65386 Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices 

a ‘‘Subadvised Series’’). For purposes of the 

requested order, ‘‘successor’’ is limited to an entity 

that results from a reorganization into another 

jurisdiction or a change in the type of business 

organization. 

2A ‘‘Sub-Adviser’’ for a Subadvised Series is an 

investment sub-adviser for that Series that is not an 

‘‘affiliated person’’ (as such term is defined in 

Section 2(a)(3) of the Act) of the Subadvised Series 

or the Adviser, except to the extent that an 

affiliation arises solely because the Sub-Adviser 

serves as a sub-adviser to one or more Subadvised 

Series (each a ‘‘Non-Affiliated Sub-Adviser’’ and 

collectively, the ‘‘Non-Affiliated Sub-Advisers’’). 

3The requested relief will not extend to any subadviser which is an affiliated person, as defined in 

section 2(a)(3) of the Act, of the Subadvised Series 

or of its Adviser, other than by reason of serving 

as a sub-adviser to one or more of the Subadvised 

Series (‘‘Affiliated Sub-Adviser’’). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 83122 

(April 27, 2018), 83 FR 19578. 

5See Securities Exchange Act Release No. 83385, 

83 FR 27034 (June 11, 2018). 

6See Securities Exchange Act Release No. 83733, 

83 FR 37831 (August 2, 2018). 

7 15 U.S.C. 78s(b)(2). 

8See Securities Exchange Act Release No. 84462, 

83 FR 54153 (October 26, 2018). The Commission 

designated December 29, 2018, as the date by which 

the Commission shall either approve or disapprove 

the proposed rule change. 

9 In Amendment No. 2, the Exchange: (1) Clarified 

the scope of asset-backed securities (‘‘ABSs’’) in 

which the Fund may invest; (2) limited the junior 

loans in which the Fund may invest to those that 

satisfy all of the criteria in Commentary .01(b) to 

Rule 8.600–E; (3) clarified the scope of mortgagebacked securities (‘‘MBSs’’) in which the Fund may 

invest; (4) eliminated as permitted investments of 

the Fund publicly or privately issued interests in 

investment pools whose underlying assets are credit 

default, credit-linked, interest rate, currency 

exchange, equity-linked or other types of swap 

contracts and related underlying securities or 

securities loan agreements; (5) established and 

provided support for the following diversification 

requirements with respect to the Fund’s 

investments in non-agency ABS and MBS, which 

collectively may comprise up to 30% of the weight 

of the Fund’s ‘‘Fixed Income Securities’’ (defined 

below): (a) Up to 25% of such weight may be in 

ABS, provided that up to 5% of the weight of its 

Fixed Income Securities investments may be in 

CBOs, CLOs and CDOs, in the aggregate; (b) up to 

15% of its Fixed Income Securities investments 

may be in MBS, including CMOs but excluding 

CMBS; and (c) up to 15% of its Fixed Income 

Securities investments may be in CMBS; and (6) 

made other technical, non-substantive, and 

conforming changes. Because Amendment No. 2 

makes clarifying modifications, provides additional 

representations, and eliminates a permitted 

category of investments, it is not subject to notice 

provide the Subadvised Series with 

continuous and comprehensive 

investment management services, 

subject to the supervision of, and 

policies established by, the Trust’s 

board of trustees (the ‘‘Board’’). The 

Investment Management Agreement 

permits the Adviser, subject to the 

approval of the Board, to delegate to one 

or more Sub-Advisers the responsibility 

to provide the day-to-day portfolio 

investment management of each 

Subadvised Series, subject to the 

supervision and direction of the 

Adviser.2 The primary responsibility for 

managing the Subadvised Series will 

remain vested in the Adviser. The 

Adviser will hire, evaluate, allocate 

assets to and oversee the Sub-Advisers, 

including determining whether a SubAdviser should be terminated, at all 

times subject to the authority of the 

Board. 

2. Applicants request an exemption to 

permit the Adviser, subject to Board 

approval, to hire a Non-Affiliated SubAdviser, pursuant to Sub-Advisory 

Agreements and materially amend SubAdvisory Agreements with NonAffiliated Sub-Advisers without 

obtaining the shareholder approval 

required under section 15(a) of the Act 

and rule 18f–2 under the Act.3

Applicants also seek an exemption from 

the Disclosure Requirements to permit a 

Subadvised Series to disclose (as both a 

dollar amount and a percentage of the 

Subadvised Series’ net assets): (a) The 

aggregate fees paid to the Adviser; (b) 

the aggregate fees paid to Non-Affiliated 

Sub-Advisers; and (c) the fee paid to 

each Affiliated Sub-Adviser. 

3. Applicants agree that any order 

granting the requested relief will be 

subject to the terms and conditions 

stated in the application. Such terms 

and conditions provide for, among other 

safeguards, appropriate disclosure to 

Subadvised Series’ shareholders and 

notification about sub-advisory changes 

and enhanced Board oversight to protect 

the interests of the Subadvised Series’ 

shareholders. 

4. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security, or transaction or any 

class or classes of persons, securities, or 

transactions from any provisions of the 

Act, or any rule thereunder, if such 

relief is necessary or appropriate in the 

public interest and consistent with the 

protection of investors and purposes 

fairly intended by the policy and 

provisions of the Act. Applicants 

believe that the requested relief meets 

this standard because, as further 

explained in the application, the 

Investment Management Agreements 

will remain subject to shareholder 

approval while the role of the SubAdvisers is substantially equivalent to 

that of individual portfolio managers, so 

that requiring shareholder approval of 

Sub-Advisory Agreements would 

impose unnecessary delays and 

expenses on the Subadvised Series. 

Applicants believe that the requested 

relief from the Disclosure Requirements 

meets this standard because it will 

improve the Adviser’s ability to 

negotiate fees paid to the Sub-Advisers 

that are more advantageous for the 

Subadvised Series. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27516 Filed 12–19–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–84826; File No. SR– 

NYSEArca–2018–25] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Order Approving a 

Proposed Rule Change, as Modified by 

Amendment No. 2, Regarding the 

Continued Listing and Trading of 

Shares of the Natixis Loomis Sayles 

Short Duration Income ETF 

December 14, 2018. 

I. Introduction 

On April 16, 2018, NYSE Arca, Inc. 

(‘‘Exchange’’ or ‘‘NYSE Arca’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) 1 of the Securities 

Exchange Act of 1934 (‘‘Act’’) 2 and Rule 

19b–4 thereunder,3 a proposed rule 

change to amend the listing 

requirements applicable to the shares 

(‘‘Shares’’) of the Natixis Loomis Sayles 

Short Duration Income ETF (‘‘Fund’’). 

The proposed rule change was 

published for comment in the Federal 

Register on May 3, 2018.4 On June 5, 

2018, 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 August 1, 2018.5 On June 

6, 2018, the Exchange filed Amendment 

No. 1 to the proposed rule change, 

which replaced and superseded the 

proposed rule change as originally filed. 

On July 27, 2018, the Commission 

noticed filing of Amendment No. 1 and 

instituted proceedings to determine 

whether to approve or disapprove the 

proposed rule change.6 On July 27, 

2018, pursuant to Section 19(b)(2) of the 

Act,7 the Commission designated a 

longer period within which to issue an 

order approving or disapproving the 

proposed rule change.8 On December 6, 

2018, the Exchange filed Amendment 

No. 2 to the proposed rule change, 

which replaced and superseded the 

proposed rule change as modified by 

Amendment No. 1.9 On October 22, 


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Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices 65387 

and comment. All of the amendments to the 

proposed rule change are available at: https://

www.sec.gov/comments/sr-nysearca-2018-25/ 

nysearca201825.htm. 

10See Securities Exchange Act Release No. 84462, 

83 FR 54153 (October 26, 2018). 

11Additional information regarding the Fund, the 

Trust (defined infra), and the Shares can be found 

in Amendment No. 2, supra note 9, and the 

Registration Statement, infra note 13. 

12NYSE Arca Rule 8.600–E governs the listing 

and trading of Managed Fund Shares on the 

Exchange. A ‘‘Managed Fund Share’’ is a security 

that (1) represents an interest in a registered 

investment company (‘‘Investment Company’’) 

organized as an open-end management investment 

company or similar entity, that invests in a portfolio 

of securities selected by the Investment Company’s 

investment adviser consistent with the Investment 

Company’s investment objectives and policies; (2) 

is issued in a specified aggregate minimum number 

in return for a deposit of a specified portfolio of 

securities and/or a cash amount with a value equal 

to the next determined net asset value (‘‘NAV’’); 

and (3) when aggregated in the same specified 

minimum number, may be redeemed at a holder’s 

request, which holder will be paid a specified 

portfolio of securities and/or cash with a value 

equal to the next determined NAV. See NYSE Arca 

Rule 8.600–E(c)(1). Pursuant to Commentary .01 to 

NYSE Arca Rule 8.600–E, the Exchange may 

approve Managed Fund Shares for listing and 

trading pursuant to Rule 19b–4(e) under the Act 

provided that components the actively managed 

fund’s portfolio comply with specified criteria upon 

initial listing and on a continual basis. 

13On December 26, 2017, the Trust filed with the 

Commission its registration statement on Form N– 

1A under the Securities Act of 1933 (15 U.S.C. 77a), 

and under the 1940 Act relating to the Fund (File 

Nos. 333–210156 and 811–23146) (‘‘Registration 

Statement’’). In addition, the Commission has 

issued an order granting certain exemptive relief to 

the Trust under the 1940 Act. See Investment 

Company Act Release No. 30654 (August 20, 2013) 

(File No. 812–13942–02). 

14The term ‘‘normal market conditions’’ is 

defined in NYSE Arca Rule 8.600–E(c)(5). 

15ABSs may include collateralized bond 

obligations (‘‘CBOs’’), collateralized loan 

obligations (‘‘CLOs’’), and other collateralized debt 

obligations (‘‘CDOs’’). 

16The Fund’s investment in junior loans is 

subject to all criteria in Commentary .01(b) to Rule 

8.600–E, including the criteria relating to minimum 

original principal amount outstanding 

(Commentary .01(b)(1), portfolio weighting 

(Commentary .01(b)(2), and the numerical and other 

criteria in Commentary .01(b)(4). See Amendment 

No. 2, supra note 9, at 6, n.7. 

17MBS may include collateralized mortgage 

obligations (‘‘CMOs’’) and commercial mortgagebacked securities (‘‘CMBS’’). 

18Money market instruments are short-term 

instruments referenced in Commentary .01(c) to 

NYSE Arca Rule 8.600–E. 

19See supra note 14. 

20All ETFs will be listed and traded in the U.S. 

on a national securities exchange. While the Fund 

may invest in inverse ETFs, the Fund will not 

invest in leveraged (e.g., 2X, –2X, 3X or –3X) ETFs. 

See Amendment No. 2, supra note 9, at 7, n.11. 

21ETNs are Index-Linked Securities as described 

in NYSE Arca Rule 5.2–E(j)(6). See id. at 7, n.12. 

22Commentary .01(a)(1) to Rule 8.600–E requires 

that the component stocks of the equity portion of 

a portfolio that are U.S. Component Stocks shall 

meet certain criteria initially and on a continuing 

basis. Specifically: Commentary .01(a)(1)(A) 

requires that component stocks (excluding 

Derivative Securities Products and Index-Linked 

Securities) that in the aggregate account for at least 

90% of the equity weight of the portfolio (excluding 

such Derivative Securities Products and IndexLinked Securities) each shall have a minimum 

market value of at least $75 million; Commentary 

.01(a)(1)(B) requires that component stocks 

(excluding Derivative Securities Products and 

Index-Linked Securities) that in the aggregate 

account for at least 70% of the equity weight of the 

portfolio (excluding such Derivative Securities 

Products and Index-Linked Securities) each shall 

Continued 

2018, the Commission extended the 

time period for Commission action to 

December 29, 2018.10 The Commission 

received no comments on the proposed 

rule change. This order approves the 

proposed rule change, as modified by 

Amendment No. 2. 

II. Description of the Proposal 11

Pursuant to Commentary .01 to NYSE 

Arca Rule 8.600–E,12 the Exchange 

listed and began trading the Shares on 

December 28, 2017. The Shares are 

offered by Natixis ETF Trust (‘‘Trust’’), 

which is registered as an open-end 

management investment company 

under the Investment Company Act of 

1940 (‘‘1940 Act’’).13 Natixis Advisors, 

L.P. (‘‘Adviser’’) is the investment 

adviser for the Fund. Loomis, Sayles & 

Company, L.P. is the Fund’s sub-adviser 

(‘‘Sub-Adviser’’). The Fund’s investment 

objective is current income consistent 

with preservation of capital. The 

Exchange filed this proposed rule 

change because the Fund would like to 

invest in assets that may not satisfy all 

of the requirements of Commentary .01 

to NYSE Arca Rule 8.600–E, as 

discussed further below. 

A. The Fund’s Contemplated 

Investments 

While the Fund may hold any portion 

of its assets in cash (U.S. dollars, foreign 

currencies or multinational currency 

units) and/or cash equivalents, under 

normal market conditions,14 the Fund 

will invest at least 80% of its net assets 

in the following: 

• U.S. Government Securities, 

including U.S. Treasury Bills, U.S. 

Treasury Notes and Bonds, U.S. 

Treasury Floating Rate Notes, Treasury 

Inflation-Protected Securities, and 

obligations of U.S. agencies or 

instrumentalities (e.g., ‘‘Ginnie Maes’’, 

‘‘Fannie Maes’’ and ‘‘Freddie Macs’’); 

• agency and non-agency assetbacked securities (‘‘ABS’’); 15

• U.S. dollar-denominated foreign 

securities, including emerging market 

securities; 

• Adjustable-Rate Mortgage 

Securities; 

• junior and senior loans; 16

• bank loans, loan participations and 

assignments; 

• agency and non-agency mortgagebacked securities (‘‘MBS’’); 17

• zero coupon and pay-in-kind 

securities; 

• corporate bonds; 

• Non-US government securities, 

supranational entities obligations issued 

by foreign governments, or international 

agencies and instrumentalities; 

• inflation-linked and inflationindexed securities; 

• money market instruments; 18

• mortgage-related securities (such as 

Government National Mortgage 

Association or Federal National 

Mortgage Association certificates); 

• mortgage dollar rolls; 

• variable and floating rate securities; 

• Rule 144A securities; 

• taxable municipal securities; 

• step-coupon securities; and 

• stripped securities (collectively, 

‘‘Fixed Income Securities’’). 

Additionally, under normal market 

conditions,19 the Fund may invest its 

remaining assets in the following: 

• short sales of Fixed Income 

Securities; 

• exchange-traded funds (‘‘ETFs’’) 20

and exchange-traded notes (‘‘ETNs’’); 21

• the following swaps: Interest rate, 

credit default, credit default swaps 

index (‘‘CDX’’), commodity, equitylinked, fixed income, credit default, 

credit-linked and currency exchange 

swaps or an index or indexes of the 

foregoing; 

• swaptions; 

• the following options: U.S. 

exchange-traded and over-the-counter 

(‘‘OTC’’) options on Fixed Income 

Securities, domestic and foreign equity 

and fixed income indices, CDX, U.S. 

Treasury futures contracts, interest rates 

and currencies; 

• futures on Fixed Income Securities, 

domestic and foreign equity and fixed 

income indices, interest rates and CDX; 

and 

• shares of non-exchange-traded 

open-end investment company 

securities. 

B. The Contemplated Investments’ 

Possible Non-Compliance With the 

Generic Listing Requirements 

The Exchange filed this proposed rule 

change to allow the Fund’s portfolio to 

not satisfy the two ‘‘generic’’ listing 

criteria of Commentary .01 to NYSE 

Arca Rule 8.600–E going forward. 

First, as noted above, the Fund desires 

to invest in non-exchange traded 

investment company securities (e.g., 

mutual fund shares). Such shares, 

which could comprise at most up to 

20% of the Fund’s net assets, would not 

satisfy the requirements of Commentary 

.01(a)(1) to Rule 8.600–E.22 According to 


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65388 Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices 

have a minimum monthly trading volume of 

250,000 shares, or minimum notional volume 

traded per month of $25,000,000, averaged over the 

last six months; Commentary .01(a)(1)(C) requires 

that the most heavily weighted component stock 

(excluding Derivative Securities Products and 

Index-Linked Securities) shall not exceed 30% of 

the equity weight of the portfolio, and, to the extent 

applicable, the five most heavily weighted 

component stocks (excluding Derivative Securities 

Products and Index-Linked Securities) shall not 

exceed 65% of the equity weight of the portfolio; 

Commentary .01(a)(1)(D) requires that, where the 

equity portion of the portfolio does not include 

Non-U.S. Component Stocks, the equity portion of 

the portfolio shall include a minimum of 13 

component stocks, provided that there shall be no 

minimum number of component stocks if (i) one or 

more series of Derivative Securities Products or 

Index-Linked Securities constitute, at least in part, 

components underlying a series of Managed Fund 

Shares, or (ii) one or more series of Derivative 

Securities Products or Index-Linked Securities 

account for 100% of the equity weight of the 

portfolio of a series of Managed Fund Shares; and 

Commentary .01(a)(1)(E) requires that, except as 

provided herein, equity securities in the portfolio 

shall be U.S. Component Stocks listed on a national 

securities exchange and shall be NMS Stocks as 

defined in Rule 600 of Regulation NMS under the 

Securities Exchange Act of 1934. 

23See id. 

24Commentary .01(b)(5) to Rule 8.600–E prohibits 

non-agency, non-GSE and privately-issued 

mortgage-related and other asset-backed securities 

components of a portfolio from accounting (in the 

aggregate) for more than 20% of the weight of the 

fixed income portion of the portfolio. 

25See id. 

26See id. at 15. 

27 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

28 15 U.S.C. 78f(b)(5). 

29Commentary .01(b)(5) to NYSE Arca Rule 

8.600–E provides that non-agency, non-government 

sponsored entity and privately issued mortgagerelated and other asset-backed securities 

components of a portfolio may not account, in the 

aggregate, for more than 20% of the weight of the 

fixed income portion of the portfolio. 

30See, e.g., Securities Exchange Act Release No. 

78414 (July 26, 2016), 81 FR 50576 (August 1, 2016) 

(SR–NYSEArca–2016–79) (approving the listing and 

trading of shares of the Virtus Japan Alpha ETF 

under NYSE Arca Equities Rule 8.600). 

31See Securities Exchange Act Release No. 84047 

(September 6, 2018), 83 FR 46200 (September 12, 

2018) (SR–Nasdaq–2017–128) (approving the listing 

and trading of shares of the Western Asset Total 

Return ETF). 

32See Amendment No. 2, supra note 9, at 12. 

33See id. at 19. 

34See id. 

35See id. at 17. 

36See id. at 18. 

37See id. at 18. See also 17 CFR 240.10A–3. 

the Exchange, the Fund would utilize 

such investments to help the Fund meet 

its investment objective and to equitize 

cash in the short term.23

Second, the Fund seeks to modify the 

limit on non-agency, non-governmentsponsored entity (‘‘GSE’’) and privatelyissued mortgage-related and other assetbacked securities. Instead, of the 20% 

limit in Commentary .01(b)(5),24 the 

Exchange proposes that up to 30% of 

the weight of the Fixed Income 

Securities portion of the Fund’s 

portfolio consist of non-agency, nonGSE and privately-issued mortgagerelated and other asset-backed 

securities, provided that: (1) Up to 25% 

of such weight may be in ABS, provided 

that up to 5% of the weight of its Fixed 

Income Securities investments may be 

in CBOs, CLOs and CDOs, in the 

aggregate; (2) up to 15% of its Fixed 

Income Securities investments may be 

in MBS, including CMOs but excluding 

CMBS; and (3) up to 15% of its Fixed 

Income Securities investments may be 

in CMBS. The Exchange asserts that 

these limits would provide additional 

diversification to the Fund’s ABS and 

MBS investments and reduce concerns 

that the Fund’s investment in such 

securities would be readily susceptible 

to market manipulation. According to 

the Adviser, permitting such 

investments: (1) Would be in the best 

interest of the Fund’s shareholders 

because such investments have the 

potential to reduce the overall risk 

profile of the Fund’s portfolio through 

diversification; and (2) would afford the 

Fund greater flexibility to invest in the 

most liquid available Fixed Income 

Securities issues.25

The Exchange would require the 

Shares to satisfy all the other 

requirements of Rule 8.600–E.26

III. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the Exchange’s proposal to 

amend the listing requirements 

applicable to the Shares is consistent 

with the Act and the rules and 

regulations thereunder applicable to a 

national securities exchange.27 In 

particular, the Commission finds that 

the proposed rule change, as modified 

by Amendment No. 2, is consistent with 

Section 6(b)(5) of the Act,28 which 

requires, among other things, that the 

Exchange’s rules be designed to prevent 

fraudulent and manipulative acts and 

practices, promote just and equitable 

principles of trade, 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. 

As mentioned above, the Shares 

would continue to satisfy all of the 

generic listing criteria except for the 

requirements of Commentary .01(b)(5) to 

NYSE Arca Rule 8.600–E,29 and 

Commentary .01(a)(1)(A) through (E) to 

Rule 8.600–E. 

The Commission believes that 

permitting the Fund to invest up to 20% 

of its net assets in non-exchange traded 

investment company securities would 

not render the Shares susceptible to 

manipulation. The Commission has 

previously approved listing rules for 

other series of Managed Fund Shares 

that permit investments in such 

securities.30

With respect to the proposed 30% 

limit on non-agency, non-GSE and 

privately-issued mortgage-related and 

other asset-backed securities, the 

Commission believes that the proposed 

sub-limits described above, are 

sufficient to diversify the Fund’s 

portfolio of such securities and mitigate 

manipulation concerns. The 

Commission notes that it recently 

approved a similar limit for an issue of 

Managed Fund Shares permitted to 

invest in fixed income securities.31

In support of this proposal, the 

Exchange has also made the following 

representations: 

(1) The Fund will only purchase U.S. 

dollar denominated non-agency ABS 

and MBS that are settled through DTC.32

(2) All statements and representations 

made in this filing regarding (a) the 

description of the portfolio, (b) 

limitations on portfolio holdings or 

reference assets, or (c) the applicability 

of Exchange listing rules specified in 

this rule filing shall constitute 

continued listing requirements for 

listing the Shares on the Exchange.33

(3) The issuer will advise the 

Exchange of any failure by the Fund to 

comply with the continued listing 

requirements, and, pursuant to its 

obligations under Section 19(g)(1) of the 

Act, the Exchange will monitor for 

compliance with the continued listing 

requirements. If the Fund is not in 

compliance with the applicable listing 

requirements, the Exchange will 

commence delisting procedures under 

NYSE Arca Rule 5.5(m)–E.34

(4) The Exchange has appropriate 

rules to facilitate transactions in the 

Shares during all trading sessions.35

(5) The Exchange has in place 

surveillance procedures that are 

adequate to properly monitor trading in 

the Shares in all trading sessions and to 

deter and detect violations of Exchange 

rules and federal securities laws 

applicable to trading on the Exchange.36

(6) For continued listing, the Fund 

will be in compliance with Rule 10A– 

3 under the Act, as provided by NYSE 

Arca Rule 5.3–E.37

This approval order is based on all of 

the Exchange’s representations, 

including those set forth above and in 

the Amendment No. 2. 

For the foregoing reasons, the 

Commission finds that the proposed 


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Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Notices 65389 

38 15 U.S.C. 78f(b)(5). 

39 15 U.S.C. 78s(b)(2). 

40 17 CFR 200.30–3(a)(12). 

rule change, as modified by Amendment 

No. 2, is consistent with Section 6(b)(5) 

of the Act 38 and the rules and 

regulations thereunder applicable to a 

national securities exchange. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,39 that the 

proposed rule change (SR–NYSEArca– 

2018–25), as modified by Amendment 

No. 2, be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.40

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27509 Filed 12–19–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: 83 FR 64630, 17 

December 2018. 

PREVIOUSLY ANNOUNCED TIME AND DATE OF

THE MEETING: Wednesday, December 19, 

2018 at 10:00 a.m. 

CHANGES IN THE MEETING: The following 

item will not be considered during the 

Open Meeting on Wednesday, July 18, 

2018: 

• Whether to issue a Request for 

Comment on nature and content of 

quarterly reports and earnings releases 

issued by reporting companies. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information and to ascertain 

what, if any, matters have been added, 

deleted or postponed, please contact the 

Office of the Secretary at (202) 551– 

5400. 

Dated: December 18, 2018. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2018–27753 Filed 12–18–18; 4:15 pm] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #15838 and #15839; 

CALIFORNIA Disaster Number CA–00296] 

Presidential Declaration of a Major 

Disaster for Public Assistance Only for 

the State of California 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of California (FEMA–4407– 

DR), dated 12/11/2018. 

Incident: Wildfires. 

Incident Period: 11/08/2018 through 

11/25/2018. 

DATES: Issued on 12/11/2018. 

Physical Loan Application Deadline 

Date: 02/11/2019. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 09/11/2019. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

12/11/2018, Private Non-Profit 

organizations that provide essential 

services of a governmental nature may 

file disaster loan applications at the 

address listed above or other locally 

announced locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Butte, Los Angeles, 

Ventura. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations with 

Credit Available Elsewhere ... 2.750 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 2.750 

For Economic Injury: 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 2.750 

The number assigned to this disaster 

for physical damage is 158385 and for 

economic injury is 158390. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

James Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2018–27553 Filed 12–19–18; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #15696 and #15697; 

North Carolina Disaster Number NC–00099] 

Presidential Declaration Amendment of 

a Major Disaster for the State of North 

Carolina 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 8. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for the State of North Carolina 

(FEMA–4393–DR), dated 09/14/2018. 

Incident: Hurricane Florence. 

Incident Period: 09/07/2018 through 

09/29/2018. 

DATES: Issued on 12/13/2018. 

Physical Loan Application Deadline 

Date: 12/19/2018. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 06/14/2019. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for the State of North 

Carolina, dated 09/14/2018, is hereby 

amended to extend the deadline for 

filing applications for physical damages 

as a result of this disaster to 12/19/2018. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

James Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2018–27552 Filed 12–19–18; 8:45 am] 

BILLING CODE 8025–01–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36258] 

Dover and Delaware River Railroad, 

LLC—Lease with Interchange 

Commitment and Trackage Rights 

Exemption—Norfolk Southern Railway 

Company and New Jersey Transit 

Corporation 

Dover and Delaware River Railroad, 

LLC (DDRR), a noncarrier, has filed a 

verified notice of exemption under 49 

CFR 1150.31 to (1) lease from Norfolk 

Southern Railway Company (NS) and 


khammond on DSK30JT082PROD with NOTICES