Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Make Permanent Commentaries to Rule 7.35A and Commentaries to Rule 7.35B and Make Related Changes to Rules 7.32, 7.35C, 46B, and 47, 28921-28922 [2021-11289]
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Federal Register / Vol. 86, No. 102 / Friday, May 28, 2021 / 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–ISE–2021–11. 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–ISE–2021–11 and should be
submitted on or before June 18, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–11290 Filed 5–27–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings
Notice is hereby given,
pursuant to the provisions of the
Government in the Sunshine Act, Public
Law 94–409, that the Securities and
Exchange Commission Investor
Advisory Committee will hold a public
meeting on Thursday, June 10, 2021.
TIME AND DATE:
17 17
CFR 200.30–3(a)(12).
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17:28 May 27, 2021
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The meeting will begin at 10:00 a.m.
(ET) and will be open to the public.
PLACE: The meeting will be conducted
by remote means and/or at the
Commission’s headquarters, 100 F St
NE, Washington, DC 20549. Members of
the public may watch the webcast of the
meeting on the Commission’s website at
www.sec.gov.
STATUS: This Sunshine Act notice is
being issued because a majority of the
Commission may attend the meeting.
On May 26, 2021, the Commission
published notice of the Committee
meeting (Release Nos. 33–10944, 34–
92018), indicating that the meeting is
open to the public and inviting the
public to submit written comments to
the Committee.
MATTER TO BE CONSIDERED: The agenda
for the meeting includes: Welcome
remarks; approval of previous meeting
minutes; a panel discussion regarding
best execution and its role in post-NMS
market structure; a panel discussion
regarding best execution issues unique
to wholesale brokers; a panel discussion
regarding 10b5–1 plans; a discussion of
a recommendation regarding individual
retirement accounts; subcommittee
reports; and a non-public administrative
session.
CONTACT PERSON FOR MORE INFORMATION:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Dated: May 26, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021–11502 Filed 5–26–21; 4:15 pm]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91975; File No. SR–NYSE–
2020–95]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change,
as Modified by Amendment No. 1, To
Make Permanent Commentaries to
Rule 7.35A and Commentaries to Rule
7.35B and Make Related Changes to
Rules 7.32, 7.35C, 46B, and 47
May 24, 2021.
On November 13, 2020, New York
Stock Exchange LLC (‘‘NYSE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
PO 00000
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Fmt 4703
Sfmt 4703
28921
(‘‘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
make permanent Commentaries .01(a)
and (b) and .06 to Rule 7.35A (DMMFacilitated Core Open and Trading Halt
Auctions) and Commentaries .01 and
.03 to Rule 7.35B (DMM-Facilitated
Closing Auctions) and to make related
changes to Rules 7.32 (Order Entry),
7.35C (Exchange-Facilitated Closing
Auctions), 46B (Regulatory Trading
Official), and 47 (Floor Officials—
Unusual Situations). The proposed rule
change was published for comment in
the Federal Register on December 1,
2020.3 On January 13, 2020, the
Commission extended to March 1, 2021,
the time period in which to approve the
proposal, disapprove the proposal, or
institute proceedings to determine
whether to approve or disapprove the
proposal.4 On March 1, 2021, the
Commission instituted proceedings
under Section 19(b)(2)(B) of the Act 5 to
determine whether to approve or
disapprove the proposed rule change.6
On April 12, 2021, the Exchange filed
Amendment No. 1 7 to the proposed rule
change with the Commission and
submitted Amendment No. 1 for
inclusion in the public comment file.8
The Commission has received no other
comment letters on the proposed rule
change, as modified by Amendment No.
1.
Section 19(b)(2) of the Act 9 provides
that, after initiating proceedings, the
Commission shall issue an order
approving or disapproving the proposed
rule change not later than 180 days after
the date of publication of notice of filing
of the proposed rule change. The
Commission may extend the period for
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 90495
(Nov. 24, 2020), 85 FR 77304 (Dec. 1, 2020) (SR–
NYSE–2020–95) (‘‘Notice’’).
4 See Securities Exchange Act Release No. 90917
(Jan. 13, 2021), 86 FR 6403 (Jan. 21, 2020).
5 15 U.S.C. 78s(b)(2)(B).
6 See Securities Exchange Act Release No. 91227,
(Mar. 1, 2021), 86 FR 12991 (Mar. 5, 2021).
7 In Amendment No. 1, the Exchange proposes
that the percentage parameter that would be
applicable to when a DMM may electronically
facilitate a Trading Halt Auction or would be
required to publish a pre-opening indication would
be 5% instead of 10%. See Letter from Martha
Redding Associate General Counsel, NYSE LLC, to
Secretary, Commission (April 12, 2021).
Amendment No. 1 is available at https://
www.sec.gov/comments/sr-nyse-2020-95/
srnyse202095-8662901-235314.pdf.
8 Comments received on the proposed rule
changes, as modified by Amendment No. 1, are
available on the Commission’s website at https://
www.sec.gov/comments/sr-nyse-2020-95/
srnyse202095.htm.
9 15 U.S.C. 78s(b)(2).
2 17
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Federal Register / Vol. 86, No. 102 / Friday, May 28, 2021 / Notices
issuing an order approving or
disapproving the proposed rule change,
however, by not more than 60 days if
the Commission determines that a
longer period is appropriate and
publishes the reasons for such
determination. The proposed rule
change was published for notice and
comment in the Federal Register on
December 1, 2020.10 May 30, 2021 is
180 days from that date, and July 29,
2021, is 240 days from that date.
The Commission finds it appropriate
to designate a longer period within
which to issue an order approving or
disapproving the proposed rule change,
as modified by Amendment No. 1, so
that it has sufficient time to consider the
proposed rule change, as modified by
Amendment No.1. Accordingly, the
Commission, pursuant to Section
19(b)(2) of the Act,11 designates July 29,
2021, as the date by which the
Commission shall either approve or
disapprove the proposed rule change
(File No. SR–NYSE–2020–95) as
modified by Amendment No. 1.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–11289 Filed 5–27–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
34274; 812–15154]
Simplify Exchange Traded Funds and
Simplify Asset Management Inc.
May 24, 2021.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:
Notice of an application under section
6(c) of the Investment Company Act of
1940 (‘‘Act’’) for an exemption from
section 15(a) of the Act and rule 18f–2
under the Act, as well as from certain
disclosure requirements in rule 20a–1
under the Act, Item 19(a)(3) of Form N–
1A, Items 22(c)(1)(ii), 22(c)(1)(iii),
22(c)(8) and 22(c)(9) of Schedule 14A
under the Securities Exchange Act of
1934, and Sections 6–07(2)(a), (b), and
(c) of Regulation S–X (‘‘Disclosure
Requirements’’). The requested
exemption would permit an investment
10 See Securities Exchange Act Release No. 90495
(Nov. 24, 2020), 85 FR 77304 (Dec. 1, 2020) (SR–
NYSE–2020–95) (‘‘Notice’’).
11 15 U.S.C. 78s(b)(2).
12 17 CFR 200.30–3(a)(57).
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17:28 May 27, 2021
Jkt 253001
adviser to hire and replace certain subadvisers without shareholder approval
and grant relief from the Disclosure
Requirements as they relate to fees paid
to the sub-advisers.
APPLICANTS: Simplify Exchange Traded
Funds (the ‘‘Trust’’), a Delaware
statutory trust registered under the Act
as an open-end management investment
company with multiple series, and
Simplify Asset Management Inc., a New
York corporation registered as an
investment adviser under the
Investment Advisers Act of 1940
(‘‘Simplify’’ or the ‘‘Advisor,’’ and,
collectively with the Trust, the
‘‘Applicants’’).
FILING DATES: The application was filed
on August 18, 2020, and amended on
February 24, 2021.
HEARING OR NOTIFICATION OF HEARING:
An order granting the requested relief
will be issued unless the Commission
orders a hearing. Interested persons may
request a hearing by emailing the
Commission’s Secretary at SecretarysOffice@sec.gov and serving applicants
with a copy of the request by email.
Hearing requests should be received by
the Commission by 5:30 p.m. on June
18, 2021, and should be accompanied
by proof of service on the applicants, in
the form of an affidavit, or, for lawyers,
a certificate of service. Pursuant to rule
0–5 under the Act, hearing requests
should state the nature of the writer’s
interest, any facts bearing upon the
desirability of a hearing on the matter,
the reason for the request, and the issues
contested. Persons who wish to be
notified of a hearing may request
notification by emailing the
Commission’s Secretary at SecretarysOffice@sec.gov.
ADDRESSES: The Commission:
Secretarys-Office@sec.gov. Applicants:
c/o JoAnn M. Strasser, Thompson Hine
LLP, by email: JoAnn.Strasser@
thompsonhine.com.
FOR FURTHER INFORMATION CONTACT:
Christine Y. Greenlees, Senior Counsel,
at (202) 551–6879, or Lisa Reid Ragen,
Branch Chief, at (202) 551–6825
(Division of Investment Management,
Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
website by searching for the file
number, or an applicant using the
Company name box, at https://
www.sec.gov/search/search.htm or by
calling (202) 551–8090.
Summary of the Application
1. The Advisor serves as the
investment adviser to the Funds (as
PO 00000
Frm 00176
Fmt 4703
Sfmt 4703
defined below) pursuant to investment
advisory agreements with the Funds
(the ‘‘Advisory Agreements’’).1 The
Advisor will provide the Funds with
continuous and comprehensive
investment management services subject
to the supervision of, and policies
established by, each Fund’s board of
trustees (‘‘Board’’). The Advisory
Agreements permit the Advisor, subject
to the approval of the Board, to delegate
to one or more sub-advisers (each, a
‘‘Subadvisor’’ and collectively, the
‘‘Subadvisors’’) the responsibility to
provide the day-to-day portfolio
investment management of each Fund
(either directly or through such Fund’s
direct wholly-owned subsidiary),
subject to the supervision and direction
of the Advisor. The primary
responsibility for managing the Funds
will remain vested in the Advisor. The
Advisor will hire, evaluate, allocate
assets to and oversee the Subadvisors,
including determining whether a
Subadvisor should be terminated, at all
times subject to the authority of the
Board.
2. Each Fund may pursue its
investment strategies by investing
through a direct wholly-owned
subsidiary (each such subsidiary, a
‘‘Subsidiary’’). Any future Subsidiary
will enter into an investment advisory
agreement with the respective Advisor
(the ‘‘Subsidiary Advisory
Agreements’’).2 In all cases, an Advisor
will be the entity providing general
management services to each Fund,
including overall supervisory
responsibility for the general
management and investment of the
Fund’s assets (either directly or through
such Fund’s Subsidiary, if any), and,
subject to review and approval of the
Board, will: (a) Set such Fund’s
(including, if any, its Subsidiary’s)
overall investment strategies; (b)
evaluate, select and recommend
Subadvisors to manage all or a portion
of the Fund’s assets (directly or through
the Fund’s Subsidiary, if any); (c)
1 Applicants request relief with respect to any
existing or future series of the Trust and any other
registered open-end management investment
company or series thereof that: (a) Is advised by
Simplify or any entity controlling, controlled by or
under common control with Simplify or its
successors (each, also an ‘‘Advisor’’); (b) uses the
manager of managers structure described in the
application; and (c) complies with the terms and
conditions of the application (any such series, a
‘‘Fund’’). For purposes of the requested order,
‘‘successor’’ is limited to any entity that results
from a reorganization into another jurisdiction or a
change in the type of business organization.
2 Any future Subsidiary Advisory Agreement will
be approved by the Board, including a majority of
the trustees who are not ‘‘interested persons’’ (as
defined in section 2(a)(19) of the Act) of the Fund
or the Advisor, and the Fund’s shareholders.
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]]>Agencies
[Federal Register Volume 86, Number 102 (Friday, May 28, 2021)]
[Notices]
[Pages 28921-28922]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11289]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-91975; File No. SR-NYSE-2020-95]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of a Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change, as Modified by Amendment No. 1, To Make Permanent
Commentaries to Rule 7.35A and Commentaries to Rule 7.35B and Make
Related Changes to Rules 7.32, 7.35C, 46B, and 47
May 24, 2021.
On November 13, 2020, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') 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 make permanent Commentaries .01(a) and (b) and
.06 to Rule 7.35A (DMM-Facilitated Core Open and Trading Halt Auctions)
and Commentaries .01 and .03 to Rule 7.35B (DMM-Facilitated Closing
Auctions) and to make related changes to Rules 7.32 (Order Entry),
7.35C (Exchange-Facilitated Closing Auctions), 46B (Regulatory Trading
Official), and 47 (Floor Officials--Unusual Situations). The proposed
rule change was published for comment in the Federal Register on
December 1, 2020.\3\ On January 13, 2020, the Commission extended to
March 1, 2021, the time period in which to approve the proposal,
disapprove the proposal, or institute proceedings to determine whether
to approve or disapprove the proposal.\4\ On March 1, 2021, the
Commission instituted proceedings under Section 19(b)(2)(B) of the Act
\5\ to determine whether to approve or disapprove the proposed rule
change.\6\ On April 12, 2021, the Exchange filed Amendment No. 1 \7\ to
the proposed rule change with the Commission and submitted Amendment
No. 1 for inclusion in the public comment file.\8\ The Commission has
received no other comment letters on the proposed rule change, as
modified by Amendment No. 1.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 90495 (Nov. 24,
2020), 85 FR 77304 (Dec. 1, 2020) (SR-NYSE-2020-95) (``Notice'').
\4\ See Securities Exchange Act Release No. 90917 (Jan. 13,
2021), 86 FR 6403 (Jan. 21, 2020).
\5\ 15 U.S.C. 78s(b)(2)(B).
\6\ See Securities Exchange Act Release No. 91227, (Mar. 1,
2021), 86 FR 12991 (Mar. 5, 2021).
\7\ In Amendment No. 1, the Exchange proposes that the
percentage parameter that would be applicable to when a DMM may
electronically facilitate a Trading Halt Auction or would be
required to publish a pre-opening indication would be 5% instead of
10%. See Letter from Martha Redding Associate General Counsel, NYSE
LLC, to Secretary, Commission (April 12, 2021). Amendment No. 1 is
available at https://www.sec.gov/comments/sr-nyse-2020-95/srnyse202095-8662901-235314.pdf.
\8\ Comments received on the proposed rule changes, as modified
by Amendment No. 1, are available on the Commission's website at
https://www.sec.gov/comments/sr-nyse-2020-95/srnyse202095.htm.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \9\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission may extend the period for
[[Page 28922]]
issuing an order approving or disapproving the proposed rule change,
however, by not more than 60 days if the Commission determines that a
longer period is appropriate and publishes the reasons for such
determination. The proposed rule change was published for notice and
comment in the Federal Register on December 1, 2020.\10\ May 30, 2021
is 180 days from that date, and July 29, 2021, is 240 days from that
date.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2).
\10\ See Securities Exchange Act Release No. 90495 (Nov. 24,
2020), 85 FR 77304 (Dec. 1, 2020) (SR-NYSE-2020-95) (``Notice'').
---------------------------------------------------------------------------
The Commission finds it appropriate to designate a longer period
within which to issue an order approving or disapproving the proposed
rule change, as modified by Amendment No. 1, so that it has sufficient
time to consider the proposed rule change, as modified by Amendment
No.1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\11\ designates July 29, 2021, as the date by which the Commission
shall either approve or disapprove the proposed rule change (File No.
SR-NYSE-2020-95) as modified by Amendment No. 1.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-11289 Filed 5-27-21; 8:45 am]
BILLING CODE 8011-01-P
