Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Allow Listed Companies Not Currently Subject to Nasdaq's All-Inclusive Annual Listing Fee To Opt In to That Fee Program for 2017, 42388-42390 [2016-15360]
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42388
Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change will
become effective on June 13, 2016.
At any time within 60 days of the date
of effectiveness of the proposed rule
change, the Commission, after
consultation with the CFTC, may
summarily abrogate the proposed rule
change and require that the proposed
rule change be refiled in accordance
with the provisions of Section 19(b)(1)
of the Act.7
IV. Solicitation of Comments
office of the Exchange. 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 Number SR–CFE–
2016–002, and should be submitted on
or before July 20, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Brent J. Fields,
Secretary.
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:
[FR Doc. 2016–15322 Filed 6–28–16; 8:45 am]
Electronic Comments
[Release No. 34–78029; File No. SR–
NYSEMKT–2016–45]
• 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 SR–
CFE–2016–002 on the subject line.
mstockstill on DSK3G9T082PROD with NOTICES
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–CFE–2016–002. 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 the principal
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; NYSE
MKT LLC; Suspension of and Order
Instituting Proceedings To Determine
Whether To Approve or Disapprove a
Proposed Rule Change To Modify the
NYSE Amex Options Fee Schedule
With Respect to Fees, Rebates, and
Credits for Transactions in the
Customer Best Execution Auction
June 9, 2016.
Correction
In notice document 2016–14086,
beginning on page 39089 in the issue of
Wednesday, June 15, 2016, make the
following corrections:
1. On page 39091, in the third
column, in the ninth and tenth lines,
‘‘July 5, 2016’’ should read ‘‘July 6,
2016’’.
2. On the same page, in the eleventh
line, ‘‘July 19, 2016’’ should read ‘‘July
20, 2016’’.
[FR Doc. C1–2016–14086 Filed 6–28–16; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78149; File No. SR–
NASDAQ–2016–085]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Allow Listed
Companies Not Currently Subject to
Nasdaq’s All-Inclusive Annual Listing
Fee To Opt In to That Fee Program for
2017
June 24, 2016.
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 June 10,
2016, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III, 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to allow listed
companies not currently subject to
Nasdaq’s all-inclusive annual listing fee
to opt in to that fee program for 2017.
The changes proposed herein are
effective upon filing.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://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.
BILLING CODE 1505–01–D
1 15
7 15
U.S.C. 78s(b)(1).
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17:18 Jun 28, 2016
8 17
Jkt 238001
PO 00000
CFR 200.30–3(a)(73).
Frm 00081
Fmt 4703
2 17
Sfmt 4703
E:\FR\FM\29JNN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
29JNN1
Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
mstockstill on DSK3G9T082PROD with NOTICES
1. Purpose
Effective January 1, 2015, Nasdaq
adopted an all-inclusive annual listing
fee, which simplifies billing and
provides transparency and certainty to
companies as to the annual cost of
listing.3 This new fee structure was
designed, primarily, to address
customer complaints about the number
and, in some cases, the variable nature
of certain of Nasdaq’s listing fees. It also
provides benefits to Nasdaq, including
eliminating the multiple invoices that
were sent to a company each year and
providing more certainty as to revenue.4
While this new fee structure will
become operative for all listed
companies in 2018, listed companies
were allowed to elect to be subject to the
all-inclusive annual listing fee effective
January 1, 2015, and were provided
certain incentives to do so.5 In the
second half of 2015, Nasdaq offered
listed companies that did not choose to
participate in the all-inclusive annual
fee program for 2015 to do so effective
January 1, 2016. The incentive offered to
these companies was similar to the one
offered to companies that opted to
participate in the all-inclusive annual
fee program for 2015. Companies have
reacted favorably to the new fee
program and these incentives.
Nasdaq now proposes to allow
currently listed companies that did not
previously opt in to the all-inclusive
annual fee program to do so effective
January 1, 2017. Specifically, from June
15, 2016 until December 31, 2016,
Nasdaq will allow companies to opt in
to the all-inclusive annual fee program
for 2017. Any company that does so will
not be billed for the next $30,000 in fees
for the listing of additional shares
otherwise payable to Nasdaq, regardless
of when the shares were issued. Fees for
share issuances that were already billed
at the time the opt-in form is submitted
will not be forgiven. Nasdaq does not
believe that this incentive will have an
adverse impact on the amount of funds
available for its regulatory programs.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,6 in
general, and with Sections 6(b)(4) and
3 Securities Exchange Act Release No. 73647
(November 19, 2014), 79 FR 70232 (November 25,
2014) (SR–NASDAQ–2014–087).
4 Id.
5 See IM–5910–1(b)(1) and IM–5920–1(b)(1).
6 15 U.S.C. 78f.
VerDate Sep<11>2014
17:18 Jun 28, 2016
Jkt 238001
(5) of the Act,7 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees, and other charges
among its members, issuers and other
persons using its facilities, and does not
unfairly discriminate between
customers, issuers, brokers, or dealers.
Nasdaq believes that the proposed
incentive offered to companies that elect
the all-inclusive annual listing fee
starting in 2017 is reasonable, equitable,
and not unfairly discriminatory. This
incentive is available equally to all
companies. Moreover, no company is
required to opt in to the all-inclusive
annual fee program under this change.
In addition, as noted above, Nasdaq
will accrue benefits from companies
electing the all-inclusive annual listing
fee structure. These benefits include
eliminating the multiple invoices that
are sent to a company each year and
providing more certainty as to revenue.
The incentive is designed to help
Nasdaq capture those benefits sooner,
which is a reasonable and nondiscriminatory reason to provide the
incentive to companies.
Finally, the proposed incentive is
consistent with the investor protection
objectives of Section 6(b)(5) of the Act 8
in that it is designed to promote just and
equitable principles of trade, to remove
impediments to a free and open market
and national market system, and in
general to protect investors and the
public interest. Specifically, the
proposed change will not impact the
resources available for Nasdaq’s listing
compliance program, which helps to
assure that listing standards are
properly enforced and investors are
protected.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change will not
result in any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act,
as amended. The market for listing
services is extremely competitive and
listed companies may freely choose
alternative venues based on the
aggregate fees assessed, and the value
provided by each listing. As such,
Nasdaq believes that this proposed rule
change does not encumber the
competition for listings with other
listing venues, which are similarly free
to set their fees, but rather reflects the
competition between listing venues and
will further enhance such competition.
7 15
8 15
PO 00000
U.S.C. 78f(b)(4) and (5).
U.S.C. 78f(b)(5).
Frm 00082
Fmt 4703
Sfmt 4703
42389
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 foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.9
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: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
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 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 SR–
NASDAQ–2016–085 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–2016–085. 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
9 15
E:\FR\FM\29JNN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
29JNN1
42390
Federal Register / Vol. 81, No. 125 / Wednesday, June 29, 2016 / Notices
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 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;
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 Number SR–
NASDAQ–2016–085 and should be
submitted on or before July 20, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Brent J. Fields,
Secretary.
[FR Doc. 2016–15360 Filed 6–28–16; 8:45 am]
be determined, is in the national
interest. I have ordered that Public
Notice of these Determinations be
published in the Federal Register.
For
further information, including a list of
the imported objects, contact the Office
of Public Diplomacy and Public Affairs
in the Office of the Legal Adviser, U.S.
Department of State (telephone: 202–
632–6471; email: section2459@
state.gov). The mailing address is U.S.
Department of State, L/PD, SA–5, Suite
5H03, Washington, DC 20522–0505.
FOR FURTHER INFORMATION CONTACT:
Dated: June 22, 2016.
Mark Taplin,
Principal Deputy Assistant Secretary, Bureau
of Educational and Cultural Affairs,
Department of State.
[FR Doc. 2016–15401 Filed 6–28–16; 8:45 am]
BILLING CODE 4710–05–P
DEPARTMENT OF STATE
[Public Notice 9618]
BILLING CODE 8011–01–P
30-Day Notice of Proposed Information
Collection: Application for a U.S.
Passport
DEPARTMENT OF STATE
ACTION:
Notice of request for public
comment and submission to OMB of
proposed collection of information.
[Public Notice: 9616]
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Kai
Althoff: and then leave me to the
common swifts’’ Exhibition
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), E.O. 12047 of March 27, 1978, the
Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236–3 of August 28, 2000 (and, as
appropriate, Delegation of Authority No.
257 of April 15, 2003), I hereby
determine that the objects to be
included in the exhibition ‘‘Kai Althoff:
and then leave me to the common
swifts,’’ imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to loan
agreements with the foreign owners or
custodians. I also determine that the
exhibition or display of the exhibit
objects at the Museum of Modern Art,
New York, New York, from on or about
September 18, 2016, until on or about
January 22, 2017, and at possible
additional exhibitions or venues yet to
mstockstill on DSK3G9T082PROD with NOTICES
SUMMARY:
10 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:18 Jun 28, 2016
Jkt 238001
The Department of State has
submitted the information collection
described below to the Office of
Management and Budget (OMB) for
approval. In accordance with the
Paperwork Reduction Act of 1995 we
are requesting comments on this
collection from all interested
individuals and organizations. The
purpose of this Notice is to allow 30
days for public comment.
DATES: Submit comments directly to the
Office of Management and Budget
(OMB) up to July 29, 2016.
ADDRESSES: Direct comments to the
Department of State Desk Officer in the
Office of Information and Regulatory
Affairs at the Office of Management and
Budget (OMB). You may submit
comments by the following methods:
• Email: oira_submission@
omb.eop.gov. You must include the DS
form number, information collection
title, and the OMB control number in
the subject line of your message.
• Fax: 202–395–5806. Attention: Desk
Officer for Department of State.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed collection
instrument and supporting documents,
by mail to PPT Forms Officer, U.S.
SUMMARY:
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
Department of State, CA/PPT/S/L/LA
44132 Mercure Cir, P.O. Box 1227
Sterling, VA 20166–1227, by phone at
(202) 485–6373, or by email at
PPTFormsOfficer@state.gov.
SUPPLEMENTARY INFORMATION:
• Title of Information Collection:
Application for a U.S. Passport.
• OMB Control Number: 1405–0004.
• Type of Request: Revision of a
Currently Approved Collection.
• Originating Office: Bureau of
Consular Affairs, Passport Services,
Office of Legal Affairs and Law
Enforcement Liaison (CA/PPT/S/L/LA).
• Form Number: DS–11.
• Respondents: Individuals.
• Estimated Number of Respondents:
11,763,831.
• Estimated Number of Responses:
11,763,831.
• Average Time Per Response: 85
minutes.
• Total Estimated Burden Time:
16,665,427 hours.
• Frequency: On Occasion.
• Obligation to Respond: Required to
Obtain a Benefit.
We are soliciting public comments to
permit the Department to:
• Evaluate whether the proposed
information collection is necessary for
the proper functions of the Department.
• Evaluate the accuracy of our
estimate of the time and cost burden for
this proposed collection, including the
validity of the methodology and
assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected.
• Minimize the reporting burden on
those who are to respond, including the
use of automated collection techniques
or other forms of information
technology.
Please note that comments submitted
in response to this Notice are public
record. Before including any detailed
personal information, you should be
aware that your comments as submitted,
including your personal information,
will be available for public review.
Abstract of proposed collection: The
DS–11 solicits data necessary for
Passport Services to issue a United
States passport (book and/or card
format) pursuant to authorities granted
to the Secretary of State by 22 U.S.C.
211a et seq. and Executive Order (E.O.)
11295 (August 5, 1966) for the issuance
of passports to U.S. nationals.
The issuance of U.S. passports
requires the determination of identity,
nationality, and entitlement with
reference to the provisions of Title III of
the Immigration and Nationality Act
(INA) (8 U.S.C. 1401–1504), the 14th
E:\FR\FM\29JNN1.SGM
29JNN1
]]>Agencies
[Federal Register Volume 81, Number 125 (Wednesday, June 29, 2016)]
[Notices]
[Pages 42388-42390]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15360]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78149; File No. SR-NASDAQ-2016-085]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Allow Listed Companies Not Currently Subject to Nasdaq's All-Inclusive
Annual Listing Fee To Opt In to That Fee Program for 2017
June 24, 2016.
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 June 10, 2016, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III, 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 allow listed companies not currently
subject to Nasdaq's all-inclusive annual listing fee to opt in to that
fee program for 2017. The changes proposed herein are effective upon
filing.
The text of the proposed rule change is available on the Exchange's
Web site at https://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.
[[Page 42389]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Effective January 1, 2015, Nasdaq adopted an all-inclusive annual
listing fee, which simplifies billing and provides transparency and
certainty to companies as to the annual cost of listing.\3\ This new
fee structure was designed, primarily, to address customer complaints
about the number and, in some cases, the variable nature of certain of
Nasdaq's listing fees. It also provides benefits to Nasdaq, including
eliminating the multiple invoices that were sent to a company each year
and providing more certainty as to revenue.\4\
---------------------------------------------------------------------------
\3\ Securities Exchange Act Release No. 73647 (November 19,
2014), 79 FR 70232 (November 25, 2014) (SR-NASDAQ-2014-087).
\4\ Id.
---------------------------------------------------------------------------
While this new fee structure will become operative for all listed
companies in 2018, listed companies were allowed to elect to be subject
to the all-inclusive annual listing fee effective January 1, 2015, and
were provided certain incentives to do so.\5\ In the second half of
2015, Nasdaq offered listed companies that did not choose to
participate in the all-inclusive annual fee program for 2015 to do so
effective January 1, 2016. The incentive offered to these companies was
similar to the one offered to companies that opted to participate in
the all-inclusive annual fee program for 2015. Companies have reacted
favorably to the new fee program and these incentives.
---------------------------------------------------------------------------
\5\ See IM-5910-1(b)(1) and IM-5920-1(b)(1).
---------------------------------------------------------------------------
Nasdaq now proposes to allow currently listed companies that did
not previously opt in to the all-inclusive annual fee program to do so
effective January 1, 2017. Specifically, from June 15, 2016 until
December 31, 2016, Nasdaq will allow companies to opt in to the all-
inclusive annual fee program for 2017. Any company that does so will
not be billed for the next $30,000 in fees for the listing of
additional shares otherwise payable to Nasdaq, regardless of when the
shares were issued. Fees for share issuances that were already billed
at the time the opt-in form is submitted will not be forgiven. Nasdaq
does not believe that this incentive will have an adverse impact on the
amount of funds available for its regulatory programs.
2. Statutory Basis
Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\6\ in general, and with
Sections 6(b)(4) and (5) of the Act,\7\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees, and
other charges among its members, issuers and other persons using its
facilities, and does not unfairly discriminate between customers,
issuers, brokers, or dealers.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
Nasdaq believes that the proposed incentive offered to companies
that elect the all-inclusive annual listing fee starting in 2017 is
reasonable, equitable, and not unfairly discriminatory. This incentive
is available equally to all companies. Moreover, no company is required
to opt in to the all-inclusive annual fee program under this change.
In addition, as noted above, Nasdaq will accrue benefits from
companies electing the all-inclusive annual listing fee structure.
These benefits include eliminating the multiple invoices that are sent
to a company each year and providing more certainty as to revenue. The
incentive is designed to help Nasdaq capture those benefits sooner,
which is a reasonable and non-discriminatory reason to provide the
incentive to companies.
Finally, the proposed incentive is consistent with the investor
protection objectives of Section 6(b)(5) of the Act \8\ in that it is
designed to promote just and equitable principles of trade, to remove
impediments to a free and open market and national market system, and
in general to protect investors and the public interest. Specifically,
the proposed change will not impact the resources available for
Nasdaq's listing compliance program, which helps to assure that listing
standards are properly enforced and investors are protected.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change will not result in any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act, as amended. The market for listing services is
extremely competitive and listed companies may freely choose
alternative venues based on the aggregate fees assessed, and the value
provided by each listing. As such, Nasdaq believes that this proposed
rule change does not encumber the competition for listings with other
listing venues, which are similarly free to set their fees, but rather
reflects the competition between listing venues and will further
enhance such competition.
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 foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\9\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
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 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 SR-NASDAQ-2016-085 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-2016-085. 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
[[Page 42390]]
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 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; 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 Number SR-NASDAQ-2016-085 and should
be submitted on or before July 20, 2016.
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\10\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
Brent J. Fields,
Secretary.
[FR Doc. 2016-15360 Filed 6-28-16; 8:45 am]
BILLING CODE 8011-01-P
