82 FR 46338 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendment No. 2, Relating to the Listing and Trading of Shares of the Bitcoin Investment Trust Under NYSE Arca Equities Rule 8.201
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 191 (October 4, 2017)
Federal Register Volume 82, Issue 191 (October 4, 2017)
| Page Range | 46338-46339 | |
| FR Document | 2017-21275 |
[Federal Register Volume 82, Number 191 (Wednesday, October 4, 2017)] [Notices] [Pages 46338-46339] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-21275] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81747; File No. SR-NYSEArca-2017-06] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendment No. 2, Relating to the Listing and Trading of Shares of the Bitcoin Investment Trust Under NYSE Arca Equities Rule 8.201 September 28, 2017. On January 25, 2017, NYSE Arca, Inc. (``Exchange'') filed with the Securities and Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade shares of the Bitcoin Investment Trust under NYSE Arca Equities Rule 8.201. The proposed rule change was published for comment in the Federal Register on February 9, 2017.\3\ --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 79955 (Feb. 3, 2017), 82 FR 10086 (Feb. 9, 2017). --------------------------------------------------------------------------- On March 22, 2017, pursuant to Section 19(b)(2) of the Act,\4\ the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change.\5\ On April 6, 2017, the Exchange filed Amendment No. 1 to the proposed rule change. On April 27, 2017, the Commission published notice of Amendment No. 1 and instituted proceedings to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 1.\6\ On May 11, 2017, the Exchange filed Amendment No. 2 to the proposed rule change, and on May 25, 2017, the Commission published notice of Amendment No. 2.\7\ On July 25, 2017, the Commission designated a longer period for Commission action on the proposed rule change.\8\ The Commission has received eighteen comment letters on the proposed rule change.\9\ --------------------------------------------------------------------------- \4\ 15 U.S.C. 78s(b)(2). \5\ See Securities Exchange Act Release No. 80297 (Mar. 22, 2017), 82 FR 15408 (Mar. 28, 2017). \6\ See Securities Exchange Act Release No. 80502 (Apr. 21, 2017), 82 FR 19398 (Apr. 27, 2017). \7\ See Securities Exchange Act Release No. 80729 (May 19, 2017), 82 FR 24185 (May 25, 2017). \8\ See Securities Exchange Act Release No. 81201 (July 25, 2017), 82 FR 33938 (July 31, 2017). The Commission designated October 7, 2017, as the date by which the Commission shall either approve or disapprove the proposed rule change. \9\ See Letters from Joseph Stephen White (Feb. 5, 2017); Anonymous (Feb. 8, 2017) (purportedly from Jeffrey Wilcke, Ethereum Foundation); Mark T. Williams, Finance Professor, Boston University (Mar. 13, 2017); Clark Haley (Apr. 15, 2017); Daniel Warsh, Managing Member, Warberg Asset Management (Jun. 8, 2017); Murray Stahl, Chairman, CEO, CIO, and Hugh Ross, COO, Horizon Kinetics LLC (Jun. 12, 2017); Tim Lewkow, Founder, Wealth Manager (Jun. 14, 2017); Jerry Brito, Executive Director, Coin Center (Jun. 20, 2017); Sheri Kaiserman, Managing Director, Wedbush Securities (Jun. 20, 2017); Douglas M. Yones, Head of Exchange Traded Products, New York Stock Exchange, and Elizabeth King, General Counsel, New York Stock Exchange (Jun. 28, 2017); Arthur Levitt (Jul. 5, 2017); Jeffrey McCarthy, CEO, Exchange Traded Funds, The Bank of New York Mellon (Jul. 7, 2017); Ari Paul, CIO and Managing Partner, Block Tower Capital (Jul. 9, 2017); Dr. James Smith, CEO, Elliptic (Jul. 18, 2017); Prof. Campbell R. Harvey, Fuqua School of Business, Duke University, et al. (Aug. 28, 2017); James J. Angel, Associate Professor of Finance, McDonough School of Business, Georgetown University (Sept. 11, 2017); Matt Corallo (Sept. 11, 2017); Joseph A. Hall, Davis Polk & Wardwell LLP. All comments on the proposed rule change, as well as a copy of the presentation submitted in a meeting with the Commission's staff on July 7, 2017, are available on the Commission's Web site at: https://www.sec.gov/comments/sr-nysearca-2017-06/nysearca201706.htm. --------------------------------------------------------------------------- [[Page 46339]] On September 27, 2017, the Exchange withdrew the proposed rule --------------------------------------------------------------------------- change (SR-NYSEArca-2017-06), as modified by Amendment No. 2. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\10\ --------------------------------------------------------------------------- \10\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-21275 Filed 10-3-17; 8:45 am] BILLING CODE 8011-01-P
![46338 Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices
investors and the purposes of Section ‘‘maintaining or preparing the audit SECURITIES AND EXCHANGE
15B of the Exchange Act. client’s accounting records’’ or COMMISSION
Accordingly, it is so ordered, ‘‘preparing or originating source data
pursuant to Section 15B(a)(4) of the [Release No. 34–81747; File No. SR–
underlying the audit client’s financial NYSEArca–2017–06]
Exchange Act, that any registered statements.’’ In light of the conditions in
municipal advisor is exempt from the areas affected by Hurricane Harvey, Self-Regulatory Organizations; NYSE
requirement to file an annual update to Hurricane Irma and Hurricane Maria, Arca, Inc.; Notice of Withdrawal of a
Form MA with the Commission, as however, we believe that limited relief Proposed Rule Change, as Modified by
required by Section 15B of the Exchange Amendment No. 2, Relating to the
from these prohibitions is warranted for
Act and Rule 15Ba1–5(a)(1) thereunder, Listing and Trading of Shares of the
those registrants and other persons that
where the conditions below are Bitcoin Investment Trust Under NYSE
satisfied. are required to comply with the
independence requirements of the Arca Equities Rule 8.201
Conditions federal securities laws and the September 28, 2017.
(a) The registered municipal advisor Commission’s rules and regulations On January 25, 2017, NYSE Arca, Inc.
is not able to fulfill its obligation to file thereunder and that are affected by (‘‘Exchange’’) filed with the Securities
an annual update to the registered those conditions. The Commission finds and Exchange Commission
municipal advisor’s Form MA within 90 the following exemption to be necessary (‘‘Commission’’), pursuant to Section
days of the end of the registered and appropriate in the public interest 19(b)(1) of the Securities Exchange Act
municipal advisor’s fiscal year due to and consistent with the protection of of 1934 (‘‘Act’’) 1 and Rule 19b–4
Hurricane Harvey, Hurricane Irma or investors. thereunder,2 a proposed rule change to
Hurricane Maria; Accordingly, it is ordered, pursuant to list and trade shares of the Bitcoin
(b) The registered municipal advisor Investment Trust under NYSE Arca
files with the Commission its annual Section 36 of the Exchange Act, that
Equities Rule 8.201. The proposed rule
update to Form MA required to be filed independent certified public
change was published for comment in
during the applicable period of relief on accountants engaged to provide audit the Federal Register on February 9,
or before the applicable deadline set services to registrants and other persons 2017.3
forth in Section I; and required to comply with the On March 22, 2017, pursuant to
(c) In any such annual update to its independence requirements of the Section 19(b)(2) of the Act,4 the
Form MA filing, the registered federal securities laws and the Commission designated a longer period
municipal advisor must disclose that it Commission’s rules and regulations within which to approve the proposed
is relying on this Order and state the thereunder are exempt from the rule change, disapprove the proposed
reasons why, in good faith, it could not requirements of Section 10A(g)(1) of the rule change, or institute proceedings to
file such annual update to Form MA on Exchange Act and Rule 2–01(c)(4)(i) of determine whether to approve or
a timely basis. Regulation S–X, where the conditions disapprove the proposed rule change.5
Registered municipal advisors who below are satisfied. On April 6, 2017, the Exchange filed
are unable to meet a deadline as Amendment No. 1 to the proposed rule
extended by this relief or in need of Conditions change. On April 27, 2017, the
additional assistance, should contact the Commission published notice of
(a) Services provided by the auditor
Office of Municipal Securities at (202) Amendment No. 1 and instituted
551–5680 or munis@sec.gov. are limited to reconstruction of
proceedings to determine whether to
previously existing accounting records approve or disapprove the proposed
VII. Independence—Bookkeeping or that were lost or destroyed as a result of rule change, as modified by Amendment
Other Services Related to the Hurricane Harvey, Hurricane Irma or No. 1.6 On May 11, 2017, the Exchange
Accounting Records or Financial Hurricane Maria and such services cease filed Amendment No. 2 to the proposed
Statements of the Audit Client as soon as the audit client’s lost or rule change, and on May 25, 2017, the
The conditions in the areas affected destroyed records are reconstructed, its Commission published notice of
by Hurricane Harvey, Hurricane Irma financial systems are fully operational Amendment No. 2.7 On July 25, 2017,
and Hurricane Maria, including and the client can effect an orderly and the Commission designated a longer
displacement of individuals, the efficient transition to management or period for Commission action on the
destruction of property and loss or other service provider; and proposed rule change.8 The Commission
destruction of corporate records, may (b) Services provided by the auditor to has received eighteen comment letters
require extraordinary efforts to its audit client pursuant to this Order on the proposed rule change.9
reconstruct lost or destroyed accounting
are subject to pre-approval by the audit
records. The Commission understands 1 15 U.S.C. 78s(b)(1).
client’s audit committee as required by 2 17 CFR 240.19b–4.
that in these particularly challenging
Rule 2–01(c)(7) of Regulation S–X. 3 See Securities Exchange Act Release No. 79955
situations an audit client may look to its
(Feb. 3, 2017), 82 FR 10086 (Feb. 9, 2017).
auditor for assistance in reconstruction Auditors or audit clients who are in 4 15 U.S.C. 78s(b)(2).
of its accounting records because of the need of additional assistance or have 5 See Securities Exchange Act Release No. 80297
auditor’s knowledge of the client’s other questions relating to auditor (Mar. 22, 2017), 82 FR 15408 (Mar. 28, 2017).
financial systems and records. Under independence, should contact the Office 6 See Securities Exchange Act Release No. 80502
Section 10A(g)(1) of the Exchange Act of the Chief Accountant at (202) 551– (Apr. 21, 2017), 82 FR 19398 (Apr. 27, 2017).
sradovich on DSK3GMQ082PROD with NOTICES
7 See Securities Exchange Act Release No. 80729
and Rule 2–01(c)(4)(i) of Regulation S– 5300 or OCARequest@sec.gov. (May 19, 2017), 82 FR 24185 (May 25, 2017).
X, auditors are prohibited from By the Commission. 8 See Securities Exchange Act Release No. 81201
providing bookkeeping or other services (July 25, 2017), 82 FR 33938 (July 31, 2017). The
Brent J. Fields, Commission designated October 7, 2017, as the date
relating to the accounting records of the
Secretary. by which the Commission shall either approve or
audit client, and in Rule 2–01(c)(4)(i) of disapprove the proposed rule change.
Regulation S–X, these prohibited [FR Doc. 2017–21284 Filed 10–3–17; 8:45 am] 9 See Letters from Joseph Stephen White (Feb. 5,
services are described as including BILLING CODE 8011–01–P 2017); Anonymous (Feb. 8, 2017) (purportedly from
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![Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices 46339
On September 27, 2017, the Exchange SUPPLEMENTARY INFORMATION: Although developing the evidentiary record in
withdrew the proposed rule change 5 U.S.C. 552(a)(1) and (a)(2) do not disability claims, claimants and their
(SR–NYSEArca–2017–06), as modified require us to publish this SSR, we are appointed representatives have the
by Amendment No. 2. doing so in accordance with 20 CFR primary responsibility under the Act to
For the Commission, by the Division of 402.35(b)(1). provide evidence in support of their
Trading and Markets, pursuant to delegated Through SSRs, we make available to disability or blindness claims.
authority.10 the public precedential decisions Consequently, we expect claimants and
Eduardo A. Aleman, relating to the Federal old-age, their representatives to make good faith
Assistant Secretary. survivors, disability, supplemental efforts to ensure that we receive
[FR Doc. 2017–21275 Filed 10–3–17; 8:45 am]
security income, and special veterans’ complete evidence.
BILLING CODE 8011–01–P
benefits programs. We may base SSRs Under the Act, we cannot find that an
on determinations or decisions made at individual is disabled ‘‘unless [he or
all levels of administrative adjudication, she] furnishes such medical and other
Federal court decisions, Commissioner’s evidence of the existence thereof as the
SOCIAL SECURITY ADMINISTRATION
decisions, opinions of the Office of the Commissioner of Social Security may
[Docket No. SSA–2017–0048] General Counsel, or other require.’’ 1 This statutory provision
interpretations of the law and places primary responsibility for the
Social Security Ruling, SSR 17–4p; regulations. development of evidence on the
Titles II and XVI: Responsibility for Although SSRs do not have the same claimant. Consistent with the claimant’s
Developing Written Evidence force and effect as statutes or statutory obligation to provide us with
AGENCY: Social Security Administration. regulations, they are binding on all evidence regarding his or her disability
ACTION: Notice of Social Security Ruling components of the Social Security or blindness claim, our regulations
(SSR). Administration. 20 CFR 402.35(b)(1). require a claimant to submit or inform
This SSR will remain in effect until us about all evidence known to him or
SUMMARY: We are providing notice of we publish a notice in the Federal her that relates to whether or not he or
SSR 17–4p. This SSR clarifies our Register that rescinds it, or until we she is disabled or blind.2 At the hearings
responsibilities and the responsibilities publish a new SSR that replaces or level, a claimant generally must submit
of a claimant and a claimant’s modifies it. or inform us about written evidence at
representative to develop evidence and (Catalog of Federal Domestic Assistance, least 5 business days before the date of
other information in disability and Programs Nos. 96.001, Social Security— his or her scheduled hearing.3 We
blindness claims. Disability Insurance; 96.002, Social adopted this 5-day requirement in
FOR FURTHER INFORMATION CONTACT: Security—Retirement Insurance; 96.004, December 2016 and implemented it in
Patrick McGuire, Office of Appellate Social Security—Survivors Insurance;
96.006—Supplemental Security Income.)
May 2017, to address unprecedented
Operations, Social Security workload challenges.4 As we explained
Administration, 5107 Leesburg Pike, Nancy A. Berryhill, in the preamble to our notice of
Falls Church, VA 22041, (703) 605– Acting Commissioner of Social Security. proposed rulemaking, ‘‘[w]e cannot
7100. For information on eligibility or afford to continue postponing hearing
filing for benefits, call our national toll- POLICY INTERPRETATION RULING
proceedings because the record is not
free number, 1–800–772–1213 or TTY SSR 17–4p: Titles II and XVI: complete at the time of the hearing.’’ 5
1–800–325–0778, or visit our Internet Responsibility for Developing Written A representative’s duty to submit
site, Social Security Online, at http:// Evidence evidence is derivative of the
www.socialsecurity.gov. Purpose claimant’s; 6 however, representatives
must also follow our rules of conduct
Jeffrey Wilcke, Ethereum Foundation); Mark T. This Ruling clarifies our
and standards of responsibility for
Williams, Finance Professor, Boston University responsibilities and those of the
(Mar. 13, 2017); Clark Haley (Apr. 15, 2017); Daniel representatives.7 Those rules impose an
claimant and the claimant’s
Warsh, Managing Member, Warberg Asset affirmative duty on a representative to
Management (Jun. 8, 2017); Murray Stahl, representative to develop evidence and
act with reasonable promptness to help
Chairman, CEO, CIO, and Hugh Ross, COO, Horizon other information in disability and
obtain the information or evidence that
Kinetics LLC (Jun. 12, 2017); Tim Lewkow, blindness claims under titles II and XVI
Founder, Wealth Manager (Jun. 14, 2017); Jerry the claimant must submit and forward
of the Social Security Act (Act). This
Brito, Executive Director, Coin Center (Jun. 20, the information or evidence to us as
2017); Sheri Kaiserman, Managing Director, Ruling applies at all levels of our
soon as practicable.8 A representative
Wedbush Securities (Jun. 20, 2017); Douglas M. administrative review process, as
Yones, Head of Exchange Traded Products, New also has an affirmative duty to assist a
described below.
York Stock Exchange, and Elizabeth King, General claimant in complying, as soon as
Counsel, New York Stock Exchange (Jun. 28, 2017); Citations (Authority) practicable, with our requests for
Arthur Levitt (Jul. 5, 2017); Jeffrey McCarthy, CEO,
Exchange Traded Funds, The Bank of New York Sections 206(a), 223(d), and 1614(a) of information or evidence.9
Mellon (Jul. 7, 2017); Ari Paul, CIO and Managing the Social Security Act, as amended; 20 This Ruling explains the requirement
Partner, Block Tower Capital (Jul. 9, 2017); Dr.
CFR 404.935, 404.970, 404.1512, to submit or inform us about evidence
James Smith, CEO, Elliptic (Jul. 18, 2017); Prof. and clarifies who has the final
Campbell R. Harvey, Fuqua School of Business, 404.1513, 404.1593, 404.1594, 404.1614,
Duke University, et al. (Aug. 28, 2017); James J. 404.1740, 404.1745, 416.912, 416.913,
Angel, Associate Professor of Finance, McDonough 416.993, 416.994, 416.1014, 416.1435, 1 Sections 223(d)(5)(A) and 1614(a)(3)(H)(i) of the
School of Business, Georgetown University (Sept. Act, 42 USC 423(d)(5)(A) and 1382c(a)(3)(H)(i).
sradovich on DSK3GMQ082PROD with NOTICES
11, 2017); Matt Corallo (Sept. 11, 2017); Joseph A.
416.1470, 416.1540, and 416.1545. 2 20 CFR 404.1512(a) and 416.912(a).
Hall, Davis Polk & Wardwell LLP. All comments on Introduction 3 20 CFR 404.935(a) and 416.1435(a).
the proposed rule change, as well as a copy of the 4 81 FR 90987.
presentation submitted in a meeting with the We need complete evidentiary records 5 81 FR 45079, 45080 (2016).
Commission’s staff on July 7, 2017, are available on to make accurate, consistent disability 6 20 CFR 404.1710(a) and 416.1510(a).
the Commission’s Web site at: https://www.sec.gov/
comments/sr-nysearca-2017-06/ determinations and decisions at each 7 20 CFR 404.1740 and 416.1540.
nysearca201706.htm. level of our administrative review 8 20 CFR 404.1740(b)(1) and 416.1540(b)(1).
10 17 CFR 200.30–3(a)(12). process. Although we take a role in 9 20 CFR 404.1740(b)(2) and 416.1540(b)(2).
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Document Created: 2018-10-25 09:52:32
Document Modified: 2018-10-25 09:52:32
| 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 46338 |
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