Self-Regulatory Organizations; The Depository Trust Company; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Pursuant to Which DTC Would Impose Deposit Chills and Global Locks and Provide Fair Procedures to Issuers, 49309 [2016-17665]

Download as PDF Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 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. SR–NYSEMKT– 2016–15, and should be submitted by August 17, 2016. Rebuttal comments should be submitted by August 31, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.81 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–17675 Filed 7–26–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78379; File No. SR–DTC– 2016–003] Self-Regulatory Organizations; The Depository Trust Company; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Pursuant to Which DTC Would Impose Deposit Chills and Global Locks and Provide Fair Procedures to Issuers July 21, 2016. sradovich on DSK3GMQ082PROD with NOTICES On May 27, 2016, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–DTC–2016–003 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 to establish (i) the circumstances under which DTC would impose and release a restriction on Deposits of an Eligible Security (a ‘‘Deposit Chill’’) or on book-entry services for an Eligible Security (a ‘‘Global Lock’’); and (ii) the fair procedures for notice and an opportunity for the issuer of the Eligible Security (the ‘‘Issuer’’) to challenge the Deposit Chill or Global Lock (each, a ‘‘Restriction’’). The proposed rule change was published for comment in the Federal Register on June 9, 2016.3 The Commission received three comment letters to the Proposed Rule Change.4 81 17 CFR 200.30–3(a)(57). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 77991 (June 3, 2016), 81 FR 37232 (June 9, 2016) (SR– DTC–2016–003). 4 See letters from Charles V. Rossi, Chairman, The Securities Transfer Association, Inc. Board Advisory Committee, dated June 30, 2016, to Brent VerDate Sep<11>2014 17:01 Jul 26, 2016 Jkt 238001 Section 19(b)(2) of the Act 5 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, 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 24, 2016. The Commission is extending this 45day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the comments received on the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates September 7, 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– DTC–2016–003). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–17665 Filed 7–26–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78383; File No. SR– NYSEArca–2016–104] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change Amending NYSE Arca Equities Rules 2.16(c) and 2.21(i) to Harmonize the Requirement of When an ETP Holder Must File a Uniform Termination Notice for Securities Industry Registration With the Rules of Other Exchanges and FINRA July 21, 2016. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the J. Fields, Secretary, Commission; Dorian Deyet, dated June 30, 2016 (two submissions). 5 15 U.S.C. 78s(b)(2). 6 Id. 7 17 CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 49309 ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on July 14, 2016, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II 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 The Exchange proposes to amend NYSE Arca Equities Rules 2.16(c) and 2.21(i) to harmonize the requirement of when an ETP Holder must file an [sic] Uniform Termination Notice for Securities Industry Registration (‘‘Form U–5’’) with the rules of other exchanges and FINRA. The proposed rule change is available on the Exchange’s Web site at www.nyse.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 self-regulatory organization 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 those 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend NYSE Arca Equities Rules 2.16(c) and 2.21(i) to harmonize the requirement of when an ETP Holder must file a Form U–5 with the requirements on [sic] other exchanges and the Financial Industry Regulatory Authority (‘‘FINRA’’). This filing is not intended to address any other registration requirements in Exchange rules. Specifically, under current Rule 2.16(c), an ETP Holder is required to electronically file a Form U–5 and any amendment thereto within 30 days of the termination when a person 2 15 3 17 E:\FR\FM\27JYN1.SGM U.S.C. 78a. CFR 240.19b–4. 27JYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)]
[Notices]
[Page 49309]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17665]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78379; File No. SR-DTC-2016-003]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change Pursuant to Which DTC Would Impose Deposit Chills 
and Global Locks and Provide Fair Procedures to Issuers

July 21, 2016.
    On May 27, 2016, The Depository Trust Company (``DTC'') filed with 
the Securities and Exchange Commission (``Commission'') proposed rule 
change SR-DTC-2016-003 pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ to 
establish (i) the circumstances under which DTC would impose and 
release a restriction on Deposits of an Eligible Security (a ``Deposit 
Chill'') or on book-entry services for an Eligible Security (a ``Global 
Lock''); and (ii) the fair procedures for notice and an opportunity for 
the issuer of the Eligible Security (the ``Issuer'') to challenge the 
Deposit Chill or Global Lock (each, a ``Restriction''). The proposed 
rule change was published for comment in the Federal Register on June 
9, 2016.\3\ The Commission received three comment letters to the 
Proposed Rule Change.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 77991 (June 3, 
2016), 81 FR 37232 (June 9, 2016) (SR-DTC-2016-003).
    \4\ See letters from Charles V. Rossi, Chairman, The Securities 
Transfer Association, Inc. Board Advisory Committee, dated June 30, 
2016, to Brent J. Fields, Secretary, Commission; Dorian Deyet, dated 
June 30, 2016 (two submissions).
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    Section 19(b)(2) of the Act \5\ 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, 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 24, 2016. The Commission is extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the comments received on the 
proposed rule change. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\6\ designates September 7, 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-DTC-2016-003).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-17665 Filed 7-26-16; 8:45 am]
 BILLING CODE 8011-01-P

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