Document ID: SEC-2018-0799-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc.
Posted Date: 2018-05-23T04:00Z

[Federal Register Volume 83, Number 100 (Wednesday, May 23, 2018)]
[Notices]
[Page 23978]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10972]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83271; File No. SR-BatsBZX-2017-72]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1 Thereto, To List and Trade Shares of the 
Innovator S&P 500 Buffer ETF Series, Innovator S&P 500 Power Buffer ETF 
Series, Innovator S&P 500 Enhance and Buffer ETF Series, and Innovator 
S&P 500 Ultra ETF Series Under Rule 14.11(i)

May 17, 2018.
    On November 7, 2017, Cboe BZX Exchange, Inc. (``Exchange'' or 
``BZX'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to list and trade shares of the Innovator S&P 500 
15% Shield Strategy ETF Series, Innovator S&P 500 -5% to -35% Shield 
Stratey ETF Series, Innovator S&P 500 Enhance and 10% Shield Strategy 
ETF Series, and Innovator S&P 500 Ultra Strategy ETF Series under BZX 
Rule 14.11(i) (collectively, the ``Funds'').\3\ The proposed rule 
change was published for comment in the Federal Register on November 
22, 2017.\4\ On December 21, 2017, the Commission extended the time 
period within which to approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
approve or disapprove the proposed rule change.\5\ On February 20, 
2018, the Commission initiated proceedings to determine whether to 
disapprove the proposed rule change.\6\ On April 4, 2018, the Exchange 
filed Amendment No. 1 to the proposed rule change, which amended and 
superseded the proposed rule change as originally filed.\7\ The 
Commission has received no comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On April 4, 2018, the Exchange filed Amendment No. 1 to the 
proposed rule change which, among other things, changed the names of 
the Funds to Innovator S&P 500 Buffer ETF Series, Innovator S&P 500 
Power Buffer ETF Series, Innovator S&P 500 Enhance and Buffer ETF 
Series, and Innovator S&P 500 Ultra ETF Series. See infra note 7.
    \4\ See Securities Exchange Act Release No. 82097 (November 16, 
2017), 82 FR 55689.
    \5\ See Securities Exchange Act Release No. 82387, 82 FR 61613 
(December 28, 2017). The Commission designated February 20, 2018 as 
the date by which the Commission shall approve, disapprove, or 
institute proceedings to determine whether to approve or disapprove, 
the proposed rule change.
    \6\ See Securities Exchange Act Release No. 82739, 83 FR 8309 
(February 26, 2018).
    \7\ Amendment No. 1 to the proposed rule change is available at: 
https://www.sec.gov/comments/sr-batsbzx-2017-72/batsbzx201772-3385594-162153.pdf.
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of the filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on November 22, 2017. May 21, 2018 is 180 days from 
that date, and July 20, 2018 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change, as modified by Amendment No. 1. Accordingly, pursuant to 
Section 19(b)(2) of the Act,\9\ the Commission designates July 20, 2018 
as the date by which the Commission shall either approve or disapprove 
the proposed rule change (File No. SR-BatsBZX-2017-72), as modified by 
Amendment No. 1.
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    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10972 Filed 5-22-18; 8:45 am]
 BILLING CODE 8011-01-P