Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding the Listing and Trading Rule for Shares of the Alger 25 ETF, 12501-12503 [2021-04308]
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Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices
The meeting will be conducted
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On February 17, 2021, the Commission
published notice of the Committee
meeting (Release Nos. 33–10927, 34–
91150), indicating that the meeting is
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PLACE:
Dated: March 1, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021–04490 Filed 3–1–21; 4:15 pm]
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[Release No. 34–91214; File No. 265–33]
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jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY:
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12501
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Dated: February 26, 2021.
Vanessa A. Countryman,
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[FR Doc. 2021–04394 Filed 3–2–21; 8:45 am]
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Electronic Statements
[Release No. 34–91210; File No. SR–
NYSEArca–2021–14]
• Use the Commission’s internet
submission form (https://www.sec.gov/
rules/other.shtml); or
• Send an email message to rulecomments@sec.gov. Please include File
Number 265–33 on the subject line; or
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Regarding the Listing
and Trading Rule for Shares of the
Alger 25 ETF
Paper Statements
February 25, 2021.
• Send paper statements to Vanessa
Countryman, Federal Advisory
Committee Management Officer,
Securities and Exchange Commission,
100 F Street NE, Washington, DC
20549–1090.
All submissions should refer to File No.
265–33. This file number should be
included on the subject line if email is
used. The Commission will post all
statements on the Commission’s website
at (https://www.sec.gov/comments/26533/265-33.htm).
Statements also will be available for
website viewing and printing in the
Commission’s Public Reference Room,
100 F Street NE, Room 1580,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. For up-to-date
information on the availability of the
Public Reference Room, please refer to
https://www.sec.gov/fast-answers/
answerspublicdocshtm.html or call
(202) 551–5450.
All statements received will be posted
without change. Persons submitting
comments are cautioned that we do not
redact or edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly.
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Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on February
22, 2021, NYSE Arca, Inc. (‘‘NYSE
Arca’’ 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 self-regulatory organization. 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 proposes to update
certain representations regarding the
Alger 25 ETF (the ‘‘Fund’’). The
Securities and Exchange Commission
(‘‘Commission’’) has approved listing
and trading of shares of the Fund on the
Exchange under NYSE Arca Rule 8.900–
E (Managed Portfolio Shares).4 Shares of
the Fund have not commenced listing
and trading on the Exchange. The
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
4 See note 5, infra.
2 15
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Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices
proposed rule change is available on the
Exchange’s website at www.nyse.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
self-regulatory organization 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 those 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 parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
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1. Purpose
The Commission has approved a
proposed rule change relating to listing
and trading on the Exchange of shares
(‘‘Shares’’) of the Fund under NYSE
Arca Rule 8.900–E,5 which governs the
listing and trading of Managed Portfolio
Shares on the Exchange.6 The Shares of
the Fund were to be issued by The Alger
ETF Trust (the ‘‘Trust’’), which is
registered with the Commission as an
5 See Securities Exchange Act Release No. 90528
(November 30, 2020), 85 FR 78389 (December 4,
2020) (SR–NYSEArca–2020–80) (Order Approving a
Proposed Rule Change, as Modified by Amendment
No. 2, to List and Trade Shares of Alger Mid Cap
40 ETF and Alger 25 ETF under NYSE Arca Rule
8.900–E) (the ‘‘Prior Order’’); see also Amendment
No. 2 to SR–NYSEArca–2020–80, available at
https://www.sec.gov/comments/sr-nysearca-202080/srnysearca202080-7985015-225090.pdf (the
‘‘Prior Filing’’).
6 NYSE Arca Rule 8.900–E provides that a
Managed Portfolio Share is security that (a)
represents an interest in an investment company
registered under the Investment Company Act of
1940 (‘‘Investment Company’’) organized as an
open-end management investment company that
invests in a portfolio of securities selected by the
Investment Company’s investment adviser
consistent with the Investment Company’s
investment objectives and policies; (b) is issued in
a Creation Unit, or multiples thereof, in return for
a designated portfolio of instruments (and/or an
amount of cash) with a value equal to the next
determined net asset value and delivered to the
Authorized Participant (as defined in the
Investment Company’s Form N–1A filed with the
Commission) through a Confidential Account; (c)
when aggregated into a Redemption Unit, or
multiples thereof, may be redeemed for a
designated portfolio of instruments (and/or an
amount of cash) with a value equal to the next
determined net asset value delivered to the
Confidential Account for the benefit of the
Authorized Participant; and (d) the portfolio
holdings for which are disclosed within at least 60
days following the end of every fiscal quarter.
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open-end management investment
company.7 Shares of the Fund have not
commenced listing and trading on the
Exchange.
The Exchange proposes to update two
representations made in the Prior Filing
and the Prior Order relating to the Fund.
The Exchange proposes to (1) update the
name of the Fund to the Alger 35 ETF
and (2) update the number of holdings
that the Fund will generally own to
approximately 35, rather than
approximately 25 as represented in the
Prior Filing. The Prior Filing
represented that the Fund’s primary
objective is to seek long-term capital
appreciation and that the Fund will
primarily invest in equity securities of
growth companies of any market
capitalization listed on U.S. exchanges,
including common or preferred stocks,
and these representations are
unchanged with respect to the Alger 35
ETF. The Alger 35 ETF will differ from
the Fund only in that it will generally
own approximately 35 holdings, instead
of approximately 25 holdings.
2. Statutory Basis
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(5) 8 that an exchange
have rules that are designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to remove
impediments to, and perfect the
mechanism of a free and open market
and, in general, to protect investors and
the public interest.
This proposed rule change merely
updates the name of the Fund and the
approximate number of holdings that
the Fund will own, in accordance with
the Registration Statement. Other than
this proposed change, all statements in
the Prior Filing remain unchanged,
including that the Alger 35 ETF will
have the same investment objectives as
7 The Trust is registered under the Investment
Company Act of 1940 (the ‘‘1940 Act’’). On August
17, 2020, the Trust filed a registration statement on
Form N–1A under the Securities Act of 1933 (the
‘‘1933 Act’’) and the 1940 Act for the Alger Mid Cap
40 ETF and the Alger 25 ETF (File No. 811–23603).
On February 19, 2021, the Trust filed an amended
registration statement on Form N–1A under the
1933 Act and 1940 Act for the Alger Mid Cap 40
ETF and the Alger 35 ETF (File Nos. 811–23603 and
333–248085) (the ‘‘Registration Statement’’). In
response to the Trust’s application for exemptive
relief (File No. 812–15117), the Commission issued
an order granting such relief to the Trust under the
1940 Act on May 19, 2020 (Investment Company
Act Release No. 33869). The description of the
operation of the Trust and the Alger 35 ETF,
formerly known as the Alger 25 ETF, herein is
based, in part, on the Registration Statement. The
Exchange will not commence trading in shares of
the Alger 35 ETF until the Registration Statement
is effective.
8 15 U.S.C. 78f(b)(5).
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the Fund and will invest in the same
types of securities as the Fund.
Accordingly, the Exchange believes that
this proposed rule change raises no
novel regulatory issues.
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 that is not
necessary or appropriate in furtherance
of the purpose of the Act. The proposed
change does not introduce a new
product, but rather proposes to update
representations regarding the Fund that
would not impose any burden on
competition not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 9 and Rule
19b–4(f)(6) thereunder.10 Because the
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
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),12 the
Commission may 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 proposal may
become operative immediately upon
filing to accommodate the listing and
trading of the Shares of the Alger 35
9 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
10 17
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Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices
ETF on the Exchange prior to 30 days
after the date of the filing. The Shares
of the Fund have not yet commenced
listing and trading, and the proposed
changes to the rule governing their
listing and trading raise no novel or
regulatory issues. For these reasons, the
Commission believes that waiver of the
operative delay is consistent with the
protection of investors and the public
interest, and the Commission hereby
waives the 30-day operative delay and
designates the proposed rule change to
be operative upon filing.13
At any time within 60 days of the
filing of such 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.
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–NYSEArca–2021–14 and
should be submitted on or before March
24, 2021.
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Matthew DeLesDernier,
Assistant Secretary.
jbell on DSKJLSW7X2PROD with NOTICES
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–
NYSEArca–2021–14 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–NYSEArca–2021–14. 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
13 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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[FR Doc. 2021–04308 Filed 3–2–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91212; File No. SR–
NASDAQ–2020–100]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Designation of a Longer Period for
Commission Action on a Proposed
Rule Change To Modify the Quorum
Requirement for Non-U.S. Companies
Under Certain Limited Circumstances
February 25, 2021.
On December 31, 2020, the Nasdaq
Stock Market LLC 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
modify the quorum requirement
applicable to a non-U.S. company where
such company’s home country law is in
direct conflict with Nasdaq’s quorum
requirement. The proposed rule change
was published for comment in the
Federal Register on January 15, 2021.3
The Commission has received no
comment letters on the proposed rule
change.
Section 19(b)(2) of the Act 4 provides
that, within 45 days of the publication
of notice of the filing of a propose 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 published 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 the
proposed rule change is March 1, 2021.
The Commission is extending this 45day period.
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, pursuant to
Section 19(b)(2) of the Act,5 the
Commission designates April 15, 2021,
as the date by which the Commission
shall either approve or disapprove, or
institute proceedings to determine
whether to approve or disapprove, the
proposed rule change (File No. SR–
NASDAQ–2020–100).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–04310 Filed 3–2–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91208; File No. SR–
NASDAQ–2021–009]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing of Proposed Rule Change To
Amend Rule 4754 Relating to the LimitUp Limit-Down Closing Cross
February 25, 2021.
Pursuant to 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 February
11, 2021, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
14 17
4 15
1 15
5 15
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. 90883
(January 11, 2021), 86 FR 4158.
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12503
U.S.C. 78s(b)(2).
U.S.C. 78s(b)(2).
6 17 CFR 200.30–3(a)(31).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
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]]>Agencies
[Federal Register Volume 86, Number 40 (Wednesday, March 3, 2021)]
[Notices]
[Pages 12501-12503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04308]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-91210; File No. SR-NYSEArca-2021-14]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Regarding the
Listing and Trading Rule for Shares of the Alger 25 ETF
February 25, 2021.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on February 22, 2021, NYSE Arca, Inc. (``NYSE Arca'' 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 self-regulatory
organization. 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\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to update certain representations regarding
the Alger 25 ETF (the ``Fund''). The Securities and Exchange Commission
(``Commission'') has approved listing and trading of shares of the Fund
on the Exchange under NYSE Arca Rule 8.900-E (Managed Portfolio
Shares).\4\ Shares of the Fund have not commenced listing and trading
on the Exchange. The
[[Page 12502]]
proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.
---------------------------------------------------------------------------
\4\ See note 5, infra.
---------------------------------------------------------------------------
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 self-regulatory organization
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 those 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 parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Commission has approved a proposed rule change relating to
listing and trading on the Exchange of shares (``Shares'') of the Fund
under NYSE Arca Rule 8.900-E,\5\ which governs the listing and trading
of Managed Portfolio Shares on the Exchange.\6\ The Shares of the Fund
were to be issued by The Alger ETF Trust (the ``Trust''), which is
registered with the Commission as an open-end management investment
company.\7\ Shares of the Fund have not commenced listing and trading
on the Exchange.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 90528 (November 30,
2020), 85 FR 78389 (December 4, 2020) (SR-NYSEArca-2020-80) (Order
Approving a Proposed Rule Change, as Modified by Amendment No. 2, to
List and Trade Shares of Alger Mid Cap 40 ETF and Alger 25 ETF under
NYSE Arca Rule 8.900-E) (the ``Prior Order''); see also Amendment
No. 2 to SR-NYSEArca-2020-80, available at https://www.sec.gov/comments/sr-nysearca-2020-80/srnysearca202080-7985015-225090.pdf
(the ``Prior Filing'').
\6\ NYSE Arca Rule 8.900-E provides that a Managed Portfolio
Share is security that (a) represents an interest in an investment
company registered under the Investment Company Act of 1940
(``Investment Company'') organized as an open-end management
investment company that invests in a portfolio of securities
selected by the Investment Company's investment adviser consistent
with the Investment Company's investment objectives and policies;
(b) is issued in a Creation Unit, or multiples thereof, in return
for a designated portfolio of instruments (and/or an amount of cash)
with a value equal to the next determined net asset value and
delivered to the Authorized Participant (as defined in the
Investment Company's Form N-1A filed with the Commission) through a
Confidential Account; (c) when aggregated into a Redemption Unit, or
multiples thereof, may be redeemed for a designated portfolio of
instruments (and/or an amount of cash) with a value equal to the
next determined net asset value delivered to the Confidential
Account for the benefit of the Authorized Participant; and (d) the
portfolio holdings for which are disclosed within at least 60 days
following the end of every fiscal quarter.
\7\ The Trust is registered under the Investment Company Act of
1940 (the ``1940 Act''). On August 17, 2020, the Trust filed a
registration statement on Form N-1A under the Securities Act of 1933
(the ``1933 Act'') and the 1940 Act for the Alger Mid Cap 40 ETF and
the Alger 25 ETF (File No. 811-23603). On February 19, 2021, the
Trust filed an amended registration statement on Form N-1A under the
1933 Act and 1940 Act for the Alger Mid Cap 40 ETF and the Alger 35
ETF (File Nos. 811-23603 and 333-248085) (the ``Registration
Statement''). In response to the Trust's application for exemptive
relief (File No. 812-15117), the Commission issued an order granting
such relief to the Trust under the 1940 Act on May 19, 2020
(Investment Company Act Release No. 33869). The description of the
operation of the Trust and the Alger 35 ETF, formerly known as the
Alger 25 ETF, herein is based, in part, on the Registration
Statement. The Exchange will not commence trading in shares of the
Alger 35 ETF until the Registration Statement is effective.
---------------------------------------------------------------------------
The Exchange proposes to update two representations made in the
Prior Filing and the Prior Order relating to the Fund. The Exchange
proposes to (1) update the name of the Fund to the Alger 35 ETF and (2)
update the number of holdings that the Fund will generally own to
approximately 35, rather than approximately 25 as represented in the
Prior Filing. The Prior Filing represented that the Fund's primary
objective is to seek long-term capital appreciation and that the Fund
will primarily invest in equity securities of growth companies of any
market capitalization listed on U.S. exchanges, including common or
preferred stocks, and these representations are unchanged with respect
to the Alger 35 ETF. The Alger 35 ETF will differ from the Fund only in
that it will generally own approximately 35 holdings, instead of
approximately 25 holdings.
2. Statutory Basis
The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \8\ that an exchange have rules that
are designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to remove
impediments to, and perfect the mechanism of a free and open market
and, in general, to protect investors and the public interest.
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\8\ 15 U.S.C. 78f(b)(5).
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This proposed rule change merely updates the name of the Fund and
the approximate number of holdings that the Fund will own, in
accordance with the Registration Statement. Other than this proposed
change, all statements in the Prior Filing remain unchanged, including
that the Alger 35 ETF will have the same investment objectives as the
Fund and will invest in the same types of securities as the Fund.
Accordingly, the Exchange believes that this proposed rule change
raises no novel regulatory issues.
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 that is not necessary or appropriate
in furtherance of the purpose of the Act. The proposed change does not
introduce a new product, but rather proposes to update representations
regarding the Fund that would not impose any burden on competition not
necessary or appropriate in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
Because the 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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\12\ the Commission
may 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 proposal
may become operative immediately upon filing to accommodate the listing
and trading of the Shares of the Alger 35
[[Page 12503]]
ETF on the Exchange prior to 30 days after the date of the filing. The
Shares of the Fund have not yet commenced listing and trading, and the
proposed changes to the rule governing their listing and trading raise
no novel or regulatory issues. For these reasons, the Commission
believes that waiver of the operative delay is consistent with the
protection of investors and the public interest, and the Commission
hereby waives the 30-day operative delay and designates the proposed
rule change to be operative upon filing.\13\
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\11\ 17 CFR 240.19b-4(f)(6).
\12\ 17 CFR 240.19b-4(f)(6)(iii).
\13\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of such 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.
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-NYSEArca-2021-14 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-NYSEArca-2021-14. 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-NYSEArca-2021-14 and should be submitted
on or before March 24, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-04308 Filed 3-2-21; 8:45 am]
BILLING CODE 8011-01-P
