Federal Register / Vol. 80, No. 34 / Friday, February 20, 2015 / Notices 9301 

32 17 CFR 200.30–3(a)(12). 

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. 62502 

(July 15, 2010), 75 FR 42471 (July 21, 2010) (SR– 

NYSEArca–2010–57) (the ‘‘Prior Order’’). The 

notice with respect to the Prior Order was 

published in Securities Exchange Act Release No. 

62344 (June 21, 2010), 75 FR 37498 (June 29, 2010) 

(‘‘Prior Notice’’ and, together with the Prior Order, 

the ‘‘Prior Release’’). 

5A Managed Fund Share is a security that 

represents an interest in an investment company 

registered under the Investment Company Act of 

1940 (15 U.S.C. 80a–1) (‘‘1940 Act’’) organized as 

an open-end investment company or similar entity 

that invests in a portfolio of securities selected by 

its investment adviser consistent with its 

investment objectives and policies. In contrast, an 

open-end investment company that issues 

Investment Company Units, listed and traded on 

the Exchange under NYSE Arca Equities Rule 

5.2(j)(3), seeks to provide investment results that 

correspond generally to the price and yield 

performance of a specific foreign or domestic stock 

index, fixed income securities index or combination 

thereof. 

6The Trust is registered under the 1940 Act. On 

November 1, 2014, the Trust filed with the 

Commission an amendment to its registration 

statement on Form N–1A under the Securities Act 

of 1933 (15 U.S.C. 77a) and the 1940 Act relating 

to the Fund (File Nos. 333–157876 and 811–22110) 

(the ‘‘Registration Statement’’). The description of 

the operation of the Trust and the Fund herein is 

based, in part, on the Registration Statement. In 

addition, the Commission has issued an order 

granting certain exemptive relief to the Trust under 

the1940 Act. See Investment Company Act Release 

No. 29291 (May 28, 2010) (File No. 812–13677) 

(‘‘Exemptive Order’’). 

7According to the Registration Statement, DRs, 

which include ADRs, GDRs, Euro DRs and NYSs, 

are negotiable securities that generally represent a 

non-U.S. company’s publicly traded equity or debt. 

Depositary Receipts may be purchased in the U.S. 

secondary trading market. They may trade freely, 

just like any other security, either on an exchange 

or in the over-the-counter market. Although 

typically denominated in U.S. dollars, Depositary 

Receipts can also be denominated in Euros. 

Depositary Receipts can trade on all U.S. stock 

exchanges as well as on many European stock 

exchanges. 

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 Web site 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 such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

NYSEArca–2015–04, and should be 

submitted on or before March 13, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.32

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–03519 Filed 2–19–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74271; File No. SR– 

NYSEArca–2015–06] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Regarding the 

AdvisorShares WCM/BNY Mellon 

Focused Growth ADR ETF’s Holdings 

of Non-U.S. Equity Securities 

February 13, 2015. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on February 

3, 2015, NYSE Arca, Inc. (the 

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

the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. 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 change a 

representation regarding the 

AdvisorShares WCM/BNY Mellon 

Focused Growth ADR ETF’s holdings of 

non-U.S. equity securities. Shares of the 

WCM/BNY Mellon Focused Growth 

ADR ETF have been approved for listing 

and trading on the Exchange under 

NYSE Arca Equities Rule 8.600. The text 

of the proposed rule change is available 

on the Exchange’s Web site at 

www.nyse.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 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Commission has approved a 

proposed rule change relating to listing 

and trading on the Exchange of shares 

(‘‘Shares’’) of the AdvisorShares WCM/ 

BNY Mellon Focused Growth ADR ETF 

(the ‘‘Fund’’) under NYSE Arca Equities 

Rule 8.600,4 which governs the listing 

and trading of Managed Fund Shares.5

The Fund’s Shares are currently listed 

and traded on the Exchange under 

NYSE Arca Equities Rule 8.600. 

The Shares are offered by 

AdvisorShares Trust (the ‘‘Trust’’), a 

statutory trust organized under the laws 

of the State of Delaware and registered 

with the Commission as an open-end 

management investment company.6 The 

investment adviser to the Fund is 

AdvisorShares Investments, LLC (the 

‘‘Adviser’’). WCM Investment 

Management (‘‘WCM’’) is the subadviser and portfolio manager to the 

Fund (‘‘Sub-Adviser’’). 

According to the Registration 

Statement, and as stated in the Prior 

Release the Fund’s investment objective 

is long-term capital appreciation above 

international benchmarks such as the 

BNY Mellon Classic ADR Index and the 

MSCI EAFE Index. WCM seeks to 

achieve the Fund’s investment objective 

by selecting a portfolio of U.S. traded 

securities of non-U.S. organizations 

included in the BNY Mellon Classic 

ADR Index. The BNY Mellon Classic 

ADR Index predominantly includes 

American Depositary Receipts (‘‘ADRs’’) 

and in addition includes other 

Depositary Receipts (‘‘DRs’’), which 

include Global Depositary Receipts 

(‘‘GDRs’’), Euro Depositary Receipts 

(‘‘Euro DRs’’) and New York Shares 

(‘‘NYSs’’).7

According to the Prior Release, WCM 

employs a team approach through 

Investment Strategy Group, consisting of 

four senior investment professionals 

(the ‘‘Portfolio Managers’’). This team 

establishes portfolio guidelines for 

sector and industry analysis and 

develops the Fund’s portfolio. The 

Portfolio Managers analyze the major 

trends in the global economy in order to 

identify those economic sectors and 


TKELLEY on DSK3SPTVN1PROD with NOTICES
9302 Federal Register / Vol. 80, No. 34 / Friday, February 20, 2015 / Notices 

8This criterion is applied based on market value 

of securities of the non-U.S. equity securities 

underlying ADRs held by the Fund. 

9See Securities Exchange Act Release Nos. 69915 

(July 2, 2013), 78 FR 41145 (July 9,2013) (SR– 

NYSEArca–2013–56) (order approving listing and 

trading of shares of the PowerShares China A-Share 

Portfolio under NYSE Arca Equities Rule 8.600); 

72665 (July 24, 2014), 79 FR 44236 (July 30, 2014) 

(SR–NYSEArca–2014–59) (order approving listing 

and trading of shares of the AdvisorShares Athena 

High Dividend ETF under NYSE Arca Equities Rule 

8.600; 72882 (August 20, 2014) (SR–NYSEArca– 

2014–58) (order approving listing and trading of 

shares of PIMCO Short-Term Exchange-Traded 

Fund and PIMCO Municipal Bond ExchangeTraded Fund under NYSE Arca Equities Rule 

8.600); 72853 (August 15, 2014) (SR–NYSEArca– 

2014–57) (order approving listing and trading of 

shares of the PIMCO Foreign Bond ExchangeTraded Fund (U.S. Dollar-Hedged), PIMCO Foreign 

Bond Exchange-Traded Fund (Unhedged), PIMCO 

Global Advantage Bond Exchange-Traded Fund, 

and PIMCO International Advantage Bond 

Exchange-Traded Fund under NYSE Arca Equities 

Rule 8.600); 73331(October 9, 2014), 79 FR 62213 

(October 16, 2014) (SR–NYSEArca–2014–104) 

(notice of effectiveness of proposed rule change 

relating to use of derivatives by certain PIMCO 

exchange-traded funds). 

10See note 4, supra. All terms referenced but not 

defined herein are defined in the Prior Release. 

11FINRA surveils trading on the Exchange 

pursuant to a regulatory services agreement. The 

Exchange is responsible for FINRA’s performance 

under this regulatory services agreement. 

12For a list of the current members of ISG, see 

www.isgportal.org. The Exchange notes that not all 

of the components of the portfolio for the Fund may 

trade on exchanges that are members of the ISG or 

with which the Exchange has in place a 

comprehensive surveillance sharing agreement. 

13 15 U.S.C. 78f(b)(5). 

industries that are most likely to benefit. 

According to the Registration Statement, 

typical themes incorporated in the 

Portfolio Managers’ investment process 

include demographics, global 

commerce, outsourcing, the growing 

global middle class and the proliferation 

of technology. A portfolio strategy is 

then implemented that will best 

capitalize on these investment themes 

and subsequent expected growth of the 

underlying assets. The Fund’s portfolio 

will typically have fewer than 30 

companies. All buy and sell decisions 

are made by the Portfolio Managers. The 

Fund will under normal circumstances 

have at least 80% of its total assets 

invested in ADRs. The Fund also may 

invest in other equity securities, 

including common and preferred stock, 

warrants, convertible securities and 

master limited partnerships. As stated 

in the Prior Release, the Fund’s portfolio 

will consist primarily of ADRs and the 

Fund will not invest in non-U.S. equity 

securities outside of U.S. markets. 

According to the Prior Release, the 

composition of the Fund’s portfolio, on 

a continual basis, will be subject to the 

following: (1) Component stocks that in 

the aggregate account for at least 90% of 

the weight of the portfolio each shall 

have a minimum market value of at least 

$100 million; 8 (2) component stocks 

that in the aggregate account for at least 

70% of the weight of the portfolio each 

shall have a minimum global monthly 

trading volume of 250,000 shares, or 

minimum global notional volume traded 

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

the last six months; (3) a minimum of 

20 component stocks of which the most 

heavily weighted component stock shall 

not exceed 25% of the weight of the 

portfolio, and the five most heavily 

weighted component stocks shall not 

exceed 60% of the weight of the 

portfolio; and (4) each non-U.S. equity 

security underlying ADRs held by the 

Fund will be listed and traded on an 

exchange that has last sale reporting. 

As noted above, the Prior Release 

states that the Fund will not invest in 

non-U.S. equity securities outside of 

U.S. markets. The Exchange proposes to 

amend such statement in the Prior 

Release to provide that, going forward, 

the Fund may invest in securities 

outside of U.S. markets, and that not 

more than 10% of the net assets of the 

Fund in the aggregate invested in equity 

securities (excluding non-exchangetraded investment company securities) 

shall consist of equity securities whose 

principal market is not a member of the 

Intermarket Surveillance Group (‘‘ISG’’) 

or is a market with which the Exchange 

does not have a comprehensive 

surveillance sharing agreement. The 

Exchange notes that the Commission 

has previously approved similar 

percentage limitations for other funds 

listed on the Exchange under NYSE 

Arca Equities Rule 8.600.9

Such an increase will provide the 

Fund with the ability to invest to a 

limited extent in non-U.S. equity 

securities outside of U.S. markets and 

therefore will facilitate the Fund’s 

ability to achieve its investment 

objective of long-term capital 

appreciation above international 

benchmarks, as noted above. Except for 

the change described above, all other 

representations made in the Prior 

Release remain unchanged.10 The Fund 

will continue to comply with all initial 

and continued listing requirements 

under NYSE Arca Equities Rule 8.600. 

The Exchange represents that the 

trading in the Shares will be subject to 

the existing trading surveillances, 

administered by the Financial Industry 

Regulatory Authority (‘‘FINRA’’) on 

behalf of the Exchange, which are 

designed to detect violations of 

Exchange rules and applicable federal 

securities laws.11 The Exchange 

represents that these procedures are 

adequate to properly monitor Exchange 

trading of 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. FINRA, on behalf of the 

Exchange, will communicate as needed 

regarding trading in the Shares and 

exchange-listed equity securities 

(including ADRs) with other markets 

and other entities that are members of 

the ISG, and FINRA, on behalf of the 

Exchange, may obtain trading 

information regarding trading in the 

Shares and exchange-listed equity 

securities (including ADRs) from such 

markets and other entities. The 

Exchange may obtain information 

regarding trading in the Shares and 

exchange-listed equity securities 

(including ADRs) from markets and 

other entities that are members of ISG or 

with which the Exchange has in place 

a comprehensive surveillance sharing 

agreement.12 In addition, as stated in the 

Prior Release, investors have ready 

access to information regarding the 

Fund’s holdings, the Portfolio Indicative 

Value, the Disclosed Portfolio, and 

quotation and last sale information for 

the Shares. 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under section 6(b)(5) 13 that an exchange 

have rules that are designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to remove 

impediments to, and perfect the 

mechanism of a free and open market 

and, in general, to protect investors and 

the public interest. 

The Exchange believes that the 

proposed rule change is designed to 

prevent fraudulent and manipulative 

acts and practices in that the Shares will 

be listed and traded on the Exchange 

pursuant to the initial and continued 

listing criteria in NYSE Arca Equities 

Rule 8.600. With respect to the 

representation that the Fund may invest 

in securities outside of U.S. markets and 

that not more than 10% of the net assets 

of the Fund in the aggregate invested in 

equity securities (excluding nonexchange-traded investment company 

securities) shall consist of equity 

securities whose principal market is not 

a member of the ISG or is a market with 

which the Exchange does not have a 

comprehensive surveillance sharing 

agreement, the Exchange believes such 

limitation of assets will not adversely 

impact investors and serves to protect 

investors and the public interest for the 

following reasons. The Commission has 

previously approved such limitations 


TKELLEY on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 34 / Friday, February 20, 2015 / Notices 9303 

14See Securities Exchange Act Release Nos. 

69915 (July 2, 2013), 78 FR 41145 (July 9, 2013) 

(SR–NYSEArca–2013–56) (order approving listing 

and trading of shares of the PowerShares China AShare Portfolio under NYSE Arca Equities Rule 

8.600); 72665 (July 24, 2014), 79 FR 44236 (July 30, 

2014) (SR–NYSEArca–2014–59) (order approving 

listing and trading of shares of the AdvisorShares 

Athena High Dividend ETF under NYSE Arca 

Equities Rule 8.600; 72882 (August 20, 2014) (SR– 

NYSEArca–2014–58) (order approving listing and 

trading of shares of PIMCO Short-Term ExchangeTraded Fund and PIMCO Municipal Bond 

Exchange-Traded Fund under NYSE Arca Equities 

Rule 8.600); 72853 (August 15, 2014) (SR– 

NYSEArca–2014–57) (order approving listing and 

trading of shares of the PIMCO Foreign Bond 

Exchange-Traded Fund (U.S. Dollar-Hedged), 

PIMCO Foreign Bond Exchange-Traded Fund 

(Unhedged), PIMCO Global Advantage Bond 

Exchange-Traded Fund, and PIMCO International 

Advantage Bond Exchange-Traded Fund under 

NYSE Arca Equities Rule 8.600). 

for other funds listed on the Exchange 

under NYSE Arca Equities Rule 8.600.14

Such a representation assures that most 

applicable exchange-traded assets of the 

Fund will be assets whose principal 

market is an ISG member or a market 

with which the Exchange has a 

comprehensive surveillance sharing 

agreement. 

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 applicable federal securities 

laws. The Exchange may obtain 

information via the ISG from other 

exchanges that are members of ISG or 

with which the Exchange has entered 

into a comprehensive surveillance 

sharing agreement. 

The proposed rule change is designed 

to promote just and equitable principles 

of trade and to protect investors and the 

public interest in that the net asset value 

(‘‘NAV’’) per Share is calculated daily 

and that the NAV and the Disclosed 

Portfolio is made available to all market 

participants at the same time. In 

addition, a large amount of information 

is publicly available regarding the Fund 

and the Shares, thereby promoting 

market transparency. The Portfolio 

Indicative Value, as defined in NYSE 

Arca Equities Rule 8.600 (c)(3), is 

disseminated by one or more major 

market data vendors at least every 15 

seconds during the Exchange’s Core 

Trading Session. On a daily basis, the 

Adviser discloses for each portfolio 

security or other financial instrument of 

the Fund the following information: 

ticker symbol (if applicable), name of 

security or financial instrument, number 

of shares or dollar value of financial 

instruments held in the portfolio, and 

percentage weighting of the security or 

financial instrument in the portfolio. 

The Fund’s holdings are disclosed on its 

Web site daily after the close of trading 

on the Exchange and prior to the 

opening of trading on the Exchange the 

following day. Information regarding 

market price and trading volume of the 

Shares is and will be continually 

available on a real-time basis throughout 

the day on brokers’ computer screens 

and other electronic services, and 

quotation and last sale information is 

available via the Consolidated Tape 

Association high-speed line. Price 

information regarding the Fund’s equity 

investments is available from major 

market data vendors. The intra-day, 

closing and settlement prices for 

exchange-listed equity securities held 

by the Fund are also readily available 

from the national securities exchanges 

trading such securities. Trading in 

Shares of the Fund will be halted if the 

circuit breaker parameters in NYSE Arca 

Equities Rule 7.12 have been reached or 

because of market conditions or for 

reasons that, in the view of the 

Exchange, make trading in the Shares 

inadvisable. Trading in the Shares is 

subject to NYSE Arca Equities Rule 

8.600(d)(2)(D), which sets forth 

circumstances under which Shares of 

the Fund may be halted. The Web site 

for the Fund includes a form of the 

prospectus for the Fund and additional 

data relating to NAV and other 

applicable quantitative information. In 

addition, as stated in the Prior Notice, 

investors have ready access to 

information regarding the Fund’s 

holdings, the Portfolio Indicative Value, 

the Disclosed Portfolio, and quotation 

and last sale information for the Shares. 

The proposed rule change is designed 

to perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest. As 

noted above, the Exchange represents 

that the trading in the Shares will be 

subject to the existing trading 

surveillances, administered by FINRA 

on behalf of the Exchange, which are 

designed to detect violations of 

Exchange rules and applicable federal 

securities laws. The Exchange 

represents that these procedures are 

adequate to properly monitor Exchange 

trading of 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. FINRA, on behalf of the 

Exchange, will communicate as needed 

regarding trading in the Shares and 

exchange-listed equity securities 

(including ADRs) with other markets 

and other entities that are members of 

the ISG, and FINRA, on behalf of the 

Exchange, may obtain trading 

information regarding trading in the 

Shares and exchange-listed equity 

securities (including ADRs) from such 

markets and other entities. In addition, 

the Exchange may obtain information 

regarding trading in the Shares and 

exchange-listed equity securities 

(including ADRs) from markets and 

other entities that are members of ISG or 

with which the Exchange has in place 

a comprehensive surveillance sharing 

agreement. In addition, as stated in the 

Prior Release, investors have ready 

access to information regarding the 

Fund’s holdings, the Portfolio Indicative 

Value, the Disclosed Portfolio, and 

quotation and last sale information for 

the Shares. The Adviser represents that 

the proposed change, as described 

above, is consistent with the Fund’s 

investment objective, and will further 

assist the Adviser and Sub-Adviser to 

achieve such investment objective. Such 

an increase may further the public 

interest by providing the Fund with 

additional flexibility to achieve longterm capital appreciation above 

international benchmarks. 

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 purpose of the Act. The Exchange 

believes the proposed rule change is 

designed to broaden the range of 

securities in which the Fund may invest 

to include non-U.S. securities, thereby 

helping the Fund to achieve its 

investment objective, and will enhance 

competition among issues of Managed 

Fund Shares that invest in equity 

securities. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to 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: (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, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to section 19(b)(3)(A) 


TKELLEY on DSK3SPTVN1PROD with NOTICES
9304 Federal Register / Vol. 80, No. 34 / Friday, February 20, 2015 / Notices 

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

16 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

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

the Commission written notice of its intent to file 

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. 17 17 CFR 200.30–3(a)(12). 

of the Act 15 and Rule 19b–4(f)(6)(iii) 

thereunder.16

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. 

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– 

NYSEArca–2015–06 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEArca–2015–06. 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 Web site (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 Web site 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 such 

filing will also be available for 

inspection and copying at the principal 

office of the Exchange and on its 

Internet Web site at www.nyse.com. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NYSEArca–2015–06 and 

should be submitted on or before March 

13, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–03516 Filed 2–19–15; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Motor Carrier Safety 

Administration 

[Docket No. FMCSA–2014–0299] 

Qualification of Drivers; Exemption 

Applications; Vision 

AGENCY: Federal Motor Carrier Safety 

Administration (FMCSA), DOT. 

ACTION: Notice of final disposition. 

SUMMARY: FMCSA announces its 

decision to exempt 24 individuals from 

the vision requirement in the Federal 

Motor Carrier Safety Regulations 

(FMCSRs). They are unable to meet the 

vision requirement in one eye for 

various reasons. The exemptions will 

enable these individuals to operate 

commercial motor vehicles (CMVs) in 

interstate commerce without meeting 

the prescribed vision requirement in 

one eye. The Agency has concluded that 

granting these exemptions will provide 

a level of safety that is equivalent to or 

greater than the level of safety 

maintained without the exemptions for 

these CMV drivers. 

DATES: The exemptions were granted 

January 10, 2015. The exemptions 

expire on January 10, 2017. 

FOR FURTHER INFORMATION CONTACT: 

Charles A. Horan, III, Director, Carrier, 

Driver and Vehicle Safety Standards, 

(202) 366–4001, fmcsamedical@dot.gov, 

FMCSA, Department of Transportation, 

1200 New Jersey Avenue SE., Room 

W64–224, Washington, DC 20590–0001. 

Office hours are from 8:30 a.m. to 5 

p.m., Monday through Friday, except 

Federal holidays. If you have questions 

on viewing or submitting material to the 

docket, contact Docket Services, 

telephone (202) 366–9826. 

SUPPLEMENTARY INFORMATION: 

I. Electronic Access 

You may see all the comments online 

through the Federal Document 

Management System (FDMS) at http://

www.regulations.gov. 

Docket: For access to the docket to 

read background documents or 

comments, go to http://

www.regulations.gov and/or Room 

W12–140 on the ground level of the 

West Building, 1200 New Jersey Avenue 

SE., Washington, DC, between 9 a.m. 

and 5 p.m., Monday through Friday, 

except Federal holidays. 

Privacy Act: In accordance with 5 

U.S.C. 553(c), DOT solicits comments 

from the public to better inform its 

rulemaking process. DOT posts these 

comments, without edit, including any 

personal information the commenter 

provides, to www.regulations.gov, as 

described in the system of records 

notice (DOT/ALL–14 FDMS), which can 

be reviewed at www.dot.gov/privacy. 

II. Background 

On December 10, 2014, FMCSA 

published a notice of receipt of 

exemption applications from certain 

individuals, and requested comments 

from the public (79 FR 73397). That 

notice listed 24 applicants’ case 

histories. The 24 individuals applied for 

exemptions from the vision requirement 

in 49 CFR 391.41(b)(10), for drivers who 

operate CMVs in interstate commerce. 

Under 49 U.S.C. 31136(e) and 31315, 

FMCSA may grant an exemption for a 2- 

year period if it finds ‘‘such exemption 

would likely achieve a level of safety 

that is equivalent to or greater than the 

level that would be achieved absent 

such exemption.’’ The statute also 

allows the Agency to renew exemptions 

at the end of the 2-year period. 

Accordingly, FMCSA has evaluated the 

24 applications on their merits and 

made a determination to grant 

exemptions to each of them. 

III. Vision and Driving Experience of 

the Applicants 

The vision requirement in the 

FMCSRs provides: 

A person is physically qualified to 

drive a commercial motor vehicle if that 

person has distant visual acuity of at 

least 20/40 (Snellen) in each eye 

without corrective lenses or visual 

acuity separately corrected to 20/40 

(Snellen) or better with corrective 

lenses, distant binocular acuity of a least 

20/40 (Snellen) in both eyes with or 


TKELLEY on DSK3SPTVN1PROD with NOTICES