Federal Register / Vol. 82, No. 159 / Friday, August 18, 2017 / Notices 39473 

11 15 U.S.C. 78s(b)(3)(A)(iii). 

12 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, 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. The 

Exchange has satisfied this requirement. 

13 17 CFR 240.19b–4(f)(6). 

14 17 CFR 240.19b–4(f)(6)(iii). 

15For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

16 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

of the purposes of the Act. The 

proposed rule change is not designed to 

address any competitive issue but rather 

would provide members and other 

market participants with information 

about when Nasdaq will utilize its 

Secondary Source of data. The Exchange 

believes that this change will increase 

transparency around the operation of 

the Exchange without any significant 

impact on competition. 

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 11 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.12

A proposed rule change filed 

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

Act 13 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 14

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay. The Commission 

believes that waiving the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest as it will allow the Exchange to 

clarify the conditions under which the 

Secondary Source of data may be 

elected and increase transparency of the 

operation of the Exchange. Accordingly, 

the Commission hereby waives the 

operative delay and designates the 

proposal operative upon filing.15

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– 

NASDAQ–2017–082 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–2017–082. 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 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; 

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– 

NASDAQ–2017–082 and should be 

submitted on or before September 8, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17435 Filed 8–17–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81387; File No. SRBatsBZX–2017–50] 

Self-Regulatory Organizations; Bats 

BZX Exchange, Inc.; Notice of Filing of 

a Proposed Rule Change To Extend 

the Implementation Date For Certain 

Changes to Exchange Rules 14.11 and 

14.12 

August 14, 2017. 

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 July 31, 

2017, Bats BZX Exchange, Inc. 

(‘‘Exchange’’ or ‘‘BZX’’) 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 filed a proposal to 

extend the date on which certain 

changes to Exchange Rules 14.11 and 

14.12 would be implemented. 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at www.bats.com, at the principal office 

of the Exchange, and at the 

Commission’s Public Reference Room. 

mstockstill on DSK30JT082PROD with NOTICES

39474 Federal Register / Vol. 82, No. 159 / Friday, August 18, 2017 / Notices 

3See Securities Exchange Act Release No. 80169 

(March 7, 2017), 82 FR 13536 (March 13, 2017) (SRBatsBZX–2016–80). 

4See, for example, Letter, dated July 11, 2017, 

from Dorothy Donohue, Acting General Counsel, 

Investment Company Institute to Brent J. Fields, 

Secretary, Securities and Exchange Commission, 

available at https://www.sec.gov/comments/srnasdaq-2016-135/nasdaq2016135-1846208- 

155175.pdf. 

5 15 U.S.C. 78f [sic]. 

6 15 U.S.C. 78f(b)(5). 7See Footnote 4, infra. [sic] 

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 parts of such 

statements. 

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On November 18, 2016 the Exchange 

filed a proposed rule change, as 

subsequently amended by Amendments 

No. 1 and 2 thereto (as amended, the 

‘‘Proposed Rule Change’’), to adopt 

certain changes to Exchange Rules 14.11 

and 14.12 to add additional continued 

listing standards for exchange-traded 

products (‘‘ETP’’) as well as clarify the 

procedures that the Exchange will 

undertake when an ETP is 

noncompliant with applicable rules. 

Given the scope of the amendments 

specified in the Proposed Rule Change, 

the Exchange proposed that such 

amendments not be implemented until 

October 1, 2017. On March 7, 2017, the 

Commission granted approval of the 

Proposed Rule Change, including the 

October 1, 2017 implementation date. 

The Exchange now proposes to extend 

the implementation date of the 

amendments specified in the Proposed 

Rule Change to July 1, 2018.3

Since the Proposed Rule Change was 

approved, the Exchange has engaged in 

extensive conversations with issuers of 

listed ETPs, industry advocacy groups 

and index providers to discuss the new 

rule requirements and offer guidance on 

rule interpretation and application. As a 

result of these conversations, ETP 

issuers have expressed concern about 

their ability to have in place systems 

and procedures to ensure compliance by 

the current October 1, 2017 

implementation date. In particular, 

listed ETP issuers, and industry 

advocacy groups on their behalf, have 

explained that issuers will require time 

to design and test new compliance 

systems as well as engage in discussions 

with third-party providers to source and 

track new data elements required for 

rule compliance.4

The Exchange believes it is 

appropriate to extend the 

implementation date of the Proposed 

Rule Change to July 1, 2018 to provide 

listed ETP issuers with the time needed 

to develop and test their compliance 

procedures. In support of its proposal, 

the Exchange notes that the Proposed 

Rule Change imposes significant new 

compliance requirements on issuers that 

they have not been subject to 

previously. To meet these new 

compliance requirements, issuers must 

develop internal systems as well as 

coordinate with third-party service 

providers, such as index providers, to 

develop procedures by which they can 

obtain essential data. Listed issuers have 

informed the Exchange that they are 

unable to complete this extensive 

project by the pending October 1, 2017 

implementation date. The Exchange 

believes that it is critical for listed ETP 

issuers to have the appropriate 

procedures and systems in place to 

monitor and evidence ETP compliance 

with the new continued listing rules 

before such rules are implemented. 

Therefore, the Exchange proposes to 

extend the implementation date for the 

Proposed Rule Change until July 1, 

2018. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with Section 6(b) 

of the Act 5 in general and Section 

6(b)(5) of the Act 6 in particular in that 

it is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 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. 

The Exchange believes that the 

proposed amendment is consistent with 

the protection of investors because it 

will enable listed issuers to have the 

systems and procedures needed to 

monitor and evidence compliance with 

the Proposed Rule Change prior to such 

rule being implemented. Providing 

listed issuers with additional time to 

ensure that they have adequate 

compliance systems in place furthers 

the protection of investors and the 

public interest because it will enhance 

investor confidence that listed issuers 

are complying with Exchange rules. 

For the above reasons, the Exchange 

believes that the proposed rule change 

is consistent with the requirements of 

Section 6(b)(5) of the Act. 

(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 

notes that the proposed rule change will 

facilitate listed ETP issuers’ ability to 

monitor and evidence compliance with 

approved continued listing rules by 

providing issuers with additional time 

to develop and test their internal 

systems and procedures prior to the 

implementation date. 

(C) Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange received a copy of a 

letter from the Investment Company 

Institute, on behalf of listed ETP issuers, 

to the Securities Exchange [sic] 

Commission.7 As described in Item 3 

[sic], above, the Investment Company 

Institute detailed challenges that listed 

ETP issuers are facing in developing 

compliance systems to address the 

amendments contained in the Proposed 

Rule Change and have requested that 

the implementation date for such 

amendments be extended to July 1, 

2018. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding, or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) By order approve or disapprove 

the proposed rule change; or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

mstockstill on DSK30JT082PROD with NOTICES

Federal Register / Vol. 82, No. 159 / Friday, August 18, 2017 / Notices 39475 

8 17 CFR 200.30–3(a)(12). 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposal 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 No. SR– 

BatsBZX–2017–50 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 No. 

SR–BatsBZX–2017–50. 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. 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 No. SR–BatsBZX– 

2017–50 and should besubmitted on or 

before September 8, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17432 Filed 8–17–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Electronic Data Collection System, SEC 

File No. 270–621, OMB Control No. 

3235–0672 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit an extension for this 

current collection of information to the 

Office of Management and Budget for 

approval. 

The Commission invites comment on 

updates to its Electronic Data Collection 

System database (the Database), which 

will support information provided by 

members of the public who would like 

to file an online tip, complaint or 

referral (TCR) to the Commission. The 

Database will be a web based e-filed 

dynamic report based on technology 

that pre-populates and establishes a 

series of questions based on the data 

that the individual enters. The 

individual will then complete specific 

information on the subject(s) and nature 

of the suspicious activity, using the data 

elements appropriate to the type of 

complaint or subject. The information 

collection is voluntary. The public 

interface to the Database will be 

available using the agency’s Web site, 

www.sec.gov. The Commission 

estimates that it takes a complainant, on 

average, 30 minutes to submit a TCR 

through the Database. Based on the 

receipt of an average of approximately 

16,000 annual TCRs for the past three 

fiscal years, the Commission estimates 

that the annual reporting burden is 

8,000 hours. 

Written comments are invited on: (a) 

Whether this collection of information 

is necessary for the proper performance 

of the functions of the agency, including 

whether the information will have 

practical utility; (b) the accuracy of the 

agency’s estimate of the burden imposed 

by 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. 

Background documentation for this 

information collection may be viewed at 

the following Web site: 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

100 F St. NE., Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: August 15, 2017. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17503 Filed 8–17–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

32778; File No. 812–14748] 

Advanced Series Trust, et al. 

August 15, 2017. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of an application for an order 

under section 12(d)(1)(J) of the 

Investment Company Act of 1940 (the 

‘‘Act’’) for an exemption from sections 

12(d)(1)(A), (B), and (C) of the Act and 

under sections 6(c) and 17(b) of the Act 

for an exemption from sections 17(a)(1) 

and (2) of the Act. The requested order 

would permit certain registered openend investment companies to acquire 

shares of certain registered open-end 

investment companies, registered 

closed-end investment companies, and 

business development companies, as 

defined in section 2(a)(48) of the Act 

(‘‘BDCs’’) and registered unit investment 

trusts (collectively, ‘‘Underlying 

Funds’’), that are within and outside the 

same group of investment companies as 

the acquiring investment companies, in 

mstockstill on DSK30JT082PROD with NOTICES