42008 Federal Register / Vol. 82, No. 170 / Tuesday, September 5, 2017 / Notices 

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. 

4Pursuant to NYSE Rule 123C(2), orders 

designated for the close, including Market on Close 

(‘‘MOC’’) and Limit on Close (‘‘LOC’’) Orders can 

be entered after 3:45 p.m. to offset a published 

Mandatory MOC/LOC Imbalance Publication. 

Closing Offset (‘‘CO’’) Orders can be entered on 

both sides of the market up to 4:00 p.m. regardless 

of whether there is a published imbalance. 

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– 

BatsBZX–2017–56 and should be 

submitted on or before September 26, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–18660 Filed 9–1–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a closed meeting 

on Wednesday, September 6, 2017 at 2 

p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (a)(5), (a)(7), 

(a)(9)(ii) and (a)(10), permit 

consideration of the scheduled matters 

at the closed meeting. 

Commissioner Stein, as duty officer, 

voted to consider the items listed for the 

closed meeting in closed session. 

The subject matters of the closed 

meeting will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Adjudicatory matters; 

Resolution of litigation claims; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed; please 

contact Brent J. Fields from the Office of 

the Secretary at (202) 551–5400. 

Dated: August 30, 2017. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2017–18807 Filed 8–31–17; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81494; File No. SR–NYSE– 

2017–32] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing of Proposed Rule Change To 

Amend Section 202.06 of the NYSE 

Listed Company Manual To Prohibit 

Listed Companies From Issuing 

Material News After the Official Closing 

Time for the Exchange’s Trading 

Session Until the Earlier of Publication 

of Such Company’s Official Closing 

Price on the Exchange or Five Minutes 

After the Official Closing Time 

August 29, 2017. 

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 August 

17, 2017, New York Stock Exchange 

LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory 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 amend 

Section 202.06 of the NYSE Listed 

Company Manual (the ‘‘Manual’’) to 

limit the issuance of material news by 

listed companies in the period 

immediately after the official closing 

time for the Exchange’s trading session. 

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 Exchange proposes to amend 

Section 202.06 of the Manual to limit 

the issuance of material news by listed 

companies in the period immediately 

after the official closing time for the 

Exchange’s trading session. 

Continuous trading on the Exchange 

ends at the Exchange’s official closing 

time of 4:00 p.m. Eastern Time (except 

that on certain days the official closing 

time occurs early at 1:00 p.m. Eastern 

Time), which is when the Exchange 

stops accepting new orders, including 

orders designated for the closing 

auction, and requests to cancel orders.4

The Designated Market Maker (‘‘DMM’’) 

registered in a security facilitates the 

close of trading after continuous trading 

ends at the official closing time of 4:00 

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Federal Register / Vol. 82, No. 170 / Tuesday, September 5, 2017 / Notices 42009 

5Pursuant to NYSE Rule 104(a)(3), a DMM has a 

responsibility and duty to facilitate the close of 

trading for each of the securities in which the DMM 

is registered as required by Exchange rules, which 

may include supplying liquidity as needed. 

6See NYSE Rule 123C(6) (describing the Order 

Imbalance Information Data Feed). 

7See NYSE Rule 123C, which establishes the 

Exchange’s Closing Procedures, including that 

closings may be effectuated manually or 

electronically by the DMM (Supplementary 

Material .10 to Rule 123C). In particular, see Rule 

123C(7) for the order of execution on the close, 

including which orders are guaranteed to 

participate in the closing transaction, and in which 

order and Rule 123C(8) for how closing transactions 

are to be effectuated if there is an imbalance of 

shares to buy over shares to sell in MOC and/or 

marketable LOC orders, or vice versa. 

8The price of the closing auction is based in large 

part on the order imbalance established before 4:00 

p.m.; if material news is issued after 4:00 p.m., but 

before the closing auction, market participants can 

neither enter nor cancel orders intended for the 

close on the NYSE. 

9To avoid market disruptions when the closing 

auction is delayed more than five minutes, the 

amended rule will continue to include advisory text 

asking companies to avoid issuing material news 

until the earlier of publication of the official closing 

price or 15 minutes after the NYSE’s official closing 

time. 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(5). 

p.m.5 Up to 4:00 p.m., the Exchange 

publishes Order Imbalance Information, 

which includes real-time order 

imbalance information and information 

indicating the price at which closing 

interest may be executed in full and the 

price at which Exchange Book and 

closing-only interest may be executed in 

full.6

The DMM-facilitated closing process 

is manual, however, a DMM can choose 

to automate the process.7 Because of the 

manual nature of how the close is 

facilitated, the DMM cannot begin the 

process until order entry acceptance has 

ended, i.e., after 4:00 p.m. A DMM 

therefore facilitates a closing auction 

based on an order imbalance established 

before 4:00 p.m., and on orders entered 

with information available before 4:00 

p.m. 

Because there is trading after 4:00 

p.m. Eastern Time on other exchange 

and non-exchange venues, if a listed 

company releases material news 

immediately after 4:00 p.m., but before 

the closing auction on the NYSE is 

completed, there can be a significant 

price difference in nearly 

contemporaneous trades on other 

markets and the closing price on the 

Exchange.8 As the discrepancy between 

the NYSE closing price and trading 

prices on other markets can cause 

confusion to investors, the Exchange 

previously added advisory text in 

Section 202.06 of the Manual requesting 

that listed companies intending to 

release material news after the close of 

trading on the Exchange wait until the 

earlier of the publication of their 

security’s official closing price on the 

Exchange or 15 minutes after the 

scheduled closing time on the 

Exchange. 

Notwithstanding this advisory text, 

the Exchange has continued to 

experience situations where material 

news released shortly after 4:00 p.m. has 

caused significant investor confusion. 

Specifically, when a listed company 

releases material news shortly after 4:00 

p.m., but before the DMM has been able 

to complete the closing auction, the 

news release can cause the company’s 

stock to trade on other markets at 

materially different prices than the price 

of the NYSE’s closing auction. 

The Exchange now proposes to amend 

Section 202.06 to prohibit listed 

companies from issuing material news 

after the official closing time for the 

Exchange’s trading session until the 

earlier of publication of such company’s 

official closing price on the Exchange or 

five minutes after the official closing 

time. In the Exchange’s experience, 

DMMs are able to complete the closing 

auctions for the securities assigned to a 

DMM in almost all cases within five 

minutes of the Exchange’s official 

closing time, so the proposed 

amendment utilizes that timeframe as it 

would make it unlikely that a listed 

company would ever issue material 

news between the official closing time 

and the completion of the closing 

auction.9 This prohibition would 

mitigate the risk of market disruption 

and investor confusion associated with 

the occurrence of significant newsrelated price volatility on other markets 

during the brief period between the 

NYSE’s official closing time and the 

completion of the closing auction. 

While the Exchange notes the 

importance of the requirement of 

Section 202.05 of the Manual that listed 

companies issue material news as 

quickly as possible, it believes that the 

brief delay mandated by the proposed 

amendment is desirable in light of the 

benefit of the reduced likelihood of the 

occurrence investor confusion 

associated with the issuance of material 

news prior to the completion of the 

closing auction. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) 10 of the Act, in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,11 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 and is 

not designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. In 

particular, the proposed amendment is 

designed to promote just and equitable 

principles of trade by ensuring that 

participants in the closing auction at the 

Exchange do not have their trades 

executed at a price that is inconsistent 

with contemporaneous trading prices on 

other markets that reflect material news 

that was released after the NYSE’s 

official closing time. 

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 Exchange Act. The 

purpose of the proposed amendment is 

not to affect competition, but rather to 

ensure that participants in the closing 

auction at the Exchange do not have 

their trades executed at a price that is 

inconsistent with contemporaneous 

trading prices on other markets that 

reflect material news that was released 

after the NYSE’s official closing time. 

Therefore, the proposed rule change 

will not impose any burden 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 solicited 

or received with respect to the proposed 

rule change. 

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 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

42010 Federal Register / Vol. 82, No. 170 / Tuesday, September 5, 2017 / Notices 

12 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 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– 

NYSE–2017–32 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–NYSE–2017–32. 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–NYSE– 

2017–32 and should be submitted on or 

before September 26, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–18659 Filed 9–1–17; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Delegation of Authority 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of delegation of 

authority. 

SUMMARY: This document provides the 

public with notice of the delegation of 

authority for certain activities related to 

the licensing of small business 

investment companies by the 

Administrator of the Small Business 

Administration (SBA) to the Agency 

Licensing Committee. 

FOR FURTHER INFORMATION CONTACT: 

Carol Fendler, Office of Investment and 

Innovation, U.S. Small Business 

Administration, 409 3rd Street SW., 

Washington, DC 20416; (202) 205–7559 

or carol.fendler@sba.gov. 

SUPPLEMENTARY INFORMATION: This 

document provides the public with 

notice of the Administrator’s delegation 

of authority to the Agency Licensing 

Committee to review and recommend to 

the Administrator for approval 

applications for licenses to operate as a 

small business investment company 

under the Small Business Investment 

Act of 1958, as amended. 

This delegation of authority reads as 

follows: 

Pursuant to the authority vested in me 

pursuant to section 301 of the Small 

Business Investment Act of 1958, as 

amended, the authority to take any and 

all actions necessary to review 

applications for licensing under section 

301 of the Small Business Investment 

Act of 1958, as amended, and to 

recommend to the Administrator which 

such applications should be approved is 

delegated to the Agency Licensing 

Committee. 

The Agency Licensing Committee 

shall be composed of the following 

members: 

Deputy Administrator, Chair 

Associate Administrator for Capital 

Access 

Associate Administrator for Investment 

and Innovation 

General Counsel 

Deputy General Counsel 

Chief Financial Officer 

This authority revokes all other 

authorities granted by the Administrator 

to recommend and approve applications 

for a license to operate as a small 

business investment company under the 

Small Business Investment Act of 1958, 

as amended. This authority may not be 

re-delegated; however, in the event that 

the person serving in one of the 

positions listed as a member of the 

Agency Licensing Committee is absent 

from the office, as defined in SBA 

Standard Operating Procedure 00 01 2, 

Chapter 3, paragraph 2, or is unable to 

perform the functions and duties of his 

or her position, the individual serving 

in an acting capacity, pursuant to a 

written and established line of 

succession, may serve on the Committee 

during such absence or inability. In 

addition, if one of the positions listed as 

a member of the Agency Licensing 

Committee is vacant, the individual 

serving in that position in an acting 

capacity shall serve on the Agency 

Licensing Committee. This authority 

will remain in effect until revoked in 

writing by the Administrator or by 

operation of law. 

Dated: August 24, 2017. 

Linda E. McMahon, 

Administrator. 

[FR Doc. 2017–18665 Filed 9–1–17; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF STATE 

[Public Notice 10106] 

60-Day Notice of Proposed Information 

Collection: Electronic Medical 

Examination for Visa or Applicant 

ACTION: Notice of request for public 

comment. 

SUMMARY: The Department of State is 

seeking Office of Management and 

Budget (OMB) approval for the 

information collection described below. 

In accordance with the Paperwork 

Reduction Act of 1995, we are 

requesting comments on this collection 

from all interested individuals and 

organizations. The purpose of this 

notice is to allow 60 days for public 

comment preceding submission of the 

collection to OMB. 

DATES: The Department will accept 

comments from the public up to 

November 6, 2017. 

ADDRESSES: You may submit comments 

by any of the following methods: 

• Web: Persons with access to the 

Internet may comment on this notice by 

going to www.Regulations.gov. You can 

search for the document by entering 

mstockstill on DSK30JT082PROD with NOTICES