Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Prior Rule Change, SR-PHLX-2016-38, 61722-61723 [2016-21379]
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61722
Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices
By the Commission.
Brent J. Fields,
Secretary.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
[FR Doc. 2016–21584 Filed 9–2–16; 4:15 pm]
BILLING CODE 8011–01–P
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78740; File No. SR–Phlx–
2016–88]
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend
Prior Rule Change, SR–PHLX–2016–38
August 31, 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 August
23, 2016, NASDAQ PHLX LLC (‘‘Phlx’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III, below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
mstockstill on DSK3G9T082PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
prior rule change, SR–Phlx–2016–38,3
which inadvertently contained the
incorrect Exhibit 3.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqomxphlx.
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.
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities and Exchange Act Release No.
77475 (Match 30, 2016), 81 FR 19664 (April 5,
2016) (SR–Phlx–2016–36) [sic].
VerDate Sep<11>2014
18:44 Sep 06, 2016
Jkt 238001
The Exchange proposes to amend the
previously submitted filing SR–Phlx–
2016–38, which contained an incorrect
version of the Exchange’s membership
application as Exhibit 3. This rule filing
seeks to provide the current
membership application in Exhibit 3(a)
which became operative on July 1, 2016.
Following the filing of SR–PHLX–
2016–38 the Exchange continued to use
the ‘‘legacy’’ membership application
though June 30, 2016 which is
contained in Exhibit 3, however, the
Exchange did not receive any
membership applications. The
membership application which is
contained in Exhibit 3(a) and was filed
on May 2 [sic], 2016 as part of SR–
PHLX–2016–38 is a new consolidated
membership form which is applicable to
The Nasdaq Stock Market, Nasdaq BX,
and Nasdaq PHLX which went into
effect following the effectiveness of Rule
921(b) and does not require the
Executive Representative of a PHLX
member firm to provide evidence of
their designation as the Executive
Representative.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,4 in general, and furthers the
objectives of Section 6(b)(5) of the Act,5
in particular, in that it is designed to
protect investors and the public interest
by streamlining various aspects of the
membership process. The filing of the
updated membership form will promote
just and equitable principles of trade,
and foster cooperation and coordination
with persons engaged in facilitating
transactions in securities by eliminating
confusion among forms.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
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.
4 15
5 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00061
Fmt 4703
Sfmt 4703
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 6 and
subparagraph (f)(6) of Rule 19b–4
thereunder.7
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–
Phlx–2016–88 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–Phlx–2016–88. 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/
6 15
U.S.C. 78s(b)(3)(a)(iii) [sic].
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
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.
7 17
E:\FR\FM\07SEN1.SGM
07SEN1
Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices
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 Number SR–Phlx–
2016–88 and should be submitted on or
before September 28, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–21379 Filed 9–6–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
32248; 812–14572]
Voya ETF Trust, et al.; Notice of
Application
August 30, 2016.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of an application for an
order under section 6(c) of the
Investment Company Act of 1940 (the
‘‘Act’’) for an exemption from sections
2(a)(32), 5(a)(1), 22(d), and 22(e) of the
Act and rule 22c–1 under the Act, under
sections 6(c) and 17(b) of the Act for an
exemption from sections 17(a)(1) and
17(a)(2) of the Act, and under section
12(d)(1)(J) for an exemption from
sections 12(d)(1)(A) and 12(d)(1)(B) of
the Act. The requested order would
permit (a) index-based series of certain
open-end management investment
companies (‘‘Funds’’) to issue shares
redeemable in large aggregations only
mstockstill on DSK3G9T082PROD with NOTICES
AGENCY:
8 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:30 Sep 06, 2016
Jkt 238001
(‘‘Creation Units’’); (b) secondary market
transactions in Fund shares to occur at
negotiated market prices rather than at
net asset value (‘‘NAV’’); (c) certain
Funds to pay redemption proceeds,
under certain circumstances, more than
seven days after the tender of shares for
redemption; (d) certain affiliated
persons of a Fund to deposit securities
into, and receive securities from, the
Fund in connection with the purchase
and redemption of Creation Units; (e)
certain registered management
investment companies and unit
investment trusts outside of the same
group of investment companies as the
Funds (‘‘Funds of Funds’’) to acquire
shares of the Funds; and (f) certain
Funds (‘‘Feeder Funds’’) to create and
redeem Creation Units in-kind in a
master-feeder structure.
61723
Road, Suite 100, Scottsdale, Arizona
85258.
FOR FURTHER INFORMATION CONTACT:
Steven I. Amchan, Senior Counsel, at
(202) 551–6826, or David J. Marcinkus,
Branch Chief, at (202) 551–6821
(Division of Investment Management,
Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
Web site by searching for the file
number, or for an applicant using the
Company name box, at https://
www.sec.gov/search/search.htm or by
calling (202) 551–8090.
Summary of the Application
1. Applicants request an order that
would allow Funds to operate as index
exchange traded funds (‘‘ETFs’’).1 Fund
APPLICANTS: Voya ETF Trust (the
shares will be purchased and redeemed
‘‘Trust’’), a Delaware statutory trust that at their NAV in Creation Units only. All
will be registered under the Act as an
orders to purchase Creation Units and
open-end management investment
all redemption requests will be placed
company; Voya Investments, LLC, an
by or through an ‘‘Authorized
Arizona limited liability company, and
Participant’’, which will have signed a
Directed Services LLC, a Delaware a
participant agreement with the
limited liability company (together the
Distributor. Shares will be listed and
‘‘Initial Advisers’’ and individually,
traded individually on a national
each an ‘‘Initial Adviser’’), each
securities exchange, where share prices
registered as an investment adviser
will be based on the current bid/offer
under the Investment Advisers Act of
market. Certain Funds may operate as
1940; and Voya Investments Distributor, Feeder Funds in a master-feeder
LLC (‘‘Distributor’’), an Arizona limited
structure. Any order granting the
liability company and broker-dealer
requested relief would be subject to the
registered under the Securities
terms and conditions stated in the
Exchange Act of 1934 (‘‘Exchange Act’’). application.
2. Each Fund will hold investment
DATES: Filing Dates: The application was
filed on October 27, 2015, and amended positions selected to correspond
generally to the performance of an
on April 7, 2016.
HEARING OR NOTIFICATION OF HEARING: An Underlying Index. In the case of SelfIndexing Funds, an affiliated person, as
order granting the requested relief will
be issued unless the Commission orders defined in section 2(a)(3) of the Act
(‘‘Affiliated Person’’), or an affiliated
a hearing. Interested persons may
person of an Affiliated Person (‘‘Secondrequest a hearing by writing to the
Tier Affiliate’’), of the Trust or a Fund,
Commission’s Secretary and serving
of the Adviser, of any sub-adviser to or
applicants with a copy of the request,
promoter of a Fund, or of the Distributor
personally or by mail. Hearing requests
will compile, create, sponsor or
should be received by the Commission
maintain the Underlying Index.2
by 5:30 p.m. on September 26, 2016,
and should be accompanied by proof of
1 Applicants request that the order apply to the
service on applicants, in the form of an
initial series of the Trust and any additional series
affidavit, or for lawyers, a certificate of
of the Trust, and any other open-end management
service. Pursuant to rule 0–5 under the
investment company or series thereof, that may be
created in the future (each, included in the term
Act, hearing requests should state the
‘‘Fund’’), each of which will operate as an ETF and
nature of the writer’s interest, any facts
will track a specified index comprised of domestic
bearing upon the desirability of a
or foreign equity and/or fixed income securities
hearing on the matter, the reason for the (each, an ‘‘Underlying Index’’). Any Fund will (a)
be advised by an Initial Adviser or an entity
request, and the issues contested.
controlling, controlled by, or under common
Persons who wish to be notified of a
control with an Initial Adviser (each, an ‘‘Adviser’’)
hearing may request notification by
and (b) comply with the terms and conditions of the
writing to the Commission’s Secretary.
application.
2 Each Self-Indexing Fund will post on its Web
ADDRESSES: Secretary, Securities and
Exchange Commission, 100 F Street NE., site the identities and quantities of the investment
positions that will form the basis for the Fund’s
Washington, DC 20549–1090;
calculation of its NAV at the end of the day.
Continued
Applicants: 7337 East Doubletree Ranch
PO 00000
Frm 00062
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]]>Agencies
[Federal Register Volume 81, Number 173 (Wednesday, September 7, 2016)]
[Notices]
[Pages 61722-61723]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21379]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78740; File No. SR-Phlx-2016-88]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Prior Rule
Change, SR-PHLX-2016-38
August 31, 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 August 23, 2016, NASDAQ PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III, below, which
Items have been prepared by the 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 amend prior rule change, SR-Phlx-2016-
38,\3\ which inadvertently contained the incorrect Exhibit 3.
---------------------------------------------------------------------------
\3\ See Securities and Exchange Act Release No. 77475 (Match 30,
2016), 81 FR 19664 (April 5, 2016) (SR-Phlx-2016-36) [sic].
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqomxphlx.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.
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 the previously submitted filing SR-
Phlx-2016-38, which contained an incorrect version of the Exchange's
membership application as Exhibit 3. This rule filing seeks to provide
the current membership application in Exhibit 3(a) which became
operative on July 1, 2016.
Following the filing of SR-PHLX-2016-38 the Exchange continued to
use the ``legacy'' membership application though June 30, 2016 which is
contained in Exhibit 3, however, the Exchange did not receive any
membership applications. The membership application which is contained
in Exhibit 3(a) and was filed on May 2 [sic], 2016 as part of SR-PHLX-
2016-38 is a new consolidated membership form which is applicable to
The Nasdaq Stock Market, Nasdaq BX, and Nasdaq PHLX which went into
effect following the effectiveness of Rule 921(b) and does not require
the Executive Representative of a PHLX member firm to provide evidence
of their designation as the Executive Representative.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to protect
investors and the public interest by streamlining various aspects of
the membership process. The filing of the updated membership form will
promote just and equitable principles of trade, and foster cooperation
and coordination with persons engaged in facilitating transactions in
securities by eliminating confusion among forms.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.
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
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \6\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(a)(iii) [sic].
\7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file 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.
---------------------------------------------------------------------------
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-Phlx-2016-88 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-Phlx-2016-88. 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/
[[Page 61723]]
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 Number SR-
Phlx-2016-88 and should be submitted on or before September 28, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
Robert W. Errett,
Deputy Secretary.
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. 2016-21379 Filed 9-6-16; 8:45 am]
BILLING CODE 8011-01-P
