83 FR 29848 - Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Clarify the SPX Select Market-Maker Program
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 123 (June 26, 2018)
Federal Register Volume 83, Issue 123 (June 26, 2018)
| Page Range | 29848-29850 | |
| FR Document | 2018-13615 |
[Federal Register Volume 83, Number 123 (Tuesday, June 26, 2018)] [Notices] [Pages 29848-29850] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-13615] [[Page 29848]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83476; File No. SR-CBOE-2018-044] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Clarify the SPX Select Market-Maker Program June 20, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on June 8, 2018, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b- 4(f)(6) thereunder.\4\ 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)(iii). \4\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its Fees Schedule relating to the SPX Select Market-Maker Program. The text of the proposed rule change is also available on the Exchange's website (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange is proposing to clarify text in its Fees Schedule relating to the SPX Select Market-Maker (``SMM'') Program. By way of background, the Exchange recently established a financial incentive program for SPX SMMs, which provides that any appointed SPX SMM will receive a monthly waiver of the cost of one Market-Maker Trading Permit and one SPX Tier Appointment provided that the SMM satisfies a heightened quoting standard for that month, which standard is set forth in Footnote 49 of the Fees Schedule. Footnote 49 currently provides that an SMM will receive the monthly Trading Permit and SPX Tier Appointment waiver if it (1) provides continuous electronic quotes in 95% of all SPX series 90% of the time in a given month, (2) submits opening quotes that are no wider than the Opening Exchange Prescribed Width (``OEPW'') within one minute of the initiation of an opening rotation in any series that is not open due to the lack of a qualifying quote, on all trading days, to ensure electronic quotes on the open that allow the series to open, (3) submits opening quotes that are no wider than the OEPW quote by 8:00 a.m. (CT) on volatility settlement days and (4) provides quotes for the end-of-month fair value closing rotation on a rotating basis. The Exchange proposes to clarify the criteria currently set forth in the third prong of the heightened quoting standard, described above. Specifically, the Exchange proposes to add text that explicitly provides that to satisfy the third prong, an SMM must submit opening quotes that are no wider than the OEPW quote by 8:00 a.m. CST on volatility ``index derivative'' settlement days ``in the SPX series that expire in the month used to calculate the settlement value for expiring volatility index derivatives.'' The Exchange notes that this prong was included as part of the heightened quoting standard to encourage SMM participation prior to the opening on volatility index derivative settlement days to increase liquidity in the SPX series used to calculate the settlement value, which is desirable to ensure these series open at competitive prices on expiration days for volatility index derivatives and thus ensure a fair and orderly opening and settlement process. While liquidity is important to open all series on the Exchange, given the potential impact on the exercise settlement value determined for expiring volatility index derivatives, the Exchange believes it is appropriate to ensure a fair and orderly opening of the series used to calculate the exercise settlement value. The Exchange calculates the settlement value for expiring volatility index derivatives using the opening pricings of SPX options that expire 30 days later. All other SPX series are not used by the Exchange to determine the exercise settlement value. As such, the Exchange doesn't believe that it is appropriate to require SMMs to submit opening quotes that are no wider than the OEPW by 8:00 a.m. (CT) on volatility index derivative settlement days in all SPX options series, if only a subset of SPX options series are used in the settlement value calculation. In order to alleviate any confusion, the Exchange wishes to make clear that the third prong, as originally written, does not encompass all SPX options series. Rather, the third prong requires only the submission of opening quotes prior to 8:00 a.m. CT on volatility index derivative settlement days that are no wider than the OEPW in the series that expire in the month used to calculate the volatility index derivative settlement value. With respect to the remaining SPX options series, the Exchange notes that SMMs already are required pursuant to prong 2 to submit opening quotes that are no wider than the OEPW within one minute of the initiation of an opening rotation in any series that is not open due to the lack of a qualifying quote, on all trading days, to ensure electronic quotes on the open that allow the series to open. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\5\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \6\ requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect [[Page 29849]] investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with Section 6(b)(4) of the Act,\7\ which requires that Exchange rules provide for the equitable allocation of reasonable dues, fees, and other charges among its Trading Permit Holders and other persons using its facilities. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). \7\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes clarifying the third prong in Footnote 49 helps avoid confusion by making clear which SPX series are subject to the quoting criteria in the third prong of the SMM heighted quoting standard. The alleviation of confusion removes impediments to, and perfects the mechanism of, a free and open market and a national market system and protects investors and the public interest. Additionally, the Exchange believes that the proposed clarification in Footnote 49 is reasonable because the third prong is meant to specifically address liquidity on volatility index derivative settlement days that ensure a fair and orderly opening and settlement process and not address liquidity in SPX options series generally. 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 intramarket or intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed clarification is intended to make clear in the Fees Schedule which SPX options series are subject to the criteria contained in the third prong of the heightened quoting standard in order to maintain transparency in the rules and alleviate confusion. The proposed change also applies to SPX, which is only traded on Cboe Options. The Exchange believes the proposed change therefore does not raise any competitive issues. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the 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 \8\ and Rule 19b-4(f)(6) thereunder.\9\ --------------------------------------------------------------------------- \8\ 15 U.S.C. 78s(b)(3)(A). \9\ 17 CFR 240.19b-4(f)(6). Rule 19b-4(f)(6)(iii) requires the Exchange to provide the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the text of 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 asked the Commission to waive this requirement. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act \10\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \11\ permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the five-day prefiling requirement and the 30-day operative delay so that the proposal may become operative immediately upon filing. According to the Exchange, without the waivers, the Fees Schedule would reflect a quoting standard that may be confusing to SPX SMMs. The Commission hereby waives the prefiling requirement and finds that waiver of the operative delay is consistent with the protection of investors and the public interest. In particular, the proposal does not raise any new or novel issues, and waiver of the prefiling requirement and operative delay will allow to the Exchange to immediately clarify the operation of its SPX Select Market-Maker Program. Therefore, the Commission hereby waives the prefiling requirement and the operative delay and designates the proposal operative upon filing.\12\ --------------------------------------------------------------------------- \10\ 17 CFR 240.19b-4(f)(6). \11\ 17 CFR 240.19b-4(f)(6)(iii). \12\ For purposes only of waiving the 30-day operative delay, the Commission has also 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 necessary or appropriate in the public interest, for the protection of investors, or 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-CBOE-2018-044 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-CBOE-2018-044. 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-CBOE-2018-044 and should be submitted on or before July 17, 2018. [[Page 29850]] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-13615 Filed 6-25-18; 8:45 am] BILLING CODE 8011-01-P
![29848 Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices
SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s determined for expiring volatility index
COMMISSION Statement of the Purpose of, and derivatives, the Exchange believes it is
Statutory Basis for, the Proposed Rule appropriate to ensure a fair and orderly
[Release No. 34–83476; File No. SR–CBOE– Change opening of the series used to calculate
2018–044] the exercise settlement value. The
1. Purpose
Exchange calculates the settlement
Self-Regulatory Organizations; Cboe The Exchange is proposing to clarify value for expiring volatility index
Exchange, Inc.; Notice of Filing and text in its Fees Schedule relating to the derivatives using the opening pricings
Immediate Effectiveness of a Proposed SPX Select Market-Maker (‘‘SMM’’) of SPX options that expire 30 days later.
Rule Change To Clarify the SPX Select Program. By way of background, the All other SPX series are not used by the
Market-Maker Program Exchange recently established a Exchange to determine the exercise
financial incentive program for SPX settlement value. As such, the Exchange
June 20, 2018. SMMs, which provides that any doesn’t believe that it is appropriate to
Pursuant to Section 19(b)(1) of the appointed SPX SMM will receive a require SMMs to submit opening quotes
Securities Exchange Act of 1934 (the monthly waiver of the cost of one that are no wider than the OEPW by
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Market-Maker Trading Permit and one 8:00 a.m. (CT) on volatility index
notice is hereby given that on June 8, SPX Tier Appointment provided that derivative settlement days in all SPX
2018, Cboe Exchange, Inc. (the the SMM satisfies a heightened quoting options series, if only a subset of SPX
‘‘Exchange’’ or ‘‘Cboe Options’’) filed standard for that month, which standard options series are used in the settlement
with the Securities and Exchange is set forth in Footnote 49 of the Fees value calculation. In order to alleviate
Commission (the ‘‘Commission’’) the Schedule. Footnote 49 currently any confusion, the Exchange wishes to
proposed rule change as described in provides that an SMM will receive the make clear that the third prong, as
Items I and II below, which Items have monthly Trading Permit and SPX Tier originally written, does not encompass
been prepared by the Exchange. The Appointment waiver if it (1) provides all SPX options series. Rather, the third
Exchange filed the proposal as a ‘‘non- continuous electronic quotes in 95% of prong requires only the submission of
controversial’’ proposed rule change all SPX series 90% of the time in a given opening quotes prior to 8:00 a.m. CT on
pursuant to Section 19(b)(3)(A)(iii) of month, (2) submits opening quotes that volatility index derivative settlement
the Act 3 and Rule 19b–4(f)(6) are no wider than the Opening days that are no wider than the OEPW
thereunder.4 The Commission is Exchange Prescribed Width (‘‘OEPW’’) in the series that expire in the month
publishing this notice to solicit within one minute of the initiation of an used to calculate the volatility index
comments on the proposed rule change opening rotation in any series that is not derivative settlement value. With
from interested persons. open due to the lack of a qualifying respect to the remaining SPX options
quote, on all trading days, to ensure series, the Exchange notes that SMMs
I. Self-Regulatory Organization’s electronic quotes on the open that allow already are required pursuant to prong
Statement of the Terms of Substance of the series to open, (3) submits opening 2 to submit opening quotes that are no
the Proposed Rule Change quotes that are no wider than the OEPW wider than the OEPW within one
quote by 8:00 a.m. (CT) on volatility minute of the initiation of an opening
The Exchange proposes to amend its settlement days and (4) provides quotes rotation in any series that is not open
Fees Schedule relating to the SPX Select for the end-of-month fair value closing due to the lack of a qualifying quote, on
Market-Maker Program. rotation on a rotating basis. all trading days, to ensure electronic
The text of the proposed rule change The Exchange proposes to clarify the quotes on the open that allow the series
is also available on the Exchange’s criteria currently set forth in the third to open.
website (http://www.cboe.com/About prong of the heightened quoting
CBOE/CBOELegalRegulatory standard, described above. Specifically, 2. Statutory Basis
Home.aspx), at the Exchange’s Office of the Exchange proposes to add text that The Exchange believes the proposed
the Secretary, and at the Commission’s explicitly provides that to satisfy the rule change is consistent with the
Public Reference Room. third prong, an SMM must submit Securities Exchange Act of 1934 (the
opening quotes that are no wider than ‘‘Act’’) and the rules and regulations
II. Self-Regulatory Organization’s
the OEPW quote by 8:00 a.m. CST on thereunder applicable to the Exchange
Statement of the Purpose of, and
volatility ‘‘index derivative’’ settlement and, in particular, the requirements of
Statutory Basis for, the Proposed Rule
days ‘‘in the SPX series that expire in Section 6(b) of the Act.5 Specifically,
Change
the month used to calculate the the Exchange believes the proposed rule
In its filing with the Commission, the settlement value for expiring volatility change is consistent with the Section
Exchange included statements index derivatives.’’ The Exchange notes 6(b)(5) 6 requirements that the rules of
concerning the purpose of and basis for that this prong was included as part of an exchange be designed to prevent
the proposed rule change and discussed the heightened quoting standard to fraudulent and manipulative acts and
any comments it received on the encourage SMM participation prior to practices, to promote just and equitable
proposed rule change. The text of these the opening on volatility index principles of trade, to foster cooperation
statements may be examined at the derivative settlement days to increase and coordination with persons engaged
places specified in Item IV below. The liquidity in the SPX series used to in regulating, clearing, settling,
Exchange has prepared summaries, set calculate the settlement value, which is processing information with respect to,
desirable to ensure these series open at
sradovich on DSK3GMQ082PROD with NOTICES
forth in sections A, B, and C below, of and facilitating transactions in
the most significant aspects of such competitive prices on expiration days securities, to remove impediments to
statements. for volatility index derivatives and thus and perfect the mechanism of a free and
ensure a fair and orderly opening and open market and a national market
1 15 U.S.C. 78s(b)(1). settlement process. While liquidity is system, and, in general, to protect
2 17 CFR 240.19b–4. important to open all series on the
3 15 U.S.C. 78s(b)(3)(A)(iii). Exchange, given the potential impact on 5 15 U.S.C. 78f(b).
4 17 CFR 240.19b–4(f)(6). the exercise settlement value 6 15 U.S.C. 78f(b)(5).
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![29850 Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices
For the Commission, by the Division of Officer, Securities and Exchange unless the SRO is relieved of this
Trading and Markets, pursuant to delegated Commission, c/o Remi Pavlik-Simon, responsibility pursuant to Section
authority.13 100 F Street NE, Washington, DC 20549 17(d) 4 or Section 19(g)(2) 5 of the Act.
Eduardo A. Aleman, or send an email to: PRA_Mailbox@ Without this relief, the statutory
Assistant Secretary. sec.gov. Comments must be submitted to obligation of each individual SRO could
[FR Doc. 2018–13615 Filed 6–25–18; 8:45 am] OMB within 30 days of this notice. result in a pattern of multiple
BILLING CODE 8011–01–P Dated: June 21, 2018. examinations of broker-dealers that
maintain memberships in more than one
Eduardo A. Aleman,
SRO (‘‘common members’’). Such
SECURITIES AND EXCHANGE Assistant Secretary.
regulatory duplication would add
COMMISSION [FR Doc. 2018–13686 Filed 6–25–18; 8:45 am] unnecessary expenses for common
BILLING CODE 8011–01–P members and their SROs.
Submission for OMB Review; Section 17(d)(1) of the Act 6 was
Comment Request intended, in part, to eliminate
SECURITIES AND EXCHANGE unnecessary multiple examinations and
Upon Written Request Copies Available COMMISSION
From: Securities and Exchange regulatory duplication.7 With respect to
Commission, Office of FOIA Services, [Release No. 34–83477; File No. 4–709] a common member, Section 17(d)(1)
100 F Street NE, Washington, DC authorizes the Commission, by rule or
20549–2736 Program for Allocation of Regulatory order, to relieve an SRO of the
Responsibilities Pursuant to Rule 17d– responsibility to receive regulatory
Extension: reports, to examine for and enforce
Form F–X, SEC File No. 270–336, OMB
2; Notice of Filing and Order
Control No. 3235–0379 Approving and Declaring Effective an compliance with applicable statutes,
Amended Plan for the Allocation of rules, and regulations, or to perform
Notice is hereby given that, pursuant Regulatory Responsibilities Between other specified regulatory functions.
to the Paperwork Reduction Act of 1995 the Financial Industry Regulatory To implement Section 17(d)(1), the
(44 U.S.C. 3501 et seq.), the Securities Authority, Inc. and BOX Options Commission adopted two rules: Rule
and Exchange Commission Exchange LLC 17d–1 and Rule 17d–2 under the Act.8
(‘‘Commission’’) has submitted to the Rule 17d–1 authorizes the Commission
Office of Management and Budget this June 20, 2018. to name a single SRO as the designated
request for extension of the previously Notice is hereby given that the examining authority (‘‘DEA’’) to
approved collection of information Securities and Exchange Commission examine common members for
discussed below. (‘‘Commission’’) has issued an Order, compliance with the financial
Form F–X (17 CFR 239.42) is used to pursuant to Section 17(d) of the responsibility requirements imposed by
appoint an agent for service of process Securities Exchange Act of 1934 the Act, or by Commission or SRO
by Canadian issuers registering (‘‘Act’’),1 approving and declaring rules.9 When an SRO has been named as
securities on Forms F–7, F–8, F–9 or F– effective an amendment to the plan for a common member’s DEA, all other
10 under the Securities Act of 1933 (15 allocating regulatory responsibility SROs to which the common member
U.S.C. 77a et seq.), or filing periodic (‘‘Plan’’) filed on June 13, 2018, belongs are relieved of the responsibility
reports on Form 40–F under the pursuant to Rule 17d–2 of the Act,2 by to examine the firm for compliance with
Exchange Act of 1934 (15 U.S.C. 78a et the Financial Industry Regulatory the applicable financial responsibility
seq.). The information collected must be Authority, Inc. (‘‘FINRA’’) and BOX rules. On its face, Rule 17d–1 deals only
filed with the Commission and is Options Exchange LLC (‘‘BOX’’) with an SRO’s obligations to enforce
publicly available. We estimate it takes (collectively, ‘‘Participating member compliance with financial
approximately 2 hours per response to Organizations’’ or ‘‘parties’’). This responsibility requirements. Rule 17d–1
prepare Form F–X and the information agreement amends and restates the does not relieve an SRO from its
is filed by approximately 114 agreement entered into between FINRA obligation to examine a common
respondents for a total annual reporting and BOX on March 2, 2017, entitled member for compliance with its own
burden of 228 hours (2 hours per ‘‘Agreement Between Financial Industry rules and provisions of the federal
response × 114 responses). Regulatory Authority, Inc. and BOX securities laws governing matters other
An agency may not conduct or Options Exchange LLC Pursuant to Rule than financial responsibility, including
sponsor, and a person is not required to 17d–2 under the Securities Exchange sales practices and trading activities and
respond to, a collection of information Act of 1934,’’ and any subsequent practices.
unless it displays a currently valid amendments thereafter. To address regulatory duplication in
control number. these and other areas, the Commission
The public may view the background I. Introduction adopted Rule 17d–2 under the Act.10
documentation for this information Section 19(g)(1) of the Act,3 among Rule 17d–2 permits SROs to propose
collection at the following website, other things, requires every self-
www.reginfo.gov. Comments should be regulatory organization (‘‘SRO’’) 4 15 U.S.C. 78q(d).
5 15 U.S.C. 78s(g)(2).
directed to: (i) Desk Officer for the registered as either a national securities 6 15 U.S.C. 78q(d)(1).
Securities and Exchange Commission, exchange or national securities 7 See Securities Act Amendments of 1975, Report
Office of Information and Regulatory association to examine for, and enforce of the Senate Committee on Banking, Housing, and
sradovich on DSK3GMQ082PROD with NOTICES
Affairs, Office of Management and compliance by, its members and persons Urban Affairs to Accompany S. 249, S. Rep. No. 94–
Budget, Room 10102, New Executive associated with its members with the 75, 94th Cong., 1st Session 32 (1975).
Office Building, Washington, DC 20503, Act, the rules and regulations 8 17 CFR 240.17d–1 and 17 CFR 240.17d–2,
or by sending an email to: Shagufta_ respectively.
thereunder, and the SRO’s own rules, 9 See Securities Exchange Act Release No. 12352
Ahmed@omb.eop.gov; and (ii) Pamela (April 20, 1976), 41 FR 18808 (May 7, 1976).
Dyson, Director/Chief Information 1 15 U.S.C. 78q(d). 10 See Securities Exchange Act Release No. 12935
2 17 CFR 240.17d–2. (October 28, 1976), 41 FR 49091 (November 8,
13 17 CFR 200.30–3(a)(12). 3 15 U.S.C. 78s(g)(1). 1976).
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Document Created: 2018-06-26 00:51:36
Document Modified: 2018-06-26 00:51:36
| 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 29848 |
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