83 FR 60545 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Nasdaq Rule 5615(b)(4) To Change the Threshold for Qualifying as a Smaller Reporting Company To Qualify for Certain Exemptions From the Compensation Committee Requirements
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 227 (November 26, 2018)
Federal Register Volume 83, Issue 227 (November 26, 2018)
| Page Range | 60545-60547 | |
| FR Document | 2018-25731 |
[Federal Register Volume 83, Number 227 (Monday, November 26, 2018)] [Notices] [Pages 60545-60547] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-25731] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84629; File No. SR-NASDAQ-2018-095] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Nasdaq Rule 5615(b)(4) To Change the Threshold for Qualifying as a Smaller Reporting Company To Qualify for Certain Exemptions From the Compensation Committee Requirements November 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 November 14, 2018, The Nasdaq Stock Market LLC (``Nasdaq'' or the ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the 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 proposes to amend Nasdaq Rule 5615(b)(4) to change the threshold for listed companies that are eligible to benefit from the exemptions from the Exchange's compensation committee requirements applicable to smaller reporting companies so that all companies that qualify for smaller reporting company status under the revised SEC definition will qualify for the Exchange's exemptions. The text of the proposed rule change is available on the Exchange's website at http://nasdaq.cchwallstreet.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 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 purpose of the proposed rule change is to amend Rule 5615(b)(4) to change the threshold for listed companies that are eligible to benefit from the exemptions from the Exchange's compensation committee requirements applicable to smaller reporting companies so that all companies that qualify for smaller reporting company status under the revised SEC definition will qualify for the Exchange's exemptions. The SEC recently adopted \3\ amendments to the definition of ``smaller reporting company'' set forth in Item 10(f)(1) of Regulation S-K,\4\ Rule 12b-2 under the Act \5\ and Rule 405 under the Securities Act of 1933.\6\ The amendments raise the smaller reporting company cap from less than $75 million in public float to less than $250 million and also include as smaller reporting companies issuers with less than $100 million in annual revenues if they also have either no public float or a public float that is less than $700 million. The amendments became effective on September 10, 2018. As a result of the SEC rule changes, an expanded number of registrants, and hence, of listed companies, will qualify for smaller reporting company status than was previously the case.\7\ --------------------------------------------------------------------------- \3\ See Release Nos. 33-10513 and 34-83550 (June 28, 2018); 83 FR 31992 (July 10, 2018) (the ``Adopting Release''). \4\ 17 CFR 229.10(f)(1). \5\ 17 CFR 240.12b-2. \6\ 17 CFR 230.405. \7\ See the Adopting Release. --------------------------------------------------------------------------- Smaller reporting companies are entitled to avail themselves of certain exemptions from Nasdaq's compensation committee requirements.\8\ [[Page 60546]] Rule 5615(b)(4) includes a provision describing the period within which a company must comply with all applicable compensation committee requirements after it ceases to be a smaller reporting company.\9\ This provision currently states explicitly that a smaller reporting company must have less than $75 million in public float. In light of the recent changes to the SEC's rules with respect to smaller reporting companies, the Exchange proposes to delete this reference to the $75 million public float cap and revise the provision to state simply that a smaller reporting company that fails to meet the requirements for smaller reporting company status as of the last business day of its second fiscal quarter (the Determination Date) will cease to be a smaller reporting company as of the beginning of the following fiscal year. The effect of the proposed rule change is to change the threshold for listed companies that are eligible to benefit from the exemptions from the Exchange's compensation committee requirements applicable to smaller reporting companies so that all companies that qualify for smaller reporting company status under the revised SEC definition will qualify for the Exchange's exemptions. --------------------------------------------------------------------------- \8\ Specifically, pursuant to Rule 5605(d)(5), a listed company that satisfies the definition of smaller reporting company is not required to comply with: (i) The additional requirements with respect to the independence of compensation committee members set forth in Rule 5605(d)(2)(A); (ii) the requirements with respect to the specific compensation committee responsibilities and authority set forth in Rule 5605(d)(3) and the requirement to include such responsibilities and authority in its compensation committee charter as set forth in Rule 5605(d)(1)(D); or (iii) the requirement with respect to the compensation committee's responsibility to review and reassess the adequacy of its compensation committee charter on an annual basis. A listed smaller reporting company must comply with all other applicable Exchange corporate governance requirements, including all other applicable compensation committee requirements, unless it qualifies for another exemption from those requirements. \9\ Under the SEC rules set forth above with respect to smaller reporting companies, a company tests its status as a smaller reporting company on an annual basis at the end of its most recently completed second fiscal quarter (``Determination Date''). A smaller reporting company ceases to be a smaller reporting company as of the beginning of the fiscal year following the Determination Date (``Start Date''). By six months from the Start Date, a company must comply with Rule 5605(d)(3) and certify to Nasdaq that: (i) It has complied with the requirement in Rule 5605(d)(1) to adopt a formal written compensation committee charter including the content specified in Rule 5605(d)(1)(A)- (D); and (ii) it has complied, or within the applicable phase-in schedule will comply, with the additional requirements in Rule 5605(d)(2)(A) regarding compensation committee composition. A company shall be permitted to phase in its compliance with the additional compensation committee eligibility requirements of Rule 5605(d)(2)(A) relating to compensatory fees and affiliation as follows: (i) One member must satisfy the requirements by six months from the Start Date; (ii) a majority of members must satisfy the requirements by nine months from the Start Date; and (iii) all members must satisfy the requirements by one year from the Start Date. --------------------------------------------------------------------------- 2. Statutory Basis Nasdaq believes that the proposed rule change is consistent with Section 6(b) of the Act,\10\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\11\ 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 regulating, clearing, settling, processing information with respect to, and 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. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- As noted above, the effect of the proposed rule change is to change the threshold for listed companies that are eligible to benefit from the exemptions from the Exchange's compensation committee requirements applicable to smaller reporting companies so that all companies that qualify for smaller reporting company status under the revised SEC definition will qualify for the Exchange's exemptions. A listed smaller reporting company must comply with all other applicable Exchange corporate governance requirements, including all other applicable compensation committee requirements, unless it qualifies for some other exemption from those requirements. The Commission has already determined through its own rulemaking that the revised thresholds for smaller reporting company status proposed in this rule proposal are consistent with the goal of the Act to further the protection of investors and the public interest \12\ and the Exchange believes that its own proposal is consistent with Section 6(b)(5) of the Act for the same reasons. The Exchange also believes that the proposed rule change fosters cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities because it conforms Rule 5615(b)(4) to a rule change made by the Commission. --------------------------------------------------------------------------- \12\ See supra note 3. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition Nasdaq does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change will not impose any burden on competition as its sole purpose is to change the threshold for listed companies that are eligible to benefit from the exemptions from the Exchange's compensation committee requirements applicable to smaller reporting companies so that all companies that qualify for smaller reporting company status under the revised SEC definition will qualify for the Exchange's exemptions. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. 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) of the Act \13\ and Rule 19b-4(f)(6) thereunder.\14\ 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 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 19(b)(3)(A) of the Act and Rule 19b-4(f)(6)(iii) thereunder. \15\ --------------------------------------------------------------------------- \13\ 15 U.S.C. 78s(b)(3)(A)(iii). \14\ 17 CFR 240.19b-4(f)(6). \15\ In addition, Rule 19b-4(f)(6)(iii) requires a self- regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6)\16\ normally does not become operative for 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\17\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. In its filing with the Commission, Nasdaq has asked the Commission to waive the 30-day operative delay to make Nasdaq Rule 5615(b)(4) consistent with the Commission's revised definition of smaller reporting company that became effective on September 10, 2018. As such, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest and designates the proposed rule change operative upon filing.\18\ --------------------------------------------------------------------------- \16\ 17 CFR 240.19b-4(f)(6). \17\ 17 CFR 240.19b-4(f)(6)(iii). \18\ For purposes only of waiving the operative delay, the Commission has 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 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 [[Page 60547]] 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) \19\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \19\ 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 CommentsUse 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-NASDAQ-2018-095 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-NASDAQ-2018-095. 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 such 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-NASDAQ-2018-095, and should be submitted on or before December 17, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\20\ --------------------------------------------------------------------------- \20\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-25731 Filed 11-23-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 227 / Monday, November 26, 2018 / Notices 60545
Paper Comments SECURITIES AND EXCHANGE forth in sections A, B, and C below, of
COMMISSION the most significant aspects of such
• Send paper comments in triplicate statements.
to Secretary, Securities and Exchange [Release No. 34–84629; File No. SR–
Commission, 100 F Street NE, NASDAQ–2018–095] A. Self-Regulatory Organization’s
Washington, DC 20549. Statement of the Purpose of, and
Self-Regulatory Organizations; The Statutory Basis for, the Proposed Rule
All submissions should refer to File Nasdaq Stock Market LLC; Notice of Change
Number SR–OCC–2018–804. This file Filing and Immediate Effectiveness of
Proposed Rule Change to Nasdaq Rule 1. Purpose
number should be included on the
subject line if email is used. To help the 5615(b)(4) To Change the Threshold for The purpose of the proposed rule
Commission process and review your Qualifying as a Smaller Reporting change is to amend Rule 5615(b)(4) to
comments more efficiently, please use Company To Qualify for Certain change the threshold for listed
only one method. The Commission will Exemptions From the Compensation companies that are eligible to benefit
Committee Requirements from the exemptions from the
post all comments on the Commission’s
Exchange’s compensation committee
internet website (http://www.sec.gov/ November 20, 2018. requirements applicable to smaller
rules/sro.shtml). Copies of the Pursuant to Section 19(b)(1) of the reporting companies so that all
submission, all subsequent Securities Exchange Act of 1934 companies that qualify for smaller
amendments, all written statements (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 reporting company status under the
with respect to the advance notice that notice is hereby given that on November revised SEC definition will qualify for
are filed with the Commission, and all 14, 2018, The Nasdaq Stock Market LLC the Exchange’s exemptions.
written communications relating to the (‘‘Nasdaq’’ or the ‘‘Exchange’’) filed with The SEC recently adopted 3
advance notice between the the Securities and Exchange amendments to the definition of
Commission and any person, other than Commission (‘‘SEC’’ or ‘‘Commission’’) ‘‘smaller reporting company’’ set forth
those that may be withheld from the the proposed rule change as described in Item 10(f)(1) of Regulation S–K,4 Rule
public in accordance with the in Items I and II below, which Items 12b–2 under the Act 5 and Rule 405
provisions of 5 U.S.C. 552, will be have been prepared by the Exchange. under the Securities Act of 1933.6 The
available for website viewing and The Commission is publishing this amendments raise the smaller reporting
printing in the Commission’s Public notice to solicit comments on the company cap from less than $75 million
Reference Room, 100 F Street NE, proposed rule change from interested in public float to less than $250 million
persons. and also include as smaller reporting
Washington, DC 20549 on official
business days between the hours of 10 I. Self-Regulatory Organization’s companies issuers with less than $100
a.m. and 3 p.m. Copies of the filing also Statement of the Terms of Substance of million in annual revenues if they also
the Proposed Rule Change have either no public float or a public
will be available for inspection and
float that is less than $700 million. The
copying at the principal office of the The Exchange proposes to amend amendments became effective on
self-regulatory organization. Nasdaq Rule 5615(b)(4) to change the September 10, 2018. As a result of the
All comments received will be posted threshold for listed companies that are SEC rule changes, an expanded number
without change. Persons submitting eligible to benefit from the exemptions of registrants, and hence, of listed
comments are cautioned that we do not from the Exchange’s compensation companies, will qualify for smaller
redact or edit personal identifying committee requirements applicable to reporting company status than was
information from comment submissions. smaller reporting companies so that all previously the case.7
You should submit only information companies that qualify for smaller Smaller reporting companies are
that you wish to make available reporting company status under the entitled to avail themselves of certain
revised SEC definition will qualify for exemptions from Nasdaq’s
publicly.
the Exchange’s exemptions. compensation committee requirements.8
All submissions should refer to File The text of the proposed rule change
Number SR–OCC–2018–804 and should is available on the Exchange’s website at 3 See Release Nos. 33–10513 and 34–83550 (June
be submitted on or before December 17, http://nasdaq.cchwallstreet.com, at the 28, 2018); 83 FR 31992 (July 10, 2018) (the
2018. principal office of the Exchange, and at ‘‘Adopting Release’’).
4 17 CFR 229.10(f)(1).
By the Commission. the Commission’s Public Reference 5 17 CFR 240.12b–2.
Room. 6 17 CFR 230.405.
Brent J. Fields,
Secretary. II. Self-Regulatory Organization’s 7 See the Adopting Release.
8 Specifically, pursuant to Rule 5605(d)(5), a
[FR Doc. 2018–25606 Filed 11–23–18; 8:45 am] Statement of the Purpose of, and
listed company that satisfies the definition of
Statutory Basis for, the Proposed Rule smaller reporting company is not required to
BILLING CODE 8011–01–P
Change comply with: (i) The additional requirements with
respect to the independence of compensation
In its filing with the Commission, the committee members set forth in Rule 5605(d)(2)(A);
Exchange included statements (ii) the requirements with respect to the specific
concerning the purpose of and basis for compensation committee responsibilities and
the proposed rule change and discussed authority set forth in Rule 5605(d)(3) and the
requirement to include such responsibilities and
any comments it received on the authority in its compensation committee charter as
proposed rule change. The text of these set forth in Rule 5605(d)(1)(D); or (iii) the
statements may be examined at the requirement with respect to the compensation
places specified in Item IV below. The committee’s responsibility to review and reassess
the adequacy of its compensation committee charter
Exchange has prepared summaries, set on an annual basis. A listed smaller reporting
company must comply with all other applicable
1 15 U.S.C. 78s(b)(1). Exchange corporate governance requirements,
2 17 CFR 240.19b–4. Continued
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![Federal Register / Vol. 83, No. 227 / Monday, November 26, 2018 / Notices 60547
public interest, for the protection of submit only information that you wish II. Self-Regulatory Organization’s
investors, or otherwise in furtherance of to make available publicly. All Statement of the Purpose of, and
the purposes of the Act. If the submissions should refer to File Statutory Basis for, the Proposed Rule
Commission takes such action, the Number SR–NASDAQ–2018–095, and Change
Commission shall institute proceedings should be submitted on or before In its filing with the Commission, the
under Section 19(b)(2)(B) 19 of the Act to December 17, 2018. Exchange included statements
determine whether the proposed rule concerning the purpose of and basis for
For the Commission, by the Division of
change should be approved or the proposed rule change and discussed
Trading and Markets, pursuant to delegated
disapproved. any comments it received on the
authority.20
IV. Solicitation of Comments Eduardo A. Aleman, proposed rule change. The text of these
statements may be examined at the
Interested persons are invited to Assistant Secretary.
places specified in Item IV below. The
submit written data, views, and [FR Doc. 2018–25731 Filed 11–23–18; 8:45 am] Exchange has prepared summaries, set
arguments concerning the foregoing, BILLING CODE 8011–01–P forth in sections A, B, and C below, of
including whether the proposed rule
the most significant aspects of such
change is consistent with the Act.
statements.
Comments may be submitted by any of SECURITIES AND EXCHANGE
the following methods: COMMISSION A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Electronic Comments
Statutory Basis for, the Proposed Rule
• Use the Commission’s internet [Release No. 34–84624; File No. SR–Phlx– Change
comment form (http://www.sec.gov/ 2018–72]
rules/sro.shtml); or 1. Purpose
• Send an email to rule-comments@ Self-Regulatory Organizations; Nasdaq The Exchange proposes to amend
sec.gov. Please include File Number SR– PHLX LLC; Notice of Filing of Phlx Rule 1037, which is currently
NASDAQ–2018–095 on the subject line. Proposed Rule Change To Establish reserved, to establish requirements
Rules Governing the Give Up of a related to the give up of a Clearing
Paper Comments Clearing Member by a Member Member by a member organization on
• Send paper comments in triplicate Organization on Exchange Exchange transactions.
to Secretary, Securities and Exchange Transactions By way of background, to enter
Commission, 100 F Street NE, transactions on the Exchange, a member
Washington, DC 20549–1090. November 19, 2018. organization must either be a Clearing
All submissions should refer to File Pursuant to Section 19(b)(1) of the Member or have a clearing arrangement
Number SR–NASDAQ–2018–095. This Securities Exchange Act of 1934 with a Clearing Member.4 Rule 1052
file number should be included on the (‘‘Act’’),1 and Rule 19b–4 thereunder,2 currently provides that every Clearing
subject line if email is used. To help the notice is hereby given that on November Member shall be responsible for the
Commission process and review your 6, 2018, Nasdaq PHLX LLC (‘‘Phlx’’ or clearance of the Exchange options
comments more efficiently, please use ‘‘Exchange’’) filed with the Securities transactions of such Clearing Member
only one method. The Commission will and Exchange Commission (‘‘SEC’’ or and of each member organization who
post all comments on the Commission’s ‘‘Commission’’) the proposed rule gives up the name of such Clearing
internet website (http://www.sec.gov/ change as described in Items I, II, and Member in an Exchange options
rules/sro.shtml). Copies of the III, below, which Items have been transaction, provided the Clearing
submission, all subsequent prepared by the Exchange. The Member has authorized such member
amendments, all written statements Commission is publishing this notice to organization to give up its name with
with respect to the proposed rule solicit comments on the proposed rule respect to Exchange options
change that are filed with the change from interested persons. transactions.
Commission, and all written Recently, certain Clearing Members,
communications relating to the I. Self-Regulatory Organization’s in conjunction with the Securities
proposed rule change between the Statement of the Terms of Substance of Industry and Financial Markets
Commission and any person, other than the Proposed Rule Change Association (‘‘SIFMA’’), expressed
those that may be withheld from the concerns related to the process by
public in accordance with the The Exchange proposes to establish which executing brokers on U.S. options
provisions of 5 U.S.C. 552, will be rules governing the give up of a Clearing exchanges (‘‘Exchanges’’) are allowed to
available for website viewing and Member 3 by a member organization on designate or ‘give up’ a clearing firm for
printing in the Commission’s Public Exchange transactions. purposes of clearing particular
Reference Room, 100 F Street NE, The text of the proposed rule change transactions. The SIFMA-affiliated
Washington, DC 20549 on official is available on the Exchange’s website at Clearing Members have recently
business days between the hours of http://nasdaqphlx.cchwallstreet.com/, identified the current give up process as
10:00 a.m. and 3:00 p.m. Copies of such at the principal office of the Exchange, a significant source of risk for clearing
filing also will be available for and at the Commission’s Public firms, and subsequently requested that
inspection and copying at the principal Reference Room. the Exchanges alleviate this risk by
office of the Exchange. All comments amending Exchange rules governing the
received will be posted without change. 20 17 CFR 200.30–3(a)(12). give up process.5
Persons submitting comments are 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4. 4 See Rule 1046.
cautioned that we do not redact or edit
3 Clearing Member means a member organization 5 NYSE Arca Inc. (‘‘Arca’’) recently filed to amend
personal identifying information from
which has been admitted to membership in the its give up procedures. Arca’s proposal would allow
comment submissions. You should Options Clearing Corporation pursuant to the a Designated Give Up to opt out of acting as the give
provisions of the rules of the Options Clearing up for certain OTP Holders and OTP Firms. See
19 15 U.S.C. 78s(b)(2)(B). Corporation. See Rule 1000(b)(3). Continued
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Document Created: 2018-11-24 00:51:20
Document Modified: 2018-11-24 00:51:20
| 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 60545 |
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