Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt the Third Party Connectivity Service Under Rules 7034(b) and 7051, 70452 [2016-24574]

Download as PDF 70452 Federal Register / Vol. 81, No. 197 / Wednesday, October 12, 2016 / Notices change would enable it to compete for the retention of these companies by offering them a package of complimentary products and services that assist their transition to being a publicly listed operating company for the first time.25 Further, the Commission notes that other exchanges have recently filed similar rule changes with respect to the timing of complementary services offered to SPACs under their rules.26 The Commission also notes that nothing in the Exchange’s rules requires a SPAC to remain listed on the Exchange after it meets the Business Combination Condition and that such company is free to list on other markets. Accordingly, the Commission believes that the proposed rule reflects the current competitive environment for exchange listings among national securities exchanges, and is appropriate and consistent with Section 6(b)(8) of the Act.27 V. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,28 that the proposed rule change (SR–NYSEMKT– 2016–62) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.29 Brent J. Fields, Secretary. [FR Doc. 2016–24608 Filed 10–11–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–79049; File No. SR– Nasdaq–2016–120] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Adopt the Third Party Connectivity Service Under Rules 7034(b) and 7051 October 5, 2016. mstockstill on DSK3G9T082PROD with NOTICES On August 16, 2016, the Nasdaq Stock Market LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act 25 See Notice, supra note 3, 81 FR at 56722. Securities Exchange Act Release No. 78782 (September 7, 2016), 81 FR 62937 (September 13, 2016) (SR–NYSE–2016–58) and Securities Exchange Act Release No. 79025 (October 3, 2016) (SR– NASDAQ–2016–106). 27 15 U.S.C. 78f(b)(8). 28 15 U.S.C. 78s(b)(2). 29 17 CFR 200.30–3(a)(12). 26 See VerDate Sep<11>2014 20:13 Oct 11, 2016 Jkt 241001 of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to adopt the Third Party Connectivity Service under Rules 7034(b) and 7051. The proposed rule change was published for comment in the Federal Register on September 2, 2016.3 The Commission received one comment in response to the proposal.4 The Exchange responded to the comment on October 4, 2016.5 Section 19(b)(2) of the Act 6 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 October 17, 2016. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so as to allow sufficient time to consider the issues raised in the Bats Letter and NASDAQ Response. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,7 designates December 1, 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–Nasdaq–2016–120). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Brent J. Fields, Secretary. [FR Doc. 2016–24574 Filed 10–11–16; 8:45 am] BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 78713 (August 29, 2016), 81 FR 60768. 4 See letter from Eric Swanson, Esq., General Counsel, Bats Global Markets, Inc., to Brent J. Fields, Secretary, Securities and Exchange Commission, dated September 12, 2016 (‘‘Bats Letter’’). 5 See letter from Jeffrey S. Davis, Vice President and General Counsel, NASDAQ Stock Market LLC, to Brent J. Fields, Secretary, Securities and Exchange Commission, dated October 4, 2016 (‘‘NASDAQ Response’’). 6 15 U.S.C. 78s(b)(2). 7 Id. 8 17 CFR 200.30–3(a)(31). 2 17 PO 00000 Frm 00067 Fmt 4703 Sfmt 9990 SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold a closed meeting on Thursday, October 13, 2016 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or her designee, has certified that, in her opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (a)(10), permit consideration of the scheduled matter at the closed meeting. Commissioner Piwowar, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the closed meeting will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; Adjudicatory matters; and Other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed; please contact Brent J. Fields from the Office of the Secretary at (202) 551–5400. Dated: October 6, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–24732 Filed 10–7–16; 11:15 am] BILLING CODE 8011–01–P E:\FR\FM\12OCN1.SGM 12OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 81, Number 197 (Wednesday, October 12, 2016)]
[Notices]
[Page 70452]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-24574]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79049; File No. SR-Nasdaq-2016-120]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change To Adopt the Third Party Connectivity Service 
Under Rules 7034(b) and 7051

October 5, 2016.
    On August 16, 2016, the Nasdaq Stock Market LLC (``Exchange'') 
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 
adopt the Third Party Connectivity Service under Rules 7034(b) and 
7051.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on September 2, 2016.\3\ The Commission received one comment 
in response to the proposal.\4\ The Exchange responded to the comment 
on October 4, 2016.\5\
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    \3\ See Securities Exchange Act Release No. 78713 (August 29, 
2016), 81 FR 60768.
    \4\ See letter from Eric Swanson, Esq., General Counsel, Bats 
Global Markets, Inc., to Brent J. Fields, Secretary, Securities and 
Exchange Commission, dated September 12, 2016 (``Bats Letter'').
    \5\ See letter from Jeffrey S. Davis, Vice President and General 
Counsel, NASDAQ Stock Market LLC, to Brent J. Fields, Secretary, 
Securities and Exchange Commission, dated October 4, 2016 (``NASDAQ 
Response'').
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    Section 19(b)(2) of the Act \6\ 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 October 17, 2016. The Commission is extending this 45-day time 
period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so as to allow 
sufficient time to consider the issues raised in the Bats Letter and 
NASDAQ Response. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\7\ designates December 1, 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-Nasdaq-2016-120).
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-24574 Filed 10-11-16; 8:45 am]
BILLING CODE 8011-01-P

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