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 Relating to the Listing and Trading of Shares of BlackRock Government Collateral Pledge Unit Under NYSE Arca Equities Rule 8.600

Federal Register, Volume 81 Issue 231 (Thursday, December 1, 2016)

Federal Register Volume 81, Number 231 (Thursday, December 1, 2016)

Notices

Pages 86749-86750

From the Federal Register Online via the Government Publishing Office www.gpo.gov

FR Doc No: 2016-28825

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SECURITIES AND EXCHANGE COMMISSION

Release No. 34-79398; File No. SR-NYSEArca-2016-63

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 Relating to the Listing and Trading of Shares of BlackRock Government Collateral Pledge Unit Under NYSE Arca Equities Rule 8.600

November 25, 2016.

On May 19, 2016, NYSE Arca, Inc. 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 BlackRock Government Collateral Pledge Unit. The proposed rule change was published for comment in the Federal Register on June 2, 2016.\3\ On July 14, 2016, pursuant to Section 19(b)(2) of the Act,\4\ the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.\5\ On August 30, 2016, the Commission instituted proceedings to determine whether to approve or disapprove the proposed rule change.\6\ The Commission has received no comments on the proposed rule change.

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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. 77941 (May 27, 2016), 81 FR 35425.

\4\ 15 U.S.C. 78s(b)(2).

\5\ See Securities Exchange Act Release No. 78328, 81 FR 47222 (July 20, 2016).

\6\ See Securities Exchange Act Release No. 78728, 81 FR 61260 (September 6, 2016). Specifically, 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 61262.

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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 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

Page 86750

June 2, 2016. November 29, 2016 is 180 days from that date, and January 28, 2017 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 this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,\8\ designates January 28, 2017 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-NYSEArca-2016-63).

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\8\ Id.

\9\ 17 CFR 200.30-3(a)(57).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\9\

Brent J. Fields,

Secretary.

FR Doc. 2016-28825 Filed 11-30-16; 8:45 am

BILLING CODE 8011-01-P