81 FR 88306 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Rules Governing Business Continuity and Disaster Recovery
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 235 (December 7, 2016)
Federal Register Volume 81, Issue 235 (December 7, 2016)
| Page Range | 88306-88308 | |
| FR Document | 2016-29289 |
[Federal Register Volume 81, Number 235 (Wednesday, December 7, 2016)] [Notices] [Pages 88306-88308] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-29289] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79444; File No. SR-NYSE-2016-81] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Rules Governing Business Continuity and Disaster Recovery December 1, 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 November 22, 2016, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') 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 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\ 15 U.S.C. 78a. \3\ 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 its rules governing business continuity and disaster recovery to delete Rule 49 (Emergency Powers) and set an operative date for Rule 49 (Exchange Business Continuity and Disaster Recovery Plans and Mandatory Testing). 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 its rules governing business continuity and disaster recovery to delete Rule 49 (Emergency Powers) (``Print as P Rule'') and set an operative date for Rule 49 (Exchange Business Continuity and Disaster Recovery Plans and Mandatory Testing) (``Rule 49''). The Exchange proposes to make these changes because the Exchange has completed testing of the operation of Rule 49 in its Disaster Recovery ``DR'' facility and therefore plans to implement it. Accordingly, the Exchange proposes to delete its Print as P Rule as obsolete, with an operative date of November 23, 2016. On September 29, 2016, the Commission approved amendments to the Exchange's business continuity and disaster recovery plans.\4\ In that filing, the Exchange added the following preamble to the Print as P Rule: --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 78916 (September 23, 2016), 81 FR 67029 (September 29, 2016) (SR-NYSE-2016-48) (order granting approval of proposed rule change, as modified by Amendment No. 1 and Partial Amendment No. 2). --------------------------------------------------------------------------- This version of Rule 49 will remain operative until the proposed rule changes described in SR-NYSE-2016-48 are approved and the Exchange files a separate proposed rule change to delete this version of Rule 49 and preamble and to establish the operative date of paragraph (a) of ``Rule 49. Exchange Business Continuity and Disaster Recovery Plans and Mandatory [[Page 88307]] Testing.'' Subject to such separate proposed rule change, the Exchange will announce via Trader Update the operative date of the deletion of this Rule and implementation of paragraph (a) of Rule 49. Exchange Business Continuity and Disaster Recovery Plans and Mandatory Testing. In addition, the Exchange added the following preamble to Rule 49 and added an ``N'' modifier to Rule 49(b), to distinguish it from paragraph (b) of the Print as P Rule. The Exchange will file a separate proposed rule change to establish the operative date of paragraph (a) of this version of Rule 49 and to delete ``Rule 49. Emergency Powers'' and this preamble. Until such time, ``Rule 49. Emergency Powers'' will remain operative. Subject to such separate proposed rule change, the Exchange will announce via Trader Update the operative date of paragraph (a) of this Rule and deletion of ``Rule 49. Emergency Powers.'' Member organizations required to test Exchange Backup Systems under paragraph (b)(N) of this Rule will be required to test trading on the Exchange's Disaster Recovery Facility under paragraph (a) of this Rule on date(s) to be determined by the Exchange. Such mandatory testing dates will be announced by Trader Update. On November 5 and 19, 2016, the Exchange held the mandatory testing sessions for the operation of Rule 49 in the DR facility.\5\ The Exchange has determined that these tests were successful because all member organizations required to test trading on the Exchange's DR facility, as specified in the second paragraph of the preamble to Rule 49, participated in the tests and the DR facility operated as provided for in Rule 49. Accordingly, the Exchange proposes to retire its Print as P Rule and implement Rule 49 operative November 23, 2016. --------------------------------------------------------------------------- \5\ The Exchange announced by Trader Update that industry tests would be held on November 5, 2016 and November 19, 2016. See NYSE Trader Updates, dated September 9 and 16, 2016, available at https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_and_NYSE_MKT_DR_Trader_Update_Final.pdf and https://www.nyse.com/publicdocs/nyse/markets/nyse/DR_Testing.pdf. --------------------------------------------------------------------------- The Exchange therefore proposes to:Delete the Print as P Rule, including the preamble; Delete the explanatory preamble to Rule 49; and Delete the ``N'' modifier to new Rule 49(b), which distinguished new Rule 49(b) from the Print as P Rule 49(b). In addition to this proposed rule change, the Exchange proposes to announce the operative date of November 23, 2016 via Trader Update.\6\ --------------------------------------------------------------------------- \6\ NYSE MKT LLC, the Exchange's affiliate, has also submitted substantially the same proposed rule change to propose the same changes as described herein. See SR-NYSEMKT-2016-109. In addition, NYSE Arca, Inc., the Exchange's affiliate, has submitted a proposed rule change to delete NYSE Arca Equities Rule 2.100, which allowed it to act on behalf of and at the direction of the Exchange if the Exchange invoked its Print as P Rule. See SR-NYSEArca-2016-154. --------------------------------------------------------------------------- 2. Statutory Basis The proposed rule changes are consistent with Section 6(b) of the Act,\7\ in general, and further the objectives of Section 6(b)(5) of the Act,\8\ in particular, in that they are 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 facilitating transactions in securities, and to 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. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the Exchange believes that amending its rules to delete the Print as P Rule, which is no longer operative after the successful completion of mandatory testing by the Exchange's member organizations of the operation of Rule 49, would promote the protection of investors and the public interest because it would promote clarity and transparency on the Exchange rules governing the Exchange's business continuity and disaster recovery planning. The Exchange further believes that deleting the superseded rule that was applicable only to the prior disaster recovery plan, deleting the preamble to Rule 49, and deleting the ``N'' modifier that distinguished the new rule from the now obsolete rule would remove impediments to and perfect the mechanism of a national market system because these proposed changes would add greater clarity to the Exchange's rules and promote market transparency and efficiency. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address competitive issues but rather is designed to facilitate trading in Exchange-listed securities on its DR facility. As such, the Exchange believes that the proposed rule change would promote competition for the benefit of market participants and investors generally because it provides transparency on the Exchange rules which would govern trading in Exchange traded securities if they trade on the Exchange's DR facility and greater efficiency and transparency concerning trading on the Exchange in the event of a disaster. 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\ 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 prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b- 4(f)(6)(iii) thereunder. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A)(iii). \10\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),\12\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \11\ 17 CFR 240.19b-4(f)(6). \12\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- 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 waiving the 30-day operative delay is consistent with the protection of investors and the public interest because doing so would allow the Exchange to more quickly implement a business continuity and disaster recovery plan under which the Exchange no longer relies on the facilities of an affiliated exchange. Therefore, the Commission hereby [[Page 88308]] waives the 30-day operative delay and designates the proposed rule change to be operative upon filing with the Commission.\13\ --------------------------------------------------------------------------- \13\ For purposes only of waiving the operative delay for this proposal, the Commission has 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 such 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 under Section 19(b)(2)(B) \14\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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-NYSE-2016-81 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2016-81. 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-NYSE-2016-81 and should be submitted on or before December 28, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-29289 Filed 12-6-16; 8:45 am] BILLING CODE 8011-01-P
![88306 Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices
waives the 30-day operative delay and provisions of 5 U.S.C. 552, will be operative date for Rule 49 (Exchange
designates the proposed rule change to available for Web site viewing and Business Continuity and Disaster
be operative upon filing with the printing in the Commission’s Public Recovery Plans and Mandatory Testing).
Commission.13 Reference Room, 100 F Street NE., The proposed rule change is available
At any time within 60 days of the Washington, DC 20549 on official on the Exchange’s Web site at
filing of such proposed rule change, the business days between the hours of www.nyse.com, at the principal office of
Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the the Exchange, and at the Commission’s
temporarily suspend such rule change if filing also will be available for Public Reference Room.
it appears to the Commission that such inspection and copying at the principal
action is necessary or appropriate in the office of the Exchange. All comments II. Self-Regulatory Organization’s
public interest, for the protection of received will be posted without change; Statement of the Purpose of, and
investors, or otherwise in furtherance of the Commission does not edit personal Statutory Basis for, the Proposed Rule
the purposes of the Act. If the identifying information from Change
Commission takes such action, the submissions. You should submit only In its filing with the Commission, the
Commission shall institute proceedings information that you wish to make self-regulatory organization included
under Section 19(b)(2)(B) 14 of the Act to available publicly. All submissions statements concerning the purpose of,
determine whether the proposed rule should refer to File Number SR– and basis for, the proposed rule change
change should be approved or NYSEMKT–2016–109 and should be and discussed any comments it received
disapproved. submitted on or before December 28, on the proposed rule change. The text
IV. Solicitation of Comments 2016. of those statements may be examined at
For the Commission, by the Division of the places specified in Item IV below.
Interested persons are invited to The Exchange has prepared summaries,
Trading and Markets, pursuant to delegated
submit written data, views, and authority.15 set forth in sections A, B, and C below,
arguments concerning the foregoing, of the most significant parts of such
Brent J. Fields,
including whether the proposed rule statements.
Secretary.
change is consistent with the Act.
Comments may be submitted by any of [FR Doc. 2016–29288 Filed 12–6–16; 8:45 am] A. Self-Regulatory Organization’s
the following methods: BILLING CODE 8011–01–P Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Electronic Comments Change
• Use the Commission’s Internet SECURITIES AND EXCHANGE
COMMISSION 1. Purpose
comment form (http://www.sec.gov/
rules/sro.shtml); or [Release No. 34–79444; File No. SR–NYSE– The Exchange proposes to amend its
• Send an email to rule-comments@ 2016–81] rules governing business continuity and
sec.gov. Please include File Number SR– disaster recovery to delete Rule 49
NYSEMKT–2016–109 on the subject Self-Regulatory Organizations; New (Emergency Powers) (‘‘Print as P Rule’’)
line. York Stock Exchange LLC; Notice of and set an operative date for Rule 49
Filing and Immediate Effectiveness of (Exchange Business Continuity and
Paper Comments Proposed Rule Change Amending Its Disaster Recovery Plans and Mandatory
• Send paper comments in triplicate Rules Governing Business Continuity Testing) (‘‘Rule 49’’). The Exchange
to Brent J. Fields, Secretary, Securities and Disaster Recovery proposes to make these changes because
and Exchange Commission, 100 F Street the Exchange has completed testing of
NE., Washington, DC 20549–1090. December 1, 2016.
the operation of Rule 49 in its Disaster
All submissions should refer to File Pursuant to Section 19(b)(1) 1 of the Recovery ‘‘DR’’ facility and therefore
Number SR–NYSEMKT–2016–109. This Securities Exchange Act of 1934 (the plans to implement it. Accordingly, the
file number should be included on the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Exchange proposes to delete its Print as
subject line if email is used. To help the notice is hereby given that on November P Rule as obsolete, with an operative
Commission process and review your 22, 2016, New York Stock Exchange date of November 23, 2016.
comments more efficiently, please use LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed On September 29, 2016, the
only one method. The Commission will with the Securities and Exchange Commission approved amendments to
post all comments on the Commission’s Commission (the ‘‘Commission’’) the the Exchange’s business continuity and
Internet Web site (http://www.sec.gov/ proposed rule change as described in disaster recovery plans.4 In that filing,
rules/sro.shtml). Copies of the Items I and II below, which Items have the Exchange added the following
submission, all subsequent been prepared by the Exchange. The preamble to the Print as P Rule:
amendments, all written statements Commission is publishing this notice to This version of Rule 49 will remain
with respect to the proposed rule solicit comments on the proposed rule operative until the proposed rule
change that are filed with the change from interested persons. changes described in SR–NYSE–2016–
Commission, and all written I. Self-Regulatory Organization’s 48 are approved and the Exchange files
communications relating to the Statement of the Terms of Substance of a separate proposed rule change to
proposed rule change between the the Proposed Rule Change delete this version of Rule 49 and
Commission and any person, other than preamble and to establish the operative
asabaliauskas on DSK3SPTVN1PROD with NOTICES
The Exchange proposes to amend its
those that may be withheld from the date of paragraph (a) of ‘‘Rule 49.
rules governing business continuity and
public in accordance with the Exchange Business Continuity and
disaster recovery to delete Rule 49
Disaster Recovery Plans and Mandatory
13 For purposes only of waiving the operative
(Emergency Powers) and set an
delay for this proposal, the Commission has 4 See Securities Exchange Act Release No. 78916
15 17 CFR 200.30–3(a)(12).
considered the proposed rule’s impact on (September 23, 2016), 81 FR 67029 (September 29,
1 15 U.S.C.78s(b)(1).
efficiency, competition, and capital formation. See 2016) (SR–NYSE–2016–48) (order granting approval
15 U.S.C. 78c(f). 2 15 U.S.C. 78a.
of proposed rule change, as modified by
14 15 U.S.C. 78s(b)(2)(B). 3 17 CFR 240.19b–4. Amendment No. 1 and Partial Amendment No. 2).
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![88308 Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices
waives the 30-day operative delay and available for Web site viewing and a hearing. Interested persons may
designates the proposed rule change to printing in the Commission’s Public request a hearing by writing to the
be operative upon filing with the Reference Room, 100 F Street NE., Commission’s Secretary and serving
Commission.13 Washington, DC 20549 on official Applicant with a copy of the request,
At any time within 60 days of the business days between the hours of personally or by mail. Hearing requests
filing of such proposed rule change, the 10:00 a.m. and 3:00 p.m. Copies of the should be received by the Commission
Commission summarily may filing also will be available for by 5:30 p.m. on December 27, 2016, and
temporarily suspend such rule change if inspection and copying at the principal should be accompanied by proof of
it appears to the Commission that such office of the Exchange. All comments service on Applicant, in the form of an
action is necessary or appropriate in the received will be posted without change; affidavit or, for lawyers, a certificate of
public interest, for the protection of the Commission does not edit personal service. Pursuant to rule 0–5 under the
investors, or otherwise in furtherance of identifying information from Advisers Act, hearing requests should
the purposes of the Act. If the submissions. You should submit only state the nature of the writer’s interest,
Commission takes such action, the information that you wish to make any facts bearing upon the desirability
Commission shall institute proceedings available publicly. All submissions of a hearing on the matter, the reason for
under Section 19(b)(2)(B) 14 of the Act to should refer to File Number SR–NYSE– the request, and the issues contested.
determine whether the proposed rule 2016–81 and should be submitted on or Persons who wish to be notified of a
change should be approved or before December 28, 2016. hearing may request notification by
disapproved. writing to the Commission’s Secretary.
For the Commission, by the Division of
IV. Solicitation of Comments Trading and Markets, pursuant to delegated ADDRESSES: Secretary, U.S. Securities
Interested persons are invited to authority.15 and Exchange Commission, 100 F Street
submit written data, views, and Brent J. Fields, NE., Washington, DC 20549–1090.
arguments concerning the foregoing, Secretary. Applicant, Charles M. Weber, Managing
including whether the proposed rule [FR Doc. 2016–29289 Filed 12–6–16; 8:45 am] Director, Robert W. Baird & Co.
change is consistent with the Act. BILLING CODE 8011–01–P
Incorporated, 777 East Wisconsin
Comments may be submitted by any of Avenue, Milwaukee, Wisconsin 53202
the following methods: and Monica Lea Parry, Morgan, Lewis &
SECURITIES AND EXCHANGE Bockius LLP, 1111 Pennsylvania Ave.
Electronic Comments COMMISSION NW., Washington, DC 20004.
• Use the Commission’s Internet FOR FURTHER INFORMATION CONTACT:
[Release No. IA–4579; File No. 803–00237]
comment form (http://www.sec.gov/ Robert Shapiro, Senior Counsel, at (202)
rules/sro.shtml); or Robert W. Baird & Co. Incorporated; 551–7758 (Chief Counsel’s Office,
• Send an email to rule-comments@ Notice of Application Division of Investment Management) or
sec.gov. Please include File Number SR– Melissa Harke, Senior Special Counsel,
NYSE–2016–81 on the subject line. December 1, 2016. at (202) 551–6787 (Investment Adviser
Paper Comments AGENCY: Securities and Exchange Regulation Office, Division of
Commission (‘‘Commission’’). Investment Management).
• Send paper comments in triplicate SUPPLEMENTARY INFORMATION: The
ACTION: Notice of application for an
to Brent J. Fields, Secretary, Securities following is a summary of the
exemptive order under section 206A of
and Exchange Commission, 100 F Street application. The complete application
the Investment Advisers Act of 1940
NE., Washington, DC 20549–1090. may be obtained via the Commission’s
(‘‘Advisers Act’’) providing an
All submissions should refer to File exemption from the written disclosure Web site at http://www.sec.gov/rules/
Number SR–NYSE–2016–81. This file and consent requirements of section iareleases.shtml or by calling (202) 551–
number should be included on the 206(3). 8090.
subject line if email is used. To help the Applicant seeks relief from the
Commission process and review your Applicant: Robert W. Baird & Co. written disclosure and consent
comments more efficiently, please use Incorporated (‘‘Applicant’’). requirements of section 206(3) of the
only one method. The Commission will Relevant Advisers Act Sections: Advisers Act that would be similar to
post all comments on the Commission’s Exemption requested under section relief currently provided by Advisers
Internet Web site (http://www.sec.gov/ 206A from the written disclosure and Act rule 206(3)–3T (the ‘‘Rule’’), which
rules/sro.shtml). Copies of the consent requirements of section 206(3). will expire by its terms on December 31,
submission, all subsequent Summary of Application: Applicant 2016. The relief sought by Applicant, if
amendments, all written statements requests that the Commission issue an granted, would be subject to conditions
with respect to the proposed rule order under section 206A exempting it similar to those under the Rule, as well
change that are filed with the and Future Advisers (as defined below) as certain revised or additional
Commission, and all written from the written disclosure and consent conditions.
communications relating to the requirements of section 206(3) with
proposed rule change between the respect to principal transactions with Applicant’s Representations
Commission and any person, other than nondiscretionary advisory client 1. The Applicant is registered as an
those that may be withheld from the accounts. investment adviser with the
asabaliauskas on DSK3SPTVN1PROD with NOTICES
public in accordance with the Filing Dates: The application was Commission and is a registered broker-
provisions of 5 U.S.C. 552, will be filed on October 14, 2016 and amended dealer. The Applicant is an employee-
on November 23, 2016. owned wealth management, capital
13 For purposes only of waiving the operative
Hearing or Notification of Hearing: An markets, asset management, and private
delay for this proposal, the Commission has equity firm with operations in the
considered the proposed rule’s impact on
order granting the requested relief will
efficiency, competition, and capital formation. See be issued unless the Commission orders United States, Europe, and Asia. The
15 U.S.C. 78c(f). Applicant offers a number of advisory
14 15 U.S.C. 78s(b)(2)(B). 15 17 CFR 200.30–3(a)(12). programs, including the Advisory
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Document Created: 2016-12-07 05:31:30
Document Modified: 2016-12-07 05:31:30
| 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 88306 |
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