83 FR 42959 - Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Independence Policy of the Board of Directors of the Exchange
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 165 (August 24, 2018)
Federal Register Volume 83, Issue 165 (August 24, 2018)
| Page Range | 42959-42961 | |
| FR Document | 2018-18293 |
[Federal Register Volume 83, Number 165 (Friday, August 24, 2018)] [Notices] [Pages 42959-42961] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-18293] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83890; File No. SR-NYSEAMER-2018-42] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Independence Policy of the Board of Directors of the Exchange August 20, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on August 15, 2018, NYSE American LLC (the ``Exchange'' or ``NYSE American'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the self-regulatory organization. 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the Independence Policy of the Board of Directors of the Exchange (``Independence Policy'') by (a) streamlining references to Intercontinental Exchange, Inc. (``ICE'') subsidiaries that are national securities exchanges, (b) removing obsolete references, and (c) adding references to national securities exchange affiliates of the Exchange. The proposed rule change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, 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 self-regulatory organization 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 those 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 parts 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 proposes to amend the Independence Policy by (a) streamlining references to ICE subsidiaries that are national securities exchanges, (b) removing obsolete references, and (c) adding references to national securities exchange affiliates of the Exchange. Definition of ``Exchange'' The Independence Policy includes references to the Exchange and its national securities exchange affiliates New York Stock Exchange LLC (``NYSE'') and NYSE Arca, Inc. (``NYSE Arca'').\3\ It does not include references to the Exchange's newest national securities exchange affiliates, NYSE National, Inc. (``NYSE National'') and Chicago Stock Exchange, Inc. (``CHX''). The Exchange proposes to replace lists of individual national securities exchange affiliates in the Independence Policy with the term ``Exchange,'' defined as any national securities exchange registered under Section 6 of the Exchange Act \4\ and controlled, directly or indirectly, by ICE. The definition would encompass the Exchange, NYSE, NYSE Arca, NYSE National, and CHX (collectively, the ``SRO Affiliates''). --------------------------------------------------------------------------- \3\ The independence policy of the board of directors of the Exchange's affiliate NYSE is substantially the same as the Independence Policy. NYSE has submitted substantially the same proposed rule change to its independence policy as described herein. See SR-NYSE-2018-38. \4\ 15 U.S.C. 78f. --------------------------------------------------------------------------- Specifically, the Exchange proposes to add a second paragraph under ``Purpose'' with the definition of ``Exchange.'' \5\ In addition, the Exchange proposes to make the following changes in the section under ``Independence Qualifications'': --------------------------------------------------------------------------- \5\ The proposed text would include the definition of ``ICE.'' Accordingly, the Exchange proposes to delete the definition of ICE in ``Independence Requirements,'' category 1. ---------------------------------------------------------------------------Replace ``New York Stock Exchange LLC, NYSE Arca, Inc. and NYSE American LLC'' with ``an Exchange'' in category 1(b) and (c); Replace ``New York Stock Exchange LLC, on NYSE Arca, Inc. or on NYSE American LLC'' with ``an Exchange'' in category 1(d) and category 4; Replace ``New York Stock Exchange LLC, and NYSE Arca, Inc. and NYSE American LLC exercise'' with ``each Exchange exercises'' in the final paragraph of category 1; Replace ``New York Stock Exchange LLC, NYSE Arca, Inc., NYSE Arca [[Page 42960]] Equities, Inc. and NYSE American LLC'' with ``each Exchange'' in category 2; and Replace ``New York Stock Exchange LLC, NYSE Arca, Inc. or NYSE American LLC'' with ``an Exchange'' under ``Listed Companies.'' The proposed changes would make the requirements under ``Independence Qualifications'' and ``Listed Companies'' apply to all of the Affiliate SROs, and not just those specifically listed in the Independence Policy. In addition, it would make the Independence Policy consistent with the governing documents of ICE and the intermediate holding companies between the Exchange and ICE, which use the term ``Exchange.'' \6\ --------------------------------------------------------------------------- \6\ See Securities Exchange Act Release No. 82082 (November 15, 2017), 82 FR 55471 (November 21, 2017) (SR-NYSEAMER-2017-29). NYSE Group, Inc. (``NYSE Group'') owns all of the equity interest in the Exchange. In turn, NYSE Group is a wholly-owned subsidiary of NYSE Holdings LLC, which is wholly owned by Intercontinental Exchange Holdings, Inc., which is wholly owned by ICE. ICE is a public company listed on the NYSE. --------------------------------------------------------------------------- Removal of Obsolete References The NYSE no longer has allied members.\7\ Accordingly, the Exchange proposes to delete the text ``paragraph (c) of Rule 2 of the New York Stock Exchange LLC and'' from category 1(b) of ``Independence Qualifications.'' --------------------------------------------------------------------------- \7\ See Securities Exchange Act Release No. 58549 (September 15, 2008), 73 FR 54444 (September 19, 2008) (SR-NYSE-2008-80) (notice of filing and immediate effectiveness of proposed rule change and Amendment No. 1 thereto conforming certain NYSE rules to changes to NYSE incorporated rules recently filed by the Financial Industry Regulatory Authority, Inc.). --------------------------------------------------------------------------- NYSE Arca Equities, Inc. merged with NYSE Arca, Inc., and therefore no longer exists.\8\ Accordingly, under ``Independence Qualifications,'' the text ``Rule 1.1(c) of NYSE Arca Equities, Inc.'' in category 1(b) and references to NYSE Arca Equities, Inc. in category 5 would be deleted.\9\ --------------------------------------------------------------------------- \8\ See Securities Exchange Act Release No. 81419 (August 17, 2017), 82 FR 40044 (August 23, 2017) (SR-NYSEArca-2017-40). \9\ The reference to NYSE Arca Equities, Inc. in category 2 would be deleted and replaced with ``each Exchange,'' as proposed above. --------------------------------------------------------------------------- The proposed removal of obsolete references would be consistent with changes made to the independence policy of the board of directors of ICE.\10\ --------------------------------------------------------------------------- \10\ See Securities Exchange Act Release No. 83347 (May 30, 2018), 83 FR 26131 (June 5, 2018) (SR-NYSEAMER-2018-17). --------------------------------------------------------------------------- References to SRO Affiliates NYSE National became an Affiliate SRO in 2017. Accordingly, the Exchange proposes to add ``Person Associated with an ETP Holder'' (as defined in Rule 1.5 of NYSE National, Inc.);'' in category 1(b), and add NYSE National to category 5 under ``Independence Qualifications.'' The changes would be consistent with changes made to the independence policy of the board of directors of ICE.\11\ --------------------------------------------------------------------------- \11\ See Securities Exchange Act Release No. 79901 (January 30, 2017), 82 FR 9251 (February 3, 2017) (SR-NYSE-2016-90; SR-NYSEArca- 2016-167; SR-NYSEMKT-2016-122). --------------------------------------------------------------------------- CHX became an Affiliate SRO in 2018.\12\ The Exchange proposes to add a reference to CHX to category 5 under ``Independence Qualifications.'' As CHX does not have terms equivalent to ``allied members'' or ``approved persons,'' the Exchange does not propose to add references to CHX to the clause following ``(collectively, `Members')'' in category (1)(b). The changes would be consistent with changes made to the independence policy of the board of directors of ICE.\13\ --------------------------------------------------------------------------- \12\ See Securities Exchange Act Release No. 83635 (July 13, 2018), 83 FR 34182 (July 17, 2017) (SR-CHX-2018-004). \13\ See 83 FR 26131, supra note 10. --------------------------------------------------------------------------- The Exchange proposes to update the link included in footnote 2 and make conforming changes to delete and replace connectors. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Exchange Act \14\ in general, and with Section 6(b)(1) \15\ in particular, in that it enables the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Exchange Act and to comply, and to enforce compliance by its exchange members and persons associated with its exchange members, with the provisions of the Exchange Act, the rules and regulations thereunder, and the rules of the Exchange. The Exchange also believes that the proposed rule change is consistent with Section 6(b)(5) of the Exchange Act,\16\ in that it is 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 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 investors and the public interest. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b). \15\ 15 U.S.C. 78f(b)(1). \16\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed replacement of lists of individual SRO Affiliates in the Independence Policy with the term ``Exchange'' would contribute to the orderly operation of the Exchange, because use of the term would make the requirements under ``Independence Qualifications'' and ``Listed Companies'' apply to all of the Affiliate SROs, and not just those specifically listed in the Independence Policy. The Exchange Act definition of ``exchange'' states that ``exchange'' ``includes the market place and the market facilities maintained by such exchange.'' \17\ Accordingly, all market places and market facilities maintained by an Exchange would fall within the definition of Exchange and therefore would fall within the scope of the Independence Policy. In addition, the Exchange notes that the proposed change would make the Independence Policy consistent with the governing documents of ICE and the intermediate holding companies between the Exchange and ICE, which use the term ``Exchange.'' Making the terminology used in the governing documents and the Independence Policy more consistent would add clarity and transparency to the Exchange Rules. --------------------------------------------------------------------------- \17\ 15 U.S.C. 78c(a)(1). --------------------------------------------------------------------------- For the same reason, the Exchange believes that the proposed replacement of lists of individual SRO Affiliates in the Independence Policy with the term ``Exchange'' would remove impediments to and perfect the mechanism of a free and open market. The changes would simplify and streamline the Exchange's rules while making them more consistent, thereby ensuring that persons subject to the Exchange's jurisdiction, regulators, and the investing public can more easily navigate and understand the Independence Policy and the Exchange Rules. The Exchange believes that the proposed change would remove impediments to, and perfect the mechanism of a free and open market and a national market system and, in general, protect investors and the public interest by (a) removing obsolete references to NYSE allied members and NYSE Arca Equities, Inc., and (b) incorporating NYSE National and CHX into the text of the Independence Policy. The Exchange believes that such changes would add clarity and transparency to the Exchange Rules by removing any confusion that may result if the Independence Policy retained obsolete references or did not encompass all of the Affiliate SROs. For the same reason, the Exchange believes that the proposed amendments to the Independence Policy would remove impediments to and perfect the mechanism of a free and open market and a national market system by removing confusion that may result if the Independence Policy retained [[Page 42961]] obsolete references or did not include all of the Affiliate SROs. The Exchange notes that the proposed change would be consistent with changes made to the independence policy of the board of directors of ICE, and believes that making the Independence Policy more consistent with the ICE policy would add clarity and transparency to the Exchange Rules, allowing persons subject to the Exchange's jurisdiction, regulators, and investors to more easily navigate and understand the Exchange Rules, contributing to the orderly operation of the Exchange. The Exchange further believes that the proposed changes would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased clarity, thereby reducing potential confusion. 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 competition that is not necessary or appropriate in furtherance of the purposes of the Exchange Act. The proposed rule change is not intended to address competitive issues but rather is concerned solely with updating the Independence Policy to (a) streamline references to ICE subsidiaries that are national securities exchanges, (b) remove obsolete references, and (c) add references to NYSE National and CHX. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \18\ and Rule 19b-4(f)(6) thereunder.\19\ 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 prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b- 4(f)(6)(iii) thereunder. --------------------------------------------------------------------------- \18\ 15 U.S.C. 78s(b)(3)(A)(iii). \19\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \20\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),\21\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \20\ 17 CFR 240.19b-4(f)(6). \21\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- At any time within 60 days of the filing of such 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 under Section 19(b)(2)(B) \22\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \22\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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 Comments Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NYSEAMER-2018-42 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-NYSEAMER-2018-42. 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-NYSEAMER-2018-42 and should be submitted on or before September 14, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\23\ --------------------------------------------------------------------------- \23\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-18293 Filed 8-23-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 165 / Friday, August 24, 2018 / Notices 42959
There are currently three registered SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
OTC derivatives dealers. The staff COMMISSION Statement of the Purpose of, and
expects that three additional firms will Statutory Basis for, the Proposed Rule
register as OTC derivatives dealers [Release No. 34–83890; File No. SR– Change
within the next three years. The staff NYSEAMER–2018–42] 1. Purpose
estimates that the average amount of
time necessary to prepare and file the Self-Regulatory Organizations; NYSE The Exchange proposes to amend the
quarterly reports required by the rule is American LLC; Notice of Filing and Independence Policy by (a) streamlining
eighty hours per OTC derivatives Immediate Effectiveness of Proposed references to ICE subsidiaries that are
dealer 1 and that the average amount of Rule Change To Amend the national securities exchanges, (b)
time to prepare and file the annual audit Independence Policy of the Board of removing obsolete references, and (c)
report is 100 hours per OTC derivatives Directors of the Exchange adding references to national securities
dealer per year, for a total reporting exchange affiliates of the Exchange.
burden of 180 hours per OTC August 20, 2018.
Definition of ‘‘Exchange’’
derivatives dealer annually. Thus the Pursuant to Section 19(b)(1) of the
The Independence Policy includes
staff estimates that the total industry- Securities Exchange Act of 1934
references to the Exchange and its
wide reporting burden to comply with (‘‘Act’’),1 and Rule 19b–4 thereunder,2
national securities exchange affiliates
the requirements of Rule 17a–12 is notice is hereby given that on August
New York Stock Exchange LLC
1,080 hours per year (180 × 6). The 15, 2018, NYSE American LLC (the
(‘‘NYSE’’) and NYSE Arca, Inc. (‘‘NYSE
Commission estimates that the average ‘‘Exchange’’ or ‘‘NYSE American’’) filed
Arca’’).3 It does not include references
annual reporting cost per broker-dealer with the Securities and Exchange
to the Exchange’s newest national
for an independent public accountant to Commission (‘‘Commission’’) the
securities exchange affiliates, NYSE
examine the financial statements is proposed rule change as described in
National, Inc. (‘‘NYSE National’’) and
approximately $46,300 per broker- Items I, II, and III, below, which Items
Chicago Stock Exchange, Inc. (‘‘CHX’’).
dealer. Thus, the total industry-wide have been prepared by the self-
The Exchange proposes to replace lists
annual reporting cost is approximately regulatory organization. The
of individual national securities
$277,800 ($46,300 × 6). Commission is publishing this notice to
exchange affiliates in the Independence
Written comments are invited on: (a) solicit comments on the proposed rule
Policy with the term ‘‘Exchange,’’
Whether the proposed collection of change from interested persons.
defined as any national securities
information is necessary for the proper
I. Self-Regulatory Organization’s exchange registered under Section 6 of
performance of the functions of the
Statement of the Terms of Substance of the Exchange Act 4 and controlled,
Commission, including whether the
the Proposed Rule Change directly or indirectly, by ICE. The
information shall have practical utility;
definition would encompass the
(b) the accuracy of the Commission’s The Exchange proposes to amend the Exchange, NYSE, NYSE Arca, NYSE
estimate of the burden of the proposed Independence Policy of the Board of National, and CHX (collectively, the
collection of information; (c) ways to Directors of the Exchange ‘‘SRO Affiliates’’).
enhance the quality, utility, and clarity (‘‘Independence Policy’’) by (a) Specifically, the Exchange proposes to
of the information to be collected; and streamlining references to add a second paragraph under
(d) ways to minimize the burden of the Intercontinental Exchange, Inc. (‘‘ICE’’) ‘‘Purpose’’ with the definition of
collection of information on subsidiaries that are national securities ‘‘Exchange.’’ 5 In addition, the Exchange
respondents, including through the use exchanges, (b) removing obsolete proposes to make the following changes
of automated collection techniques or references, and (c) adding references to in the section under ‘‘Independence
other forms of information technology. national securities exchange affiliates of Qualifications’’:
Consideration will be given to the Exchange. The proposed rule change • Replace ‘‘New York Stock Exchange
comments and suggestions submitted in is available on the Exchange’s website at LLC, NYSE Arca, Inc. and NYSE
writing within 60 days of this www.nyse.com, at the principal office of American LLC’’ with ‘‘an Exchange’’ in
publication. the Exchange, and at the Commission’s category 1(b) and (c);
An agency may not conduct or Public Reference Room. • Replace ‘‘New York Stock Exchange
sponsor, and a person is not required to LLC, on NYSE Arca, Inc. or on NYSE
respond to, a collection of information II. Self-Regulatory Organization’s
Statement of the Purpose of, and American LLC’’ with ‘‘an Exchange’’ in
unless it displays a currently valid OMB category 1(d) and category 4;
Statutory Basis for, the Proposed Rule
control number.
Change • Replace ‘‘New York Stock Exchange
Please direct your written comments LLC, and NYSE Arca, Inc. and NYSE
to: Pamela Dyson, Director/Chief In its filing with the Commission, the American LLC exercise’’ with ‘‘each
Information Officer, Securities and self-regulatory organization included Exchange exercises’’ in the final
Exchange Commission, c/o Candace statements concerning the purpose of, paragraph of category 1;
Kenner, 100 F Street NE, Washington, and basis for, the proposed rule change • Replace ‘‘New York Stock Exchange
DC 20549, or send an email to: PRA_ and discussed any comments it received LLC, NYSE Arca, Inc., NYSE Arca
Mailbox@sec.gov. on the proposed rule change. The text
3 The independence policy of the board of
Dated: August 21, 2018. of those statements may be examined at
directors of the Exchange’s affiliate NYSE is
Eduardo A. Aleman, the places specified in Item IV below.
daltland on DSKBBV9HB2PROD with NOTICES
substantially the same as the Independence Policy.
Assistant Secretary. The Exchange has prepared summaries, NYSE has submitted substantially the same
[FR Doc. 2018–18358 Filed 8–23–18; 8:45 am]
set forth in sections A, B, and C below, proposed rule change to its independence policy as
of the most significant parts of such described herein. See SR–NYSE–2018–38.
BILLING CODE 8011–01–P 4 15 U.S.C. 78f.
statements. 5 The proposed text would include the definition
1 Based upon an average of 4 responses per year of ‘‘ICE.’’ Accordingly, the Exchange proposes to
1 15 U.S.C. 78s(b)(1).
and an average of 20 hours spent preparing each delete the definition of ICE in ‘‘Independence
response. 2 17 CFR 240.19b–4. Requirements,’’ category 1.
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![Federal Register / Vol. 83, No. 165 / Friday, August 24, 2018 / Notices 42961
obsolete references or did not include proposed rule change has become Commission, and all written
all of the Affiliate SROs. effective pursuant to Section 19(b)(3)(A) communications relating to the
The Exchange notes that the proposed of the Act and Rule 19b–4(f)(6)(iii) proposed rule change between the
change would be consistent with thereunder. Commission and any person, other than
changes made to the independence A proposed rule change filed under those that may be withheld from the
policy of the board of directors of ICE, Rule 19b–4(f)(6) 20 normally does not public in accordance with the
and believes that making the become operative prior to 30 days after provisions of 5 U.S.C. 552, will be
Independence Policy more consistent the date of the filing. However, pursuant available for website viewing and
with the ICE policy would add clarity to Rule 19b4(f)(6)(iii),21 the Commission printing in the Commission’s Public
and transparency to the Exchange Rules, may designate a shorter time if such Reference Room, 100 F Street NE,
allowing persons subject to the action is consistent with the protection Washington, DC 20549, on official
Exchange’s jurisdiction, regulators, and of investors and the public interest. business days between the hours of
investors to more easily navigate and At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the
understand the Exchange Rules, filing of such proposed rule change, the filing also will be available for
contributing to the orderly operation of Commission summarily may inspection and copying at the principal
the Exchange. The Exchange further temporarily suspend such rule change if office of the Exchange. All comments
believes that the proposed changes it appears to the Commission that such received will be posted without change.
would not be inconsistent with the action is necessary or appropriate in the Persons submitting comments are
public interest and the protection of public interest, for the protection of cautioned that we do not redact or edit
investors because investors will not be investors, or otherwise in furtherance of personal identifying information from
harmed and in fact would benefit from the purposes of the Act. If the comment submissions. You should
increased clarity, thereby reducing Commission takes such action, the submit only information that you wish
potential confusion. Commission shall institute proceedings to make available publicly. All
under Section 19(b)(2)(B) 22 of the Act to submissions should refer to File
B. Self-Regulatory Organization’s Number SR–NYSEAMER–2018–42 and
determine whether the proposed rule
Statement on Burden on Competition should be submitted on or before
change should be approved or
The Exchange does not believe that disapproved. September 14, 2018.
the proposed rule change will impose For the Commission, by the Division of
any burden on competition that is not IV. Solicitation of Comments
Trading and Markets, pursuant to delegated
necessary or appropriate in furtherance Interested persons are invited to authority.23
of the purposes of the Exchange Act. submit written data, views, and Eduardo A. Aleman,
The proposed rule change is not arguments concerning the foregoing, Assistant Secretary.
intended to address competitive issues including whether the proposed rule [FR Doc. 2018–18293 Filed 8–23–18; 8:45 am]
but rather is concerned solely with change is consistent with the Act. BILLING CODE 8011–01–P
updating the Independence Policy to (a) Comments may be submitted by any of
streamline references to ICE subsidiaries the following methods:
that are national securities exchanges, SECURITIES AND EXCHANGE
Electronic Comments
(b) remove obsolete references, and (c) COMMISSION
add references to NYSE National and • Use the Commission’s internet
CHX. comment form (http://www.sec.gov/ Submission for OMB Review;
rules/sro.shtml); or Comment Request
C. Self-Regulatory Organization’s • Send an email to rule-comments@
Statement on Comments on the sec.gov. Please include File Number SR– Upon Written Request Copies Available
Proposed Rule Change Received From NYSEAMER–2018–42 on the subject From: U.S. Securities and Exchange
Members, Participants, or Others line. Commission, Office of FOIA Services,
No written comments were solicited 100 F Street NE, Washington, DC
Paper Comments 20549–2736
or received with respect to the proposed
rule change. • Send paper comments in triplicate Extension for Generic ICR:
to Secretary, Securities and Exchange Generic Clearance for the Collection of
III. Date of Effectiveness of the Commission, 100 F Street NE, Qualitative Feedback on Agency Service
Proposed Rule Change and Timing for Washington, DC 20549–1090. Delivery, SEC File No. 270–789, OMB
Commission Action All submissions should refer to File Control No. 3235–0731
The Exchange has filed the proposed Number SR–NYSEAMER–2018–42. This Notice is hereby given that, pursuant
rule change pursuant to Section file number should be included on the to the Paperwork Reduction Act of 1995
19(b)(3)(A)(iii) of the Act 18 and Rule subject line if email is used. To help the (44 U.S.C. 3501 et seq.), the Securities
19b–4(f)(6) thereunder.19 Because the Commission process and review your and Exchange Commission
proposed rule change does not: (i) comments more efficiently, please use (‘‘Commission’’) is soliciting comments
Significantly affect the protection of only one method. The Commission will on the collection of information
investors or the public interest; (ii) post all comments on the Commission’s summarized below. The Commission
impose any significant burden on internet website (http://www.sec.gov/ plans to submit this existing collection
competition; and (iii) become operative rules/sro.shtml). Copies of the of information to the Office of
prior to 30 days from the date on which submission, all subsequent Management and Budget for extension
daltland on DSKBBV9HB2PROD with NOTICES
it was filed, or such shorter time as the amendments, all written statements and approval.
Commission may designate, if with respect to the proposed rule The information collection activity
consistent with the protection of change that are filed with the will garner qualitative customer and
investors and the public interest, the stakeholder feedback in an efficient,
20 17 CFR 240.19b–4(f)(6). timely manner, in accordance with the
18 15 U.S.C. 78s(b)(3)(A)(iii). 21 17 CFR 240.19b–4(f)(6)(iii).
19 17 CFR 240.19b–4(f)(6). 22 15 U.S.C. 78s(b)(2)(B). 23 17 CFR 200.30–3(a)(12).
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Document Created: 2018-08-24 04:13:56
Document Modified: 2018-08-24 04:13:56
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| FR Citation | 83 FR 42959 |
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