Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Certain Internal Cross-References in General 5, Discipline, 29499-29501 [2020-10393]
Download as PDF
<![CDATA[
Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is a not a
competitive filing but rather is designed
to update the list of MIAX Select
Symbols contained in the Program in
order to avoid potential confusion on
the part of market participants.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act,12 and Rule
19b–4(f)(2) 13 thereunder. 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 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:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
MIAX–2020–09 on the subject line.
jbell on DSKJLSW7X2PROD with NOTICES
Paper Comments
• Send paper comments in triplicate
to Vanessa Countryman, Secretary,
Securities and Exchange Commission,
100 F Street NE, Washington, DC
20549–1090.
All submissions should refer to File
Number SR–MIAX–2020–09. 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 (https://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–MIAX–2020–09 and should
be submitted on or before June 5, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–10392 Filed 5–14–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–88852; File No. SR–
NASDAQ–2020–022]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Certain Internal Cross-References in
General 5, Discipline
May 11, 2020.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
12 15
U.S.C. 78s(b)(3)(A)(ii).
13 17 CFR 240.19b–4(f)(2).
VerDate Sep<11>2014
17:09 May 14, 2020
1 15
Jkt 250001
PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
29499
notice is hereby given that on April 28,
2020, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend
certain internal cross-references within
General 5, Discipline.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaq.cchwallstreet.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
In 2019, Nasdaq relocated its rules
into a new Rulebook shell.3 As a result,
several rules referenced within the 8000
and 9000 Series Rules contained in
General 5 Discipline have been
relocated under a new rule number. At
this time, Nasdaq proposes to update
certain internal cross-references within
General 5, Discipline. Specifically,
Nasdaq proposes to update internal
cross-references within Rules 8120
(Definitions), 9110 (Application), 9268
(Decision of Hearing Panel or Extended
Hearing Panel), 9269 (Default
Decisions), 9270 (Settlement Procedure),
9311 (Appeal by Any Party; CrossAppeal), 9312 (Review Proceeding
Initiated By the Nasdaq Review
3 See Securities Exchange Act Release No. 87778
(December 17, 2019), 84 FR 70590 (December 23,
2019) (SR–NASDAQ–2019–98).
E:\FR\FM\15MYN1.SGM
15MYN1
29500
Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
jbell on DSKJLSW7X2PROD with NOTICES
Council), 9351 (Discretionary Review by
Nasdaq Board), 9360 (Effectiveness of
Sanctions), 9524 (Nasdaq Review
Council Consideration), 9552 (Failure to
Provide Information or Keep
Information Current), 9553 (Failure to
Pay Nasdaq Dues, Fees and Other
Charges), 9554 (Failure to Comply with
an Arbitration Award or Related
Settlement or an Order of Restitution or
Settlement Providing for Restitution),
9555 (Failure to Meet the Eligibility or
Qualification Standards or Prerequisites
for Access to Services), 9556 (Failure to
Comply with Temporary and Permanent
Cease and Desist Orders), 9557
(Procedures for Regulating Activities
Under Rules 4110A and 4120A
Regarding a Member Experiencing
Financial or Operational Difficulties),
9558 (Summary Proceedings for Actions
Authorized by Section 6(d)(3) of the
Act), 9559 (Hearing Procedures for
Expedited Proceedings Under the Rule
9550 Series), and 9810 (Initiation of
Proceeding).
The Exchange proposes to update
internal cross-references within these
rules as follows:
• Rule 0120 to General 1(b);
• Rule 1160 to General 2, Section 11;
• Rule 2010A to General 9, Section
1(a);
• Rule 2140 to General 9, Section
1(h);
• Rule 2160 to General 2, Section 14;
• Rule 4110A to General 9, Section
40; and
• Rule 4120A to General 9, Section
41.
The Exchange also proposes to
replace references to General 5, Section
2 with the Rule 9600 Series within
Nasdaq Rules 8211 (Automated
Submission of Trading Data), 9120(r)
(Definitions) and 9610 (Application).
These amendments correct references to
General 5, Section 2, which were
erroneously made as that reference does
not exist in the Rulebook. The Exchange
is reverting the text back to the original
citations.
The Exchange proposes other minor
technical amendments to correct
grammar and punctuation. These
amendments are non-substantive.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,4 in general, and furthers the
objectives of Section 6(b)(5) of the Act,5
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest by correcting internal
4 15
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
VerDate Sep<11>2014
17:09 May 14, 2020
Jkt 250001
cross-references to its current rules,
which were relocated. These corrections
to update rule references within the
Nasdaq Disciplinary Rules will make
the rules accurate and reflect the correct
cross-referenced rules. These
amendments are non-substantive.
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 not
necessary or appropriate in furtherance
of the purposes of the Act. These
corrections to update rule references
within the Nasdaq Disciplinary Rules
will make the rules accurate and reflect
the correct cross-referenced rules. These
amendments are non-substantive.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
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 6 and Rule 19b–
4(f)(6) thereunder.7
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 8 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 9
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 Exchange
may immediately update the identified
rule references within the Nasdaq
disciplinary rules, which the Exchange
states will make the rules accurate and
reflect the correct cross-referenced rules.
6 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
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.
8 17 CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6)(iii).
7 17
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
For this reason, and to avoid any
investor confusion that may result from
inaccurate references within Nasdaq’s
disciplinary rules, 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.10
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:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NASDAQ–2020–022 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–NASDAQ–2020–022. 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 (https://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
10 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).
E:\FR\FM\15MYN1.SGM
15MYN1
Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
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–NASDAQ–2020–022 and
should be submitted on or before June
5, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–10393 Filed 5–14–20; 8:45 am]
BILLING CODE 8011–01–P
SURFACE TRANSPORTATION BOARD
[Docket No. AB 55 (Sub-No. 799X)]
jbell on DSKJLSW7X2PROD with NOTICES
CSX Transportation, Inc.—
Abandonment Exemption—in
Dickenson County, Va.
CSX Transportation, Inc. (CSXT), has
filed a verified notice of exemption
under 49 CFR part 1152 subpart F—
Exempt Abandonments to abandon an
approximately 13.65-mile rail line on its
Florence Division, Kingsport
Subdivision, Fremont Branch extending
between milepost ZF 0.0 and milepost
ZF 13.65, in Dickenson County, Va. (the
Line). The Line traverses U.S. Postal Zip
Codes 24226, 24228, and 24230.
CSXT has certified that: (1) No local
traffic has moved over the Line for at
least two years; (2) any overhead traffic
can be rerouted over other lines; (3) no
formal complaint filed by a user of rail
service on the Line (or by a state or local
government entity acting on behalf of
such user) regarding cessation of service
over the Line either is pending with the
Surface Transportation Board (Board) or
with any U.S. District Court or has been
decided in favor of complainant within
the two-year period; and (4) the
11 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:09 May 14, 2020
Jkt 250001
requirements at 49 CFR 1105.7 and
1105.8 (notice of environmental and
historic report), 49 CFR 1105.12
(newspaper publication), and 49 CFR
1152.50(d)(1) (notice to governmental
agencies) have been met.
Any employee of CSXT adversely
affected by the abandonment shall be
protected under Oregon Short Line
Railroad—Abandonment Portion
Goshen Branch Between Firth &
Ammon, in Bingham & Bonneville
Counties, Idaho, 360 I.C.C. 91 (1979). To
address whether this condition
adequately protects affected employees,
a petition for partial revocation under
49 U.S.C. 10502(d) must be filed.
Provided no formal expression of
intent to file an offer of financial
assistance (OFA) has been received,1 the
exemption will be effective on June 14,
2020, unless stayed pending
reconsideration. Petitions to stay that do
not involve environmental issues must
be filed by May 22, 2020.2 Formal
expressions of intent to file an OFA
under 49 CFR 1152.27(c)(2) and interim
trail use/rail banking requests under 49
CFR 1152.29 must be filed by May 26,
2020.3 Petitions to reopen or requests
for public use conditions under 49 CFR
1152.28 must be filed by June 4, 2020,
with the Surface Transportation Board,
395 E Street SW, Washington, DC
20423–0001.
A copy of any petition filed with the
Board should be sent to CSXT’s
representative, Louis E. Gitomer, Law
Offices of Louis E. Gitomer, LLC, 600
Baltimore Avenue, Suite 301, Towson,
MD 21204.
If the verified notice contains false or
misleading information, the exemption
is void ab initio.
CSXT has filed a combined
environmental and historic report that
addresses the potential effects, if any, of
the abandonment on the environment
and historic resources. OEA will issue a
Draft Environmental Assessment (Draft
EA) by May 22, 2020. The Draft EA will
be available to interested persons on the
1 Persons interested in submitting an OFA must
first file a formal expression of intent to file an
offer, indicating the type of financial assistance they
wish to provide (i.e., subsidy or purchase) and
demonstrating that they are preliminarily
financially responsible. See 49 CFR 1152.27(c)(2)(i).
2 The Board will grant a stay if an informed
decision on environmental issues (whether raised
by a party or by the Board’s Office of Environmental
Analysis (OEA) in its independent investigation)
cannot be made before the exemption’s effective
date. See Exemption of Out-of-Serv. Rail Lines, 5
I.C.C.2d 377 (1989). Any request for a stay should
be filed as soon as possible so that the Board may
take appropriate action before the exemption’s
effective date.
3 Filing fees for OFAs and trail use requests can
be found at 49 CFR 1002.2(f)(25) and (27),
respectively.
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
29501
Board’s website, by writing to OEA, or
by calling OEA at (202) 245–0305.
Assistance for the hearing impaired is
available through the Federal Relay
Service at (800) 877–8339. Comments
on environmental and historic
preservation matters must be filed
within 15 days after the Draft EA
becomes available to the public.
Environmental, historic preservation,
public use, or interim trail use/rail
banking conditions will be imposed,
where appropriate, in a subsequent
decision.
Pursuant to the provisions of 49 CFR
1152.29(e)(2), CSXT shall file a notice of
consummation with the Board to signify
that it has exercised the authority
granted and fully abandoned the Line. If
consummation has not been effected by
CSXT’s filing of a notice of
consummation by May 15, 2021, and
there are no legal or regulatory barriers
to consummation, the authority to
abandon will automatically expire.
Board decisions and notices are available
at www.stb.gov.
Decided: May 11, 2020.
By the Board, Allison C. Davis, Director,
Office of Proceedings.
Kenyatta Clay,
Clearance Clerk.
[FR Doc. 2020–10391 Filed 5–14–20; 8:45 am]
BILLING CODE 4915–01–P
SURFACE TRANSPORTATION BOARD
[Docket No. FD 35742 (Sub-No. 1)]
Clarkdale Arizona Central Railroad,
L.C.—Trackage Rights Exemption—
Drake Cement, LLC
Clarkdale Arizona Central Railroad,
L.C. (CACR), a Class III carrier, has filed
a verified notice of exemption under 49
CFR 1180.2(d)(7) to renew and modify
a previous trackage rights agreement 1
between CACR and Drake Cement, LLC
(Drake), also a Class III carrier,
permitting CACR to operate over Drake’s
Track Nos. 3924, 3907, 3921, and 3904,
located between milepost 0 + 15 feet
and milepost 0 + 3000 feet in Drake,
Ariz., a distance of approximately 2,985
feet. The Agreement also grants CACR
the right to operate over Drake’s Track
1 CACR states that the previous agreement
expired on December 31, 2015, although CACR has
continued to operate. A redacted version of the
renewed agreement (Agreement) was filed with
CACR’s verified notice of exemption. CACR
simultaneously filed a motion for a protective order
to protect the confidential and commercially
sensitive information in the unredacted version of
the Agreement, which CACR submitted under seal.
That motion will be addressed in a separate
decision.
E:\FR\FM\15MYN1.SGM
15MYN1
]]>Agencies
[Federal Register Volume 85, Number 95 (Friday, May 15, 2020)]
[Notices]
[Pages 29499-29501]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-10393]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-88852; File No. SR-NASDAQ-2020-022]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Certain Internal Cross-References in General 5, Discipline
May 11, 2020.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on April 28, 2020, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange proposes to amend certain internal cross-references
within General 5, Discipline.
The text of the proposed rule change is available on the Exchange's
website at https://nasdaq.cchwallstreet.com, at the principal office of
the Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
In 2019, Nasdaq relocated its rules into a new Rulebook shell.\3\
As a result, several rules referenced within the 8000 and 9000 Series
Rules contained in General 5 Discipline have been relocated under a new
rule number. At this time, Nasdaq proposes to update certain internal
cross-references within General 5, Discipline. Specifically, Nasdaq
proposes to update internal cross-references within Rules 8120
(Definitions), 9110 (Application), 9268 (Decision of Hearing Panel or
Extended Hearing Panel), 9269 (Default Decisions), 9270 (Settlement
Procedure), 9311 (Appeal by Any Party; Cross-Appeal), 9312 (Review
Proceeding Initiated By the Nasdaq Review
[[Page 29500]]
Council), 9351 (Discretionary Review by Nasdaq Board), 9360
(Effectiveness of Sanctions), 9524 (Nasdaq Review Council
Consideration), 9552 (Failure to Provide Information or Keep
Information Current), 9553 (Failure to Pay Nasdaq Dues, Fees and Other
Charges), 9554 (Failure to Comply with an Arbitration Award or Related
Settlement or an Order of Restitution or Settlement Providing for
Restitution), 9555 (Failure to Meet the Eligibility or Qualification
Standards or Prerequisites for Access to Services), 9556 (Failure to
Comply with Temporary and Permanent Cease and Desist Orders), 9557
(Procedures for Regulating Activities Under Rules 4110A and 4120A
Regarding a Member Experiencing Financial or Operational Difficulties),
9558 (Summary Proceedings for Actions Authorized by Section 6(d)(3) of
the Act), 9559 (Hearing Procedures for Expedited Proceedings Under the
Rule 9550 Series), and 9810 (Initiation of Proceeding).
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 87778 (December 17,
2019), 84 FR 70590 (December 23, 2019) (SR-NASDAQ-2019-98).
---------------------------------------------------------------------------
The Exchange proposes to update internal cross-references within
these rules as follows:
Rule 0120 to General 1(b);
Rule 1160 to General 2, Section 11;
Rule 2010A to General 9, Section 1(a);
Rule 2140 to General 9, Section 1(h);
Rule 2160 to General 2, Section 14;
Rule 4110A to General 9, Section 40; and
Rule 4120A to General 9, Section 41.
The Exchange also proposes to replace references to General 5,
Section 2 with the Rule 9600 Series within Nasdaq Rules 8211 (Automated
Submission of Trading Data), 9120(r) (Definitions) and 9610
(Application). These amendments correct references to General 5,
Section 2, which were erroneously made as that reference does not exist
in the Rulebook. The Exchange is reverting the text back to the
original citations.
The Exchange proposes other minor technical amendments to correct
grammar and punctuation. These amendments are non-substantive.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest by correcting internal cross-references to its current
rules, which were relocated. These corrections to update rule
references within the Nasdaq Disciplinary Rules will make the rules
accurate and reflect the correct cross-referenced rules. These
amendments are non-substantive.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 not necessary or appropriate in
furtherance of the purposes of the Act. These corrections to update
rule references within the Nasdaq Disciplinary Rules will make the
rules accurate and reflect the correct cross-referenced rules. These
amendments are non-substantive.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
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 \6\ and Rule 19b-
4(f)(6) thereunder.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to 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.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \8\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \9\ 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 Exchange may immediately update the identified rule references
within the Nasdaq disciplinary rules, which the Exchange states will
make the rules accurate and reflect the correct cross-referenced rules.
For this reason, and to avoid any investor confusion that may result
from inaccurate references within Nasdaq's disciplinary rules, 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.\10\
---------------------------------------------------------------------------
\8\ 17 CFR 240.19b-4(f)(6).
\9\ 17 CFR 240.19b-4(f)(6)(iii).
\10\ 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).
---------------------------------------------------------------------------
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:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-NASDAQ-2020-022 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-NASDAQ-2020-022. 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 (https://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
[[Page 29501]]
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-NASDAQ-2020-022 and should
be submitted on or before June 5, 2020.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. 2020-10393 Filed 5-14-20; 8:45 am]
BILLING CODE 8011-01-P
