79 FR 199 pg. 61911 - 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 To List and Trade Shares of Hull Tactical US ETF Under NYSE Arca Equities Rule 8.600
Type: NOTICEVolume: 79Number: 199Page: 61911
Page: 61911Docket number: [Release No. 34-73320; File No. SR-NYSEArca-2014-30]
FR document: [FR Doc. 2014-24421 Filed 10-14-14; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-73320; File No. SR-NYSEArca-2014-30]
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 To List and Trade Shares of Hull Tactical US ETF Under NYSE Arca Equities Rule 8.600
October 8, 2014.
On March 24, 2014, NYSE Arca, Inc. ("NYSE Arca") filed with the Securities and Exchange Commission ("Commission"), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 ("Act")1and Rule 19b-4 thereunder,2a proposed rule change to list and trade shares ("Shares") of Hull Tactical US ETF under NYSE Arca Equities Rule 8.600. The proposed rule change was published for comment in the Federal Register on April 11, 2014.3On May 21, 2014, pursuant to Section 19(b)(2) of the Act,4the Commission designated a longer period within which to either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5On July 9, 2014, the Commission instituted proceedings to determine whether to approve or disapprove the proposed rule change.6The Commission received one comment letter.7
Footnotes:
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
3 See Securities Exchange Act Release No. 71894 (Apr. 7, 2014), 79 FR 20273 ("Notice").
4 15 U.S.C. 78s(b)(2).
5 Securities Exchange Act Release No. 72214 (May 21, 2014), 79 FR 30672 (May 28, 2014). The Commission determined that it was appropriate to designate a longer period within which to take action on the proposed rule change so that it would have sufficient time to consider the proposed rule change. Accordingly, the Commission designated July 10, 2014 as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change.
6 Securities Exchange Act Release No. 72571 (July 9, 2014), 79 FR 41330 (July 15, 2014). 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.
7 See Letter from Christopher S. Jones, Associate Professor, University of Southern California to Elizabeth M. Murphy, Secretary, Commission (Sept. 16, 2014).
Section 19(b)(2) of the Act8provides 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 April 11, 2014.9The 180th day after publication of the notice of the filing of the proposed rule change in the Federal Register is October 8, 2014, and the 240th day after publication of the notice of the filing of the proposed rule change in the Federal Register is December 5, 2014.
Footnotes:
8 15 U.S.C. 78s(b)(2).
9 See supra note 3 and accompanying text.
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 and the comment letter received.
Accordingly, the Commission pursuant to 19(b)(2) of the Act10designates December 5, 2014 as the date by which the Commission shall either approve or disapprove the proposed rule change(File No. SR-NYSEArca-2014-30).
Footnotes:
10 15 U.S.C. 78s(b)(2).
11 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-24421 Filed 10-14-14; 8:45 am]
BILLING CODE 8011-01-P