83 FR 12633 - Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Listing Rules Under Rule 14.11(d)(2)(K)(i) Related to Equity Index-Linked Securities
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 56 (March 22, 2018)
Federal Register Volume 83, Issue 56 (March 22, 2018)
| Page Range | 12633-12635 | |
| FR Document | 2018-05795 |
[Federal Register Volume 83, Number 56 (Thursday, March 22, 2018)] [Notices] [Pages 12633-12635] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-05795] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82895; File No. SR-CboeBZX-2018-020] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Listing Rules Under Rule 14.11(d)(2)(K)(i) Related to Equity Index- Linked Securities March 16, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on March 8, 2018, Cboe BZX Exchange, Inc. (``Exchange'' or ``BZX'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6)(iii) [[Page 12634]] thereunder,\4\ which renders it effective upon filing with the Commission. 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. \3\ 15 U.S.C. 78s(b)(3)(A). \4\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend its listing rules under Rule 14.11(d)(2)(K)(i) related to Equity Index-Linked Securities. The text of the proposed rule change is available at the Exchange's website at www.markets.cboe.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 parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange is submitting this proposal in order to bring its listing rules related to Equity Index-Linked Securities in line with those of NYSE Arca, Inc (``Arca'').\5\ Rule 14.11(d) sets forth certain rules related to the listing and trading of Linked Securities (as defined therein) on the Exchange and Rule 14.11(d)(2)(K)(i) relates specifically to the generic listing standards applicable to Equity Index-Linked Securities.\6\ Specifically, Rule 14.11(d)(2)(K)(i)(a) provides that the index underlying a series of Equity Index-Linked Securities must include at least 10 component securities and meet the requirements of either Rule 14.11(d)(2)(K)(i)(a)(1) or (2). Rule 14.11(d)(2)(K)(i)(a)(1) provides that an index must have been reviewed and approved for the trading of options or other derivatives by the Commission under Section 19(b)(2) of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including comprehensive surveillance sharing agreements for non-U.S. stocks, continue to be satisfied. Rule 14.11(d)(2)(K)(i)(a)(2) provides certain quantitative standards related to the market cap, trading volume, rebalancing, concentration, and surveillance sharing. As noted above, where an index has at least 10 component securities and meets the criteria either Rule 14.11(d)(2)(K)(i)(a)(1) or (2), it meets the initial listing criteria for Equity Index-Linked Securities. Rule 14.11(d)(2)(K)(i)(b) includes the continued listing criteria for Equity Index-Linked Securities and provides that the Exchange will consider suspension and will initiate delisting proceedings where the standards set forth in Rule 14.11(d)(2)(K)(i)(a) are not continuously met, with some additional concentration and trading volume criteria. --------------------------------------------------------------------------- \5\ See Arca Rule 5.2-E(j)(6)(B)(I). \6\ See Securities Exchange Act Release No. 65225 (August 30, 2011), 76 FR 55148 (September 6, 2011) (SR-BATS-2011-018) (Order Approving Proposed Rule Change to Adopt Rules for the Qualification, Listing and Delisting of Companies on the Exchange). --------------------------------------------------------------------------- The Exchange proposes to amend Rule 14.11(d)(2)(K)(i) related to Equity Index-Linked Securities in order to make it substantively identical to the comparable rule on Arca. In particular, the Exchange is proposing to make certain changes to its rules consistent with Arca's rule such that: (i) Derivative Securities Products and Linked Securities will be excluded from several initial and continued listing criteria; (ii) the rule text makes clear that Rule 14.11(d)(2)(K)(i)(a)(1) includes a series of Index Fund Shares approved by the Commission under Section 19(b)(2) of the Act; (iii) the existing trading volume requirement under Rule 14.11(d)(2)(K)(i)(a)(2)(B) is replaced with a more flexible trading volume standard; (iv) rules with standards applicable only to certain index weightings, including equal- dollar, modified equal-dollar, capitalization-weighted, and modified capitalization-weighted, are eliminated; and (v) Rule 14.11(d)(2)(K)(i)(a)(2)(G) provides that securities of a foreign issuer (including when they underlie ADRs) whose primary trading market outside the United States is not a member of the Intermarket Surveillance Group (``ISG'') or a party to a comprehensive surveillance sharing agreement with the Exchange will not in the aggregate represent more than 50% of the dollar weight of the index, and (a) the securities of any one such market may not represent more than 20% of the dollar weight of the index, and (b) the securities of any two such markets may not represent more than 33% of the dollar weight of the index. As noted above, the Exchange believes that these proposed changes are non-controversial because the changes would make the Exchange's listing rules related to Equity Index-Linked Securities substantively identical to the rules of another listing exchange and do not present any new or novel issues that have not been previously considered by the Commission. 2. Statutory Basis The Exchange believes that the proposal is consistent with Section 6(b) of the Act \7\ in general and Section 6(b)(5) of the Act \8\ in particular in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. Specifically, the Exchange believes that the proposal is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f. \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed changes to Rule 14.11(d)(2)(K)(i) related to the listing of Equity Index-Linked Securities on the Exchange remain consistent with the Act because the proposed changes generally constitute minor modifications to the existing listing requirements that do not significantly change the scope or applicability of the listing standards. Further and as noted throughout this filing, the changes will make the Exchange's listing rules for Equity Index-Linked Securities substantively identical to those of Arca. As such, the Exchange believes that the proposal is designed to prevent fraudulent and manipulative acts and practices, 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 because there are no substantive issues raised by this proposal that were not otherwise addressed by the Commission in the approvals of Arca's listing rules related to Equity Index-Linked Securities. [[Page 12635]] 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 that is not necessary or appropriate in furtherance of the purpose of the Act. The Exchange believes that the proposal will allow the Exchange to better compete with Arca by putting the two exchanges on equal footing as it relates to listing standards applicable to Equity Index-Linked Securities. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \9\ and Rule 19b- 4(f)(6) thereunder.\10\ --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 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. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally does not become operative for 30 days after the date of its filing. However, pursuant to Rule 19b-4(f)(6)(iii),\12\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange requests that the Commission waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange represents that waiver of the 30-day operative delay will allow the Exchange to immediately compete with respect to listing new series of Equity Index-Linked Securities on the Exchange. Because the proposed rules previously have been approved by the Commission for, and are substantively identical to those of, another listing exchange, the Commission believes that the proposal promotes competition with respect to the listing and trading of Equity Index-Linked Securities, and does not believe that the proposal raises any novel or unique regulatory issues.\13\ Therefore, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. The Commission hereby waives the 30-day operative delay and designates the proposed rule change operative upon filing.\14\ --------------------------------------------------------------------------- \11\ 17 CFR 240.19b-4(f)(6). \12\ 17 CFR 240.19b-4(f)(6)(iii). \13\ See supra note 5. \14\ For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 change 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 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-CboeBZX-2018-020 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-CboeBZX-2018-020. 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 website (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 website 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-CboeBZX-2018-020, and should be submitted on or before April 12, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-05795 Filed 3-21-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 56 / Thursday, March 22, 2018 / Notices 12633
after the date of publication of the Time’’) pursuant to Rule 161 of the and Exchange Commission
notice in the Federal Register in order Commission’s Rules of Practice 1 to (‘‘Commission’’) pursuant to Section
to facilitate the clearing of the Standard extend to April 12, 2018, the time 11A of the of the Securities Exchange
European Senior Non-Preferred previously provided for the in the Act of 1934 1 (the ‘‘Exchange Act’’) and
Financial Corporate transaction type, Commission’s March 1, 2018, Order Rule 608 thereunder,2 Amendment No.
which the Commission understands Granting Petitions for Review and 4 to the CAT NMS Plan to add a fee
market participants will commence Scheduling Filing of Statements.2 On schedule to the CAT NMS Plan that
trading beginning on March 20, 2018 30 March 15, 2018, Cboe BZX Exchange, would set forth fees to be paid by the
and which are tied to European capital Inc. filed a response stating that it does Participants to fund the Consolidated
and resolution regulations. not object to the Motion for an Audit Trail.3 A Notice of Filing and
Extension of Time. Immediate Effectiveness of Amendment
IV. Conclusion Extensions of time are disfavored No. 4 was published for comment in the
On the basis of the foregoing, the absent a showing of good cause. It Federal Register on January 11, 2018.4
Commission finds that the proposed appears appropriate to grant the The Commission is publishing this
rule change is consistent with the requested extension. Therefore, notice to reflect that on January 11,
requirements of the Act and in It is Ordered, that the Motion for an 2018, prior to the end of the 60-day
particular with the requirements of Extension of Time is hereby Granted. period provided for in Exchange Act
Section 17A of the Act,31 and Rules The time for any party or other person Rule 608(b)(iii), the Participants
17Ad–22(b)(2), (b)((3), (e)(4)(ii), and to file a statement in support of or in withdrew the Amendment.5
(e)(6)(i) thereunder.32 opposition to the action made pursuant
By the Commission.
It Is Therefore Ordered pursuant to to delegated authority is extended from
Section 19(b)(2) of the Act 33 that the March 22, 2018 to April 12, 2018. Eduardo A. Aleman,
proposed rule change (SR–ICEEU–2018– Assistant Secretary.
For the Commission, by its Secretary,
002) be, and hereby is, approved on an pursuant to delegated authority.3 [FR Doc. 2018–05790 Filed 3–21–18; 8:45 am]
accelerated basis.34 Eduardo A. Aleman, BILLING CODE 8011–01–P
For the Commission, by the Division of Assistant Secretary.
Trading and Markets, pursuant to delegated [FR Doc. 2018–05791 Filed 3–21–18; 8:45 am]
authority.35 SECURITIES AND EXCHANGE
BILLING CODE 8011–01–P COMMISSION
Eduardo A. Aleman,
Assistant Secretary.
[Release No. 34–82895; File No. SR-
[FR Doc. 2018–05793 Filed 3–21–18; 8:45 am] SECURITIES AND EXCHANGE CboeBZX–2018–020]
BILLING CODE 8011–01–P COMMISSION
[Release No. 34–82892; File No. 4–698] Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing
SECURITIES AND EXCHANGE Joint Industry Plan; Notice of and Immediate Effectiveness of a
COMMISSION Withdrawal of Amendment No. 4 to the Proposed Rule Change To Amend Its
[Release No. 82896] National Market System Plan Listing Rules Under Rule
Governing the Consolidated Audit Trail 14.11(d)(2)(K)(i) Related to Equity
Order Granting Motion for Extension of Index-Linked Securities
Time March 16, 2018.
March 16, 2018.
I. Introduction
March 16, 2018. Pursuant to Section 19(b)(1) of the
In the Matter of the Cboe BZX Exchange, On December 11, 2017, the Operating Securities Exchange Act of 1934
Inc. for an Order Granting the Approval of Committee for CAT NMS, LLC (the (‘‘Act’’),1 and Rule 19b–4 thereunder,2
Proposed Rule Change to Introduce Cboe ‘‘Company’’), on behalf of the parties to notice is hereby given that on March 8,
Market Close, a Closing Match Process for the National Market System Plan 2018, Cboe BZX Exchange, Inc.
Non-BZX Listed Securities under New Governing the Consolidated Audit Trail (‘‘Exchange’’ or ‘‘BZX’’) filed with the
Exchange Rule 11.28 (File No. SR–BatsBZX– (the ‘‘CAT NMS Plan’’): BOX Options
2017–34); Securities Exchange Act Of 1934.
Securities and Exchange Commission
Exchange LLC, Cboe BYX Exchange, (‘‘Commission’’) the proposed rule
On March 9, 2018, The Nasdaq Stock Inc., Cboe BZX Exchange, Inc., Cboe change as described in Items I and II
Market LLC and NYSE Group, Inc. filed EDGA Exchange, Inc., Cboe EDGX below, which Items have been prepared
a Motion for an Extension of Time to Exchange, Inc., Cboe C2 Exchange, Inc., by the Exchange. The Exchange has
File Statements in Opposition to the Cboe Exchange, Inc., Chicago Stock designated this proposal as a ‘‘non-
Action Made Pursuant to Delegated Exchange, Inc., Financial Industry controversial’’ proposed rule change
Authority (‘‘Motion for an Extension of Regulatory Authority, Inc., Investors’ pursuant to Section 19(b)(3)(A) of the
Exchange LLC, Miami International Act 3 and Rule 19b–4(f)(6)(iii)
30 See IHS Markit iTraxx Europe Rule
Securities Exchange, LLC, MIAX
Announcement, February 6, 2018 (stating that for
iTraxx Europe Series 29, for French bank OpCos
PEARL, LLC, Nasdaq BX, Inc., Nasdaq 1 15 U.S.C. 78k–1.
that qualify for inclusion in the index, the senior GEMX, LLC, Nasdaq ISE, LLC, Nasdaq 2 17 CFR 242.608.
non-preferred reference obligations will be selected MRX, LLC, Nasdaq PHLX LLC, The 3 See Letter from Michael Simon, Chair, CAT
if available). Nasdaq Stock Market LLC, New York NMS Plan Operating Committee, to Brent J. Fields,
31 15 U.S.C. 78q–1. Secretary, Commission, dated December 11, 2017.
Stock Exchange LLC, NYSE American,
daltland on DSKBBV9HB2PROD with NOTICES
32 17 CFR 240.17Ad–22(b)(2), (b)(3), (e)(4)(ii) and 4 See Exchange Act Release No. 82451 (January 5,
(e)(6)(i).
LLC and NYSE Arca, Inc., (the 2018), 83 FR 1399 (January 11, 2018).
33 15 U.S.C. 78s(b)(2). ‘‘Participants’’) filed with the Securities 5 See Letter from Michael Simon, Chair, CAT
34 In approving the proposed rule change, the NMS Plan Operating Committee, to Brent J. Fields,
Commission considered the proposal’s impact on 1 17 CFR 201.161. Secretary, Commission, dated January 10, 2018.
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. 15 2 Exchange Act Release No. 82794 (March 1,
U.S.C. 78c(f). 2018). 2 17 CFR 240.19b–4.
35 17 CFR 200.30–3(a)(12). 3 17 CFR 200.30–7(a)(4). 3 15 U.S.C. 78s(b)(3)(A).
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B. Self-Regulatory Organization’s promotes competition with respect to communications relating to the
Statement on Burden on Competition the listing and trading of Equity Index- proposed rule change between the
The Exchange does not believe that Linked Securities, and does not believe Commission and any person, other than
the proposed rule change will impose that the proposal raises any novel or those that may be withheld from the
any burden on competition that is not unique regulatory issues.13 Therefore, public in accordance with the
necessary or appropriate in furtherance the Commission believes that waiving provisions of 5 U.S.C. 552, will be
of the purpose of the Act. The Exchange the 30-day operative delay is consistent available for website viewing and
believes that the proposal will allow the with the protection of investors and the printing in the Commission’s Public
Exchange to better compete with Arca public interest. The Commission hereby Reference Room, 100 F Street NE,
by putting the two exchanges on equal waives the 30-day operative delay and Washington, DC 20549 on official
footing as it relates to listing standards designates the proposed rule change business days between the hours of
applicable to Equity Index-Linked operative upon filing.14 10:00 a.m. and 3:00 p.m. Copies of the
At any time within 60 days of the filing also will be available for
Securities.
filing of the proposed rule change, the inspection and copying at the principal
C. Self-Regulatory Organization’s Commission summarily may office of the Exchange. All comments
Statement on Comments on the temporarily suspend such rule change if received will be posted without change.
Proposed Rule Change Received From it appears to the Commission that such Persons submitting comments are
Members, Participants, or Others action is: (i) Necessary or appropriate in cautioned that we do not redact or edit
The Exchange has neither solicited the public interest; (ii) for the protection personal identifying information from
nor received written comments on the of investors; or (iii) otherwise in comment submissions. You should
proposed rule change. furtherance of the purposes of the Act. submit only information that you wish
If the Commission takes such action, the to make available publicly. All
III. Date of Effectiveness of the Commission shall institute proceedings submissions should refer to File
Proposed Rule Change and Timing for to determine whether the proposed rule Number SR–CboeBZX–2018–020, and
Commission Action change should be approved or should be submitted on or before April
Because the foregoing proposed rule disapproved. 12, 2018.
change does not: (i) Significantly affect IV. Solicitation of Comments For the Commission, by the Division of
the protection of investors or the public Trading and Markets, pursuant to delegated
Interested persons are invited to authority.15
interest; (ii) impose any significant
submit written data, views, and Eduardo A. Aleman,
burden on competition; and (iii) become
arguments concerning the foregoing,
operative for 30 days from the date on including whether the proposed rule
Assistant Secretary.
which it was filed, or such shorter time change is consistent with the Act. [FR Doc. 2018–05795 Filed 3–21–18; 8:45 am]
as the Commission may designate, it has Comments may be submitted by any of BILLING CODE 8011–01–P
become effective pursuant to Section the following methods:
19(b)(3)(A) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10 Electronic Comments SECURITIES AND EXCHANGE
A proposed rule change filed under • Use the Commission’s internet COMMISSION
Rule 19b–4(f)(6) 11 normally does not comment form (http://www.sec.gov/
become operative for 30 days after the Submission for OMB Review;
rules/sro.shtml); or
date of its filing. However, pursuant to • Send an email to rule-comments@ Comment Request
Rule 19b–4(f)(6)(iii),12 the Commission sec.gov. Please include File Number SR– Upon Written Request Copies Available
may designate a shorter time if such CboeBZX–2018–020 on the subject line. From: Securities and Exchange
action is consistent with the protection Commission, Office of FOIA Services,
of investors and the public interest. The Paper Comments
100 F Street NE, Washington, DC
Exchange requests that the Commission • Send paper comments in triplicate 20549–2736.
waive the 30-day operative delay so that to Secretary, Securities and Exchange
Extension:
the proposal may become operative Commission, 100 F Street NE,
Form F–6, SEC File No. 270–270, OMB
immediately upon filing. The Exchange Washington, DC 20549–1090. Control No. 3235–0292
represents that waiver of the 30-day All submissions should refer to File
operative delay will allow the Exchange Number SR–CboeBZX–2018–020. This Notice is hereby given that, pursuant
to immediately compete with respect to file number should be included on the to the Paperwork Reduction Act of 1995
listing new series of Equity Index- subject line if email is used. To help the (44 U.S.C. 3501 et seq.), the Securities
Linked Securities on the Exchange. Commission process and review your and Exchange Commission
Because the proposed rules previously comments more efficiently, please use (‘‘Commission’’) has submitted to the
Office of Management and Budget this
have been approved by the Commission only one method. The Commission will
request for extension of the previously
for, and are substantively identical to post all comments on the Commission’s
approved collection of information
those of, another listing exchange, the internet website (http://www.sec.gov/
discussed below.
Commission believes that the proposal rules/sro.shtml). Copies of the Form F–6 (17 CFR 239.36) is a form
submission, all subsequent used by foreign companies to register
9 15 U.S.C. 78s(b)(3)(A). amendments, all written statements the offer and sale of American
10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– with respect to the proposed rule Depositary Receipts (ADRs) under the
daltland on DSKBBV9HB2PROD with NOTICES
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
change that are filed with the Securities Act of 1933 (15 U.S.C. 77a et
the proposed rule change at least five business days Commission, and all written seq.). Form F–6 requires disclosure of
prior to the date of filing of the proposed rule information regarding the terms of the
change, or such shorter time as designated by the 13 Seesupra note 5.
Commission. The Exchange has satisfied this 14 For
depository bank, fees charged, and a
purposes only of waiving the 30-day
requirement. operative delay, the Commission has considered the description of the ADRs. No special
11 17 CFR 240.19b–4(f)(6).
proposed rule’s impact on efficiency, competition,
12 17 CFR 240.19b–4(f)(6)(iii). and capital formation. See 15 U.S.C. 78c(f). 15 17 CFR 200.30–3(a)(12).
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Document Created: 2018-03-22 01:25:21
Document Modified: 2018-03-22 01:25:21
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 83 FR 12633 |
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