82 FR 31366 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Adopt FINRA Rule 6898 (Consolidated Audit Trail-Fee Dispute Resolution)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 128 (July 6, 2017)
Federal Register Volume 82, Issue 128 (July 6, 2017)
| Page Range | 31366-31369 | |
| FR Document | 2017-14144 |
[Federal Register Volume 82, Number 128 (Thursday, July 6, 2017)] [Notices] [Pages 31366-31369] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-14144] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81053; File No. SR-FINRA-2017-020] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Adopt FINRA Rule 6898 (Consolidated Audit Trail--Fee Dispute Resolution) June 29, 2017. Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'' or the ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that, on June 19, 2017, Financial Industry Regulatory Authority, Inc. (``FINRA'') 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 FINRA. 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\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to adopt FINRA Rule 6898 (Consolidated Audit Trail--Fee Dispute Resolution) to establish the procedures for resolving potential disputes related to CAT Fees charged to Industry Members.\3\ --------------------------------------------------------------------------- \3\ Unless otherwise specified, capitalized terms used in this rule filing are defined as set forth herein or in the Consolidated Audit Trail Funding Fees Rule, the CAT Compliance Rule Series or in the CAT NMS Plan. --------------------------------------------------------------------------- The text of the proposed rule change is available on FINRA's Web site at http://www.finra.org, at the principal office of FINRA, 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, FINRA 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. FINRA 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 Bats BYX Exchange, Inc., Bats BZX Exchange, Inc., Bats EDGA Exchange, Inc., Bats EDGX Exchange, Inc., BOX Options Exchange LLC, C2 Options Exchange, Incorporated, Chicago Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., FINRA, Investors' Exchange LLC, Miami International Securities Exchange, LLC, MIAX PEARL, LLC, NASDAQ BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC,\4\ NASDAQ PHLX LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE MKT LLC, NYSE Arca, Inc. and NYSE National, Inc.\5\ (collectively, the ``Participants'') filed with the Commission, pursuant to Section 11A of the Exchange Act \6\ and Rule 608 of Regulation NMS thereunder,\7\ the National Market System Plan Governing the Consolidated Audit Trail (the ``CAT NMS Plan'' or ``Plan'').\8\ The Participants filed the Plan to comply with Rule 613 of Regulation NMS under the Exchange Act.\9\ The Plan was published for comment in the Federal Register on May 17, 2016,\10\ and approved by the Commission, as modified, on November 15, 2016.\11\ The Plan is designed to create, implement and maintain a consolidated audit trail (``CAT'') that would capture customer and order event information for orders in NMS Securities and OTC Equity Securities, across all markets, from the time of order inception through routing, cancellation, modification, or execution in a single consolidated data source. The Plan accomplishes this by creating CAT NMS, LLC (the ``Company''), of which each Participant is a member, to operate the CAT.\12\ Under the CAT NMS Plan, the Operating Committee of the Company (``Operating Committee'') has discretion to establish funding for the Company to operate the CAT, including establishing fees that the Participants will pay, and establishing fees for Industry Members that will be implemented by the Participants (``CAT Fees'').\13\ The Participants are required to file with the SEC under Section 19(b) of the Exchange Act any such CAT Fees applicable to Industry Members that the Operating Committee approves.\14\ Accordingly, FINRA has filed a proposed rule change with the SEC to adopt the Consolidated Audit Trail Funding Fees, which will require Industry Members that are FINRA members to pay the CAT Fees determined by the Operating Committee.\15\ FINRA submits this [[Page 31367]] proposed rule change to adopt FINRA Rule 6898 (Consolidated Audit Trail--Fee Dispute Resolution) to establish the procedures for resolving potential disputes related to CAT Fees charged to Industry Members. Proposed Rule 6898 is described below. --------------------------------------------------------------------------- \4\ ISE Gemini, LLC, ISE Mercury, LLC and International Securities Exchange, LLC have been renamed Nasdaq GEMX, LLC, Nasdaq MRX, LLC, and Nasdaq ISE, LLC, respectively. See Securities Exchange Act Release No. 80248 (March 15, 2017), 82 FR 14547 (March 21, 2017); Securities Exchange Act Release No. 80326 (March 29, 2017), 82 FR 16460 (April 4, 2017); and Securities Exchange Act Release No. 80325 (March 29, 2017), 82 FR 16445 (April 4, 2017). \5\ National Stock Exchange, Inc. has been renamed NYSE National, Inc. See Securities Exchange Act Release No. 79902 (January 30, 2017), 82 FR 9258 (February 3, 2017). \6\ 15 U.S.C. 78k-1. \7\ 17 CFR 242.608. \8\ See Letter from the Participants to Brent J. Fields, Secretary, Commission, dated September 30, 2014; and Letter from Participants to Brent J. Fields, Secretary, Commission, dated February 27, 2015. On December 23, 2015, the Participants submitted an amendment to the CAT NMS Plan. See Letter from Participants to Brent J. Fields, Secretary, Commission, dated December 23, 2015. \9\ 17 CFR 242.613. \10\ Securities Exchange Act Release No. 77724 (April 27, 2016), 81 FR 30614 (May 17, 2016). \11\ Securities Exchange Act Release No. 79318 (November 15, 2016), 81 FR 84696 (November 23, 2016) (``Approval Order''). \12\ The Plan also serves as the limited liability company agreement for the Company. \13\ Section 11.1(b) of the CAT NMS Plan. \14\ See supra note 12 [sic]. \15\ See Securities Exchange Act Release No. 80710 (May 17, 2017), 82 FR 23629 [sic] (May 23, 2017) (SR-FINRA-2017-011). --------------------------------------------------------------------------- (1) Definitions Paragraph (a) of proposed Rule 6898 sets forth the definitions for proposed Rule 6898. Paragraph (a)(1) of proposed Rule 6898 states that, for purposes of Rule 6898, the terms ``CAT NMS Plan'', ``Industry Member'', ``Operating Committee'', and ``Participant'' are defined as set forth in the Rule 6810 (Consolidated Audit Trail Compliance Rule-- Definitions), and the term ``CAT Fee'' is defined as set forth in the Rule 6897 (Consolidated Audit Trail Funding Fees). In addition, FINRA proposes to add paragraph (a)(2) to proposed Rule 6898. New paragraph (a)(2) would define the term ``Subcommittee'' to mean a subcommittee designated by the Operating Committee pursuant to the CAT NMS Plan. This definition is the same substantive definition as set forth in Section 1.1 of the CAT NMS Plan. (2) Fee Dispute Resolution Section 11.5 of the CAT NMS Plan requires Participants to adopt rules requiring that disputes with respect to fees charged to Industry Members pursuant to the CAT NMS Plan be determined by the Operating Committee or Subcommittee. Section 11.5 of the CAT NMS Plan also states that decisions by the Operating Committee or Subcommittee on such matters shall be binding on Industry Members, without prejudice to the right of any Industry Member to seek redress from the SEC pursuant to SEC Rule 608 of Regulation NMS,\16\ or in any other appropriate forum. FINRA proposes to adopt paragraph (b) of proposed Rule 6898. Paragraph (b) of proposed Rule 6898 states that disputes initiated by an Industry Member with respect to CAT Fees charged to such Industry Member pursuant to the Consolidated Audit Trail Funding Fees, including disputes related to the designated tier and the fee calculated pursuant to such tier, shall be resolved by the Operating Committee, or a Subcommittee designated by the Operating Committee of the CAT NMS Plan, pursuant to the Fee Dispute Resolution Procedures adopted pursuant to the CAT NMS Plan and set forth in paragraph (c) of proposed Rule 6898. Decisions on such matters shall be binding on Industry Members, without prejudice to the rights of any such Industry Member to seek redress from the SEC or in any other appropriate forum. --------------------------------------------------------------------------- \16\ 17 CFR 242.608. --------------------------------------------------------------------------- The Operating Committee has adopted ``Fee Dispute Resolution Procedures'' governing the manner in which disputes regarding CAT Fees charged pursuant to the Consolidated Audit Trail Funding Fees will be addressed. These Fee Dispute Resolution Procedures, as they relate to Industry Members, are set forth in paragraph (c) of proposed Rule 6898. Specifically, the Fee Dispute Resolution Procedures provide the procedure for Industry Members that dispute CAT Fees charged to such Industry Member pursuant to one or more of the Participants' Consolidated Audit Trail Funding Fees Rules, including disputes related to the designated tier and the fee calculated pursuant to such tier, to apply for an opportunity to be heard and to have the CAT Fees charged to such Industry Member reviewed. The Procedures are modeled after the adverse action procedures adopted by various exchanges,\17\ and will be posted on the Web site for the CAT NMS Plan.\18\ --------------------------------------------------------------------------- \17\ See, e.g., Chapter X of BATS BZX Exchange, Inc. (Adverse Action); and Chapter X of NYSE National, Inc. (Adverse Action). \18\ The CAT NMS Plan Web site is available at http://www.catnmsplan.com/. --------------------------------------------------------------------------- Under these Procedures, an Industry Member that disputes CAT Fees charged to such Industry Member and that desires to have an opportunity to be heard with respect to such disputed CAT Fees must file a written application with the Company within 15 business days after being notified of such disputed CAT Fees. The application must identify the disputed CAT Fees, state the specific reasons why the applicant takes exception to such CAT Fees, and set forth the relief sought. In addition, if the applicant intends to submit any additional documents, statements, arguments or other material in support of the application, the same should be so stated and identified. The Company will refer applications for hearing and review promptly to the Subcommittee designated by the Operating Committee pursuant to Section 4.12 of the CAT NMS Plan with responsibility for conducting the reviews of CAT Fee disputes pursuant to these Procedures. This Subcommittee will be referred to as the Fee Review Subcommittee. The members of the Fee Review Subcommittee will be subject to the provisions of Section 4.3(d) of the CAT NMS Plan regarding recusal and Conflicts of Interest. The Fee Review Subcommittee will keep a record of the proceedings. The Fee Review Subcommittee will hold hearings promptly. The Fee Review Subcommittee will set a hearing date. The parties to the hearing shall furnish the Fee Review Subcommittee with all materials relevant to the proceedings at least 72 hours prior to the date of the hearing. Each party will have the right to inspect and copy the other party's materials prior to the hearing. The parties to the hearing will consist of the applicant and a representative of the Company who shall present the reasons for the action taken by the Company that allegedly aggrieved the applicant. The applicant is entitled to be accompanied, represented and advised by counsel at all stages of the proceedings. The Fee Review Subcommittee will determine all questions concerning the admissibility of evidence and will otherwise regulate the conduct of the hearing. Each of the parties will be permitted to make an opening statement, present witnesses and documentary evidence, cross examine opposing witnesses and present closing arguments orally or in writing as determined by the Fee Review Subcommittee. The Fee Review Subcommittee also will have the right to question all parties and witnesses to the proceeding. The Fee Review Subcommittee must keep a record of the hearing. The formal rules of evidence will not apply. The Fee Review Subcommittee must set forth its decision in writing and send the written decision to the parties to the proceeding. Such decisions will contain the reasons supporting the conclusions of the Fee Review Subcommittee. The decision of the Fee Review Subcommittee will be subject to review by the Operating Committee either on its own motion within 20 business days after issuance of the decision or upon written request submitted by the applicant within 15 business days after issuance of the decision. The applicant's petition must be in writing and must specify the findings and conclusions to which the applicant objects, together with the reasons for such objections. Any objection to a decision not specified in writing will be considered to have been abandoned and may be disregarded. Parties may petition to submit a written argument to the Operating Committee and may request an opportunity to make an oral argument before the Operating Committee. The Operating Committee will have sole discretion to grant or deny either request. [[Page 31368]] The Operating Committee will conduct the review. The review will be made upon the record and will be made after such further proceedings, if any, as the Operating Committee may order. Based upon such record, the Operating Committee may affirm, reverse or modify, in whole or in part, the decision of the Fee Review Subcommittee. The decision of the Operating Committee will be in writing, will be sent to the parties to the proceeding and will be final. The Procedures state that a final decision regarding the disputed CAT Fees by the Operating Committee, or the Fee Review Subcommittee (if there is no review by the Operating Committee), must be provided within 90 days of the date on which the Industry Member filed a written application regarding disputed CAT Fees with the Company. The Operating Committee may extend the 90-day time limit at its discretion. In addition, the Procedures state that any notices or other documents may be served upon the applicant either personally or by leaving the same at its, his or her place of business or by deposit in the United States post office, postage prepaid, by registered or certified mail, addressed to the applicant at its, his or her last known business or residence address. The Procedures also state that any time limits imposed under the Procedures for the submission of answers, petitions or other materials may be extended by permission of the Operating Committee. All papers and documents relating to review by the Fee Review Subcommittee or the Operating Committee must be submitted to the Fee Review Subcommittee or Operating Committee, as applicable. The Procedures also note that decisions on such CAT Fee disputes made pursuant to these Procedures will be binding on Industry Members, without prejudice to the rights of any such Industry Member to seek redress from the SEC, or in any other appropriate forum. Finally, an Industry Member that files a written application with the Company regarding disputed CAT Fees in accordance with these Procedures is not required to pay such disputed CAT Fees until the dispute is resolved in accordance with these Procedures, including any review by the SEC, or in any other appropriate forum. For these purposes, the disputed CAT Fees means the amount of the invoiced CAT Fees that the Industry Member has asserted pursuant to these Procedures that such Industry Member does not owe to the Company. The Industry Member must pay any invoiced CAT Fees that are not disputed CAT Fees when due as set forth in the original invoice. Once the dispute regarding CAT Fees is resolved pursuant to these Procedures, if it is determined that the Industry Member owes any of the disputed CAT Fees, then the Industry Member must pay such disputed CAT Fees that are owed, as well as interest on such disputed CAT Fees from the original due date (that is, 30 days after receipt of the original invoice of such CAT Fees) until such disputed CAT Fees are paid at a per annum rate equal to the lesser of (i) the Prime Rate plus 300 basis points, or (ii) the maximum rate permitted by applicable law. If the Commission approves the proposed rule change, FINRA will announce the implementation date of the proposed rule change in a Regulatory Notice to be published no later than 60 days following Commission approval. The effective date will be no later than 120 days following publication of the Regulatory Notice announcing Commission Approval. 2. Statutory Basis FINRA believes that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Act,\19\ which requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest, and Section 15A(b)(5) of the Act,\20\ which requires, among other things, that FINRA rules provide for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility or system that FINRA operates or controls. --------------------------------------------------------------------------- \19\ 15 U.S.C. 78o-3(b)(6). \20\ 15 U.S.C. 78o-3(b)(5). --------------------------------------------------------------------------- FINRA believes that this proposal is consistent with the Act because it implements, interprets or clarifies Section 11.5 of the Plan, and is designed to assist FINRA and its Industry Members in meeting regulatory obligations pursuant to the Plan. In approving the Plan, the SEC noted that the Plan ``is necessary and appropriate in the public interest, for the protection of investors and the maintenance of fair and orderly markets, to remove impediments to, and perfect the mechanism of a national market system, or is otherwise in furtherance of the purposes of the Act.'' \21\ To the extent that this proposal implements, interprets or clarifies the Plan and applies specific requirements to Industry Members, FINRA believes that this proposal furthers the objectives of the Plan, as identified by the SEC, and is therefore consistent with the Act. --------------------------------------------------------------------------- \21\ Approval Order at 84697. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition FINRA 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. FINRA notes that the proposed rule change implements Section 11.5 of the CAT NMS Plan approved by the Commission, and is designed to assist FINRA in meeting its regulatory obligations pursuant to the Plan. Similarly, all national securities exchanges and FINRA are proposing this proposed rule to implement the requirements of the CAT NMS Plan. Therefore, this is not a competitive rule filing, and, therefore, it does not raise competition issues between and among the exchanges and FINRA. 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 Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the Exchange consents, the Commission will: (A) By order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be 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 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-FINRA-2017-020 on the subject line. [[Page 31369]] 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-FINRA-2017-020. 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-FINRA-2017-020, and should be submitted on or before July 27, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\22\ --------------------------------------------------------------------------- \22\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Jill M. Peterson, Assistant Secretary. [FR Doc. 2017-14144 Filed 7-5-17; 8:45 am] BILLING CODE 8011-01-P
![31366 Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices
allow LCH SA to more appropriately I. Self-Regulatory Organization’s ‘‘Participants’’) filed with the
take into consideration the risks Statement of the Terms of Substance of Commission, pursuant to Section 11A of
associated with clearing contracts on the the Proposed Rule Change the Exchange Act 6 and Rule 608 of
CDX.NA.HY index, and to collect FINRA is proposing to adopt FINRA Regulation NMS thereunder,7 the
margin and other financial resources Rule 6898 (Consolidated Audit Trail— National Market System Plan Governing
that reflect such risks, the Commission Fee Dispute Resolution) to establish the the Consolidated Audit Trail (the ‘‘CAT
believes that the proposed changes are procedures for resolving potential NMS Plan’’ or ‘‘Plan’’).8 The
designed to promote the prompt and disputes related to CAT Fees charged to Participants filed the Plan to comply
accurate clearance and settlement of Industry Members.3 with Rule 613 of Regulation NMS under
The text of the proposed rule change the Exchange Act.9 The Plan was
such contracts. As a result, the
is available on FINRA’s Web site at published for comment in the Federal
Commission finds that the proposed
http://www.finra.org, at the principal Register on May 17, 2016,10 and
rule changes are consistent with Section approved by the Commission, as
17A(b)(3)(F) of the Act. office of FINRA, and at the
Commission’s Public Reference Room. modified, on November 15, 2016.11 The
IV. Conclusion Plan is designed to create, implement
II. Self-Regulatory Organization’s and maintain a consolidated audit trail
It is therefore ordered pursuant to Statement of the Purpose of, and (‘‘CAT’’) that would capture customer
Section 19(b)(2) of the Act that the Statutory Basis for, the Proposed Rule and order event information for orders
proposed rule change (SR–LCH SA– Change in NMS Securities and OTC Equity
2017–005), as amended by Amendment In its filing with the Commission, Securities, across all markets, from the
No. 1, be, and hereby is, approved.22 FINRA included statements concerning time of order inception through routing,
the purpose of and basis for the cancellation, modification, or execution
For the Commission by the Division of
proposed rule change and discussed any in a single consolidated data source.
Trading and Markets, pursuant to delegated
comments it received on the proposed The Plan accomplishes this by creating
authority.23
rule change. The text of these statements CAT NMS, LLC (the ‘‘Company’’), of
Brent J. Fields, may be examined at the places specified which each Participant is a member, to
Secretary. in Item IV below. FINRA has prepared operate the CAT.12 Under the CAT NMS
[FR Doc. 2017–14239 Filed 7–5–17; 8:45 am] summaries, set forth in sections A, B, Plan, the Operating Committee of the
BILLING CODE 8011–01–P and C below, of the most significant Company (‘‘Operating Committee’’) has
aspects of such statements. discretion to establish funding for the
Company to operate the CAT, including
A. Self-Regulatory Organization’s
SECURITIES AND EXCHANGE establishing fees that the Participants
Statement of the Purpose of, and the
COMMISSION will pay, and establishing fees for
Statutory Basis for, the Proposed Rule
Industry Members that will be
Change
[Release No. 34–81053; File No. SR–FINRA– implemented by the Participants (‘‘CAT
2017–020] 1. Purpose Fees’’).13 The Participants are required
Bats BYX Exchange, Inc., Bats BZX to file with the SEC under Section 19(b)
Self-Regulatory Organizations; Exchange, Inc., Bats EDGA Exchange, of the Exchange Act any such CAT Fees
Financial Industry Regulatory Inc., Bats EDGX Exchange, Inc., BOX applicable to Industry Members that the
Authority, Inc.; Notice of Filing of a Options Exchange LLC, C2 Options Operating Committee approves.14
Proposed Rule Change To Adopt Exchange, Incorporated, Chicago Board Accordingly, FINRA has filed a
FINRA Rule 6898 (Consolidated Audit Options Exchange, Incorporated, proposed rule change with the SEC to
Trail—Fee Dispute Resolution) Chicago Stock Exchange, Inc., FINRA, adopt the Consolidated Audit Trail
Investors’ Exchange LLC, Miami Funding Fees, which will require
June 29, 2017. International Securities Exchange, LLC, Industry Members that are FINRA
MIAX PEARL, LLC, NASDAQ BX, Inc., members to pay the CAT Fees
Pursuant to the provisions of Section
Nasdaq GEMX, LLC, Nasdaq ISE, LLC, determined by the Operating
19(b)(1) of the Securities Exchange Act Committee.15 FINRA submits this
of 1934 (‘‘Act’’ or the ‘‘Exchange Act’’) 1 Nasdaq MRX, LLC,4 NASDAQ PHLX
LLC, The NASDAQ Stock Market LLC,
and Rule 19b-4 thereunder,2 notice is 6 15 U.S.C. 78k–1.
New York Stock Exchange LLC, NYSE
hereby given that, on June 19, 2017, 7 17 CFR 242.608.
MKT LLC, NYSE Arca, Inc. and NYSE
Financial Industry Regulatory National, Inc.5 (collectively, the
8 See Letter from the Participants to Brent J.
Authority, Inc. (‘‘FINRA’’) filed with the Fields, Secretary, Commission, dated September 30,
2014; and Letter from Participants to Brent J. Fields,
Securities and Exchange Commission 3 Unless otherwise specified, capitalized terms
Secretary, Commission, dated February 27, 2015.
(‘‘SEC’’ or the ‘‘Commission’’) the used in this rule filing are defined as set forth On December 23, 2015, the Participants submitted
proposed rule change as described in herein or in the Consolidated Audit Trail Funding an amendment to the CAT NMS Plan. See Letter
Fees Rule, the CAT Compliance Rule Series or in from Participants to Brent J. Fields, Secretary,
Items I and II below, which Items have the CAT NMS Plan. Commission, dated December 23, 2015.
been prepared by FINRA. The 4 ISE Gemini, LLC, ISE Mercury, LLC and 9 17 CFR 242.613.
Commission is publishing this notice to International Securities Exchange, LLC have been 10 Securities Exchange Act Release No. 77724
renamed Nasdaq GEMX, LLC, Nasdaq MRX, LLC,
solicit comments on the proposed rule and Nasdaq ISE, LLC, respectively. See Securities
(April 27, 2016), 81 FR 30614 (May 17, 2016).
11 Securities Exchange Act Release No. 79318
change from interested persons. Exchange Act Release No. 80248 (March 15, 2017),
sradovich on DSK3GMQ082PROD with NOTICES
(November 15, 2016), 81 FR 84696 (November 23,
82 FR 14547 (March 21, 2017); Securities Exchange
2016) (‘‘Approval Order’’).
22 In approving the proposed rule change, the Act Release No. 80326 (March 29, 2017), 82 FR 12 The Plan also serves as the limited liability
16460 (April 4, 2017); and Securities Exchange Act
Commission considered the proposal’s impact on company agreement for the Company.
Release No. 80325 (March 29, 2017), 82 FR 16445
efficiency, competition, and capital formation. 15 13 Section 11.1(b) of the CAT NMS Plan.
(April 4, 2017).
U.S.C. 78c(f). 5 National Stock Exchange, Inc. has been renamed 14 See supra note 12 [sic].
23 17 CFR 200.30–3(a)(12).
NYSE National, Inc. See Securities Exchange Act 15 See Securities Exchange Act Release No. 80710
1 15 U.S.C. 78s(b)(1).
Release No. 79902 (January 30, 2017), 82 FR 9258 (May 17, 2017), 82 FR 23629 [sic] (May 23, 2017)
2 17 CFR 240.19b–4. (February 3, 2017). (SR–FINRA–2017–011).
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![Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices 31369
Paper Comments A copy of each application may be Filing Date: The application was filed
• Send paper comments in triplicate obtained via the Commission’s Web site on May 26, 2017.
to Secretary, Securities and Exchange by searching for the file number, or for Applicant’s Address: 1400 Center
Commission, 100 F Street NE., an applicant using the Company name Road, Venice, Florida 34292.
Washington, DC 20549–1090. box, at http://www.sec.gov/search/
search.htm or by calling (202) 551– RiverSource Diversified Income Series,
All submissions should refer to File Inc. [File No. 811–02503]
Number SR–FINRA–2017–020. This file 8090. An order granting each
number should be included on the application will be issued unless the Summary: Applicant seeks an order
subject line if email is used. To help the SEC orders a hearing. Interested persons declaring that it has ceased to be an
Commission process and review your may request a hearing on any investment company. Applicant has
comments more efficiently, please use application by writing to the SEC’s transferred its assets to Columbia
only one method. The Commission will Secretary at the address below and Diversified Bond Fund, a series of
post all comments on the Commission’s serving the relevant applicant with a Columbia Funds Series Trust II and, on
Internet Web site (http://www.sec.gov/ copy of the request, personally or by March 7, 2011, made a final distribution
rules/sro.shtml). Copies of the mail. Hearing requests should be to its shareholders based on net asset
submission, all subsequent received by the SEC by 5:30 p.m. on July value. Expenses of approximately
amendments, all written statements 25, 2017, and should be accompanied $183,001 incurred in connection with
with respect to the proposed rule by proof of service on applicants, in the the reorganization were paid by the
change that are filed with the form of an affidavit or, for lawyers, a applicant’s investment adviser.
Commission, and all written certificate of service. Pursuant to Rule Filing Dates: The application was
communications relating to the 0–5 under the Act, hearing requests filed on December 16, 2016, and
proposed rule change between the should state the nature of the writer’s amended on June 5, 2017.
Commission and any person, other than interest, any facts bearing upon the
Applicant’s Address: 50606
those that may be withheld from the desirability of a hearing on the matter,
Ameriprise Financial Center,
public in accordance with the the reason for the request, and the issues
Minneapolis, Minnesota 55474.
provisions of 5 U.S.C. 552, will be contested. Persons who wish to be
available for Web site viewing and notified of a hearing may request RiverSource Large Cap Series, Inc. [File
printing in the Commission’s Public notification by writing to the No. 811–02111]
Reference Room, 100 F Street NE., Commission’s Secretary.
Summary: Applicant seeks an order
Washington, DC 20549, on official ADDRESSES: The Commission: Secretary, declaring that it has ceased to be an
business days between the hours of U.S. Securities and Exchange investment company. Applicant has
10:00 a.m. and 3:00 p.m. Copies of the Commission, 100 F Street NE., transferred its assets to Columbia Large
filing also will be available for Washington, DC 20549–1090. Core Quantitative Fund, a series of
inspection and copying at the principal FOR FURTHER INFORMATION CONTACT: Hae- Columbia Funds Series Trust II and, on
office of the Exchange. All comments Sung Lee, Attorney-Adviser, at (202) March 7, 2011, made a final distribution
received will be posted without change; 551–7345 or Chief Counsel’s Office at to its shareholders based on net asset
the Commission does not edit personal (202) 551–6821; SEC, Division of value. Expenses of approximately
identifying information from Investment Management, Chief $183,001 incurred in connection with
submissions. You should submit only Counsel’s Office, 100 F Street NE., the reorganization were paid by the
information that you wish to make Washington, DC 20549–8010. applicant’s investment adviser.
available publicly. All submissions
SunAmerica Goldman Sachs Filing Dates: The application was
should refer to File Number SR–FINRA–
Diversified Yield Fund, Inc. [File No. filed on December 16, 2016, and
2017–020, and should be submitted on
811–22869] amended on June 5, 2017.
or before July 27, 2017.
Applicant’s Address: 50606
For the Commission, by the Division of Summary: Applicant, a closed-end
Ameriprise Financial Center,
Trading and Markets, pursuant to delegated investment company, seeks an order
Minneapolis, Minnesota 55474.
authority.22 declaring that it has ceased to be an
Jill M. Peterson, investment company. Applicant has RiverSource Short Term Investments
Assistant Secretary. never made a public offering of its Series, Inc. [File No. 811–21914]
[FR Doc. 2017–14144 Filed 7–5–17; 8:45 am] securities and does not propose to make
a public offering or engage in business Summary: Applicant seeks an order
BILLING CODE 8011–01–P declaring that it has ceased to be an
of any kind.
Filing Date: The application was filed investment company. Applicant has
on May 23, 2017. transferred its assets to Columbia Short-
SECURITIES AND EXCHANGE
Applicant’s Address: Harborside 5, Term Cash Fund, a series of Columbia
COMMISSION
185 Hudson Street, Suite 3300, Jersey Funds Series Trust II and, on March 7,
[Release No. IC–32717]
City, New Jersey 07311. 2011, made a final distribution to its
shareholders based on net asset value.
Notice of Applications for Institutional Investor Trust [File No. Expenses of approximately $183,001
Deregistration Under Section 8(f) of the 811–22429] incurred in connection with the
Investment Company Act of 1940 reorganization were paid by the
Summary: Applicant seeks an order
sradovich on DSK3GMQ082PROD with NOTICES
June 30, 2017. declaring that it has ceased to be an applicant’s investment adviser.
The following is a notice of investment company. On July 27, 2016, Filing Dates: The application was
applications for deregistration under applicant made a liquidating filed on December 16, 2016, and
section 8(f) of the Investment Company distribution to its shareholders, based amended on June 5, 2017.
Act of 1940 for the month of June 2017. on net asset value. No expenses were Applicant’s Address: 50606
incurred in connection with the Ameriprise Financial Center,
22 17 CFR 200.30–3(a)(12). liquidation. Minneapolis, Minnesota 55474.
VerDate Sep<11>2014 18:13 Jul 05, 2017 Jkt 241001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 E:\FR\FM\06JYN1.SGM 06JYN1](https://thefederalregister.org/doc/82_FR_31494/page/4.svg)
Document Created: 2017-07-06 01:04:31
Document Modified: 2017-07-06 01:04:31
| 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 31366 |
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