Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan for the Purpose of Developing and Implementing Procedures Designed To Facilitate the Listing and Trading of Standardized Options To Add Miami International Securities Exchange, LLC (“MIAX”) as a Plan Sponsor, 65733-65734 [2013-26074]
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emcdonald on DSK67QTVN1PROD with NOTICES
Federal Register / Vol. 78, No. 212 / Friday, November 1, 2013 / Notices
declined to participate in, comply with
the conditions of the Amended Order.
In addition, the Independent Directors
will consider at least annually the
continued appropriateness for the
Regulated Entities of participating in
new and existing Co-Investment
Transactions.
10. Each Regulated Entity will
maintain the records required by section
57(f)(3) as if each of the Regulated
Entities were a BDC and each of the
investments permitted under these
conditions were approved by the
Required Majority under section 57(f).
11. No Independent Director of a
Regulated Entity will also be a director,
general partner, managing member or
principal, or otherwise an ‘‘affiliated
person’’ (as defined in the Act) of, any
of the Affiliated Funds.
12. The expenses, if any, associated
with acquiring, holding or disposing of
any securities acquired in a CoInvestment Transaction (including,
without limitation, the expenses of the
distribution of any such securities
registered for sale under the 1933 Act)
shall, to the extent not payable by the
Regulated Entity Advisers or the
Affiliated Investment Advisers under
their respective investment advisory
agreements with the Regulated Entities
and the Participating Funds, be shared
by the applicable Regulated Entities and
the Participating Funds in proportion to
the relative amounts of their securities
held or being acquired or disposed of,
as the case may be.
13. Any transaction fee (including
break-up or commitment fees but
excluding brokers’ fees contemplated by
section 57(k)(2) or 17(e)(2), as
applicable) received in connection with
a Co-Investment Transaction will be
distributed to the applicable Regulated
Entities and the Participating Funds on
a pro rata basis based on the amounts
each invested or committed, as the case
may be, in such Co-Investment
Transaction. If any transaction fee is to
be held by a Regulated Entity Adviser or
an Affiliated Investment Adviser
pending consummation of the
transaction, the fee will be deposited
into an account maintained by the
Regulated Entity Adviser or such other
adviser, as the case may be, at a bank
or banks having the qualifications
prescribed in section 26(a)(1), and the
account will earn a competitive rate of
interest that will also be divided pro
rata among each applicable Regulated
Entity and each Participating Fund
based on the amount each invests in
such Co-Investment Transaction. None
of the Affiliated Funds, Regulated Entity
Advisers, Affiliated Investment
Advisers, or any affiliated person of any
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17:40 Oct 31, 2013
Jkt 232001
of the Regulated Entities will receive
additional compensation or
remuneration of any kind (other than (a)
in the case of the Regulated Entities and
the Participating Funds, the pro rata
transaction fees described above and
fees or other compensation described in
condition 2(c)(iii)(C) and (b) in the case
of the Regulated Entity Advisers and the
Affiliated Advisers, investment advisory
fees paid in accordance with the
Regulated Entities’ and Affiliated
Funds’ governing agreements) as a result
of or in connection with a CoInvestment Transaction.
14. If the Regulated Entity Advisers,
the Principals, any person controlling,
controlled by, or under common control
with the Regulated Entity Advisers or
the Principals, and the Affiliated Funds
(collectively, the ‘‘Holders’’) own in the
aggregate more than 25% of the
outstanding voting securities of a
Regulated Entity (‘‘Shares’’), then the
Holders will vote such Shares as
directed by an independent third party
(such as the trustee of a voting trust or
a proxy adviser) when voting on (1) the
election of directors; (2) the removal of
one or more directors; or (3) any matters
requiring approval by the vote of a
majority of the outstanding voting
securities, as defined in section 2(a)(42).
15. The Regulated Entity Advisers and
the Affiliated Investment Advisers will
maintain written policies and
procedures reasonably designed to
ensure compliance with the foregoing
conditions. These policies and
procedures will require, among other
things, that each Regulated Entity
Adviser will be notified of all Potential
Co-Investment Transactions that fall
within the then-current Objectives and
Strategies of any Regulated Entity it
advises and will be given sufficient
information to make its independent
determination and recommendations
under conditions 1, 2(a), 7 and 8.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–26038 Filed 10–31–13; 8:45 am]
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65733
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70764; File No. 4–443]
Joint Industry Plan; Notice of Filing
and Immediate Effectiveness of
Amendment to the Plan for the
Purpose of Developing and
Implementing Procedures Designed To
Facilitate the Listing and Trading of
Standardized Options To Add Miami
International Securities Exchange, LLC
(‘‘MIAX’’) as a Plan Sponsor
October 28, 2013.
Pursuant to Section 11A(a)(3) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 608 thereunder,2
notice is hereby given that on December
6, 2012, Miami International Securities
Exchange, LLC (‘‘MIAX’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) an
amendment to the Plan for the Purpose
of Developing and Implementing
Procedures Designed to Facilitate the
Listing and Trading of Standardized
Options (‘‘OLPP’’).3 The amendment
proposes to add MIAX as a Sponsor of
the OLPP. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Description and Purpose of the
Amendment
The current Sponsors of the OLPP are
BATS, BOX, BX, CBOE, C2, ISE,
Nasdaq, NYSE Amex, NYSE Arca, OCC,
and Phlx. The proposed amendment to
the OLPP would add MIAX as a Sponsor
of the OLPP. A national securities
1 15
U.S.C. 78k–1(a)(3).
CFR 242.608.
3 On July 6, 2001, the Commission approved the
OLPP, which was proposed by the American Stock
Exchange LLC (‘‘Amex’’), Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’), International
Securities Exchange LLC (‘‘ISE’’), Options Clearing
Corporation (‘‘OCC’’), Philadelphia Stock Exchange,
Inc. (‘‘Phlx’’), and Pacific Exchange, Inc. (‘‘PCX’’)
(n/k/a NYSE Arca). See Securities Exchange Act
Release No. 44521, 66 FR 36809 (July 13, 2001). On
February 5, 2004, Boston Stock Exchange, Inc.
(‘‘BSE’’) was added as a Sponsor to OLPP. See
Securities Exchange Act Release No. 49199, 69 FR
7030 (February 12, 2004). On March 21, 2008, the
Nasdaq Stock Market, LLC (‘‘Nasdaq’’) was added
as a Sponsor to the OLPP. See Securities Exchange
Act Release No. 57546, 73 FR 16393 (March 27,
2008). On February 17, 2010, BATS Exchange, Inc.
(‘‘BATS’’) was added as a Sponsor to the OLPP. See
Securities Exchange Act Release No. 61528, 75 FR
8415 (February 24, 2010). On October 22, 2010, C2
Options Exchange Incorporated (‘‘C2’’) was added
as a Sponsor to the OLPP. See Securities Exchange
Act Release No. 63162, 75 FR 66401 (October 28,
2010). On May 9, 2012, BOX Options Exchange LLC
(‘‘BOX’’) was added as a Sponsor to the OLPP. See
Securities Exchange Act Release No. 66952, 77 FR
28641 (May 15, 2012). On June 29, 2012, Nasdaq
OMX BX, Inc. was added as a Sponsor to the OLPP.
See Securities Exchange Act Release No. 67327, 77
FR 40125 (July 6, 2012) (‘‘BX’’).
2 17
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Federal Register / Vol. 78, No. 212 / Friday, November 1, 2013 / Notices
exchange may become a Sponsor if it
satisfies the requirement of Section 7 of
the OLPP. Specifically an Eligible
Exchange 4 may become a Sponsor of
the OLPP by: (i) Executing a copy of the
OLPP, as then in effect; (ii) providing
each current Plan Sponsor with a copy
of such executed Plan; and (iii) effecting
an amendment to the OLPP, as specified
in Section 7(ii) of the OLPP.
Section 7(ii) of the OLPP sets forth the
process by which an Eligible Exchange
may effect an amendment to the OLPP.
Specifically, an Eligible Exchange must:
(a) Execute a copy of the OLPP with the
only change being the addition of the
new sponsor’s name in Section 8 of the
OLPP; 5 and (b) submit the executed
OLPP to the Commission. The OLPP
then provides that such an amendment
will be effective at the later of either the
amendment being approved by the
Commission or otherwise becoming
effective pursuant to Section 11A of the
Act. MIAX has submitted a signed copy
of the OLPP to the Commission and to
each Plan Sponsor in accordance with
the procedures set forth in the OLPP
regarding new Plan Sponsors.
II. Effectiveness of the Proposed
Linkage Plan Amendment
The foregoing proposed OLPP
amendment has become effective
pursuant to Rule 608(b)(3)(iii) 6 because
it involves solely technical or
ministerial matters. At any time within
sixty days of the filing of this
amendment, the Commission may
summarily abrogate the amendment and
require that it be refiled pursuant to
paragraphs (a)(1) of Rule 608,7 if it
appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors or the maintenance of fair and
orderly markets, to remove impediments
to, and perfect the mechanisms of, a
national market system or otherwise in
furtherance of the purposes of the Act.
emcdonald on DSK67QTVN1PROD with NOTICES
III. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
4 The OLPP defines an ‘‘Eligible Exchange’’ as a
national securities exchange registered with the
Commission pursuant to Section 6(a) of the
Exchange Act, 15 U.S.C. 78f(a), that (1) has effective
rules for the trading of options contracts issued and
cleared by the OCC approved in accordance with
the provisions of the Exchange Act and the rules
and regulations thereunder and (2) is a party to the
Plan for Reporting Consolidated Options Last Sale
Reports and Quotation Information (the ‘‘OPRA
Plan’’). MIAX has represented that it has met both
the requirements for being considered an Eligible
Exchange.
5 The Commission notes that the list of plan
sponsors is set forth in Section 9 of the OLPP.
6 17 CFR 242.608(b)(3)(iii).
7 17 CFR 242.608(a)(1).
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arguments concerning the foregoing,
including whether the proposed
amendment is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number 4–
443 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street NE., Washington, DC
20549–1090.
All submissions should refer to File
Number 4–443. 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
Web site (https://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 Web site 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 MIAX’s
principal office. All comments received
will be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File No. 4–443 and
should be submitted on or before
November 22, 2013.
By the Commission.
Kevin M. O’Neill,
Deputy Secretary.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70761; File No. SR–Topaz–
2013–09]
Self-Regulatory Organizations; Topaz
Exchange LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the Schedule
of Fees
October 28, 2013.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
22, 2013, the Topaz Exchange, LLC (d/
b/a ISE Gemini) (the ‘‘Exchange’’ or
‘‘Topaz’’) filed with the Securities and
Exchange Commission the proposed
rule change, as described in Items I, II,
and III below, which items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Topaz is proposing to amend its
Schedule of Fees to adopt a continuing
education fee for Series 56 registered
persons. The text of the proposed rule
change is available on the Exchange’s
Internet Web site at https://www.ise.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
self-regulatory organization 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 the Schedule of Fees
to adopt a fee for a new continuing
[FR Doc. 2013–26074 Filed 10–31–13; 8:45 am]
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
01NON1
]]>Agencies
[Federal Register Volume 78, Number 212 (Friday, November 1, 2013)]
[Notices]
[Pages 65733-65734]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-26074]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-70764; File No. 4-443]
Joint Industry Plan; Notice of Filing and Immediate Effectiveness
of Amendment to the Plan for the Purpose of Developing and Implementing
Procedures Designed To Facilitate the Listing and Trading of
Standardized Options To Add Miami International Securities Exchange,
LLC (``MIAX'') as a Plan Sponsor
October 28, 2013.
Pursuant to Section 11A(a)(3) of the Securities Exchange Act of
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given
that on December 6, 2012, Miami International Securities Exchange, LLC
(``MIAX'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') an amendment to the Plan for the Purpose of
Developing and Implementing Procedures Designed to Facilitate the
Listing and Trading of Standardized Options (``OLPP'').\3\ The
amendment proposes to add MIAX as a Sponsor of the OLPP. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78k-1(a)(3).
\2\ 17 CFR 242.608.
\3\ On July 6, 2001, the Commission approved the OLPP, which was
proposed by the American Stock Exchange LLC (``Amex''), Chicago
Board Options Exchange, Incorporated (``CBOE''), International
Securities Exchange LLC (``ISE''), Options Clearing Corporation
(``OCC''), Philadelphia Stock Exchange, Inc. (``Phlx''), and Pacific
Exchange, Inc. (``PCX'') (n/k/a NYSE Arca). See Securities Exchange
Act Release No. 44521, 66 FR 36809 (July 13, 2001). On February 5,
2004, Boston Stock Exchange, Inc. (``BSE'') was added as a Sponsor
to OLPP. See Securities Exchange Act Release No. 49199, 69 FR 7030
(February 12, 2004). On March 21, 2008, the Nasdaq Stock Market, LLC
(``Nasdaq'') was added as a Sponsor to the OLPP. See Securities
Exchange Act Release No. 57546, 73 FR 16393 (March 27, 2008). On
February 17, 2010, BATS Exchange, Inc. (``BATS'') was added as a
Sponsor to the OLPP. See Securities Exchange Act Release No. 61528,
75 FR 8415 (February 24, 2010). On October 22, 2010, C2 Options
Exchange Incorporated (``C2'') was added as a Sponsor to the OLPP.
See Securities Exchange Act Release No. 63162, 75 FR 66401 (October
28, 2010). On May 9, 2012, BOX Options Exchange LLC (``BOX'') was
added as a Sponsor to the OLPP. See Securities Exchange Act Release
No. 66952, 77 FR 28641 (May 15, 2012). On June 29, 2012, Nasdaq OMX
BX, Inc. was added as a Sponsor to the OLPP. See Securities Exchange
Act Release No. 67327, 77 FR 40125 (July 6, 2012) (``BX'').
---------------------------------------------------------------------------
I. Description and Purpose of the Amendment
The current Sponsors of the OLPP are BATS, BOX, BX, CBOE, C2, ISE,
Nasdaq, NYSE Amex, NYSE Arca, OCC, and Phlx. The proposed amendment to
the OLPP would add MIAX as a Sponsor of the OLPP. A national securities
[[Page 65734]]
exchange may become a Sponsor if it satisfies the requirement of
Section 7 of the OLPP. Specifically an Eligible Exchange \4\ may become
a Sponsor of the OLPP by: (i) Executing a copy of the OLPP, as then in
effect; (ii) providing each current Plan Sponsor with a copy of such
executed Plan; and (iii) effecting an amendment to the OLPP, as
specified in Section 7(ii) of the OLPP.
---------------------------------------------------------------------------
\4\ The OLPP defines an ``Eligible Exchange'' as a national
securities exchange registered with the Commission pursuant to
Section 6(a) of the Exchange Act, 15 U.S.C. 78f(a), that (1) has
effective rules for the trading of options contracts issued and
cleared by the OCC approved in accordance with the provisions of the
Exchange Act and the rules and regulations thereunder and (2) is a
party to the Plan for Reporting Consolidated Options Last Sale
Reports and Quotation Information (the ``OPRA Plan''). MIAX has
represented that it has met both the requirements for being
considered an Eligible Exchange.
---------------------------------------------------------------------------
Section 7(ii) of the OLPP sets forth the process by which an
Eligible Exchange may effect an amendment to the OLPP. Specifically, an
Eligible Exchange must: (a) Execute a copy of the OLPP with the only
change being the addition of the new sponsor's name in Section 8 of the
OLPP; \5\ and (b) submit the executed OLPP to the Commission. The OLPP
then provides that such an amendment will be effective at the later of
either the amendment being approved by the Commission or otherwise
becoming effective pursuant to Section 11A of the Act. MIAX has
submitted a signed copy of the OLPP to the Commission and to each Plan
Sponsor in accordance with the procedures set forth in the OLPP
regarding new Plan Sponsors.
---------------------------------------------------------------------------
\5\ The Commission notes that the list of plan sponsors is set
forth in Section 9 of the OLPP.
---------------------------------------------------------------------------
II. Effectiveness of the Proposed Linkage Plan Amendment
The foregoing proposed OLPP amendment has become effective pursuant
to Rule 608(b)(3)(iii) \6\ because it involves solely technical or
ministerial matters. At any time within sixty days of the filing of
this amendment, the Commission may summarily abrogate the amendment and
require that it be refiled pursuant to paragraphs (a)(1) of Rule
608,\7\ if it appears to the Commission that such action is necessary
or appropriate in the public interest, for the protection of investors
or the maintenance of fair and orderly markets, to remove impediments
to, and perfect the mechanisms of, a national market system or
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\6\ 17 CFR 242.608(b)(3)(iii).
\7\ 17 CFR 242.608(a)(1).
---------------------------------------------------------------------------
III. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed
amendment is consistent with the Act. Comments may be submitted by any
of the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number 4-443 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number 4-443. 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 Web site (https://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 Web site 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 MIAX's principal office. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File No. 4-443 and should be submitted on or before
November 22, 2013.
By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-26074 Filed 10-31-13; 8:45 am]
BILLING CODE 8011-01-P
