Securities Exchange Act of 1934; Order Granting Petitions for Review and Scheduling Filing of Statements, 9561-9562 [2018-04512]

Download as PDF Federal Register / Vol. 83, No. 44 / Tuesday, March 6, 2018 / Notices II. Docketed Proceeding(s) 1. Docket No(s).: CP2017–262; Filing Title: USPS Notice of Change in Prices Pursuant to Amendment to Priority Mail Contract 340; Filing Acceptance Date: February 28, 2018; Filing Authority: 39 CFR 3015.5; Public Representative: Timothy J. Schwuchow; Comments Due: March 8, 2018. 2. Docket No(s).: MC2018–127 and CP2018–173; Filing Title: USPS Request to Add Priority Mail & First-Class Package Service Contract 76 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: February 28, 2018; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Timothy J. Schwuchow; Comments Due: March 8, 2018. This Notice will be published in the Federal Register. Stacy L. Ruble, Secretary. [FR Doc. 2018–04541 Filed 3–5–18; 8:45 am] POSTAL SERVICE Product Change—Priority Mail and First-Class Package Service Negotiated Service Agreement ACTION: Postal ServiceTM. Notice. The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: DATES: Date of required notice: March 6, 2018. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on February 28, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail & First-Class Package Service Contract 76 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–127, CP2018–173. SUPPLEMENTARY INFORMATION: sradovich on DSK3GMQ082PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings [Release No. 34–82794/March 1, 2018] Notice is hereby given, pursuant to the provisions of the Government in Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission Investor Advisory Committee will hold a meeting on Thursday, March 8, 2018 at 9:30 a.m. (ET). TIME AND DATE: The meeting will be held in Multi-Purpose Room LL–006 at the Commission’s headquarters, 100 F Street NE, Washington, DC 20549. PLACE: This meeting will begin at 9:30 a.m. (ET) and will be open to the public. Seating will be on a first-come, firstserved basis. Doors will open at 9:00 a.m. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s website at www.sec.gov. STATUS: On February 7, 2018, the Commission issued notice of the Committee meeting (Release No. 33–10456), indicating that the meeting is open to the public (except during that portion of the meeting reserved for an administrative work session during lunch), and inviting the public to submit written comments to the Committee. This Sunshine Act notice is being issued because a quorum of the Commission may attend the meeting. The agenda for the meeting includes: Remarks from Commissioners; a discussion of regulatory approaches to combat retail investor fraud; a discussion regarding financial support for law school clinics that support investors (which may include a recommendation of the Committee as a whole); a discussion regarding dualclass share structures (which may include a recommendation of the Investor as Owner Subcommittee); a discussion regarding efforts to combat the financial exploitation of vulnerable adults; subcommittee reports; and a nonpublic administrative work session during lunch. MATTERS TO BE CONSIDERED: BILLING CODE 7710–FW–P AGENCY: SECURITIES AND EXCHANGE COMMISSION CONTACT PERSON FOR MORE INFORMATION: 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. Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. Dated: March 1, 2018. Lynn M. Powalski, Deputy Secretary. [FR Doc. 2018–04469 Filed 3–5–18; 8:45 am] [FR Doc. 2018–04606 Filed 3–2–18; 11:15 am] BILLING CODE 7710–12–P BILLING CODE 8011–01–P VerDate Sep<11>2014 22:59 Mar 05, 2018 Jkt 244001 9561 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 Securities Exchange Act of 1934; Order Granting Petitions for Review and Scheduling Filing of Statements In the Matter of the Cboe BZX Exchange, Inc. For an Order Granting the Approval of Proposed Rule Change to Introduce Cboe Market Close, a Closing Match Process for Non-BZX Listed Securities under New Exchange Rule 11.28 (File No. SR–BatsBZX– 2017–34) This matter comes before the Securities and Exchange Commission (‘‘Commission’’) on petition to review the approval, pursuant to delegated authority, of the Bats BZX Exchange, Inc. (now known as Cboe BZX Exchange, Inc.) (‘‘BZX’’ or ‘‘Exchange’’) proposed rule change to adopt Cboe Market Close, a closing match process for non-BZX Listed Securities. On May 16, 2017, the Commission issued a notice of filing of the proposed rule change filed with the Commission pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 2 thereunder.3 On July 3, 2017, a longer time period was designated within which to act on the proposed rule change.4 On August 18, 2017, proceedings were instituted under Section 19(b)(2)(B) of the Exchange Act 5 to determine whether to approve or disapprove the proposed rule change.6 On November 17, 2017, pursuant to Section 19(b)(2) of the Exchange Act,7 a longer period was designated for Commission action on proceedings to determine whether to approve or disapprove the proposed rule change.8 On December 1, 2017, the Exchange filed Amendment No. 1 to the proposed rule change, renaming ‘‘Bats Market Close’’ as ‘‘Cboe Market Close.’’ On January 17, 2018, after consideration of the record for the proposed rule change, the Division of Trading and Markets (‘‘Division’’), pursuant to delegated authority,9 approved the proposed rule 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Exchange Act Release No. 80683, 82 FR 23320 (May, 22 2017). 4 See Exchange Act Release No. 81072, 82 FR 31792 (July 10, 2017). 5 15 U.S.C. 78s(b)(2)(B). 6 See Exchange Act Release No. 81437, 82 FR 40202 (Aug. 24, 2017). 7 15 U.S.C. 78s(b)(2). 8 See Exchange Act Release No. 82108, 82 FR 55894 (Nov. 24, 2017). 9 17 CFR 200.30 3(a)(12). 2 17 E:\FR\FM\06MRN1.SGM 06MRN1 9562 Federal Register / Vol. 83, No. 44 / Tuesday, March 6, 2018 / Notices change, as modified by Amendment No. 1 (‘‘Approval Order’’).10 SECURITIES AND EXCHANGE COMMISSION On January 31, 2018, pursuant to Commission Rule of Practice 430,11 NYSE Group, Inc. (‘‘NYSE’’) and The Nasdaq Stock Market LLC (‘‘Nasdaq’’) each filed petitions for review of the Approval Order. Pursuant to Commission Rule of Practice 431(e), the Approval Order is stayed by the filing with the Commission of a notice of intention to petition for review.12 Pursuant to Rule 431 of the Rules of Practice,13 the petitions for review of the Approval Order of NYSE and Nasdaq are granted.14 Further, the Commission hereby establishes that any party to the action or other person may file a written statement in support of or in opposition to the Approval Order on or before March 22, 2018. [Release No. 34–82793; File No. SR–OCC– 2018–004] For the reasons stated above, it is hereby: Ordered that the petitions of NYSE and Nasdaq for review of the Division’s action to approve the proposed rule change by delegated authority be granted; and It is further ordered that any party or other person may file a statement in support of or in opposition to the action made pursuant to delegated authority on or before March 22, 2018. It is further ordered that the January 17, 2018 order approving the proposed rule change, as modified by Amendment No. 1 (File No. SR–BatsBZX–2017–34), shall remain stayed pending further order by the Commission. By the Commission. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–04512 Filed 3–5–18; 8:45 am] sradovich on DSK3GMQ082PROD with NOTICES I. Introduction On January 19, 2018, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change, File No. SR– OCC–2018–004, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder.2 The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register on February 2, 2018.4 Under Section 19(b)(3)(C) of the Act,5 the Commission is hereby: (i) Temporarily suspending File No. SR–OCC–2018–004; and (ii) instituting proceedings to determine whether to approve or disapprove File No. SR–OCC–2018–004. II. Description of the Proposed Rule Change The proposed rule change by OCC would revise OCC’s Schedule of Fees effective March 1, 2018 to implement an increase in clearing fees in accordance with OCC’s Fee Policy,6 which was U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 Securities Exchange Act Release No. 82596 (Jan. 30, 2018), 83 FR 4944 (Feb. 2, 2018) (SR–OCC– 2018–004) (‘‘Notice’’). 5 15 U.S.C. 78s(b)(3)(C). 6 See Notice at 4944–45. OCC also filed a proposed rule change with the Commission to revise its Fee Policy to provide that proposed fee changes are required to be implemented no sooner than thirty (30) days from the date of filing of the proposed rule change concerning such fee change (as opposed to sixty (60) days). See Securities Exchange Act Release No. 82576 (Jan. 24, 2018), 83 FR 4324 (Jan. 30, 2018) (SR–OCC–2018–001). OCC submitted the proposed changes to its Fee Policy to the Commodity Futures Trading Commission (‘‘CFTC’’) under CFTC Regulation 40.6. OCC stated that implementation of the proposed fee change on March 1, 2018 would require either: (i) Commission 2 17 10 See Exchange Act Release No. 82522, 83 FR 3205 (Jan. 23, 2018). 11 17 CFR 201.430. 12 17 CFR 201.431(e). 13 17 CFR 201.431. 14 On February 2, 2018, NYSE filed a corrected petition for review that the Commission will consider in lieu of the version filed on January 31, 2018. 22:59 Mar 05, 2018 February 28, 2018. 1 15 BILLING CODE 8011–01–P VerDate Sep<11>2014 Self-Regulatory Organizations; The Options Clearing Corporation; Suspension of and Order Instituting Proceedings To Determine Whether To Approve or Disapprove the Proposed Rule Change To Revise The Options Clearing Corporation’s Schedule of Fees Jkt 244001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 adopted as part of its plan to raise additional capital (‘‘Capital Plan’’).7 As stated in the Notice, OCC filed the proposed rule change to revise OCC’s Schedule of Fees in accordance with its Fee Policy and set fees at a level designed to cover OCC’s operating expenses and maintain a Business Risk Buffer of 25%.8 OCC stated that it recently reviewed its current Schedule of Fees 9 against projected revenues and expenses for 2018 in accordance with its Fee Policy to determine whether the Schedule of Fees was sufficient to cover OCC’s anticipated operating expenses and achieve the Business Risk Buffer. OCC stated that it analyzed: (i) Expenses budgeted for 2018; (ii) projected other revenue streams for 2018; (iii) projected volume mix; and (iv) projected volume growth for 2018. After this review, OCC determined that the current fee schedule is set at a level that would be insufficient to ensure that OCC achieves its Business Risk Buffer as required under the Fee Policy.10 OCC stated that it arrived at the proposed fee schedule below by determining the figures that provide the best opportunity for OCC to achieve coverage of its anticipated operating expenses plus a Business Risk Buffer. Accordingly, OCC proposed the Schedule of Fees set forth in the table below: approval of SR–OCC–2018–001 and certification of the Fee Policy changes in SR–OCC–2018–001 under CFTC Regulation 40.6 or (ii) an exception to the 60day notice period provision in the Fee Policy authorized by OCC’s Board of Directors and the holders of all of the outstanding Class B Common Stock of OCC. 7 See Securities Exchange Act Release No. 77112 (February 11, 2016), 81 FR 8294 (February 18, 2016) (SR–OCC–2015–02) (‘‘Approval Order’’). The Capital Plan was later subject to judicial review by the U.S. Court of Appeals for the District of Columbia Circuit (‘‘D.C. Circuit’’), which remanded the Approval Order to the Commission to further analyze whether the Capital Plan is consistent with the Act. Susquehanna Int’l Grp., LLP v. SEC, 866 F.3d 442 (D.C. Cir. 2017). The Commission’s review of the Plan on remand is ongoing, and the Capital Plan remains in effect during this ongoing review. 8 See Notice at 4944–45. The Business Risk Buffer is an amount of fee revenue that OCC targets above its anticipated operating expenses to allow for unexpected fluctuations in operating expenses, business capital needs, and regulatory capital requirements. 9 OCC previously revised its Schedule of Fees effective December 1, 2016, to implement a fee increase in accordance with the Fee Policy. See Securities Exchange Act Release No. 79028 (October 3, 2016), 81 FR 69885 (October 7, 2016) (SR–OCC– 2016–012). 10 OCC provided a summary of its analysis in a confidential Exhibit 3 to the filing. E:\FR\FM\06MRN1.SGM 06MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 83, Number 44 (Tuesday, March 6, 2018)]
[Notices]
[Pages 9561-9562]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04512]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82794/March 1, 2018]


Securities Exchange Act of 1934; Order Granting Petitions for 
Review and Scheduling Filing of Statements

    In the Matter of the Cboe BZX Exchange, Inc.
    For an Order Granting the Approval of Proposed Rule Change to 
Introduce Cboe Market Close, a Closing Match Process for Non-BZX 
Listed Securities under New Exchange Rule 11.28 (File No. SR-
BatsBZX-2017-34)


    This matter comes before the Securities and Exchange Commission 
(``Commission'') on petition to review the approval, pursuant to 
delegated authority, of the Bats BZX Exchange, Inc. (now known as Cboe 
BZX Exchange, Inc.) (``BZX'' or ``Exchange'') proposed rule change to 
adopt Cboe Market Close, a closing match process for non-BZX Listed 
Securities.
    On May 16, 2017, the Commission issued a notice of filing of the 
proposed rule change filed with the Commission pursuant to Section 
19(b)(1) of the Securities Exchange Act of 1934 (``Exchange Act'') \1\ 
and Rule 19b-4 \2\ thereunder.\3\ On July 3, 2017, a longer time period 
was designated within which to act on the proposed rule change.\4\ On 
August 18, 2017, proceedings were instituted under Section 19(b)(2)(B) 
of the Exchange Act \5\ to determine whether to approve or disapprove 
the proposed rule change.\6\ On November 17, 2017, pursuant to Section 
19(b)(2) of the Exchange Act,\7\ a longer period was designated for 
Commission action on proceedings to determine whether to approve or 
disapprove the proposed rule change.\8\ On December 1, 2017, the 
Exchange filed Amendment No. 1 to the proposed rule change, renaming 
``Bats Market Close'' as ``Cboe Market Close.'' On January 17, 2018, 
after consideration of the record for the proposed rule change, the 
Division of Trading and Markets (``Division''), pursuant to delegated 
authority,\9\ approved the proposed rule

[[Page 9562]]

change, as modified by Amendment No. 1 (``Approval Order'').\10\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Exchange Act Release No. 80683, 82 FR 23320 (May, 22 
2017).
    \4\ See Exchange Act Release No. 81072, 82 FR 31792 (July 10, 
2017).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Exchange Act Release No. 81437, 82 FR 40202 (Aug. 24, 
2017).
    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See Exchange Act Release No. 82108, 82 FR 55894 (Nov. 24, 
2017).
    \9\ 17 CFR 200.30 3(a)(12).
    \10\ See Exchange Act Release No. 82522, 83 FR 3205 (Jan. 23, 
2018).
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    On January 31, 2018, pursuant to Commission Rule of Practice 
430,\11\ NYSE Group, Inc. (``NYSE'') and The Nasdaq Stock Market LLC 
(``Nasdaq'') each filed petitions for review of the Approval Order. 
Pursuant to Commission Rule of Practice 431(e), the Approval Order is 
stayed by the filing with the Commission of a notice of intention to 
petition for review.\12\ Pursuant to Rule 431 of the Rules of 
Practice,\13\ the petitions for review of the Approval Order of NYSE 
and Nasdaq are granted.\14\ Further, the Commission hereby establishes 
that any party to the action or other person may file a written 
statement in support of or in opposition to the Approval Order on or 
before March 22, 2018.
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    \11\ 17 CFR 201.430.
    \12\ 17 CFR 201.431(e).
    \13\ 17 CFR 201.431.
    \14\ On February 2, 2018, NYSE filed a corrected petition for 
review that the Commission will consider in lieu of the version 
filed on January 31, 2018.
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    For the reasons stated above, it is hereby:
    Ordered that the petitions of NYSE and Nasdaq for review of the 
Division's action to approve the proposed rule change by delegated 
authority be granted; and
    It is further ordered that any party or other person may file a 
statement in support of or in opposition to the action made pursuant to 
delegated authority on or before March 22, 2018.
    It is further ordered that the January 17, 2018 order approving the 
proposed rule change, as modified by Amendment No. 1 (File No. SR-
BatsBZX-2017-34), shall remain stayed pending further order by the 
Commission.

    By the Commission.
Eduardo A. Aleman,
 Assistant Secretary.
[FR Doc. 2018-04512 Filed 3-5-18; 8:45 am]
 BILLING CODE 8011-01-P

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