Document ID: SEC-2018-1713-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc.
Posted Date: 2018-11-07T05:00Z

[Federal Register Volume 83, Number 216 (Wednesday, November 7, 2018)]
[Notices]
[Page 55780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24311]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84523; File No. SR-CboeBZX-2018-018]

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 To 
List and Trade Shares of the Principal Morley Short Duration Index ETF 
Under Rule 14.11(c)(4)

November 1, 2018.
    On April 23, 2018, Cboe 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 list and 
trade shares of the Principal Morley Short Duration Index ETF. The 
proposed rule change was published for comment in the Federal Register 
on May 8, 2018.\3\ On June 20, 2018, the Commission designated August 
6, 2018 as the date by 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 August 3, 2018, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \5\ to determine whether to approve or 
disapprove the proposed rule change.\6\ The Commission has received one 
comment letter on the proposed rule change.\7\
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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. 83152 (May 2, 2018), 
83 FR 20892.
    \4\ See Securities Exchange Act Release No. 83479, 83 FR 29838 
(June 26, 2018).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 83775, 83 FR 39486 
(August 9, 2018). The Commission instituted proceedings to allow for 
additional analysis of the proposed rule change's consistency with 
Section 6(b)(5) of the Act, which requires, among other things, that 
the rules of a national securities exchange be ``designed to prevent 
fraudulent and manipulative acts and practices, to promote just and 
equitable principles of trade,'' and ``to protect investors and the 
public interest.'' See id. at 39487.
    \7\ See letter from Kyle Murray, Assistant General Counsel, Cboe 
Global Markets (September 13, 2018), available at: https://www.sec.gov/comments/sr-cboebzx-2018-018/srcboebzx2018018.htm.
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    Section 19(b)(2) of the Act \8\ 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. The 
proposed rule change was published for notice and comment in the 
Federal Register on May 8, 2018. November 4, 2018, is 180 days from 
that date, and January 3, 2019, is 240 days from that date.
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    \8\ 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. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\9\ designates January 3, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CboeBZX-2018-018).
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    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-24311 Filed 11-6-18; 8:45 am]
 BILLING CODE 8011-01-P