Document ID: SEC-2013-1163-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE MKT, LLC
Posted Date: 2013-06-27T04:00Z

[Federal Register Volume 78, Number 124 (Thursday, June 27, 2013)]
[Notices]
[Pages 38769-38770]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-15348]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69822; File No. SR-NYSEMKT-2013-58]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Replacing References to 
``Principle Executive'' With References to ``Principal Executive'' in 
the Exchange's Rules

June 21, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act'') and Rule 19b-4 thereunder, notice is hereby given that on 
June 20, 2013, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') filed 
with the Securities and Exchange Commission (the ``Commission'') the 
proposed rule change as described in Items I and II below, which Items 
have been prepared by the self-regulatory organization. The Commission 
is publishing this notice to solicit comments on the proposed rule 
change from interested persons.

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to replace references to ``principle 
executive'' with references to ``principal executive'' in the 
Exchange's rules. The text of the proposed rule change is available on 
the Exchange's Web site at www.nyse.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization 
included statements concerning the purpose of, and basis for, the 
proposed rule change and discussed any comments it received on the 
proposed rule change. The text of those statements may be examined at 
the places specified in Item IV below. The Exchange has prepared 
summaries, set forth in sections A, B, and C below, of the most 
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to replace references to ``principle 
executive'' with references to ``principal executive'' in the 
Exchange's rules.
    Currently, certain equities rules (Rules 98--Equities, 104T--
Equities, 105--Equities, 113--Equities, 122--Equities, 123--Equities, 
309--Equities, 344--Equities) and certain disciplinary rules applicable 
to the Exchange's equities and options markets (Rules 475, 476, and 477 
in Section 9A of the Office Rules) contain references to ``principle 
executive.'' The Exchange proposes to replace these references with 
references to ``principal executive.'' The term ``principal executive'' 
appears in over 40 other Exchange rules, and references to ``principle 
executive'' are simply misspellings. In addition, certain of the 
Exchange's rules are based on the rules of its affiliate, the New York 
Stock Exchange (``NYSE''), and the NYSE uses the term ``principal 
executive'' exclusively. The purpose of the proposal is to make the 
terminology in the Exchange's rules more consistent.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with

[[Page 38770]]

Section 6(b) of the Act,\1\ in general, and furthers the objectives of 
Section 6(b)(5) of the Act,\2\ in particular, because it promotes just 
and equitable principles of trade, removes impediments to and perfects 
the mechanism of a free and open market and a national market system, 
and, in general, helps to protect investors and the public interest by 
implementing consistent terminology throughout the Exchange's rules. 
The Exchange further believes that the proposal removes impediments to 
and perfects the mechanism of a free and open market by ensuring that 
member organizations, regulators, and the public can more easily 
understand and navigate the Exchange's rules.
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    \1\ 15 U.S.C. 78f(b).
    \2\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. The proposed change is not 
designed to address any competitive issue but rather would implement 
consistent terminology throughout the Exchange's rules, thereby 
reducing confusion, and making the Exchange's rules easier to 
understand and navigate.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(6) thereunder.\4\ 
Because the proposed rule change does not: (i) Significantly affect the 
protection of investors or the public interest; (ii) impose any 
significant burden on competition; and (iii) become operative prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \5\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\6\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay so that the proposal 
may become operative immediately upon filing. The Commission believes 
that waiving the 30-day operative delay is consistent with the 
protection of investors and the public interest. Granting the waiver 
allows the Exchange to correct a typographical error immediately, 
thereby eliminating any confusion generated by the mistake without 
delay. Therefore, the Commission hereby waives the 30-day operative 
delay and designates the proposal operative upon filing.\7\
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    \5\ 17 CFR 240.19b-4(f)(6).
    \6\ 17 CFR 240.19b-4(f)(6)(iii).
    \7\ For purposes only of waiving the 30-day operative delay, the 
Commission has considered the proposed rule's impact on efficiency, 
competition, and capital formation. See 15 U.S.C. 78c(f).
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    At any time within 60 days of the filing of such proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act. If the Commission 
takes such action, the Commission shall institute proceedings under 
Section 19(b)(2)(B) \8\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \8\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-NYSEMKT-2013-58 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEMKT-2013-58. This 
file number should be included on the subject line if email is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549, on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-NYSEMKT-2013-58 and should 
be submitted on or before July 18, 2013.

    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)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2013-15348 Filed 6-26-13; 8:45 am]
BILLING CODE 8011-01-P