Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update or Adopt Various Fees for Services Provided by the Financial Industry Regulatory Authority, 53519-53521 [2016-19172]

Download as PDF Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b–4(f)(6)(iii) thereunder.12 A proposed rule change filed pursuant to Rule 19b–4(f)(6) under the Act 13 normally does not become operative for 30 days after the date of its filing. However, Rule 19b–4(f)(6)(iii) 14 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange states that waiver of the 30-day operative delay would permit the Exchange to immediately enhance transparency and to accommodate the projected date that IEX will begin operating as a national securities exchange. Based on the foregoing, the Commission believes the waiver of the operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal operative upon filing.15 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 necessary or appropriate in the public interest, for the protection of investors, or 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 change should be approved or disapproved. IV. Solicitation of Comments mstockstill on DSK3G9T082PROD with NOTICES 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. 12 In addition, Rule 19b–4(f)(6) requires a selfregulatory organization to give the Commission written notice of its intent to file the proposed rule change, along with a brief description and the text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 13 17 CFR 240.19b–4(f)(6). 14 17 CFR 240.19b–4(f)(6)(iii). 15 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Sep<11>2014 18:42 Aug 11, 2016 Jkt 238001 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 No. SR– NYSEArca–2016–106 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 No. SR–NYSEArca–2016–106. 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 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 No. SR–NYSEArca– 2016–106, and should be submitted on or before September 2, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Robert W. Errett, Deputy Secretary. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78503; File No. SR–CHX– 2016–13] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update or Adopt Various Fees for Services Provided by the Financial Industry Regulatory Authority August 8, 2016 Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 2 thereunder, notice is hereby given that on August 4, 2016, the Chicago Stock Exchange, Inc. (‘‘CHX’’ or the ‘‘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 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 CHX proposes to amend its Schedule of Fees and Assessments (the ‘‘Fee Schedule’’) to update or adopt various fees for services provided by the Financial Industry Regulatory Authority (‘‘FINRA’’). The text of this proposed rule change is available on the Exchange’s Web site at (www.chx.com) and in 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 CHX included statements concerning the purpose of and basis for the proposed rule changes 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 CHX has prepared summaries, set forth in sections A, B and C below, of the most significant aspects of such statements. [FR Doc. 2016–19177 Filed 8–11–16; 8:45 am] BILLING CODE 8011–01–P 1 15 16 17 PO 00000 CFR 200.30–3(a)(12). Frm 00125 Fmt 4703 Sfmt 4703 53519 2 17 E:\FR\FM\12AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 12AUN1 53520 Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices are paid directly to FINRA through the WebCRD, as noted above. 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 The Exchange proposes to amend Section J.5 of the Fee Schedule to (1) update various current fees for examinations administered by FINRA and (2) adopt the Series 57 Securities Trader Examination fee,3 so that such fees are identical to corresponding fees reflected under Section 4(c) of the Schedule A of the FINRA By-Laws. FINRA administers these programs on behalf of the exchanges and therefore the fees are payable directly to FINRA through the WebCRD.4 Specifically, the Exchange proposes the following amendments: • Amend the Series 7 Examination fee from $290 to $305.5 • Amend the Series 14 Examination fee from $335 to $350.6 • Amend the Series 27 Examination fee from $115 to $120.7 • Replace reference to the ‘‘Series 56 Examination’’ with the ‘‘Series 57 Examination’’ and adopt a corresponding fee of $120.8 Moreover, given that the Proprietary Trader Continuing Education program is no longer available,9 the Exchange proposes to eliminate reference to the ‘‘Proprietary Trader Continuing Education (S501)’’ and the corresponding $60 fee. The Exchange further proposes to add ‘‘Member Regulation’’ to the title of Section J of the CHX Fee Schedule, as the Exchange’s Member Regulation department is responsible for ensuring that Participants comply with the relevant WebCRD fees, and ‘‘WebCRD’’ to the title of Section J.5 of the CHX Fee Schedule, as all fees under Section J.5 3 The Exchange recently adopted the Securities Trader registration category and corresponding Series 57 Securities Trader Examination, which replaced the Proprietary Trader registration category and corresponding Series 56 Proprietary Examination requirement. See CHX Article 6, Rule 3(a); see also Securities Exchange Act Release No. 78445 (July 29, 2016) (SR–CHX–2016–11). 4 WebCRD is the central licensing and registration system for the U.S. securities industry. The CRD system enables individuals and firms seeking registration with multiple states and self-regulatory organizations to do so by submitting a single form, fingerprint card and a combined payment of fees to FINRA. Through the CRD system, FINRA maintains the qualification, employment and disciplinary histories of registered associated persons of brokerdealers. 5 See Section 4(c) of the Schedule A of the FINRA By-Laws. 6 Id. 7 Id. 8 Id. 9 See CHX Article 6, Rule 11(a)(3); see also supra note 3. VerDate Sep<11>2014 18:42 Aug 11, 2016 Jkt 238001 2. Statutory Basis The Exchange believes that its proposal to amend its fee schedule is consistent with Section 6(b) of the Act 10 in general, and furthers the objectives of Section 6(b)(4) of the Act 11 in particular, in that it is an equitable allocation of reasonable dues, fees and other charges among Exchange members and issuers and other persons using its facilities. The Exchange believes that the proposal to adopt and update the various FINRA administered examination fees is an equitable allocation of dues, fees and other charges because the fee change applies equally to all Participants and the amended or adopted fees are identical to the corresponding fees charged by FINRA pursuant to Section 4(c) of the Schedule A of the FINRA By-Laws. Moreover, the Exchange believes that harmonizing the FINRA administered examination fees with those of FINRA and the other national securities exchanges would further the objectives of Section 6(b)(5) of the Act 12 by removing impediments to and perfecting the mechanism of a free and open market and a national market system. In addition, the Exchange believes that amending the title to Section J of the Fee Schedule to add the term ‘‘Member Regulation’’ would provide a complete description of the Exchange departments that are responsible for ensuring compliance with the fees set forth thereunder and amending the title to Section J.5 of the Fee Schedule clarifies that the fees set forth thereunder are paid directly to FINRA, which further the objectives of Section 6(b)(1) of the Act 13 in that it further enables the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Act and to comply, and to enforce compliance by its Participants and persons associated with its Participants, with the provisions of the Act, the rules and regulations thereunder, and the rules of the Exchange. B. Self-Regulatory Organization’s Statement of Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Given that 10 15 U.S.C. 78(f)(b). U.S.C. 78(f)(b)(4). 12 15 U.S.C. 78(f)(b)(5). 13 15 U.S.C. 78f(b)(1). the proposed fee change applies to all Participants and harmonizes the CHX Fee Schedule with corresponding fees charged by FINRA pursuant to Section 4(c) of the Schedule A of the FINRA ByLaws, the proposal has no effect on competition. C. Self-Regulatory Organization’s Statement on Comments Regarding the Proposed Rule Changes 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 is effective upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act 14 and subparagraph(f)(2) of Rule 19b–4 thereunder 15 because it establishes or changes a due, fee or other charge imposed by the Exchange. 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 necessary or appropriate in the public interest, for the protection of investors, or 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 No. SR– CHX–2016–13 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 No. SR–CHX–2016–13. This file number should be included on the subject line if email is used. To help the Commission process and review your 11 15 PO 00000 Frm 00126 Fmt 4703 14 15 15 17 Sfmt 4703 E:\FR\FM\12AUN1.SGM U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 12AUN1 Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices 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 the filing also will be available for inspection and copying at the principal office of the CHX. 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. SR–CHX–2016– 13 and should be submitted on or before September 2, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–19172 Filed 8–11–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. mstockstill on DSK3G9T082PROD with NOTICES Extension: Form N–2; SEC File No. 270–21, OMB Control No. 3235–0026. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit this existing collection of information to the Office of 16 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:42 Aug 11, 2016 Jkt 238001 Management and Budget (‘‘OMB’’) for extension and approval. The title for the collection of information is ‘‘Form N–2 (17 CFR 239.14 and 274.11a–1) under the Securities Act of 1933 and under the Investment Company Act of 1940, Registration Statement of Closed-End Management Investment Companies.’’ Form N–2 is the form used by closedend management investment companies (‘‘closed-end funds’’) to register as investment companies under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) and to register their securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’). The primary purpose of the registration process is to provide disclosure of financial and other information current and potential investors for the purpose of evaluating an investment in a security. Form N–2 also permits closed-end funds to provide investors with a prospectus containing information required in a registration statement prior to the sale or at the time of confirmation of delivery of securities. The form also may be used by the Commission in its regulatory review, inspection, and policy-making roles. The Commission estimates that there are 136 initial registration statements and 30 post-effective amendments to initial registration statements filed on Form N–2 annually and that the average number of portfolios referenced in each initial filing and post-effective amendment is 1. The Commission further estimates that the hour burden for preparing and filing an initial registration statement on Form N–2 is 515 hours per portfolio, and the hour burden for preparing and filing a posteffective amendment on Form N–2 is 107 hours per portfolio. The estimated annual hour burden for preparing and filing initial registration statements is 70,040 hours (136 initial registration statements × 1 portfolio × 515 hours per portfolio). The estimated annual hour burden for preparing and filing posteffective amendments is 3,210 hours (30 post-effective amendments × 1 portfolio × 107 hours per portfolio). The estimated total annual hour burden for Form N–2, therefore, is estimated to be 73,250 hours (70,040 hours + 3,210 hours). The information collection requirements imposed by Form N–2 are mandatory. Responses to the collection of information will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to a collection of PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 53521 information unless it displays a currently valid control number. The public may view the background documentation for this information collection at the following Web site, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: August 5, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–19181 Filed 8–11–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78500; File No. SR– NYSEMKT–2016–72] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE MKT Rule 19—Equities To Specify in Exchange Rules the Exchange’s Use of Data Feeds From Investors’ Exchange, LLC for Order Handling and Execution, Order Routing, and Regulatory Compliance August 8, 2016. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on July 26, 2016, NYSE MKT LLC (the ‘‘Exchange’’ or ‘‘NYSE MKT’’) 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. 1 15 U.S.C.78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 E:\FR\FM\12AUN1.SGM 12AUN1

Agencies

[Federal Register Volume 81, Number 156 (Friday, August 12, 2016)]
[Notices]
[Pages 53519-53521]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-19172]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78503; File No. SR-CHX-2016-13]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Update or Adopt Various Fees for Services Provided by the Financial 
Industry Regulatory Authority

August 8, 2016
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 \2\ thereunder, notice is hereby given 
that on August 4, 2016, the Chicago Stock Exchange, Inc. (``CHX'' or 
the ``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 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

    CHX proposes to amend its Schedule of Fees and Assessments (the 
``Fee Schedule'') to update or adopt various fees for services provided 
by the Financial Industry Regulatory Authority (``FINRA''). The text of 
this proposed rule change is available on the Exchange's Web site at 
(www.chx.com) and in 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 CHX included statements 
concerning the purpose of and basis for the proposed rule changes 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 CHX has prepared summaries, set forth in sections A, 
B and C below, of the most significant aspects of such statements.

[[Page 53520]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend Section J.5 of the Fee Schedule to 
(1) update various current fees for examinations administered by FINRA 
and (2) adopt the Series 57 Securities Trader Examination fee,\3\ so 
that such fees are identical to corresponding fees reflected under 
Section 4(c) of the Schedule A of the FINRA By-Laws. FINRA administers 
these programs on behalf of the exchanges and therefore the fees are 
payable directly to FINRA through the WebCRD.\4\ Specifically, the 
Exchange proposes the following amendments:
---------------------------------------------------------------------------

    \3\ The Exchange recently adopted the Securities Trader 
registration category and corresponding Series 57 Securities Trader 
Examination, which replaced the Proprietary Trader registration 
category and corresponding Series 56 Proprietary Examination 
requirement. See CHX Article 6, Rule 3(a); see also Securities 
Exchange Act Release No. 78445 (July 29, 2016) (SR-CHX-2016-11).
    \4\ WebCRD is the central licensing and registration system for 
the U.S. securities industry. The CRD system enables individuals and 
firms seeking registration with multiple states and self-regulatory 
organizations to do so by submitting a single form, fingerprint card 
and a combined payment of fees to FINRA. Through the CRD system, 
FINRA maintains the qualification, employment and disciplinary 
histories of registered associated persons of broker-dealers.
---------------------------------------------------------------------------

     Amend the Series 7 Examination fee from $290 to $305.\5\
---------------------------------------------------------------------------

    \5\ See Section 4(c) of the Schedule A of the FINRA By-Laws.
---------------------------------------------------------------------------

     Amend the Series 14 Examination fee from $335 to $350.\6\
---------------------------------------------------------------------------

    \6\ Id.
---------------------------------------------------------------------------

     Amend the Series 27 Examination fee from $115 to $120.\7\
---------------------------------------------------------------------------

    \7\ Id.
---------------------------------------------------------------------------

     Replace reference to the ``Series 56 Examination'' with 
the ``Series 57 Examination'' and adopt a corresponding fee of $120.\8\
---------------------------------------------------------------------------

    \8\ Id.
---------------------------------------------------------------------------

    Moreover, given that the Proprietary Trader Continuing Education 
program is no longer available,\9\ the Exchange proposes to eliminate 
reference to the ``Proprietary Trader Continuing Education (S501)'' and 
the corresponding $60 fee.
---------------------------------------------------------------------------

    \9\ See CHX Article 6, Rule 11(a)(3); see also supra note 3.
---------------------------------------------------------------------------

    The Exchange further proposes to add ``Member Regulation'' to the 
title of Section J of the CHX Fee Schedule, as the Exchange's Member 
Regulation department is responsible for ensuring that Participants 
comply with the relevant WebCRD fees, and ``WebCRD'' to the title of 
Section J.5 of the CHX Fee Schedule, as all fees under Section J.5 are 
paid directly to FINRA through the WebCRD, as noted above.
2. Statutory Basis
    The Exchange believes that its proposal to amend its fee schedule 
is consistent with Section 6(b) of the Act \10\ in general, and 
furthers the objectives of Section 6(b)(4) of the Act \11\ in 
particular, in that it is an equitable allocation of reasonable dues, 
fees and other charges among Exchange members and issuers and other 
persons using its facilities. The Exchange believes that the proposal 
to adopt and update the various FINRA administered examination fees is 
an equitable allocation of dues, fees and other charges because the fee 
change applies equally to all Participants and the amended or adopted 
fees are identical to the corresponding fees charged by FINRA pursuant 
to Section 4(c) of the Schedule A of the FINRA By-Laws.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78(f)(b).
    \11\ 15 U.S.C. 78(f)(b)(4).
---------------------------------------------------------------------------

    Moreover, the Exchange believes that harmonizing the FINRA 
administered examination fees with those of FINRA and the other 
national securities exchanges would further the objectives of Section 
6(b)(5) of the Act \12\ by removing impediments to and perfecting the 
mechanism of a free and open market and a national market system.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78(f)(b)(5).
---------------------------------------------------------------------------

    In addition, the Exchange believes that amending the title to 
Section J of the Fee Schedule to add the term ``Member Regulation'' 
would provide a complete description of the Exchange departments that 
are responsible for ensuring compliance with the fees set forth 
thereunder and amending the title to Section J.5 of the Fee Schedule 
clarifies that the fees set forth thereunder are paid directly to 
FINRA, which further the objectives of Section 6(b)(1) of the Act \13\ 
in that it further enables the Exchange to be so organized as to have 
the capacity to be able to carry out the purposes of the Act and to 
comply, and to enforce compliance by its Participants and persons 
associated with its Participants, with the provisions of the Act, the 
rules and regulations thereunder, and the rules of the Exchange.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement of Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. Given that the proposed fee 
change applies to all Participants and harmonizes the CHX Fee Schedule 
with corresponding fees charged by FINRA pursuant to Section 4(c) of 
the Schedule A of the FINRA By-Laws, the proposal has no effect on 
competition.

C. Self-Regulatory Organization's Statement on Comments Regarding the 
Proposed Rule Changes 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 is effective upon filing pursuant to 
Section 19(b)(3)(A)(ii) of the Act \14\ and subparagraph(f)(2) of Rule 
19b-4 thereunder \15\ because it establishes or changes a due, fee or 
other charge imposed by the Exchange.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \15\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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 necessary or 
appropriate in the public interest, for the protection of investors, or 
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 No. SR-CHX-2016-13 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 No. SR-CHX-2016-13. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your

[[Page 53521]]

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 
the filing also will be available for inspection and copying at the 
principal office of the CHX. 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. SR-CHX-2016-13 and should be submitted on or before September 
2, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-19172 Filed 8-11-16; 8:45 am]
 BILLING CODE 8011-01-P
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