Order Extending a Temporary Exemption From Compliance With Rules 13n-1 to 13n-12 Under the Securities Exchange Act of 1934, 44337-44338 [2016-16073]
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Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices
Dated: June 29, 2016.
Cynthia L. Attwood,
Chairman.
[FR Doc. 2016–16065 Filed 7–6–16; 8:45 am]
BILLING CODE 7600–01–P
POSTAL REGULATORY COMMISSION
[Docket Nos. CP2016–233; CP2016–234]
New Postal Products
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing
recent Postal Service filings for the
Commission’s consideration concerning
negotiated service agreements. This
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: July 8, 2016
(Comment due date applies to all Docket
Nos. listed above)
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Docketed Proceeding(s)
srobinson on DSK5SPTVN1PROD with NOTICES
I. Introduction
The Commission gives notice that the
Postal Service has filed request(s) for the
Commission to consider matters related
to negotiated service agreement(s). The
requests(s) may propose the addition or
removal of a negotiated service
agreement from the market dominant or
the competitive product list, or the
modification of an existing product
currently appearing on the market
dominant or the competitive product
list.
Section II identifies the docket
number(s) associated with each Postal
Service request, the title of each Postal
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request. For each
request, the Commission appoints an
officer of the Commission to represent
the interests of the general public in the
proceeding, pursuant to 39 U.S.C. 505
(Public Representative). Section II also
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establishes comment deadline(s)
pertaining to each request.
The public portions of the Postal
Service’s request(s) can be accessed via
the Commission’s Web site (https://
www.prc.gov). Non-public portions of
the Postal Service’s request(s), if any,
can be accessed through compliance
with the requirements of 39 CFR
3007.40.
The Commission invites comments on
whether the Postal Service’s request(s)
in the captioned docket(s) are consistent
with the policies of title 39. For
request(s) that the Postal Service states
concern market dominant product(s),
applicable statutory and regulatory
requirements include 39 U.S.C. 3622, 39
U.S.C. 3642, 39 CFR part 3010, and 39
CFR part 3020, subpart B. For request(s)
that the Postal Service states concern
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
II. Docketed Proceeding(s)
1. Docket No(s).: CP2016–233; Filing
Title: Notice of United States Postal
Service of Filing a Functionally
Equivalent Global Expedited Package
Services 6 Negotiated Service
Agreement and Application for NonPublic Treatment of Materials Filed
Under Seal; Filing Acceptance Date:
June 30, 2016; Filing Authority: 39
U.S.C. 3642 and 39 CFR 3020.30 et seq.;
Public Representative: Natalie R. Ward;
Comments Due: July 8, 2016.
2. Docket No(s).: CP2016–234; Filing
Title: Notice of the United States Postal
Service of Filing a Functionally
Equivalent Global Plus 1D Negotiated
Service Agreement and Application for
Non-Public Treatment of Materials Filed
Under Seal; Filing Acceptance Date:
June 30, 2016;
Authority: 39 U.S.C. 3642 and 39 CFR
3020.30 et seq.; Public Representative:
Kenneth R. Moeller; Comments Due: July 8,
2016.
This notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2016–16089 Filed 7–6–16; 8:45 am]
BILLING CODE 7710–FW–P
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44337
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78215]
Order Extending a Temporary
Exemption From Compliance With
Rules 13n–1 to 13n–12 Under the
Securities Exchange Act of 1934
June 30, 2016.
I. Introduction
On March 18, 2016, under its
authority in Section 36 of the Securities
Exchange Act of 1934 (‘‘Exchange Act’’),
the Securities and Exchange
Commission (‘‘Commission’’) granted a
temporary exemption from compliance
with Rules 13n–1 to 13n–12 (‘‘SDR
Rules’’) until June 30, 2016. The
Commission also granted an extension
of the exemptions from Exchange Act
Sections 13(n)(5)(D)(i), 13(n)(5)(F),
13(n)(5)(G), 13(n)(5)(H), 13(n)(7)(A),
13(n)(7)(B), 13(n)(7)(C) and 29(b)
provided in the DFA Effective Date
Order 1 (‘‘SDR Relief’’), as described in
the Commission’s March 18, 2016 order,
such that the SDR Relief will expire on
the earlier of (1) the date the
Commission grants registration to an
SDR and (2) June 30, 2016.2 The
Commission granted the exemptions to
help facilitate the potential submission
of any SDR applications at the time.
Since March 18, 2016, two entities
have filed applications to register with
the Commission as SDRs.3 To allow the
Commission additional time to review
these applications prior to the
compliance date for the SDR Rules and
the expiration of the SDR Relief, the
Commission is extending the
exemptions granted in the March 18,
2016 order.
II. Discussion
The SDR Rules Release 4 states that
SDRs were required to be in compliance
with the SDR Rules by March 18, 2016.
The SDR Rules Release also notes that,
absent an exemption, any SDR must be
registered with the Commission and in
compliance with the federal securities
1 See Temporary Exemptions and Other
Temporary Relief, Together with Information on
Compliance Dates for New Provisions of the
Exchange Act Applicable to Security-Based Swaps,
Exchange Act Release No. 64678 (June 15, 2011), 76
FR 36287 (June 22, 2011) (the ‘‘DFA Effective Date
Order’’).
2 See Exchange Act Release No. 77400 (Mar. 18,
2016), 81 FR 15599 (Mar. 23, 2016) (‘‘SDR Section
36 Order’’).
3 See Exchange Act Release No. 77699 (Apr. 22,
2016), 81 FR 25475 (Apr. 28, 2016) (‘‘ICE Trade
Vault Notice’’) and Exchange Act Release No. xxxx
(xx, 2016), xx FR xxxx (xx, 2016) (‘‘DDR Notice’’).
4 See Exchange Act Release No. 74246 (Feb. 11,
2015), 80 FR 14438 (Mar. 19, 2015) (‘‘SDR Rules
Release’’).
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07JYN1
44338
Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices
srobinson on DSK5SPTVN1PROD with NOTICES
laws and the rules and regulations
thereunder (including the applicable
Dodd-Frank Act provisions and all of
the SDR Rules) by March 18, 2016.5
Since March 18, 2016, two entities
have filed applications to register with
the Commission as SDRs. ICE Trade
Vault, LLC (‘‘ICE Trade Vault’’) filed
with the Commission a Form SDR
seeking registration as an SDR on March
29, 2016 and amended that form on
April 18, 2016. The Commission’s
notice of ICE Trade Vault’s application
for registration as an SDR was published
in the Federal Register on April 28,
2016.6 DTCC Data Repository (U.S.) LLC
(‘‘DDR’’) filed with the Commission a
Form SDR seeking registration as an
SDR on April 6, 2016 and amended that
form on April 25, 2016. The
Commission’s notice of DDR’s
application for registration as an SDR
was published in the Federal Register
on [X, 2016].7 Rule 13n–1(c) provides
that, within 90 days of the date of the
publication of notice of the filing of an
application for registration (or within
such longer period as to which the
applicant consents), the Commission
will either grant the registration by
order or institute proceedings to
determine whether registration should
be granted or denied.
Subject to certain exceptions, Section
36 of the Exchange Act 8 authorizes the
Commission, by rule, regulation, or
order, to exempt, either conditionally or
unconditionally, any person, security,
or transaction, or any class or classes of
persons, securities, or transactions, from
any provision or provisions of the
Exchange Act or any rule or regulation
thereunder, to the extent that such
exemption is necessary or appropriate
in the public interest, and is consistent
with the protection of investors. The
Commission finds that it is necessary
and appropriate in the public interest,
and consistent with the protection of
investors, to grant a temporary
exemption from compliance with the
SDR Rules and an extension of the SDR
Relief. The applications filed by ICE
Trade Vault and DDR are the first SDR
applications submitted to the
Commission and therefore present
issues of first impression for the
Commission’s consideration. Therefore,
to allow the Commission additional
5 See id., 80 FR at 14456. The SDR Rules Release
also notes that all exemptions that the Commission
provided in a previous release, including the
exemption to provisions in Exchange Act Section
13(n), will expire on the March 18, 2016
compliance date. See id. (discussing the ‘‘DFA
Effective Date Order).
6 See ICE Trade Vault Notice.
7 See DDR Notice.
8 15 U.S.C. 78mm.
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time prior to the compliance date for the
SDR Rules and the expiration of the
SDR Relief to review the applications
and consider issues related to the first
applications for registration of SDRs, the
Commission hereby grants, pursuant to
Section 36 of the Exchange Act, a
temporary exemption from compliance
with the SDR Rules and an extension of
the SDR Relief until [X, 2016], which is
90 days from publication of notice of
DDR’s application for registration as a
SDR.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016–16073 Filed 7–6–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78207; File No. SR–
NYSEArca–2016–70]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a
Longer Period for Commission Action
on Proposed Rule Change Regarding
Use of Rule 144A Securities By the
Fidelity Corporate Bond ETF, Fidelity
Investment Grade Bond ETF, Fidelity
Limited Term Bond ETF, and Fidelity
Total Bond ETF
June 30, 2016.
On May 11, 2016, NYSE Arca, Inc.
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 permit the Fidelity Corporate
Bond ETF, Fidelity Investment Grade
Bond ETF, Fidelity Limited Term Bond
ETF, and Fidelity Total Bond ETF to
consider securities issued pursuant to
Rule 144A under the Securities Act of
1933 as debt securities eligible for
principal investment. The proposed rule
change was published for comment in
the Federal Register on May 31, 2016.3
The Commission has received no
comment letters on the proposal.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 77891
(May 24, 2016), 81 FR 34388.
4 15 U.S.C. 78s(b)(2).
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2 17
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the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is July 15, 2016.
The Commission is extending this 45day time period.
The Commission finds it appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider this proposed rule change.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates August 29, 2016, as the date
by which the Commission shall either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–NYSEArca–2016–70).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–16034 Filed 7–6–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736
Extension:
Rule 303; SEC File No. 270–450; OMB
Control No. 3235–0505
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 303 (17 CFR 242.303) of Regulation
ATS (17 CFR 242.300 et seq.) under the
Securities and Exchange Act of 1934
(‘‘Act’’) (15 U.S.C. 78a et seq.).
Regulation ATS sets forth a regulatory
regime for ‘‘alternative trading systems’’
(‘‘ATSs’’), which are entities that carry
out exchange functions but which are
not required to register as national
securities exchanges under the Act. In
lieu of exchange registration, an ATS
5 Id.
6 17
E:\FR\FM\07JYN1.SGM
CFR 200.30–3(a)(31).
07JYN1
Agencies
[Federal Register Volume 81, Number 130 (Thursday, July 7, 2016)]
[Notices]
[Pages 44337-44338]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-16073]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78215]
Order Extending a Temporary Exemption From Compliance With Rules
13n-1 to 13n-12 Under the Securities Exchange Act of 1934
June 30, 2016.
I. Introduction
On March 18, 2016, under its authority in Section 36 of the
Securities Exchange Act of 1934 (``Exchange Act''), the Securities and
Exchange Commission (``Commission'') granted a temporary exemption from
compliance with Rules 13n-1 to 13n-12 (``SDR Rules'') until June 30,
2016. The Commission also granted an extension of the exemptions from
Exchange Act Sections 13(n)(5)(D)(i), 13(n)(5)(F), 13(n)(5)(G),
13(n)(5)(H), 13(n)(7)(A), 13(n)(7)(B), 13(n)(7)(C) and 29(b) provided
in the DFA Effective Date Order \1\ (``SDR Relief''), as described in
the Commission's March 18, 2016 order, such that the SDR Relief will
expire on the earlier of (1) the date the Commission grants
registration to an SDR and (2) June 30, 2016.\2\ The Commission granted
the exemptions to help facilitate the potential submission of any SDR
applications at the time.
---------------------------------------------------------------------------
\1\ See Temporary Exemptions and Other Temporary Relief,
Together with Information on Compliance Dates for New Provisions of
the Exchange Act Applicable to Security-Based Swaps, Exchange Act
Release No. 64678 (June 15, 2011), 76 FR 36287 (June 22, 2011) (the
``DFA Effective Date Order'').
\2\ See Exchange Act Release No. 77400 (Mar. 18, 2016), 81 FR
15599 (Mar. 23, 2016) (``SDR Section 36 Order'').
---------------------------------------------------------------------------
Since March 18, 2016, two entities have filed applications to
register with the Commission as SDRs.\3\ To allow the Commission
additional time to review these applications prior to the compliance
date for the SDR Rules and the expiration of the SDR Relief, the
Commission is extending the exemptions granted in the March 18, 2016
order.
---------------------------------------------------------------------------
\3\ See Exchange Act Release No. 77699 (Apr. 22, 2016), 81 FR
25475 (Apr. 28, 2016) (``ICE Trade Vault Notice'') and Exchange Act
Release No. xxxx (xx, 2016), xx FR xxxx (xx, 2016) (``DDR Notice'').
---------------------------------------------------------------------------
II. Discussion
The SDR Rules Release \4\ states that SDRs were required to be in
compliance with the SDR Rules by March 18, 2016. The SDR Rules Release
also notes that, absent an exemption, any SDR must be registered with
the Commission and in compliance with the federal securities
[[Page 44338]]
laws and the rules and regulations thereunder (including the applicable
Dodd-Frank Act provisions and all of the SDR Rules) by March 18,
2016.\5\
---------------------------------------------------------------------------
\4\ See Exchange Act Release No. 74246 (Feb. 11, 2015), 80 FR
14438 (Mar. 19, 2015) (``SDR Rules Release'').
\5\ See id., 80 FR at 14456. The SDR Rules Release also notes
that all exemptions that the Commission provided in a previous
release, including the exemption to provisions in Exchange Act
Section 13(n), will expire on the March 18, 2016 compliance date.
See id. (discussing the ``DFA Effective Date Order).
---------------------------------------------------------------------------
Since March 18, 2016, two entities have filed applications to
register with the Commission as SDRs. ICE Trade Vault, LLC (``ICE Trade
Vault'') filed with the Commission a Form SDR seeking registration as
an SDR on March 29, 2016 and amended that form on April 18, 2016. The
Commission's notice of ICE Trade Vault's application for registration
as an SDR was published in the Federal Register on April 28, 2016.\6\
DTCC Data Repository (U.S.) LLC (``DDR'') filed with the Commission a
Form SDR seeking registration as an SDR on April 6, 2016 and amended
that form on April 25, 2016. The Commission's notice of DDR's
application for registration as an SDR was published in the Federal
Register on [X, 2016].\7\ Rule 13n-1(c) provides that, within 90 days
of the date of the publication of notice of the filing of an
application for registration (or within such longer period as to which
the applicant consents), the Commission will either grant the
registration by order or institute proceedings to determine whether
registration should be granted or denied.
---------------------------------------------------------------------------
\6\ See ICE Trade Vault Notice.
\7\ See DDR Notice.
---------------------------------------------------------------------------
Subject to certain exceptions, Section 36 of the Exchange Act \8\
authorizes the Commission, by rule, regulation, or order, to exempt,
either conditionally or unconditionally, any person, security, or
transaction, or any class or classes of persons, securities, or
transactions, from any provision or provisions of the Exchange Act or
any rule or regulation thereunder, to the extent that such exemption is
necessary or appropriate in the public interest, and is consistent with
the protection of investors. The Commission finds that it is necessary
and appropriate in the public interest, and consistent with the
protection of investors, to grant a temporary exemption from compliance
with the SDR Rules and an extension of the SDR Relief. The applications
filed by ICE Trade Vault and DDR are the first SDR applications
submitted to the Commission and therefore present issues of first
impression for the Commission's consideration. Therefore, to allow the
Commission additional time prior to the compliance date for the SDR
Rules and the expiration of the SDR Relief to review the applications
and consider issues related to the first applications for registration
of SDRs, the Commission hereby grants, pursuant to Section 36 of the
Exchange Act, a temporary exemption from compliance with the SDR Rules
and an extension of the SDR Relief until [X, 2016], which is 90 days
from publication of notice of DDR's application for registration as a
SDR.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78mm.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-16073 Filed 7-6-16; 8:45 am]
BILLING CODE 8011-01-P