82 FR 15393 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 58 (March 28, 2017)

Page Range		15393-15393
FR Document		2017-06152

Federal Register, Volume 82 Issue 58 (Tuesday, March 28, 2017)

[Federal Register Volume 82, Number 58 (Tuesday, March 28, 2017)]
[Notices]
[Page 15393]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-06152]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold a closed meeting on Thursday, March 
30, 2017 at 11 a.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (a)(10), permit 
consideration of the scheduled matter at the closed meeting.
    Acting Chairman Piwowar, as duty officer, voted to consider the 
items listed for the closed meeting in closed session.
    The subject matter of the closed meeting will be:
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings;
    Adjudicatory matters; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed; please contact Brent J. Fields from 
the Office of the Secretary at (202) 551-5400.

    Dated: March 23, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017-06152 Filed 3-24-17; 11:15 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 58 / Tuesday, March 28, 2017 / Notices 15393

For the Board of Actuaries. SECURITIES AND EXCHANGE (a)–(m) No change.
Kathleen M. McGettigan, COMMISSION . . . Interpretations and Policies:
.01–.06 No change.
Acting Director. [Release No. 34–80298; File No. SR–C2– .07 Complex Orders and Stock-Option
[FR Doc. 2017–06028 Filed 3–27–17; 8:45 am] 2017–011] Orders:
BILLING CODE 6325–63–P (a) If a complex order executes against
Self-Regulatory Organizations; C2 individual legs and at least one of the legs
Options Exchange, Incorporated; qualifies as an Obvious Error under
Notice of Filing and Immediate paragraph (c)(1) or a Catastrophic Error
Effectiveness of a Proposed Rule under paragraph (d)(1), then the leg(s) that is
SECURITIES AND EXCHANGE an Obvious or Catastrophic Error will be
COMMISSION Change Related to Rule 6.15
adjusted in accordance with paragraphs
March 22, 2017. (c)(4)(A) or (d)(3), respectively, regardless of
Sunshine Act Meeting Pursuant to Section 19(b)(1) of the whether one of the parties is a Customer.
Securities Exchange Act of 1934 (the However, any Customer order subject to this
Notice is hereby given, pursuant to ‘‘Act’’),1 and Rule 19b–4 thereunder,2 paragraph (a) will be nullified if the
the provisions of the Government in the adjustment would result in an execution
notice is hereby given that on March 15,
Sunshine Act, Public Law 94–409, that price higher (for buy transactions) or lower
2017, C2 Options Exchange, (for sell transactions) than the Customer’s
the Securities and Exchange Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) limit price on the complex order or
Commission will hold a closed meeting filed with the Securities and Exchange individual leg(s). If any leg of a complex
on Thursday, March 30, 2017 at 11 a.m. Commission (the ‘‘Commission’’) the order is nullified, the entire transaction is
Commissioners, Counsel to the proposed rule change as described in nullified.
Commissioners, the Secretary to the Items I and II below, which Items have (b) If a complex order executes against
been prepared by the Exchange. The another complex order and at least one of the
Commission, and recording secretaries legs qualifies as an Obvious Error under
will attend the closed meeting. Certain Exchange filed the proposal as a ‘‘non-
paragraph (c)(1) or a Catastrophic Error
staff members who have an interest in controversial’’ proposed rule change
under paragraph (d)(1), then the leg(s) that is
the matters also may be present. pursuant to Section 19(b)(3)(A)(iii) of an Obvious or Catastrophic Error will be
the Act 3 and Rule 19b–4(f)(6) adjusted or busted in accordance with
The General Counsel of the thereunder.4 The Commission is paragraph (c)(4) or (d)(3), respectively, so
Commission, or her designee, has publishing this notice to solicit long as either: (i) the width of the National
certified that, in her opinion, one or comments on the proposed rule change Spread Market for the complex order strategy
more of the exemptions set forth in 5 from interested persons. just prior to the erroneous transaction was
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) equal to or greater than the amount set forth
and 17 CFR 200.402(a)(3), (a)(5), (a)(7), I. Self-Regulatory Organization’s in the wide quote table of paragraph (b)(3) or
(a)(9)(ii) and (a)(10), permit Statement of the Terms of Substance of (ii) the net execution price of the complex
the Proposed Rule Change order is higher (lower) than the offer (bid) of
consideration of the scheduled matter at the National Spread Market for the complex
the closed meeting. The Exchange seeks to amend Rule
order strategy just prior to the erroneous
6.15. The text of the proposed rule transaction by an amount equal to at least
Acting Chairman Piwowar, as duty
change is provided below, (additions are the amount shown in the table in paragraph
officer, voted to consider the items
in italics; deletions are [bracketed]) (c)(1). If any leg of a complex order is
listed for the closed meeting in closed
* * * * * nullified, the entire transaction is nullified.
session. For purposes of Rule 6.15, the National
The subject matter of the closed C2 Options Exchange, Incorporated Spread Market for a complex order strategy
meeting will be: Rules is determined by the National Best Bid/Offer
of the individual legs of the strategy.
Institution and settlement of Rule 6.15. Nullification and Adjustment of (c) If the option leg of a stock-option order
injunctive actions; Options Transactions including Obvious qualifies as an Obvious Error under
Errors paragraph (c)(1) or a Catastrophic Error
Institution and settlement of
The Exchange may nullify a transaction or under paragraph (d)(1), then the option leg
administrative proceedings;
adjust the execution price of a transaction in that is an Obvious or Catastrophic Error will
Adjudicatory matters; and accordance with this Rule. However, the be adjusted in accordance with paragraph
determination as to whether a trade was (c)(4)(A) or (d)(3), respectively, regardless of
Other matters relating to enforcement
executed at an erroneous price may be made whether one of the parties is a Customer.
proceedings. by mutual agreement of the affected parties However, the option leg of any Customer
At times, changes in Commission to a particular transaction. A trade may be order subject to this paragraph (c) will be
priorities require alterations in the nullified or adjusted on the terms that all nullified if the adjustment would result in an
parties to a particular transaction agree, execution price higher (for buy transactions)
scheduling of meeting items. provided, however, that such agreement to or lower (for sell transactions) than the
For further information and to nullify or adjust must be conveyed to the Customer’s limit price on the stock-option
ascertain what, if any, matters have been Exchange in a manner prescribed by the order, and the Exchange will attempt to
added, deleted or postponed; please Exchange prior to 7:30 a.m. Central Time on nullify the stock leg. Whenever a stock
the first trading day following execution. It trading venue nullifies the stock leg of a
contact Brent J. Fields from the Office of is considered conduct inconsistent with just stock-option order or whenever the stock leg
the Secretary at (202) 551–5400. and equitable principles of trade for any cannot be executed, the Exchange will nullify
participant to use the mutual adjustment
sradovich on DSK3GMQ082PROD with NOTICES

Dated: March 23, 2017. the option leg upon request of one of the
process to circumvent any applicable parties to the transaction or in accordance
Brent J. Fields, Exchange rule, the Act or any of the rules and with paragraph (c)(3).
Secretary. regulations thereunder.
[FR Doc. 2017–06152 Filed 3–24–17; 11:15 am]
* * * * *
1 15 U.S.C. 78s(b)(1). The text of the proposed rule change
BILLING CODE 8011–01–P
2 17 CFR 240.19b–4. is also available on the Exchange’s Web
3 15 U.S.C. 78s(b)(3)(A)(iii). site (http://www.cboe.com/AboutCBOE/
4 17 CFR 240.19b–4(f)(6). CBOELegalRegulatoryHome.aspx), at

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Document Created: 2017-03-28 00:32:06
Document Modified: 2017-03-28 00:32:06

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		82 FR 15393