81_FR_95968 81 FR 95719 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 123D-Equities and the Listed Company Manual

81 FR 95719 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 123D-Equities and the Listed Company Manual

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 249 (December 28, 2016)

Page Range95719-95721
FR Document2016-31304

Federal Register, Volume 81 Issue 249 (Wednesday, December 28, 2016)
[Federal Register Volume 81, Number 249 (Wednesday, December 28, 2016)]
[Notices]
[Pages 95719-95721]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-31304]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79642; File No. SR-NYSEMKT-2016-118]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Amending Rule 123D--
Equities and the Listed Company Manual

December 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 December 13, 2016, NYSE MKT LLC (the ``Exchange'' or 
``NYSE MKT'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II, 
and III below, which Items have been prepared by the self-regulatory 
organization. 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.
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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 123D--Equities and the Listed 
Company Manual to eliminate the requirement for Floor Official approval 
for halts in trading. 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 123D--Equities and the Company 
Guide to eliminate the requirement for Floor Official \4\ approval 
before halting trading in a security. The Exchange believes that in 
today's trading environment, the requirement for Floor Official 
approval before halting trading in a security is unnecessary and 
duplicative of Exchange obligations to assess whether to halt trading 
in a security under Section 402 of the NYSE MKT Company Guide.
---------------------------------------------------------------------------

    \4\ ``Floor Official'' encompasses Floor Governor, Floor 
Official, Executive Floor Governor and Senior Floor Governor, as 
their responsibilities are currently assigned in connection with 
trading halts. See also Rules 46--Equities and 46A--Equities 
defining Floor Governor, Floor Official, and Executive Floor 
Governor.
---------------------------------------------------------------------------

    Current Rule 123D(d)--Equities provides that once trading has 
commenced, trading may only be halted with the approval of a Floor 
Governor or two Floor Officials and that an Executive Floor Governor, 
or in their absence a Senior Floor Governor, should be consulted if it 
is felt that trading should be halted in a bank or brokerage stock due 
to a potential misperception regarding the company's financial 
viability.\5\ The rule further provides that if a listed company 
notifies the Exchange in advance of publication concerning news which 
might have a substantial market impact, the Exchange should advise an 
Executive Floor Governor or Floor Governor, or in their absence, a 
Floor Official, and specifies procedures for Floor Governors to 
overrule the Exchange's determination that a security should be halted.
---------------------------------------------------------------------------

    \5\ See Rules 46--Equities and 46A--Equities (defining the terms 
Floor Official, Senior Floor Official, Executive Floor Official, 
Floor Governor, and Executive Floor Governor).
---------------------------------------------------------------------------

    Commensurate with the evolution of the equities markets and trading 
on the Exchange towards more automated processes, the procedures and 
situations requiring approvals by Floor Officials have also evolved. 
For example, the Exchange previously eliminated the ability of a Floor 
broker to seek an exception to Rule 122--Equities requirements if Floor 
Official permission is obtained.\6\ In connection with trading halts, 
the Exchange is responsible for determining whether to halt trading in 
a security under Section 402 of the Company Guide. Thus, requiring 
Floor Official approval before a trading halt can be invoked is an 
unnecessary pro forma step rather than a substantive requirement. 
Moreover, obtaining Floor Governor approval adds an extra manual step 
to the process, which could impede the timely dissemination of a 
trading halt. Finally, given market fragmentation and highly automated 
equities trading environment, the Exchange does not believe that Floor 
Governors, who do not have contact with the listed company, should be 
in a position to override an Exchange determination to halt trading in 
a security. Consequently, the Exchange proposes to delete Rule 
123D(d)--Equities in its entirety as unnecessary and duplicative of 
existing Exchange obligations specified in the Company Guide.
---------------------------------------------------------------------------

    \6\ See also Securities Exchange Act Release No. 67346 (July 3, 
2012), 77 FR 40671 (July 10, 2012) (SR-NYSEMKT-2012-15) (notice of 
filing and immediate effectiveness of proposed rule change amending 
certain Exchange rules related to floor official duties and 
responsibilities).
---------------------------------------------------------------------------

    The Exchange also proposes to make a related change to Section 402 
of the Company Guide to delete a reference to Rule 123D--Equities that 
would be rendered obsolete by the proposed deletion of Rule 123D(d)--
Equities. In addition, the Exchange also proposes to make a related 
change to Section 404 of the Company Guide to delete a reference to a 
consultation with trading floor officials that would be rendered 
obsolete by the proposed deletion of Rule 123D(d)--Equities. In 
addition, the Exchange proposes to re-letter the remaining subsections 
of Rule 123D--Equities to account for the deletion of Rule 123D(d)--
Equities.
    The Exchange proposes to make a related change to eliminate the 
requirement in Rule 123D(e)--Equities that an ``Equipment Changeover'' 
halt in trading requires the approval of a Floor Governor or two Floor 
Officials as such approval is no longer necessary. An Equipment 
Changeover halt is a non-regulatory halt condition that only halts 
trading on the Exchange. The Exchange believes that if circumstances 
arise warranting an Equipment Changeover halt, obtaining Floor Official 
approval before halting trading adds an unnecessary step that is no 
longer needed in today's automated markets.
    Because of the procedural changes associated with the proposed rule

[[Page 95720]]

changes, the Exchange proposes to announce the eliminations via Trader 
Update and anticipates implementing the changes in the first quarter of 
2017.
2. Statutory Basis
    The proposed rule changes are consistent with Section 6(b) \7\ of 
the Act, in general, and furthers the objectives of Section 6(b)(5),\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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule changes support the 
objectives of the Act by amending duties and responsibilities once 
assigned to Floor Officials to better comport with the Exchange's 
current regulatory structure and to reflect the changing technology and 
development of its automated systems. Specifically, eliminating the 
unnecessary step of obtaining Floor Official approval in connection 
with trading halts would remove impediments to and perfect a national 
market system by streamlining and simplifying functionality and 
complexity in connection with trading halts. The Exchange believes that 
streamlining the procedures and eliminating unnecessary Floor Official 
approval requirements would be consistent with the public interest and 
the protection of investors because investors will not be harmed and in 
fact would benefit from the removal of unnecessary functionality. The 
Exchange also believes that eliminating Floor Official approval would 
benefit investors by adding transparency and clarity to the Exchange's 
rules.
    The Exchange believes that the proposed deletion of the reference 
to Rule 123D--Equities in Section 402 of the Company Guide is 
reasonable, equitable and not unfairly discriminatory because the 
reference is obsolete. The Exchange believes that the proposed deletion 
of the reference to a consultation with trading floor officials in 
Section 404 of the Company Guide is reasonable, equitable and not 
unfairly discriminatory because the reference is obsolete. The proposed 
changes would result in the removal of obsolete text from the Company 
Guide and therefore add greater clarity to the Company Guide regarding 
halts in trading.
    The Exchange believes that the proposed re-lettering of the 
remaining subsections of Rule 123D--Equities is reasonable, equitable 
and not unfairly discriminatory because the proposed change would add 
greater clarity to the Exchange's rule book.

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 Act. The proposed change is not 
designed to address any competitive issue but rather would streamline 
functionality, eliminate an unnecessary step, and streamline forms, 
thereby reducing confusion and making the Exchange's rules easier to 
understand and navigate.

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).
---------------------------------------------------------------------------

    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) \13\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \13\ 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-NYSEMKT-2016-118 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-NYSEMKT-2016-118. 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

[[Page 95721]]

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-2016-118 and should be submitted 
on or before January 18, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-31304 Filed 12-27-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                                         Federal Register / Vol. 81, No. 249 / Wednesday, December 28, 2016 / Notices                                                    95719

                                                information that you wish to make                       and basis for, the proposed rule change                exception to Rule 122—Equities
                                                available publicly. All submissions                     and discussed any comments it received                 requirements if Floor Official
                                                should refer to File Number SR–BOX–                     on the proposed rule change. The text                  permission is obtained.6 In connection
                                                2016–59, and should be submitted on or                  of those statements may be examined at                 with trading halts, the Exchange is
                                                before January 18, 2017.                                the places specified in Item IV below.                 responsible for determining whether to
                                                  For the Commission, by the Division of                The Exchange has prepared summaries,                   halt trading in a security under Section
                                                Trading and Markets, pursuant to delegated              set forth in sections A, B, and C below,               402 of the Company Guide. Thus,
                                                authority.20                                            of the most significant parts of such                  requiring Floor Official approval before
                                                Eduardo A. Aleman,                                      statements.                                            a trading halt can be invoked is an
                                                Assistant Secretary.                                                                                           unnecessary pro forma step rather than
                                                                                                        A. Self-Regulatory Organization’s                      a substantive requirement. Moreover,
                                                [FR Doc. 2016–31307 Filed 12–27–16; 8:45 am]            Statement of the Purpose of, and the                   obtaining Floor Governor approval adds
                                                BILLING CODE 8011–01–P                                  Statutory Basis for, the Proposed Rule                 an extra manual step to the process,
                                                                                                        Change                                                 which could impede the timely
                                                SECURITIES AND EXCHANGE                                 1. Purpose                                             dissemination of a trading halt. Finally,
                                                COMMISSION                                                                                                     given market fragmentation and highly
                                                                                                           The Exchange proposes to amend
                                                                                                                                                               automated equities trading
                                                [Release No. 34–79642; File No. SR–                     Rule 123D—Equities and the Company
                                                                                                                                                               environment, the Exchange does not
                                                NYSEMKT–2016–118]                                       Guide to eliminate the requirement for
                                                                                                                                                               believe that Floor Governors, who do
                                                                                                        Floor Official 4 approval before halting
                                                                                                                                                               not have contact with the listed
                                                Self-Regulatory Organizations; NYSE                     trading in a security. The Exchange
                                                                                                                                                               company, should be in a position to
                                                MKT LLC; Notice of Filing and                           believes that in today’s trading
                                                                                                                                                               override an Exchange determination to
                                                Immediate Effectiveness of Proposed                     environment, the requirement for Floor
                                                                                                                                                               halt trading in a security. Consequently,
                                                Rule Change Amending Rule 123D—                         Official approval before halting trading
                                                                                                                                                               the Exchange proposes to delete Rule
                                                Equities and the Listed Company                         in a security is unnecessary and
                                                                                                                                                               123D(d)—Equities in its entirety as
                                                Manual                                                  duplicative of Exchange obligations to                 unnecessary and duplicative of existing
                                                                                                        assess whether to halt trading in a                    Exchange obligations specified in the
                                                December 21, 2016.                                      security under Section 402 of the NYSE
                                                   Pursuant to Section 19(b)(1) 1 of the                                                                       Company Guide.
                                                                                                        MKT Company Guide.                                        The Exchange also proposes to make
                                                Securities Exchange Act of 1934 (the                       Current Rule 123D(d)—Equities
                                                ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                                                                         a related change to Section 402 of the
                                                                                                        provides that once trading has                         Company Guide to delete a reference to
                                                notice is hereby given that on December                 commenced, trading may only be halted
                                                13, 2016, NYSE MKT LLC (the                                                                                    Rule 123D—Equities that would be
                                                                                                        with the approval of a Floor Governor                  rendered obsolete by the proposed
                                                ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with                or two Floor Officials and that an
                                                the Securities and Exchange                                                                                    deletion of Rule 123D(d)—Equities. In
                                                                                                        Executive Floor Governor, or in their                  addition, the Exchange also proposes to
                                                Commission (‘‘Commission’’) the                         absence a Senior Floor Governor, should
                                                proposed rule change as described in                                                                           make a related change to Section 404 of
                                                                                                        be consulted if it is felt that trading                the Company Guide to delete a reference
                                                Items I, II, and III below, which Items                 should be halted in a bank or brokerage
                                                have been prepared by the self-                                                                                to a consultation with trading floor
                                                                                                        stock due to a potential misperception                 officials that would be rendered
                                                regulatory organization. The                            regarding the company’s financial
                                                Commission is publishing this notice to                                                                        obsolete by the proposed deletion of
                                                                                                        viability.5 The rule further provides that             Rule 123D(d)—Equities. In addition, the
                                                solicit comments on the proposed rule                   if a listed company notifies the
                                                change from interested persons.                                                                                Exchange proposes to re-letter the
                                                                                                        Exchange in advance of publication                     remaining subsections of Rule 123D—
                                                I. Self-Regulatory Organization’s                       concerning news which might have a                     Equities to account for the deletion of
                                                Statement of the Terms of Substance of                  substantial market impact, the Exchange                Rule 123D(d)—Equities.
                                                the Proposed Rule Change                                should advise an Executive Floor                          The Exchange proposes to make a
                                                                                                        Governor or Floor Governor, or in their                related change to eliminate the
                                                   The Exchange proposes to amend
                                                                                                        absence, a Floor Official, and specifies               requirement in Rule 123D(e)—Equities
                                                Rule 123D—Equities and the Listed
                                                                                                        procedures for Floor Governors to                      that an ‘‘Equipment Changeover’’ halt in
                                                Company Manual to eliminate the
                                                                                                        overrule the Exchange’s determination                  trading requires the approval of a Floor
                                                requirement for Floor Official approval
                                                                                                        that a security should be halted.                      Governor or two Floor Officials as such
                                                for halts in trading. The proposed rule                    Commensurate with the evolution of
                                                change is available on the Exchange’s                                                                          approval is no longer necessary. An
                                                                                                        the equities markets and trading on the                Equipment Changeover halt is a non-
                                                Web site at www.nyse.com, at the                        Exchange towards more automated
                                                principal office of the Exchange, and at                                                                       regulatory halt condition that only halts
                                                                                                        processes, the procedures and situations               trading on the Exchange. The Exchange
                                                the Commission’s Public Reference                       requiring approvals by Floor Officials
                                                Room.                                                                                                          believes that if circumstances arise
                                                                                                        have also evolved. For example, the                    warranting an Equipment Changeover
                                                II. Self-Regulatory Organization’s                      Exchange previously eliminated the                     halt, obtaining Floor Official approval
                                                Statement of the Purpose of, and                        ability of a Floor broker to seek an                   before halting trading adds an
                                                Statutory Basis for, the Proposed Rule                                                                         unnecessary step that is no longer
                                                Change                                                    4 ‘‘Floor Official’’ encompasses Floor Governor,
                                                                                                                                                               needed in today’s automated markets.
                                                                                                        Floor Official, Executive Floor Governor and Senior
sradovich on DSK3GMQ082PROD with NOTICES




                                                   In its filing with the Commission, the               Floor Governor, as their responsibilities are
                                                                                                                                                                  Because of the procedural changes
                                                self-regulatory organization included                   currently assigned in connection with trading halts.   associated with the proposed rule
                                                statements concerning the purpose of,                   See also Rules 46—Equities and 46A—Equities
                                                                                                        defining Floor Governor, Floor Official, and             6 See also Securities Exchange Act Release No.
                                                                                                        Executive Floor Governor.                              67346 (July 3, 2012), 77 FR 40671 (July 10, 2012)
                                                  20 17 CFR 200.30–3(a)(12).                              5 See Rules 46—Equities and 46A—Equities             (SR–NYSEMKT–2012–15) (notice of filing and
                                                  1 15 U.S.C. 78s(b)(1).
                                                                                                        (defining the terms Floor Official, Senior Floor       immediate effectiveness of proposed rule change
                                                  2 15 U.S.C. 78a.
                                                                                                        Official, Executive Floor Official, Floor Governor,    amending certain Exchange rules related to floor
                                                  3 17 CFR 240.19b–4.                                   and Executive Floor Governor).                         official duties and responsibilities).



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                                                95720                        Federal Register / Vol. 81, No. 249 / Wednesday, December 28, 2016 / Notices

                                                changes, the Exchange proposes to                            The Exchange believes that the                      it appears to the Commission that such
                                                announce the eliminations via Trader                       proposed re-lettering of the remaining                action is necessary or appropriate in the
                                                Update and anticipates implementing                        subsections of Rule 123D—Equities is                  public interest, for the protection of
                                                the changes in the first quarter of 2017.                  reasonable, equitable and not unfairly                investors, or otherwise in furtherance of
                                                                                                           discriminatory because the proposed                   the purposes of the Act. If the
                                                2. Statutory Basis
                                                                                                           change would add greater clarity to the               Commission takes such action, the
                                                   The proposed rule changes are                           Exchange’s rule book.                                 Commission shall institute proceedings
                                                consistent with Section 6(b) 7 of the Act,                                                                       under Section 19(b)(2)(B) 13 of the Act to
                                                in general, and furthers the objectives of                 B. Self-Regulatory Organization’s                     determine whether the proposed rule
                                                Section 6(b)(5),8 in particular, in that                   Statement on Burden on Competition                    change should be approved or
                                                they are designed to prevent fraudulent                       The Exchange does not believe that                 disapproved.
                                                and manipulative acts and practices, to                    the proposed rule change will impose
                                                promote just and equitable principles of                                                                         IV. Solicitation of Comments
                                                                                                           any burden on competition that is not
                                                trade, to foster cooperation and                           necessary or appropriate in furtherance                 Interested persons are invited to
                                                coordination with persons engaged in                       of the purposes of the Act. The                       submit written data, views, and
                                                facilitating transactions in securities,                   proposed change is not designed to                    arguments concerning the foregoing,
                                                and to remove impediments to and                           address any competitive issue but rather              including whether the proposed rule
                                                perfect the mechanism of a free and                        would streamline functionality,                       change is consistent with the Act.
                                                open market and a national market                          eliminate an unnecessary step, and                    Comments may be submitted by any of
                                                system.                                                    streamline forms, thereby reducing                    the following methods:
                                                   The Exchange believes that the                          confusion and making the Exchange’s
                                                proposed rule changes support the                                                                                Electronic Comments
                                                                                                           rules easier to understand and navigate.
                                                objectives of the Act by amending duties                                                                            • Use the Commission’s Internet
                                                and responsibilities once assigned to                      C. Self-Regulatory Organization’s                     comment form (http://www.sec.gov/
                                                Floor Officials to better comport with                     Statement on Comments on the                          rules/sro.shtml); or
                                                the Exchange’s current regulatory                          Proposed Rule Change Received From                       • Send an email to rule-comments@
                                                structure and to reflect the changing                      Members, Participants, or Others                      sec.gov. Please include File Number SR–
                                                technology and development of its                            No written comments were solicited                  NYSEMKT–2016–118 on the subject
                                                automated systems. Specifically,                           or received with respect to the proposed              line.
                                                eliminating the unnecessary step of                        rule change.                                          Paper Comments
                                                obtaining Floor Official approval in
                                                connection with trading halts would                        III. Date of Effectiveness of the                        • Send paper comments in triplicate
                                                remove impediments to and perfect a                        Proposed Rule Change and Timing for                   to Brent J. Fields, Secretary, Securities
                                                national market system by streamlining                     Commission Action                                     and Exchange Commission, 100 F Street
                                                and simplifying functionality and                                                                                NE., Washington, DC 20549–1090.
                                                                                                              The Exchange has filed the proposed
                                                complexity in connection with trading                      rule change pursuant to Section                       All submissions should refer to File
                                                halts. The Exchange believes that                          19(b)(3)(A)(iii) of the Act 9 and Rule                Number SR–NYSEMKT–2016–118. This
                                                streamlining the procedures and                            19b–4(f)(6) thereunder.10 Because the                 file number should be included on the
                                                eliminating unnecessary Floor Official                     proposed rule change does not: (i)                    subject line if email is used. To help the
                                                approval requirements would be                             Significantly affect the protection of                Commission process and review your
                                                consistent with the public interest and                    investors or the public interest; (ii)                comments more efficiently, please use
                                                the protection of investors because                        impose any significant burden on                      only one method. The Commission will
                                                investors will not be harmed and in fact                   competition; and (iii) become operative               post all comments on the Commission’s
                                                would benefit from the removal of                          prior to 30 days from the date on which               Internet Web site (http://www.sec.gov/
                                                unnecessary functionality. The                             it was filed, or such shorter time as the             rules/sro.shtml). Copies of the
                                                Exchange also believes that eliminating                    Commission may designate, if                          submission, all subsequent
                                                Floor Official approval would benefit                      consistent with the protection of                     amendments, all written statements
                                                investors by adding transparency and                       investors and the public interest, the                with respect to the proposed rule
                                                clarity to the Exchange’s rules.                           proposed rule change has become                       change that are filed with the
                                                   The Exchange believes that the                          effective pursuant to Section 19(b)(3)(A)             Commission, and all written
                                                proposed deletion of the reference to                      of the Act and Rule 19b–4(f)(6)(iii)                  communications relating to the
                                                Rule 123D—Equities in Section 402 of                       thereunder.                                           proposed rule change between the
                                                the Company Guide is reasonable,                              A proposed rule change filed under                 Commission and any person, other than
                                                equitable and not unfairly                                 Rule 19b–4(f)(6) 11 normally does not                 those that may be withheld from the
                                                discriminatory because the reference is                    become operative prior to 30 days after               public in accordance with the
                                                obsolete. The Exchange believes that the                   the date of the filing. However, pursuant             provisions of 5 U.S.C. 552, will be
                                                proposed deletion of the reference to a                    to Rule 19b4(f)(6)(iii),12 the Commission             available for Web site viewing and
                                                consultation with trading floor officials                  may designate a shorter time if such                  printing in the Commission’s Public
                                                in Section 404 of the Company Guide is                     action is consistent with the protection              Reference Room, 100 F Street NE.,
                                                reasonable, equitable and not unfairly                     of investors and the public interest.                 Washington, DC 20549 on official
                                                discriminatory because the reference is                       At any time within 60 days of the                  business days between the hours of
sradovich on DSK3GMQ082PROD with NOTICES




                                                obsolete. The proposed changes would                       filing of such proposed rule change, the              10:00 a.m. and 3:00 p.m. Copies of the
                                                result in the removal of obsolete text                     Commission summarily may                              filing also will be available for
                                                from the Company Guide and therefore                       temporarily suspend such rule change if               inspection and copying at the principal
                                                add greater clarity to the Company                                                                               office of the Exchange. All comments
                                                Guide regarding halts in trading.                            9 15 U.S.C. 78s(b)(3)(A)(iii).                      received will be posted without change;
                                                                                                             10 17 CFR 240.19b–4(f)(6).                          the Commission does not edit personal
                                                  7 15   U.S.C. 78f(b).                                      11 17 CFR 240.19b–4(f)(6).
                                                  8 15   U.S.C. 78f(b)(5).                                   12 17 CFR 240.19b–4(f)(6)(iii).                       13 15   U.S.C. 78s(b)(2)(B).



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                                                                           Federal Register / Vol. 81, No. 249 / Wednesday, December 28, 2016 / Notices                                                95721

                                                identifying information from                              in the Office of the Legal Adviser, U.S.              Department of State, L/PD, SA–5, Suite
                                                submissions. You should submit only                       Department of State (telephone: 202–                  5H03, Washington, DC 20522–0505.
                                                information that you wish to make                         632–6471; email: section2459@                         Mark Taplin,
                                                available publicly. All submissions                       state.gov). The mailing address is U.S.
                                                should refer to File Number SR–                                                                                 Principal Deputy Assistant Secretary, Bureau
                                                                                                          Department of State, L/PD, SA–5, Suite                of Educational and Cultural Affairs,
                                                NYSEMKT–2016–118 and should be                            5H03, Washington, DC 20522–0505.                      Department of State.
                                                submitted on or before January 18, 2017.
                                                                                                          Mark Taplin,                                          [FR Doc. 2016–31320 Filed 12–27–16; 8:45 am]
                                                  For the Commission, by the Division of                                                                        BILLING CODE 4710–05–P
                                                Trading and Markets, pursuant to delegated                Principal Deputy Assistant Secretary, Bureau
                                                authority.14                                              of Educational and Cultural Affairs,
                                                Eduardo A. Aleman,                                        Department of State.
                                                                                                                                                                DEPARTMENT OF STATE
                                                Assistant Secretary.                                      [FR Doc. 2016–31321 Filed 12–27–16; 8:45 am]
                                                [FR Doc. 2016–31304 Filed 12–27–16; 8:45 am]              BILLING CODE 4710–05–P                                [Public Notice: 9830]
                                                BILLING CODE 8011–01–P
                                                                                                                                                                Notice of Determinations; Culturally
                                                                                                          DEPARTMENT OF STATE                                   Significant Objects Imported for
                                                                                                                                                                Exhibition Determinations: ‘‘Thomas
                                                DEPARTMENT OF STATE                                                                                             Annan: Photographer of Glasgow’’
                                                                                                          [Public Notice: 9831]
                                                [Public Notice: 9832]                                                                                           Exhibition
                                                                                                          Notice of Determinations; Culturally                  SUMMARY:    Notice is hereby given of the
                                                Notice of Determinations; Culturally
                                                Significant Objects Imported for                          Significant Objects Imported for                      following determinations: Pursuant to
                                                Exhibition Determinations: ‘‘East of the                  Exhibition Determinations: ‘‘Lygia                    the authority vested in me by the Act of
                                                Mississippi: Nineteenth-Century                           Pape’’ Exhibition                                     October 19, 1965 (79 Stat. 985; 22 U.S.C.
                                                American Landscape Photography’’                                                                                2459), E.O. 12047 of March 27, 1978, the
                                                Exhibition                                                SUMMARY:   Notice is hereby given of the              Foreign Affairs Reform and
                                                                                                          following determinations: Pursuant to                 Restructuring Act of 1998 (112 Stat.
                                                SUMMARY:    Notice is hereby given of the                 the authority vested in me by the Act of              2681, et seq.; 22 U.S.C. 6501 note, et
                                                following determinations: Pursuant to                     October 19, 1965 (79 Stat. 985; 22 U.S.C.             seq.), Delegation of Authority No. 234 of
                                                the authority vested in me by the Act of                  2459), E.O. 12047 of March 27, 1978, the              October 1, 1999, Delegation of Authority
                                                October 19, 1965 (79 Stat. 985; 22 U.S.C.                 Foreign Affairs Reform and                            No. 236–3 of August 28, 2000 (and, as
                                                2459), E.O. 12047 of March 27, 1978, the                  Restructuring Act of 1998 (112 Stat.                  appropriate, Delegation of Authority No.
                                                Foreign Affairs Reform and                                2681, et seq.; 22 U.S.C. 6501 note, et                257 of April 15, 2003), I hereby
                                                Restructuring Act of 1998 (112 Stat.                      seq.), Delegation of Authority No. 234 of             determine that the objects to be
                                                2681, et seq.; 22 U.S.C. 6501 note, et                    October 1, 1999, Delegation of Authority              included in the exhibition ‘‘Thomas
                                                seq.), Delegation of Authority No. 234 of                                                                       Annan: Photographer of Glasgow,’’
                                                                                                          No. 236–3 of August 28, 2000 (and, as
                                                October 1, 1999, Delegation of Authority                                                                        imported from abroad for temporary
                                                                                                          appropriate, Delegation of Authority No.
                                                No. 236–3 of August 28, 2000 (and, as                                                                           exhibition within the United States, are
                                                                                                          257 of April 15, 2003), I hereby
                                                appropriate, Delegation of Authority No.                                                                        of cultural significance. The objects are
                                                257 of April 15, 2003), I hereby                          determine that the objects to be
                                                                                                          included in the exhibition ‘‘Lygia                    imported pursuant to loan agreements
                                                determine that the objects to be                                                                                with the foreign owners or custodians.
                                                included in the exhibition ‘‘East of the                  Pape,’’ imported from abroad for
                                                                                                          temporary exhibition within the United                I also determine that the exhibition or
                                                Mississippi: Nineteenth-Century                                                                                 display of the exhibit objects at the J.
                                                American Landscape Photography,’’                         States, are of cultural significance. The
                                                                                                                                                                Paul Getty Museum at the Getty Center,
                                                imported from abroad for temporary                        objects are imported pursuant to loan
                                                                                                                                                                Los Angeles, California, from on or
                                                exhibition within the United States, are                  agreements with the foreign owners or                 about May 23, 2017, until on or about
                                                of cultural significance. The objects are                 custodians. I also determine that the                 August 13, 2017, and at possible
                                                imported pursuant to loan agreements                      exhibition or display of the exhibit                  additional exhibitions or venues yet to
                                                with the foreign owners or custodians.                    objects at The Metropolitan Museum of                 be determined, is in the national
                                                I also determine that the exhibition or                   Art, New York, New York, from on or                   interest. I have ordered that Public
                                                display of the exhibit objects at the                     about March 21, 2017, until on or about               Notice of these Determinations be
                                                National Gallery of Art, Washington,                      July 23, 2017, and at possible additional             published in the Federal Register.
                                                District of Columbia, from on or about                    exhibitions or venues yet to be                       FOR FURTHER INFORMATION CONTACT: For
                                                March 12, 2017, until on or about July                    determined, is in the national interest.              further information, including a list of
                                                16, 2017, and at the New Orleans                          I have ordered that Public Notice of                  the imported objects, contact the Office
                                                Museum of Art, New Orleans,                               these Determinations be published in                  of Public Diplomacy and Public Affairs
                                                Louisiana, from on or about October 5,                    the Federal Register.                                 in the Office of the Legal Adviser, U.S.
                                                2017, until on or about January 7, 2018,
                                                                                                          FOR FURTHER INFORMATION CONTACT:     For              Department of State (telephone: 202–
                                                and at possible additional exhibitions or
                                                                                                          further information, including a list of              632–6471; email: section2459@
                                                venues yet to be determined, is in the
                                                                                                          the imported objects, contact the Office              state.gov). The mailing address is U.S.
                                                national interest. I have ordered that
                                                                                                          of Public Diplomacy and Public Affairs                Department of State, L/PD, SA–5, Suite
                                                Public Notice of these Determinations
sradovich on DSK3GMQ082PROD with NOTICES




                                                                                                                                                                5H03, Washington, DC 20522–0505.
                                                be published in the Federal Register.                     in the Office of the Legal Adviser, U.S.
                                                FOR FURTHER INFORMATION CONTACT: For                      Department of State (telephone: 202–                  Mark Taplin,
                                                further information, including a list of                  632–6471; email: section2459@                         Principal Deputy Assistant Secretary, Bureau
                                                the imported objects, contact the Office                  state.gov). The mailing address is U.S.               of Educational and Cultural Affairs,
                                                of Public Diplomacy and Public Affairs                                                                          Department of State.
                                                                                                                                                                [FR Doc. 2016–31319 Filed 12–27–16; 8:45 am]
                                                  14 17   CFR 200.30–3(a)(12).                                                                                  BILLING CODE 4710–05–P




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Document Created: 2016-12-28 02:16:47
Document Modified: 2016-12-28 02:16:47
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 95719 

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