Justia Agencies And Commissions Securities And Exchange Commission Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend Certain Rules Within Rules 4.5 Through 4.16, Which Contains the Exchange's Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail (“CAT NMS Plan”), To Be Consistent With Certain Proposed Amendments to and Exemptions From the CAT NMS Plan as Well as To Facilitate the Retirement of Certain Existing Regulatory Systems, 42446-42447 [2020-15118]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend Certain Rules Within Rules 4.5 Through 4.16, Which Contains the Exchange's Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail (“CAT NMS Plan”), To Be Consistent With Certain Proposed Amendments to and Exemptions From the CAT NMS Plan as Well as To Facilitate the Retirement of Certain Existing Regulatory Systems, 42446-42447 [2020-15118]

Download as PDF 42446 Federal Register / Vol. 85, No. 135 / Tuesday, July 14, 2020 / Notices government-wide data on customer experience that can be displayed on performance.gov to help build transparency and accountability of Federal programs to the customers they serve. Method of Collection: OPM will collect this information by electronic means when possible, as well as by mail, fax, telephone, technical discussions, and in-person interviews. OPM may also utilize observational techniques to collect this information. Data: Form Number(s): 3206–NEW. Type of Review: New. B. Annual Reporting Burden Affected Public: Collections will be targeted to the solicitation of opinions from respondents who have experience with the program or may have experience with the program in the near future. For the purposes of this request, ‘‘customers’’ are individuals, businesses, and organizations that interact with a Federal Government agency or program, either directly or via a Federal contractor. This could include individuals or households; businesses or other for-profit organizations; not-forprofit institutions; State, local or tribal governments; Federal government; and Universities. Estimated Number of Respondents: 250,000. Estimated Time per Response: Varied, dependent upon the data collection method used. The possible response time to complete a questionnaire or survey may be 3 minutes or up to 30 minutes to participate in an interview. Estimated Total Annual Burden Hours: 2,512,500. Estimated Total Annual Cost to Public: $47,109,375. C. Public Comments OPM invites comments on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden (including hours and cost) 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. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of this information collection; VerDate Sep<11>2014 17:58 Jul 13, 2020 Jkt 250001 they also will become a matter of public record. Office of Personnel Management. Alexys Stanley, Regulatory Affairs Analyst. [FR Doc. 2020–15100 Filed 7–13–20; 8:45 am] On June 18, 2020, the Exchange withdrew the proposed rule change (SR–CboeBYX–2020–005). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Assistant Secretary. BILLING CODE P [FR Doc. 2020–15115 Filed 7–13–20; 8:45 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89259; File No. SR– CboeBYX–2020–005] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend Certain Rules Within Rules 4.5 Through 4.16, Which Contains the Exchange’s Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail (‘‘CAT NMS Plan’’), To Be Consistent With Certain Proposed Amendments to and Exemptions From the CAT NMS Plan as Well as To Facilitate the Retirement of Certain Existing Regulatory Systems July 8, 2020. On January 22, 2020, Cboe BYX Exchange, Inc. (‘‘Exchange’’ or ‘‘BYX’’) 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 amend the Exchange’s compliance rule regarding the National Market System Plan Governing the Consolidated Audit Trail. The proposed rule change was published for comment in the Federal Register on February 5, 2020.3 On March 20, 2020, the Commission extended the time period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change, to May 5, 2020.4 On April 29, 2020, the Commission issued an order instituting proceedings under Section 19(b)(2)(B) of the Act 5 to determine whether to approve or disapprove the proposed rule change.6 The Commission received no comment letters regarding the proposed rule change. U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 88100 (January 30, 2020), 85 FR 6624. 4 See Securities Exchange Act Release No. 88438, 85 FR 17138 (March 26, 2020). 5 15 U.S.C. 78s(b)(2)(B). 6 See Securities Exchange Act Release No. 88770, 85 FR 26764 (May 5, 2020). PO 00000 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89263; File No. SR– CboeBZX–2020–011] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend Certain Rules Within Rules 4.5 Through 4.16, Which Contains the Exchange’s Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail (‘‘CAT NMS Plan’’), To Be Consistent With Certain Proposed Amendments to and Exemptions From the CAT NMS Plan as Well as To Facilitate the Retirement of Certain Existing Regulatory Systems July 8, 2020. On January 22, 2020, Cboe BZX Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’) 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 amend the Exchange’s compliance rule regarding the National Market System Plan Governing the Consolidated Audit Trail. The proposed rule change was published for comment in the Federal Register on February 5, 2020.3 On March 20, 2020, the Commission extended the time period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change, to May 5, 2020.4 On April 29, 2020, the Commission issued an order instituting proceedings under Section 19(b)(2)(B) of the Act 5 to determine whether to approve or disapprove the proposed 1 15 2 17 Frm 00101 Fmt 4703 Sfmt 4703 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 88101 (January 30, 2020), 85 FR 6589. 4 See Securities Exchange Act Release No. 88440, 85 FR 17141 (March 26, 2020). 5 15 U.S.C. 78s(b)(2)(B). 1 15 E:\FR\FM\14JYN1.SGM 14JYN1 Federal Register / Vol. 85, No. 135 / Tuesday, July 14, 2020 / Notices rule change.6 The Commission received no comment letters regarding the proposed rule change. On June 18, 2020, the Exchange withdrew the proposed rule change (SR–CboeBZX–2020–011). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–15118 Filed 7–13–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89261; File No. SR–MIAX– 2020–24] Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Temporarily Extend Filing Deadlines for Certain SupervisionRelated Reports July 8, 2020. Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on July 2, 2020, Miami International Securities Exchange, LLC (‘‘MIAX Options’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a 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 Substance of the Proposed Rule Change The Exchange is filing a proposal to amend Exchange Rule 1308, Supervision of Accounts, to temporarily extend the filing requirements for certain supervision-related reports, currently given an extension to June 30, 2020, to July 31, 2020. The text of the proposed rule change is available on the Exchange’s website at https://www.miaxoptions.com/rulefilings/ at MIAX Options’ principal office, and at the Commission’s Public Reference Room. 6 See Securities Exchange Act Release No. 88771, 85 FR 26741 (May 5, 2020). 7 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 17:58 Jul 13, 2020 Jkt 250001 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 Given current market conditions, the Exchange proposes to provide its members temporary relief from filing certain supervision-related reports pursuant to Exchange Rule 1308 (Supervision of Accounts).3 The Exchange has been closely monitoring the current situation regarding the novel coronavirus (‘‘COVID–19’’) pandemic. The Exchange understands COVID–19 has placed stress on market participants’ information technology infrastructure and the required deployment of significant resources, including to implement and continuously adapt business continuity plans. On March 11, 2020, the World Health Organization characterized COVID–19 as a pandemic.4 To slow the spread of the disease, federal and state officials implemented social-distancing measures, placed significant limitations on large gatherings, limited travel, and closed non-essential businesses. These measures have affected the U.S. markets.5 In the United States, Level 1 3 The Exchange notes that MIAX Rule 1308 is incorporated by reference into the rulebooks of MIAX PEARL, LLC (‘‘PEARL’’) and MIAX Emerald, LLC (‘‘Emerald’’). As such, the amendments to MIAX Rule 1308 proposed herein will also impact PEARL and Emerald Rules 1308. The Exchange initially filed the proposal on June 1, 2020 (SR– MIAX–2020–14). On June 4, 2020, the Exchange withdrew that filing and submitted this filing. 4 See WHO Director-General’s Opening Remarks at the Media Briefing on COVID–19 (March 11, 2020), available at https://www.who.int/dg/ speeches/detail/who-director-general-s-openingremarksat-the-media-briefing-on-covid-19---11march-2020. 5 ‘‘Analysts showed that we saw the fastest ‘correction’ in history (down 10% from a high), occurring in a matter of days. In the last week of February, the Dow fell 12.36% with notional trading of $3.6 trillion.’’ See Phil Mackintosh, Putting the Recent Volatility in Perspective, available at https://www.nasdaq.com/articles/ PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 42447 market wide circuit breaker halts were triggered on March 9, March 12, March 16, and March 18, 2020. While markets have seen significant declines, governments around the world are undertaking efforts to stabilize the economy and assist affected companies and their employees.6 While many state governments recently relaxed some social distancing measures and permitted the limited reopening of nonessential businesses, many State governments have now paused the reopening of non-essential businesses due to increased infection rates. Significant uncertainty remains. Amidst this continued and unprecedented market uncertainty, the Exchange sought to address potential challenges that members may face in timely meeting their obligations to submit to the Exchange annual supervision-related reports under Rule 1308(g) and (h) (‘‘Supervision Reporting Requirements’’), especially in light of unforeseen and uncertain demands on resources required to respond to COVID–19. By way of background, Exchange Rule 1308(g) requires each Exchange member that conducts a nonmember customer business to submit to the Exchange a written report on the member’s supervision and compliance effort during the preceding year and on the adequacy of the member’s ongoing compliance processes and procedures. Each member that conducts a public customer options business is also required to specifically include its options compliance program in the report.7 The Exchange Rule 1308(g) report is due on April 1 of each year. Exchange Rule 1308(h) requires that each member submit, by April 1 of each year, a copy of the Rule 1308(g) report to one or more control persons or, if the member has no control person, to the audit committee of its board of directors or its equivalent committee or group.8 On each of March 31, 2020 and June 4, 2020, the Exchange filed a proposal to temporarily extend the filing requirements for these annual supervision-related reports from April 1, 2020 to June 1, 2020 and from June 1, putting-the-recent-volatility-in-perspective2020-0305. 6 See, e.g., the list of actions undertaken by the Board of Governors of the Federal Reserve System at https://www.federalreserve.gov/covid-19.htm. See also Families First Coronavirus Response Act, Public Law 116–127. 7 The report shall include, but not be limited to, the information set out in Exchange Rule 1308(g)(1)–(6). 8 See Exchange Rule 1308(h) for the meaning of the term ‘‘control person’’ and requirements in the case of a control person that is an organization. E:\FR\FM\14JYN1.SGM 14JYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 85, Number 135 (Tuesday, July 14, 2020)]
[Notices]
[Pages 42446-42447]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15118]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89263; File No. SR-CboeBZX-2020-011]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Withdrawal of a Proposed Rule Change To Amend Certain Rules Within 
Rules 4.5 Through 4.16, Which Contains the Exchange's Compliance Rule 
Regarding the National Market System Plan Governing the Consolidated 
Audit Trail (``CAT NMS Plan''), To Be Consistent With Certain Proposed 
Amendments to and Exemptions From the CAT NMS Plan as Well as To 
Facilitate the Retirement of Certain Existing Regulatory Systems

July 8, 2020.
    On January 22, 2020, Cboe BZX Exchange, Inc. (``Exchange'' or 
``BZX'') 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 amend the Exchange's compliance rule regarding 
the National Market System Plan Governing the Consolidated Audit Trail. 
The proposed rule change was published for comment in the Federal 
Register on February 5, 2020.\3\ On March 20, 2020, the Commission 
extended the time period within which to approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether to approve or disapprove the proposed rule change, 
to May 5, 2020.\4\ On April 29, 2020, the Commission issued an order 
instituting proceedings under Section 19(b)(2)(B) of the Act \5\ to 
determine whether to approve or disapprove the proposed

[[Page 42447]]

rule change.\6\ The Commission received no comment letters regarding 
the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 88101 (January 30, 
2020), 85 FR 6589.
    \4\ See Securities Exchange Act Release No. 88440, 85 FR 17141 
(March 26, 2020).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 88771, 85 FR 26741 
(May 5, 2020).
---------------------------------------------------------------------------

    On June 18, 2020, the Exchange withdrew the proposed rule change 
(SR-CboeBZX-2020-011).
    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-15118 Filed 7-13-20; 8:45 am]
BILLING CODE 8011-01-P

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