83 FR 35301 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt a New NYSE Arca Rule 8.900-E and To List and Trade Shares of the Royce Pennsylvania ETF, Royce Premier ETF, and Royce Total Return ETF Under Proposed NYSE Arca Equities Rule 8.900-E

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 143 (July 25, 2018)

Page Range		35301-35301
FR Document		2018-15900

Federal Register, Volume 83 Issue 143 (Wednesday, July 25, 2018)

[Federal Register Volume 83, Number 143 (Wednesday, July 25, 2018)]
[Notices]
[Page 35301]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-15900]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83676; File No. SR-NYSEArca-2018-04]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change To 
Adopt a New NYSE Arca Rule 8.900-E and To List and Trade Shares of the 
Royce Pennsylvania ETF, Royce Premier ETF, and Royce Total Return ETF 
Under Proposed NYSE Arca Equities Rule 8.900-E

July 20, 2018.
    On January 8, 2018, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') 
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 
adopt new NYSE Arca Rule 8.900-E to permit it to list and trade Managed 
Portfolio Shares. The Exchange also proposed to list and trade shares 
of Royce Pennsylvania ETF, Royce Premier ETF, and Royce Total Return 
ETF under proposed NYSE Arca Rule 8.900-E. The proposed rule change was 
published for comment in the Federal Register on January 26, 2018.\3\ 
On March 7, 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\ The Commission received five comment letters on the proposed 
rule change.\6\ On April 26, 2018, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Act \7\ to determine 
whether to approve or disapprove the proposed rule change.\8\ Since 
then, the Commission has received two additional comments on the 
proposed rule change.\9\
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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. 82549 (January 19, 
2018), 83 FR 3846.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 82824, 83 FR 10934 
(March 13, 2018). The Commission designated April 26, 2018, as the 
date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ See letters from: (1) Terence W. Norman, Founder, Blue 
Tractor Group, LLC, dated February 6, 2018; (2) Simon P. Goulet, Co-
Founder, Blue Tractor Group, LLC, dated February 13, 2018; (3) Todd 
J. Broms, Chief Executive Officer, Broms & Company LLC, dated 
February 16, 2018; (4) Kevin S. Haeberle, Associate Professor of 
Law, William & Mary Law School, dated February 16, 2018; and (5) 
Gary L. Gastineau, President, ETF Consultants.com, Inc., dated March 
6, 2018. The comment letters are available at https://www.sec.gov/comments/sr-nysearca-2018-04/nysearca201804.htm.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 83120, 83 FR 19371 
(May 2, 2018).
    \9\ See letters from: (1) Terence W. Norman, Founder, Blue 
Tractor Group, LLC, dated May 8, 2018 and (2) Kevin S. Haeberle, 
Associate Professor of Law, William & Mary Law School, dated June 6, 
2018. The comment letters are available on the Commission's website 
at: https://www.sec.gov/comments/sr-nysearca-2018-04/nysearca201804.htm.
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    Section 19(b)(2) of the Act \10\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change. 
The Commission, however, 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. The proposed rule 
change was published for notice and comment in the Federal Register on 
January 26, 2018.\11\ July 25, 2018, is 180 days from that date, and 
September 23, 2018, is 240 days from that date.
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    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See supra note 3.
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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 the proposed 
rule change and the issues raised in the comment letters that have been 
submitted in connection therewith. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Act,\12\ designates September 23, 
2018, as the date by which the Commission should either approve or 
disapprove the proposed rule change (File No. SR-NYSEArca-2018-04).
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    \12\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15900 Filed 7-24-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 143 / Wednesday, July 25, 2018 / Notices 35301

would be required to complete only SECURITIES AND EXCHANGE under Section 19(b)(2)(B) of the Act 7 to
questions 1 through 3 and the signature COMMISSION determine whether to approve or
section of amended Form TA–2, which disapprove the proposed rule change.8
[Release No. 34–83676; File No. SR–
the Commission estimates would take NYSEArca–2018–04]
Since then, the Commission has
each registrant approximately 30 received two additional comments on
minutes, for a total burden of 17 hours Self-Regulatory Organizations; NYSE the proposed rule change.9
(34 × .5 hours). Approximately 26.5% of Arca, Inc.; Notice of Designation of a Section 19(b)(2) of the Act 10 provides
registrants (or 99 registrants) would be Longer Period for Commission Action that, after initiating proceedings, the
required to answer questions 1 through on Proceedings To Determine Whether Commission shall issue an order
5, question 11 and the signature section, To Approve or Disapprove a Proposed approving or disapproving the proposed
which the Commission estimates would Rule Change To Adopt a New NYSE rule change not later than 180 days after
take approximately 1 hour and 30 Arca Rule 8.900–E and To List and
the date of publication of notice of filing
minutes, for a total of 148.5 hours (99 Trade Shares of the Royce
of the proposed rule change. The
× 1.5 hours). Approximately 64.2% of Pennsylvania ETF, Royce Premier ETF,
Commission, however, may extend the
the registrants (or 239 registrants) would and Royce Total Return ETF Under
Proposed NYSE Arca Equities Rule period for issuing an order approving or
be required to complete the entire Form disapproving the proposed rule change
TA–2, which the Commission estimates 8.900–E
by not more than 60 days if the
would take approximately 6 hours, for July 20, 2018. Commission determines that a longer
a total of 1,434 hours (239 × 6 hours). On January 8, 2018, NYSE Arca, Inc. period is appropriate and publishes the
The aggregate annual burden on all 373 (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed reasons for such determination. The
registered transfer agents is thus with the Securities and Exchange proposed rule change was published for
approximately 1,599.5 hours (17 hours + Commission (‘‘Commission’’), pursuant notice and comment in the Federal
148.5 hours + 1,434 hours) and the to Section 19(b)(1) of the Securities Register on January 26, 2018.11 July 25,
average annual burden per transfer Exchange Act of 1934 (‘‘Act’’) 1 and Rule 2018, is 180 days from that date, and
agent is approximately 3.8 hours (1,434 19b–4 thereunder,2 a proposed rule September 23, 2018, is 240 days from
÷ 373). change to adopt new NYSE Arca Rule
that date.
8.900–E to permit it to list and trade
This rule does not involve the The Commission finds it appropriate
Managed Portfolio Shares. The
collection of confidential information. Exchange also proposed to list and trade to designate a longer period within
An agency may not conduct or shares of Royce Pennsylvania ETF, which to issue an order approving or
sponsor, and a person is not required to Royce Premier ETF, and Royce Total disapproving the proposed rule change
respond to, a collection of information Return ETF under proposed NYSE Arca so that it has sufficient time to consider
under the PRA unless it displays a Rule 8.900–E. The proposed rule change the proposed rule change and the issues
currently valid OMB control number. was published for comment in the raised in the comment letters that have
Federal Register on January 26, 2018.3 been submitted in connection therewith.
The public may view background On March 7, 2018, pursuant to Section
documentation for this information Accordingly, the Commission, pursuant
19(b)(2) of the Act,4 the Commission to Section 19(b)(2) of the Act,12
collection at the following website: designated a longer period within which
www.reginfo.gov. Comments should be designates September 23, 2018, as the
to approve the proposed rule change, date by which the Commission should
directed to: (i) Desk Officer for the disapprove the proposed rule change, or
Securities and Exchange Commission, either approve or disapprove the
institute proceedings to determine
Office of Information and Regulatory proposed rule change (File No. SR–
whether to disapprove the proposed
Affairs, Office of Management and rule change.5 The Commission received NYSEArca–2018–04).
Budget, Room 10102, New Executive five comment letters on the proposed For the Commission, by the Division of
Office Building, Washington, DC 20503, rule change.6 On April 26, 2018, the Trading and Markets, pursuant to delegated
or by sending an email to: Shagufta_ Commission instituted proceedings authority.13
Ahmed@omb.eop.gov; and (ii) Pamela Eduardo A. Aleman,
1 15
U.S.C. 78s(b)(1).
Dyson, Director/Chief Information Assistant Secretary.
2 17
CFR 240.19b–4.
Officer, Securities and Exchange 3 See Securities Exchange Act Release No. 82549 [FR Doc. 2018–15900 Filed 7–24–18; 8:45 am]
Commission, c/o Candace Kenner, 100 F (January 19, 2018), 83 FR 3846. BILLING CODE 8011–01–P
Street NE, Washington, DC 20549, or by 4 15 U.S.C. 78s(b)(2).

sending an email to: PRA_Mailbox@ 5 See Securities Exchange Act Release No. 82824,

sec.gov. Comments must be submitted to 83 FR 10934 (March 13, 2018). The Commission
7 15 U.S.C. 78s(b)(2)(B).
designated April 26, 2018, as the date by which the
OMB within 30 days of this notice. Commission shall approve or disapprove, or 8 See Securities Exchange Act Release No. 83120,
Dated: July 19, 2018. institute proceedings to determine whether to 83 FR 19371 (May 2, 2018).
disapprove, the proposed rule change. 9 See letters from: (1) Terence W. Norman,
Eduardo A. Aleman, 6 See letters from: (1) Terence W. Norman, Founder, Blue Tractor Group, LLC, dated May 8,
Assistant Secretary. Founder, Blue Tractor Group, LLC, dated February 2018 and (2) Kevin S. Haeberle, Associate Professor
[FR Doc. 2018–15851 Filed 7–24–18; 8:45 am] 6, 2018; (2) Simon P. Goulet, Co-Founder, Blue of Law, William & Mary Law School, dated June 6,
daltland on DSKBBV9HB2PROD with NOTICES

Tractor Group, LLC, dated February 13, 2018; (3) 2018. The comment letters are available on the
BILLING CODE 8011–01–P Todd J. Broms, Chief Executive Officer, Broms & Commission’s website at: https://www.sec.gov/
Company LLC, dated February 16, 2018; (4) Kevin comments/sr-nysearca-2018-04/nysearca
S. Haeberle, Associate Professor of Law, William & 201804.htm.
Mary Law School, dated February 16, 2018; and (5) 10 15 U.S.C. 78s(b)(2).
Gary L. Gastineau, President, ETF Consultants.com,
11 See supra note 3.
Inc., dated March 6, 2018. The comment letters are
12 15 U.S.C. 78s(b)(2).
available at https://www.sec.gov/comments/sr-
nysearca-2018-04/nysearca201804.htm. 13 17 CFR 200.30–3(a)(57).

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Document Created: 2018-07-25 00:44:56
Document Modified: 2018-07-25 00:44:56

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 35301