81 FR 75865 - Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; National Securities Clearing Corporation; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Changes Relating to Clearing Agency Investment Policy
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 211 (November 1, 2016)
Federal Register Volume 81, Issue 211 (November 1, 2016)
| Page Range | 75865-75865 | |
| FR Document | 2016-26302 |
[Federal Register Volume 81, Number 211 (Tuesday, November 1, 2016)] [Notices] [Page 75865] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-26302] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79165; File Nos. SR-DTC-2016-007; SR-FICC-2016-005; SR- NSCC-2016-003] Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; National Securities Clearing Corporation; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Changes Relating to Clearing Agency Investment Policy October 26, 2016. On August 25, 2016, The Depository Trust Company (``DTC''), Fixed Income Clearing Corporation (``FICC''), and National Securities Clearing Corporation (``NSCC'', and together with DTC and FICC, the ``Clearing Agencies'') filed with the Securities and Exchange Commission (``Commission'') proposed rule changes SR-DTC-2016-007, SR- FICC-2016-005, and SR-NSCC-2016-003 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ to adopt the Clearing Agency Investment Policy, which governs the investment of funds of the Clearing Agencies. The proposed rule changes were published for comment in the Federal Register on September 13, 2016.\3\ To date, the Commission has not received any comments on the proposed rule changes. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 78778 (September 7, 2016), 81 FR 62963 (September 13, 2016) (SR-DTC-2016-007; SR-FICC- 2016-005; SR-NSCC-2016-003). --------------------------------------------------------------------------- Section 19(b)(2) of the Act \4\ provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for these proposed rule changes is October 28, 2016. The Commission is extending this 45-day time period. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78s(b)(2). --------------------------------------------------------------------------- In order to provide the Commission with sufficient time to consider the proposed rule changes, the Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule changes. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates December 12, 2016 as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule changes (File Nos. SR-DTC-2016-007; SR-FICC-2016-005; SR-NSCC-2016- 003). --------------------------------------------------------------------------- \5\ Id. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\6\ --------------------------------------------------------------------------- \6\ 17 CFR 200.30-3(a)(31). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-26302 Filed 10-31-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 211 / Tuesday, November 1, 2016 / Notices 75865
available publicly. All submissions the Commission shall either approve the amended (‘‘Exchange Act’’), and Rules
should refer to File Number SR– proposed rule change, disapprove the 101 and 102 of Regulation M, in
NASDAQ–2016–141 and should be proposed rule change, or institute connection with secondary market
submitted on or before November 22, proceedings to determine whether the transactions in Shares and the creation
2016 proposed rule change should be or redemption of aggregations of Shares
For the Commission, by the Division of disapproved. The 45th day after of 50,000 shares (‘‘Creation Units’’).
Trading and Markets, pursuant to delegated publication of the notice for these The Trust is registered with the
authority.12 proposed rule changes is October 28, Securities and Exchange Commission
Brent J. Fields, 2016. The Commission is extending this (‘‘Commission’’) under the Investment
Secretary. 45-day time period. Company Act of 1940, as amended
[FR Doc. 2016–26301 Filed 10–31–16; 8:45 am] In order to provide the Commission (‘‘1940 Act’’), as an open-end
BILLING CODE 8011–01–P
with sufficient time to consider the management investment company. The
proposed rule changes, the Commission Fund seeks to track the performance of
finds that it is appropriate to designate an underlying index, the Premise
SECURITIES AND EXCHANGE a longer period within which to take Capital Frontier Advantage Diversified
COMMISSION action on the proposed rule changes. Tactical Index (the ‘‘Underlying
Accordingly, the Commission, pursuant Index’’). The Underlying Index seeks to
[Release No. 34–79165; File Nos. SR–DTC–
to Section 19(b)(2) of the Act,5 provide exposure to major U.S. and non-
2016–007; SR–FICC–2016–005; SR–NSCC–
2016–003] designates December 12, 2016 as the U.S. equity and fixed income asset
date by which the Commission shall classes.
Self-Regulatory Organizations; The either approve, disapprove, or institute The Fund will seek to track the
Depository Trust Company; Fixed proceedings to determine whether to performance of its Underlying Index by
Income Clearing Corporation; National disapprove the proposed rule changes normally investing at least 80% of its
Securities Clearing Corporation; (File Nos. SR–DTC–2016–007; SR– total assets in the ETFs that comprise
Notice of Designation of a Longer FICC–2016–005; SR–NSCC–2016–003). the Underlying Index.1 Except for the
Period for Commission Action on For the Commission, by the Division of fact that the Fund will operate as an
Proposed Rule Changes Relating to Trading and Markets, pursuant to delegated ETF of ETFs, the Fund will operate in
Clearing Agency Investment Policy authority.6 a manner identical to the underlying
Brent J. Fields, ETFs.
October 26, 2016.
Secretary. The Requestors represent, among
On August 25, 2016, The Depository
[FR Doc. 2016–26302 Filed 10–31–16; 8:45 am] other things, the following:
Trust Company (‘‘DTC’’), Fixed Income
Clearing Corporation (‘‘FICC’’), and BILLING CODE 8011–01–P • Shares of the Fund will be issued
National Securities Clearing Corporation by the Trust, an open-end management
(‘‘NSCC’’, and together with DTC and investment company that is registered
FICC, the ‘‘Clearing Agencies’’) filed SECURITIES AND EXCHANGE with the Commission;
with the Securities and Exchange COMMISSION • Creation Units will be continuously
Commission (‘‘Commission’’) proposed redeemable at the net asset value
[Release No. 34–79159; File No. TP 16–14]
rule changes SR–DTC–2016–007, SR– (‘‘NAV’’) next determined after receipt
FICC–2016–005, and SR–NSCC–2016– Order Granting Limited Exemptions of a request for redemption by the Fund,
003 pursuant to Section 19(b)(1) of the From Exchange Act Rule 10b–17 and and the secondary market price of the
Securities Exchange Act of 1934 Rules 101 and 102 of Regulation M to Shares should not vary substantially
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 Premise Capital Frontier Advantage from the NAV of such Shares;
to adopt the Clearing Agency Diversified Tactical ETF Pursuant to • Shares of the Fund will be listed
Investment Policy, which governs the Exchange Act Rule 10b–17(b)(2) and and traded on BATS Exchange, Inc., or
investment of funds of the Clearing Rules 101(d) and 102(e) of Regulation another exchange in accordance with
Agencies. The proposed rule changes M exchange listing standards that are, or
were published for comment in the will become, effective pursuant to
Federal Register on September 13, October 26, 2016. Section 19(b) of the Exchange Act (the
2016.3 To date, the Commission has not By letter dated October 26, 2016 (the ‘‘Listing Exchange’’); 2
received any comments on the proposed ‘‘Letter’’), as supplemented by • All ETFs in which the Fund is
rule changes. conversations with the staff of the invested will meet all conditions set
Section 19(b)(2) of the Act 4 provides Division of Trading and Markets, forth in one or more class relief letters,
that, within 45 days of the publication counsel for ETF Series Solutions (the will have received individual relief from
of notice of the filing of a proposed rule ‘‘Trust’’), on behalf of the Trust, Premise the Commission, will be able to rely
change, or within such longer period up Capital Frontier Advantage Diversified upon individual relief even though they
to 90 days as the Commission may Tactical ETF (the ‘‘Fund’’), any national are not named parties, or will be able to
designate if it finds such longer period securities exchange on or through which
to be appropriate and publishes its shares of the Fund (‘‘Shares’’) are listed 1 The remaining 20% of the Fund’s total assets
reasons for so finding, or as to which the and may subsequently trade, Quasar may be invested in securities (including other
self-regulatory organization consents, underlying funds) not included in the Underlying
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Distributors, LLC (the ‘‘Distributor’’),
Index and in cash, money market instruments, or
and persons engaging in transactions in funds that invest exclusively in money market
12 17 CFR 200.30–3(a)(12). Shares (collectively, the ‘‘Requestors’’), instruments, subject to applicable limitations under
1 15 U.S.C. 78s(b)(1). requested exemptions, or interpretive or the 1940 Act.
2 17 CFR 240.19b–4. 2 Further, Requestors represent in the Letter that
3 See Securities Exchange Act Release No. 78778
no-action relief, from Rule 10b-17 of the
should the Shares also trade on a market pursuant
(September 7, 2016), 81 FR 62963 (September 13, Securities Exchange Act of 1934, as to unlisted trading privileges, such trading will be
2016) (SR–DTC–2016–007; SR–FICC–2016–005; conducted pursuant to self-regulatory organization
SR–NSCC–2016–003). 5 Id.
rules that are, or will become, effective pursuant to
4 15 U.S.C. 78s(b)(2). 6 17 CFR 200.30–3(a)(31). Section 19(b) of the Exchange Act.
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Document Created: 2016-11-01 02:35:48
Document Modified: 2016-11-01 02:35:48
| 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 75865 |
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