Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of Eight PIMCO Exchange-Traded Funds, 12228 [2015-05161]

Download as PDF 12228 Federal Register / Vol. 80, No. 44 / Friday, March 6, 2015 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74407; File No. SR– NYSEArca–2014–89] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of Eight PIMCO ExchangeTraded Funds March 2, 2015. On August 15, 2014, NYSE Arca, Inc. (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade shares of the following eight PIMCO exchange-traded funds, pursuant to NYSE Arca Equities Rule 8.600: PIMCO StocksPLUS® Absolute Return Exchange-Traded Fund, PIMCO Small Cap StocksPLUS® AR Strategy Exchange-Traded Fund, PIMCO Fundamental IndexPLUS® AR Exchange-Traded Fund, PIMCO Small Company Fundamental IndexPLUS® AR Strategy Exchange-Traded Fund, PIMCO EM Fundamental IndexPLUS® AR Strategy Exchange-Traded Fund, PIMCO International Fundamental IndexPLUS® AR Strategy Exchange-Traded Fund, PIMCO EM StocksPLUS® AR Strategy Exchange-Traded Fund, and PIMCO International StocksPLUS® AR Strategy Exchange-Traded Fund (Unhedged) (each a ‘‘Fund’’ and collectively, the ‘‘Funds’’). The proposed rule change was published for comment in the Federal Register on September 3, 2014.3 On October 15, 2014, pursuant to section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On December 1, 2014, the Commission instituted proceedings under section 19(b)(2)(B) of 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 72937 (Aug. 27, 2014), 79 FR 52385. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 73364, 79 FR 62988 (Oct. 21, 2014). The Commission designated a longer period within which to take action on the proposed rule change and designated December 2, 2014 as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change. mstockstill on DSK4VPTVN1PROD with NOTICES 2 17 VerDate Sep<11>2014 18:59 Mar 05, 2015 Jkt 235001 the Act 6 to determine whether to approve or disapprove the proposed rule change.7 On December 23, 2014, the Exchange filed Amendment No. 1 to the proposed rule change, which entirely replaced and superseded its proposal as originally filed.8 The Commission has not received any comments on the proposed rule change. Section 19(b)(2) of the Act 9 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of the filing of the proposed rule change. The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on September 3, 2014,10 and the 180th day after publication of the notice of the filing of the proposed rule change in the Federal Register is March 2, 2015. The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time 6 16 U.S.C. 78s(b)(2)(B). Securities Exchange Act Release No. 73706, 79 FR 72223 (December 5, 2014) (‘‘Order Instituting Proceedings’’). In the Order Instituting Proceedings, the Commission noted that it was instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with the requirement of Section (6)(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest. 8 In Amendment No. 1, the Exchange: (1) Clarified the definition of Fixed Income Instruments; (2) clarified that the types of securities and instruments specified as permitted investments may be economically tied to foreign countries; (3) clarified that the types of securities specified as permitted investments may be denominated in foreign currencies; (4) clarified that the Funds may invest in OTC foreign currency options contracts; (5) eliminated the ability of the Funds to enter into any series of purchase and sale contracts; (6) modified the proposal to exclude from the Funds’ permitted investments variable and floating rate securities and floaters and inverse floaters that are not Fixed Income Instruments; (7) modified the proposal to provide that a Fund may invest up to 20% of its total assets in (a) trade claims, (b) junior bank loans, (c) exchange-traded and OTC-traded structured products, and (d) privately placed and unregistered securities (except that no limit will apply to privately placed and unregistered securities that satisfy the listing requirements in the Exchange’s Rule 5.2(j)(3), Commentary .02(a)(6)); and (8) clarified that each Fund may invest up to 20% of its total assets in senior bank loans. 9 15 U.S.C. 78s(b)(2). 10 See supra note 3. 7 See PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 to consider the proposed rule change, as modified by Amendment No. 1. Accordingly, the Commission, pursuant to section 19(b)(2) of the Act,11 designates May 1, 2015 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–NYSEArca– 2014–89). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Brent J. Fields, Secretary. [FR Doc. 2015–05161 Filed 3–5–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74405; File No. SR–NYSE– 2015–08] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Price List March 2, 2015. Pursuant to section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on February 26, 2015, New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory 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 The Exchange proposes to amend its Price List to (1) revise credits applicable to certain Designated Market Maker transactions, and (2) revise the credits for Supplemental Liquidity Providers. The Exchange also proposes to amend its Price List to remove certain trading license fees that expire on February 27, 2015. The Exchange proposes to implement the fee change effective March 1, 2015. The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, 11 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(57). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 12 17 E:\FR\FM\06MRN1.SGM 06MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 44 (Friday, March 6, 2015)]
[Notices]
[Page 12228]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-05161]



[[Page 12228]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74407; File No. SR-NYSEArca-2014-89]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1, To List and Trade Shares of Eight PIMCO 
Exchange-Traded Funds

March 2, 2015.
    On August 15, 2014, NYSE Arca, Inc. (``Exchange'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade 
shares of the following eight PIMCO exchange-traded funds, pursuant to 
NYSE Arca Equities Rule 8.600: PIMCO StocksPLUS[supreg] Absolute Return 
Exchange-Traded Fund, PIMCO Small Cap StocksPLUS[supreg] AR Strategy 
Exchange-Traded Fund, PIMCO Fundamental IndexPLUS[supreg] AR Exchange-
Traded Fund, PIMCO Small Company Fundamental IndexPLUS[supreg] AR 
Strategy Exchange-Traded Fund, PIMCO EM Fundamental IndexPLUS[supreg] 
AR Strategy Exchange-Traded Fund, PIMCO International Fundamental 
IndexPLUS[supreg] AR Strategy Exchange-Traded Fund, PIMCO EM 
StocksPLUS[supreg] AR Strategy Exchange-Traded Fund, and PIMCO 
International StocksPLUS[supreg] AR Strategy Exchange-Traded Fund 
(Unhedged) (each a ``Fund'' and collectively, the ``Funds''). The 
proposed rule change was published for comment in the Federal Register 
on September 3, 2014.\3\ On October 15, 2014, pursuant to section 
19(b)(2) of the Act,\4\ the Commission designated a longer period 
within which to approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
disapprove the proposed rule change.\5\ On December 1, 2014, the 
Commission instituted proceedings under section 19(b)(2)(B) of the Act 
\6\ to determine whether to approve or disapprove the proposed rule 
change.\7\ On December 23, 2014, the Exchange filed Amendment No. 1 to 
the proposed rule change, which entirely replaced and superseded its 
proposal as originally filed.\8\ The Commission has not received any 
comments on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 72937 (Aug. 27, 
2014), 79 FR 52385.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 73364, 79 FR 62988 
(Oct. 21, 2014). The Commission designated a longer period within 
which to take action on the proposed rule change and designated 
December 2, 2014 as the date by which it should approve, disapprove, 
or institute proceedings to determine whether to disapprove the 
proposed rule change.
    \6\ 16 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 73706, 79 FR 72223 
(December 5, 2014) (``Order Instituting Proceedings''). In the Order 
Instituting Proceedings, the Commission noted that it was 
instituting proceedings to allow for additional analysis of the 
proposed rule change's consistency with the requirement of Section 
(6)(b)(5) of the Act, which requires, among other things, that the 
rules of a national securities exchange be designed to prevent 
fraudulent and manipulative acts and practices, to promote just and 
equitable principles of trade, and to protect investors and the 
public interest.
    \8\ In Amendment No. 1, the Exchange: (1) Clarified the 
definition of Fixed Income Instruments; (2) clarified that the types 
of securities and instruments specified as permitted investments may 
be economically tied to foreign countries; (3) clarified that the 
types of securities specified as permitted investments may be 
denominated in foreign currencies; (4) clarified that the Funds may 
invest in OTC foreign currency options contracts; (5) eliminated the 
ability of the Funds to enter into any series of purchase and sale 
contracts; (6) modified the proposal to exclude from the Funds' 
permitted investments variable and floating rate securities and 
floaters and inverse floaters that are not Fixed Income Instruments; 
(7) modified the proposal to provide that a Fund may invest up to 
20% of its total assets in (a) trade claims, (b) junior bank loans, 
(c) exchange-traded and OTC-traded structured products, and (d) 
privately placed and unregistered securities (except that no limit 
will apply to privately placed and unregistered securities that 
satisfy the listing requirements in the Exchange's Rule 5.2(j)(3), 
Commentary .02(a)(6)); and (8) clarified that each Fund may invest 
up to 20% of its total assets in senior bank loans.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of the filing of the proposed rule 
change. The Commission may, however, extend the period for issuing an 
order approving or disapproving the proposed rule change by not more 
than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on September 3, 2014,\10\ and the 180th day after 
publication of the notice of the filing of the proposed rule change in 
the Federal Register is March 2, 2015.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 3.
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change, as modified by Amendment No. 1. Accordingly, the 
Commission, pursuant to section 19(b)(2) of the Act,\11\ designates May 
1, 2015 as the date by which the Commission shall either approve or 
disapprove the proposed rule change (File No. SR-NYSEArca-2014-89).
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-05161 Filed 3-5-15; 8:45 am]
 BILLING CODE 8011-01-P

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