64388 Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices 

24 15 U.S.C. 78s(b)(3)(A). 

25 17 CFR 240.19b–4(f)(6). 

26 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of 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. 27 17 CFR 240.19b–4(f)(6). 28 17 CFR 240.19b–4(f)(6)(iii). 29For purposes only of waiving the 30-day 

operative delay, the Commission also has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 30 17 CFR 200.30–3(a)(12). 

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. Rather, the 

Exchange believes that the proposed 

changes with respect to its Risk Monitor 

Mechanism help promote fair and 

orderly markets and provide clarity and 

transparency the Rule. For example, the 

proposed rule change adds an 

additional risk control parameter and 

flexibility to help further prevent 

potentially erroneous executions, which 

benefits all market participants. The 

proposed changes apply uniformly to all 

Members and the Exchange notes that 

the proposed changes apply to all 

quotes and orders in the same manner. 

Additionally, the Exchange does not 

believe that the proposed rule change 

will impose any burden on intermarket 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act because the 

proposed enhancements apply only to 

trading on the Exchange. Additionally, 

the Exchange notes that it is voluntary 

for the Members to determine whether 

to make use of the new enhancements 

of the Risk Monitor Mechanism. To the 

extent that the proposed changes may 

make the Exchange a more attractive 

trading venue for market participants on 

other exchanges, such market 

participants may elect to become 

Exchange market participants. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: 

A. significantly affect the protection 

of investors or the public interest; 

B. impose any significant burden on 

competition; and 

C. become operative for 30 days from 

the date on which it was filed, or such 

shorter time as the Commission may 

designate, it has become effective 

pursuant to Section 19(b)(3)(A) of the 

Act 24 and Rule 19b–4(f)(6) 25

thereunder.26

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 27 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 28

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay to provide Members 

with additional tools and greater 

flexibility for managing their potential 

risk as soon as possible. Accordingly, 

the Commission believes that waiver of 

the 30-day operative delay is consistent 

with the protection of investors and the 

public interest. Therefore, the 

Commission hereby waives the 

operative delay and designates the 

proposal as operative upon filing.29

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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

CboeEDGX–2018–058 on the subject 

line. 

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–CboeEDGX–2018–058. 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 (http://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–CboeEDGX–2018–058 and 

should be submitted on or before 

January 4, 2019. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27086 Filed 12–13–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–359, OMB Control No. 

3235–0410] 

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: 


amozie on DSK3GDR082PROD with NOTICES1
Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices 64389 

Rules 17h–1T and 17h–2T 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (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 

Rules 17h–1T and 17h–2T (17 CFR 

240.17h–1T and 17 CFR 240.17h–2T), 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78a et seq.). 

Rule 17h–1T requires a covered 

broker-dealer to maintain and preserve 

records and other information 

concerning certain entities that are 

associated with the broker-dealer. This 

requirement extends to the financial and 

securities activities of the holding 

company, affiliates and subsidiaries of 

the broker-dealer that are reasonably 

likely to have a material impact on the 

financial or operational condition of the 

broker-dealer. Rule 17h–2T requires a 

covered broker-dealer to file with the 

Commission quarterly reports and a 

cumulative year-end report concerning 

the information required to be 

maintained and preserved under Rule 

17h–1T. 

The collection of information required 

by Rules 17h–1T and 17h–2T, 

collectively referred to as the ‘‘risk 

assessment rules,’’ is necessary to 

enable the Commission to monitor the 

activities of a broker-dealer affiliate 

whose business activities are reasonably 

likely to have a material impact on the 

financial or operational condition of the 

broker-dealer. Without this information, 

the Commission would be unable to 

assess the potentially damaging impact 

of the affiliate’s activities on the brokerdealer. 

There are currently 285 respondents 

that must comply with Rules 17h–1T 

and 17h–2T. Each of these 285 

respondents are estimated to require 10 

hours per year to maintain the records 

required under Rule 17h–1T, for an 

aggregate estimated annual burden of 

2,850 hours (285 respondents × 10 

hours). In addition, each of these 285 

respondents must make five annual 

responses under Rule 17h–2T. These 

five responses are estimated to require 

14 hours per respondent per year for an 

aggregate estimated annual burden of 

3,990 hours (285 respondents × 14 

hours). 

In addition, new respondents must 

draft an organizational chart required 

under Rule 17h–1T and establish a 

system for complying with the risk 

assessment rules. The staff estimates 

that drafting the required organizational 

chart requires one hour and establishing 

a system for complying with the risk 

assessment rules requires three hours. 

Based on the reduction in the number 

of filers in recent years, the staff 

estimates there will be zero new 

respondents, and thus, a corresponding 

estimated burden of zero hours for new 

respondents. Thus, the total compliance 

burden per year is approximately 6,840 

burden hours (2,850 hours + 3,990 

hours). 

The retention period for the 

recordkeeping requirement for the 

information, reports and records 

required under Rule 17h–1T is not less 

than three years. There is no specific 

retention period or recordkeeping 

requirement for Rule 17h–2T. The 

collection of information is mandatory. 

All information obtained by the 

Commission pursuant to the provisions 

of Rules 17h–1T and 17h–2T from a 

broker or dealer concerning a material 

associated person is deemed 

confidential information for the 

purposes of section 24(b) of the 

Exchange Act. 

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: 

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 10, 2018. 

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27091 Filed 12–13–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

33320; 812–14933] 

Pacific Global ETF Trust and Cadence 

Capital Management LLC 

December 11, 2018. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of an application for an order 

under section 6(c) of the Investment 

Company Act of 1940 (the ‘‘Act’’) for an 

exemption from sections 2(a)(32), 

5(a)(1), 22(d), and 22(e) of the Act and 

rule 22c–1 under the Act, under 

sections 6(c) and 17(b) of the Act for an 

exemption from sections 17(a)(1) and 

17(a)(2) of the Act, and under section 

12(d)(1)(J) for an exemption from 

sections 12(d)(1)(A) and 12(d)(1)(B) of 

the Act. The requested order would 

permit (a) actively-managed series of 

certain open-end management 

investment companies (‘‘Funds’’) to 

issue shares redeemable in large 

aggregations only (‘‘Creation Units’’); (b) 

secondary market transactions in Fund 

shares to occur at negotiated market 

prices rather than at net asset value 

(‘‘NAV’’); (c) certain Funds to pay 

redemption proceeds, under certain 

circumstances, more than seven days 

after the tender of shares for 

redemption; (d) certain affiliated 

persons of a Fund to deposit securities 

into, and receive securities from, the 

Fund in connection with the purchase 

and redemption of Creation Units; (e) 

certain registered management 

investment companies and unit 

investment trusts outside of the same 

group of investment companies as the 

Funds (‘‘Funds of Funds’’) to acquire 

shares of the Funds; and (f) certain 

Funds (‘‘Feeder Funds’’) to create and 

redeem Creation Units in-kind in a 

master-feeder structure. 

APPLICANTS: Pacific Global ETF Trust 

(‘‘Trust’’), a Delaware statutory trust that 

will be registered under the Act as an 

open-end management investment 

company with multiple series, and 

Cadence Capital Management LLC 

(‘‘Initial Adviser’’), a Delaware limited 

liability company registered as an 

investment adviser under the 

Investment Advisers Act of 1940. 

FILING DATES: The application was filed 

on July 24, 2018 and amended on 

November 21, 2018. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the requested relief will 

be issued unless the Commission orders 

a hearing. Interested persons may 


amozie on DSK3GDR082PROD with NOTICES1