Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the BrandywineGLOBAL-Global Total Return ETF, a Series of Legg Mason ETF Investment Trust, Under Nasdaq Rule 5735, 63915 [2018-26909]

Download as PDF Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices amozie on DSK3GDR082PROD with NOTICES1 ¥ 37,800)/56,700}], where A equals the amount of the applicable base with respect to tier 1 taxes for 2019 under section 3231(e)(2) of the Internal Revenue Code of 1986. Section 1(i) further provides that if the amount so determined is not a multiple of $5, it shall be rounded to the nearest multiple of $5. Using the calendar year 2019 tier 1 tax base of $132,900 for A above produces the amount of $1,606.35, which must then be rounded to $1,605. Accordingly, the monthly compensation base is determined to be $1,605 for months in calendar year 2019. Amounts Related to Changes in Monthly Compensation Base For years after 1988, sections 1(k), 3, 4(a–2)(i)(A) and 2(c) of the Act contain formulas for determining amounts related to the monthly compensation base. Under section 1(k), remuneration earned from employment covered under the Act cannot be considered subsidiary remuneration if the employee’s base year compensation is less than 2.5 times the monthly compensation base for months in such base year. Under section 3, an employee shall be a ‘‘qualified employee’’ if his/her base year compensation is not less than 2.5 times the monthly compensation base for months in such base year. Under section 4(a–2)(i)(A), an employee who leaves work voluntarily without good cause is disqualified from receiving unemployment benefits until he has been paid compensation of not less than 2.5 times the monthly compensation base for months in the calendar year in which the disqualification ends. Multiplying 2.5 by the calendar year 2019 monthly compensation base of $1,605 produces $4,012.50. Accordingly, the amount determined under sections 1(k), 3 and 4(a–2)(i)(A) is $4,012.50 for calendar year 2019. Under section 2(c), the maximum amount of normal benefits paid for days of unemployment within a benefit year and the maximum amount of normal benefits paid for days of sickness within a benefit year shall not exceed an employee’s compensation in the base year. In determining an employee’s base year compensation, any money remuneration in a month not in excess of an amount that bears the same ratio to $775 as the monthly compensation base for that year bears to $600 shall be taken into account. The calendar year 2019 monthly compensation base is $1,605. The ratio of $1,605 to $600 is 2.67500000. Multiplying 2.67500000 by $775 produces $2,073. Accordingly, the VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 amount determined under section 2(c) is $2,073 for months in calendar year 2019. Maximum Daily Benefit Rate Section 2(a)(3) contains a formula for determining the maximum daily benefit rate for registration periods beginning after June 30, 1989, and after each June 30 thereafter. Legislation enacted on October 9, 1996, revised the formula for indexing maximum daily benefit rates. Under the prescribed formula, the maximum daily benefit rate increases by approximately two-thirds of the cumulative growth in average national wages since 1984. The maximum daily benefit rate for registration periods beginning after June 30, 2019, shall be equal to 5 percent of the monthly compensation base for the base year immediately preceding the beginning of the benefit year. Section 2(a)(3) further provides that if the amount so computed is not a multiple of $1, it shall be rounded down to the nearest multiple of $1. The calendar year 2018 monthly compensation base is $1,560. Multiplying $1,560 by 0.05 yields $78.00. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2019, is determined to be $78. By Authority of the Board. Sylvia Zaragoza, Acting Secretary to the Board. [FR Doc. 2018–26927 Filed 12–11–18; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84747; File No. SR– NASDAQ–2018–080] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the BrandywineGLOBAL—Global Total Return ETF, a Series of Legg Mason ETF Investment Trust, Under Nasdaq Rule 5735 63915 thereunder,2 a proposed rule change to list and trade shares of the BrandywineGLOBAL—Global Total Return ETF, a series of Legg Mason ETF Investment Trust, under Nasdaq Rule 5735 (Managed Fund Shares). The proposed rule change was published for comment in the Federal Register on November 5, 2018.3 The Commission has received no comment letters on the proposed rule change. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is December 20, 2018. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates February 3, 2019 as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–NASDAQ–2018–080). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–26909 Filed 12–11–18; 8:45 am] BILLING CODE 8011–01–P December 7, 2018. On October 17, 2018, 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 1 15 PO 00000 U.S.C. 78s(b)(1). Frm 00091 Fmt 4703 Sfmt 9990 2 17 CFR 240.19b–4. Securities Exchange Act Release No. 84505 (October 30, 2018), 83 FR 55416. 4 15 U.S.C. 78s(b)(2). 5 Id. 6 17 CFR 200.30–3(a)(31). 3 See E:\FR\FM\12DEN1.SGM 12DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 83, Number 238 (Wednesday, December 12, 2018)]
[Notices]
[Page 63915]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26909]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84747; File No. SR-NASDAQ-2018-080]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To List and Trade Shares of the BrandywineGLOBAL--
Global Total Return ETF, a Series of Legg Mason ETF Investment Trust, 
Under Nasdaq Rule 5735

December 7, 2018.
    On October 17, 2018, 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 list and trade shares of the BrandywineGLOBAL--
Global Total Return ETF, a series of Legg Mason ETF Investment Trust, 
under Nasdaq Rule 5735 (Managed Fund Shares). The proposed rule change 
was published for comment in the Federal Register on November 5, 
2018.\3\ The Commission has received no comment letters on the proposed 
rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 84505 (October 30, 
2018), 83 FR 55416.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding, or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is December 20, 2018. The Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
February 3, 2019 as the date by which the Commission shall either 
approve or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-NASDAQ-2018-080).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26909 Filed 12-11-18; 8:45 am]
 BILLING CODE 8011-01-P

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