83 FR 43720 - Self-Regulatory Organizations; New York Stock Exchange 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 166 (August 27, 2018)
Federal Register Volume 83, Issue 166 (August 27, 2018)
| Page Range | 43720-43722 | |
| FR Document | 2018-18428 |
[Federal Register Volume 83, Number 166 (Monday, August 27, 2018)] [Notices] [Pages 43720-43722] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-18428] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83892; File No. SR-NYSE-2018-38] Self-Regulatory Organizations; New York Stock Exchange 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 21, 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, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') 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 Exchange. 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 by (a) streamlining references to Intercontinental Exchange, Inc. 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 NYSE American, Inc. (``NYSE American'') 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 American, 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 American is substantially the same as the Independence Policy. NYSE American has submitted substantially the same proposed rule change to its independence policy as described herein. See SR-NYSEAmer-2018-42. \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; [[Page 43721]] Replace ``New York Stock Exchange LLC, NYSE Arca, Inc., NYSE Arca 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. 82081 (November 15, 2017), 82 FR 55474 (November 21, 2017) (SR-NYSE-2017-57). 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 Exchange 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. 83342 (May 30, 2018), 83 FR 26125 (June 5, 2018) (SR-NYSE-2018-19). --------------------------------------------------------------------------- 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 26125, 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 [[Page 43722]] removing confusion that may result if the Independence Policy retained 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 [email protected]. Please include File Number SR-NYSE-2018-38 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-NYSE-2018-38. 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-NYSE-2018-38 and should be submitted on or before September 17, 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. 2018-18428 Filed 8-24-18; 8:45 am] BILLING CODE 8011-01-P
![43720 Federal Register / Vol. 83, No. 166 / Monday, August 27, 2018 / Notices
Regulated Funds and Affiliated Funds SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
on a pro rata basis based on the amounts COMMISSION Statement of the Purpose of, and
they invested or committed, as the case Statutory Basis for, the Proposed Rule
may be, in such Co-Investment [Release No. 34–83892; File No. SR–NYSE– Change
Transaction. If any transaction fee is to 2018–38] 1. Purpose
be held by an Adviser pending
consummation of the transaction, the Self-Regulatory Organizations; New The Exchange proposes to amend the
fee will be deposited into an account York Stock Exchange LLC; Notice of Independence Policy by (a) streamlining
maintained by such Adviser at a bank or Filing and Immediate Effectiveness of references to ICE subsidiaries that are
banks having the qualifications Proposed Rule Change To Amend the national securities exchanges, (b)
Independence Policy of the Board of removing obsolete references, and (c)
prescribed in section 26(a)(1) of the Act,
Directors of the Exchange adding references to national securities
and the account will earn a competitive
exchange affiliates of the Exchange.
rate of interest that will also be divided
August 21, 2018.
pro rata among the participating Definition of ‘‘Exchange’’
Regulated Funds and Affiliated Funds Pursuant to Section 19(b)(1) of the
The Independence Policy includes
based on the amounts they invest in Securities Exchange Act of 1934
references to the Exchange and its
such Co-Investment Transaction. None (‘‘Act’’),1 and Rule 19b–4 thereunder,2
national securities exchange affiliates
of the Affiliated Funds, the Advisers, notice is hereby given that on August
NYSE American, Inc. (‘‘NYSE
the other Regulated Funds or any 15, 2018, New York Stock Exchange
American’’) and NYSE Arca, Inc.
affiliated person of the Regulated Funds LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
(‘‘NYSE Arca’’).3 It does not include
or Affiliated Funds will receive with the Securities and Exchange
references to the Exchange’s newest
additional compensation or Commission (‘‘Commission’’) the
national securities exchange affiliates,
remuneration of any kind as a result of proposed rule change as described in
NYSE National, Inc. (‘‘NYSE National’’)
Items I, II, and III, below, which Items
or in connection with a Co-Investment and Chicago Stock Exchange, Inc.
have been prepared by the Exchange. (‘‘CHX’’). The Exchange proposes to
Transaction (other than (a) in the case
The Commission is publishing this replace lists of individual national
of the Regulated Funds and the
notice to solicit comments on the securities exchange affiliates in the
Affiliated Funds, the pro rata proposed rule change from interested
transaction fees described above and Independence Policy with the term
persons. ‘‘Exchange,’’ defined as any national
fees or other compensation described in
condition 2(c)(iii)(C); and (b) in the case I. Self-Regulatory Organization’s securities exchange registered under
of an Adviser, investment advisory fees Statement of the Terms of Substance of Section 6 of the Exchange Act 4 and
paid in accordance with the agreement the Proposed Rule Change controlled, directly or indirectly, by ICE.
between the Adviser and the Regulated The definition would encompass the
The Exchange proposes to amend the Exchange, NYSE American, NYSE Arca,
Fund or Affiliated Fund.
Independence Policy of the Board of NYSE National, and CHX (collectively,
14. If the Holders own in the aggregate Directors of the Exchange by (a) the ‘‘SRO Affiliates’’).
more than 25% of the Shares of a streamlining references to Specifically, the Exchange proposes to
Regulated Fund, then the Holders will Intercontinental Exchange, Inc. add a second paragraph under
vote such Shares as directed by an subsidiaries that are national securities ‘‘Purpose’’ with the definition of
independent third party when voting on exchanges, (b) removing obsolete ‘‘Exchange.’’ 5 In addition, the Exchange
(1) the election of directors; (2) the references, and (c) adding references to proposes to make the following changes
removal of one or more directors; or (3) national securities exchange affiliates of in the section under ‘‘Independence
any other matter under either the Act or the Exchange. The proposed rule change Qualifications’’:
applicable State law affecting the is available on the Exchange’s website at • Replace ‘‘New York Stock Exchange
Board’s composition, size or manner of www.nyse.com, at the principal office of LLC, NYSE Arca, Inc. and NYSE
election. the Exchange, and at the Commission’s American LLC’’ with ‘‘an Exchange’’ in
Public Reference Room. category 1(b) and (c);
15. Each Regulated Fund’s chief
compliance officer, as defined in rule II. Self-Regulatory Organization’s • Replace ‘‘New York Stock Exchange
38a–1(a)(4), will prepare an annual Statement of the Purpose of, and LLC, on NYSE Arca, Inc. or on NYSE
report for its Board that evaluates (and Statutory Basis for, the Proposed Rule American LLC’’ with ‘‘an Exchange’’ in
Change category 1(d) and category 4;
documents the basis of that evaluation)
• Replace ‘‘New York Stock Exchange
the Regulated Fund’s compliance with
In its filing with the Commission, the LLC, and NYSE Arca, Inc. and NYSE
the terms and conditions of the
self-regulatory organization included American LLC exercise’’ with ‘‘each
application and the procedures
statements concerning the purpose of, Exchange exercises’’ in the final
established to achieve such compliance. paragraph of category 1;
and basis for, the proposed rule change
For the Commission, by the Division of and discussed any comments it received
Investment Management, under delegated on the proposed rule change. The text 3 The independence policy of the board of
authority. of those statements may be examined at directors of the Exchange’s affiliate NYSE American
is substantially the same as the Independence
Eduardo A. Aleman, the places specified in Item IV below.
amozie on DSK3GDR082PROD with NOTICES1
Policy. NYSE American has submitted substantially
Assistant Secretary. The Exchange has prepared summaries, the same proposed rule change to its independence
[FR Doc. 2018–18427 Filed 8–24–18; 8:45 am] set forth in sections A, B, and C below, policy as described herein. See SR–NYSEAmer–
of the most significant parts of such 2018–42.
BILLING CODE 8011–01–P 4 15 U.S.C. 78f.
statements. 5 The proposed text would include the definition
of ‘‘ICE.’’ Accordingly, the Exchange proposes to
1 15 U.S.C. 78s(b)(1). delete the definition of ICE in ‘‘Independence
2 17 CFR 240.19b–4. Requirements,’’ category 1.
VerDate Sep<11>2014 17:51 Aug 24, 2018 Jkt 244001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 E:\FR\FM\27AUN1.SGM 27AUN1](https://thefederalregister.org/doc/83_FR_43886/page/1.svg)
![43722 Federal Register / Vol. 83, No. 166 / Monday, August 27, 2018 / Notices
removing confusion that may result if consistent with the protection of change that are filed with the
the Independence Policy retained investors and the public interest, the Commission, and all written
obsolete references or did not include proposed rule change has become communications relating to the
all of the Affiliate SROs. effective pursuant to Section 19(b)(3)(A) proposed rule change between the
The Exchange notes that the proposed of the Act and Rule 19b–4(f)(6)(iii) Commission and any person, other than
change would be consistent with thereunder. those that may be withheld from the
changes made to the independence A proposed rule change filed under public in accordance with the
policy of the board of directors of ICE, Rule 19b–4(f)(6) 20 normally does not provisions of 5 U.S.C. 552, will be
and believes that making the become operative prior to 30 days after available for website viewing and
Independence Policy more consistent the date of the filing. However, pursuant printing in the Commission’s Public
with the ICE policy would add clarity to Rule 19b4(f)(6)(iii),21 the Commission Reference Room, 100 F Street NE,
and transparency to the Exchange Rules, may designate a shorter time if such Washington, DC 20549, on official
allowing persons subject to the action is consistent with the protection business days between the hours of
Exchange’s jurisdiction, regulators, and of investors and the public interest. 10:00 a.m. and 3:00 p.m. Copies of the
investors to more easily navigate and At any time within 60 days of the filing also will be available for
understand the Exchange Rules, filing of such proposed rule change, the inspection and copying at the principal
contributing to the orderly operation of Commission summarily may office of the Exchange. All comments
the Exchange. The Exchange further temporarily suspend such rule change if received will be posted without change.
believes that the proposed changes it appears to the Commission that such Persons submitting comments are
would not be inconsistent with the action is necessary or appropriate in the cautioned that we do not redact or edit
public interest and the protection of public interest, for the protection of personal identifying information from
investors because investors will not be investors, or otherwise in furtherance of comment submissions. You should
harmed and in fact would benefit from the purposes of the Act. If the submit only information that you wish
increased clarity, thereby reducing Commission takes such action, the to make available publicly. All
potential confusion. Commission shall institute proceedings submissions should refer to File
under Section 19(b)(2)(B) 22 of the Act to Number SR–NYSE–2018–38 and should
B. Self-Regulatory Organization’s
determine whether the proposed rule be submitted on or before September 17,
Statement on Burden on Competition
change should be approved or 2018.
The Exchange does not believe that disapproved. For the Commission, by the Division of
the proposed rule change will impose
IV. Solicitation of Comments Trading and Markets, pursuant to delegated
any burden on competition that is not authority.23
necessary or appropriate in furtherance Interested persons are invited to
Eduardo A. Aleman,
of the purposes of the Exchange Act. submit written data, views, and
arguments concerning the foregoing, Assistant Secretary.
The proposed rule change is not
intended to address competitive issues including whether the proposed rule [FR Doc. 2018–18428 Filed 8–24–18; 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, SMALL BUSINESS ADMINISTRATION
Electronic Comments
(b) remove obsolete references, and (c) [Disaster Declaration #15642 and #15643;
add references to NYSE National and • Use the Commission’s internet NEW MEXICO Disaster Number NM–00062]
CHX. comment form (http://www.sec.gov/
rules/sro.shtml); or Administrative Declaration of a
C. Self-Regulatory Organization’s • Send an email to rule-comments@ Disaster for the State of NEW MEXICO
Statement on Comments on the sec.gov. Please include File Number SR–
Proposed Rule Change Received From NYSE–2018–38 on the subject line. AGENCY: U.S. Small Business
Members, Participants, or Others Administration.
Paper Comments
No written comments were solicited ACTION: Notice.
or received with respect to the proposed • Send paper comments in triplicate
to Secretary, Securities and Exchange SUMMARY: This is a notice of an
rule change.
Commission, 100 F Street NE, Administrative declaration of a disaster
III. Date of Effectiveness of the Washington, DC 20549–1090. for the State of NEW MEXICO dated 08/
Proposed Rule Change and Timing for All submissions should refer to File 15/2018.
Commission Action Number SR–NYSE–2018–38. This file Incident: Severe Storms and Flash
The Exchange has filed the proposed number should be included on the Flooding.
rule change pursuant to Section subject line if email is used. To help the Incident Period: 07/23/2018 through
19(b)(3)(A)(iii) of the Act 18 and Rule Commission process and review your 07/27/2018.
19b–4(f)(6) thereunder.19 Because the comments more efficiently, please use DATES: Issued on 08/15/2018.
proposed rule change does not: (i) only one method. The Commission will Physical Loan Application Deadline
Significantly affect the protection of post all comments on the Commission’s Date: 10/15/2018.
investors or the public interest; (ii) internet website (http://www.sec.gov/ Economic Injury (EIDL) Loan
impose any significant burden on rules/sro.shtml). Copies of the Application Deadline Date: 05/15/2019.
amozie on DSK3GDR082PROD with NOTICES1
competition; and (iii) become operative submission, all subsequent ADDRESSES: Submit completed loan
prior to 30 days from the date on which amendments, all written statements applications to: U.S. Small Business
it was filed, or such shorter time as the with respect to the proposed rule Administration, Processing and
Commission may designate, if Disbursement Center, 14925 Kingsport
20 17 CFR 240.19b–4(f)(6). Road, Fort Worth, TX 76155.
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).
VerDate Sep<11>2014 17:51 Aug 24, 2018 Jkt 244001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\27AUN1.SGM 27AUN1](https://thefederalregister.org/doc/83_FR_43886/page/3.svg)
Document Created: 2018-08-25 01:48:26
Document Modified: 2018-08-25 01:48:26
| 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 43720 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR