Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Make Permanent Rule 11.24, Which Sets Forth the Exchange's Pilot Retail Price Improvement Program, 867 [2019-00482]

Download as PDF Federal Register / Vol. 84, No. 21 / Thursday, January 31, 2019 / Notices involving only ECPs and with respect to the definition of municipal securities, as described above. As noted above, the Commission invites market participants or other interested parties to provide comments regarding the scope of the permanent relief the Commission is granting in this order, including whether the Commission should provide further relief in response to specific requests made by prior commenters that the Commission is not addressing at this time. Accordingly, pursuant to its authority under Section 36 of the Exchange Act,45 the Commission believes it is necessary or appropriate in the public interest, and consistent with the protection of investors to extend the expiration of all Unlinked Temporary Exemptions for a period of twelve months (i.e., until February 5, 2020). Pursuant to Sections 36, the Commission finds that it is necessary and appropriate and in the public interest, and consistent with the protection of investors to provide an exemption or security-based swap transactions between ECPs from the definition of ‘‘penny stock’’ in Exchange Act Section 3a(51) and Exchange Act Rule 3a51–1. Pursuant to Section 36, the Commission finds that it is necessary and appropriate and in the public interest, and consistent with the protection of investors to provide for an exemption for security-based swap transactions with a municipal counterparty from the definition of ‘‘municipal securities’’ in Exchange Act Section 3(a)(29). * * * * * IV. Conclusion amozie on DSK3GDR082PROD with NOTICES1 It is hereby ordered, pursuant to Section 36 of the Exchange Act, that except as provided below, the Unlinked Temporary Exemptions contained in the 2011 Exchange Act Exemptive Order, and extended in the 2018 Extension Order, in connection with the revision of the Exchange Act definition of ‘‘security’’ to encompass security-based swaps, are extended until February 5, 2020. It is further ordered, pursuant to Section 36 of the Exchange Act, that security-based swap transactions 45 Exchange Act Section 36 [15 U.S.C. 78mm]. Section 36 of the Exchange Act authorizes the Commission to conditionally or unconditionally exempt, by rule, regulation, or order any person, security, or transaction (or any class or classes of persons, securities, or transactions) from any provision of the Exchange Act or any rule or regulation thereunder, to the extent such exemption is necessary or appropriate in the public interest, and is consistent with the protection of investors. VerDate Sep<11>2014 20:21 Jan 30, 2019 Jkt 247001 between ECPs shall be exempt from the definition of ‘‘penny stock’’ set forth in Exchange Act Section 3(a)(51) and Rule 3a51–1. It is further ordered, pursuant to Section 36 of the Exchange Act, that security-based swaps shall be exempt from the definition of ‘‘municipal securities’’ in Exchange Act Section 3(a)(29). By the Commission. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–00505 Filed 1–30–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84972; File No. SR– CboeBYX–2018–014] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Make Permanent Rule 11.24, Which Sets Forth the Exchange’s Pilot Retail Price Improvement Program December 26, 2018. On July 30, 2018, Cboe BYX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) 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 make permanent Rule 11.24, which sets forth the Exchange’s pilot Retail Price Improvement Program. The proposed rule change was published for comment in the Federal Register on August 17, 2018.3 On September 27, 2018, the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.4 On November 15, 2018, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act 5 to determine whether to approve or disapprove the proposed 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 83831 (August 13, 2018), 83 FR 41128. 4 See Securities Exchange Act Release No. 84297, 83 FR 49959 (October 3, 2018). The Commission designated November 15, 2018, as the date by which the Commission shall approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. 5 15 U.S.C. 78(s)(b)(2)(B). 2 17 PO 00000 Frm 00222 Fmt 4703 Sfmt 9990 867 rule change.6 The Commission has received no comments on the proposal. Section 19(b)(2) of the Act 7 provides that, after initiating 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 August 17, 2018.8 February 13, 2019 is 180 days from that date, and April 14, 2019 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.9 Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 a designates April 14, 2019, as the date by which the Commission shall approve or disapprove the proposed rule change (File No. SR–CboeBYX– 2018–014). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–00482 Filed 1–30–19; 8:45 am] BILLING CODE 8011–01–P 6 See Securities Exchange Act Release No. 84600, 83 FR 58802 (November 21, 2018). 7 15 U.S.C. 78s(b)(2). 8 See supra note 3. 9 The Commission notes that on December 11, 2018, the Exchange filed a proposed rule change to extend the pilot period to June 30, 2019. See Securities Exchange Act Release No. 84830, 83 FR 65769 (December 21, 2018) (SR–CboeBYX–2018– 025). 10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(31). E:\FR\FM\31JAN1.SGM 31JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 84, Number 21 (Thursday, January 31, 2019)]
[Notices]
[Page 867]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00482]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84972; File No. SR-CboeBYX-2018-014]


Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change To Make Permanent Rule 11.24, Which Sets Forth the Exchange's 
Pilot Retail Price Improvement Program

December 26, 2018.
    On July 30, 2018, Cboe BYX Exchange, Inc. (the ``Exchange'' or 
``BYX'') 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 make permanent Rule 11.24, which sets forth the 
Exchange's pilot Retail Price Improvement Program. The proposed rule 
change was published for comment in the Federal Register on August 17, 
2018.\3\ On September 27, 2018, the Commission designated a longer 
period within which to approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
disapprove the proposed rule change.\4\ On November 15, 2018, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the Act 
\5\ to determine whether to approve or disapprove the proposed rule 
change.\6\ The Commission has received no comments on the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 83831 (August 13, 
2018), 83 FR 41128.
    \4\ See Securities Exchange Act Release No. 84297, 83 FR 49959 
(October 3, 2018). The Commission designated November 15, 2018, as 
the date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \5\ 15 U.S.C. 78(s)(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 84600, 83 FR 58802 
(November 21, 2018).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \7\ provides that, after initiating 
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 
August 17, 2018.\8\ February 13, 2019 is 180 days from that date, and 
April 14, 2019 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.\9\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See supra note 3.
    \9\ The Commission notes that on December 11, 2018, the Exchange 
filed a proposed rule change to extend the pilot period to June 30, 
2019. See Securities Exchange Act Release No. 84830, 83 FR 65769 
(December 21, 2018) (SR-CboeBYX-2018-025).
---------------------------------------------------------------------------

    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ a designates April 14, 2019, as the date by which the 
Commission shall approve or disapprove the proposed rule change (File 
No. SR-CboeBYX-2018-014).
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).
    \11\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-00482 Filed 1-30-19; 8:45 am]
 BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.