Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt NYSE Arca Equities Rule 8.900, Which Permits the Listing and Trading of Managed Portfolio Shares, and To List and Trade Shares of the ActiveShares SM Large-Cap Fund, ActiveShares SM Mid-Cap Fund, and ActiveShares SM Multi-Cap Fund Pursuant to That Rule

---
identifier: "/us/fr/2014-08130"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt NYSE Arca Equities Rule 8.900, Which Permits the Listing and Trading of Managed Portfolio Shares, and To List and Trade Shares of the ActiveShares SM Large-Cap Fund, ActiveShares SM Mid-Cap Fund, and ActiveShares SM Multi-Cap Fund Pursuant to That Rule"
title_number: 0
title_name: "Federal Register"
section_number: "2014-08130"
section_name: "Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt NYSE Arca Equities Rule 8.900, Which Permits the Listing and Trading of Managed Portfolio Shares, and To List and Trade Shares of the ActiveShares SM Large-Cap Fund, ActiveShares SM Mid-Cap Fund, and ActiveShares SM Multi-Cap Fund Pursuant to That Rule"
positive_law: false
currency: "2014-04-11"
last_updated: "2014-04-11"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Securities and Exchange Commission"
document_number: "2014-08130"
document_type: "notice"
publication_date: "2014-04-11"
agencies:
  - "Securities and Exchange Commission"
fr_citation: "79 FR 20285"
fr_volume: 79
docket_ids:
  - "Release No. 34-71895"
  - "File No. SR-NYSEArca-2014-10"
---


#  Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt NYSE Arca Equities Rule 8.900, Which Permits the Listing and Trading of Managed Portfolio Shares, and To List and Trade Shares of the ActiveShares 
                    SM
                     Large-Cap Fund, ActiveShares 
                    SM
                     Mid-Cap Fund, and ActiveShares 
                    SM
                     Multi-Cap Fund Pursuant to That Rule

On February 7, 2014, NYSE Arca, Inc. (“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 adopt new NYSE Arca Equities Rule 8.900, which would govern the listing and trading of Managed Portfolio Shares, and to list and trade shares of the ActiveShares <sub>SM</sub> Large-Cap Fund, ActiveShares <sub>SM</sub> Mid-Cap Fund, and ActiveShares <sub>SM</sub> Multi-Cap Fund (collectively, “Funds”) under proposed NYSE Arca Equities Rule 8.900. The proposed rule change was published for comment in the *Federal Register* on February 26, 2014. [^3] The Commission has received one comment letter on the proposed rule change. [^4]

[^1] 15 U.S.C. 78s(b)(1).

[^2] 17 CFR 240.19b-4.

[^3]*See* Securities Exchange Act Release No. 71588 (Feb. 20, 2014), 79 FR 10848.

[^4]*See* Letter from Gary L. Gastineau, President, ETF Consultants.com, Inc., to Elizabeth M. Murphy, Secretary, Commission, dated March 18, 2014.

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 Commission is extending this 45-day time period.

[^5] 15 U.S.C. 78s(b)(2).

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 and the comment received. The proposed rule change would permit the Exchange to adopt new NYSE Arca Equities Rule 8.900, which would set forth the initial and continued listing standards applicable to Managed Portfolio Shares. In addition, the proposed rule change would permit the listing and trading of shares of the Funds pursuant to proposed NYSE Arca Equities Rule 8.900.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, [^6] designates May 27, 2014, 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 Number SR-NYSEArca-2014-10).

[^6]*Id.*

[^7] 17 CFR 200.30-3(a)(31).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. <sup>7</sup>

Kevin M. O'Neill,

Deputy Secretary.