Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change of Amendments to the Exchange's Rules To Delete References to the Term “Allied Member” and Correct Rule 2.1220, 63960-63962 [2018-26823]

Download as PDF amozie on DSK3GDR082PROD with NOTICES1 63960 Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices any new or novel issues. Thus, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest and hereby waives the 30-day operative delay and designates the proposed rule change to be operative upon filing.14 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may 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. 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–NYSEArca–2018–87 and should be submitted on or before January 2, 2019. 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: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Eduardo A. Aleman, Assistant Secretary. 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– NYSEArca–2018–87 on the subject line. SECURITIES AND EXCHANGE COMMISSION 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–NYSEArca–2018–87. 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 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, 14 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 [FR Doc. 2018–26832 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–84724; File No. SR– NYSEAMER–2018–54] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change of Amendments to the Exchange’s Rules To Delete References to the Term ‘‘Allied Member’’ and Correct Rule 2.1220 December 6, 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 November 30, 2018, NYSE American LLC (the ‘‘Exchange’’ or ‘‘NYSE American’’) 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 amendments to the Exchange’s rules to delete references to the term ‘‘allied member’’ and correct an inadvertent error in Rule 2.1220. The proposed rule change is 15 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 intended to harmonize Exchange rules with the rules of the Exchange’s affiliates and the Financial Regulatory Authority, Inc. (‘‘FINRA’’) and thus promote consistency within the securities industry. 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 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 its rules to delete the term ‘‘allied member’’ from its rules. The ‘‘allied member’’ designation is a regulatory category based on a person’s control of a member organization. The Exchange’s affiliate New York Stock Exchange LLC (the ‘‘NYSE’’) no longer has allied members, and FINRA has deleted the term from its Incorporated NYSE Rules.4 In order to harmonize with the rules of the NYSE and FINRA, the Exchange accordingly proposes to delete reference to ‘‘allied member’’ from the following Exchange rules: Rule 2, Rule 2.21E, Rule 7.3E, Rule 18, Rule 25, Rule 50, Rule 204, Rule 310, Rule 317, Rule 320, Rule 341, Rule 341A, Rule 342, Rule 356, Rule 359, Rule 359B, Rule 415, the preamble to the rule regarding Proxies, Rule 458— Equities, Rule 472, Rule 481, Rule 520, Rule 624, Rule 724, Rule 900.2NY and Rule 9232. The Exchange also proposes to delete Rule 23, which defines the term allied member, and Rule 355, which provides the requirements for an allied membership, in their entirety. 4 See Securities Exchange Act Release No. 58549 (September 15, 2008), 73 FR 54444 (September 19, 2008) (SR–NYSE–2008–80) (Notice); Securities Exchange Act Release No. 58533 (September 12, 2008), 73 FR 54652 (September 22, 2008) (SR– FINRA–2008–036) (Order). E:\FR\FM\12DEN1.SGM 12DEN1 Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices Additionally, in October 2017, the Exchange filed to amend its rules regarding qualification, registration and continuing education requirements applicable to member organizations, Equity Trading Permit Holders and American Trading Permit (‘‘ATP’’) Holders.5 The Exchange mistakenly included a cross reference in Rule 2.1220(a)(7) to Rule 11.18(b)(2) (which does not exist) rather than to Rule 920(a) when amending these rules. Rule 2.1220(a)(7) provides that each ATP Holder engaged in options transactions with the public have at least one Registered Options Principal. The rule further requires that a principal responsible for supervising an ATP Holder’s options sales practices with the public, including a person designated pursuant to Rule 11.18(b)(2) register with the Exchange as a Registered Options Principal, unless such principal’s options activities are limited solely to those activities that may be supervised by a General Securities Sales Supervisor, in which case, such person may register as a General Securities Sales Supervisor in lieu of registering as a Registered Options Principal. The reference to Rule 11.18(b)(2) is incorrect because there is no Rule 11.18(b)(2) in the Exchange rulebook. The correct reference should be to Rule 920(a).6 Therefore, the Exchange proposes to replace the reference to Rule 11.18(b)(2) with Rule 920(a). The Exchange is not proposing to amend any other part of the Registration Rules. amozie on DSK3GDR082PROD with NOTICES1 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (the ‘‘Act’’),7 in general, and furthers the objectives of Section 6(b)(5),8 in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with 5 See Securities Exchange Act Release No. 84388 (October 10, 2018), 83 FR 52287 (October 16, 2018) (SR–NYSEAmer–20018–46) (Notice) (‘‘Registration Rules’’). 6 Rule 920(a) provides that ‘‘no member organization shall transact any business with the public in option contracts unless those persons engaged in the supervision of options sales practices, or a person to whom the designated general partner or executive officer (pursuant to Rule 922) or another Registered Options Principal delegates the authority to supervise options sales practices, are registered with and approved by the Exchange as Options Principals.’’ The rule further provides that ‘‘no individual member shall transact any business directly with the public in option contracts unless he is registered with and approved by the Exchange as an Options Principal.’’ 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(5). VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 persons engaged in 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 rule change will harmonize its rules with NYSE and FINRA rules, thus assisting members and member organizations in complying with those rules and thereby enhancing regulatory efficiency. In addition, the Exchange believes that providing greater harmonization between the Exchange and NYSE and FINRA rules would result in less burdensome and more efficient regulatory compliance for Exchange members and member organizations that are subject to regulatory examination and oversight, thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system, consistent with the objectives of Section 6(b)(5) of the Act. Additionally, the Exchange believes that deletion of the term ‘‘allied member’’ is consistent with the Act because the Exchange no longer recognizes allied member as a registration category and no Exchange member is currently registered as an allied member. Accordingly, deletion of the term from the Exchange’s rules will provide clarity and remove any potential confusion among potential Exchange members and member organizations as to the category of memberships and registration requirements on the Exchange. Finally, the Exchange believes it is consistent with the Act to correct the incorrect cross reference in Rule 2.1220(a)(7) so that the Exchange’s rules are accurate, avoiding any potential among ATP Holders. 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 purposes of the Act. The proposed amendments are intended to promote clarity to the Exchange’s rules applicable to member organizations and their registered personnel. Further, the proposed changes would apply to all Exchange members and member organizations in the same manner and therefore would not impose any unnecessary intramarket burdens. PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 63961 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 9 and Rule 19b–4(f)(6) thereunder.10 Because the 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 prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b–4(f)(6)(iii) thereunder.11 At any time within 60 days of the filing of such proposed rule change, the Commission summarily may 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 under Section 19(b)(2)(B) 12 of the Act to determine whether the proposed rule change 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: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or 9 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 11 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 19b–4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 12 15 U.S.C. 78s(b)(2)(B). 10 17 E:\FR\FM\12DEN1.SGM 12DEN1 63962 Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSEAMER–2018–54 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEAMER–2018–54. 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 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–NYSEAMER–2018–54 and should be submitted on or before January 2, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Eduardo A. Aleman, Assistant Secretary. amozie on DSK3GDR082PROD with NOTICES1 [FR Doc. 2018–26823 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P 13 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–034, OMB Control No. 3235–0034] Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Extension: Rule 17f–2(a) Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in the Rule 17f–2(a), (17 CFR 240.17f–2(a)), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17f–2(a) (Fingerprinting Requirements for Securities Professionals) requires that securities professionals be fingerprinted. This requirement serves to identify securityrisk personnel, to allow an employer to make fully informed employment decisions, and to deter possible wrongdoers from seeking employment in the securities industry. Partners, directors, officers, and employees of exchanges, brokers, dealers, transfer agents, and clearing agencies are included. The Commission staff estimates that approximately 4,480 respondents will submit an aggregate total 289,780 new fingerprint cards each year or approximately 65 fingerprint cards per year per registrant. The staff estimates that the average number of hours necessary to complete a fingerprint card is one-half hour. Thus, the total estimated annual burden is 144,890 hours for all respondents (289,780 times one-half hour). The average internal labor cost of compliance per hour is approximately $283. Therefore, the total estimated annual internal labor cost of compliance for all respondents is $41,003,870 (144,890 times $283). This rule does not involve the collection of confidential information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: December 4, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–26851 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA 2018–0068] Notice Announcing Addresses for Service of Process Social Security Administration. Notice announcing addresses for summons and complaints. AGENCY: ACTION: Our Office of the General Counsel (OGC) is responsible for processing and handling summonses and complaints in lawsuits involving judicial review of our final decisions on individual claims for benefits under titles II, VIII, and XVI of the Social Security Act (Act). This notice sets out the names and current addresses of those offices and the jurisdictions for which each office has responsibility. FOR FURTHER INFORMATION CONTACT: David Mansfield, Office of the General Counsel, Office of Program Law, Social Security Administration, 6401 Security Boulevard, Baltimore, MD 21235–6404, (410) 966–2305. For information on eligibility or filing for benefits, call our national toll-free number, 1–800–772– 1213 or TTY 1–800–325–0778, or visit our internet site, Social Security Online, at https://www.socialsecurity.gov. SUPPLEMENTARY INFORMATION: You should mail summonses and complaints in cases involving judicial review of our final decisions on individual claims for benefits under titles II, VIII, and XVI of the Act directly to the OGC location responsible for the jurisdiction in which the complaint has been filed. This notice replaces the notice we published on February 23, 2017 (82 FR 11494), and reflects the current jurisdictional SUMMARY: E:\FR\FM\12DEN1.SGM 12DEN1

Agencies

[Federal Register Volume 83, Number 238 (Wednesday, December 12, 2018)]
[Notices]
[Pages 63960-63962]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26823]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84724; File No. SR-NYSEAMER-2018-54]


Self-Regulatory Organizations; NYSE American LLC; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change of 
Amendments to the Exchange's Rules To Delete References to the Term 
``Allied Member'' and Correct Rule 2.1220

December 6, 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 November 30, 2018, NYSE American LLC (the ``Exchange'' or 
``NYSE American'') 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 amendments to the Exchange's rules to delete 
references to the term ``allied member'' and correct an inadvertent 
error in Rule 2.1220. The proposed rule change is intended to harmonize 
Exchange rules with the rules of the Exchange's affiliates and the 
Financial Regulatory Authority, Inc. (``FINRA'') and thus promote 
consistency within the securities industry. 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 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 its rules to delete the term 
``allied member'' from its rules. The ``allied member'' designation is 
a regulatory category based on a person's control of a member 
organization. The Exchange's affiliate New York Stock Exchange LLC (the 
``NYSE'') no longer has allied members, and FINRA has deleted the term 
from its Incorporated NYSE Rules.\4\ In order to harmonize with the 
rules of the NYSE and FINRA, the Exchange accordingly proposes to 
delete reference to ``allied member'' from the following Exchange 
rules: Rule 2, Rule 2.21E, Rule 7.3E, Rule 18, Rule 25, Rule 50, Rule 
204, Rule 310, Rule 317, Rule 320, Rule 341, Rule 341A, Rule 342, Rule 
356, Rule 359, Rule 359B, Rule 415, the preamble to the rule regarding 
Proxies, Rule 458--Equities, Rule 472, Rule 481, Rule 520, Rule 624, 
Rule 724, Rule 900.2NY and Rule 9232. The Exchange also proposes to 
delete Rule 23, which defines the term allied member, and Rule 355, 
which provides the requirements for an allied membership, in their 
entirety.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 58549 (September 15, 
2008), 73 FR 54444 (September 19, 2008) (SR-NYSE-2008-80) (Notice); 
Securities Exchange Act Release No. 58533 (September 12, 2008), 73 
FR 54652 (September 22, 2008) (SR-FINRA-2008-036) (Order).

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[[Page 63961]]

    Additionally, in October 2017, the Exchange filed to amend its 
rules regarding qualification, registration and continuing education 
requirements applicable to member organizations, Equity Trading Permit 
Holders and American Trading Permit (``ATP'') Holders.\5\ The Exchange 
mistakenly included a cross reference in Rule 2.1220(a)(7) to Rule 
11.18(b)(2) (which does not exist) rather than to Rule 920(a) when 
amending these rules.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 84388 (October 10, 
2018), 83 FR 52287 (October 16, 2018) (SR-NYSEAmer-20018-46) 
(Notice) (``Registration Rules'').
---------------------------------------------------------------------------

    Rule 2.1220(a)(7) provides that each ATP Holder engaged in options 
transactions with the public have at least one Registered Options 
Principal. The rule further requires that a principal responsible for 
supervising an ATP Holder's options sales practices with the public, 
including a person designated pursuant to Rule 11.18(b)(2) register 
with the Exchange as a Registered Options Principal, unless such 
principal's options activities are limited solely to those activities 
that may be supervised by a General Securities Sales Supervisor, in 
which case, such person may register as a General Securities Sales 
Supervisor in lieu of registering as a Registered Options Principal. 
The reference to Rule 11.18(b)(2) is incorrect because there is no Rule 
11.18(b)(2) in the Exchange rulebook. The correct reference should be 
to Rule 920(a).\6\ Therefore, the Exchange proposes to replace the 
reference to Rule 11.18(b)(2) with Rule 920(a). The Exchange is not 
proposing to amend any other part of the Registration Rules.
---------------------------------------------------------------------------

    \6\ Rule 920(a) provides that ``no member organization shall 
transact any business with the public in option contracts unless 
those persons engaged in the supervision of options sales practices, 
or a person to whom the designated general partner or executive 
officer (pursuant to Rule 922) or another Registered Options 
Principal delegates the authority to supervise options sales 
practices, are registered with and approved by the Exchange as 
Options Principals.'' The rule further provides that ``no individual 
member shall transact any business directly with the public in 
option contracts unless he is registered with and approved by the 
Exchange as an Options Principal.''
---------------------------------------------------------------------------

2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Securities Exchange Act of 1934 (the ``Act''),\7\ in general, and 
furthers the objectives of Section 6(b)(5),\8\ in particular, because 
it is designed to prevent fraudulent and manipulative acts and 
practices, to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change will harmonize 
its rules with NYSE and FINRA rules, thus assisting members and member 
organizations in complying with those rules and thereby enhancing 
regulatory efficiency. In addition, the Exchange believes that 
providing greater harmonization between the Exchange and NYSE and FINRA 
rules would result in less burdensome and more efficient regulatory 
compliance for Exchange members and member organizations that are 
subject to regulatory examination and oversight, thereby removing 
impediments to and perfecting the mechanism of a free and open market 
and a national market system, consistent with the objectives of Section 
6(b)(5) of the Act. Additionally, the Exchange believes that deletion 
of the term ``allied member'' is consistent with the Act because the 
Exchange no longer recognizes allied member as a registration category 
and no Exchange member is currently registered as an allied member. 
Accordingly, deletion of the term from the Exchange's rules will 
provide clarity and remove any potential confusion among potential 
Exchange members and member organizations as to the category of 
memberships and registration requirements on the Exchange. Finally, the 
Exchange believes it is consistent with the Act to correct the 
incorrect cross reference in Rule 2.1220(a)(7) so that the Exchange's 
rules are accurate, avoiding any potential among ATP Holders.

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 purposes of the Act. The proposed amendments are 
intended to promote clarity to the Exchange's rules applicable to 
member organizations and their registered personnel. Further, the 
proposed changes would apply to all Exchange members and member 
organizations in the same manner and therefore would not impose any 
unnecessary intramarket burdens.

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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\ 
Because the 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 prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.\11\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(6).
    \11\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such proposed rule 
change, the Commission summarily may 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 under 
Section 19(b)(2)(B) \12\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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

[[Page 63962]]

     Send an email to [email protected]. Please include 
File Number SR-NYSEAMER-2018-54 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE, 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEAMER-2018-54. 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 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-NYSEAMER-2018-54 and should be submitted 
on or before January 2, 2019.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26823 Filed 12-11-18; 8:45 am]
 BILLING CODE 8011-01-P
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