83 FR 2234 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade Shares of the Cboe Vest S&P 500® Dividend Aristocrats® Target Income Index ETF Under the ETF Series Solutions Trust Under Rule 14.11(c)(3)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 10 (January 16, 2018)
Federal Register Volume 83, Issue 10 (January 16, 2018)
| Page Range | 2234-2237 | |
| FR Document | 2018-00533 |
[Federal Register Volume 83, Number 10 (Tuesday, January 16, 2018)] [Notices] [Pages 2234-2237] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-00533] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82476; File No. SR-BATSBZX-2017-58] Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade Shares of the Cboe Vest S&P 500[supreg] Dividend Aristocrats[supreg] Target Income Index ETF Under the ETF Series Solutions Trust Under Rule 14.11(c)(3) January 9, 2018. I. Introduction On September 19, 2017, Bats BZX Exchange, Inc. (``Exchange'' or ``BZX'') filed with the Securities and Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade shares (``Shares'') of the Cboe Vest S&P 500[supreg] Dividend Aristocrats[supreg] Target Income Index ETF (``Fund'') under the ETF Series Solutions Trust (``Trust''). The proposed [[Page 2235]] rule change was published for comment in the Federal Register on October 11, 2017.\3\ On November 17,2017, 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 disapprove the proposed rule change.\5\ On December 29, 2017, the Exchange filed Amendment No. 1 to the proposed rule change. On January 2, 2018, the Exchange filed Amendment No. 2 to the proposed rule change, which replaced the original filing, as amended by Amendment No. 1, in its entirety.\6\ The Commission received no comments on the proposed rule change. This order approves the proposed rule change, as modified by Amendment No. 2. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 81815 (October 4, 2017), 82 FR 47265. \4\ 15 U.S.C. 78s(b)(2). \5\ See Securities Exchange Act Release No. 82115, 82 FR 55891 (November 24, 2017). The Commission designated January 9, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. \6\ In Amendment No. 2, the Exchange: (1) Updated information regarding the Fund's registration statement; (2) made representations regarding the fire walls to be implemented by the Fund's adviser and the provider of the underlying index; (3) disclosed the investment objective of the Fund; (4) provided additional information regarding the underlying index; (5) supplemented its description of the Fund's permitted investments; (6) described the availability of price information for the Shares and the Fund's permitted investments; (7) made certain representations regarding surveillance; (8) represented that the Fund's portfolio holdings will be disclosed daily on the issuer's website; (9) stated that the Exchange deems the Shares to be equity securities; (10) disclosed the minimum number of Shares that will be outstanding at the commencement of trading; (11) identified circumstances in which trading in the Shares may and will be halted; and (12) made other technical amendments. Amendment No. 2 is available at https://www.sec.gov/comments/sr-batsbzx-2017-58/batsbzx201758-2869571-161745.pdf. Because Amendment No. 2 does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, Amendment No. 2 is not subject to notice and comment. --------------------------------------------------------------------------- II. Description of the Proposal \7\ --------------------------------------------------------------------------- \7\ Additional information regarding the Trust, the Fund, the underlying index, and the Shares, including investment strategies, risks, creation and redemption procedures, fees, portfolio holdings, disclosure policies, calculation of the NAV, distributions, and taxes, among other things, can be found in Amendment No. 2, supra note 6, and the Registration Statement, infra note 8. --------------------------------------------------------------------------- The Exchange proposes to list and trade the Shares pursuant to its Rule 14.11(c)(3), which governs the listing and trading of Index Fund Shares on the Exchange.\8\ The Shares do not qualify for generic listing because the index underlying the Shares includes derivatives, rather than consisting exclusively of ``U.S. Component Stocks'' (as defined in BZX Rule 14.11(c)(1)(D)) or ``U.S. Component Stocks and cash,'' as required by BZX Rule 14.11(c)(3)(A)(i). --------------------------------------------------------------------------- \8\ According to the Exchange, the Trust filed with the Commission a registration statement on Form N-1A under the Securities Act of 1993 relating to the Fund (File Nos. 333-179562 and 811-22668) (``Registration Statement''). According to the Exchange, the Commission has not yet issued an order granting exemptive relief to the Trust under the Investment Company Act of 1940 (15 U.S.C. 80a-1) applicable to the activities of the Fund. The Exchange represents that the Fund will not be listed on the Exchange until such an order is issued and any conditions contained therein are satisfied. --------------------------------------------------------------------------- The Funds' adviser, Cboe Vest Financial, LLC (the ``Adviser''), and index provider, Chicago Board Options Exchange (``Cboe Options'' or the ``Index Provider''), are not registered as broker-dealers, but are affiliated with a broker-dealer. The Index Provider has implemented and will maintain a ``fire wall'' with respect to such broker-dealer and its personnel regarding access to information concerning the composition and/or changes to the Index (as defined below). In addition, Index Provider personnel who make decisions regarding the Index composition or methodology are subject to procedures designed to prevent the use and dissemination of material nonpublic information regarding the Index, pursuant to BZX Rule 14.11(c)(3)(B)(iii). The Adviser has also implemented and will maintain a ``fire wall'' with respect to such broker-dealer and its personnel regarding access to information concerning the composition and/or changes to the portfolio. In addition, Adviser personnel who make decisions regarding a Fund's portfolio are subject to procedures designed to prevent the use and dissemination of material nonpublic information regarding a Fund's portfolio. In the event that (a) the Adviser becomes registered as a broker-dealer or newly affiliated with another broker-dealer; or (b) any new adviser or sub-adviser is a registered broker-dealer or becomes affiliated with a broker-dealer; it will implement a fire wall with respect to its relevant personnel or such broker-dealer affiliate, as applicable, regarding access to information concerning the composition and/or changes to the portfolio, and will be subject to procedures designed to prevent the use and dissemination of material non-public information regarding such portfolio. A. The Index The Fund will track the Cboe S&P 500[supreg] Dividend Aristocrats[supreg] Target Income Index (``Index''). The Index is composed of two parts: (1) An equal-weighted portfolio of the stocks contained in the S&P 500 Dividend Aristocrats Index \9\ (``Aristocrat Stocks'') that have options that trade on a national securities exchange; and (2) a rolling series of short weekly or monthly call options on each of the Aristocrat Stocks (``Covered Calls'').\10\ The equity component of the Index is rebalanced (i.e., weights are reset to equal-weighted) quarterly effective after the close of the last business day of each January, April, July, and October and reconstituted (i.e., Aristocrat Stocks are added and deleted according to the Index rules) annually effective after the close of the last business day of each January. --------------------------------------------------------------------------- \9\ According to the Exchange, there are currently 51 stocks in the Index and at each annual reconstitution the minimum number of constituent stocks is 40. \10\ All of the options contracts held by the Fund will trade on markets that are a member of Intermarket Surveillance Group (``ISG'') or affiliated with a member of ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement. --------------------------------------------------------------------------- B. The Fund's Principal Investments The Fund would invest all, or substantially all, of its assets in the component securities that make up the Index. Under Normal Market Conditions,\11\ at least 80% of the Fund's total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund will hold only: U.S. exchange-listed equity securities; FLEX options listed on a U.S. national securities exchange overlying other exchange-listed equity securities or U.S equity indexes; standardized options listed on a U.S. national securities exchange overlying exchange-listed equity securities or U.S. equity indexes; cash; and cash equivalents. --------------------------------------------------------------------------- \11\ ``Normal Market Conditions'' is defined in BZX Rule 14.11(i)(3)(E). --------------------------------------------------------------------------- C. The Fund's Non-Principal Investments The Fund would hold up to 20% of its assets in instruments that are not included in the Index, including only the following: U.S. exchange- listed ETFs that provide broad-based exposure to U.S. large cap stocks, U.S. exchange-listed FLEX and/or U.S. exchange-listed standardized options on such ETFs, U.S. exchange-listed FLEX and/or U.S. exchange- listed standardized options on the S&P 500 Index, and cash and cash equivalents.\12\ --------------------------------------------------------------------------- \12\ For purposes of this proposal, cash equivalents include short-term instruments with maturities of less than three months, including: (i) U.S. Government securities, including bills, notes, and bonds differing as to maturity and rates of interest, which are either issued or guaranteed by the U.S. Treasury or by U.S. Government agencies or instrumentalities; (ii) certificates of deposit issued against funds deposited in a bank or savings and loan association; (iii) bankers acceptances, which are short-term credit instruments used to finance commercial transactions; (iv) repurchase agreements and reverse repurchase agreements; (v) bank time deposits, which are monies kept on deposit with banks or savings and loan associations for a stated period of time at a fixed rate of interest; (vi) commercial paper, which are short-term unsecured promissory notes; and (vii) money market funds. --------------------------------------------------------------------------- [[Page 2236]] III. Discussion and Commission Findings After careful review, the Commission finds that the Exchange's proposal to list and trade the Shares, as modified by Amendment No. 2, is consistent with the Exchange Act and the rules and regulations thereunder applicable to a national securities exchange.\13\ In particular, the Commission finds that the proposal to list and trade the Shares on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the Exchange Act,\14\ which sets forth Congress's finding that it is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to assure the availability to brokers, dealers, and investors of information with respect to quotations for, and transactions in, securities. According to the Exchange, quotation and last-sale information for the Shares will be available through the Consolidated Tape Association, and information regarding the previous day's closing price and trading volume for the Shares will be published daily in the financial section of newspapers. --------------------------------------------------------------------------- \13\ In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). \14\ 15 U.S.C. 78k-1(a)(1)(C)(iii). --------------------------------------------------------------------------- The Commission also finds that the proposed rule change is consistent with Section 6(b)(5) of the Exchange Act,\15\ which requires, among other things, that the Exchange's rules be 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. The Commission believes that the proposal to list and trade the Shares is reasonably designed to promote fair disclosure of information that may be necessary to price the Shares appropriately. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange deems the Shares to be equity securities,\16\ and therefore trading in the Shares will be subject to the Exchange's existing rules governing the trading of equity securities. The Exchange represents that the Shares and the Index will satisfy, on an initial and continued listing basis, all of the generic listing standards other than BZX Rule 14.11(c)(3)(A)(i), and will satisfy all other applicable requirements for Index Fund Shares under BZX Rule 14.11(c). --------------------------------------------------------------------------- \16\ See Amendment No. 2, supra note 6, at 11. --------------------------------------------------------------------------- The Index value will be widely disseminated by one or more major market data vendors at least every 15 seconds during the Exchange's Regular Trading Hours.\17\ Further, an Intraday Indicative Value for the Shares, updated at least every 15 seconds, will be disseminated during the Exchange's Regular Trading Hours.\18\ The portfolio of instruments held by the Fund will be disclosed daily on the Fund's website.\19\ --------------------------------------------------------------------------- \17\ See BZX Rule 14.11(c)(3)(B)(ii)(a). The Exchange's ``Regular Trading Hours'' are between 9:30 a.m. and 4:00 p.m. Eastern Time. See BZX Rule 1.5(w). \18\ See BZX Rule 14.11(c)(3)(C). \19\ See BZX Rule 14.11(c)(1)(B)(iv). --------------------------------------------------------------------------- Quotation and last sale information for standardized options will be available via the Options Price Reporting Authority. RFQ information for FLEX Options will be available directly from the listing exchange. Last-sale information for FLEX Options will be available via the Options Price Reporting Authority. The intra-day, closing and settlement prices of exchange-traded options (both standardized and FLEX Options) will be readily available from the options exchanges, automated quotation systems, published or other public sources, or online information services such as Bloomberg or Reuters. Price information on Treasury bills and other cash equivalents is available from major broker-dealer firms or market data vendors, as well as from automated quotation systems, published or other public sources, or online information services. The Commission also believes that the proposal is designed to prevent trading when a reasonable degree of transparency cannot be assured. The Exchange states that trading in the Shares may be halted for market conditions or for reasons that, in the view of the Exchange, make trading inadvisable. Similarly, trading in the Shares will be halted where there is an interruption to the Intraday Indicative Value being disseminated at least every 15 seconds during Regular Trading Hours and such interruption persists past the trading day in which it occurred.\20\ The Exchange will obtain a representation from the issuer of the Shares that the NAV per Share will be calculated daily and made available to all market participants at the same time.\21\ If the Exchange becomes aware that the NAV for the Shares is not being disseminated to all market participants at the same time or the daily public website disclosure of portfolio holdings does not occur, the Exchange shall halt trading in the Shares.\22\ --------------------------------------------------------------------------- \20\ See Amendment No. 2, supra note 6, at 11. \21\ See BZX Rule 14.11(c)(9)(A)(ii). \22\ See BZX Rule 14.11(c)(1)(b)(iv). --------------------------------------------------------------------------- To support this proposal, the Exchange has made the following representations: (1) The Exchange has appropriate rules to facilitate transactions in the Shares during all trading sessions.\23\ --------------------------------------------------------------------------- \23\ See Amendment No. 2, supra note 6, at 11. --------------------------------------------------------------------------- (2) The Exchange or FINRA, on behalf of the Exchange, will communicate as needed regarding trading in the Shares and exchange- traded options contracts with other markets and other entities that are members of the ISG and may obtain trading information regarding trading in the Shares and exchange-traded options contracts from such markets and other entities. The Exchange is also able to access, as needed, trade information for certain fixed income instruments reported to FINRA's Trade Reporting and Compliance Engine. The Exchange may obtain information regarding trading in the Shares and exchange-traded options contracts from markets and other entities that are members of ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement. In addition, the Exchange also has a general policy prohibiting the distribution of material, non-public information by its employees.\24\ --------------------------------------------------------------------------- \24\ See id. at 11-12. --------------------------------------------------------------------------- (3) All of the instruments held by the Fund, other than cash equivalents, will be U.S. exchange-listed and will trade on markets that are a member of the ISG or affiliated with a member of ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement.\25\ --------------------------------------------------------------------------- \25\ See id. at 10, 15. --------------------------------------------------------------------------- (4) For initial and continued listing, the Fund must be in compliance with Rule 10A-3 under the Exchange Act.\26\ --------------------------------------------------------------------------- \26\ See id. at 11. --------------------------------------------------------------------------- (5) A minimum of 100,000 Shares will be outstanding at the commencement of trading on the Exchange.\27\ --------------------------------------------------------------------------- \27\ See id. --------------------------------------------------------------------------- (6) The Fund will not be listed on the Exchange until the Commission has issued an order granting exemptive relief to the Trust under the Investment Company Act of 1940 applicable to the activities of the Fund and any conditions contained therein are satisfied.\28\ --------------------------------------------------------------------------- \28\ See id. at 4 n.3. --------------------------------------------------------------------------- [[Page 2237]] All statements and representations made in this filing regarding the index composition, the description of the portfolio or reference assets, limitations on portfolio holdings or reference assets, dissemination and availability of index, reference asset, and intraday indicative values, and the applicability of Exchange rules specified in this filing shall constitute continued listing requirements for the Fund. The issuer has represented to the Exchange that it will advise the Exchange of any failure by the Fund or the Shares to comply with the continued listing requirements, and, pursuant to its obligations under Section 19(g)(1) of the Act, the Exchange will surveil for compliance with the continued listing requirements. If the Fund or the Shares are not in compliance with the applicable listing requirements, the Exchange will commence delisting procedures under BZX Rule 14.12. This approval order is based on all of the Exchange's representations, including those set forth above and in Amendment No. 2. For the foregoing reasons, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Exchange Act \29\ and Section 11A(a)(1)(C)(iii) of the Exchange Act \30\ and the rules and regulations thereunder applicable to a national securities exchange. --------------------------------------------------------------------------- \29\ 15 U.S.C. 78f(b)(5). \30\ 15 U.S.C. 78k-1(a)(1)(C)(iii). --------------------------------------------------------------------------- IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Exchange Act,\31\ that the proposed rule change (SR-BATSBZX-2017-58), as modified by Amendment No. 2, be, and hereby is, approved. --------------------------------------------------------------------------- \31\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\32\ --------------------------------------------------------------------------- \32\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-00533 Filed 1-12-18; 8:45 am] BILLING CODE 8011-01-P
![2234 Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices
September 7, 2017; November 21, 2017; Amendment Nos.: 302 (Unit 1), 326 are listed in the Safety Evaluations (SEs)
and December 18, 2017. (Unit 2), and 286 (Unit 3). A publicly- enclosed with the amendments.
Brief description of amendments: The available version is in ADAMS under Renewed Facility Operating License
amendments revised the licensing basis Accession No. ML17317A422; Nos. DPR–33, DPR–52, DPR–68, DPR–
of FNP to support a full scope documents related to these amendments 77, DPR–79 and Facility Operating
application of an Alternative Source are listed in the Safety Evaluation License Nos, NPF–90 and NPF–96:
Term methodology and modified enclosed with the amendments. Amendments revised the licenses.
Technical Specifications (TSs) 3.7.10, Renewed Facility Operating License Date of initial notice in Federal
3.9.3, and TS 5.5.18, consistent with Nos. DPR–33, DPR–52, and DPR–68: Register: June 19, 2017 (82 FR 27891).
Technical Specifications Task Force Amendments revised the licenses. The supplemental letter dated July 7,
(TSTF) Travelers TSTF–448–A, Date of initial notice in Federal 2017, provided additional information
‘‘Control Room Habitability,’’ Revision Register: September 5, 2017 (82 FR that clarified the application, did not
3, and TSTF–312, ‘‘Administratively 41997). The supplemental letters dated expand the scope of the application as
Control Containment Penetrations.’’ September 18 and October 23, 2017, originally noticed, and did not change
Date of issuance: December 20, 2017. provided additional information that the staff’s original proposed no
Effective date: As of the date of clarified the application, did not expand significant hazards consideration
issuance and shall be implemented the scope of the application as originally determination as published in the
within 120 days of issuance. noticed, and did not change the staff’s Federal Register.
Amendment Nos.: 216 (Unit 1) and original proposed no significant hazards The Commission’s related evaluation
213 (Unit 2). A publicly-available consideration determination as of the amendment is contained in SEs
version is in ADAMS under Accession published in the Federal Register. dated December 22, 2017.
No. ML17271A265; documents related The Commission’s related evaluations No significant hazards consideration
to these amendments are listed in the of the amendments are contained in comments received: No.
Safety Evaluation enclosed with the Safety Evaluations dated December 19, Dated at Rockville, Maryland, on January 8,
amendments. 2017. 2018.
Renewed Facility Operating License
No significant hazards consideration For the Nuclear Regulatory Commission.
Nos. NPF–2 and NPF–8: The
comments received: No. Kathryn M. Brock,
amendments revised the Renewed
Facility Operating Licenses and TSs. Tennessee Valley Authority (TVA) Acting Director, Division of Operating Reactor
Date of initial notice in Federal Docket Nos. 50–259, 50–260, 50–296, Licensing, Office of Nuclear Reactor
Register: January 3, 2017 (82 FR 160). Regulation.
and 72–052, Browns Ferry Nuclear Plant
The supplemental letters dated May 23, (BFN), Units 1, 2, and 3, Limestone [FR Doc. 2018–00386 Filed 1–12–18; 8:45 am]
2017; June 8, 2017; September 7, 2017; County, Alabama BILLING CODE 7590–01–P
November 21, 2017; and December 18,
TVA Docket Nos. 50–327, 50–328, and
2017, provided additional information
72–034, Sequoyah Nuclear Plant (SQN),
that clarified the application, did not SECURITIES AND EXCHANGE
Units 1 and 2, Hamilton County,
expand the scope of the application as COMMISSION
Tennessee
originally noticed, and did not change
TVA Docket Nos. 50–390, 50–391, and [Release No. 34–82476; File No. SR–
the NRC staff’s original proposed no BATSBZX–2017–58]
significant hazards consideration 72–1048, Watts Bar Nuclear Plant
determination as published in the (WBN), Units 1 and 2, Rhea County, Self-Regulatory Organizations; Bats
Federal Register. Tennessee BZX Exchange, Inc.; Order Approving
The Commission’s related evaluation Date of amendment request: January a Proposed Rule Change, as Modified
of the amendments is contained in a 4, 2017, as supplemented by letter dated by Amendment No. 2, To List and
Safety Evaluation dated December 20, July 7, 2017. Trade Shares of the Cboe Vest S&P
2017. 500® Dividend Aristocrats® Target
Brief description of amendments: The
No significant hazards consideration Income Index ETF Under the ETF
amendments revised TVA Emergency
comments received: No. Series Solutions Trust Under Rule
Plans for the above nuclear plants.
Tennessee Valley Authority, Docket Specifically, they adopted the NRC- 14.11(c)(3)
Nos. 50–259, 50–260, and 50–296, endorsed Radiological Emergency Plan January 9, 2018.
Browns Ferry Nuclear Plant, Units 1, 2, Emergency Action Level schemes
and 3 (BFN), Limestone County, developed by the Nuclear Energy I. Introduction
Alabama Institute (NEI 99–01, Revision 6, On September 19, 2017, Bats BZX
Date of amendment request: June 7, ‘‘Development of Emergency Action Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’)
2017. As supplemented by letters dated Levels for Non-Passive Reactors’’). filed with the Securities and Exchange
September 18 and October 23, 2017. Date of issuance: December 22, 2017. Commission (‘‘Commission’’), pursuant
Brief description of amendment: The Effective date: As of the date of to Section 19(b)(1) of the Securities
amendments revised fire protection issuance and shall be implemented Exchange Act of 1934 (‘‘Act’’ or
license condition 2.C.(13) for Unit 1, within 180 days from the date of its ‘‘Exchange Act’’) 1 and Rule 19b–4
license condition 2.C.(14) for Unit 2, issuance or July 3, 2018, whichever thereunder,2 a proposed rule change to
and license condition 2.C.(7) for Unit 3. comes later. list and trade shares (‘‘Shares’’) of the
daltland on DSKBBV9HB2PROD with NOTICES
Date of issuance: December 19, 2017. Amendment Nos.: BFN, 303 (Unit 1), Cboe Vest S&P 500® Dividend
Effective date: As of the date of 327 (Unit 2), and 287 (Unit 3); SQN, 339 Aristocrats® Target Income Index ETF
issuance and shall be implemented as (Unit 1) and 332 (Unit 2); and WBN, 118 (‘‘Fund’’) under the ETF Series
indicated in Items 2 and 3 under (Unit 1) and 18 (Unit 2). A publicly- Solutions Trust (‘‘Trust’’). The proposed
‘‘Transition License Conditions’’ of the available version is in ADAMS under
Operating Licenses, as shown in the Accession No. ML17289A032; 1 15 U.S.C. 78s(b)(1).
attachment to the license amendments. documents related to these amendments 2 17 CFR 240.19b–4.
VerDate Sep<11>2014 22:48 Jan 12, 2018 Jkt 244001 PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\16JAN1.SGM 16JAN1](https://thefederalregister.org/doc/83_FR_2244/page/1.svg)
![Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices 2237
All statements and representations 100 F Street NE, Washington, DC Dated: January 9, 2018.
made in this filing regarding the index 20549–2736. Eduardo A. Aleman,
composition, the description of the Extension: Assistant Secretary.
portfolio or reference assets, limitations Form 8–K. [FR Doc. 2018–00496 Filed 1–12–18; 8:45 am]
on portfolio holdings or reference assets, BILLING CODE 8011–01–P
dissemination and availability of index, Notice is hereby given that, pursuant
reference asset, and intraday indicative to the Paperwork Reduction Act of 1995
values, and the applicability of (44 U.S.C. 3501 et seq.), the Securities SECURITIES AND EXCHANGE
Exchange rules specified in this filing and Exchange Commission COMMISSION
shall constitute continued listing (‘‘Commission’’) is soliciting comments
on the collection of information [Release No. 34–82475; File No. SR–
requirements for the Fund. The issuer
summarized below. The Commission CboeBZX–2017–018]
has represented to the Exchange that it
will advise the Exchange of any failure plans to submit this existing collection
of information to the Office of Self-Regulatory Organizations; Cboe
by the Fund or the Shares to comply BZX Exchange, Inc.; Notice of Filing
with the continued listing requirements, Management and Budget for extension
and approval. and Immediate Effectiveness of a
and, pursuant to its obligations under Proposed Rule Change Related to Fees
Section 19(g)(1) of the Act, the Exchange Form 8–K (17 CFR 249.308) is filed by for the BZX Depth Market Data Product
will surveil for compliance with the issuers to satisfy their current reporting
continued listing requirements. If the obligations pursuant to Sections 13 and January 9, 2018.
Fund or the Shares are not in 15(d) of the Securities Exchange Act of Pursuant to Section 19(b)(1) of the
compliance with the applicable listing 1934 (15 U.S.C. 78m and 78o(d)) in Securities Exchange Act of 1934 (the
requirements, the Exchange will connection with the occurrence of ‘‘Act’’),1 and Rule 19b–4 thereunder,2
commence delisting procedures under significant corporate events. The notice is hereby given that on December
BZX Rule 14.12. This approval order is purpose of Form 8–K is to provide 27, 2017, Cboe BZX Exchange, Inc. (the
based on all of the Exchange’s investors with prompt disclosure of ‘‘Exchange’’ or ‘‘BZX’’) filed with the
representations, including those set material information so that investors Securities and Exchange Commission
forth above and in Amendment No. 2. will be able to make investment and (the ‘‘Commission’’) the proposed rule
For the foregoing reasons, the voting decisions better informed and change as described in Items I, II, and
Commission finds that the proposed receive information more timely. We III below, which Items have been
rule change is consistent with Section estimate that Form 8–K takes 5 hours prepared by the Exchange. The
6(b)(5) of the Exchange Act 29 and per response and is filed by 121,600 Exchange has designated the proposed
Section 11A(a)(1)(C)(iii) of the Exchange responses annually. We estimate that rule change as one establishing or
Act 30 and the rules and regulations 75% of the 5 hours per response (3.75 changing a member due, fee, or other
thereunder applicable to a national hours) is prepared by the issuer for a charge imposed by the Exchange under
securities exchange. total annual reporting burden of 456,000 Section 19(b)(3)(A)(ii) of the Act 3 and
hours (3.75 hours per response x Rule 19b–4(f)(2) thereunder,4 which
IV. Conclusion 121,600 responses). renders the proposed rule change
It is therefore ordered, pursuant to Written comments are invited on: (a) effective upon filing with the
Section 19(b)(2) of the Exchange Act,31 Whether this collection of information Commission. The Commission is
that the proposed rule change (SR– is necessary for the proper performance publishing this notice to solicit
BATSBZX–2017–58), as modified by of the functions of the agency, including comments on the proposed rule change
Amendment No. 2, be, and hereby is, whether the information will have from interested persons.
approved. practical utility; (b) the accuracy of the
I. Self-Regulatory Organization’s
For the Commission, by the Division of agency’s estimate of the burden imposed
Statement of the Terms of Substance of
Trading and Markets, pursuant to delegated by the collection of information; (c)
the Proposed Rule Change
authority.32 ways to enhance the quality, utility, and
Eduardo A. Aleman, clarity of the information collected; and The Exchange filed a proposal to
(d) ways to minimize the burden of the amend the Market Data section of its fee
Assistant Secretary.
collection of information on schedule to introduce new fees for Non-
[FR Doc. 2018–00533 Filed 1–12–18; 8:45 am]
respondents, including through the use Display Usage of BZX Depth.
BILLING CODE 8011–01–P The text of the proposed rule change
of automated collection techniques or
other forms of information technology. is available at the Exchange’s website at
Consideration will be given to www.markets.cboe.com, at the principal
SECURITIES AND EXCHANGE
comments and suggestions submitted in office of the Exchange, and at the
COMMISSION
writing within 60 days of this Commission’s Public Reference Room.
[SEC File No. 270–50, OMB Control No. publication. II. Self-Regulatory Organization’s
3235–0060] An agency may not conduct or Statement of the Purpose of, and
sponsor, and a person is not required to Statutory Basis for, the Proposed Rule
Proposed Collection; Comment respond to, a collection of information Change
Request unless it displays a currently valid
In its filing with the Commission, the
Upon Written Request Copies Available control number.
Exchange included statements
daltland on DSKBBV9HB2PROD with NOTICES
From: Securities and Exchange Please direct your written comment to concerning the purpose of and basis for
Commission, Office of FOIA Services, Pamela Dyson, Director/Chief the proposed rule change and discussed
Information Officer, Securities and
29 15 U.S.C. 78f(b)(5). Exchange Commission, c/o Remi Pavlik- 1 15 U.S.C. 78s(b)(1).
30 15 U.S.C. 78k–1(a)(1)(C)(iii). Simon, 100 F Street NE, Washington, 2 17 CFR 240.19b–4.
31 15 U.S.C. 78s(b)(2). DC 20549 or send an email to: PRA_ 3 15 U.S.C. 78s(b)(3)(A)(ii).
32 17 CFR 200.30–3(a)(12). Mailbox@sec.gov. 4 17 CFR 240.19b–4(f)(2).
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Document Created: 2018-01-13 02:02:30
Document Modified: 2018-01-13 02:02:30
| 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 | 83 FR 2234 |
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