83 FR 62930 - Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5.8, Long-Term Equity Options Series (LEAPS)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 234 (December 6, 2018)
Federal Register Volume 83, Issue 234 (December 6, 2018)
| Page Range | 62930-62932 | |
| FR Document | 2018-26515 |
[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)] [Notices] [Pages 62930-62932] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-26515] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84698; File No. SR-CBOE-2018-073] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5.8, Long-Term Equity Options Series (LEAPS) November 30, 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 23, 2018, Cboe Exchange, Inc. (``Exchange'' or ``Cboe Options'') filed with the Securities and Exchange Commission (``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 Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes to amend Rule 5.8, Long-Term Equity Options Series (LEAPS). The text of the proposed rule change is provided below. (additions are italicized; deletions are [bracketed]) * * * * * Rules of Cboe Exchange, Inc. * * * * * Rule 5.8. Long-Term Equity Option Series (LEAPS) (a) Notwithstanding conflicting language in Exchange Rule 5.5, the Exchange may list long-term equity option series (LEAPS) that expire from 12 to 180 months from the time they are listed. There may be up to ten additional expiration months for [[Page 62931]] options on SPY and up to six additional expiration months for all other option classes. * * * * * The text of the proposed rule change is also available on the Exchange's website (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, 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 Exchange proposes to amend Rule 5.8, Long-Term Equity Option Series (LEAPS), to permit the listing and trading of up to ten long- term expiration months for long-term options on the SPDR[supreg] S&P 500[supreg] exchange-traded fund (``SPY'') in response to customer demand.\3\ Rule 5.8 currently provides that the Exchange may list long- term option contracts that expire from 12 to 180 months from the time they are listed (LEAPS). There may be up to six long-term expiration months per option class. The proposal will add liquidity to the SPY options market by allowing market participants to hedge risks relating to SPY positions over a longer period with a known and limited cost. --------------------------------------------------------------------------- \3\ In contrast to Rule 5.8, Rule 24.9(b)(1)(B) (which applies to index options) permits the Exchange to list long-term index options series based on either the full or reduced value of the underlying index, adding up to ten (10) expiration months. The Exchange seeks to list ten (10) long-term expiration months on SPY, just as it now may list ten (10) expiration months on long-term index option series, in order to provide investors with a wider choice of investments. --------------------------------------------------------------------------- The SPY options market today is characterized by its tremendous daily and annual liquidity. As a consequence, the Exchange believes that the listing of additional SPY long-term expiration months would be well received by investors. This proposal to expand the number of permitted SPY long-term expiration months would not apply to long-term expiration months on any other class of options.\4\ --------------------------------------------------------------------------- \4\ Historically, SPY is the largest and most actively traded ETF in the United States as measured by its assets under management and the value of shares traded. --------------------------------------------------------------------------- The Exchange proposes to implement the proposed rule change on the date of this rule filing. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\5\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \6\ requirements that the rules of an exchange be 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. 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. --------------------------------------------------------------------------- In particular, the proposed rule change offers market participants additional long-term expiration months on SPY options for their investment and risk management purposes. The proposal is intended simply to provide additional trading opportunities which have been requested by customers, thereby facilitating transactions in options and contributing to the protection of investors and the maintenance of fair and orderly markets. The proposed rule change responds to the continuing needs of market participants, particularly portfolio managers and other institutional customers, by providing protection from long-term market moves and by offering an alternative to hedging portfolios with future positions or off-exchange customized derivative instruments. Rule 5.8 has permitted up to six (6) long-term expiration months in option classes since 1991, when it increased the number of permissible expiration months from four to six.\8\ Other exchanges, such as Nasdaq PHLX LLC (``Phlx''), have similarly permitted up to six ``LEAPS'' since 1991.\9\ When the Securities and Exchange Commission (the ``Commission'') approved the increase to six expiration months, the Commission stated that it did not believe that increasing the number of expiration months to six would cause, by itself, a proliferation of expiration months. The Commission also required that the Exchange monitor the volume of additional options series listed as a result of the rule change, and the effect on the Exchange's system capacity and quotation dissemination displays.\10\ --------------------------------------------------------------------------- \8\ See Securities Exchange Act Release No. 28890 (February 15, 1991), 56 FR 7439 (February 22, 1991) (approving SR-CBOE-90-32). \9\ See Securities Exchange Act Release No. 84449 (October 18, 2018), 83 FR 53699 (October 24, 2018) (SR-Phlx-2018-64); see also Securities Exchange Act Release No. 29103 (April 18, 1991), 56 FR 19132 (April 25, 1991) (approving SR-Phlx-91-18). \10\ See Securities Exchange Act Release No. 28890 (February 15, 1991), 56 FR 7439 (February 22, 1991) (approving SR-CBOE-90-32). --------------------------------------------------------------------------- The Exchange believes that the addition today of four (4) additional long-term expiration months on SPY options likewise does not represent a proliferation of expiration months, but is instead a very modest expansion of long-term options in response to stated customer demand. Significantly, the proposal would feature new long-term expiration months in only a single class of options that are very liquid and heavily traded, as discussed above. Additionally, the Exchange notes by way of precedent, that ten (10) expiration months are already permitted for long-term index options series. Further, the Exchange has the necessary systems capacity to support the new SPY long-term expiration months. 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 Act. The proposal merely provides investors additional investment and risk management opportunities by providing flexibility to the Exchange to list additional long-term options expiration series, expanding the number of SPY long-term expiration months offered on the Exchange from six (6) long-term expiration months to ten (10) long-term expiration months. Other options exchanges currently permit the listing of [[Page 62932]] ten (10) long-term expiration months for SPY.\11\ --------------------------------------------------------------------------- \11\ See, e.g., Phlx Rule 1012(a)(i)(D); Miami International Securities Exchange, LLC (``MIAX'') Rule 406(a); and NYSE Arca, Inc. (``Arca'') Rule 6.4-O(d)(i). --------------------------------------------------------------------------- C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. 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 19(b)(3)(A) of the Act \12\ and Rule 19b- 4(f)(6) thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 17 CFR 240.19b-4(f)(6). 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, along with a brief description and text of 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 Commission has waived this requirement in this case. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \14\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\15\ the Commission may 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 upon filing. The Exchange's proposal would conform the Exchange's rules relating to the permitted number of long term expiration months for long-term options on SPY to those of other exchanges.\16\ Accordingly, the Commission believes that the proposal raises no new or novel regulatory issues, and waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. The Commission therefore waives the 30-day operative delay and designates the proposal operative upon filing.\17\ --------------------------------------------------------------------------- \14\ Id. \15\ 17 CFR 240.19b-4(f)(6)(iii). \16\ See supra note 11. \17\ 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 [email protected]. Please include File Number SR-CBOE-2018-073 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-CBOE-2018-073. 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-CBOE-2018-073, and should be submitted on or before December 27, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\18\ --------------------------------------------------------------------------- \18\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-26515 Filed 12-4-18; 8:45 am] BILLING CODE 8011-01-P
![62930 Federal Register / Vol. 83, No. 234 / Thursday, December 6, 2018 / Notices
to determine whether the proposed rule For the Commission, by the Division of compute a deduction for market risk on
should be approved or disapproved. Trading and Markets, pursuant to delegated some or all its positions instead of the
authority.18 provisions of paragraphs (c)(2)(vi) and
IV. Solicitation of Comments Eduardo A. Aleman, (c)(2)(vii) of Rule 15c3–1.4
Interested persons are invited to Assistant Secretary.
By the Commission.
submit written data, views, and [FR Doc. 2018–26512 Filed 12–4–18; 8:45 am]
arguments concerning the foregoing, Eduardo A. Aleman,
BILLING CODE 8011–01–P
including whether the proposed rule Assistant Secretary.
change is consistent with the Act. [FR Doc. 2018–26404 Filed 12–4–18; 8:45 am]
Comments may be submitted by any of SECURITIES AND EXCHANGE BILLING CODE 8011–01–P
the following methods: COMMISSION
Electronic Comments [Securities Exchange Act of 1934; Release SECURITIES AND EXCHANGE
No. 84689/November 29, 2018]
• Use the Commission’s internet COMMISSION
comment form (http://www.sec.gov/ Order Regarding Alternative Net [Release No. 34–84698; File No. SR–CBOE–
rules/sro.shtml); or Capital Computation for BofAML 2018–073]
• Send an email to rule-comments@
Securities, Inc.
sec.gov. Please include File Number SR– Self-Regulatory Organizations; Cboe
CboeEDGX–2018–057 on the subject BofAML Securities, Inc. Exchange, Inc.; Notice of Filing and
line. (‘‘BofAMLS’’), a broker-dealer registered Immediate Effectiveness of a Proposed
with the Securities and Exchange Rule Change To Amend Rule 5.8,
Paper Comments
Commission (‘‘Commission’’), has Long-Term Equity Options Series
• Send paper comments in triplicate submitted an application to the
to Secretary, Securities and Exchange (LEAPS)
Commission for authorization to use the
Commission, 100 F Street NE, market risk standards of Appendix E of November 30, 2018.
Washington, DC 20549–1090. Rule 15c3–1 to the Securities Exchange Pursuant to Section 19(b)(1) of the
All submissions should refer to File Act of 1934 (‘‘Exchange Act’’).1 Securities Exchange Act of 1934
Number SR–CboeEDGX–2018–057. This Based on a review of the application (‘‘Act’’),1 and Rule 19b–4 thereunder,2
file number should be included on the that BofAMLS submitted, including an notice is hereby given that on November
subject line if email is used. To help the assessment of the firm’s financial 23, 2018, Cboe Exchange, Inc.
Commission process and review your position, the adequacy of the firm’s (‘‘Exchange’’ or ‘‘Cboe Options’’) filed
comments more efficiently, please use internal risk management controls, and with the Securities and Exchange
only one method. The Commission will the statistical models the firm will use Commission (‘‘Commission’’) the
post all comments on the Commission’s for internal risk management and proposed rule change as described in
internet website (http://www.sec.gov/ regulatory capital purposes, the Items I and II below, which Items have
rules/sro.shtml). Copies of the Commission has determined that the been prepared by the Exchange. The
submission, all subsequent application meets the requirements of Commission is publishing this notice to
amendments, all written statements paragraphs (a), (b), (d)(1)(i)–(iv), and solicit comments on the proposed rule
with respect to the proposed rule (d)(2) of Appendix E.2 The Commission change from interested persons.
change that are filed with the also has determined that Bank of
Commission, and all written America Corporation, BofAMLS’s I. Self-Regulatory Organization’s
communications relating to the ultimate holding company, is in Statement of the Terms of Substance of
proposed rule change between the compliance with the terms of its the Proposed Rule Change
Commission and any person, other than undertakings, as provided to the Cboe Exchange, Inc. (the ‘‘Exchange’’
those that may be withheld from the Commission under Appendix E. or ‘‘Cboe Options’’) proposes to amend
public in accordance with the Using the market-risk standards of Rule 5.8, Long-Term Equity Options
provisions of 5 U.S.C. 552, will be Appendix E of Rule 15c3–1 should help Series (LEAPS). The text of the
available for website viewing and BofAMLS align its supervisory risk proposed rule change is provided
printing in the Commission’s Public management practices and regulatory below.
Reference Room, 100 F Street NE, capital requirements more closely, and (additions are italicized; deletions are
Washington, DC 20549, on official would adequately capture the material [bracketed])
business days between the hours of risks. As a result, this also should help
to ensure that integrity of the risk * * * * *
10:00 a.m. and 3:00 p.m. Copies of the Rules of Cboe Exchange, Inc.
filing also will be available for measurement, monitoring and
management process. The Commission, * * * * *
inspection and copying at the principal
office of the Exchange. All comments therefore, finds that approval of the Rule 5.8. Long-Term Equity Option
received will be posted without change. application is necessary or appropriate Series (LEAPS)
Persons submitting comments are in the public interest or for the
protection of investors. (a) Notwithstanding conflicting
cautioned that we do not redact or edit language in Exchange Rule 5.5, the
personal identifying information from Accordingly, IT IS ORDERED, under
paragraph (a)(7) of Rule 15c3–1 3 to the Exchange may list long-term equity
comment submissions. You should option series (LEAPS) that expire from
submit only information that you wish Exchange Act, that BofAMLS may
khammond on DSK30JT082PROD with NOTICES
calculate net capital using the market 12 to 180 months from the time they are
to make available publicly. All listed. There may be up to ten
submissions should refer to File risk standards of Appendix E to
additional expiration months for
Number SR–CboeEDGX–2018–057 and 1 See 17 CFR 240.15c3–1e.
should be submitted on or before 2 See 17 CFR 240.15c3–1e(a); 17 CFR 240.15c3– 4 See 17 CFR 240.15c3–1(c)(2)(vi); 17 CFR
December 27, 2018. 1e(b); 17 CFR 240.15c3–1e(d)(i)–(iv); 17 CFR 240.15c3–1(c)(2)(vii).
240.15c3–1e(d)(2). 1 15 U.S.C. 78s(b)(1).
18 17 CFR 200.30–3(a)(12). 3 See 17 CFR 240.15c3–1(a)(7). 2 17 CFR 240.19b–4.
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![62932 Federal Register / Vol. 83, No. 234 / Thursday, December 6, 2018 / Notices
ten (10) long-term expiration months for At any time within 60 days of the comment submissions. You should
SPY.11 filing of the proposed rule change, the submit only information that you wish
Commission summarily may to make available publicly. All
C. Self-Regulatory Organization’s
temporarily suspend such rule change if submissions should refer to File
Statement on Comments on the
it appears to the Commission that such Number SR–CBOE–2018–073, and
Proposed Rule Change Received From
action is necessary or appropriate in the should be submitted on or before
Members, Participants, or Others
public interest, for the protection of December 27, 2018.
The Exchange neither solicited nor investors, or otherwise in furtherance of For the Commission, by the Division of
received comments on the proposed the purposes of the Act. Trading and Markets, pursuant to delegated
rule change. authority.18
IV. Solicitation of Comments
III. Date of Effectiveness of the Eduardo A. Aleman,
Interested persons are invited to
Proposed Rule Change and Timing for Assistant Secretary.
submit written data, views, and
Commission Action [FR Doc. 2018–26515 Filed 12–4–18; 8:45 am]
arguments concerning the foregoing,
Because the foregoing proposed rule including whether the proposed rule BILLING CODE 8011–01–P
change does not: (i) Significantly affect change is consistent with the Act.
the protection of investors or the public Comments may be submitted by any of
interest; (ii) impose any significant SECURITIES AND EXCHANGE
the following methods:
burden on competition; and (iii) become COMMISSION
operative for 30 days from the date on Electronic Comments [Investment Company Act Release No.
which it was filed, or such shorter time • Use the Commission’s internet 33310]
as the Commission may designate, it has comment form (http://www.sec.gov/
become effective pursuant to Section rules/sro.shtml); or Notice of Applications for
19(b)(3)(A) of the Act 12 and Rule 19b– • Send an email to rule-comments@ Deregistration Under Section 8(f) of the
4(f)(6) thereunder.13 sec.gov. Please include File Number SR– Investment Company Act of 1940
A proposed rule change filed under CBOE–2018–073 on the subject line.
November 30, 2018.
Rule 19b–4(f)(6) 14 normally does not
Paper Comments The following is a notice of
become operative prior to 30 days after
• Send paper comments in triplicate applications for deregistration under
the date of the filing. However, pursuant
to Secretary, Securities and Exchange section 8(f) of the Investment Company
to Rule 19b–4(f)(6)(iii),15 the
Commission, 100 F Street NE, Act of 1940 for the month of November
Commission may designate a shorter
Washington, DC 20549–1090. 2018. A copy of each application may be
time if such action is consistent with the
All submissions should refer to File obtained via the Commission’s website
protection of investors and the public
Number SR–CBOE–2018–073. This file by searching for the file number, or for
interest. The Exchange has asked the
number should be included on the an applicant using the Company name
Commission to waive the 30-day
subject line if email is used. To help the box, at http://www.sec.gov/search/
operative delay so that the proposal may
Commission process and review your search.htm or by calling (202) 551–
become operative upon filing. The
comments more efficiently, please use 8090. An order granting each
Exchange’s proposal would conform the
only one method. The Commission will application will be issued unless the
Exchange’s rules relating to the
post all comments on the Commission’s SEC orders a hearing. Interested persons
permitted number of long term
internet website (http://www.sec.gov/ may request a hearing on any
expiration months for long-term options
rules/sro.shtml). Copies of the application by writing to the SEC’s
on SPY to those of other exchanges.16
submission, all subsequent Secretary at the address below and
Accordingly, the Commission believes
amendments, all written statements serving the relevant applicant with a
that the proposal raises no new or novel
with respect to the proposed rule copy of the request, personally or by
regulatory issues, and waiver of the 30-
change that are filed with the mail. Hearing requests should be
day operative delay is consistent with
Commission, and all written received by the SEC by 5:30 p.m. on
the protection of investors and the
communications relating to the December 26, 2018, and should be
public interest. The Commission
proposed rule change between the accompanied by proof of service on
therefore waives the 30-day operative
Commission and any person, other than applicants, in the form of an affidavit or,
delay and designates the proposal
those that may be withheld from the for lawyers, a certificate of service.
operative upon filing.17
public in accordance with the Pursuant to Rule 0–5 under the Act,
11 See, e.g., Phlx Rule 1012(a)(i)(D); Miami
provisions of 5 U.S.C. 552, will be hearing requests should state the nature
International Securities Exchange, LLC (‘‘MIAX’’) available for website viewing and of the writer’s interest, any facts bearing
Rule 406(a); and NYSE Arca, Inc. (‘‘Arca’’) Rule
printing in the Commission’s Public upon the desirability of a hearing on the
6.4–O(d)(i). matter, the reason for the request, and
12 15 U.S.C. 78s(b)(3)(A). Reference Room, 100 F Street NE,
13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– Washington, DC 20549 on official the issues contested. Persons who wish
4(f)(6)(iii) requires a self-regulatory organization to business days between the hours of to be notified of a hearing may request
give the Commission written notice of its intent to 10:00 a.m. and 3:00 p.m. Copies of the notification by writing to the
file the proposed rule change, along with a brief
filing also will be available for Commission’s Secretary.
description and text of the proposed rule change, ADDRESSES: The Commission: Secretary,
at least five business days prior to the date of filing inspection and copying at the principal
U.S. Securities and Exchange
khammond on DSK30JT082PROD with NOTICES
of the proposed rule change, or such shorter time office of the Exchange. All comments
as designated by the Commission. The Commission received will be posted without change. Commission, 100 F Street NE,
has waived this requirement in this case.
Persons submitting comments are Washington, DC 20549–1090.
14 Id.
15 17 CFR 240.19b–4(f)(6)(iii). cautioned that we do not redact or edit FOR FURTHER INFORMATION CONTACT:
16 See supra note 11. personal identifying information from Shawn Davis, Branch Chief, at (202)
17 For purposes only of waiving the 30-day 551–6413 or Chief Counsel’s Office at
operative delay, the Commission has also efficiency, competition, and capital formation. See
considered the proposed rule’s impact on 15 U.S.C. 78c(f). 18 17 CFR 200.30–3(a)(12).
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Document Created: 2018-12-05 02:36:18
Document Modified: 2018-12-05 02:36:18
| 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 62930 |
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