Sunshine Act Meeting, 14557-14558 [2017-05610]
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Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices
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Rule 19d–1(c)(2) under the Act,5 the
Exchange proposed to designate certain
specified rule violations as minor rule
violations, and requested that it be
relieved of the prompt reporting
requirements regarding such violations,
provided it gives notice of such
violations to the Commission on a
quarterly basis.
The Exchange proposes to include in
its MRVP the procedures and violations
currently included in Exchange Rule
1614 (‘‘Imposition of Fines for Minor
Rule Violations’’), which has been
incorporated by reference from the
International Securities Exchange’s rule
book.6 According to the Exchange’s
MRVP, under Rule 1614, the Exchange
may impose a fine (not to exceed
$2,500) on any Member, or person
associated with or employed by a
Member, for any rule listed in Rule
1614(d).7 The Exchange shall serve the
person against whom a fine is imposed
with a written statement setting forth
the rule or rules violated, the act or
omission constituting each such
violation, the fine imposed, and the date
by which such determination becomes
final or by which such determination
must be contested. If the person against
whom the fine is imposed pays the fine,
such payment shall be deemed to be a
waiver of such person’s right to a
disciplinary proceeding and any review
of the matter under the Exchange rules.
Any person against whom a fine is
imposed may contest the Exchange’s
determination by filing with the
Exchange a written answer, at which
point the matter shall become a
disciplinary proceeding.
The Exchange proposes that, as set
forth in Exchange Rule 1614(d),
violations of the following rules would
be appropriate for disposition under the
MRVP: Rule 412 (Position Limits); Rule
1403 (Focus Reports); Rule 1404
(Requests for Trade Data); Rule 723
(Price Improvement Mechanism for
Crossing Transactions); Rule 717 (Order
Entry); Rule 803 (Quotation Parameters);
Rule 805 (Execution of Orders in
Appointed Options); Rule 419
(Mandatory Systems Testing); Rule 1100
(Exercise of Options Contracts); Rule
sought an adjudication, including a hearing, or
otherwise exhausted his administrative remedies.
5 17 CFR 240.19d–1(c)(2).
6 The Exchange received its grant of registration
on January 29, 2016, which included approving the
rules that govern the Exchange. See Securities
Exchange Act Release No. 76998 (Jan. 29, 2016), 81
FR 6066 (Feb. 4, 2016).
7 While Rule 1614 allows the Exchange to
administer fines up to $5,000, the Exchange is only
seeking relief from the reporting requirements of
paragraph (c)(1) of Rule 19d–1 for fines
administered under Rule 1614(d) that do not exceed
$2,500.
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415 (Reports Related to Position Limits);
and Rule 804(e) (Continuous Quotes).
Upon the Commission’s declaration of
effectiveness of the MRVP, the Exchange
will provide to the Commission a
quarterly report for any actions taken on
minor rule violations under the MRVP.
The quarterly report will include: The
Exchange’s internal file number for the
case, the name of the individual and/or
organization, the nature of the violation,
the specific rule provision violated, the
sanction imposed, the number of times
the rule violation occurred, and the date
of the disposition.
The Exchange also proposes that,
going forward, to the extent that there
are any changes to the rules applicable
to the Exchange’s MRVP, the Exchange
requests that the Commission deem
such changes to be modifications to the
Exchange’s MRVP.
I. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the Exchange’s
proposed MRVP, including whether the
proposed MRVP 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. 4–707
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.
4–707. 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
MRVP that are filed with the
Commission, and all written
communications relating to the
proposed MRVP 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
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14557
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
proposed MRVP 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. 4–
707 and should be submitted on or
before April 11, 2017.
II. Date of Effectiveness of the Proposed
Minor Rule Violation Plan and Timing
for Commission Action
Pursuant to Section 19(d)(1) of the Act
and Rule 19d–1(c)(2) thereunder,8 after
April 11, 2017, the Commission may, by
order, declare the Exchange’s proposed
MRVP effective if the plan is consistent
with the public interest, the protection
of investors, or otherwise in furtherance
of the purposes of the Act. The
Commission in its order may restrict the
categories of violations to be designated
as minor rule violations and may
impose any other terms or conditions to
the proposed MRVP, File No. 4–707,
and to the period of its effectiveness,
which the Commission deems necessary
or appropriate in the public interest, for
the protection of investors or otherwise
in furtherance of the purposes of the
Act.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–05554 Filed 3–20–17; 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 will hold a closed meeting
on Thursday, March 23, 2017 at 11 a.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
8 15
9 17
U.S.C. 78s(d)(1); 17 CFR 240.19d–1(c)(2).
CFR 200.30–3(a)(44).
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Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices
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 Stein, 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: March 16, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017–05610 Filed 3–17–17; 11:15 am]
BILLING CODE 8011–01–P
[Release No. 34–80251; File No. SR–
PEARL–2017–11]
Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend MIAX PEARL
Rules 100, 404, 515, 529, 601 and the
Title Pages of Chapter VIII and Chapter
XI
mstockstill on DSK3G9T082PROD with NOTICES
March 15, 2017.
Pursuant to the provisions of 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 March 3, 2017, MIAX PEARL, LLC
(‘‘MIAX PEARL’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) a
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.
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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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
SECURITIES AND EXCHANGE
COMMISSION
1 15
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
make minor corrective changes to
Exchange Rules 100, 404.02(d), 515(f),
529(b)(2)(ii), 601(b), 601(b)(2), 601(b)(4),
601(b)(5), 601(c)(1), 601(c)(1)(ii),
601(c)(2), 601(c)(3), and the title pages
to Chapter VIII and Chapter XI.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.miaxoptions.com/rulefilings/pearl at MIAX PEARL’s principal
office, and at the Commission’s Public
Reference Room.
1. Purpose
The Exchange proposes to make
minor corrective changes to Exchange
Rule 100, Definitions; Rule 404, Series
of Option Contracts Open for Trading;
Rule 515, Execution of Orders; Rule 529,
Order Routing to Other Exchanges; Rule
601, Obligations of Market Maker
Authorized Traders; and the title pages
of Chapter VIII and Chapter XI. First, the
Exchange proposes to amend Exchange
Rule 100, Definitions, to correct a
typographical error in the last word of
the first sentence in the definition of
Priority Customer. Currently, the
definition reads, ‘‘[t]he term ‘Priority
Customer’ means a person or entity that
(i) is not a broker or dealer in securities,
and (ii) does not place more than 390
orders in listed options per day on
average during a calendar month for its
own beneficial accounts(s).’’ The word
accounts should not be plural in this
instance and instead should read,
‘‘account(s)’’. Therefore, the Exchange
proposes to amend this rule to replace
the word ‘‘accounts’’ with ‘‘account.’’
Second, the Exchange proposes to
amend Exchange Rule 404, Series of
Option Contracts Open for Trading,
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Interpretations and Policies .02, Short
Term Option Series Program, to correct
a typographical error in paragraph (d).
The fourth sentence in the paragraph
begins, ‘‘Market makers,’’ whereas
‘‘makers’’ should be capitalized.
Therefore, the Exchange proposes to
amend the rule to replace the term
‘‘Market makers,’’ with ‘‘Market
Makers.’’
Third, the Exchange proposes to
amend Exchange Rule 515(f) to make a
minor grammatical correction by
removing a superfluous word from the
last sentence which reads,
‘‘[u]nexecuted contracts remaining from
an ISO order will be immediately
canceled. ISO is an acronym for
Intermarket Sweep Order. Having the
word ‘‘order’’ follow ISO is unnecessary
and redundant. Therefore, the Exchange
proposes to amend the rule to remove
the word ‘‘order’’ from the sentence.
Fourth, the Exchange proposes to
amend Exchange Rule 529(b)(2)(ii) to
make a minor grammatical correction by
removing a superfluous word from the
first sentence which reads, ‘‘[t]he
System will route ISO orders
representing Eligible Orders to away
markets disseminating prices better than
the Exchange’s disseminated market.’’
ISO is an acronym for Intermarket
Sweep Order. Having the word ‘‘order’’
follow ISO is unnecessary and
redundant. Therefore, the Exchange
proposes to amend the rule to remove
the word ‘‘order’’ from the sentence.
Additionally, the Exchange proposes to
add an ‘‘s’’ to the end of ‘‘ISO’’ to
indicate that the reference is not for a
singular order.
Fifth, the Exchange proposes to
amend Exchange Rule 601(b), 601(b)(2),
601(b)(4), 601(b)(5), 601(c)(1),
601(c)(1)(ii), 601(c)(2), and 601(c)(3), to
make minor grammatical corrections.
The Exchange proposes to replace the
indefinite article ‘‘a’’ in the phrase ‘‘a
MMAT’’ with the indefinite article ‘‘an’’
to improve the readability and precision
of the rule.
Sixth, the Exchange proposes to
amend the title page of Chapter VIII,
Records, Reports and Audits, to correct
a minor typographical error. The fourth
sentence contains the number 2 whereas
it should read ‘‘MIAX PEARL’’ instead.
Currently, the fourth sentence reads,
‘‘[s]olely by way of example, and not in
limitation or exhaustion: the defined
term ‘‘Exchange’’ in the Chapter VIII
Rules shall be read to refer to MIAX
PEARL; the defined term ‘‘Rule’’ in the
Chapter VIII Rules shall be read to refer
to the 2 Rule; [. . .].’’ Therefore, the
Exchange proposes to amend the Rule to
replace the number 2 with the words
‘‘MIAX PEARL.’’
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]]>Agencies
[Federal Register Volume 82, Number 53 (Tuesday, March 21, 2017)]
[Notices]
[Pages 14557-14558]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-05610]
-----------------------------------------------------------------------
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, March
23, 2017 at 11 a.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
[[Page 14558]]
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 Stein, 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: March 16, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017-05610 Filed 3-17-17; 11:15 am]
BILLING CODE 8011-01-P
