Sunshine Act Meeting; Date Change, 24059 [2021-09552]
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Federal Register / Vol. 86, No. 85 / Wednesday, May 5, 2021 / Notices
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–CBOE–2021–023 and
should be submitted on or before May
26, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–09447 Filed 5–4–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting; Date Change
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 86 FR 23458, May 3,
2021.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Thursday, May 6, 2021 at
2:00 p.m.
The Closed
Meeting scheduled for Thursday, May 6,
2021 at 2:00 p.m., has been changed to
Friday, May 7, 2021 at 1:00 p.m.
CHANGES IN THE MEETING:
CONTACT PERSON FOR MORE INFORMATION:
For further information; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Dated: May 3, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021–09552 Filed 5–3–21; 11:15 am]
SECURITIES AND EXCHANGE
COMMISSION
the most significant aspects of such
statements.
[Release No. 34–91729; File No. SR–
CboeBYX–2021–009]
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Self-Regulatory Organizations; Cboe
BYX Exchange, Inc.; Notice of Filing of
a Proposed Rule Change To Amend
the Sixth Amended and Restated
Bylaws of Cboe BYX Exchange, Inc.’s
Parent Corporation, Cboe Global
Markets, Inc. To Implement Proxy
Access
April 29, 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 April 16,
2021, Cboe BYX Exchange, Inc.
(‘‘Exchange’’ or ‘‘BYX’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘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 Substance of
the Proposed Rule Change
Cboe BYX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BYX’’) is filing with the
Securities and Exchange Commission
(the ‘‘Commission’’) a proposed rule
change with respect to amendments to
the Sixth Amended and Restated
Bylaws (the ‘‘CGM Bylaws’’) of its
parent corporation, Cboe Global
Markets, Inc. (‘‘Cboe’’ or ‘‘Corporation’’).
The text of the proposed rule change is
provided in Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (https://markets.cboe.com/us/
equities/regulation/rule_filings/byx/), at
the Exchange’s Office of the Secretary,
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
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1 15
17 17
CFR 200.30–3(a)(12).
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23:06 May 04, 2021
2 17
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
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1. Purpose
Cboe has received a stockholder
proposal submitted pursuant to Rule
14a–8 under the Act 3 which requested
that the CGM Board take steps to
implement a ‘‘proxy access’’ bylaw
provision. In general, proxy access
bylaws allow a stockholder, or group of
stockholders, who comply with certain
requirements, to nominate candidates
for service on a board and have those
candidates included in a company’s
proxy materials. Such provisions have
become common among S&P 500
companies.4 Cboe has determined to
take the stockholder’s requested steps to
implement proxy access. Accordingly,
the Exchange now proposes to make
these changes by adopting new Section
2.16 of the CGM Bylaws and making
certain conforming changes to current
Sections 2.10 and 2.11 of the CGM
Bylaws, all of which are described
further below.
In developing its proposal, Cboe
generally tried to balance the relative
weight of arguments for and against
proxy access provisions. On the one
hand, Cboe recognizes the significance
of this issue to some investors, who see
proxy access as an important
accountability mechanism that allows
them to participate in board elections
through the nomination of stockholder
candidates that are presented in a
company’s proxy statement. On the
other hand, Cboe’s proposed proxy
access provision includes certain
procedural requirements that are
designed to help ensure, among other
things, that Cboe and its stockholders
will have full and accurate information
about nominating stockholders and their
nominees and that such stockholders
and nominees will comply with
applicable laws, regulations and other
requirements. Additionally, the
Exchange notes the proposed terms are
common among companies that have
adopted proxy access. The Exchange
also notes that the parent companies of
other exchanges have adopted
substantively similar proxy access
provisions and the Exchange does not
3 See 17 CFR 240.14a–8, which requires
companies that are subject to the federal proxy rules
to include shareholder proposals in companies’
proxy statements to shareholders, subject to certain
procedural and substantive requirements.
4 More than 75% of S&P 500 companies have
adopted proxy access bylaw provisions.
E:\FR\FM\05MYN1.SGM
05MYN1
Agencies
[Federal Register Volume 86, Number 85 (Wednesday, May 5, 2021)]
[Notices]
[Page 24059]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09552]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting; Date Change
FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: 86 FR 23458, May 3,
2021.
PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, May 6,
2021 at 2:00 p.m.
CHANGES IN THE MEETING: The Closed Meeting scheduled for Thursday, May
6, 2021 at 2:00 p.m., has been changed to Friday, May 7, 2021 at 1:00
p.m.
CONTACT PERSON FOR MORE INFORMATION: For further information; please
contact Vanessa A. Countryman from the Office of the Secretary at (202)
551-5400.
Dated: May 3, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021-09552 Filed 5-3-21; 11:15 am]
BILLING CODE 8011-01-P