Document ID: SEC-2018-0890-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc.
Posted Date: 2018-06-12T04:00Z

[Federal Register Volume 83, Number 113 (Tuesday, June 12, 2018)]
[Notices]
[Page 27356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12552]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83388; File No. SR-CboeBZX-2017-006]

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 Series 
of the Cboe Vest S&P 500 Enhanced Growth Strategy ETF Under the ETF 
Series Solutions Trust Under Rule 14.11(c)(3)

June 6, 2018.
    On November 21, 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 (``Shares'') of series of 
the Cboe Vest S&P 500[reg] Enhanced Growth Strategy ETF under Exchange 
Rule 14.11(c)(3), which governs the listing and trading of Index Fund 
Shares. The proposed rule change was published for comment in the 
Federal Register on December 11, 2017.\3\ On January 19, 2018, 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.\4\ On March 9, 2018, the Commission initiated proceedings 
to determine whether to disapprove the proposed rule change.\5\
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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. 82216 (December 5, 
2017), 82 FR 58235.
    \4\ See Securities Exchange Act Release No. 82552, 83 FR 3819 
(January 26, 2018).
    \5\ See Securities Exchange Act Release No. 82843, 83 FR 11264 
(March 14, 2018).
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    On April 13, 2018, the Exchange filed Amendment No. 1 to the 
proposed rule change.\6\ The Commission has received no comments on the 
proposed rule change.
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    \6\ In Amendment No. 1, which amended and replaced the proposed 
rule change in its entirety, the Exchange: (a) Clarified the 
requirements and applicability of BZX Rule 14.11(c)(3) as it 
pertains to the Shares; (b) supplemented its description of the 
indexes; (c) supplemented its description of outcome periods; (d) 
clarified its assertions relating to susceptibility of manipulation 
of the Shares; (e) made certain corrections to maintain consistency 
with defined terms; (f) provided a description of the suitability 
requirements with respect to Exchange members; and (g) made other 
technical and non-substantive corrections and updates. Because 
Amendment No. 1 does not materially alter the substance of the 
proposal or raise unique or novel regulatory issues, Amendment No. 1 
is not subject to notice and comment. Amendment No. 1 is available 
at: https://www.sec.gov/comments/sr-cboebzx-2017-006/cboebzx2017006-3458512-162202.pdf.
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    Section 19(b)(2) of the Act \7\ 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 December 11, 2017. June 9, 2018, is 180 days from 
that date, and August 8, 2018, is 240 days from that date.
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    \7\ 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,\8\ the Commission designates August 8, 
2018, as the date by which the Commission shall either approve or 
disapprove the proposed rule change (File No. SR-CboeBZX-2017-006), as 
modified by Amendment No. 1.
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    \8\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12552 Filed 6-11-18; 8:45 am]
 BILLING CODE 8011-01-P