Document ID: SEC-2016-0273-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2016-02-19T05:00Z

[Federal Register Volume 81, Number 33 (Friday, February 19, 2016)]
[Notices]
[Page 8551]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03389]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77126; SR-NYSEArca-2015-68]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change 
Relating to Implementation of a Fee on Securities Lending and 
Repurchase Transactions With Respect to Shares of the 
CurrencyShares[supreg] Euro Trust and the CurrencyShares[supreg] 
Japanese Yen Trust

February 12, 2016.
    On July 30, 2015, NYSE Arca, Inc. (``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 relating to 
implementation of a fee on securities lending and repurchase 
transactions with respect to shares of the CurrencyShares[supreg] Euro 
Trust and the CurrencyShares[supreg] Japanese Yen Trust, which are 
currently listed and trading on the Exchange under NYSE Arca Equities 
Rule 8.202. The proposed rule change was published for comment in the 
Federal Register on August 20, 2015.\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. 75698 (Aug. 14, 
2015), 80 FR 50701 (``Notice'').
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    On September 18, 2015, 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 November 18, 2016, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ In the Order 
Instituting Proceedings, the Commission solicited responses to 
specified matters related to the proposal.\8\ The Commission has not 
received any comments on the proposal.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 75945, 80 FR 57645 
(Sept. 24, 2015). The Commission designated a longer period within 
which to take action on the proposed rule change and designated 
November 18, 2015, as the date by which it should approve, 
disapprove, or institute proceedings to determine whether to 
disapprove the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 76472, 80 FR 73258 
(Nov. 24, 2015) (``Order Instituting Proceedings'').
    \8\ See id., 80 FR at 73261-73262.
    \9\ Although the Commission has not received comments on the 
proposal, the Exchange represents that it issued a Regulatory 
Bulletin on this proposal on August 21, 2013 (regulatory bulletin 
available at http://www.sec.gov/rules/sro/nysearca/2015/34-75698-ex2a.pdf) and received two comment letters in response. See Notice, 
supra note 3, 80 FR at 50705 n.22. See also Letter from Daniel J. 
McCabe, President, Precidian Investments, to John Carey, Vice 
President--Legal, NYSE (Sept. 20, 2013) (supporting the proposed 
rule change); and Letter from Theodore R. Lazo, Associate General 
Counsel, and Kyle Brandon, Managing Director, SIFMA, to John Carey, 
Vice President--Legal (Sept. 23, 2013) (opposing the proposal) 
(available at http://www.sec.gov/rules/sro/nysearca/2015/34-75698-ex2b.pdf).
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    Section 19(b)(2) of the Act \10\ 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, however, extend the period for issuing an 
order approving or disapproving the proposed rule change by not more 
than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for that determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on August 20, 2015.\11\ The 180th day after 
publication of the notice of the filing of the proposed rule change in 
the Federal Register is February 16, 2016.
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    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See supra note 3 and accompanying text.
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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.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\12\ designates April 15, 2016 as the date by which the Commission 
should either approve or disapprove the proposed rule change (SR-
NYSEArca-2015-68).
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    \12\ 15 U.S.C. 78s(b)(2).

    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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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-03389 Filed 2-18-16; 8:45 am]
 BILLING CODE 8011-01-P