Document ID: SEC-2016-2197-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE MKT LLC
Posted Date: 2016-12-14T05:00Z

[Federal Register Volume 81, Number 240 (Wednesday, December 14, 2016)]
[Notices]
[Pages 90402-90403]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29940]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79510; File No. SR-NYSEMKT-2016-58]

Self-Regulatory Organizations; NYSE MKT LLC; 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 Amendments No. 1 and 2 Thereto, Relating to Amendments to 
NYSE MKT Rules 1600 et seq. and the Listing Rules Applicable to the 
Shares of the Nuveen Diversified Commodity Fund and the Nuveen Long/
Short Commodity Total Return Fund

December 8, 2016.
    On May 24, 2016, NYSE MKT LLC (``Exchange'') 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 among other 
things, amend NYSE MKT Rules 1600 et seq. and to amend the listing 
rules applicable to the shares of the Nuveen Diversified Commodity Fund 
and the Nuveen Long/Short Commodity Total Return Fund, which the 
Exchange currently lists and trades. The proposed rule change was 
published for comment in the Federal Register on June 13, 2016.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 78000 (June 7, 
2016), 81 FR 38232.
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    On July 28, 2016, pursuant to Section 19(b)(2) of the Act,\4\ the 
Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.\5\ On September 2, 2016, the Exchange filed Amendment No. 1 to 
the proposed rule change, which replaced and superseded the proposed 
rule change as originally filed.\6\ On September 9, 2016, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the 
Act,\7\ to determine whether to approve or disapprove the proposed rule 
change, as modified by

[[Page 90403]]

Amendment No. 1.\8\ On November 10, 2016, the Exchange filed Amendment 
No. 2 to the proposed rule change, which replaced and superseded the 
proposed rule change as modified by Amendment No. 1 thereto its 
entirety.\9\ The Commission has received two comments on the 
proposal.\10\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 78432, 81 FR 51248 
(August 3, 2016). The Commission designated September 9, 2016, as 
the date by which the Commission would either approve or disapprove, 
or institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ Amendment No. 1 is available at https://www.sec.gov/comments/sr-nysemkt-201658/nysemkt201658-2.pdf.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 78804 (September 9, 
2016), 81 FR 63543 (September 15, 2016) (``Order Instituting 
Proceedings'').
    \9\ Amendment No. 2 is available at https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658-4.pdf.
    \10\ See letter dated July 4, 2016, to Division of Trading and 
Markets, Commission (``Anonymous Letter''); and letter from Michael 
Szkodzinski, Associate General Counsel, Weiss Asset Management LP, 
to Brent J. Fields, Secretary, Commission, dated October 6, 2016. 
The comments regarding the proposed rule change are available at: 
https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658.shtml.
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    Section 19(b)(2) of the Act\11\ 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 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. December 
10, 2016, and February 8, 2017, are 180 days and 240 days, 
respectively, from June 13, 2016, the date that the proposed rule 
change was published for notice and comment in the Federal Register.
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    \11\ 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 this proposed 
rule change, as modified by Amendments No. 1 and 2, thereto, and the 
comments received.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\12\ designates February 8, 2017, as the date by which the 
Commission shall either approve or disapprove the proposed rule change, 
as modified by Amendments No. 1 and 2, thereto (File Number SR-NYSEMKT-
2016-58).
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    \12\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-29940 Filed 12-13-16; 8:45 am]
 BILLING CODE 8011-01-P