83 FR 31827 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade the Shares of the Western Asset Total Return ETF

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 131 (July 9, 2018)

[Federal Register Volume 83, Number 131 (Monday, July 9, 2018)]
[Notices]
[Pages 31827-31828]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-14667]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83588; File No. SR-NASDAQ-2017-128]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To List and Trade the Shares of the Western Asset Total 
Return ETF

July 3, 2018.
    On December 20, 2017, The Nasdaq Stock Market LLC (``Nasdaq'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to 
list and trade shares of the Western Asset Total Return ETF, a series 
of Legg Mason ETF Investment Trust, under Nasdaq Rule 5735. The 
proposed rule change was published for comment in the Federal Register 
on January 9, 2018.\3\ The Commission has received no comments on the 
proposed rule change.
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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. 82439 (Jan. 3, 
2018), 83 FR 1062.
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    On February 21, 2018, 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 April 6, 2018, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ The Commission has 
received no comments on the proposed rule change.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 82757, 83 FR 8532 
(Feb. 27, 2018).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 83007, 83 FR 15883 
(Apr. 12, 2018).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180

[[Page 31828]]

days after the date of publication of notice of filing of the proposed 
rule change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. As noted earlier, the 
proposed rule change was published for notice and comment in the 
Federal Register on January 9, 2018. July 8, 2018, is 180 days from 
that date, and September 6, 2018, is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\9\ designates September 6, 2018, as the date by which the 
Commission should either approve or disapprove the proposed rule change 
(File Number SR-NASDAQ-2017-128).
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    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14667 Filed 7-6-18; 8:45 am]
 BILLING CODE 8011-01-P