In the Matter of the New York Stock Exchange LLC for an Order Granting the Approval of Proposed Rule Change Adopting Maximum Fees Member Organizations May Charge in Connection With the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission; Order Scheduling Filing of Statements on Review, 85655-85656 [2016-28456]

Download as PDF Federal Register / Vol. 81, No. 228 / Monday, November 28, 2016 / Notices 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: mstockstill on DSK3G9T082PROD with NOTICES 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– FINRA–2016–043 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–FINRA–2016–043. 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 FINRA. 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 VerDate Sep<11>2014 21:15 Nov 25, 2016 Jkt 241001 85655 should refer to File Number SR–FINRA– 2016–043 and should be submitted on or before December 19, 2016. SECURITIES AND EXCHANGE COMMISSION For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.39 Robert W. Errett, Deputy Secretary. [Securities Exchange Act of 1934; Release No. 79370/November 21, 2016] [FR Doc. 2016–28458 Filed 11–25–16; 8:45 am] BILLING CODE 8011–01–P 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 Equity Market Structure Advisory Committee will hold a public meeting on Tuesday, November 29, 2016, in the Multipurpose Room, LL– 006 at the Commission’s headquarters, 100 F Street NE., Washington, DC. The meeting will begin at 9:30 a.m. (EST) and will be open to the public. Seating will be on a first-come, firstserved basis. Doors will be open at 9:00 a.m. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s Web site at www.sec.gov. On November 8, 2016, the Commission published notice of the Committee meeting (Release No. 34– 79257), indicating that the meeting is open to the public and inviting the public to submit written comments to the Committee. This Sunshine Act notice is being issued because a majority of the Commission may attend the meeting. The agenda for the meeting will focus on recommendations and updates from the four subcommittees. For further information, please contact Brent J. Fields from the Office of the Secretary at (202) 551–5400. Dated: November 22, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–28642 Filed 11–23–16; 11:15 am] BILLING CODE 8011–01–P 39 17 PO 00000 CFR 200.30–3(a)(12). Frm 00148 Fmt 4703 Sfmt 4703 In the Matter of the New York Stock Exchange LLC for an Order Granting the Approval of Proposed Rule Change Adopting Maximum Fees Member Organizations May Charge in Connection With the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission; Order Scheduling Filing of Statements on Review On August 15, 2016, the New York Stock Exchange LLC (‘‘NYSE’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 1 and Rule 19b– 4 thereunder,2 a proposed rule change to adopt maximum fees NYSE member organizations may charge in connection with the distribution of investment company shareholder reports pursuant to any ‘‘notice and access’’ electronic delivery rules adopted by the Commission.3 On October 5, 2016, the Commission extended the time period for Commission action on the proposal to November 20, 2016.4 On November 18, 2016, the Division of Trading and Markets took action, pursuant to delegated authority, 17 CFR 200.30– 3(a)(12), approving the proposed rule change.5 Pursuant to Commission Rule of Practice 431,6 the Commission is 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Notice of Filing of Proposed Rule Change Adopting Maximum Fees Member Organizations may Charge in Connection with the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission, Securities Exchange Act of 1934, Release No. 78589 (August 16, 2016), 81 FR 56717 (August 22, 2016) (SR– NYSE–2016–55). 4 Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Adopting Maximum Fees Member Organizations May Charge in Connection with the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission, Securities Exchange Act of 1934, Release No. 79051 (October 5, 2016), 81 FR 70449 (October 12, 2016). 5 Order Granting Approval of Proposed Rule Change Adopting Maximum Fees Member Organizations May Charge in Connection with the Distribution of Investment Company Shareholder Reports Pursuant to Any Electronic Delivery Rules Adopted by the Securities and Exchange Commission, Securities Exchange Act of 1934, Release No. 79355 (November 18, 2016). 6 17 CFR 201.431. 2 17 E:\FR\FM\28NON1.SGM 28NON1 85656 Federal Register / Vol. 81, No. 228 / Monday, November 28, 2016 / Notices reviewing the delegated action and the November 18, 2016 order is stayed. Accordingly, it is ordered, pursuant to Rule of Practice 431, that by December 7, 2016, any party or other person may file any additional statement. It is further ordered that the November 18, 2016 order approving the proposed rule change (SR–NYSE–2016– 55) shall remain stayed pending further order of the Commission. By the Commission. Brent J. Fields, Secretary. [FR Doc. 2016–28456 Filed 11–25–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–79362; File No. SR–BOX– 2016–53] Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule on the BOX Market LLC (‘‘BOX’’) Options Facility November 21, 2016. mstockstill on DSK3G9T082PROD with NOTICES Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on November 10, 2016, BOX Options Exchange LLC (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 Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b&4(f)(2) thereunder,4 which renders the proposal effective upon filing with the Commission. 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 the Substance of the Proposed Rule Change The Exchange is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to amend the Fee Schedule on the BOX Market LLC (‘‘BOX’’) options facility. Changes to the Fee Schedule pursuant to this proposal will be effective November 11, 2016. The text of the proposed rule change is available from the principal office of the Exchange, at 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 2 17 VerDate Sep<11>2014 21:15 Nov 25, 2016 Jkt 241001 the Commission’s Public Reference Room and also on the Exchange’s Internet Web site at https:// boxexchange.com. 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 Fee Schedule for trading on BOX. Specifically, the Exchange proposes to revise certain qualification thresholds in Sections I.B.1 of the BOX Fee Schedule, Primary Improvement Order and I.B.2 of the BOX Fee Schedule, the BOX Volume Rebate (‘‘BVR’’). Changes to the Fee Schedule pursuant to this proposal will be effective November 11, 2016.5 Primary Improvement Order Under the tiered fee schedule for Primary Improvement Orders, the Exchange assesses a per contract execution fee to all Primary Improvement Order executions where the corresponding PIP or COPIP Order is from the account of a Public Customer. Percentage thresholds are calculated on a monthly basis by totaling the Initiating Participant’s Primary Improvement Order volume submitted to BOX, relative to the total national Customer volume in multiplylisted options classes. The Exchange proposes to adjust the percentage thresholds in Tiers 4 and 5. Specifically, the Exchange proposes to change Tier 4 from ‘‘0.500% to 0.949%’’ to ‘‘0.500% to 0.799%’’ and Tier 5 from ‘‘0.950% and Above’’ to ‘‘0.800% and Above.’’ The Exchange notes that it is not proposing any changes to the fees within the 5 The Exchange notes that while a Participant’s monthly volume and percentage threshold will remain unchanged, under this proposal their percentage threshold may fall into a different Tier for the remaining trading days in the month. Consequently, a Participant may receive a higher rebate/lower fee for transactions executed within these trading days. PO 00000 Frm 00149 Fmt 4703 Sfmt 4703 Primary Improvement Order fee structure and the quantity submitted will continue to be calculated on a monthly basis by totaling the Initiating Participant’s Primary Improvement Order volume submitted to BOX, relative to the total national Customer volume in multiply-listed options classes. BVR Next, the Exchange proposes to adjust certain percentage thresholds within the BVR. Under the BVR, the Exchange offers a tiered per contract rebate for all Public Customer PIP Orders and COPIP Orders of 100 and under contracts that do not trade solely with their contra order. Percentage thresholds are calculated on a monthly basis by totaling the Participant’s PIP and COPIP volume submitted to BOX, relative to the total national Customer volume in multiply-listed options classes. The Exchange proposes to adjust the percentage thresholds in Tiers 3 and 4. Specifically, the Exchange proposes to change Tier 3 from ‘‘0.340% to 0.949%’’ to ‘‘0.340% to 0.799%’’ and Tier 4 from ‘‘0.950% and Above’’ to ‘‘0.800% and Above.’’ The Exchange notes that is it not proposing any changes to the fees within the BVR. The quantity submitted will continue to be calculated on a monthly basis by totaling the Participant’s PIP and COPIP volume submitted to BOX, relative to the total national Customer volume in multiplylisted options classes. 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of Section 6(b) of the Act, in general, and Section 6(b)(4) and 6(b)(5)of the Act,6 in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among BOX Participants and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. BOX believes it is reasonable, equitable and not unfairly discriminatory to adjust the monthly Percentage Thresholds of National Customer Volume in Multiply-Listed Options Classes. The volume thresholds with their tiered fees and rebates are meant to incentivize Participants to direct order flow to the Exchange to obtain the benefit of the lower fee or higher rebate, which in turn benefits all market participants by increasing liquidity on the Exchange. The Exchange believes the proposed amendments to the Primary 6 15 U.S.C. 78f(b)(4) and (5). E:\FR\FM\28NON1.SGM 28NON1

Agencies

[Federal Register Volume 81, Number 228 (Monday, November 28, 2016)]
[Notices]
[Pages 85655-85656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-28456]


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SECURITIES AND EXCHANGE COMMISSION

[Securities Exchange Act of 1934; Release No. 79370/November 21, 2016]


In the Matter of the New York Stock Exchange LLC for an Order 
Granting the Approval of Proposed Rule Change Adopting Maximum Fees 
Member Organizations May Charge in Connection With the Distribution of 
Investment Company Shareholder Reports Pursuant to Any Electronic 
Delivery Rules Adopted by the Securities and Exchange Commission; Order 
Scheduling Filing of Statements on Review

    On August 15, 2016, the New York Stock Exchange LLC (``NYSE'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to adopt maximum 
fees NYSE member organizations may charge in connection with the 
distribution of investment company shareholder reports pursuant to any 
``notice and access'' electronic delivery rules adopted by the 
Commission.\3\ On October 5, 2016, the Commission extended the time 
period for Commission action on the proposal to November 20, 2016.\4\ 
On November 18, 2016, the Division of Trading and Markets took action, 
pursuant to delegated authority, 17 CFR 200.30-3(a)(12), approving the 
proposed rule change.\5\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Notice of Filing of Proposed Rule Change Adopting Maximum 
Fees Member Organizations may Charge in Connection with the 
Distribution of Investment Company Shareholder Reports Pursuant to 
Any Electronic Delivery Rules Adopted by the Securities and Exchange 
Commission, Securities Exchange Act of 1934, Release No. 78589 
(August 16, 2016), 81 FR 56717 (August 22, 2016) (SR-NYSE-2016-55).
    \4\ Notice of Designation of a Longer Period for Commission 
Action on Proposed Rule Change Adopting Maximum Fees Member 
Organizations May Charge in Connection with the Distribution of 
Investment Company Shareholder Reports Pursuant to Any Electronic 
Delivery Rules Adopted by the Securities and Exchange Commission, 
Securities Exchange Act of 1934, Release No. 79051 (October 5, 
2016), 81 FR 70449 (October 12, 2016).
    \5\ Order Granting Approval of Proposed Rule Change Adopting 
Maximum Fees Member Organizations May Charge in Connection with the 
Distribution of Investment Company Shareholder Reports Pursuant to 
Any Electronic Delivery Rules Adopted by the Securities and Exchange 
Commission, Securities Exchange Act of 1934, Release No. 79355 
(November 18, 2016).
---------------------------------------------------------------------------

    Pursuant to Commission Rule of Practice 431,\6\ the Commission is

[[Page 85656]]

reviewing the delegated action and the November 18, 2016 order is 
stayed.
---------------------------------------------------------------------------

    \6\ 17 CFR 201.431.
---------------------------------------------------------------------------

    Accordingly, it is ordered, pursuant to Rule of Practice 431, that 
by December 7, 2016, any party or other person may file any additional 
statement.
    It is further ordered that the November 18, 2016 order approving 
the proposed rule change (SR-NYSE-2016-55) shall remain stayed pending 
further order of the Commission.

    By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2016-28456 Filed 11-25-16; 8:45 am]
 BILLING CODE 8011-01-P
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