Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify the Listing Requirements Related to Special Purpose Acquisition Companies To Reduce Round Lot Holders on Nasdaq Capital Market for Initial Listing From 300 to 150 and Eliminate Public Holders for Continued Listing From 300 to Zero, Require $5 Million in Net Tangible Assets for Initial and Continued Listing on Nasdaq Capital Market, and Impose a Deadline To Demonstrate Compliance With Initial Listing Requirements on All Nasdaq Markets Within 30 Days Following Each Business Combination, 15880-15881 [2018-07528]

Download as PDF 15880 Federal Register / Vol. 83, No. 71 / Thursday, April 12, 2018 / Notices is particularly interested in comments that: 1. Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; 2. Evaluate the accuracy of the agency’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. RI 38–115 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: Individual or Households. Number of Respondents: 11,000. Estimated Time per Respondent: 20 minutes. Total Burden Hours: 3,667. U.S. Office of Personnel Management. Jeff T.H. Pon, Director. [FR Doc. 2018–07607 Filed 4–11–18; 8:45 am] BILLING CODE 6325–38–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2018–142 and CP2018–203] New Postal Product Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning negotiated service agreements. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: April 17, 2018. sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 19:20 Apr 11, 2018 Jkt 244001 Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. ADDRESSES: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Docketed Proceeding(s) The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or removal of a negotiated service agreement from the market dominant or the competitive product list, or the modification of an existing product currently appearing on the market dominant or the competitive product list. Section II identifies the docket number(s) associated with each Postal Service request, the title of each Postal Service request, the request’s acceptance date, and the authority cited by the Postal Service for each request. For each request, the Commission appoints an officer of the Commission to represent the interests of the general public in the proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also establishes comment deadline(s) pertaining to each request. The public portions of the Postal Service’s request(s) can be accessed via the Commission’s website (https:// www.prc.gov). Non-public portions of the Postal Service’s request(s), if any, can be accessed through compliance with the requirements of 39 CFR 3007.40. The Commission invites comments on whether the Postal Service’s request(s) in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern market dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3010, and 39 CFR part 3020, subpart B. For request(s) that the Postal Service states concern competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3015, and 39 CFR part 3020, subpart B. Comment Frm 00097 Fmt 4703 Sfmt 4703 II. Docketed Proceeding(s) 1. Docket No(s).: MC2018–142 and CP2018–203; Filing Title: USPS Request to Add Priority Mail Contract 430 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: April 6, 2018; Filing Authority: 39 U.S.C. 3642 and 39 CFR 3020.30 et seq.; Public Representative: Curtis E. Kidd; Comments Due: April 17, 2018. This Notice will be published in the Federal Register. Stacy L. Ruble, Secretary. I. Introduction PO 00000 deadline(s) for each request appear in section II. [FR Doc. 2018–07620 Filed 4–11–18; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83010; File No. SR– NASDAQ–2017–087] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify the Listing Requirements Related to Special Purpose Acquisition Companies To Reduce Round Lot Holders on Nasdaq Capital Market for Initial Listing From 300 to 150 and Eliminate Public Holders for Continued Listing From 300 to Zero, Require $5 Million in Net Tangible Assets for Initial and Continued Listing on Nasdaq Capital Market, and Impose a Deadline To Demonstrate Compliance With Initial Listing Requirements on All Nasdaq Markets Within 30 Days Following Each Business Combination April 6, 2018. On September 20, 2017, The NASDAQ Stock Market LLC (‘‘Nasdaq’’ or ‘‘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 modify the listing requirements related to Special Purpose Acquisition Companies (‘‘SPAC’’) to reduce round lot holders on Nasdaq Capital Market for initial listing from 300 to 150 and eliminate the public holders required for continued listing from 300 to zero, require $5 million net tangible assets for initial and continued listing on Nasdaq 1 15 2 17 E:\FR\FM\12APN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 12APN1 Federal Register / Vol. 83, No. 71 / Thursday, April 12, 2018 / Notices sradovich on DSK3GMQ082PROD with NOTICES Capital Market, and impose a deadline to demonstrate compliance with initial listing requirements on all Nasdaq Markets to within 30 days following each business combination. The proposed rule change was published for comment in the Federal Register on October 11, 2017.3 In response, the Commission received six comments on the proposal.4 On November 22, 2017, the Commission extended the time period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change to January 9, 2018.5 The Commission issued an order instituting proceedings under Section 19(b)(2)(B) of the Act to determine whether to approve or disapprove the proposed rule change on January 9, 2018 (‘‘OIP’’).6 The Commission received three additional comments in response to the OIP, including a comment letter from Nasdaq.7 Section 19(b)(2) of the Act 8 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on October 11, 2017. April 9, 2018 is 180 3 See Securities Exchange Act Release No. 81816 (October 4, 2017), 82 FR 47269 (October 11, 2017) (‘‘Notice’’). 4 See Letters to Brent J. Fields, Secretary, Commission, from Jeffrey M. Solomon, Chief Executive Officer, Cowen and Company, LLC, dated October 19, 2017; Jeffrey P. Mahoney, General Counsel, Council of Institutional Investors, dated October 25, 2017; Sean Davy, Managing Director, Capital Markets Division, SIFMA, dated October 31, 2017; Akin Gump Strauss Hauer & Feld LLP, dated November 1, 2017; Steven Levine, Chief Executive Officer, EarlyBirdCapital, Inc., dated November 3, 2017; and Christian O. Nagler and David A. Curtiss, Kirkland & Ellis LLP, dated November 9, 2017. 5 See Securities Exchange Act Release No. 82142 (November 22, 2017), 82 FR 56293 (November 28, 2017). 6 See Securities Exchange Act Release No. 82478 (January 9, 2018), 83 FR 2278 (January 16, 2018). 7 See Letters to Brent J. Fields, Secretary, Commission, from Jeffrey P. Mahoney, General Counsel, Council of Institutional Investors, dated January 25, 2018; Paul D. Tropp, Freshfields Bruckhaus Deringer US LLP, dated January 30, 2018; and Arnold Golub, Deputy General Counsel, Nasdaq, dated February 23, 2018. 8 15 U.S.C. 78s(b)(2). VerDate Sep<11>2014 19:20 Apr 11, 2018 Jkt 244001 days from that date, and June 8, 2018 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the comment letters. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,9 designates June 8, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–NASDAQ–2017–087). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–07528 Filed 4–11–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83006; File No. SR–ISE– 2018–30] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend ISE Rules 700, 2008, and 2009 April 6, 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 March 29, 2018, Nasdaq ISE, LLC (‘‘ISE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘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 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 ISE Rules 700, Days and Hours of Business, at Section (c); 2008, Days and Hours of Business; and 2009, Terms of Index Option Contracts, Supplementary Material .07, Nonstandard Expirations Pilot Program. The text of the proposed rule change is available on the Exchange’s website at https://ise.cchwallstreet.com/, at the 9 Id. 10 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 15881 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this rule filing is to establish that transactions in expiring p.m.-settled broad-based index options, including Weekly Expirations and End of Month (‘‘EOM’’) options, may be effected on the Exchange only until 4:00 p.m. (Eastern Time) on the last trading day.3 The terms of p.m.-settled broadbased index options specify that their exercise settlement value is based on the index value derived from the closing prices of component stocks. Currently, ISE Rule 700(c) provides that broad-based index options may trade until 4:15 p.m. each business day. The Exchange now proposes to add language to Rule 700(c) to establish that on the last trading day transactions in expiring p.m.-settled broad-based index options may be effected on the Exchange between the hours of 9:30 a.m. (Eastern Time) and 4:00 p.m. (Eastern Time). The same new language is proposed to be added to Rules 2008, Trading Sessions, and 2009, Terms of Index Option Contracts, at Supplementary Material .07(d), Weekly Expirations and EOM Trading Hours. The proposed new language is substantively identical to language in Rule 24.9(e), Weekly Expirations and 3 The listing and trading of p.m.-settled options on broad-based indexes with nonstandard expiration dates, including Weekly Expirations and EOM options, has been approved by the Commission on a pilot basis for an initial period of twelve months expiring on February 1, 2019 (the ‘‘Nonstandard Expirations Pilot Program’’ or ‘‘Pilot Program’’). See Supplementary Material .07 of Rule 2009 and Securities Exchange Act Release No. 82612 (February 1, 2018), 83 FR 5470 (February 7, 2018) (SR–ISE–2017–111). To date, no Weekly Expirations or EOM options have been listed on the Exchange. E:\FR\FM\12APN1.SGM 12APN1

Agencies

[Federal Register Volume 83, Number 71 (Thursday, April 12, 2018)]
[Notices]
[Pages 15880-15881]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-07528]


=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83010; File No. SR-NASDAQ-2017-087]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Modify the Listing Requirements Related to 
Special Purpose Acquisition Companies To Reduce Round Lot Holders on 
Nasdaq Capital Market for Initial Listing From 300 to 150 and Eliminate 
Public Holders for Continued Listing From 300 to Zero, Require $5 
Million in Net Tangible Assets for Initial and Continued Listing on 
Nasdaq Capital Market, and Impose a Deadline To Demonstrate Compliance 
With Initial Listing Requirements on All Nasdaq Markets Within 30 Days 
Following Each Business Combination

April 6, 2018.
    On September 20, 2017, The NASDAQ Stock Market LLC (``Nasdaq'' or 
``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 modify the listing requirements related to 
Special Purpose Acquisition Companies (``SPAC'') to reduce round lot 
holders on Nasdaq Capital Market for initial listing from 300 to 150 
and eliminate the public holders required for continued listing from 
300 to zero, require $5 million net tangible assets for initial and 
continued listing on Nasdaq

[[Page 15881]]

Capital Market, and impose a deadline to demonstrate compliance with 
initial listing requirements on all Nasdaq Markets to within 30 days 
following each business combination. The proposed rule change was 
published for comment in the Federal Register on October 11, 2017.\3\ 
In response, the Commission received six comments on the proposal.\4\ 
On November 22, 2017, the Commission extended the time period within 
which to approve the proposed rule change, disapprove the proposed rule 
change, or institute proceedings to determine whether to approve or 
disapprove the proposed rule change to January 9, 2018.\5\ The 
Commission issued an order instituting proceedings under Section 
19(b)(2)(B) of the Act to determine whether to approve or disapprove 
the proposed rule change on January 9, 2018 (``OIP'').\6\ The 
Commission received three additional comments in response to the OIP, 
including a comment letter from Nasdaq.\7\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 81816 (October 4, 
2017), 82 FR 47269 (October 11, 2017) (``Notice'').
    \4\ See Letters to Brent J. Fields, Secretary, Commission, from 
Jeffrey M. Solomon, Chief Executive Officer, Cowen and Company, LLC, 
dated October 19, 2017; Jeffrey P. Mahoney, General Counsel, Council 
of Institutional Investors, dated October 25, 2017; Sean Davy, 
Managing Director, Capital Markets Division, SIFMA, dated October 
31, 2017; Akin Gump Strauss Hauer & Feld LLP, dated November 1, 
2017; Steven Levine, Chief Executive Officer, EarlyBirdCapital, 
Inc., dated November 3, 2017; and Christian O. Nagler and David A. 
Curtiss, Kirkland & Ellis LLP, dated November 9, 2017.
    \5\ See Securities Exchange Act Release No. 82142 (November 22, 
2017), 82 FR 56293 (November 28, 2017).
    \6\ See Securities Exchange Act Release No. 82478 (January 9, 
2018), 83 FR 2278 (January 16, 2018).
    \7\ See Letters to Brent J. Fields, Secretary, Commission, from 
Jeffrey P. Mahoney, General Counsel, Council of Institutional 
Investors, dated January 25, 2018; Paul D. Tropp, Freshfields 
Bruckhaus Deringer US LLP, dated January 30, 2018; and Arnold Golub, 
Deputy General Counsel, Nasdaq, dated February 23, 2018.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may, however, extend the period for issuing an 
order approving or disapproving the proposed rule change by not more 
than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on October 11, 2017. April 9, 2018 is 180 days from 
that date, and June 8, 2018 is 240 days from that date.
    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change and the comment letters. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Act,\9\ designates June 8, 2018, as 
the date by which the Commission shall either approve or disapprove the 
proposed rule change (File No. SR-NASDAQ-2017-087).
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
    \9\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-07528 Filed 4-11-18; 8:45 am]
 BILLING CODE 8011-01-P
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