83 FR 28483 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend FINRA Rule 6433 To Adopt the OTC Quotation Tier Size Pilot as Permanent

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 118 (June 19, 2018)

Page Range		28483-28484
FR Document		2018-13081

Federal Register, Volume 83 Issue 118 (Tuesday, June 19, 2018)

[Federal Register Volume 83, Number 118 (Tuesday, June 19, 2018)]
[Notices]
[Pages 28483-28484]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-13081]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83422; File No. SR-FINRA-2018-015]


Self-Regulatory Organizations; Financial Industry Regulatory 
Authority, Inc.; Notice of Designation of a Longer Period for 
Commission Action on a Proposed Rule Change To Amend FINRA Rule 6433 To 
Adopt the OTC Quotation Tier Size Pilot as Permanent

June 13, 2018.
    On April 20, 2018, Financial Industry Regulatory Authority, Inc. 
(``FINRA'')

[[Page 28484]]

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 
amend FINRA Rule 6433 to adopt the OTC quotation tier size pilot as 
permanent. The proposed rule change was published for comment in the 
Federal Register on May 7, 2018.\3\ The Commission has received one 
comment letter on the proposed rule change.\4\
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 83129 (April 30, 
2018), 83 FR 20131.
    \4\ See Letter from Eugene P. Torpey, Chief Compliance Officer, 
Vandham Securities Corp. (May 10, 2018). All comments on the 
proposed rule change are available on the Commission's website at: 
https://www.sec.gov/comments/sr-finra-2018-015/finra2018015.htm.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is June 21, 2018. The Commission is extending this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates August 5, 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 (File No. SR-
FINRA-2018-015).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-13081 Filed 6-18-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 118 / Tuesday, June 19, 2018 / Notices 28483

QQQ, and EWJ.15 Furthermore, as the other options exchanges will file All submissions should refer to File
previously mentioned, the Commission similar proposals with the Commission. Number SR–BX–2018–022. This file
specifically approved a proposal by the number should be included on the
C. Self-Regulatory Organization’s
Exchange to increase the position and subject line if email is used. To help the
Statement on Comments on the
exercise limits for options on QQQ from Proposed Rule Change Received From Commission process and review your
900,000 contracts on the same side of Members, Participants, or Others comments more efficiently, please use
the market to 1,800,000 contracts on the only one method. The Commission will
same side of the market; similar to the No written comments were either post all comments on the Commission’s
current proposal for options on SPY.16 solicited or received. internet website (http://www.sec.gov/
The Exchange also notes that SPY is III. Date of Effectiveness of the rules/sro.shtml). Copies of the
more liquid than QQQ.17 Proposed Rule Change and Timing for submission, all subsequent
Commission Action amendments, all written statements
Lastly, the Commission expressed the
with respect to the proposed rule
belief that implementing higher position Because the foregoing proposed rule
change that are filed with the
and exercise limits may bring additional change does not: (i) Significantly affect
Commission, and all written
depth and liquidity without increasing the protection of investors or the public
communications relating to the
concerns regarding intermarket interest; (ii) impose any significant
proposed rule change between the
manipulation or disruption of the burden on competition; and (iii) become
Commission and any person, other than
options or the underlying securities.18 operative for 30 days from the date on
those that may be withheld from the
The Exchange’s existing surveillance which it was filed, or such shorter time
public in accordance with the
and reporting safeguards are designed to as the Commission may designate, it has
provisions of 5 U.S.C. 552, will be
deter and detect possible manipulative become effective pursuant to Section
available for website viewing and
behavior which might arise from 19(b)(3)(A)(iii) of the Act 21 and
printing in the Commission’s Public
increasing position and exercise limits subparagraph (f)(6) of Rule 19b–4
Reference Room, 100 F Street NE,
(increased as compared to the 900,000 thereunder.22
At any time within 60 days of the Washington, DC 20549, on official
limit in place prior to the SPY Pilot business days between the hours of
Program).19 filing of the proposed rule change, the
Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the
B. Self-Regulatory Organization’s temporarily suspend such rule change if filing also will be available for
Statement on Burden on Competition it appears to the Commission that such inspection and copying at the principal
action is: (i) Necessary or appropriate in office of the Exchange. All comments
The Exchange does not believe that the public interest; (ii) for the protection received will be posted without change.
the proposed rule change will impose of investors; or (iii) otherwise in Persons submitting comments are
any burden on competition that is not furtherance of the purposes of the Act. cautioned that we do not redact or edit
necessary or appropriate in furtherance If the Commission takes such action, the personal identifying information from
of the purposes of the Act. The Commission shall institute proceedings comment submissions. You should
Exchange believes the entire proposal is to determine whether the proposed rule submit only information that you wish
consistent with Section (6)(b)(8) of the should be approved or disapproved. to make available publicly. All
Act 20 in that it does not impose any submissions should refer to File
burden on competition that is not IV. Solicitation of Comments Number SR–BX–2018–022 and should
necessary or appropriate in furtherance Interested persons are invited to be submitted on or before July 10, 2018.
of the purposes of the Act. On the submit written data, views, and For the Commission, by the Division of
contrary, the Exchange believes the arguments concerning the foregoing, Trading and Markets, pursuant to delegated
proposal promotes competition because including whether the proposed rule authority.23
it will enable the option exchanges to change is consistent with the Act. Eduardo A. Aleman,
attract additional order flow from the Comments may be submitted by any of Assistant Secretary.
over-the-counter market, who in turn the following methods: [FR Doc. 2018–13082 Filed 6–18–18; 8:45 am]
compete for those orders. The Exchange Electronic Comments BILLING CODE 8011–01–P
believes that the proposed rule change
will result in continued opportunities to • Use the Commission’s internet
comment form (http://www.sec.gov/ SECURITIES AND EXCHANGE
achieve the investment and trading
rules/sro.shtml); or COMMISSION
objectives of market participants seeking
• Send an email to rule-comments@
efficient trading and hedging vehicles, sec.gov. Please include File Number SR– [Release No. 34–83422; File No. SR–FINRA–
to the benefit of investors, market BX–2018–022 on the subject line. 2018–015]
participants, and the marketplace in
general. The Exchange believes this Paper Comments Self-Regulatory Organizations;
proposed rule change is necessary to • Send paper comments in triplicate Financial Industry Regulatory
permit fair competition among the to Brent J. Fields, Secretary, Securities Authority, Inc.; Notice of Designation
options exchanges and to establish and Exchange Commission, 100 F Street of a Longer Period for Commission
uniform position limits for additional NE, Washington, DC 20549–1090. Action on a Proposed Rule Change To
multiply listed option classes. Amend FINRA Rule 6433 To Adopt the
Furthermore, the Exchange believes that OTC Quotation Tier Size Pilot as
daltland on DSKBBV9HB2PROD with NOTICES

21 15 U.S.C. 78s(b)(3)(A)(iii).
22 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– Permanent
15 See note 10 above. 4(f)(6) requires a self-regulatory organization to give
16 Id. the Commission written notice of its intent to file June 13, 2018.
17 See
the proposed rule change at least five business days On April 20, 2018, Financial Industry
note 11 above. prior to the date of filing of the proposed rule
18 See note 10 above.
change, or such shorter time as designated by the Regulatory Authority, Inc. (‘‘FINRA’’)
19 See note 8 above.
Commission. The Exchange has satisfied this
20 15 U.S.C. 78(f)(b)(8). requirement. 23 17 CFR 200.30–3(a)(12).

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28484 Federal Register / Vol. 83, No. 118 / Tuesday, June 19, 2018 / Notices

filed with the Securities and Exchange SMALL BUSINESS ADMINISTRATION (Catalog of Federal Domestic Assistance
Commission (‘‘Commission’’), pursuant Number 59008)
to Section 19(b)(1) of the Securities [Disaster Declaration #15555 and #15556; Rafaela Monchek,
Exchange Act of 1934 (‘‘Act’’) 1 and Rule ALASKA Disaster Number AK–00038] Acting Associate Administrator for Disaster
19b–4 thereunder,2 a proposed rule Assistance.
change to amend FINRA Rule 6433 to Presidential Declaration of a Major [FR Doc. 2018–13108 Filed 6–18–18; 8:45 am]
adopt the OTC quotation tier size pilot Disaster for Public Assistance Only for BILLING CODE 8025–01–P
as permanent. The proposed rule change the State of Alaska
was published for comment in the AGENCY: U.S. Small Business
Federal Register on May 7, 2018.3 The SMALL BUSINESS ADMINISTRATION
Administration.
Commission has received one comment
letter on the proposed rule change.4 ACTION: Notice. Surrender of License of Small
Business Investment Company
Section 19(b)(2) of the Act 5 provides SUMMARY: This is a Notice of the
that within 45 days of the publication of Presidential declaration of a major Pursuant to the authority granted to
notice of the filing of a proposed rule disaster for Public Assistance Only for the United States Small Business
change, or within such longer period up the State of Alaska (FEMA–4369–DR), Administration under the Small
to 90 days as the Commission may dated 06/08/2018. Business Investment Act of 1958, as
designate if it finds such longer period amended, under Section 309 of the Act
Incident: Severe Storm. and Section 107.1900 of the Small
to be appropriate and publishes its Incident Period: 12/04/2017. Business Administration Rules and
reasons for so finding or as to which the
DATES: Issued on 06/08/2018. Regulations (13 CFR 107.1900) to
self-regulatory organization consents, function as a small business investment
the Commission shall either approve the Physical Loan Application Deadline
Date: 08/07/2018. company under the Small Business
proposed rule change, disapprove the Investment Company License No. 05/
proposed rule change, or institute Economic Injury (EIDL) Loan
Application Deadline Date: 03/08/2019. 75–0267 issued to Alpha Capital III
proceedings to determine whether the SBIC, L.P., said license is hereby
proposed rule change should be ADDRESSES: Submit completed loan
declared null and void.
disapproved. The 45th day after applications to: U.S. Small Business
Administration, Processing and United States Small Business
publication of the notice for this Administration.
proposed rule change is June 21, 2018. Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155. Dated: April 27, 2018.
The Commission is extending this 45- A. Joseph Shepard,
day time period. FOR FURTHER INFORMATION CONTACT: A.
Associate Administrator for Investment and
The Commission finds that it is Escobar, Office of Disaster Assistance, Innovation.
appropriate to designate a longer period U.S. Small Business Administration,
[FR Doc. 2018–13101 Filed 6–18–18; 8:45 am]
within which to take action on the 409 3rd Street SW, Suite 6050,
BILLING CODE P
Washington, DC 20416, (202) 205–6734.
proposed rule change so that it has
sufficient time to consider the proposed SUPPLEMENTARY INFORMATION: Notice is
rule change. Accordingly, the hereby given that as a result of the SMALL BUSINESS ADMINISTRATION
Commission, pursuant to Section President’s major disaster declaration on
[Disaster Declaration #15553 and #15554;
19(b)(2) of the Act,6 designates August 06/08/2018, Private Non-Profit New Jersey Disaster Number NJ–00048]
5, 2018, as the date by which the organizations that provide essential
Commission shall either approve or services of a governmental nature may Presidential Declaration of a Major
disapprove, or institute proceedings to file disaster loan applications at the Disaster for Public Assistance Only for
determine whether to disapprove, the address listed above or other locally the State of New Jersey
announced locations.
proposed rule change (File No. SR– AGENCY: U.S. Small Business
FINRA–2018–015). The following areas have been
determined to be adversely affected by Administration.
For the Commission, by the Division of the disaster: ACTION: Notice.
Trading and Markets, pursuant to delegated
authority.7
Primary Areas: Kenai Peninsula SUMMARY: This is a Notice of the
Borough Presidential declaration of a major
Eduardo A. Aleman,
The Interest Rates are: disaster for Public Assistance Only for
Assistant Secretary. the State of New Jersey (FEMA–4368–
[FR Doc. 2018–13081 Filed 6–18–18; 8:45 am] Percent DR), dated 06/08/2018.
BILLING CODE 8011–01–P Incident: Severe Winter Storm and
For Physical Damage: Snowstorm.
1 15
Non-Profit Organizations with Incident Period: 03/06/2018 through
U.S.C.78s(b)(1).
2 17
Credit Available Elsewhere ... 2.500 03/07/2018.
CFR 240.19b–4. Non-Profit Organizations with-
3 See Securities Exchange Act Release No. 83129
out Credit Available Else- DATES: Issued on 06/08/2018.
(April 30, 2018), 83 FR 20131. where ..................................... 2.500 Physical Loan Application Deadline
4 See Letter from Eugene P. Torpey, Chief
For Economic Injury: Date: 08/07/2018.
daltland on DSKBBV9HB2PROD with NOTICES

Compliance Officer, Vandham Securities Corp. Non-Profit Organizations with- Economic Injury (EIDL) Loan
(May 10, 2018). All comments on the proposed rule Application Deadline Date: 03/08/2019.
out Credit Available Else-
change are available on the Commission’s website
where ..................................... 2.500 ADDRESSES: Submit completed loan
at: https://www.sec.gov/comments/sr-finra-2018-
015/finra2018015.htm. applications to: U.S. Small Business
5 15 U.S.C. 78s(b)(2). The number assigned to this disaster Administration, Processing and
6 Id. for physical damage is 15555B and for Disbursement Center, 14925 Kingsport
7 17 CFR 200.30–3(a)(31). economic injury is 155560. Road, Fort Worth, TX 76155.

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Document Created: 2018-07-02 11:21:17
Document Modified: 2018-07-02 11:21:17

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 28483