Federal Register / Vol. 82, No. 161 / Tuesday, August 22, 2017 / Notices 39929 

19 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. 80189 

(March 9, 2017), 82 FR 13889 (March 15, 2017) (SR– 

NYSEArca–2017–01). 

5See, 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- 

5175.pdf. [sic] 

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–2017–67. 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–Phlx– 

2017–67, and should be submitted on or 

before September 12, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17685 Filed 8–21–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81411; File No. SR– 

NYSEArca–2017–84] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change To Extend the 

Implementation Date for Certain 

Changes to the NYSE Arca Rule 5 and 

Rule 8 Series 

August 16, 2017. 

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

Securities Exchange Act of 1934 

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

notice is hereby given that on August 3, 

2017, NYSE Arca, Inc. (‘‘Exchange’’ or 

‘‘NYSE Arca’’) 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 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 extend the 

date on which certain changes to the 

NYSE Arca Rule 5 and Rule 8 series are 

implemented. The proposed 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 

On January 6, 2017, 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 the NYSE Arca Rules 

5 and 8 series to add additional 

continued listing standards for 

exchange-traded funds (‘‘ETFs’’) as well 

as clarify the procedures that the 

Exchange will undertake when an ETF 

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 9, 2017, the 

Commission granted accelerated 

approval of the Proposed Rule Change, 

including the October 1, 2017 

implementation date.4 The Exchange 

now proposes to extend the 

implementation date of the amendments 

specified in the Proposed Rule Change 

to July 1, 2018. 

Since the Proposed Rule Change was 

approved, the Exchange has engaged in 

extensive conversations with issuers of 

listed ETFs, 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, ETF 

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 ETF 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.5

The Exchange believes it is 

appropriate to extend the 

implementation date of the Proposed 

Rule Change to July 1, 2018 to provide 

listed ETF 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 


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39930 Federal Register / Vol. 82, No. 161 / Tuesday, August 22, 2017 / Notices 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 8See Footnote 5, supra. 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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 ETFs 

issuers to have the appropriate 

procedures and systems in place to 

monitor and evidence ETF 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 

proposed rule change is consistent with 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Sections [sic] 

6(b)(5) 7 of the Act, in particular, in that 

it is designed to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in regulating, clearing, 

settling, processing information with 

respect to, and 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. 

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, as amended. 

The Exchange notes that the proposed 

rule change will facilitate listed issuer 

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 ETF issuers, 

to the Securities and Exchange 

Commission.8 As described in Item 3 

[sic], above, the Investment Company 

Institute detailed challenges that listed 

ETF 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. 

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–2017–84 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–NYSEArca–2017–84. 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– 

NYSEArca–2017–84 and should be 

submitted on or before September 12, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2017–17687 Filed 8–21–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81407; File No. SR– 

BatsEDGX–2017–33] 

Self-Regulatory Organizations; Bats 

EDGX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change to Rule 21.2, 

Days and Hours of Business 

August 16, 2017. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on August 2, 

2017, Bats EDGX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGX’’) 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 Exchange. The Exchange has 

designated this proposal as a ‘‘nonVerDate Sep<11>2014 18:00 Aug 21, 2017 Jkt 241001 PO 00000 Frm 00182 Fmt 4703 Sfmt 4703 E:\FR\FM\22AUN1.SGM 22AUN1

sradovich on DSK3GMQ082PROD with NOTICES