81 FR 87989 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 234 (December 6, 2016)

Page Range		87989-87990
FR Document		2016-29295

Federal Register, Volume 81 Issue 234 (Tuesday, December 6, 2016)

[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)]
[Notices]
[Pages 87989-87990]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-29295]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission Investor Advisory Committee will hold a meeting 
on Thursday, December 8, 2016, in Multi-Purpose Room LL-006 at the 
Commission's headquarters, 100 F Street NE., Washington, DC 20549. The 
meeting will begin at 9:30 a.m. (ET) and will be open to the public. 
Seating will be on a first-come, first-served basis. Doors will open at 
9:00 a.m. Visitors will be subject to security checks. The meeting will 
be webcast on the Commission's Web site at www.sec.gov.
    On November 17, 2016, the Commission issued notice of the Committee 
meeting (Release No. 33-10257), indicating that the meeting is open to 
the public (except during that

[[Page 87990]]

portion of the meeting reserved for an administrative work session 
during lunch), and inviting the public to submit written comments to 
the Committee. This Sunshine Act notice is being issued because a 
quorum of the Commission may attend the meeting.
    The agenda for the meeting includes: Remarks from Commissioners; a 
discussion regarding investor protection priorities for the New Year; 
the announcement of election results for open officer positions; an 
update on the Commission's response to the rulemaking mandate of the 
Fixing America's Surface Transportation Act concerning public company 
disclosure requirements; and a nonpublic administrative work session 
during lunch.
    For further information, please contact Brent J. Fields from the 
Office of the Secretary at (202) 551-5400.

    Dated: December 1, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-29295 Filed 12-2-16; 11:15 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices 87989

otherwise would arise if OCC were Electronic Comments OCC’s compliance with the
subject to withholding obligations with • Use the Commission’s Internet requirements of another applicable
respect to Dividend Equivalents under comment form (http://www.sec.gov/ regulatory regime. Accordingly, the
Section 871(m). As noted above in rules/sro.shtml); or Commission finds good cause, pursuant
Section I.A.2, given OCC’s daily net • Send an email to rule-comments@ to Section 19(b)(2) of the Act,30 to
settlement process, OCC may be sec.gov. Please include File Number SR– approve the filing, as modified by
required to apply its own funds if it OCC–2016–014 on the subject line. Amendment No. 1, on an accelerated
were obligated to effectuate basis prior to the 30th day after the date
withholdings to the IRS pursuant to Paper Comments of the publication in the Federal
Section 871(m). The assumption of • Send paper comments in triplicate Register of the Notice and the notice of
withholding responsibilities by OCC to Secretary, Securities and Exchange Amendment No. 1 to the filing.
would introduce uncertainty and risks Commission, 100 F Street NE., V. Conclusion
around the settlement of funds at OCC. Washington, DC 20549–1090.
On the basis of the foregoing, the
The proposed rule change would All submissions should refer to File Commission finds that the proposal is
transfer the obligation for any such Number SR–OCC–2016–014. This file consistent with the requirements of the
withholding (and any resulting liability) number should be included on the Act, and in particular, with the
to FFI Clearing Members by requiring subject line if email is used. To help the requirements of Section 17A of the
FFI Clearing Members to enter into Commission process and review your Act 31 and the rules and regulations
certain agreements with the IRS under comments more efficiently, please use thereunder.
which the FFI Clearing Member only one method. The Commission will It is therefore ordered, pursuant to
assumes primary withholding post all comments on the Commission’s Section 19(b)(2) of the Act,32 that the
responsibilities with respect to Internet Web site (http://www.sec.gov/ proposed rule change (SR–OCC–2016–
transactions that it enters into on behalf rules/sro.shtml). Copies of the 014), as modified by Amendment No. 1,
of customers (i.e., as an intermediary) or submission, all subsequent be, and it hereby is, approved on an
for its own account (i.e., as a principal) amendments, all written statements accelerated basis.
and to be FATCA Compliant. The with respect to the proposed rule
change that are filed with the For the Commission, by the Division of
proposed rule change therefore would Trading and Markets, pursuant to delegated
eliminate the potential uncertainty and Commission, and all written authority.33
risks in the daily settlement of funds at communications relating to the
Eduardo A. Aleman,
OCC that otherwise would be imposed proposed rule change between the
Assistant Secretary.
by Section 871(m)’s new mandate. Thus, Commission and any person, other than
[FR Doc. 2016–29163 Filed 12–5–16; 8:45 am]
the Commission finds that the proposed those that may be withheld from the
public in accordance with the BILLING CODE 8011–01–P
rule change is designed to promote the
prompt and accurate clearance and provisions of 5 U.S.C. 552, will be
settlement of securities and derivatives available for Web site viewing and
SECURITIES AND EXCHANGE
transactions, and the safeguarding of printing in the Commission’s Public
COMMISSION
securities and funds at OCC. While the Reference Room, 100 F Street NE.,
proposed rule change would impose Washington, DC 20549, on official Sunshine Act Meeting
additional requirements and/or business days between the hours of
restrictions on FFI Clearing Members, 10:00 a.m. and 3:00 p.m. Copies of such Notice is hereby given, pursuant to
the proposed rules are designed to filings also will be available for the provisions of the Government in the
address in a targeted and proportionate inspection and copying at the principal Sunshine Act, Public Law 94–409, that
manner specific issues and potential office of OCC and on OCC’s Web site at the Securities and Exchange
risks to OCC arising from those FFI http://www.theocc.com/components/ Commission Investor Advisory
Clearing Members whose membership docs/legal/rules_and_bylaws/sr_occ_16_ Committee will hold a meeting on
creates potential withholding 014.pdf. Thursday, December 8, 2016, in Multi-
obligations for OCC under the revised All comments received will be posted Purpose Room LL–006 at the
tax provisions. The Commission without change; the Commission does Commission’s headquarters, 100 F
therefore finds that the proposed rule not edit personal identifying Street NE., Washington, DC 20549. The
change does not unfairly discriminate information from submissions. You meeting will begin at 9:30 a.m. (ET) and
among participants in the use of the should submit only information that will be open to the public. Seating will
you wish to make available publicly. be on a first-come, first-served basis.
clearing agency. Based on the above, the
All submissions should refer to File Doors will open at 9:00 a.m. Visitors
Commission finds that the proposed
Number SR–OCC–2016–014 and should will be subject to security checks. The
rule change is consistent with Section
be submitted on or before December 27, meeting will be webcast on the
17A(b)(3)(F) of the Act.29
2016. Commission’s Web site at www.sec.gov.
III. Solicitation of Comments On November 17, 2016, the
IV. Accelerated Approval of Proposed Commission issued notice of the
Interested persons are invited to Rule Change, as Modified by Committee meeting (Release No. 33–
submit written data, views and Amendment No. 1 10257), indicating that the meeting is
arguments concerning the foregoing, As discussed above, OCC submitted open to the public (except during that
mstockstill on DSK3G9T082PROD with NOTICES

including whether the proposed rule Amendment No. 1 in order to adjust and
change, as modified by Amendment No. clarify the date by which affected 30 15 U.S.C. 78s(b)(2).
1, is consistent with the Act. Comments Clearing Members would need to 31 Inapproving this proposed rule change, the
may be submitted by any of the Commission has considered the proposed rule’s
demonstrate compliance with the impact on efficiency, competition, and capital
following methods: proposed rule change. Amendment No. formation. See 15 U.S.C. 78c(f).
1 does not raise any novel issues, and 32 15 U.S.C. 78s(b)(2).
29 15 U.S.C. 78q–1(b)(3)(F). the filing has been designed to facilitate 33 17 CFR 200.30–3(a)(12).

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87990 Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices

portion of the meeting reserved for an for the quoting and trading of certain proposed rule change is to extend the
administrative work session during options in pennies (the ‘‘Penny Pilot Penny Pilot Program in its current
lunch), and inviting the public to Program’’). format through June 30, 2017.
submit written comments to the The text of the proposed rule change In addition to the extension of the
Committee. This Sunshine Act notice is is available on the Exchange’s Web site Penny Pilot Program through June 30,
being issued because a quorum of the at http://www.miaxoptions.com/filter/ 2017, the Exchange proposes to extend
Commission may attend the meeting. wotitle/rule_filing, at MIAX’s principal one other date in the Rule. Currently,
The agenda for the meeting includes: office, and at the Commission’s Public Interpretations and Policies .01 states
Remarks from Commissioners; a Reference Room. that the Exchange will replace any
discussion regarding investor protection II. Self-Regulatory Organization’s Penny Pilot issues that have been
priorities for the New Year; the Statement of the Purpose of, and delisted with the next most actively
announcement of election results for Statutory Basis for, the Proposed Rule traded multiply listed option classes
open officer positions; an update on the Change that are not yet included in the Penny
Commission’s response to the Pilot Program, and that the replacement
rulemaking mandate of the Fixing In its filing with the Commission, the issues will be selected based on trading
America’s Surface Transportation Act Exchange included statements activity in the previous six months.
concerning public company disclosure concerning the purpose of and basis for Such option classes will be added to the
requirements; and a nonpublic the proposed rule change and discussed Penny Pilot Program on the second
administrative work session during any comments it received on the trading day following July 1, 2016.5
lunch. proposed rule change. The text of these Because this date has expired and the
For further information, please statements may be examined at the Exchange intends to continue this
contact Brent J. Fields from the Office of places specified in Item IV below. The
practice for the duration of the Penny
Exchange has prepared summaries, set
the Secretary at (202) 551–5400. Pilot Program, the Exchange is
forth in sections A, B, and C below, of
Dated: December 1, 2016. proposing to amend the Rule to reflect
the most significant aspects of such
Brent J. Fields,
that such option classes will be added
statements.
to the Penny Pilot Program on the
Secretary.
A. Self-Regulatory Organization’s second trading day following January 1,
[FR Doc. 2016–29295 Filed 12–2–16; 11:15 am]
Statement of the Purpose of, and the 2017.
BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule The purpose of this provision is to
Change reflect the new date on which
1. Purpose replacement issues may be added to the
SECURITIES AND EXCHANGE
Penny Pilot Program.
COMMISSION The Exchange is a participant in an
industry-wide pilot program that 2. Statutory Basis
[Release No. 34–79432; File No. SR–MIAX–
2016–45] provides for the quoting and trading of MIAX believes that its proposed rule
certain option classes in penny change is consistent with Section 6(b) of
Self-Regulatory Organizations; Miami increments (the ‘‘Penny Pilot Program’’ the Act 6 in general, and furthers the
International Securities Exchange LLC; or ‘‘Program’’). The Penny Pilot Program objectives of Section 6(b)(5) of the Act 7
Notice of Filing and Immediate allows the quoting and trading of certain in particular, in that it is designed to
Effectiveness of a Proposed Rule option classes in minimum increments prevent fraudulent and manipulative
Change To Amend Exchange Rule 510 of $0.01 for all series in such option acts and practices, to promote just and
To Extend the Penny Pilot Program classes with a price of less than $3.00; equitable principles of trade, to foster
and in minimum increments of $0.05 for cooperation and coordination with
November 30, 2016. all series in such option classes with a persons engaged in facilitating
Pursuant to the provisions of Section price of $3.00 or higher. Options transactions in securities, to remove
19(b)(1) of the Securities Exchange Act overlying the PowerShares QQQTM impediments to and perfect the
of 1934 (‘‘Act’’) 1 and Rule 19b–4 (‘‘QQQ’’), SPDR® S&P 500® ETF mechanisms of a free and open market
thereunder,2 notice is hereby given that, (‘‘SPY’’), and iShares® Russell 2000 ETF and a national market system and, in
on November 21, 2016, Miami (‘‘IWM’’), however, are quoted and general, to protect investors and the
International Securities Exchange LLC traded in minimum increments of $0.01 public interest. In particular, the
(‘‘MIAX’’ or ‘‘Exchange’’) filed with the for all series regardless of the price. The proposed rule change, which extends
Securities and Exchange Commission Penny Pilot Program was initiated at the the Penny Pilot Program for six months,
(‘‘Commission’’) a proposed rule change then existing option exchanges in allows the Exchange to continue to
as described in Items I, II, and III below, January 2007 3 and currently includes participate in a program that has been
which Items have been prepared by the more than 300 of the most active option viewed as beneficial to traders, investors
Exchange. The Commission is classes. The Penny Pilot Program is and public customers and viewed as
publishing this notice to solicit currently scheduled to expire on successful by the other options
comments on the proposed rule change December 31, 2016.4 The purpose of the exchanges participating in it.
from interested persons.
3 See Securities Exchange Act Release Nos. 55154
I. Self-Regulatory Organization’s (January 23, 2007), 72 FR 4743 (February 1, 2007) MIAX–2016–16) (extending the Penny Pilot
Statement of the Terms of Substance of (SR–CBOE–2006–92); 55161 (January 24, 2007), 72 Program from June 30, 2016, to December 31, 2016).
mstockstill on DSK3G9T082PROD with NOTICES

5 The month immediately preceding a
the Proposed Rule Change FR 4754 (February 1, 2007) (SR–ISE–2006–62);
54688 (December 6, 2006), 71 FR 74979 (December replacement class’s addition to the Pilot Program
The Exchange is filing a proposal to 13, 2006) (SR–Phlx–2006–74); 54590 (October 12, (i.e., June) is not used for purposes of the six-month
2006), 71 FR 61525 (October 18, 2006) (SR– analysis. For example, a replacement added on the
amend Rule 510, Interpretations and second trading day following July 1, 2016, will be
NYSEArca–2006–73); and 54741 (November 9,
Policies .01 to extend the pilot program 2006), 71 FR 67176 (November 20, 2006) (SR– identified based on trading activity from December
Amex–2006–106). 1, 2015, through May 31, 2016.
1 15 U.S.C. 78s(b)(1). 4 See Securities Exchange Act Release No. 78080 6 15 U.S.C. 78f(b).
2 17 CFR 240.19b–4. (June 15, 2016), 81 FR 40377 (June 21, 2016) (SR– 7 15 U.S.C. 78f(b)(5).

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Document Created: 2016-12-06 02:18:27
Document Modified: 2016-12-06 02:18:27

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 87989