
[Federal Register Volume 81, Number 118 (Monday, June 20, 2016)]
[Notices]
[Page 39972]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14447]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78063; File No. SR-NASDAQ-2016-056]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Relating 
to the Listing and Trading of the Shares of the PowerShares Variable 
Rate Investment Grade Portfolio, a Series of the PowerShares Actively 
Managed Exchange-Traded Fund Trust

June 14, 2016.
    On April 13, 2016, 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 shares of the PowerShares Variable Rate Investment Grade 
Portfolio, a series of the PowerShares Actively Managed Exchange-Traded 
Fund Trust. The proposed rule change was published for comment in the 
Federal Register on May 2, 2016.\3\ On May 5, 2016, the Exchange filed 
Amendment No. 1 to the proposed rule change.\4\ The Commission received 
no comment letters 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. 77715 (April 26, 
2016), 81 FR 26285.
    \4\ In Amendment No. 1, the Exchange amended certain 
representations regarding the holdings of the Fund, made numerous 
technical and clarifying changes, and added where closing price 
information for certain assets held by the Fund could be found. 
Amendment No. 1 is available at: http://www.sec.gov/comments/sr-nasdaq-2016-056/nasdaq2016056-1.pdf.
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    Section 19(b)(2) of the Act \5\ 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 June 16, 2016. The Commission is extending this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates July 29, 2016, as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change (File Number 
SR-NASDAQ-2016-056), as modified by Amendment No. 1 thereto.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-14447 Filed 6-17-16; 8:45 am]
 BILLING CODE 8011-01-P


