Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change To Amend the Complimentary Products and Services Available to Certain Eligible New Listings Pursuant to Section 907.00 of the Exchange's Listed Company Manual, 3035-3037 [2018-00977]
Download as PDF
<![CDATA[
Federal Register / Vol. 83, No. 14 / Monday, January 22, 2018 / Notices
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
MSAC adjudicates classification
appeals, job-grading appeals, FLSA
Claims, compensation and leave Claims,
and declination of reasonable offer
appeals, as well as the settling of
disputed Claims for unpaid
compensation due deceased Federal
employees. This adjudicative function
provides Federal employees
administrative due process rights to
challenge compensation and related
agency decisions without having to seek
redress in Federal courts. These
decisions are also a critical resource for
agency HR offices in making their own
classification, pay, and FLSA
determinations.
Analysis
Agency: Merit System Accountability
and Compliance, Office of Personnel
Management.
Title: Standard Form 1153, Claim for
Unpaid Compensation of Deceased
Civilian Employee.
OMB Number: 3206–0234.
Frequency: Annually.
Affected Public: Federal Employees
and Retirees.
Number of Respondents: 3,000.
Estimated Time per Respondent: 15
minutes.
Total Burden Hours: 750 hours.
Office of Personnel Management.
Kathleen M. McGettigan,
Acting Director.
[FR Doc. 2018–01051 Filed 1–19–18; 8:45 am]
BILLING CODE 6325–58–P
OFFICE OF PERSONNEL
MANAGEMENT
Submission for Review:
Representative Payee Survey, RI 38–
115
Office of Personnel
Management.
ACTION: 60-Day notice and request for
comments.
AGENCY:
The Retirement Services,
Office of Personnel Management (OPM)
offers the general public and other
Federal agencies the opportunity to
comment on a revised information
collection request (ICR), Representative
Payee Survey. As required by the
Paperwork Reduction Act of 1995 (Pub.
L. 104–13) as amended by the ClingerCohen Act (Pub. L. 104–106), OPM is
soliciting comments for this collection.
DATES: Comments are encouraged and
will be accepted until March 23, 2018.
ethrower on DSK3G9T082PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
19:00 Jan 19, 2018
Jkt 244001
This process is conducted in accordance
with 5 CFR 1320.1.
ADDRESSES: Interested persons are
invited to submit written comments on
the proposed information collection to
the Office of Personnel Management,
Retirement Services, 1900 E Street NW,
Room 2347E, Washington, DC 20415,
Attention: Alberta Butler, or sent by
email to Alberta.Butler@opm.gov.
FOR FURTHER INFORMATION CONTACT: A
copy of this ICR with applicable
supporting documentation, may be
obtained by contacting the Retirement
Services Publications Team, Office of
Personnel Management, 1900 E Street
NW, Room 3316–L, Washington, DC
20415, Attention: Cyrus S. Benson, or
sent by email to Cyrus.Benson@
opm.gov, by phone to 202–606–4808 or
faxed to (202) 606–0910.
SUPPLEMENTARY INFORMATION: The
Representative Payee Survey is used to
collect information about how the
benefits paid to a representative payee
have been used or conserved for the
benefit of the incompetent annuitant.
The Office of Management and Budget
is particularly interested in comments
that:
1. Evaluate whether the proposed
collection of information is necessary
for the proper performance of functions
of OPM, including whether the
information will have practical utility;
2. Evaluate the accuracy of OPM’s
estimate of the burden of the proposed
collection of information, including the
validity of the methodology and
assumptions used;
3. Enhance the quality, utility, and
clarity of the information to be
collected; and
4. Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
Form RI 38–115, Representative Payee
Survey, is used to collect information
about how the benefits paid to a
representative payee have been used or
conserved for the benefit of the
incompetent annuitant.
Analysis
Agency: Retirement Operations,
Retirement Services, Office of Personnel
Management.
Title: Representative Payee Survey.
OMB Number: 3206–0208.
Frequency: Annually.
Affected Public: Individuals or
Households.
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
3035
Number of Respondents: 11,000.
Estimated Time per Respondent: 20
minutes.
Total Burden Hours: 3,667.
Office of Personnel Management.
Kathleen M. McGettigan,
Acting Director.
[FR Doc. 2018–01052 Filed 1–19–18; 8:45 am]
BILLING CODE 6325–38–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82506; File No. SR–NYSE–
2018–01]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing of Proposed Rule Change To
Amend the Complimentary Products
and Services Available to Certain
Eligible New Listings Pursuant to
Section 907.00 of the Exchange’s
Listed Company Manual
January 16, 2018.
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 January
3, 2018, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. 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
The Exchange proposes to amend
907.00 of the Exchange’s Listed
Company Manual (the ‘‘Manual’’) to
provide that companies initially listed
on or after April 1, 2018 will no longer
be eligible to receive corporate
governance tools under the Exchange’s
services offering. The proposed rule
change is available on the Exchange’s
website at www.nyse.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
self-regulatory organization included
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
E:\FR\FM\22JAN1.SGM
22JAN1
3036
Federal Register / Vol. 83, No. 14 / Monday, January 22, 2018 / Notices
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 those 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 parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
ethrower on DSK3G9T082PROD with NOTICES
The Exchange proposes to amend
Section 907.00 of the Manual to provide
that companies initially listed on or
after April 1, 2018 will no longer be
eligible to receive corporate governance
tools under the Exchange’s services
offering.
Currently, all Eligible New Listings 4
are entitled to receive complimentary
access to corporate governance tools for
a period of 24 calendar months with a
commercial value of approximately
$50,000).5 In the Exchange’s experience,
companies that qualify as Eligible New
Listings have generally not been
interested in utilizing the corporate
governance tools available as part of the
Exchange’s services offering.
Consequently, the Exchange proposes to
amend Section 907.00 to discontinue its
provision of corporate governance tools.
Eligible New Listings with an initial
listing date before April 1, 2018, will
continue to be eligible to avail
themselves of complimentary corporate
governance tools on the same terms as
such services are currently offered.
Companies whose initial listing date is
on or after April 1, 2018 will no longer
4 For the purposes of Section 907.00, the term
‘‘Eligible New Listing’’ means (i) any U.S. company
that lists common stock on the Exchange for the
first time and any non-U.S. company that lists an
equity security on the Exchange under Section
102.01 or 103.00 of the Manual for the first time,
regardless of whether such U.S. or non-U.S.
company conducts an offering and (ii) any U.S. or
non-U.S. company emerging from a bankruptcy,
spinoff (where a company lists new shares in the
absence of a public offering), and carve-out (where
a company carves out a business line or division,
which then conducts a separate initial public
offering).
5 The period of complimentary products and
services provided to Eligible New Listing
Companies begins on the date of listing on the
Exchange. Notwithstanding the foregoing, however,
if an Eligible New Listing begins to use a particular
product or service provided for under Section
907.00 within 30 days of its initial listing date, the
complimentary period will begin on the date of first
use. The Exchange’s current offering of corporate
governance services have a commercial value of
approximately $50,000 on an annual basis.
VerDate Sep<11>2014
19:00 Jan 19, 2018
Jkt 244001
be eligible to receive any complimentary
corporate governance tools.6
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) 7 of the Act, in general, and
furthers the objectives of Section 6(b)(5)
of the Act,8 in particular in that it is
designed to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest. The
Exchange believes that the proposed
amendment is not unfairly
discriminatory, as all companies listed
on or after April 1, 2018 will continue
to be eligible to avail themselves of the
same services offering with the
exception of the corporate governance
tools offering which will be
discontinued. It is not unfairly
discriminatory to continue to offer
corporate governance tools to
companies listed prior to April 1, 2018
on the same terms as they are currently
offered, as that benefit was part of the
services offering that was available at
the time of those companies’ initial
listing and may have had some
influence over their listing decisions.
The Exchange further believes that the
proposed rule change is consistent with
Section 6(b)(4) of the Act.9 In particular,
the Exchange has found that companies
that qualify as Eligible New Listings
have generally not been interested in
utilizing the corporate governance tools
available as part of the Exchange’s
services offerings and, therefore, the
Exchange believes it is reasonable to
eliminate such offering.
B. Self-Regulatory Organization’s
Statement on 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 purpose of the Act. The proposed
rule change does not impose any burden
on competition, as all companies whose
6 This rule filing is subject to Commission
approval. If the Commission does not approve this
rule filing prior to April 1, 2018, the Exchange will
amend this rule filing to propose that the
complimentary corporate governance services
offering provided for in Section 907.00 of the
Manual will be terminated as of a later date.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
9 15 U.S.C. 78f(b)(4).
PO 00000
Frm 00079
Fmt 4703
Sfmt 4703
initial listing occurs on or after April 1,
2018 will be eligible for an identical
services offering with the exception of
the discontinued corporate governance
tools. In addition, all companies whole
[sic] initial listing occurs prior to April
1, 2018 will continue to be eligible for
corporate governance services on the
same terms as they are currently offered.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
Register or up to 90 days (i) as the
Commission may designate if it finds
such longer period to be appropriate
and publishes its reasons for so finding
or (ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve or disapprove
the proposed rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be 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–
NYSE–2018–01 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–NYSE–2018–01. 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 website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
E:\FR\FM\22JAN1.SGM
22JAN1
Federal Register / Vol. 83, No. 14 / Monday, January 22, 2018 / Notices
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 website 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.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSE–2018–01, and
should be submitted on or before
February 12, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–00977 Filed 1–19–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82505; File No. SR–Phlx–
2018–06]
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Relocate Price
Improvement XL Rule
ethrower on DSK3G9T082PROD with NOTICES
January 16, 2018.
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 January 8,
2018, Nasdaq PHLX LLC (‘‘Phlx’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
19:00 Jan 19, 2018
Jkt 244001
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
The Exchange proposes to relocate
Rule 1080(n) (‘‘Price Improvement XL’’
or ‘‘PIXL’’), make conforming crossreference changes and minor corrections
throughout the Exchange’s rulebook.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqphlx.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 relocate
Exchange Rule 1080(n) to Rule 1087,
which is currently reserved. This
proposal seeks to better organize the
rules to avoid lengthy rules, specifically
Rule 1080, to make the rule easier to
read. Also, to locate the PIXL auction
rule similar to the auction rules of its
affiliated options exchanges, as a
separate rule.3 The Exchange also
proposes to amend cross-references to
current Rule 1080(n) to new Rule 1087.4
Finally, the Exchange will make minor
corrections to Rule 1000(b)(14) to
update incorrect cross-references to
Rules 1064 and 1080.07 to their current
locations.5 The Exchange notes that the
3 See
NOM and BX Options Rules at Chapter VI.
the Exchange will amend cross
references in Rules 1000, 1080, and 1098.
5 The Exchange will insert the word
‘‘Commentary’’ after the citation to Rule 1064.02, to
properly cite the section of the rule.
Moreover, the cite to Rule 1080.07 will be
updated to Rule 1098, as rule 1080.07 was relocated
to existing Rule 1098 in 2016. Securities Exchange
Act Release No. 78001 (June 7, 2016), 81 FR 38246
(June 13, 2016) (SR–Phlx–2016–63).
Finally, the call ‘‘(ii),’’ at the end of Rule
1000(b)(14) will be removed, as it was not part of
4 Specifically,
PO 00000
Frm 00080
Fmt 4703
Sfmt 4703
3037
changes proposed herein are nonsubstantive rule changes, they merely
seek to conform the rule text structure
to that of other affiliated markets.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,6 in general, and furthers the
objectives of Section 6(b)(5) of the Act,7
in particular, in that it is designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general to protect
investors and the public interest, by
improving the way its rulebook is
organized, making it easier to read, to
align it closer to the rules of its sister
exchanges and, particularly, to help
market participants better understand
the rules of the Exchange.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange’s proposal does not impose an
undue burden on competition, rather
the proposal seeks to make nonsubstantive rule changes to relocate the
rule and update cross references to Rule
1080(n) as well as other incorrect crossreferences.
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 8 and
the most recent change approved for this rule.
Securities Exchange Act Release No. 77449 (March
25, 2016), 81 FR 18665 (March 31, 2016) (SR–Phlx–
2016–10).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
8 15 U.S.C. 78s(b)(3)(A)(iii).
E:\FR\FM\22JAN1.SGM
22JAN1
]]>Agencies
[Federal Register Volume 83, Number 14 (Monday, January 22, 2018)]
[Notices]
[Pages 3035-3037]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-00977]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82506; File No. SR-NYSE-2018-01]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change To Amend the Complimentary
Products and Services Available to Certain Eligible New Listings
Pursuant to Section 907.00 of the Exchange's Listed Company Manual
January 16, 2018.
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 January 3, 2018, New York Stock Exchange LLC (``NYSE''
or the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III 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).
\2\ 15 U.S.C. 78a.
\3\ 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 907.00 of the Exchange's Listed
Company Manual (the ``Manual'') to provide that companies initially
listed on or after April 1, 2018 will no longer be eligible to receive
corporate governance tools under the Exchange's services offering. The
proposed rule change is available on the Exchange's website at
www.nyse.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 self-regulatory organization
included
[[Page 3036]]
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 those 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 parts of
such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Section 907.00 of the Manual to
provide that companies initially listed on or after April 1, 2018 will
no longer be eligible to receive corporate governance tools under the
Exchange's services offering.
Currently, all Eligible New Listings \4\ are entitled to receive
complimentary access to corporate governance tools for a period of 24
calendar months with a commercial value of approximately $50,000).\5\
In the Exchange's experience, companies that qualify as Eligible New
Listings have generally not been interested in utilizing the corporate
governance tools available as part of the Exchange's services offering.
Consequently, the Exchange proposes to amend Section 907.00 to
discontinue its provision of corporate governance tools. Eligible New
Listings with an initial listing date before April 1, 2018, will
continue to be eligible to avail themselves of complimentary corporate
governance tools on the same terms as such services are currently
offered. Companies whose initial listing date is on or after April 1,
2018 will no longer be eligible to receive any complimentary corporate
governance tools.\6\
---------------------------------------------------------------------------
\4\ For the purposes of Section 907.00, the term ``Eligible New
Listing'' means (i) any U.S. company that lists common stock on the
Exchange for the first time and any non-U.S. company that lists an
equity security on the Exchange under Section 102.01 or 103.00 of
the Manual for the first time, regardless of whether such U.S. or
non-U.S. company conducts an offering and (ii) any U.S. or non-U.S.
company emerging from a bankruptcy, spinoff (where a company lists
new shares in the absence of a public offering), and carve-out
(where a company carves out a business line or division, which then
conducts a separate initial public offering).
\5\ The period of complimentary products and services provided
to Eligible New Listing Companies begins on the date of listing on
the Exchange. Notwithstanding the foregoing, however, if an Eligible
New Listing begins to use a particular product or service provided
for under Section 907.00 within 30 days of its initial listing date,
the complimentary period will begin on the date of first use. The
Exchange's current offering of corporate governance services have a
commercial value of approximately $50,000 on an annual basis.
\6\ This rule filing is subject to Commission approval. If the
Commission does not approve this rule filing prior to April 1, 2018,
the Exchange will amend this rule filing to propose that the
complimentary corporate governance services offering provided for in
Section 907.00 of the Manual will be terminated as of a later date.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) \7\ of the Act, in general, and furthers the
objectives of Section 6(b)(5) of the Act,\8\ in particular in that it
is designed to promote just and equitable principles of trade, to
foster cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
The Exchange believes that the proposed amendment is not unfairly
discriminatory, as all companies listed on or after April 1, 2018 will
continue to be eligible to avail themselves of the same services
offering with the exception of the corporate governance tools offering
which will be discontinued. It is not unfairly discriminatory to
continue to offer corporate governance tools to companies listed prior
to April 1, 2018 on the same terms as they are currently offered, as
that benefit was part of the services offering that was available at
the time of those companies' initial listing and may have had some
influence over their listing decisions. The Exchange further believes
that the proposed rule change is consistent with Section 6(b)(4) of the
Act.\9\ In particular, the Exchange has found that companies that
qualify as Eligible New Listings have generally not been interested in
utilizing the corporate governance tools available as part of the
Exchange's services offerings and, therefore, the Exchange believes it
is reasonable to eliminate such offering.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on 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 purpose of the Act. The proposed rule change does
not impose any burden on competition, as all companies whose initial
listing occurs on or after April 1, 2018 will be eligible for an
identical services offering with the exception of the discontinued
corporate governance tools. In addition, all companies whole [sic]
initial listing occurs prior to April 1, 2018 will continue to be
eligible for corporate governance services on the same terms as they
are currently offered.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of publication of this notice in the
Federal Register or up to 90 days (i) as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or (ii) as to which the self-regulatory
organization consents, the Commission will:
(A) By order approve or disapprove the proposed rule change, or
(B) institute proceedings to determine whether the proposed rule
change should be 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 [email protected]. Please include
File Number SR-NYSE-2018-01 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-NYSE-2018-01. 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 website (https://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent
[[Page 3037]]
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 website 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. Persons submitting comments are cautioned that we do
not redact or edit personal identifying information from comment
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NYSE-2018-01, and should be submitted on or before February 12, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-00977 Filed 1-19-18; 8:45 am]
BILLING CODE 8011-01-P
