30 day notice

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Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices

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. Rather, the
Exchange believes that the proposed
changes with respect to its Risk Monitor
Mechanism help promote fair and
orderly markets and provide clarity and
transparency the Rule. For example, the
proposed rule change adds an
additional risk control parameter and
flexibility to help further prevent
potentially erroneous executions, which
benefits all market participants. The
proposed changes apply uniformly to all
Members and the Exchange notes that
the proposed changes apply to all
quotes and orders in the same manner.
Additionally, the Exchange does not
believe that the proposed rule change
will impose any burden on intermarket
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act because the
proposed enhancements apply only to
trading on the Exchange. Additionally,
the Exchange notes that it is voluntary
for the Members to determine whether
to make use of the new enhancements
of the Risk Monitor Mechanism. To the
extent that the proposed changes may
make the Exchange a more attractive
trading venue for market participants on
other exchanges, such market
participants may elect to become
Exchange market participants.

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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not:
A. significantly affect the protection
of investors or the public interest;
B. impose any significant burden on
competition; and
C. become operative for 30 days from
the date on which it was filed, or such
shorter time as the Commission may
designate, it has become effective
pursuant to Section 19(b)(3)(A) of the
Act 24 and Rule 19b–4(f)(6) 25
thereunder.26
24 15

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
26 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
25 17

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A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 27 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 28
permits the Commission to 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 to provide Members
with additional tools and greater
flexibility for managing their potential
risk as soon as possible. Accordingly,
the Commission believes that waiver of
the 30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the
operative delay and designates the
proposal as operative upon filing.29
At any time within 60 days of the
filing of the 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
to determine whether the proposed rule
change should be approved or
disapproved.
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:

Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CboeEDGX–2018–058. 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 website (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 website 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.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeEDGX–2018–058 and
should be submitted on or before
January 4, 2019.

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–
CboeEDGX–2018–058 on the subject
line.

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.30
Eduardo A. Aleman,
Deputy Secretary.

Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange

SECURITIES AND EXCHANGE
COMMISSION

give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
27 17 CFR 240.19b–4(f)(6).
28 17 CFR 240.19b–4(f)(6)(iii).
29 For purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).

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[FR Doc. 2018–27086 Filed 12–13–18; 8:45 am]
BILLING CODE 8011–01–P

[SEC File No. 270–359, OMB Control No.
3235–0410]

Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Extension:
30 17

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CFR 200.30–3(a)(12).

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Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices

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Rules 17h–1T and 17h–2T

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rules 17h–1T and 17h–2T (17 CFR
240.17h–1T and 17 CFR 240.17h–2T),
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 17h–1T requires a covered
broker-dealer to maintain and preserve
records and other information
concerning certain entities that are
associated with the broker-dealer. This
requirement extends to the financial and
securities activities of the holding
company, affiliates and subsidiaries of
the broker-dealer that are reasonably
likely to have a material impact on the
financial or operational condition of the
broker-dealer. Rule 17h–2T requires a
covered broker-dealer to file with the
Commission quarterly reports and a
cumulative year-end report concerning
the information required to be
maintained and preserved under Rule
17h–1T.
The collection of information required
by Rules 17h–1T and 17h–2T,
collectively referred to as the ‘‘risk
assessment rules,’’ is necessary to
enable the Commission to monitor the
activities of a broker-dealer affiliate
whose business activities are reasonably
likely to have a material impact on the
financial or operational condition of the
broker-dealer. Without this information,
the Commission would be unable to
assess the potentially damaging impact
of the affiliate’s activities on the brokerdealer.
There are currently 285 respondents
that must comply with Rules 17h–1T
and 17h–2T. Each of these 285
respondents are estimated to require 10
hours per year to maintain the records
required under Rule 17h–1T, for an
aggregate estimated annual burden of
2,850 hours (285 respondents × 10
hours). In addition, each of these 285
respondents must make five annual
responses under Rule 17h–2T. These
five responses are estimated to require
14 hours per respondent per year for an
aggregate estimated annual burden of
3,990 hours (285 respondents × 14
hours).
In addition, new respondents must
draft an organizational chart required
under Rule 17h–1T and establish a
system for complying with the risk
assessment rules. The staff estimates
that drafting the required organizational

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chart requires one hour and establishing
a system for complying with the risk
assessment rules requires three hours.
Based on the reduction in the number
of filers in recent years, the staff
estimates there will be zero new
respondents, and thus, a corresponding
estimated burden of zero hours for new
respondents. Thus, the total compliance
burden per year is approximately 6,840
burden hours (2,850 hours + 3,990
hours).
The retention period for the
recordkeeping requirement for the
information, reports and records
required under Rule 17h–1T is not less
than three years. There is no specific
retention period or recordkeeping
requirement for Rule 17h–2T. The
collection of information is mandatory.
All information obtained by the
Commission pursuant to the provisions
of Rules 17h–1T and 17h–2T from a
broker or dealer concerning a material
associated person is deemed
confidential information for the
purposes of section 24(b) of the
Exchange Act.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: December 10, 2018.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018–27091 Filed 12–13–18; 8:45 am]
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64389

SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
33320; 812–14933]

Pacific Global ETF Trust and Cadence
Capital Management LLC
December 11, 2018.

Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:

Notice of an application for an order
under section 6(c) of the Investment
Company Act of 1940 (the ‘‘Act’’) for an
exemption from sections 2(a)(32),
5(a)(1), 22(d), and 22(e) of the Act and
rule 22c–1 under the Act, under
sections 6(c) and 17(b) of the Act for an
exemption from sections 17(a)(1) and
17(a)(2) of the Act, and under section
12(d)(1)(J) for an exemption from
sections 12(d)(1)(A) and 12(d)(1)(B) of
the Act. The requested order would
permit (a) actively-managed series of
certain open-end management
investment companies (‘‘Funds’’) to
issue shares redeemable in large
aggregations only (‘‘Creation Units’’); (b)
secondary market transactions in Fund
shares to occur at negotiated market
prices rather than at net asset value
(‘‘NAV’’); (c) certain Funds to pay
redemption proceeds, under certain
circumstances, more than seven days
after the tender of shares for
redemption; (d) certain affiliated
persons of a Fund to deposit securities
into, and receive securities from, the
Fund in connection with the purchase
and redemption of Creation Units; (e)
certain registered management
investment companies and unit
investment trusts outside of the same
group of investment companies as the
Funds (‘‘Funds of Funds’’) to acquire
shares of the Funds; and (f) certain
Funds (‘‘Feeder Funds’’) to create and
redeem Creation Units in-kind in a
master-feeder structure.
APPLICANTS: Pacific Global ETF Trust
(‘‘Trust’’), a Delaware statutory trust that
will be registered under the Act as an
open-end management investment
company with multiple series, and
Cadence Capital Management LLC
(‘‘Initial Adviser’’), a Delaware limited
liability company registered as an
investment adviser under the
Investment Advisers Act of 1940.
FILING DATES: The application was filed
on July 24, 2018 and amended on
November 21, 2018.
HEARING OR NOTIFICATION OF HEARING: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may

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