Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan To Address Extraordinary Market Volatility To Add MIAX PEARL LLC as a Participant, 63322-63323 [2020-22117]

Download as PDF 63322 Federal Register / Vol. 85, No. 195 / Wednesday, October 7, 2020 / Notices 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–FINRA–2020–031. 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 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of FINRA. 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–FINRA– 2020–031 and should be submitted on or before October 28, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.46 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–22097 Filed 10–6–20; 8:45 am] CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:21 Oct 06, 2020 [Release No. 34–90068; File No. 4–631] Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan To Address Extraordinary Market Volatility To Add MIAX PEARL LLC as a Participant October 1, 2020. Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 608 thereunder,2 notice is hereby given that on September 8, 2020, MIAX PEARL LLC (‘‘MIAX PEARL’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) an amendment to the Plan to Address Extraordinary Market Volatility (‘‘LULD Plan’’ or ‘‘Plan’’) as a Participant.3 The amendment adds MIAX PEARL as a Participant 4 to the LULD Plan. The Commission is publishing this notice to solicit comments on the amendment from interested persons. I. Description and Purpose of the Amendment On August 14, 2020, the Commission issued an order approving MIAX PEARL’s proposal to adopt rules governing the trading of equity securities.5 As noted above, the proposed amendment adds MIAX PEARL as a Participant to the LULD Plan. Under Section II(C) of the LULD Plan, any entity registered as a national securities exchange or national securities association under the Exchange Act may become a Participant by: (1) Becoming a participant in the applicable Market Data Plans; (2) executing a copy of the Plan, as then in effect; (3) providing each then-current Participant with a copy of such executed Plan; and (4) effecting an amendment to the Plan as specified in Section III(B) of the Plan. Section III(B) of the LULD Plan sets forth the process for a prospective new Participant to U.S.C. 78k–1(a)(3). CFR 242.608. 3 See Letter from Christopher Solgan, Vice President and Senior Counsel, dated September 8, 2020 to Vanessa Countryman, Secretary, Commission. On May 6, 2012, the Commission issued an order approving the Plan on a pilot basis (the ‘‘Approval Order’’). See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6, 2012). The Commission approved the LULD Plan on a permanent basis on April 11, 2019. See Securities Exchange Act Release No. 85623, 84 FR 16086 (April 17, 2019). 4 Defined in Section I(K) of the Plan as follows: ‘‘Participant’’ means a Party to the Plan. 5 See Securities Exchange Act Release No. 89563 (August 14, 2020), 85 FR 51510 (August 20, 2020). Jkt 253001 effect an amendment of the Plan. Specifically, the LULD Plan provides that such an amendment to the Plan may be effected by the new national securities exchange or national securities association by executing a copy of the Plan as then in effect (with the only changes being the addition of the new Participant’s name in Section II(A) of the Plan); and submitting such executed Plan to the Commission. The amendment will be effective when it is approved by the Commission in accordance with Rule 608 of Regulation NMS, or otherwise becomes effective pursuant to Rule 608 of Regulation NMS. MIAX PEARL has become a participant in the applicable Market Data Plans,6 executed a copy of the Plan currently in effect, with the only change being the addition of its name in Section II(A) of the Plan, and has provided a copy of the Plan executed by MIAX PEARL to each of the other Participants. MIAX PEARL has also submitted the executed Plan to the Commission. Accordingly, all of the Plan requirements for effecting an amendment to the Plan to add MIAX PEARL as a Participant have been satisfied. II. Effectiveness of the Proposed Amendment The foregoing Plan amendment has become effective pursuant to Rule 608(b)(3)(iii) 7 because it involves solely technical or ministerial matters. At any time within sixty days of the filing of this amendment, the Commission may summarily abrogate the amendment and require that it be refiled pursuant to paragraph (a)(1) of Rule 608,8 if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or the maintenance of fair and orderly markets, to remove impediments to, and perfect the mechanisms of, a national market system or otherwise in furtherance of the purposes of the Act. 1 15 2 17 BILLING CODE 8011–01–P 46 17 SECURITIES AND EXCHANGE COMMISSION PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 6 See Letter from Robert Books, Chairman, Operating Committee, CTA/CQ Plans, to Vanessa Countryman, Secretary, Commission, dated September 3, 2020 to Vanessa Countryman, Secretary, SEC (relating to Thirty-Fourth Substantive Amendment to the Second Restatement of the CTA Plan and Twenty-Fifth Substantive Amendment to the Restated CQ Plan adding MIAX PEARL as a participant) and letter from Robert Books, Chairman, Operating Committee, UTP Plan, to Vanessa Countryman, Secretary, Commission, dated September 3, 2020 (relating to Forty-Eighth Amendment to the UTP Plan adding MIAX PEARL as a participant). 7 17 CFR 242.608(b)(3)(iii). 8 17 CFR 242.608(a)(1). E:\FR\FM\07OCN1.SGM 07OCN1 Federal Register / Vol. 85, No. 195 / Wednesday, October 7, 2020 / Notices III. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the amendment 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 4– 631 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 4–631. 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 plan amendment that are filed with the Commission, and all written communications relating to the proposed plan amendment 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 20549–1090 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 4–631 and should be submitted on or before October 28, 2020. By the Commission. J. Matthew DeLesDernier, Assistant Secretary. Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Amendments to the By-Laws of the Municipal Securities Rulemaking Board To Reflect Recent Changes To MSRB Rules A–3, A–4, and A–6 October 1, 2020. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 25, 2020 the Municipal Securities Rulemaking Board (‘‘MSRB’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the MSRB. 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 MSRB filed with the Commission a proposed rule change consisting of amendments to the By-Laws of the MSRB (‘‘Bylaws’’) to reflect recent changes to MSRB Rules A–3, A–4, and A–6 (the ‘‘proposed rule change’’). The MSRB has designated the proposed rule change as ‘‘concerned solely with the administration of the self regulatory organization’’ under Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(3) 4 thereunder, which renders the proposal effective upon filing with the Commission. The text of the proposed rule change is available on the MSRB’s website at www.msrb.org/Rules-andInterpretations/SEC-Filings/2020Filings.aspx, at the MSRB’s principal office, 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 MSRB included statements concerning the purpose of and basis for the proposed rule change and discussed any U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(3). 2 17 BILLING CODE 8011–01–P 17:21 Oct 06, 2020 [Release No. 34–90066; File No. SR–MSRB– 2020–07] 1 15 [FR Doc. 2020–22117 Filed 10–6–20; 8:45 am] VerDate Sep<11>2014 SECURITIES AND EXCHANGE COMMISSION Jkt 253001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 63323 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 MSRB 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 MSRB Rules A–2 through A–10 are reproduced in the Bylaws as Articles 2 through 10. Accordingly, when amendments are made to MSRB Rules A–2 through A–10, the Bylaws must be updated to reflect the changes. On August 5, the Commission approved amendments to MSRB Rules A–3 and A–6, effective October 1, 2020.5 On September 15, the Board filed additional amendments to MSRB Rule A–3 and amendments to MSRB Rule A–4 that were immediately effective and will become operative on October 1, 2020.6 As a result of these amendments, changes to Articles 3, 4 and 6 of the Bylaws are necessary so that the Bylaws reflect the corresponding rules as they will read on October 1, 2020. Additionally, a cross-reference in Article 16 of the Bylaws to MSRB Rule A–4(c) must also be updated because the relevant provision of MSRB Rule A–4(c) has been moved into a new subsection, A–4(e). 2. Statutory Basis The MSRB believes that the proposed rule change is consistent with Section 15B(b)(2)(I) of the Exchange Act,7 which provides that the MSRB’s rules shall: provide for the operation and administration of the Board, including the selection of a Chairman from among the members of the Board, the compensation of the members of the Board, and the appointment and compensation of such employees, attorneys, and consultants as may be necessary or appropriate to carry out the Board’s functions under this section. The proposed rule change is consistent with Section 15B(b)(2)(I) of the Exchange Act 8 because it provides for the operation and administration of the Board in that it ensures that the Bylaws reflect, and are consistent with, 5 See Exchange Act Release No. 89484 (Aug. 5, 2020), 85 FR 48579 (Aug. 11, 2020) (File No. SR– MSRB–2020–04). 6 File No. SR–MSRB–2020–05, available at https:// www.msrb.org/Rules-and-Interpretations/SECFilings.aspx. 7 15 U.S.C. 78o–4(b)(2)(I). 8 Id. E:\FR\FM\07OCN1.SGM 07OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 85, Number 195 (Wednesday, October 7, 2020)]
[Notices]
[Pages 63322-63323]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22117]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90068; File No. 4-631]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan To Address Extraordinary Market Volatility To 
Add MIAX PEARL LLC as a Participant

October 1, 2020.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given 
that on September 8, 2020, MIAX PEARL LLC (``MIAX PEARL'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') an amendment to the Plan to Address Extraordinary 
Market Volatility (``LULD Plan'' or ``Plan'') as a Participant.\3\ The 
amendment adds MIAX PEARL as a Participant \4\ to the LULD Plan. The 
Commission is publishing this notice to solicit comments on the 
amendment from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ See Letter from Christopher Solgan, Vice President and 
Senior Counsel, dated September 8, 2020 to Vanessa Countryman, 
Secretary, Commission. On May 6, 2012, the Commission issued an 
order approving the Plan on a pilot basis (the ``Approval Order''). 
See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 
33498 (June 6, 2012). The Commission approved the LULD Plan on a 
permanent basis on April 11, 2019. See Securities Exchange Act 
Release No. 85623, 84 FR 16086 (April 17, 2019).
    \4\ Defined in Section I(K) of the Plan as follows: 
``Participant'' means a Party to the Plan.
---------------------------------------------------------------------------

I. Description and Purpose of the Amendment

    On August 14, 2020, the Commission issued an order approving MIAX 
PEARL's proposal to adopt rules governing the trading of equity 
securities.\5\ As noted above, the proposed amendment adds MIAX PEARL 
as a Participant to the LULD Plan.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 89563 (August 14, 
2020), 85 FR 51510 (August 20, 2020).
---------------------------------------------------------------------------

    Under Section II(C) of the LULD Plan, any entity registered as a 
national securities exchange or national securities association under 
the Exchange Act may become a Participant by: (1) Becoming a 
participant in the applicable Market Data Plans; (2) executing a copy 
of the Plan, as then in effect; (3) providing each then-current 
Participant with a copy of such executed Plan; and (4) effecting an 
amendment to the Plan as specified in Section III(B) of the Plan. 
Section III(B) of the LULD Plan sets forth the process for a 
prospective new Participant to effect an amendment of the Plan. 
Specifically, the LULD Plan provides that such an amendment to the Plan 
may be effected by the new national securities exchange or national 
securities association by executing a copy of the Plan as then in 
effect (with the only changes being the addition of the new 
Participant's name in Section II(A) of the Plan); and submitting such 
executed Plan to the Commission. The amendment will be effective when 
it is approved by the Commission in accordance with Rule 608 of 
Regulation NMS, or otherwise becomes effective pursuant to Rule 608 of 
Regulation NMS.
    MIAX PEARL has become a participant in the applicable Market Data 
Plans,\6\ executed a copy of the Plan currently in effect, with the 
only change being the addition of its name in Section II(A) of the 
Plan, and has provided a copy of the Plan executed by MIAX PEARL to 
each of the other Participants. MIAX PEARL has also submitted the 
executed Plan to the Commission. Accordingly, all of the Plan 
requirements for effecting an amendment to the Plan to add MIAX PEARL 
as a Participant have been satisfied.
---------------------------------------------------------------------------

    \6\ See Letter from Robert Books, Chairman, Operating Committee, 
CTA/CQ Plans, to Vanessa Countryman, Secretary, Commission, dated 
September 3, 2020 to Vanessa Countryman, Secretary, SEC (relating to 
Thirty-Fourth Substantive Amendment to the Second Restatement of the 
CTA Plan and Twenty-Fifth Substantive Amendment to the Restated CQ 
Plan adding MIAX PEARL as a participant) and letter from Robert 
Books, Chairman, Operating Committee, UTP Plan, to Vanessa 
Countryman, Secretary, Commission, dated September 3, 2020 (relating 
to Forty-Eighth Amendment to the UTP Plan adding MIAX PEARL as a 
participant).
---------------------------------------------------------------------------

II. Effectiveness of the Proposed Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) \7\ because it involves solely technical or ministerial 
matters. At any time within sixty days of the filing of this amendment, 
the Commission may summarily abrogate the amendment and require that it 
be refiled pursuant to paragraph (a)(1) of Rule 608,\8\ if it appears 
to the Commission that such action is necessary or appropriate in the 
public interest, for the protection of investors, or the maintenance of 
fair and orderly markets, to remove impediments to, and perfect the 
mechanisms of, a national market system or otherwise in furtherance of 
the purposes of the Act.
---------------------------------------------------------------------------

    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(a)(1).

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[[Page 63323]]

III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment 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 4-631 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 4-631. 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 plan amendment that are filed 
with the Commission, and all written communications relating to the 
proposed plan amendment 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 20549-1090 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 4-631 and should be submitted 
on or before October 28, 2020.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-22117 Filed 10-6-20; 8:45 am]
BILLING CODE 8011-01-P

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