83 FR 51529 - Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rules 203, Qualification and Registration of Members and Associated Persons, 1301, Registration of Options Principals, and 1302, Registration of Representatives, Relating to Registration and Qualification Examinations Required for Members and Associated Persons of Members That Engage in Trading Activities on the Exchange
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 197 (October 11, 2018)
Federal Register Volume 83, Issue 197 (October 11, 2018)
| Page Range | 51529-51531 | |
| FR Document | 2018-22044 |
[Federal Register Volume 83, Number 197 (Thursday, October 11, 2018)] [Notices] [Pages 51529-51531] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-22044] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84361; File No. SR-MIAX-2018-26] Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rules 203, Qualification and Registration of Members and Associated Persons, 1301, Registration of Options Principals, and 1302, Registration of Representatives, Relating to Registration and Qualification Examinations Required for Members and Associated Persons of Members That Engage in Trading Activities on the Exchange October 4, 2018. Pursuant to the provisions of 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 September 27, 2018, Miami International Securities Exchange, LLC (``MIAX Options'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') a proposed rule change as described in Items I and II 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 is filing a proposal to amend Rules 203, Qualification and Registration of Members and Associated Persons, 1301, Registration of Options Principals, and 1302, Registration of Representatives, relating to registration and qualification examinations required for Members and Associated Persons of Members that engage in trading activities on the Exchange. The text of the proposed rule change is available on the Exchange's website at http://www.miaxoptions.com/rule-filings/ at MIAX Options' principal office, 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 Securities and Exchange Commission (the ``SEC'' or the ``Commission'') recently approved a proposed rule change to restructure the Financial Industry Regulatory Authority (``FINRA'') representative- level qualification examination program.\3\ The rule change, which will become effective on October 1, 2018, restructures the examination program into a more efficient format whereby all new representative- level applicants will be required to take a general knowledge examination (the Securities Industry Essentials Examination (``SIE'')) and a tailored, specialized knowledge examination (a revised representative-level qualification examination) for their particular registered role. Individuals are not required to be associated with the Exchange or any other self-regulatory organization (``SRO'') member to be eligible to take the SIE. However, passing the SIE alone will not qualify an individual for registration with the Exchange. To be eligible for registration, an individual must also be associated with a firm, pass an appropriate qualification examination for a representative or principal and satisfy the other requirements relating to the registration process. --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 81098 (July 7, 2017), 82 FR 32419 (July 13, 2017) (Order Approving File No. SR- FINRA-2017-007). --------------------------------------------------------------------------- The SIE will assess basic product knowledge; the structure and function of the securities industry markets, regulatory agencies and their functions; and regulated and prohibited practices. In particular, the SIE will cover four major areas. The first, ``Knowledge of Capital Markets,'' focuses on topics such as types of markets and offerings, broker-dealers and depositories, and economic cycles. The second, ``Understanding Products and Their Risks,'' covers securities products at a high level as well as associated investment risks. The third, ``Understanding Trading, Customer Accounts and Prohibited Activities,'' focuses on accounts, orders, settlement and prohibited activities. The final, [[Page 51530]] ``Overview of the Regulatory Framework,'' encompasses topics such as SROs, registration requirements and specified conduct rules. It is anticipated that the SIE will include 75 scored questions plus an additional 10 unscored pretest questions. The passing score will be determined through methodologies compliant with testing industry standards used to develop examinations and set passing standards. The restructured program will eliminate duplicative testing of general securities knowledge on the current representative-level qualification examinations by moving such content into the SIE. The SIE will test fundamental securities related knowledge, including knowledge of basic products, the structure and function of the securities industry, the regulatory agencies and their functions and regulated and prohibited practices, whereas the revised representative-level qualification examinations will test knowledge relevant to day-to-day activities, responsibilities and job functions of representatives. The SIE was developed in consultation with a committee of industry representatives and representatives of several SROs. Each of the current representative-level examinations covers general securities knowledge, with the exception of the Research Analyst (Series 86 and 87) examinations. The Exchange proposes to require that effective October 1, 2018, new applicants seeking to register in a representative capacity with the Exchange must pass the SIE before their registrations can become effective. The Exchange proposes to make the requirement operative on October 1, 2018 to coincide with the effective date of FINRA's requirement. The Exchange notes that individuals who are registered as of October 1, 2018 will be eligible to maintain their registrations without being subject to any additional requirements. Individuals who have been registered within the last two years prior to October 1, 2018, will also be eligible to maintain those registrations without being subject to any additional requirements, provided they register within two years from the date of their last registration. However, with respect to an individual who is not registered on the effective date of the proposed rule change but was registered within the last two years prior to the effective date of the proposed rule change, the individual's SIE status in the Central Registration Depository (``CRD'') system would be administratively terminated if such individual does not register with the Exchange within four years from the date of the individual's last registration. The Exchange also notes that consistent with Rule 203 Interpretations and Policies .05, the Exchange will consider waivers of the SIE alone or the SIE and the representative or principal-level examination(s) for applicants who are seeking registration in a representative-or principal-level registration category.\4\ --------------------------------------------------------------------------- \4\ Pursuant to a Regulatory Services Agreement between FINRA and MIAX Options, FINRA provides MIAX Options certain exam waiver services in responding to exam waiver requests from MIAX Members. --------------------------------------------------------------------------- The Exchange also proposes to add Interpretations and Policies .09 to Rule 203 ``Summary of Qualifications Requirements'' which summarizes the qualification requirements for each of the required registration categories described in the Exchange Rules. 2. Statutory Basis The Exchange believes that its proposed rule change is consistent with Section 6(b) of the Act \5\ in general, and furthers the objectives of Section 6(b)(5) of the Act \6\ in particular, 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 mechanisms of a free and open market and a national market system, and, in general to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \7\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). \7\ Id. --------------------------------------------------------------------------- The Exchange believes that the proposed rule change will improve the efficiency of the Exchange's examination requirements, without compromising the qualification standards, by eliminating duplicative testing of general securities knowledge on examinations. FINRA has indicated that the SIE was developed in an effort to adopt an examination that would assess basic product knowledge; the structure and function of the securities industry markets, regulatory agencies and their functions; and regulated and prohibited practices. The Exchange also notes that the introduction of the SIE and expansion of the pool of individuals who are eligible to take the SIE, has the potential of enhancing the pool of prospective securities industry professionals by introducing them to securities laws, rules and regulations and appropriate conduct before they join the industry in a registered capacity. Lastly, the Exchange notes adopting the SIE requirement is consistent with the requirement recently adopted by FINRA.\8\ --------------------------------------------------------------------------- \8\ See supra note 3. --------------------------------------------------------------------------- Furthermore, the Exchange believes that adding Interpretations and Policies .09 to Rule 203 will provide greater clarity regarding the Exchange's examination requirements as updated by, and those remaining in effect following, the proposed rule change, and consistency with the rules of other exchanges.\9\ --------------------------------------------------------------------------- \9\ See e.g. Cboe Exchange, Inc. Rule 3.6A Interpretations and Policies .08(b) and Nasdaq ISE, LLC Rule 313 Registration Requirements Supplementary Material .08(b). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition MIAX Options 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 Act. The Exchange believes that the proposed rule change, which harmonizes its rules with recent rule changes adopted by FINRA and which is being filed in conjunction with similar filings by the other national securities exchanges, will reduce the regulatory burden placed on market participants engaged in trading activities across different markets. The Exchange believes that the harmonization of these registration requirements across the various markets will reduce burdens on competition by removing impediments to participation in the national market system and promoting competition among participants across the multiple national securities exchanges. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing 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 [[Page 51531]] 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6) thereunder. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative for 30 days from the date of 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 30-day operative delay so that the proposal may become operative on October 1, 2018 to coincide with the effective date of FINRA's proposed rule change on which the proposal is based.\12\ The waiver of the operative delay would make the Exchange's qualification requirements consistent with those of FINRA, as of October 1, 2018. Therefore, the Commission believes that the waiver of the 30-day operative delay is consistent with the protection of investors and the public interest and hereby waives the 30-day operative delay and designates the proposal operative on October 1, 2018.\13\ --------------------------------------------------------------------------- \11\ 17 CFR 240.19b-4(f)(6)(iii). \12\ See supra note 3. \13\ 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. 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 rule-comments@sec.gov. Please include File Number SR-MIAX-2018-26 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-MIAX-2018-26. 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 submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-MIAX-2018-26 and should be submitted on or before November 1, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-22044 Filed 10-10-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 197 / Thursday, October 11, 2018 / Notices 51529
Electronic Comments SECURITIES AND EXCHANGE any comments it received on the
COMMISSION proposed rule change. The text of these
• Use the Commission’s internet statements may be examined at the
comment form (http://www.sec.gov/ [Release No. 34–84361; File No. SR–MIAX–
places specified in Item IV below. The
rules/sro.shtml); or 2018–26]
Exchange has prepared summaries, set
• Send an email to rule-comments@ Self-Regulatory Organizations; Miami forth in sections A, B, and C below, of
sec.gov. Please include File Number SR– International Securities Exchange, the most significant aspects of such
CboeBZX–2018–001 on the subject line. LLC; Notice of Filing and Immediate statements.
Effectiveness of a Proposed Rule A. Self-Regulatory Organization’s
Paper Comments Change To Amend Exchange Rules Statement of the Purpose of, and
• Send paper comments in triplicate 203, Qualification and Registration of Statutory Basis for, the Proposed Rule
to Secretary, Securities and Exchange Members and Associated Persons, Change
Commission, 100 F Street NE, 1301, Registration of Options
Principals, and 1302, Registration of 1. Purpose
Washington, DC 20549–1090.
Representatives, Relating to The Securities and Exchange
All submissions should refer to File Registration and Qualification Commission (the ‘‘SEC’’ or the
Number SR–CboeBZX–2018–001. This Examinations Required for Members ‘‘Commission’’) recently approved a
file number should be included on the and Associated Persons of Members proposed rule change to restructure the
subject line if email is used. To help the That Engage in Trading Activities on Financial Industry Regulatory Authority
Commission process and review your the Exchange (‘‘FINRA’’) representative-level
comments more efficiently, please use qualification examination program.3
October 4, 2018. The rule change, which will become
only one method. The Commission will Pursuant to the provisions of Section
post all comments on the Commission’s effective on October 1, 2018,
19(b)(1) of the Securities Exchange Act restructures the examination program
internet website (http://www.sec.gov/ of 1934 (‘‘Act’’) 1 and Rule 19b–4
rules/sro.shtml). Copies of the into a more efficient format whereby all
thereunder,2 notice is hereby given that new representative-level applicants will
submission, all subsequent on September 27, 2018, Miami be required to take a general knowledge
amendments, all written statements International Securities Exchange, LLC examination (the Securities Industry
with respect to the proposed rule (‘‘MIAX Options’’ or the ‘‘Exchange’’) Essentials Examination (‘‘SIE’’)) and a
change that are filed with the filed with the Securities and Exchange tailored, specialized knowledge
Commission, and all written Commission (‘‘Commission’’) a examination (a revised representative-
communications relating to the proposed rule change as described in level qualification examination) for their
proposed rule change between the Items I and II below, which Items have particular registered role. Individuals
Commission and any person, other than been prepared by the Exchange. The are not required to be associated with
those that may be withheld from the Commission is publishing this notice to the Exchange or any other self-
public in accordance with the solicit comments on the proposed rule regulatory organization (‘‘SRO’’)
provisions of 5 U.S.C. 552, will be change from interested persons. member to be eligible to take the SIE.
available for website viewing and I. Self-Regulatory Organization’s However, passing the SIE alone will not
printing in the Commission’s Public Statement of the Terms of Substance of qualify an individual for registration
Reference Room, 100 F Street NE, the Proposed Rule Change with the Exchange. To be eligible for
Washington, DC 20549 on official registration, an individual must also be
The Exchange is filing a proposal to associated with a firm, pass an
business days between the hours of
amend Rules 203, Qualification and appropriate qualification examination
10:00 a.m. and 3:00 p.m. Copies of the Registration of Members and Associated
filing will also be available for for a representative or principal and
Persons, 1301, Registration of Options satisfy the other requirements relating to
inspection and copying at the principal Principals, and 1302, Registration of
office of the Exchange. All comments the registration process.
Representatives, relating to registration The SIE will assess basic product
received will be posted without change. and qualification examinations required knowledge; the structure and function
Persons submitting comments are for Members and Associated Persons of of the securities industry markets,
cautioned that we do not redact or edit Members that engage in trading regulatory agencies and their functions;
personal identifying information from activities on the Exchange. and regulated and prohibited practices.
comment submissions. You should The text of the proposed rule change In particular, the SIE will cover four
submit only information that you wish is available on the Exchange’s website at major areas. The first, ‘‘Knowledge of
to make available publicly. All http://www.miaxoptions.com/rule- Capital Markets,’’ focuses on topics such
submissions should refer to File filings/ at MIAX Options’ principal as types of markets and offerings,
Number SR–CboeBZX–2018–001 and office, and at the Commission’s Public broker-dealers and depositories, and
should be submitted on or before Reference Room. economic cycles. The second,
November 1, 2018. II. Self-Regulatory Organization’s ‘‘Understanding Products and Their
Statement of the Purpose of, and Risks,’’ covers securities products at a
By the Commission.
Statutory Basis for, the Proposed Rule high level as well as associated
Eduardo A. Aleman, investment risks. The third,
Change
khammond on DSK30JT082PROD with NOTICES
Assistant Secretary. ‘‘Understanding Trading, Customer
[FR Doc. 2018–22096 Filed 10–10–18; 8:45 am] In its filing with the Commission, the Accounts and Prohibited Activities,’’
BILLING CODE 8011–01–P
Exchange included statements focuses on accounts, orders, settlement
concerning the purpose of and basis for and prohibited activities. The final,
the proposed rule change and discussed
3 See Securities Exchange Act Release No. 81098
1 15 U.S.C. 78s(b)(1). (July 7, 2017), 82 FR 32419 (July 13, 2017) (Order
2 17 CFR 240.19b–4. Approving File No. SR–FINRA–2017–007).
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![Federal Register / Vol. 83, No. 197 / Thursday, October 11, 2018 / Notices 51531
19(b)(3)(A) of the Act 10 and Rule 19b– number should be included on the SECURITIES AND EXCHANGE
4(f)(6) thereunder. subject line if email is used. To help the COMMISSION
A proposed rule change filed under Commission process and review your
Rule 19b–4(f)(6) normally does not comments more efficiently, please use [Securities Exchange Act of 1934; Release
become operative for 30 days from the only one method. The Commission will No. 34–84370/October 4, 2018]
date of filing. However, Rule 19b– post all comments on the Commission’s
4(f)(6)(iii) 11 permits the Commission to internet website (http://www.sec.gov/ In the Matter of the NYSE Arca, Inc. For
designate a shorter time if such action rules/sro.shtml). Copies of the an Order of Disapproval of Proposed
is consistent with the protection of submission, all subsequent Rule Change Relating To Listing and
investors and the public interest. The amendments, all written statements
Trading of the Direxion Daily Bitcoin
Exchange has asked the Commission to Bear 1X Shares, Direxion Daily Bitcoin
with respect to the proposed rule
waive the 30-day operative delay so that 1.25X Bull Shares, Direxion Daily
change that are filed with the
the proposal may become operative on Bitcoin 1.5X Bull Shares, Direxion
October 1, 2018 to coincide with the Commission, and all written Daily Bitcoin 2X Bull Shares, and
effective date of FINRA’s proposed rule communications relating to the Direxion Daily Bitcoin 2X Bear Shares
change on which the proposal is proposed rule change between the Under NYSE Arca Rule 8.200–E (File
based.12 The waiver of the operative Commission and any person, other than No. SR–NYSEArca–2018–02); Order
delay would make the Exchange’s those that may be withheld from the Scheduling Filing of Statements on
qualification requirements consistent public in accordance with the Review
with those of FINRA, as of October 1, provisions of 5 U.S.C. 552, will be
2018. Therefore, the Commission available for website viewing and On January 4, 2018, NYSE Arca, Inc.
believes that the waiver of the 30-day printing in the Commission’s Public (‘‘NYSE Arca’’) filed with the Securities
operative delay is consistent with the Reference Room, 100 F Street NE, and Exchange Commission
protection of investors and the public Washington, DC 20549, on official (‘‘Commission’’), pursuant to Section
interest and hereby waives the 30-day business days between the hours of 19(b)(1) of the Securities Exchange Act
operative delay and designates the of 1934 (‘‘Exchange Act’’) 1 and Rule
10:00 a.m. and 3:00 p.m. Copies of the
proposal operative on October 1, 2018.13 19b–4 thereunder,2 a proposed rule
filing also will be available for
At any time within 60 days of the change to list and trade shares of the
inspection and copying at the principal following exchange-traded products
filing of the proposed rule change, the office of the Exchange. All comments
Commission summarily may under NYSE Arca Rule 8.200–E,
received will be posted without change. Commentary .02: Direxion Daily Bitcoin
temporarily suspend such rule change if Persons submitting comments are
it appears to the Commission that such Bear 1X Shares, Direxion Daily Bitcoin
cautioned that we do not redact or edit 1.25X Bull Shares, Direxion Daily
action is necessary or appropriate in the personal identifying information from
public interest, for the protection of Bitcoin 1.5X Bull Shares, Direxion Daily
submissions. You should submit only Bitcoin 2X Bull Shares, and Direxion
investors, or otherwise in furtherance of
information that you wish to make Daily Bitcoin 2X Bear Shares. The
the purposes of the Act.
available publicly. All submissions proposed rule change was published for
IV. Solicitation of Comments should refer to File Number SR–MIAX– comment in the Federal Register on
Interested persons are invited to 2018–26 and should be submitted on or January 24, 2018.3
submit written data, views, and before November 1, 2018. On March 1, 2018, pursuant to
arguments concerning the foregoing, For the Commission, by the Division of Section 19(b)(2) of the Exchange Act,
including whether the proposed rule Trading and Markets, pursuant to delegated the Commission designated a longer
change is consistent with the Act. authority.14 period within which to approve the
Comments may be submitted by any of proposed rule change, disapprove the
Eduardo A. Aleman,
the following methods: proposed rule change, or institute
Assistant Secretary. proceedings to determine whether to
Electronic Comments [FR Doc. 2018–22044 Filed 10–10–18; 8:45 am] approve or disapprove the proposed
• Use the Commission’s internet BILLING CODE 8011–01–P rule change.4 On April 23, 2018, the
comment form (http://www.sec.gov/ Commission instituted proceedings
rules/sro.shtml); or under Section 19(b)(2)(B) of the
• Send an email to rule-comments@ Exchange Act 5 to determine whether to
sec.gov. Please include File Number SR– approve or disapprove the proposed
MIAX–2018–26 on the subject line. rule change.6 On July 18, 2018, the
Paper Comments Commission extended the period for
consideration of the proposed rule
• Send paper comments in triplicate change to September 21, 2018.7
to Brent J. Fields, Secretary, Securities On August 22, 2018, the Division of
and Exchange Commission, 100 F Street Trading and Markets, pursuant to
NE, Washington, DC 20549–1090.
All submissions should refer to File 1 15 U.S.C. 78s(b)(1).
Number SR–MIAX–2018–26. This file 2 17 CFR 240.19b–4.
khammond on DSK30JT082PROD with NOTICES
3 See Securities Exchange Act Release No. 82484
10 15 U.S.C. 78s(b)(3)(A). (Jan. 11, 2018), 83 FR 2704 (Jan. 18, 2018).
11 17 4 See Securities Exchange Act Release No. 82759
CFR 240.19b–4(f)(6)(iii).
12 See supra note 3. (Feb. 22, 2018), 83 FR 8719 (Feb. 28, 2018).
13 For purposes only of waiving the 30-day 5 15 U.S.C. 78s(b)(2)(B).
6 See Securities Exchange Act Release No. 82995
operative delay, the Commission has also
considered the proposed rule’s impact on (Apr. 5, 2018), 83 FR 15425 (Apr. 10, 2018).
efficiency, competition, and capital formation. See 7 See Securities Exchange Act Release No. 83661
15 U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). (July 18, 2018), 83 FR 35040 (July 24, 2018).
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Document Created: 2018-10-11 15:37:27
Document Modified: 2018-10-11 15:37:27
| 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 51529 |
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