29594 Federal Register / Vol. 83, No. 122 / Monday, June 25, 2018 / Notices 

7 15 U.S.C. 78s(b)(3)(A). 

8 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. 

9 17 CFR 240.19b–4(f)(6). 

10 17 CFR 240.19b–4(f)(6)(iii). 

11See supra note 4. 

12For 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). 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 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 7 and Rule 19b– 

4(f)(6) thereunder.8

A proposed rule change filed 

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

Act 9 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 10

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 

requested that the Commission waive 

the 30-day operative delay so that the 

proposed rule change may become 

operative upon filing. The proposed rule 

change merely relocates the Exchange’s 

co-location and direct connectivity 

rules, updates rule cross-references, and 

removes expired waiver language.11

Accordingly, 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 operative delay and 

designates the proposed rule change 

operative upon filing.12

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– 

NASDAQ–2018–045 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–NASDAQ–2018–045. 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–NASDAQ–2018–045, and 

should be submitted on or before July 

16, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–13507 Filed 6–22–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83465; File No. SR–Phlx– 

2018–46] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Relocate the 

Exchange’s Rules Pertaining to CoLocation and Direct Connectivity 

June 19, 2018. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on June 5, 

2018, Nasdaq PHLX LLC (‘‘Phlx’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. 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 to relocate the 

Exchange’s rules pertaining to colocation and direct connectivity, which 

are presently at Sections X and XI of the 

Exchange’s Pricing Schedule, to the 

Exchange’s new rulebook shell, entitled 

‘‘General Equity and Options Rules,’’ at 

new General 8 (‘‘Connectivity’’), 

Sections 1 and 2, respectively. 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://nasdaqphlx.cchwallstreet.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 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 


amozie on DSK3GDR082PROD with NOTICES1
Federal Register / Vol. 83, No. 122 / Monday, June 25, 2018 / Notices 29595 

3Recently, the Exchange added a shell structure 

to its Rulebook with the purpose of improving 

efficiency and readability and to align its rules 

closer to those of its five sister exchanges: The 

Nasdaq Stock Exchange, LLC; Nasdaq BX, Inc.; 

Nasdaq ISE, LLC; Nasdaq GEMX, LLC; and Nasdaq 

MRX, LLC (together with Phlx, the ‘‘Affiliated 

Exchanges’’). See Securities Exchange Act Release 

No. 82169 (November 29, 2017), 82 FR 57508 

(December 5, 2017) (SR–Phlx–2017–97). 

4 15 U.S.C. 78f(b). 

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

6 15 U.S.C. 78s(b)(3)(A). 

7 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. 

8 17 CFR 240.19b–4(f)(6). 

9 17 CFR 240.19b–4(f)(6)(iii). 

10For 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). 

proposed rule change. The text of these 

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 aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to relocate its 

rules governing co-location and direct 

connectivity services, which presently 

comprise Sections X and XI of the 

Exchange’s Pricing Schedule, 

respectively. The Exchange proposes to 

establish, within its new rulebook 

shell,3 a new General 8 heading, entitled 

‘‘Connectivity,’’ to renumber Section X 

as Section 1 thereunder, and to 

renumber Section XI as Section 2 

thereunder. The Exchange furthermore 

proposes to amend Sections VIII and 

XIII of the Pricing Schedule to update 

cross references therein to Sections X 

and XI. It corrects spelling errors in the 

existing text. The Exchange also 

proposes to update internal crossreferences in the renumbered Rules. 

The Exchange considers it appropriate 

to relocate these Rules to better organize 

its Rulebook. The other Affiliated 

Exchanges intend to propose similar 

reorganizations of their co-location and 

direct connectivity rules so that these 

rules will be harmonized among all of 

the Affiliated Exchanges. 

The relocation of the co-location and 

direct connectivity rules is part of the 

Exchange’s continued effort to promote 

efficiency and conformity of its 

processes with those of its Affiliated 

Exchanges. The Exchange believes that 

moving the co-location and direct 

connectivity rules to their new location 

will facilitate the use of the Rulebook by 

Members of the Exchange who are 

members of other Affiliated Exchanges. 

Moreover, the proposed changes are of 

a non-substantive nature and will not 

amend the relocated rules other than to 

update their numbers and make 

conforming cross-reference changes. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,4 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,5

in particular, in that it is designed to 

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, by 

improving the way its Rulebook is 

organized, providing ease of reference in 

locating co-location and direct 

connectivity rules, and harmonizing the 

Exchange’s Rules with those of the other 

Affiliated Exchanges. As previously 

stated, the proposed Rule relocation is 

non-substantive. 

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 intermarket or intramarket competition that is not necessary 

or appropriate in furtherance of the 

purposes of the Act. The proposed 

changes do not impose a burden on 

competition because, as previously 

stated, they (i) are of a non-substantive 

nature, (ii) are intended to harmonize 

the Exchange’s rules with those of its 

Affiliated Exchanges, and (iii) are 

intended to organize the Rulebook in a 

way that it will ease the Members’ 

navigation and reading of the rules 

across the Affiliated Exchanges. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 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 6 and Rule 19b– 

4(f)(6) thereunder.7

A proposed rule change filed 

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

Act 8 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 9

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 

requested that the Commission waive 

the 30-day operative delay so that the 

proposed rule change may become 

operative upon filing. The proposed rule 

change merely relocates the Exchange’s 

co-location and direct connectivity 

rules, updates rule cross-references, and 

corrects spelling errors. Accordingly, 

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 

operative delay and designates the 

proposed rule change operative upon 

filing.10

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– 

Phlx–2018–46 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 


amozie on DSK3GDR082PROD with NOTICES1
29596 Federal Register / Vol. 83, No. 122 / Monday, June 25, 2018 / Notices 

11 17 CFR 200.30–3(a)(12). 

1Each of AXA Advisors, AXA Distributors, ALPS 

Distributors, and ABI are registered with the 

Commission as broker-dealers and are members of 

the Financial Industry Regulatory Authority. 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR-Phlx-2018–46. 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–Phlx–2018–46, and should 

be submitted on or before July 16, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–13506 Filed 6–22–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

33126; 812–14734] 

AXA Equitable Life Insurance 

Company, et al. 

June 19, 2018. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of Application for an order 

approving the terms of certain offers of 

exchange pursuant to section 11 of the 

Investment Company Act of 1940, as 

amended (the ‘‘1940 Act’’). Applicants 

request an order approving the terms of 

certain offers of exchange between 

certain separate accounts supporting 

variable annuity contracts and certain 

registered open-end management 

investment companies. 

APPLICANTS: AXA Equitable Life 

Insurance Company (‘‘AXA Equitable’’), 

a New York stock life insurance 

company; Separate Account A of AXA 

Equitable Life Insurance Company 

(‘‘Separate Account A’’), registered 

under the 1940 Act as a unit investment 

trust and a ‘‘separate account’’ as 

defined in section 2(a)(37) of the 1940 

Act; AXA Advisors, LLC (‘‘AXA 

Advisors’’); AXA Distributors, LLC 

(‘‘AXA Distributors’’); ALPS 

Distributors, Inc. (‘‘ALPS Distributors’’); 

and AllianceBernstein Investments, Inc. 

(‘‘ABI’’ and, together with AXA 

Equitable, Separate Account A, AXA 

Advisors, AXA Distributors, ALPS 

Distributors, and ABI, the 

‘‘Applicants’’).1

FILING DATES: The application was filed 

on January 10, 2017, and amended on 

June 23, 2017; November 21, 2017; and 

April 10, 2018. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the application will be 

issued unless the Commission orders a 

hearing. Interested persons may request 

a hearing by writing to the 

Commission’s Secretary and serving the 

Applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on Monday, July 16, 2018 

and should be accompanied by proof of 

service on the Applicants, in the form 

of an affidavit or, for lawyers, a 

certificate of service. Pursuant to rule 0– 

5 under the 1940 Act, hearing requests 

should state the nature of the writer’s 

interest, any facts bearing upon the 

desirability of a hearing on the matter, 

the reason for the request, and the issues 

contested. Persons who wish to be 

notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 

ADDRESSES: Secretary, U.S. Securities 

and Exchange Commission, 100 F Street 

NE, Washington, DC 20549–1090. 

Applicants: Shane Daly, AXA Equitable 

Life Insurance Company, 1290 Avenue 

of the Americas, New York, NY 10104; 

and Christopher E. Palmer, Esq., and 

Andrew L. Zutz, Esq., Goodwin Proctor 

LLP, 901 New York Avenue NW, 

Washington, DC 20001. 

FOR FURTHER INFORMATION CONTACT: 

James D. McGinnis, Senior Counsel, at 

(202) 551–3025, or Parisa Haghshenas, 

Branch Chief, at (202) 551–6723 

(Division of Investment Management, 

Chief Counsel’s Office). 

SUPPLEMENTARY INFORMATION: The 

following is a summary of the 

application. The complete application 

may be obtained via the Commission’s 

website by searching for the file 

number, or an applicant using the 

Company name box, at http://

www.sec.gov/search/search.htm or by 

calling (202) 551–8090. 

Summary of the Application 

1. Applicants seek an order on behalf 

of AXA Equitable and any current or 

future affiliated life insurance company 

(each, an ‘‘Insurance Company’’ and, 

collectively, the ‘‘Insurance 

Companies’’), Separate Account A and 

any current or future separate account of 

an Insurance Company (each, a 

‘‘Separate Account’’ and, collectively, 

the ‘‘Separate Accounts’’), and AXA 

Advisors, AXA Distributors, ALPS 

Distributors, ABI, and any current or 

future broker-dealer serving as principal 

underwriter of variable annuity 

contracts issued by an Insurance 

Company or registered open-end 

management investment companies 

advised by an affiliate of an Insurance 

Company. 

2. Separate Account A is registered 

under the 1940 Act as a unit investment 

trust for the purpose of funding certain 

variable annuity contracts issued by 

AXA Equitable (any such contract and 

any other current or future variable 

annuity contract issued by an Insurance 

Company that is funded by a Separate 

Account is hereinafter referred to as a 

‘‘Contract’’ and collectively, the 

‘‘Contracts’’). Security interests under 

the Contracts have been registered 

under the Securities Act of 1933. The 

Contracts currently offer various 

subaccounts of Separate Account A, 

each of which invests exclusively in a 

single corresponding portfolio of EQ 

Advisors Trust or AXA Premier VIP 

Trust (together, the ‘‘Affiliated Trusts’’) 

or certain unaffiliated trusts (the 

‘‘Unaffiliated Trusts’’ and collectively 

with the Affiliated Trusts, the ‘‘Trusts’’). 

The Trusts are registered under the 1940 

Act as open-end management 

investment companies with multiple 

separate series or portfolios. The 

Contracts may offer additional 

subaccounts of Separate Account A or 

any other Separate Account in the 

future, each of which may invest in any 


amozie on DSK3GDR082PROD with NOTICES1