82_FR_14323 82 FR 14272 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Data Collection Requirements in Rule 4470

82 FR 14272 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Data Collection Requirements in Rule 4470

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 51 (March 17, 2017)

Page Range14272-14274
FR Document2017-05344

Federal Register, Volume 82 Issue 51 (Friday, March 17, 2017)
[Federal Register Volume 82, Number 51 (Friday, March 17, 2017)]
[Notices]
[Pages 14272-14274]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05344]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80229; File No. SR-NASDAQ-2017-024]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend the Data Collection Requirements in Rule 4470

March 13, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on February 28, 2017, The NASDAQ Stock Market LLC (``Nasdaq'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``SEC'' or ``Commission'') the proposed rule change as described in 
Items I, and II, below, which Items have been prepared by the Exchange. 
The Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 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 4770 to modify the date of 
Appendix B Web site data publication pursuant to the Regulation NMS 
Plan to Implement a Tick Size Pilot Program (``Plan'').
    The text of the proposed rule change is available on the Exchange's 
Web site at http://nasdaq.cchwallstreet.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 Exchange 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 Exchange 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
    Rule 4770(b) (Compliance with Data Collection Requirements) \3\ 
implements the data collection and Web site publication requirements of 
the Plan.\4\ Commentary .08 to Rule 4770 provides, among other things, 
that the requirement that the Exchange make certain data publicly 
available on the Nasdaq Web site pursuant to Appendix B and C to the 
Plan shall commence at the beginning of the Pilot Period,\5\ and that 
Nasdaq shall make data for the Pre-Pilot Period publicly available on 
the Nasdaq Web site pursuant to Appendix B and C to the Plan by 
February 28, 2017.\6\
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    \3\ See Rule 4770(b). See also Securities Exchange Act Release 
No. 77456 (March 28, 2016), 81 FR 18925 (April 1, 2016) (SR-NASDAQ-
2016-043).
    \4\ The Participants filed the Plan to comply with an order 
issued by the Commission on June 24, 2014. See Letter from Brendon 
J. Weiss, Vice President, Intercontinental Exchange, Inc., to 
Secretary, Commission, dated August 25, 2014 (``SRO Tick Size Plan 
Proposal''). See Securities Exchange Act Release No 72460 (June 24, 
2014), 79 FR 36840 (June 30, 2014); see also Securities Exchange Act 
Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015).
    \5\ Unless otherwise defined herein, capitalized terms have the 
meaning ascribed to them in Rule 4770.
    \6\ On November 30, 2016, the SEC granted exemptive relief to 
the Participants to, among other things, delay the publication of 
Web site data pursuant to Appendices B and C to the Plan until 
February 28, 2017, and to delay the ongoing Web site publication by 
ninety days such that data would be published within 120 calendar 
days following the end of the month. See Letter from David S. 
Shillman, Associate Director, Division of Trading and Markets, 
Commission, to Marcia E. Asquith, Senior Vice President and 
Corporate Secretary, FINRA, dated November 30, 2016; see also 
Securities Exchange Act Release No. 79546 (December 14, 2016), 81 FR 
92932 (December 20, 2016) (SR-NASDAQ-2016-165).
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    Nasdaq is proposing amendments to Commentary .08 to Rule 4770 to 
delay the date by which Pre-Pilot and Pilot Appendix B data is to be 
made publicly available on Nasdaq's Web site from February 28, 2017, 
until April 28, 2017. Appendix C data for the Pre-Pilot Period through 
the month of January 2017 will be published on the Nasdaq Web site on 
February 28, 2017, and, thereafter, on the original 30-day schedule.\7\ 
As some of the data reporting requirements set forth in Rule 4770 
require members to report data to their Designated Examining Authority 
(``DEA''), which may not be Nasdaq, the Exchange is also proposing to 
add references in Commentary .08 to reflect the fact that the Exchange 
or the DEA may be publishing such data.
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    \7\ Since, under Rule 4770(b)(4), Nasdaq is not independently 
publishing Market Maker profitability data collected pursuant to 
Item I of Appendix C of the Plan, no corresponding change to the 
language of Rule 4770(b)(4) relating to the timing of the 
publication of Appendix C data for the Pilot Period is needed.
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    In the SRO Tick Size Plan Proposal, the Participants stated that 
the public data will be made available for free ``on a disaggregated 
basis by trading center'' on the Web sites of the Participants and the 
Designated Examining Authorities.\8\ However, market participants have 
expressed confidentiality concerns regarding this approach for over-
the-counter (``OTC'') data.\9\ Thus, Nasdaq is filing the instant 
proposed rule change to provide additional time to assess a means of 
addressing the confidentiality concerns raised in connection with the 
publication of Appendix B data related to OTC activity in furtherance 
of the objectives of the Plan.\10\ Pursuant to this amendment, Appendix 
B data publication will be delayed until April 28, 2017. The 
Participants anticipate filing additional proposed rule changes to 
address Appendix B data publication.
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    \8\ See Securities Exchange Act Release No. 73511 (November 3, 
2014), 79 FR 66423 (November 7, 2014) (Notice of Filing of Proposed 
National Market System Plan to Implement a Tick Size Pilot Program 
on a One-Year Pilot Basis, File No. 4-657) (``Tick Size Plan 
Proposal'').
    \9\ See letters from Adam C. Cooper, Senior Managing Director 
and Chief Legal Officer, Citadel Securities, to Brent J. Fields, 
Secretary, Commission, dated December 21, 2016 (``Citadel letter''); 
and William Hebert, Managing Director, Financial Information Forum, 
to Robert W. Errett, Deputy Secretary, Commission, dated December 
21, 2016 (``FIF letter'').
    \10\ In connection with its filing to implement a similar change 
in its rules, the Financial Industry Regulatory Authority, Inc. is 
also submitting an exemptive request to the SEC on behalf of all 
Plan Participants requesting relief from the relevant requirements 
of the Plan.
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    Nasdaq has filed the proposed rule change for immediate 
effectiveness. The operative date of the proposed rule change will be 
the date of filing.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\11\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\12\ in particular, in that it is designed to 
prevent fraudulent and manipulative acts and practices, promote just 
and equitable principles of trade, to remove impediments to and perfect 
the mechanism of a free and open market and a national market system, 
and, in

[[Page 14273]]

general to protect investors and the public interest. Nasdaq also 
believes that the proposal is consistent with Section 6(b)(8) of the 
Act,\13\ which requires that Exchange rules not impose any burden on 
competition that is not necessary or appropriate.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
    \13\ 15 U.S.C. 78f(b)(8).
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    The Plan is designed to allow the Commission, market participants, 
and the public to study and assess the impact of increment conventions 
on the liquidity and trading of the common stock of small-
capitalization companies. Nasdaq believes that this proposal is 
consistent with the Act because it is in furtherance of the objectives 
of Section VII(A) of the Plan in that it is designed to provide Nasdaq 
with additional time to assess a means of addressing the 
confidentiality concerns raised in connection with the publication of 
Appendix B data, to comply with the Plan's requirements that the data 
made publicly available will not identify the trading center that 
generated the data.

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 not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed rule change 
implements the provisions of the Plan.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing 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 \14\ and Rule 19b-
4(f)(6) thereunder.\15\
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    \14\ 15 U.S.C. 78s(b)(3)(A).
    \15\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does 
not become operative prior to 30 days after the date of the filing. 
However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may 
designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has filed 
the proposed rule change for immediate effectiveness and has requested 
that the Commission waive the requirement that the proposed rule change 
not become operative for 30 days after the date of the filing so that 
it may become operative on February 28, 2017.
    The Exchange notes that the proposed rule change is intended to 
address confidentiality concerns raised in connection with the 
publication of OTC Appendix B data by permitting the Exchange to delay 
Web site publication of its Appendix B data from February 28, 2017 to 
April 28, 2017.\16\ The Exchange notes that the delay would provide 
additional time to assess a means of addressing the confidentiality 
concerns. The Exchange notes that it expects Participants to file 
proposed rule changes related to publishing Appendix B data.
---------------------------------------------------------------------------

    \16\ See supra note 9. The Commission notes that FINRA has 
submitted a proposed rule change to delay the publication of OTC 
Appendix B data. See SR-FINRA-2017-005.
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    The Commission believes that waiving the 30-day operative delay is 
consistent with the protection of investors and the public interest 
because it will allow the Exchange to delay publication of its Appendix 
B data until April 28, 2017. As noted above, commenters continue to 
raise concerns about the publication of OTC Appendix B data.\17\ 
Delaying publication of Exchange's Appendix B data \18\ will prevent 
the publication of partial (i.e., Exchange-only) Appendix B data 
required under the Plan. Therefore, the Commission hereby waives the 
30-day operative delay and designates the proposed rule change to be 
operative on February 28, 2017.\19\
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    \17\ The Commission notes that FINRA has filed a proposed rule 
change that is intended to mitigate confidentiality concerns raised 
by commenters regarding the publication of OTC Appendix B data. See 
SR-FINRA-2017-006.
    \18\ The Commission notes that other Participants have proposed 
to delay the publication of their Appendix B data until April 28, 
2017. See SR-BatsBYX-2017-05; SR-BatsBZX-2017-15; SR-BatsEDGA-2017-
05; SR-BatsEDGX-2017-13; SR-BX-2017-016; SR-CHX-2017-05; SR-FINRA-
2017-005; SR-IEX-2017-07; SR-Phlx-2017-22; SR-NYSE-2017-10; SR-
NYSEArca-2017-19; SR-NYSEMKT-2017-11.
    \19\ For purposes only of waiving the operative delay for this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    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 to 
determine whether the proposed rule should be approved or disapproved.

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-NASDAQ-2017-024 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2017-024. This 
file number should be included on the subject line if email is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549, on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-NASDAQ-2017-024, and should 
be submitted on or before April 7, 2017.


[[Page 14274]]


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\20\
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    \20\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05344 Filed 3-16-17; 8:45 am]
 BILLING CODE 8011-01-P



                                                    14272                           Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices

                                                      For the Commission, by the Division of                places specified in Item IV below. The                 of the data reporting requirements set
                                                    Trading and Markets, pursuant to delegated              Exchange has prepared summaries, set                   forth in Rule 4770 require members to
                                                    authority.15                                            forth in sections A, B, and C below, of                report data to their Designated
                                                    Eduardo A. Aleman,                                      the most significant aspects of such                   Examining Authority (‘‘DEA’’), which
                                                    Assistant Secretary.                                    statements.                                            may not be Nasdaq, the Exchange is also
                                                    [FR Doc. 2017–05337 Filed 3–16–17; 8:45 am]                                                                    proposing to add references in
                                                                                                            A. Self-Regulatory Organization’s
                                                    BILLING CODE 8011–01–P                                                                                         Commentary .08 to reflect the fact that
                                                                                                            Statement of the Purpose of, and the
                                                                                                                                                                   the Exchange or the DEA may be
                                                                                                            Statutory Basis for, the Proposed Rule
                                                                                                                                                                   publishing such data.
                                                                                                            Change                                                    In the SRO Tick Size Plan Proposal,
                                                    SECURITIES AND EXCHANGE
                                                    COMMISSION                                              1. Purpose                                             the Participants stated that the public
                                                                                                               Rule 4770(b) (Compliance with Data                  data will be made available for free ‘‘on
                                                    [Release No. 34–80229; File No. SR–
                                                                                                            Collection Requirements) 3 implements                  a disaggregated basis by trading center’’
                                                    NASDAQ–2017–024]
                                                                                                            the data collection and Web site                       on the Web sites of the Participants and
                                                    Self-Regulatory Organizations; The                      publication requirements of the Plan.4                 the Designated Examining Authorities.8
                                                    NASDAQ Stock Market LLC; Notice of                      Commentary .08 to Rule 4770 provides,                  However, market participants have
                                                    Filing and Immediate Effectiveness of                   among other things, that the                           expressed confidentiality concerns
                                                    Proposed Rule Change To Amend the                       requirement that the Exchange make                     regarding this approach for over-the-
                                                    Data Collection Requirements in Rule                    certain data publicly available on the                 counter (‘‘OTC’’) data.9 Thus, Nasdaq is
                                                    4470                                                    Nasdaq Web site pursuant to Appendix                   filing the instant proposed rule change
                                                                                                            B and C to the Plan shall commence at                  to provide additional time to assess a
                                                    March 13, 2017.
                                                                                                            the beginning of the Pilot Period,5 and                means of addressing the confidentiality
                                                       Pursuant to Section 19(b)(1) of the                  that Nasdaq shall make data for the Pre-               concerns raised in connection with the
                                                    Securities Exchange Act of 1934                         Pilot Period publicly available on the                 publication of Appendix B data related
                                                    (‘‘Act’’),1 and Rule 19b–4 thereunder,2                 Nasdaq Web site pursuant to Appendix                   to OTC activity in furtherance of the
                                                    notice is hereby given that on February                 B and C to the Plan by February 28,                    objectives of the Plan.10 Pursuant to this
                                                    28, 2017, The NASDAQ Stock Market                       2017.6                                                 amendment, Appendix B data
                                                    LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed                     Nasdaq is proposing amendments to                   publication will be delayed until April
                                                    with the Securities and Exchange                        Commentary .08 to Rule 4770 to delay                   28, 2017. The Participants anticipate
                                                    Commission (‘‘SEC’’ or ‘‘Commission’’)                  the date by which Pre-Pilot and Pilot                  filing additional proposed rule changes
                                                    the proposed rule change as described                   Appendix B data is to be made publicly                 to address Appendix B data publication.
                                                    in Items I, and II, below, which Items                  available on Nasdaq’s Web site from                       Nasdaq has filed the proposed rule
                                                    have been prepared by the Exchange.                     February 28, 2017, until April 28, 2017.               change for immediate effectiveness. The
                                                    The Commission is publishing this                       Appendix C data for the Pre-Pilot Period               operative date of the proposed rule
                                                    notice to solicit comments on the                       through the month of January 2017 will                 change will be the date of filing.
                                                    proposed rule change from interested                    be published on the Nasdaq Web site on                 2. Statutory Basis
                                                    persons.                                                February 28, 2017, and, thereafter, on                    The Exchange believes that its
                                                    I. Self-Regulatory Organization’s                       the original 30-day schedule.7 As some                 proposal is consistent with Section 6(b)
                                                    Statement of the Terms of Substance of                     3 See Rule 4770(b). See also Securities Exchange
                                                                                                                                                                   of the Act,11 in general, and furthers the
                                                    the Proposed Rule Change                                Act Release No. 77456 (March 28, 2016), 81 FR          objectives of Section 6(b)(5) of the Act,12
                                                       The Exchange proposes to amend                       18925 (April 1, 2016) (SR–NASDAQ–2016–043).            in particular, in that it is designed to
                                                    Rule 4770 to modify the date of
                                                                                                               4 The Participants filed the Plan to comply with
                                                                                                                                                                   prevent fraudulent and manipulative
                                                                                                            an order issued by the Commission on June 24,          acts and practices, promote just and
                                                    Appendix B Web site data publication                    2014. See Letter from Brendon J. Weiss, Vice
                                                    pursuant to the Regulation NMS Plan to                  President, Intercontinental Exchange, Inc., to         equitable principles of trade, to remove
                                                    Implement a Tick Size Pilot Program                     Secretary, Commission, dated August 25, 2014           impediments to and perfect the
                                                    (‘‘Plan’’).                                             (‘‘SRO Tick Size Plan Proposal’’). See Securities      mechanism of a free and open market
                                                                                                            Exchange Act Release No 72460 (June 24, 2014), 79      and a national market system, and, in
                                                       The text of the proposed rule change                 FR 36840 (June 30, 2014); see also Securities
                                                    is available on the Exchange’s Web site                 Exchange Act Release No. 74892 (May 6, 2015), 80
                                                    at http://nasdaq.cchwallstreet.com, at                  FR 27513 (May 13, 2015).                               timing of the publication of Appendix C data for the
                                                                                                               5 Unless otherwise defined herein, capitalized      Pilot Period is needed.
                                                    the principal office of the Exchange, and                                                                         8 See Securities Exchange Act Release No. 73511
                                                                                                            terms have the meaning ascribed to them in Rule
                                                    at the Commission’s Public Reference                    4770.                                                  (November 3, 2014), 79 FR 66423 (November 7,
                                                    Room.                                                      6 On November 30, 2016, the SEC granted             2014) (Notice of Filing of Proposed National Market
                                                                                                            exemptive relief to the Participants to, among other   System Plan to Implement a Tick Size Pilot Program
                                                    II. Self-Regulatory Organization’s                      things, delay the publication of Web site data         on a One-Year Pilot Basis, File No. 4–657) (‘‘Tick
                                                    Statement of the Purpose of, and                        pursuant to Appendices B and C to the Plan until       Size Plan Proposal’’).
                                                                                                                                                                      9 See letters from Adam C. Cooper, Senior
                                                    Statutory Basis for, the Proposed Rule                  February 28, 2017, and to delay the ongoing Web
                                                                                                            site publication by ninety days such that data         Managing Director and Chief Legal Officer, Citadel
                                                    Change                                                                                                         Securities, to Brent J. Fields, Secretary,
                                                                                                            would be published within 120 calendar days
                                                      In its filing with the Commission, the                following the end of the month. See Letter from        Commission, dated December 21, 2016 (‘‘Citadel
                                                                                                            David S. Shillman, Associate Director, Division of     letter’’); and William Hebert, Managing Director,
                                                    Exchange included statements                                                                                   Financial Information Forum, to Robert W. Errett,
                                                                                                            Trading and Markets, Commission, to Marcia E.
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    concerning the purpose of and basis for                 Asquith, Senior Vice President and Corporate           Deputy Secretary, Commission, dated December 21,
                                                    the proposed rule change and discussed                  Secretary, FINRA, dated November 30, 2016; see         2016 (‘‘FIF letter’’).
                                                    any comments it received on the                         also Securities Exchange Act Release No. 79546            10 In connection with its filing to implement a

                                                    proposed rule change. The text of these                 (December 14, 2016), 81 FR 92932 (December 20,         similar change in its rules, the Financial Industry
                                                                                                            2016) (SR–NASDAQ–2016–165).                            Regulatory Authority, Inc. is also submitting an
                                                    statements may be examined at the                          7 Since, under Rule 4770(b)(4), Nasdaq is not       exemptive request to the SEC on behalf of all Plan
                                                                                                            independently publishing Market Maker                  Participants requesting relief from the relevant
                                                      15 17 CFR 200.30–3(a)(12).                                                                                   requirements of the Plan.
                                                                                                            profitability data collected pursuant to Item I of
                                                      1 15 U.S.C. 78s(b)(1).                                                                                          11 15 U.S.C. 78f(b).
                                                                                                            Appendix C of the Plan, no corresponding change
                                                      2 17 CFR 240.19b-4.                                   to the language of Rule 4770(b)(4) relating to the        12 15 U.S.C. 78f(b)(5).




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                                                                                    Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices                                           14273

                                                    general to protect investors and the                    Exchange has filed the proposed rule                  the purposes of the Act. If the
                                                    public interest. Nasdaq also believes                   change for immediate effectiveness and                Commission takes such action, the
                                                    that the proposal is consistent with                    has requested that the Commission                     Commission shall institute proceedings
                                                    Section 6(b)(8) of the Act,13 which                     waive the requirement that the proposed               to determine whether the proposed rule
                                                    requires that Exchange rules not impose                 rule change not become operative for 30               should be approved or disapproved.
                                                    any burden on competition that is not                   days after the date of the filing so that
                                                                                                            it may become operative on February                   IV. Solicitation of Comments
                                                    necessary or appropriate.
                                                       The Plan is designed to allow the                    28, 2017.                                               Interested persons are invited to
                                                    Commission, market participants, and                       The Exchange notes that the proposed               submit written data, views, and
                                                    the public to study and assess the                      rule change is intended to address                    arguments concerning the foregoing,
                                                    impact of increment conventions on the                  confidentiality concerns raised in                    including whether the proposed rule
                                                    liquidity and trading of the common                     connection with the publication of OTC                change is consistent with the Act.
                                                    stock of small-capitalization companies.                Appendix B data by permitting the                     Comments may be submitted by any of
                                                    Nasdaq believes that this proposal is                   Exchange to delay Web site publication                the following methods:
                                                    consistent with the Act because it is in                of its Appendix B data from February
                                                    furtherance of the objectives of Section                28, 2017 to April 28, 2017.16 The                     Electronic Comments
                                                    VII(A) of the Plan in that it is designed               Exchange notes that the delay would
                                                                                                                                                                    • Use the Commission’s Internet
                                                    to provide Nasdaq with additional time                  provide additional time to assess a
                                                                                                                                                                  comment form (http://www.sec.gov/
                                                    to assess a means of addressing the                     means of addressing the confidentiality
                                                                                                                                                                  rules/sro.shtml); or
                                                    confidentiality concerns raised in                      concerns. The Exchange notes that it
                                                                                                            expects Participants to file proposed                   • Send an email to rule-comments@
                                                    connection with the publication of
                                                                                                            rule changes related to publishing                    sec.gov. Please include File Number SR–
                                                    Appendix B data, to comply with the
                                                                                                            Appendix B data.                                      NASDAQ–2017–024 on the subject line.
                                                    Plan’s requirements that the data made
                                                    publicly available will not identify the                   The Commission believes that                       Paper Comments
                                                    trading center that generated the data.                 waiving the 30-day operative delay is
                                                                                                            consistent with the protection of                       • Send paper comments in triplicate
                                                    B. Self-Regulatory Organization’s                       investors and the public interest                     to Secretary, Securities and Exchange
                                                    Statement on Burden on Competition                      because it will allow the Exchange to                 Commission, 100 F Street NE.,
                                                      The Exchange does not believe that                    delay publication of its Appendix B data              Washington, DC 20549–1090.
                                                    the proposed rule change will impose                    until April 28, 2017. As noted above,                 All submissions should refer to File
                                                    any burden on competition not                           commenters continue to raise concerns                 Number SR–NASDAQ–2017–024. This
                                                    necessary or appropriate in furtherance                 about the publication of OTC Appendix                 file number should be included on the
                                                    of the purposes of the Act. The                         B data.17 Delaying publication of
                                                                                                                                                                  subject line if email is used. To help the
                                                    proposed rule change implements the                     Exchange’s Appendix B data 18 will
                                                                                                                                                                  Commission process and review your
                                                    provisions of the Plan.                                 prevent the publication of partial (i.e.,
                                                                                                                                                                  comments more efficiently, please use
                                                                                                            Exchange-only) Appendix B data
                                                    C. Self-Regulatory Organization’s                                                                             only one method. The Commission will
                                                                                                            required under the Plan. Therefore, the
                                                    Statement on Comments on the                                                                                  post all comments on the Commission’s
                                                                                                            Commission hereby waives the 30-day
                                                    Proposed Rule Change Received From                                                                            Internet Web site (http://www.sec.gov/
                                                                                                            operative delay and designates the
                                                    Members, Participants, or Others                                                                              rules/sro.shtml). Copies of the
                                                                                                            proposed rule change to be operative on
                                                                                                                                                                  submission, all subsequent
                                                      No written comments were either                       February 28, 2017.19
                                                                                                               At any time within 60 days of the                  amendments, all written statements
                                                    solicited or received.                                                                                        with respect to the proposed rule
                                                                                                            filing of the proposed rule change, the
                                                    III. Date of Effectiveness of the                       Commission summarily may                              change that are filed with the
                                                    Proposed Rule Change and Timing for                     temporarily suspend such rule change if               Commission, and all written
                                                    Commission Action                                       it appears to the Commission that such                communications relating to the
                                                                                                            action is necessary or appropriate in the             proposed rule change between the
                                                       Because the foregoing proposed rule
                                                                                                            public interest, for the protection of                Commission and any person, other than
                                                    change does not: (i) Significantly affect
                                                                                                            investors, or otherwise in furtherance of             those that may be withheld from the
                                                    the protection of investors or the public
                                                                                                                                                                  public in accordance with the
                                                    interest; (ii) impose any significant
                                                                                                               16 See supra note 9. The Commission notes that     provisions of 5 U.S.C. 552, will be
                                                    burden on competition; and (iii) become
                                                                                                            FINRA has submitted a proposed rule change to         available for Web site viewing and
                                                    operative for 30 days from the date on                  delay the publication of OTC Appendix B data. See     printing in the Commission’s Public
                                                    which it was filed, or such shorter time                SR–FINRA–2017–005.                                    Reference Room, 100 F Street NE.,
                                                    as the Commission may designate, it has                    17 The Commission notes that FINRA has filed a
                                                                                                                                                                  Washington, DC 20549, on official
                                                    become effective pursuant to Section                    proposed rule change that is intended to mitigate
                                                                                                            confidentiality concerns raised by commenters         business days between the hours of
                                                    19(b)(3)(A) of the Act 14 and Rule 19b–
                                                                                                            regarding the publication of OTC Appendix B data.     10:00 a.m. and 3:00 p.m. Copies of the
                                                    4(f)(6) thereunder.15                                   See SR–FINRA–2017–006.                                filing also will be available for
                                                       A proposed rule change filed under                      18 The Commission notes that other Participants
                                                                                                                                                                  inspection and copying at the principal
                                                    Rule 19b–4(f)(6) normally does not                      have proposed to delay the publication of their
                                                                                                            Appendix B data until April 28, 2017. See SR–         office of the Exchange. All comments
                                                    become operative prior to 30 days after
                                                                                                            BatsBYX–2017–05; SR–BatsBZX–2017–15; SR–              received will be posted without change;
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    the date of the filing. However, pursuant               BatsEDGA–2017–05; SR–BatsEDGX–2017–13; SR–            the Commission does not edit personal
                                                    to Rule 19b–4(f)(6)(iii), the Commission                BX–2017–016; SR–CHX–2017–05; SR–FINRA–                identifying information from
                                                    may designate a shorter time if such                    2017–005; SR–IEX–2017–07; SR–Phlx–2017–22;
                                                                                                            SR–NYSE–2017–10; SR–NYSEArca–2017–19; SR–             submissions. You should submit only
                                                    action is consistent with the protection
                                                                                                            NYSEMKT–2017–11.                                      information that you wish to make
                                                    of investors and the public interest. The                  19 For purposes only of waiving the operative      available publicly. All submissions
                                                                                                            delay for this proposal, the Commission has           should refer to File Number SR–
                                                      13 15 U.S.C. 78f(b)(8).                               considered the proposed rule’s impact on
                                                      14 15 U.S.C. 78s(b)(3)(A).                            efficiency, competition, and capital formation. See
                                                                                                                                                                  NASDAQ–2017–024, and should be
                                                      15 17 CFR 240.19b–4(f)(6).                            15 U.S.C. 78c(f).                                     submitted on or before April 7, 2017.


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                                                    14274                             Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices

                                                      For the Commission, by the Division of                  DEPARTMENT OF STATE                                   Highway Administration (FHWA),
                                                    Trading and Markets, pursuant to delegated                                                                      Department of Transportation.
                                                    authority.20                                              [Public Notice: 9921]
                                                                                                                                                                    ACTION: Federal notice of intent to
                                                    Eduardo A. Aleman,                                                                                              prepare an Environmental Impact
                                                                                                              Notice of Determinations; Culturally
                                                    Assistant Secretary.                                                                                            Statement (EIS).
                                                                                                              Significant Objects Imported for
                                                    [FR Doc. 2017–05344 Filed 3–16–17; 8:45 am]               Exhibition Determinations: ‘‘Inventing
                                                    BILLING CODE 8011–01–P                                    Utamaro: A Japanese Masterpiece                       SUMMARY:   FHWA, on behalf of TxDOT,
                                                                                                              Rediscovered’’ Exhibition                             is issuing this notice to advise the
                                                                                                                                                                    public that an EIS will be prepared for
                                                                                                                 Notice is hereby given of the                      a proposed transportation project to
                                                    DEPARTMENT OF STATE                                       following determinations: Pursuant to                 construct State Highway (SH) 190, from
                                                    [Public Notice: 9922]                                     the authority vested in me by the Act of              Interstate Highway (IH) 30 to IH 20,
                                                                                                              October 19, 1965 (79 Stat. 985; 22 U.S.C.             within southeast Dallas County.
                                                    Notice of Determinations; Culturally                      2459), E.O. 12047 of March 27, 1978, the              FOR FURTHER INFORMATION CONTACT:
                                                    Significant Object Imported for                           Foreign Affairs Reform and                            Travis Owens, P.E., Transportation
                                                    Exhibition Determinations: ‘‘Now Then:                    Restructuring Act of 1998 (112 Stat.                  Engineer, 4777 E. Highway 80,
                                                    Chris Killip and the Making of In                         2681, et seq.; 22 U.S.C. 6501 note, et                Mesquite, Texas 75150; telephone: (214)
                                                    Flagrante’’ Exhibition                                    seq.), Delegation of Authority No. 234 of             320–6625; email: travis.owens@
                                                                                                              October 1, 1999, Delegation of Authority              txdot.gov. TxDOT’s normal business
                                                      Notice is hereby given of the                           No. 236–3 of August 28, 2000 (and, as
                                                    following determinations: Pursuant to                                                                           hours are 8:00 a.m.—5:00 p.m., Monday
                                                                                                              appropriate, Delegation of Authority No.              through Friday.
                                                    the authority vested in me by the Act of                  257–1 of December 11, 2015), I hereby
                                                    October 19, 1965 (79 Stat. 985; 22 U.S.C.                                                                       SUPPLEMENTARY INFORMATION: The
                                                                                                              determine that the objects to be
                                                    2459), E.O. 12047 of March 27, 1978, the                  included in the exhibition ‘‘Inventing                environmental review, consultation, and
                                                    Foreign Affairs Reform and                                Utamaro: A Japanese Masterpiece                       other actions required by applicable
                                                    Restructuring Act of 1998 (112 Stat.                      Rediscovered,’’ imported from abroad                  Federal environmental laws for this
                                                    2681, et seq.; 22 U.S.C. 6501 note, et                    for temporary exhibition within the                   project are being, or have been, carried-
                                                    seq.), Delegation of Authority No. 234 of                 United States, are of cultural                        out by TxDOT pursuant to 23 U.S.C. 327
                                                    October 1, 1999, Delegation of Authority                  significance. The objects are imported                and a Memorandum of Understanding
                                                    No. 236–3 of August 28, 2000 (and, as                     pursuant to a loan agreement with the                 dated December 16, 2014, and executed
                                                    appropriate, Delegation of Authority No.                  foreign owner or custodian. I also                    by FHWA and TxDOT. TxDOT will
                                                    257–1 of December 11, 2015), I hereby                     determine that the exhibition or display              prepare an EIS for the proposed SH 190,
                                                    determine that an object to be included                   of the exhibit objects at the Arthur M.               from IH 30 at the President George Bush
                                                    in the exhibition ‘‘Now Then: Chris                       Sackler Gallery, Smithsonian                          Turnpike interchange south to IH 20
                                                    Killip and the Making of In Flagrante,’’                  Institution, Washington, District of                  within southeast Dallas County. The
                                                    imported from abroad for temporary                        Columbia, from on or about April 8,                   proposed SH 190 project is listed in the
                                                    exhibition within the United States, is                   2017, until on or about July 9, 2017, and             Metropolitan Transportation Plan of the
                                                    of cultural significance. The object is                   at possible additional exhibitions or                 North Central Texas Council of
                                                    imported pursuant to a loan agreement                     venues yet to be determined, is in the                Governments (NCTCOG), Mobility 2040,
                                                    with the foreign owner or custodian. I                    national interest. I have ordered that                as a new location six-lane tolled facility.
                                                    also determine that the exhibition or                     Public Notice of these Determinations                    Previously, a Notice of Intent to
                                                    display of the exhibit object at the J.                   be published in the Federal Register.                 prepare an EIS was published on July 1,
                                                    Paul Getty Museum at the Getty Center,                       For further information, including a               2005, in the Federal Register and the
                                                    Los Angeles, California, from on or                       list of the imported objects, contact the             Texas Register and notification letters
                                                    about May 23, 2017, until on or about                     Office of Public Diplomacy and Public                 were sent to Federal, State and Tribal
                                                    August 13, 2017, and at possible                          Affairs in the Office of the Legal                    agencies to inform them of the study
                                                    additional exhibitions or venues yet to                   Adviser, U.S. Department of State                     and to request information. From 2005–
                                                    be determined, is in the national                         (telephone: 202–632–6471; email:                      2014, TxDOT conducted planning
                                                    interest. I have ordered that Public                      section2459@state.gov). The mailing                   studies that developed and evaluated
                                                    Notice of these Determinations be                         address is U.S. Department of State,                  several tolled project alternatives along
                                                    published in the Federal Register.                        L/PD, SA–5, Suite 5H03, Washington,                   the 11-mile corridor. This effort has
                                                      For further information, including an                   DC 20522–0505.                                        included the involvement of the public,
                                                    object list, contact the Office of Public                                                                       local municipalities, and resource
                                                                                                              Alyson Grunder,                                       agencies, the sharing of information
                                                    Diplomacy and Public Affairs in the
                                                                                                              Deputy Assistant Secretary for Policy, Bureau         through stakeholder and agency
                                                    Office of the Legal Adviser, U.S.
                                                                                                              of Educational and Cultural Affairs,                  meetings, the creation of a project Web
                                                    Department of State (telephone: 202–                      Department of State.
                                                    632–6471; email: section2459@                                                                                   site (www.theeastbranch.org), and
                                                                                                              [FR Doc. 2017–05314 Filed 3–16–17; 8:45 am]           conducting four public meetings. The
                                                    state.gov). The mailing address is U.S.
                                                    Department of State, L/PD, SA–5, Suite                    BILLING CODE 4710–05–P                                new NOI signifies that TxDOT will
                                                    5H03, Washington, DC 20522–0505.                                                                                restart the work preparing the EIS. The
                                                                                                                                                                    EIS may use and rely on the planning
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    Alyson Grunder,                                           DEPARTMENT OF TRANSPORTATION                          studies already prepared.
                                                    Deputy Assistant Secretary for Policy, Bureau                                                                      The project is needed to address
                                                    of Educational and Cultural Affairs,                      Federal Highway Administration                        north/south system linkage between IH
                                                    Department of State.                                                                                            30 and IH 20 in southeast Dallas
                                                    [FR Doc. 2017–05318 Filed 3–16–17; 8:45 am]               Environmental Impact Statement:
                                                                                                                                                                    County. Currently, the only major
                                                                                                              Dallas County, Texas
                                                    BILLING CODE 4710–05–P                                                                                          transportation facility within a
                                                                                                              AGENCY: Texas Department of                           reasonable distance connecting these
                                                      20 17   CFR 200.30–3(a)(12).                            Transportation (TxDOT), Federal                       two interstates is IH 635, which is


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Document Created: 2017-03-17 02:48:53
Document Modified: 2017-03-17 02:48:53
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 Citation82 FR 14272 

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