[Federal Register Volume 81, Number 37 (Thursday, February 25, 2016)]
[Notices]
[Page 9575]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03952]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77192; File No. SR-NASDAQ-2015-161]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on
Proposed Rule Change, as Modified by Amendment Nos. 1 and 2 Thereto,
Relating to the Listing and Trading of the Shares of the First Trust
RiverFront Dynamic Europe ETF, First Trust RiverFront Dynamic Asia
Pacific ETF, First Trust RiverFront Dynamic Emerging Markets ETF, and
First Trust RiverFront Dynamic Developed International ETF of First
Trust Exchange-Traded Fund III
February 19, 2016.
On December 22, 2015, The NASDAQ Stock Market LLC (``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 the shares of the First Trust RiverFront Dynamic Europe
ETF; First Trust RiverFront Dynamic Asia Pacific ETF; First Trust
RiverFront Dynamic Emerging Markets ETF; and First Trust RiverFront
Dynamic Developed International ETF (individually, ``Fund,'' and
collectively, ``Funds''). The proposed rule change was published for
comment in the Federal Register on January 8, 2016.\3\ On January 8,
2016, the Exchange filed Amendment No. 1 to the proposed rule
change.\4\ On February 18, 2016, the Exchange filed Amendment No. 2 to
the proposed rule change.\5\ The Commission 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. 76817 (January 4,
2016), 81 FR 978.
\4\ In Amendment No. 1, the Exchange clarified the proposed rule
change by providing additional information regarding the currencies,
and instruments that provide exposure to such currencies, in which
each Fund will invest. Amendment No. 1 is not subject to notice and
comment because it is a technical amendment that does not materially
alter the substance of the proposed rule change or raise any novel
regulatory issues (Amendment No. 1 is available at: http://www.sec.gov/comments/sr-nasdaq-2015-161/nasdaq2015161-1.pdf).
\5\ In Amendment No. 2, the Exchange expanded the application of
certain criteria for the equity securities in which the Funds will
invest, so that they will apply on a continual basis. Amendment No.
2 is not subject to notice and comment because it does not
materially alter the substance of the proposed rule change or raise
any novel regulatory issues (Amendment No. 2 is available at: http://www.sec.gov/comments/sr-nasdaq-2015-161/nasdaq2015161-2.pdf).
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Section 19(b)(2) of the Act \6\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is February 22, 2016. The Commission is extending this 45-day time
period.
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\6\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on 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,\7\ designates
April 7, 2016, as the date by which the Commission shall either approve
or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-NASDAQ-2015-161), as
modified by Amendment Nos. 1 and 2 thereto.
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\7\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-03952 Filed 2-24-16; 8:45 am]
BILLING CODE 8011-01-P