82_FR_43438 82 FR 43261 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay Implementation of SR-ISE-2017-32

82 FR 43261 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay Implementation of SR-ISE-2017-32

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 177 (September 14, 2017)

Page Range43261-43262
FR Document2017-19477

Federal Register, Volume 82 Issue 177 (Thursday, September 14, 2017)
[Federal Register Volume 82, Number 177 (Thursday, September 14, 2017)]
[Notices]
[Pages 43261-43262]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-19477]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81555; File No. SR-ISE-2017-80]


Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Delay 
Implementation of SR-ISE-2017-32

September 8, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on August 28, 2017, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``SEC'' or 
``Commission'') the proposed rule change as described in Items I, II, 
and III 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 delay the implementation of SR-ISE-2017-
32, and to make non-substantive, technical amendments to the new By-
Laws filed as part of that rule change proposal.
    The text of the proposed rule change is available on the Exchange's 
Web site at www.ise.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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of the proposal is to delay the implementation of SR-
ISE-2017-32 (hereinafter, ``Governance Proposal'') and to make non-
substantive, technical amendments to the new By-Laws filed as part of 
that rule change. The changes are described in detail below.
    The Exchange received approval of its Governance Proposal on July 
31, 2017.\3\ Within that rule change, the Exchange proposed to 
implement the Governance Proposal no later than by the end of the third 
quarter of 2017 (i.e., by September 30, 2017).\4\ The Exchange notes 
that its affiliates, Nasdaq GEMX, LLC and Nasdaq MRX, LLC have 
submitted or will submit nearly identical proposed rule changes, but 
stated or will state in their proposals that they intend to implement 
the proposed rule changes no later than by the end of the fourth 
quarter of 2017 (i.e., by December 31, 2017).\5\ As such, the Exchange 
proposes to delay the implementation of the Governance Proposal from a 
date no later than September 30, 2017 to a date no later than December 
31, 2017 in order to align the implementation of the Governance 
Proposal with its affiliates. The Exchange will announce the specific 
date in advance through a Regulatory Alert.
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    \3\ See Securities Exchange Act Release No. 81263 (July 31, 
2017), 82 FR 36497 (August 4, 2017) (SR-ISE-2017-32) (hereinafter, 
``Governance Approval Order'').
    \4\ Id.
    \5\ See Securities Exchange Act Release No. 81422 (August 17, 
2017), 82 FR 40026 (August 23, 2017) (SR-GEMX-2017-37) (Notice of 
Filing of Proposed Rule Change to Adopt New Corporate Governance).
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    The Exchange also proposes to make minor clarifications to the 
proposed By-Laws that were filed as part of the Governance Proposal. 
First, the Exchange proposes to amend the last sentence in proposed By-
Law Article III, Section 5(c) by changing the current reference therein 
to Rule 4200 of the Rules of the NASDAQ Stock Market LLC to Rule 5605. 
The definition of ``independent director'' is set forth in Rule 5605 of 
the NASDAQ Stock Market LLC, and not Rule 4200, so the Exchange seeks 
to correct this reference in its proposed By-Laws. The Exchange also 
proposes to correct certain typos in the same sentence to indicate that 
the portion therein that starts with ``the Regulatory Oversight 
Committee shall consist of three members . . .'' is a separate, new 
sentence.
    In addition, the Exchange proposes to replace the first sentence in 
proposed By-Law Article VIII, Section 1 with the following: ``These By-
Laws may be altered, amended, or repealed, or new By-Laws may be 
adopted, by a resolution adopted by the Board at any regular or special 
meeting of the Board or a written agreement executed and delivered by 
the Company Member.'' By-Law Article VIII, Section 1, which contains 
By-Law amendment provisions, is intended to authorize amendments to the 
By-Laws by either the Company Member (i.e., International Securities 
Exchange Holdings, Inc.) or the majority of the Exchange's Board of 
Directors.\6\ For one, Section 1's title itself states ``By the Company 
Member or Board'' to indicate that either the Company Member or the 
Board is authorized to amend the proposed By-

[[Page 43262]]

Laws in the manner set forth in Section 1. Furthermore, the Exchange 
has always intended to allow amendments to the By-Laws by either the 
Company Member or the Board, as evidenced by the discussions of this 
provision in both the Governance Approval Order and Notice of 
Filing.\7\ The existing language in Section 1 itself, however, provides 
that the By-Laws may be amended by the Company Member and by the 
majority of the Exchange's Board of Directors, so the Exchange is now 
seeking to make the non-substantive change from ``and'' to ``or'' in 
Section 1 to reflect the rule's original intent.
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    \6\ See Governance Approval Order at 36504 and accompanying 
footnote 113. See also Securities Exchange Act Release No. 80530 
(April 26, 2017), 82 FR 20508 (May 2, 2017) (SR-ISE-2017-32) 
(hereinafter, ``Notice of Filing'') at 20521. The Exchange states in 
both the Governance Approval Order and Notice of Filing that 
amendments to the proposed By-Laws may be enacted by ``either the 
Sole LLC Member or the vote of a majority of the whole Board.''
    \7\ Id.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\8\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\9\ in particular, in that it is designed to 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 general to protect investors and the public interest, 
by permitting the Exchange to align the implementation date of its 
Governance Proposal with its affiliates Nasdaq GEMX, LLC and Nasdaq 
MRX, LLC, and to make non-substantive corrections to the proposed By-
Laws. The Exchange's proposal does not significantly affect the 
protection of investors or the public interest because this proposal 
does not make any substantive changes to the Governance Proposal 
itself; the only changes are to extend the implementation date and to 
make non-substantive corrections to the proposed By-Laws, as discussed 
above. As noted above, the Exchange will provide advance notice to 
members with respect to the specific implementation date through a 
Regulatory Alert. In addition, the Exchange believes that the non-
substantive amendments to the By-Laws proposed herein will alleviate 
potential confusion as to the applicability of the Exchange's rules, 
which will protect investors and the public interest.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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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 Exchange's proposal does 
not impose any significant burden on competition because the Governance 
Proposal and the proposed non-substantive changes to the By-Laws will 
apply to all market participants in a uniform manner once implemented.

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)(iii) of the Act \10\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\11\
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    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
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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: (i) 
Necessary or appropriate in the public interest; (ii) for the 
protection of investors; or (iii) 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-ISE-2017-80 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ISE-2017-80. 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 such 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-ISE-2017-80, and should be 
submitted on or before October 5, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-19477 Filed 9-13-17; 8:45 am]
 BILLING CODE 8011-01-P



                                                                                 Federal Register / Vol. 82, No. 177 / Thursday, September 14, 2017 / Notices                                                43261

                                                    www.prc.gov, Docket Nos. MC2017–195,                       change as described in Items I, II, and               implement the proposed rule changes
                                                    CP2017–296.                                                III below, which Items have been                      no later than by the end of the fourth
                                                                                                               prepared by the Exchange. The                         quarter of 2017 (i.e., by December 31,
                                                    Elizabeth A. Reed,
                                                                                                               Commission is publishing this notice to               2017).5 As such, the Exchange proposes
                                                    Attorney, Corporate and Postal Business Law.               solicit comments on the proposed rule                 to delay the implementation of the
                                                    [FR Doc. 2017–19469 Filed 9–13–17; 8:45 am]                change from interested persons.                       Governance Proposal from a date no
                                                    BILLING CODE 7710–12–P                                                                                           later than September 30, 2017 to a date
                                                                                                               I. Self-Regulatory Organization’s                     no later than December 31, 2017 in
                                                                                                               Statement of the Terms of Substance of                order to align the implementation of the
                                                    POSTAL SERVICE                                             the Proposed Rule Change                              Governance Proposal with its affiliates.
                                                                                                                  The Exchange proposes to delay the                 The Exchange will announce the
                                                    Product Change—Priority Mail                               implementation of SR–ISE–2017–32,                     specific date in advance through a
                                                    Negotiated Service Agreement                               and to make non-substantive, technical                Regulatory Alert.
                                                    AGENCY: Postal ServiceTM.                                  amendments to the new By-Laws filed                      The Exchange also proposes to make
                                                    ACTION: Notice.
                                                                                                               as part of that rule change proposal.                 minor clarifications to the proposed By-
                                                                                                                  The text of the proposed rule change               Laws that were filed as part of the
                                                    SUMMARY:    The Postal Service gives                       is available on the Exchange’s Web site               Governance Proposal. First, the
                                                    notice of filing a request with the Postal                 at www.ise.com, at the principal office               Exchange proposes to amend the last
                                                    Regulatory Commission to add a                             of the Exchange, and at the                           sentence in proposed By-Law Article III,
                                                    domestic shipping services contract to                     Commission’s Public Reference Room.                   Section 5(c) by changing the current
                                                    the list of Negotiated Service                                                                                   reference therein to Rule 4200 of the
                                                                                                               II. Self-Regulatory Organization’s
                                                    Agreements in the Mail Classification                                                                            Rules of the NASDAQ Stock Market LLC
                                                                                                               Statement of the Purpose of, and
                                                    Schedule’s Competitive Products List.                                                                            to Rule 5605. The definition of
                                                                                                               Statutory Basis for, the Proposed Rule
                                                    DATES: Date of notice required under 39                                                                          ‘‘independent director’’ is set forth in
                                                                                                               Change
                                                    U.S.C. 3642(d)(1): September 14, 2017.                                                                           Rule 5605 of the NASDAQ Stock Market
                                                                                                                  In its filing with the Commission, the             LLC, and not Rule 4200, so the
                                                    FOR FURTHER INFORMATION CONTACT:                           Exchange included statements                          Exchange seeks to correct this reference
                                                    Elizabeth A. Reed, 202–268–3179.                           concerning the purpose of and basis for               in its proposed By-Laws. The Exchange
                                                    SUPPLEMENTARY INFORMATION: The                             the proposed rule change and discussed                also proposes to correct certain typos in
                                                    United States Postal Service® hereby                       any comments it received on the                       the same sentence to indicate that the
                                                    gives notice that, pursuant to 39 U.S.C.                   proposed rule change. The text of these               portion therein that starts with ‘‘the
                                                    3642 and 3632(b)(3), on September 8,                       statements may be examined at the                     Regulatory Oversight Committee shall
                                                    2017, it filed with the Postal Regulatory                  places specified in Item IV below. The                consist of three members . . .’’ is a
                                                    Commission a Request of the United                         Exchange has prepared summaries, set                  separate, new sentence.
                                                    States Postal Service to Add Priority                      forth in sections A, B, and C below, of                  In addition, the Exchange proposes to
                                                    Mail Contract 354 to Competitive                           the most significant aspects of such                  replace the first sentence in proposed
                                                    Product List. Documents are available at                   statements.                                           By-Law Article VIII, Section 1 with the
                                                    www.prc.gov, Docket Nos. MC2017–196,                                                                             following: ‘‘These By-Laws may be
                                                    CP2017–297.                                                A. Self-Regulatory Organization’s
                                                                                                               Statement of the Purpose of, and                      altered, amended, or repealed, or new
                                                    Elizabeth A. Reed,                                         Statutory Basis for, the Proposed Rule                By-Laws may be adopted, by a
                                                    Attorney, Corporate and Postal Business Law.               Change                                                resolution adopted by the Board at any
                                                                                                                                                                     regular or special meeting of the Board
                                                    [FR Doc. 2017–19471 Filed 9–13–17; 8:45 am]
                                                                                                               1. Purpose                                            or a written agreement executed and
                                                    BILLING CODE 7710–12–P
                                                                                                                  The purpose of the proposal is to                  delivered by the Company Member.’’
                                                                                                               delay the implementation of SR–ISE–                   By-Law Article VIII, Section 1, which
                                                                                                               2017–32 (hereinafter, ‘‘Governance                    contains By-Law amendment
                                                    SECURITIES AND EXCHANGE                                                                                          provisions, is intended to authorize
                                                                                                               Proposal’’) and to make non-substantive,
                                                    COMMISSION                                                                                                       amendments to the By-Laws by either
                                                                                                               technical amendments to the new By-
                                                    [Release No. 34–81555; File No. SR–ISE–                    Laws filed as part of that rule change.               the Company Member (i.e., International
                                                    2017–80]                                                   The changes are described in detail                   Securities Exchange Holdings, Inc.) or
                                                                                                               below.                                                the majority of the Exchange’s Board of
                                                    Self-Regulatory Organizations; Nasdaq                         The Exchange received approval of its              Directors.6 For one, Section 1’s title
                                                    ISE, LLC; Notice of Filing and                             Governance Proposal on July 31, 2017.3                itself states ‘‘By the Company Member
                                                    Immediate Effectiveness of Proposed                        Within that rule change, the Exchange                 or Board’’ to indicate that either the
                                                    Rule Change To Delay Implementation                        proposed to implement the Governance                  Company Member or the Board is
                                                    of SR–ISE–2017–32                                          Proposal no later than by the end of the              authorized to amend the proposed By-
                                                    September 8, 2017.                                         third quarter of 2017 (i.e., by September
                                                                                                                                                                       5 See Securities Exchange Act Release No. 81422
                                                       Pursuant to Section 19(b)(1) of the                     30, 2017).4 The Exchange notes that its
                                                                                                                                                                     (August 17, 2017), 82 FR 40026 (August 23, 2017)
                                                    Securities Exchange Act of 1934 (the                       affiliates, Nasdaq GEMX, LLC and                      (SR–GEMX–2017–37) (Notice of Filing of Proposed
                                                                                                               Nasdaq MRX, LLC have submitted or
asabaliauskas on DSKBBXCHB2PROD with NOTICES




                                                    ‘‘Act’’),1 and Rule 19b–4 thereunder,2                                                                           Rule Change to Adopt New Corporate Governance).
                                                    notice is hereby given that on August                      will submit nearly identical proposed                   6 See Governance Approval Order at 36504 and

                                                                                                               rule changes, but stated or will state in             accompanying footnote 113. See also Securities
                                                    28, 2017, Nasdaq ISE, LLC (‘‘ISE’’ or                                                                            Exchange Act Release No. 80530 (April 26, 2017),
                                                    ‘‘Exchange’’) filed with the Securities                    their proposals that they intend to                   82 FR 20508 (May 2, 2017) (SR–ISE–2017–32)
                                                    and Exchange Commission (‘‘SEC’’ or                                                                              (hereinafter, ‘‘Notice of Filing’’) at 20521. The
                                                                                                                  3 See Securities Exchange Act Release No. 81263
                                                                                                                                                                     Exchange states in both the Governance Approval
                                                    ‘‘Commission’’) the proposed rule                          (July 31, 2017), 82 FR 36497 (August 4, 2017) (SR–    Order and Notice of Filing that amendments to the
                                                                                                               ISE–2017–32) (hereinafter, ‘‘Governance Approval      proposed By-Laws may be enacted by ‘‘either the
                                                      1 15   U.S.C. 78s(b)(1).                                 Order’’).                                             Sole LLC Member or the vote of a majority of the
                                                      2 17   CFR 240.19b–4.                                       4 Id.                                              whole Board.’’



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                                                    43262                         Federal Register / Vol. 82, No. 177 / Thursday, September 14, 2017 / Notices

                                                    Laws in the manner set forth in Section                     the proposed non-substantive changes                      and Exchange Commission, 100 F Street
                                                    1. Furthermore, the Exchange has                            to the By-Laws will apply to all market                   NE., Washington, DC 20549–1090.
                                                    always intended to allow amendments                         participants in a uniform manner once                     All submissions should refer to File
                                                    to the By-Laws by either the Company                        implemented.                                              Number SR–ISE–2017–80. This file
                                                    Member or the Board, as evidenced by                                                                                  number should be included on the
                                                                                                                C. Self-Regulatory Organization’s
                                                    the discussions of this provision in both                                                                             subject line if email is used. To help the
                                                                                                                Statement on Comments on the
                                                    the Governance Approval Order and                                                                                     Commission process and review your
                                                                                                                Proposed Rule Change Received From
                                                    Notice of Filing.7 The existing language                                                                              comments more efficiently, please use
                                                                                                                Members, Participants, or Others
                                                    in Section 1 itself, however, provides                                                                                only one method. The Commission will
                                                    that the By-Laws may be amended by                            No written comments were either                         post all comments on the Commission’s
                                                    the Company Member and by the                               solicited or received.                                    Internet Web site (http://www.sec.gov/
                                                    majority of the Exchange’s Board of                         III. Date of Effectiveness of the                         rules/sro.shtml). Copies of the
                                                    Directors, so the Exchange is now                           Proposed Rule Change and Timing for                       submission, all subsequent
                                                    seeking to make the non-substantive                         Commission Action                                         amendments, all written statements
                                                    change from ‘‘and’’ to ‘‘or’’ in Section 1                                                                            with respect to the proposed rule
                                                    to reflect the rule’s original intent.                         Because the foregoing proposed rule
                                                                                                                change does not: (i) Significantly affect                 change that are filed with the
                                                    2. Statutory Basis                                          the protection of investors or the public                 Commission, and all written
                                                                                                                interest; (ii) impose any significant                     communications relating to the
                                                       The Exchange believes that its
                                                                                                                burden on competition; and (iii) become                   proposed rule change between the
                                                    proposal is consistent with Section 6(b)
                                                                                                                operative for 30 days from the date on                    Commission and any person, other than
                                                    of the Act,8 in general, and furthers the
                                                                                                                which it was filed, or such shorter time                  those that may be withheld from the
                                                    objectives of Section 6(b)(5) of the Act,9
                                                                                                                as the Commission may designate, it has                   public in accordance with the
                                                    in particular, in that it is designed to
                                                                                                                become effective pursuant to Section                      provisions of 5 U.S.C. 552, will be
                                                    promote just and equitable principles of
                                                                                                                19(b)(3)(A)(iii) of the Act 10 and                        available for Web site viewing and
                                                    trade, to remove impediments to and
                                                                                                                subparagraph (f)(6) of Rule 19b–4                         printing in the Commission’s Public
                                                    perfect the mechanism of a free and
                                                                                                                thereunder.11                                             Reference Room, 100 F Street NE.,
                                                    open market and a national market
                                                                                                                   At any time within 60 days of the                      Washington, DC 20549 on official
                                                    system, and, in general to protect
                                                                                                                filing of the proposed rule change, the                   business days between the hours of
                                                    investors and the public interest, by
                                                                                                                Commission summarily may                                  10:00 a.m. and 3:00 p.m. Copies of such
                                                    permitting the Exchange to align the
                                                                                                                temporarily suspend such rule change if                   filing also will be available for
                                                    implementation date of its Governance
                                                                                                                it appears to the Commission that such                    inspection and copying at the principal
                                                    Proposal with its affiliates Nasdaq
                                                                                                                action is: (i) Necessary or appropriate in                office of the Exchange. All comments
                                                    GEMX, LLC and Nasdaq MRX, LLC, and
                                                                                                                the public interest; (ii) for the protection              received will be posted without change;
                                                    to make non-substantive corrections to
                                                                                                                of investors; or (iii) otherwise in                       the Commission does not edit personal
                                                    the proposed By-Laws. The Exchange’s
                                                                                                                furtherance of the purposes of the Act.                   identifying information from
                                                    proposal does not significantly affect the
                                                                                                                If the Commission takes such action, the                  submissions. You should submit only
                                                    protection of investors or the public
                                                                                                                Commission shall institute proceedings                    information that you wish to make
                                                    interest because this proposal does not
                                                                                                                to determine whether the proposed rule                    available publicly. All submissions
                                                    make any substantive changes to the
                                                                                                                should be approved or disapproved.                        should refer to File Number SR–ISE–
                                                    Governance Proposal itself; the only
                                                                                                                                                                          2017–80, and should be submitted on or
                                                    changes are to extend the                                   IV. Solicitation of Comments                              before October 5, 2017.
                                                    implementation date and to make non-
                                                    substantive corrections to the proposed                       Interested persons are invited to                         For the Commission, by the Division of
                                                    By-Laws, as discussed above. As noted                       submit written data, views, and                           Trading and Markets, pursuant to delegated
                                                    above, the Exchange will provide                            arguments concerning the foregoing,                       authority.12
                                                    advance notice to members with respect                      including whether the proposed rule                       Eduardo A. Aleman,
                                                    to the specific implementation date                         change is consistent with the Act.                        Assistant Secretary.
                                                    through a Regulatory Alert. In addition,                    Comments may be submitted by any of                       [FR Doc. 2017–19477 Filed 9–13–17; 8:45 am]
                                                    the Exchange believes that the non-                         the following methods:
                                                                                                                                                                          BILLING CODE 8011–01–P
                                                    substantive amendments to the By-Laws                       Electronic Comments
                                                    proposed herein will alleviate potential                      • Use the Commission’s Internet
                                                    confusion as to the applicability of the                                                                              SECURITIES AND EXCHANGE
                                                                                                                comment form (http://www.sec.gov/
                                                    Exchange’s rules, which will protect                                                                                  COMMISSION
                                                                                                                rules/sro.shtml); or
                                                    investors and the public interest.                            • Send an email to rule-comments@                       [Investment Company Act Release No.
                                                    B. Self-Regulatory Organization’s                           sec.gov. Please include File Number SR–                   32812; 812–14781]
                                                    Statement on Burden on Competition                          ISE–2017–80 on the subject line.
                                                                                                                                                                          Innovator ETFs Trust, et al.
                                                      The Exchange does not believe that                        Paper Comments
                                                    the proposed rule change will impose                                                                                  September 11, 2017.
                                                                                                                  • Send paper comments in triplicate
                                                    any burden on competition not                               to Brent J. Fields, Secretary, Securities                 AGENCY: Securities and Exchange
asabaliauskas on DSKBBXCHB2PROD with NOTICES




                                                    necessary or appropriate in furtherance                                                                               Commission (‘‘Commission’’).
                                                    of the purposes of the Act. The                               10 15  U.S.C. 78s(b)(3)(A)(iii).                        ACTION: Notice.
                                                    Exchange’s proposal does not impose                           11 17  CFR 240.19b–4(f)(6). In addition, Rule 19b–
                                                    any significant burden on competition                       4(f)(6) requires a self-regulatory organization to give     Notice of an application for an order
                                                    because the Governance Proposal and                         the Commission written notice of its intent to file       under section 6(c) of the Investment
                                                                                                                the proposed rule change at least five business days      Company Act of 1940 (the ‘‘Act’’) for an
                                                                                                                prior to the date of filing of the proposed rule
                                                      7 Id.
                                                                                                                change, or such shorter time as designated by the         exemption from sections 2(a)(32),
                                                      8 15    U.S.C. 78f(b).                                    Commission. The Exchange has satisfied this
                                                      9 15    U.S.C. 78f(b)(5).                                 requirement.                                                12 17   CFR 200.30–3(a)(12).



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Document Created: 2017-09-13 23:49:19
Document Modified: 2017-09-13 23:49:19
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 43261 

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