2276 Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices 

1Although the rules under Section 8(b) of the 

Investment Company Act are generally procedural 

in nature, two of the rules require respondents to 

disclose some limited information. Rule 8b–3 (17 

CFR 270.8b–3) provides that whenever a 

registration form requires the title of securities to 

be stated, the registrant must indicate the type and 

general character of the securities to be issued. Rule 

8b–22 (17 CFR 270.8b–22) provides that if the 

existence of control is open to reasonable doubt, the 

registrant may disclaim the existence of control, but 

it must state the material facts pertinent to the 

possible existence of control. The information 

required by both of these rules is necessary to 

insure that investors have clear and complete 

information upon which to base an investment 

decision. 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78f(b). 

4 15 U.S.C. 78f(b)(5). 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

Rules 8b–1 to 8b–33 (17 CFR 270.8b– 

1 to 8b–33) under the Investment 

Company Act of 1940 (15 U.S.C. 80a–1 

et seq.) (‘‘Investment Company Act’’) set 

forth the procedures for preparing and 

filing a registration statement under the 

Investment Company Act. These 

procedures are intended to facilitate the 

registration process. These rules 

generally do not require respondents to 

report information.1

The Commission believes that it is 

appropriate to estimate the total 

respondent burden associated with 

preparing each registration statement 

form rather than attempt to isolate the 

impact of the procedural instructions 

under Section 8(b) of the Investment 

Company Act, which impose burdens 

only in the context of the preparation of 

the various registration statement forms. 

Accordingly, the Commission is not 

submitting a separate burden estimate 

for rules 8b–1 through 8b–33, but 

instead will include the burden for 

these rules in its estimates of burden for 

each of the registration forms under the 

Investment Company Act. The 

Commission is, however, submitting an 

hourly burden estimate of one hour for 

administrative purposes. 

The collection of information under 

rules 8b–1 to 8b–33 is mandatory. The 

information provided under rules 8b–1 

to 8b–33 is not kept confidential. An 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a currently valid OMB control 

number. 

Written comments are invited on: (a) 

Whether the collection of information is 

necessary for the proper performance of 

the functions of the Commission, 

including whether the information has 

practical utility; (b) the accuracy of the 

Commission’s estimate of the burden of 

the collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

Please direct your written comments 

to Pamela Dyson, Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O Remi 

Pavlik-Simon, 100 F Street NE, 

Washington, DC 20549; or send an email 

to: PRA_Mailbox@sec.gov. 

Dated: January 9, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–00494 Filed 1–12–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82470; File No. SR–Phlx– 

2018–05] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend a CrossReference in Rule 1017 (Openings in 

Options) 

January 9, 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 January 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 the Substance 

of the Proposed Rule Change 

The Exchange proposes to amend a 

cross-reference in Rule 1017, entitled 

‘‘Openings in Options.’’ 

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 

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 amend a 

cross-reference in Rule 1017, entitled 

‘‘Openings in Options.’’ Specifically, the 

Exchange proposes to amend 1017(h) 

which currently states, ‘‘In addition, 

paragraphs (i)(iii) and (j)(5)–(7) below 

contain additional provisions related to 

Potential Opening Price.’’ The first 

citation is incomplete and contains a 

non-existent reference. The Exchange 

proposes to amend the sentence to state, 

‘‘In addition, paragraphs (i)(A)(iii) and 

(j)(5)–(7) below contain additional 

provisions related to Potential Opening 

Price.’’ The reference is to the phrase, 

‘‘The Exchange will open the option 

series for trading with a trade on 

Exchange interest only at the Opening 

Price, if any of these conditions occur 

where there is no ABBO, the Potential 

Opening Price is at or within the PreMarket BBO which is also a Quality 

Opening Market.’’ The reference was 

intended to act as a roadmap within the 

rule to direct the reader to the possible 

outcomes in the Opening Process. 

The Exchange believes that this nonsubstantive rule change will bring 

greater clarity to the rule text by 

providing the intended guidance 

concerning the manner in which the 

Exchange could calculate the Potential 

Opening Price. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,3 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,4

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 


daltland on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices 2277 

5 15 U.S.C. 78s(b)(3)(A)(iii). 

6 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written notice of its intent to file 

the proposed rule change, along with a brief 

description and the 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. 

7 17 CFR 240.19b–4(f)(6)(iii). 

8For 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). 9 17 CFR 200.30–3(a)(12). 

open market and a national market 

system, and, in general to protect 

investors and the public interest, by 

correcting a citation within Rule 1017 

which is currently inaccurate. Rule 

1017(h) contains a sentence which was 

intended to act as a roadmap within the 

rule to direct the reader to the possible 

outcomes in the Opening Process. The 

Exchange believes that the amendment 

is consistent with the Act because it will 

amend the rule text to properly specify 

the intended guidance concerning the 

manner in which the Exchange could 

calculate the Potential Opening Price. 

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 not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange believes that this nonsubstantive rule change will not impose 

an undue burden on competition, rather 

it will bring greater clarity to the rule 

text [sic] 

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)(iii) of the Act 5 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.6

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of its filing. However, Rule 19b– 

4(f)(6)(iii) 7 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 

will become operative upon filing. The 

Commission believes that waiver of the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest because the proposal 

does not raise any novel issues and 

waiver will allow the Exchange to 

correct the erroneous cross-reference 

without delay. Therefore, the 

Commission hereby waives the 

operative delay and designates the 

proposed rule change operative upon 

filing.8

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) 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 

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–2018–05 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–Phlx–2018–05. 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–2018–05, and should 

be submitted on or before February 6, 

2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–00527 Filed 1–12–18; 8:45 am] 

BILLING CODE 8011–01–P 


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