Document ID: SEC-2017-1297-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Bats BZX Exchange, Inc.
Posted Date: 2017-08-02T04:00Z

[Federal Register Volume 82, Number 147 (Wednesday, August 2, 2017)]
[Notices]
[Pages 36031-36032]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-16267]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81247; File No. SR-BatsBZX-2017-30]

Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Permit the Listing and Trading of Managed Portfolio Shares; 
and To List and Trade Shares of the Following Under Proposed Rule 
14.11(k): ClearBridge Appreciation ETF; ClearBridge Large Cap ETF; 
ClearBridge MidCap Growth ETF; ClearBridge Select ETF; and ClearBridge 
All Cap Value ETF

July 28, 2017.
    On June 1, 2017, Bats BZX Exchange, 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 to adopt new Rule 
14.11(k) to permit it to list and trade Managed Portfolio Shares. The 
Exchange also proposed to list and trade shares of ClearBridge 
Appreciation ETF, ClearBridge Large Cap ETF, ClearBridge MidCap Growth 
ETF, ClearBridge Select ETF, and ClearBridge All Cap Value ETF under 
proposed Rule 14.11(k). The proposed rule change was published for 
comment in the Federal Register on June 19, 2017.\3\ The Commission has 
received three comment letters on the proposed rule change.\4\
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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. 80911 (June 13, 
2017), 82 FR 27925.
    \4\ See letters from: (1) Gary Gastineau, President, ETF 
Consultants.com, Inc., dated July 7, 2017; (2) Todd J. Broms, Chief 
Executive Officer, Broms & Company LLC, dated July 10, 2017; and (3) 
James J. Angel, Associate Professor of Finance, Georgetown 
University, McDonough School of Business, dated July 10, 2017. The 
comment letters are available at https://www.sec.gov/comments/sr-batsbzx-2017-30/batsbzx201730.htm.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is August 3, 2017. The Commission is extending this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change and the 
comment letters. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\6\ designates September 17, 2017, as the date by 
which the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File Number SR-BatsBZX-2017-30).
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    \6\ Id.

[[Page 36032]]

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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-16267 Filed 8-1-17; 8:45 am]
 BILLING CODE 8011-01-P