81 FR 96074 - Self-Regulatory Organizations: Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Retention of Jurisdiction Over Members and Persons Associated with Members Upon Termination, Revocation, or Cancellation of Membership or Association Thereof
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 250 (December 29, 2016)
Federal Register Volume 81, Issue 250 (December 29, 2016)
| Page Range | 96074-96076 | |
| FR Document | 2016-31492 |
[Federal Register Volume 81, Number 250 (Thursday, December 29, 2016)] [Notices] [Pages 96074-96076] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-31492] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79670; File No. SR-IEX-2016-22] Self-Regulatory Organizations: Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Retention of Jurisdiction Over Members and Persons Associated with Members Upon Termination, Revocation, or Cancellation of Membership or Association Thereof December 22, 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 16, 2016, the Investors Exchange LLC (``IEX'' or the ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self- regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \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 Pursuant to the provisions of Section 19(b)(1) under the Securities Exchange Act of 1934 (``Act''),\4\ and Rule 19b-4 thereunder,\5\ Investors Exchange LLC (``IEX'' or ``Exchange'') is filing with the Securities and Exchange Commission (``Commission'') a proposed rule change to amend Rule 2.230, which is currently reserved, to specify the circumstances under which the Exchange retains disciplinary jurisdiction over a Member or persons associated with a Member upon termination, revocation, or cancellation of membership or association thereof. The Exchange has designated this proposal as ``non- controversial'' and provided the Commission with the notice required by Rule 19b-4(f)(6)(iii) under the Act.\6\ --------------------------------------------------------------------------- \4\ 15 U.S.C. 78s(b)(1). \5\ 17 CRF 240.19b-4. \6\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.iextrading.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 the 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 these statements may be examined at the places specified in Item IV below. The self-regulatory organization has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose IEX proposes to amend Rule 2.230, which is currently reserved, to specify the circumstances under which the Exchange retains disciplinary jurisdiction over a Member or persons associated with a Member upon termination, revocation or cancellation of membership or association thereof. As a national securities exchange and self-regulatory organization (``SRO''), IEX is subject to several provisions of the Act with respect to rule enforcement and discipline of Members and persons associated with Members. First, Section 6(b)(1) \7\ of the Act requires the Exchange to enforce compliance by its members and persons associated with its members with applicable provisions of the Act, the rules and regulations thereunder and Exchange rules. In addition, Section 6(b)(6) \8\ of the Act requires that IEX rules must provide that its members and persons associated with its members shall be appropriately disciplined for such violations of applicable provisions of the Act, the rules and regulations thereunder and Exchange rules (i.e., rule violations). And finally, Section 6(b)(7) \9\ of the Act provides that IEX rules must provide a fair procedure for the disciplining of [[Page 96075]] members and persons associated with members for rule violations. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b)(1). \8\ 15 U.S.C. 78f(b)(6). \9\ 15 U.S.C. 78f(b)(7). --------------------------------------------------------------------------- In furtherance of these obligations, IEX has retained FINRA, pursuant to a regulatory services agreement (``RSA'') and subject to IEX oversight, to perform certain regulatory functions on behalf of IEX, including surveillance and examination of trading activity on IEX to identify rule violations, and related investigations of and disciplinary actions against IEX members and persons associated with members for any such rule violations. Investigations and disciplinary actions are conducted in accordance with Chapters 8 and 9 of the IEX Rules. Chapter 8 contains provisions related to investigations and sanctions, that require, among other things, that a Member, person associated with a Member or any other person subject to IEX's jurisdiction provide information or testimony or permit an inspection and copying of books, records, or accounts to the Exchange upon request.\10\ Rule 8.310 provides for the imposition of sanctions,\11\ after compliance with Chapter 9 of IEX Rules, on a Member or person associated with a Member for rule violations, as well as for any neglect or refusal to comply with an order, direction, or decision issued under the IEX Rules. Chapter 9 of the IEX Rules contains the Code of Procedure and includes proceedings for, among other things, disciplining a Member or person associated with a Member. --------------------------------------------------------------------------- \10\ See Rule 8.210. \11\ Specified sanctions include censure, fine, membership suspension or expulsion, cease and desist order, or other fitting sanction. --------------------------------------------------------------------------- IEX Rule 2.190 governs a member's right to voluntarily terminate its IEX membership. The rule provides that a termination shall not take effect until 30 days after certain specified conditions have been satisfied, including: any Exchange investigation or disciplinary action brought against the Member has reached a final disposition and any examination by the Exchange of such Member is completed and all exceptions noted have been reasonably resolved.\12\ These provisions are designed to assure that FINRA, on IEX's behalf, can complete and resolve or finalize a pending regulatory matter involving a Member that is open at the time a Member seeks to terminate its membership and thus that a Member cannot terminate its membership to avoid a regulatory or disciplinary matter. --------------------------------------------------------------------------- \12\ Rule 2.190 provides that the Exchange Board may declare a resignation effective at an earlier time. --------------------------------------------------------------------------- However, IEX Rule 2.190 does not fully address the possibility that FINRA, on behalf of the Exchange, may need to conduct an investigation and/or initiate a disciplinary action with respect to a former Member or person associated with a Member for rule violations that occurred prior to termination of membership or association thereof, but were not known to FINRA at that time. Accordingly, IEX proposes to amend Rule 2.230 to add a retention of jurisdiction provision. Specifically, Rule 2.230(a) would provide that an IEX Member whose membership is revoked, terminated or cancelled shall continue to be subject to the filing of a complaint under IEX rules based upon conduct which commenced prior to the effective date of the revocation, termination or cancellation. Any such complaint, however, shall be filed within two years after the effective date of revocation, termination or cancellation. Proposed Rule 2.230(b) applies to persons associated with a Member and provides that a person whose association with a Member has been revoked, terminated or cancelled and who is no longer associated with any Member shall continue to be subject to the filing of a complaint under IEX rules based upon conduct that commenced prior to the termination, revocation or cancellation or upon such person's failure, while subject to IEX's jurisdiction to provide information requested by IEX pursuant to IEX rules. Any such complaint must be filed within: two years after the effective date of termination of registration with IEX pursuant to Rule 2.160(r)(1), provided however that any amendment to a notice of termination filed pursuant to Rule 2.160(r)(2) that is filed within two years of the original notice that discloses that such person may have engaged in conduct actionable under any applicable statute, rule, or regulation shall operate to recommence the running of the two-year period under this subsection; two years after the effective date of revocation or cancellation of registration pursuant to IEX rules; or in the case of an unregistered person, two years after the date upon which such person ceased to be associated with the member. This proposed rule change is substantially similar to Article IV, Section 6 of the FINRA By-Laws with respect to members and Article V, Section 4 with respect to persons associated with a member.\13\ --------------------------------------------------------------------------- \13\ There are minor differences related to terminology. In addition, provisions substantially similar to Article V, Section 4(b) of the FINRA By-Laws related to failure to comply with an arbitration award are contained in IEX Rule 9.554(a). --------------------------------------------------------------------------- 2. Statutory Basis IEX believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,\14\ in general and furthers the objectives of Section 6(b)(1) \15\ of the Act in that it is designed to enable the Exchange to enforce compliance by its members and persons associated with its members with applicable provisions of the Act, the rules and regulations thereunder and Exchange rules. In addition, the Exchange believes that the proposed rule change is consistent with Section 6(b)(6) \16\ of the Act in that it is designed to provide authority to the Exchange to appropriately discipline former members and persons associated with its members for such rule violations that occurred during membership or association with a member. Further, the Exchange believes that the proposed rule change is consistent with Section 6(b)(7) \17\ of the Act because it would support a fair procedure for the disciplining of members and persons associated with members for rule violations. Specifically, IEX believes that it is appropriate to retain jurisdiction over members and persons associated with members for a reasonable period of time for rule violations that occurred while the firm was a Member or an individual was associated with a member. IEX believes that two years is reasonable in that it provides adequate time for FINRA, on its behalf, to file a complaint without subjecting former members and persons formerly associated with members to an excessively long period of time to learn of a disciplinary matter. The Exchange notes that FINRA, New York Stock Exchange (``NYSE'') and the Nasdaq Stock Market LLC (``Nasdaq'') also provide a two-year retention of jurisdiction period.\18\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f. \15\ 15 U.S.C. 78f(b)(1). \16\ 15 U.S.C. 78f(b)(6). \17\ 15 U.S.C. 78f(b)(7). \18\ See Article IV, Section 6 of the FINRA By-Laws, NYSE Rule 8130, and Nasdaq Rule 1031(f). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition IEX does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. The proposed rule change is not designed to address any competitive issues but rather to provide for appropriate retention of jurisdiction of former members and persons associated with a member. [[Page 96076]] C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has designated this rule filing as non-controversial under Section 19(b)(3)(A) \19\ of the Act and Rule 19b-4(f)(6) \20\ thereunder. Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b- 4(f)(6) thereunder. --------------------------------------------------------------------------- \19\ 15 U.S.C. 78s(b)(3)(A). \20\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \21\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\22\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay as the proposed implementation of the two-year retention of jurisdiction is consistent with the rules of other SROs and will enable the Exchange to immediately retain jurisdiction over a register representative who may have been engaged in unlawful activity. Based on the foregoing, the Commission believes that it is consistent with the protection of investors and the public interest to waive the 30-day operative date so that the proposal may take effect upon filing.\23\ --------------------------------------------------------------------------- \21\ 17 CFR 240.19b-4(f)(6). \22\ 17 CFR 240.19b-4(f)(6)(iii). \23\ For purposes only of waiving the 30-day operative delay, 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 the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) \24\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \24\ 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 CommentsUse 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-IEX-2016-22 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-IEX-2016-22. This file number should be included in 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 Section, 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 will also be available for inspection and copying at the IEX's principal office and on its Internet Web site at www.iextrading.com. 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-IEX-2016-22 and should be submitted on or before January 19, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\25\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \25\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2016-31492 Filed 12-28-16; 8:45 am] BILLING CODE 8011-01-P
![96074 Federal Register / Vol. 81, No. 250 / Thursday, December 29, 2016 / Notices
the self-regulatory organization ISEGemini–2016–18, and should be controversial’’ and provided the
consents, the Commission will: submitted on or before January 19, 2017. Commission with the notice required by
(A) By order approve or disapprove For the Commission, by the Division of Rule 19b–4(f)(6)(iii) under the Act.6
such proposed rule change, or Trading and Markets, pursuant to delegated The text of the proposed rule change
authority.53 is available at the Exchange’s Web site
(B) institute proceedings to determine
Eduardo A. Aleman, at www.iextrading.com, at the principal
whether the proposed rule change
should be disapproved. Assistant Secretary. office of the Exchange, and at the
[FR Doc. 2016–31491 Filed 12–28–16; 8:45 am] Commission’s Public Reference Room.
IV. Solicitation of Comments BILLING CODE 8011–01–P
II. Self-Regulatory Organization’s
Interested persons are invited to Statement of the Purpose of, and the
submit written data, views, and SECURITIES AND EXCHANGE Statutory Basis for, the Proposed Rule
arguments concerning the foregoing, COMMISSION Change
including whether the proposed rule
change is consistent with the Act. [Release No. 34–79670; File No. SR–IEX– In its filing with the Commission, the
Comments may be submitted by any of 2016–22] self-regulatory organization included
the following methods: statements concerning the purpose of
Self-Regulatory Organizations: and basis for the proposed rule change
Electronic Comments Investors Exchange LLC; Notice of and discussed any comments it received
Filing and Immediate Effectiveness of on the proposed rule change. The text
• Use the Commission’s Internet Proposed Rule Change Related to
comment form (http://www.sec.gov/ of these statements may be examined at
Retention of Jurisdiction Over the places specified in Item IV below.
rules/sro.shtml); or Members and Persons Associated with The self-regulatory organization has
• Send an email to rule-comments@ Members Upon Termination, prepared summaries, set forth in
sec.gov. Please include File Number SR– Revocation, or Cancellation of Sections A, B, and C below, of the most
ISEGemini–2016–18 on the subject line. Membership or Association Thereof significant aspects of such statements.
Paper Comments December 22, 2016. A. Self-Regulatory Organization’s
Pursuant to Section 19(b)(1) 1 of the Statement of the Purpose of, and the
• Send paper comments in triplicate
Securities Exchange Act of 1934 (the Statutory Basis for, the Proposed Rule
to Secretary, Securities and Exchange
‘‘Act’’) 2 and Rule 19b-4 thereunder,3 Change
Commission, 100 F Street NE.,
notice is hereby given that, on December
Washington, DC 20549–1090. 1. Purpose
16, 2016, the Investors Exchange LLC
All submissions should refer to File (‘‘IEX’’ or the ‘‘Exchange’’) filed with the
Number SR–ISEGemini–2016–18. This IEX proposes to amend Rule 2.230,
Securities and Exchange Commission
file number should be included on the which is currently reserved, to specify
(‘‘SEC’’ or the ‘‘Commission’’) the
subject line if email is used. the circumstances under which the
proposed rule change as described in
Exchange retains disciplinary
To help the Commission process and Items I and II below, which Items have
jurisdiction over a Member or persons
review your comments more efficiently, been prepared by the self-regulatory
associated with a Member upon
please use only one method. The organization. The Commission is
termination, revocation or cancellation
Commission will post all comments on publishing this notice to solicit
of membership or association thereof.
the Commission’s Internet Web site comments on the proposed rule change
As a national securities exchange and
(http://www.sec.gov/rules/sro.shtml). from interested persons.
self-regulatory organization (‘‘SRO’’),
Copies of the submission, all subsequent I. Self-Regulatory Organization’s IEX is subject to several provisions of
amendments, all written statements Statement of the Terms of Substance of the Act with respect to rule enforcement
with respect to the proposed rule the Proposed Rule Change and discipline of Members and persons
change that are filed with the associated with Members. First, Section
Commission, and all written Pursuant to the provisions of Section
19(b)(1) under the Securities Exchange 6(b)(1) 7 of the Act requires the
communications relating to the Exchange to enforce compliance by its
proposed rule change between the Act of 1934 (‘‘Act’’),4 and Rule 19b-4
thereunder,5 Investors Exchange LLC members and persons associated with
Commission and any person, other than its members with applicable provisions
those that may be withheld from the (‘‘IEX’’ or ‘‘Exchange’’) is filing with the
Securities and Exchange Commission of the Act, the rules and regulations
public in accordance with the thereunder and Exchange rules. In
provisions of 5 U.S.C. 552, will be (‘‘Commission’’) a proposed rule change
to amend Rule 2.230, which is currently addition, Section 6(b)(6) 8 of the Act
available for Web site viewing and requires that IEX rules must provide
printing in the Commission’s Public reserved, to specify the circumstances
under which the Exchange retains that its members and persons associated
Reference Room on official business with its members shall be appropriately
days between the hours of 10:00 a.m. disciplinary jurisdiction over a Member
or persons associated with a Member disciplined for such violations of
and 3:00 p.m. Copies of such filing also applicable provisions of the Act, the
will be available for inspection and upon termination, revocation, or
cancellation of membership or rules and regulations thereunder and
copying at the principal offices of the
asabaliauskas on DSK3SPTVN1PROD with NOTICES
association thereof. The Exchange has Exchange rules (i.e., rule violations).
Exchange. All comments received will And finally, Section 6(b)(7) 9 of the Act
be posted without change; the designated this proposal as ‘‘non-
provides that IEX rules must provide a
Commission does not edit personal fair procedure for the disciplining of
53 17 CFR 200.30–3(a)(12).
identifying information from 1 15 U.S.C. 78s(b)(1).
submissions. You should submit only 2 15 U.S.C. 78a. 6 17 CFR 240.19b–4(f)(6)(iii).
information that you wish to make 3 17 CFR 240.19b–4. 7 15 U.S.C. 78f(b)(1).
available publicly. All submissions 4 15 U.S.C. 78s(b)(1). 8 15 U.S.C. 78f(b)(6).
should refer to File Number SR– 5 17 CRF 240.19b–4. 9 15 U.S.C. 78f(b)(7).
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![96076 Federal Register / Vol. 81, No. 250 / Thursday, December 29, 2016 / Notices
C. Self-Regulatory Organization’s under Section 19(b)(2)(B) 24 of the Act to be submitted on or before January 19,
Statement on Comments on the determine whether the proposed rule 2017.
Proposed Rule Change Received From change should be approved or For the Commission, by the Division of
Members, Participants, or Others disapproved. Trading and Markets, pursuant to delegated
Written comments were neither authority.25
IV. Solicitation of Comments
solicited nor received. Robert W. Errett,
Interested persons are invited to Deputy Secretary.
III. Date of Effectiveness of the submit written data, views and
[FR Doc. 2016–31492 Filed 12–28–16; 8:45 am]
Proposed Rule Change and Timing for arguments concerning the foregoing,
BILLING CODE 8011–01–P
Commission Action including whether the proposed rule
The Exchange has designated this rule change is consistent with the Act.
filing as non-controversial under Comments may be submitted by any of SECURITIES AND EXCHANGE
Section 19(b)(3)(A) 19 of the Act and the following methods: COMMISSION
Rule 19b–4(f)(6) 20 thereunder. Because Electronic Comments
the proposed rule change does not: (i) [Release No. 34–79659; File No. SR–NYSE–
Significantly affect the protection of • Use the Commission’s Internet 2016–87]
investors or the public interest; (ii) comment form (http://www.sec.gov/
rules/sro.shtml); or Self-Regulatory Organizations; New
impose any significant burden on
competition; and (iii) become operative • Send an email to rule-comments@ York Stock Exchange LLC; Notice of
sec.gov. Please include File Number SR– Filing of Proposed Rule Change To
for 30 days from the date on which it
IEX–2016–22 on the subject line. Conform to Proposed Amendments to
was filed, or such shorter time as the
Securities Exchange Act Rule 15c6–
Commission may designate, it has Paper Comments 1(a) To Shorten the Standard
become effective pursuant to Section
19(b)(3)(A) of the Act and Rule 19b– • Send paper comments in triplicate Settlement Cycle From Three Business
to Brent J. Fields, Secretary, Securities Days After the Trade Date (‘‘T+3’’) to
4(f)(6) thereunder.
and Exchange Commission, 100 F Street Two Business Days After the Trade
A proposed rule change filed under
NE., Washington, DC 20549–1090. Date (‘‘T+2’’)
Rule 19b–4(f)(6) 21 normally does not
become operative prior to 30 days after All submissions should refer to File December 22, 2016.
the date of the filing. However, pursuant Number SR–IEX–2016–22. This file Pursuant to Section 19(b)(1) 1 of the
to Rule 19b–4(f)(6)(iii),22 the number should be included in the Securities Exchange Act of 1934 (the
Commission may designate a shorter subject line if email is used. To help the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
time if such action is consistent with the Commission process and review your notice is hereby given that, on December
protection of investors and the public comments more efficiently, please use 15, 2016, New York Stock Exchange
interest. The Exchange has asked the only one method. The Commission will LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
Commission to waive the 30-day post all comments on the Commission’s with the Securities and Exchange
operative delay as the proposed Internet Web site (http://www.sec.gov/ Commission (the ‘‘Commission’’) the
implementation of the two-year rules/sro.shtml). Copies of the proposed rule change as described in
retention of jurisdiction is consistent submission, all subsequent Items I and II below, which Items have
with the rules of other SROs and will amendments, all written statements been prepared by the self-regulatory
enable the Exchange to immediately with respect to the proposed rule organization. The Commission is
retain jurisdiction over a register change that are filed with the publishing this notice to solicit
representative who may have been Commission, and all written comments on the proposed rule change
engaged in unlawful activity. Based on communications relating to the from interested persons.
the foregoing, the Commission believes proposed rule change between the
that it is consistent with the protection Commission and any person, other than I. Self-Regulatory Organization’s
of investors and the public interest to those that may be withheld from the Statement of the Terms of Substance of
waive the 30-day operative date so that public in accordance with the the Proposed Rule Change
the proposal may take effect upon provisions of 5 U.S.C. 552, will be The Exchange proposes new Rules
filing.23 available for Web site viewing and 14T, Dealings and SettlementsT (Rules
At any time within 60 days of the printing in the Commission’s Public 45—299C), 64T, 235T, 236T, 282.65T
filing of the proposed rule change, the Reference Section, 100 F Street NE., and 257T, and new Section 703.02T
Commission summarily may Washington, DC 20549, on official (part 2) of the Listed Company Manual
temporarily suspend such rule change if business days between the hours of to conform to proposed amendments to
it appears to the Commission that such 10:00 a.m. and 3:00 p.m. Copies of the Securities Exchange Act Rule 15c6–1(a)
action is necessary or appropriate in the filing will also be available for to shorten the standard settlement cycle
public interest, for the protection of inspection and copying at the IEX’s from three business days after the trade
investors, or otherwise in furtherance of principal office and on its Internet Web date (‘‘T+3’’) to two business days after
the purposes of the Act. If the site at www.iextrading.com. All the trade date (‘‘T+2’’). The proposed
Commission takes such action, the comments received will be posted rule change is available on the
without change; the Commission does
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Commission shall institute proceedings Exchange’s Web site at www.nyse.com,
not edit personal identifying at the principal office of the Exchange,
19 15 U.S.C. 78s(b)(3)(A). information from submissions. You and at the Commission’s Public
20 17 CFR 240.19b–4(f)(6). should submit only information that Reference Room.
21 17 CFR 240.19b–4(f)(6).
you wish to make available publicly. All
22 17 CFR 240.19b–4(f)(6)(iii).
submissions should refer to File 25 17 CFR 200.30–3(a)(12).
23 For purposes only of waiving the 30-day
Number SR–IEX–2016–22 and should 1 15 U.S.C.78s(b)(1).
operative delay, the Commission has considered the
2 15 U.S.C. 78a.
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f). 24 15 U.S.C. 78s(b)(2)(B). 3 17 CFR 240.19b–4.
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Document Created: 2016-12-29 01:58:15
Document Modified: 2016-12-29 01:58:15
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 96074 |
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