60 day notice

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Federal Register / Vol. 83, No. 195 / Tuesday, October 9, 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. The
proposed amendments are intended to
promote transparency in the Exchange’s
rules, and consistency with the rules of
other SROs with respect to the
examination, qualification, and
continuing education requirements
applicable to member organizations and
their registered personnel. The
Exchange believes that in that regard
that any burden on competition would
be clearly outweighed by the important
regulatory goal of ensuring clear and
consistent requirements applicable
across SROs, avoiding duplication, and
mitigating any risk of SROs
implementing different standards in
these important areas.
Further, the Exchange does not
believe that the proposed amendments
will affect competition among securities
markets since all SROs are expected to
adopt similar rules with uniform
standards for qualification, registration
and continuing education requirements.

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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
Because the foregoing 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 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 56 and Rule 19b–
4(f)(6) thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative for 30 days from the
date of filing. However, Rule 19b–
4(f)(6)(iii) 57 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 so that
the proposal may become operative on
October 1, 2018 to coincide with the
56 15
57 17

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6)(iii).

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effective date of FINRA’s proposed rule
change on which the proposal is
based.58 The waiver of the operative
delay would make the Exchange’s
qualification requirements consistent
with those of FINRA, as of October 1,
2018. Therefore, the Commission
believes that the waiver of the 30-day
operative delay is consistent with the
protection of investors and the public
interest and hereby waives the 30-day
operative delay and designates the
proposal operative on October 1, 2018.59
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.
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–
NYSE–2018–44 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2018–44. 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
58 See

supra note 5.
purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
59 For

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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–NYSE–2018–44 and should
be submitted on or before October 30,
2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.60
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–21781 Filed 10–5–18; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; 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:
Rule 17f–2(a), SEC File No. 270–034, OMB
Control No. 3235–0034

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17f–2(a) (17 CFR
240.17f–2(a)), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
the existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17f–2(a) (Fingerprinting
Requirements for Securities
Professionals) requires that securities
professionals be fingerprinted. This
requirement serves to identify securityrisk personnel, to allow an employer to
make fully informed employment
60 17

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CFR 200.30–3(a)(12).

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Federal Register / Vol. 83, No. 195 / Tuesday, October 9, 2018 / Notices
decisions, and to deter possible
wrongdoers from seeking employment
in the securities industry. Partners,
directors, officers, and employees of
exchanges, brokers, dealers, transfer
agents, and clearing agencies are
included.
The Commission staff estimates that
approximately 4,480 respondents will
submit an aggregate total 289,780 new
fingerprint cards each year or
approximately 65 fingerprint cards per
year per registrant. The staff estimates
that the average number of hours
necessary to complete a fingerprint card
is one-half hour. Thus, the total
estimated annual burden is 144,890
hours for all respondents (289,780 times
one-half hour). The average internal
labor cost of compliance per hour is
approximately $283. Therefore, the total
estimated annual internal labor cost of
compliance for all respondents is
$41,003,870 (144,890 times $283).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid OMB
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid OMB control number. Please
direct your written comments to:
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
Mailbox@sec.gov.
Dated: October 3, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–21834 Filed 10–5–18; 8:45 am]
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SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
33263; 812–14923]

Vident Advisory, LLC et al.
October 3, 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) index-based series of certain
open-end management investment
companies (‘‘Funds’’) to issue shares
redeemable in large aggregations
(‘‘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 to issue Shares in less than
Creation Unit size to investors
participating in a distribution
reinvestment program.
APPLICANTS: ETF Series Solutions (the
‘‘Trust’’), a Delaware statutory trust
registered under the Act as an open-end
management investment company with
multiple series and Vident Advisory,
LLC (the ‘‘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 June 22, 2018.
HEARING OR NOTIFICATION OF HEARING: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,

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50737

personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on October 29, 2018, and
should be accompanied by proof of
service on applicants, in the form of an
affidavit, or for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
ADDRESSES: Secretary, Securities and
Exchange Commission, 100 F Street NE,
Washington, DC 20549–1090;
Applicants: Vident Advisory, LLC, 300
Colonial Center Parkway, Suite 330,
Roswell, GA 30076 and ETF Series
Solutions, 615 E. Michigan Street,
Milwaukee, WI 53202.
FOR FURTHER INFORMATION CONTACT:
Rachel Loko, Senior Counsel, at (202)
551–6883, or Aaron Gilbride, Branch
Chief, at (202) 551–6906 (Division of
Investment Management, Chief
Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
website by searching for the file
number, or for an applicant using the
Company name box, at http://
www.sec.gov/search/search.htm or by
calling (202) 551–8090.
Summary of the Application
1. Applicants request an order that
would allow Funds to operate as index
exchange traded funds (‘‘ETFs’’).1 Fund
shares will be purchased and redeemed
at their NAV in Creation Units. All
orders to purchase Creation Units and
all redemption requests will be placed
by or through an ‘‘Authorized
Participant,’’ which will have signed a
participant agreement with the
Distributor. Shares will be listed and
traded individually on a national
securities exchange, where share prices
1 Applicants request that the order apply to any
series of the Trust and any other open-end
management investment company or series thereof
(‘‘Funds’’), each of which will operate as an ETF,
and will track a specified index comprised of
domestic and/or foreign equity securities and/or
domestic and/or foreign fixed income securities
(each, an ‘‘Underlying Index’’). Any Fund will (a)
be advised by the Initial Adviser or an entity
controlling, controlled by, or under common
control with the Initial Adviser (each such entity
and any successor thereto, an ‘‘Adviser’’) and (b)
comply with the terms and conditions of the
application. For purposes of the requested order, a
‘‘successor’’ is limited to an entity or entities that
result from a reorganization into another
jurisdiction or a change in the type of business
organization.

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