for Web site viewing and
                                                impediments to a free and open market                   it appears to the Commission that such                  printing in the Commission’s Public
                                                by providing greater clarity in the                     action is necessary or appropriate in the               Reference Room, 100 F Street NE.,
                                                Exchange’s rules.                                       public interest, for the protection of                  Washington, DC 20549, on official
                                                                                                        investors, or otherwise in furtherance of               business days between the hours of
                                                B. Self-Regulatory Organization’s                       the purposes of the Act. If the                         10:00 a.m. and 3:00 p.m. Copies of the
                                                Statement on Burden on Competition                      Commission takes such action, the                       filing also will be available for
                                                   The Exchange does not believe that                   Commission shall institute proceedings                  inspection and copying at the principal
                                                the proposed rule change will impose                    to determine whether the proposed rule                  office of the Exchange. All comments
                                                any burden on competition that is not                   change should be approved or                            received will be posted without change;
                                                necessary or appropriate in furtherance                 disapproved.                                            the Commission does not edit personal
                                                of the purposes of the Exchange Act.                    IV. Solicitation of Comments                            identifying information from
                                                The proposed rule change is not                                                                                 submissions. You should submit only
                                                intended to address competitive issues                    Interested persons are invited to
                                                                                                                                                                information that you wish to make
                                                but rather provide market participants                  submit written data, views, and
                                                                                                                                                                available publicly. All submissions
                                                with additional specificity and                         arguments concerning the foregoing,
                                                                                                                                                                should refer to File Number SR–
                                                transparency regarding the Exchange’s                   including whether the proposed rule
                                                                                                        change is consistent with the Act.                      NYSEMKT–2016–94, and should be
                                                controls that are in place to address the                                                                       submitted on or before November 17,
                                                potential conflicts of interest that may                Comments may be submitted by any of
                                                                                                        the following methods:                                  2016.
                                                arise in the listing of Affiliate Securities                                                                       For the Commission, by the Division
                                                on the Exchange.                                        Electronic Comments                                     of Trading and Markets, pursuant to
                                                C. Self-Regulatory Organization’s                         • Use the Commission’s Internet                       delegated authority.13
                                                Statement on Comments on the                            comment form (http://www.sec.gov/                       Brent J. Fields,
                                                Proposed Rule Change Received From                      rules/sro.shtml); or                                    Secretary.
                                                Members, Participants, or Others                                                                                [FR Doc. 2016–25939 Filed 10–26–16; 8:45 am]
                                                                                                          8 15  U.S.C. 78s(b)(3)(A).
                                                  No written comments were solicited                      9 17  CFR 240.19b–4(f)(6). As required under Rule
                                                                                                                                                                BILLING CODE 8011–01–P
                                                or received with respect to the proposed                19b–4(f)(6)(iii), the Exchange provided the
                                                rule change.                                            Commission with written notice of its intent to file
                                                                                                        the proposed rule change, along with a brief            SMALL BUSINESS ADMINISTRATION
                                                III. Date of Effectiveness of the                       description and the text of the proposed rule
                                                Proposed Rule Change and Timing for                     change, at least five business days prior to the date   [Disaster Declaration # 14911 and # 14912]
sradovich on DSK3GMQ082PROD with NOTICES




                                                Commission Action                                       of filing of the proposed rule change, or such
                                                                                                        shorter time as designated by the Commission.
                                                                                                                                                                North Carolina Disaster Number NC–
                                                   Because the proposed rule change                        10 17 CFR 240.19b–4(f)(6).
                                                                                                                                                                00081
                                                does not (i) significantly affect the                      11 17 CFR 240.19b–4(f)(6)(iii).
                                                                                                           12 For purposes only of waiving the 30-day
                                                protection of investors or the public                                                                           AGENCY:U.S. Small Business
                                                                                                        operative delay, the Commission has also
                                                interest; (ii) impose any significant                   considered the proposed rule’s impact on                Administration.
                                                burden on competition; and (iii) become                 efficiency, competition, and capital formation. See
                                                operative for 30 days from the date on                  15 U.S.C. 78c(f).                                         13 17   CFR 200.30–3(a)(12).



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Document Created: 2016-10-27 01:52:06
Document Modified: 2016-10-27 01:52:06
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 74851 

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