Asset Management Advisory Committee; Meeting, 33392-33393 [2021-13206]

Download as PDF 33392 Federal Register / Vol. 86, No. 119 / Thursday, June 24, 2021 / Notices purposes of the Act because the proposed rule change will apply to all Members and non-Members who have never made an ad-hoc request to purchase Intraday Open-Close historical data. Moreover, purchase of Intraday Open-Close historical files is discretionary and not compulsory. The Exchange also does not believe that the proposed rule change will impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act because the proposed change applies only to the Exchange. Furthermore, another exchange currently offers similar historical data to academic users at a discounted price as well as a similar free-trial period for similar data.12 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 13 of the Act and subparagraph (f)(2) of Rule 19b–4 14 thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. 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. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 15 of the Act to determine whether the proposed rule change should be approved or disapproved. khammond on DSKJM1Z7X2PROD with NOTICES 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 rule-comments@ sec.gov. Please include File Number SR– CboeBZX–2021–043 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–CboeBZX–2021–043. 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–CboeBZX–2021–043 and should be submitted on or before July 15, 2021. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–13282 Filed 6–23–21; 8:45 am] 12 Id. BILLING CODE 8011–01–P 13 15 U.S.C. 78s(b)(3)(A). 14 17 CFR 240.19b–4(f)(2). 15 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 19:19 Jun 23, 2021 16 17 Jkt 253001 PO 00000 CFR 200.30–3(a)(12). Frm 00187 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92179; File No. 265–33] Asset Management Advisory Committee; Meeting Securities and Exchange Commission. ACTION: Notice of meeting. AGENCY: Notice is being provided that the Securities and Exchange Commission Asset Management Advisory Committee (‘‘AMAC’’) will hold a public meeting on July 7, 2021, by remote means. The meeting will begin at 11:00 a.m. (ET) and will be open to the public via webcast on the Commission’s website at www.sec.gov. Persons needing special accommodations to take part because of a disability should notify the contact person listed below. The public is invited to submit written statements to the Committee. The meeting will include a discussion of matters in the asset management industry relating to: (1) The ESG, Diversity & Inclusion, and Private Investments Subcommittees, including potential recommendations from those Subcommittees; and (2) the Evolution of Advice Subcommittee, including a panel discussion. DATES: The public meeting will be held on July 7, 2021. Written statements should be received on or before July 6, 2021. ADDRESSES: The meeting will be held by remote means and webcast on www.sec.gov. Written statements may be submitted by any of the following methods. To help us process and review your statement more efficiently, please use only one method. At this time, electronic statements are preferred. SUMMARY: Electronic Statements • 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 Paper Statements • 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/265-33/26533.htm). E:\FR\FM\24JNN1.SGM 24JNN1 Federal Register / Vol. 86, No. 119 / Thursday, June 24, 2021 / Notices 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 10:00 a.m. and 3:00 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. FOR FURTHER INFORMATION CONTACT: Christian Broadbent, Senior Special Counsel, or Jay Williamson, Branch Chief, at (202) 551–6720, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–3628. SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C.–App. 1, and the regulations thereunder, Sarah ten Siethoff, Designated Federal Officer of the Committee, has ordered publication of this notice.1 Dated: June 15, 2021. Vanessa A. Countryman, Committee Management Officer. [FR Doc. 2021–13206 Filed 6–23–21; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–92201; File No. SR– CboeBZX–2021–045] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule khammond on DSKJM1Z7X2PROD with NOTICES June 17, 2021. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on June 9, 2021, Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and 1 This notice was issued on June 15, 2021. Due to unexpected publication schedule changes, earlier advance publication was not possible. 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 19:19 Jun 23, 2021 Jkt 253001 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX’’ or ‘‘BZX Equities’’) is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to amend its fee schedule. 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/bzx/), 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 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 SECURITIES AND EXCHANGE COMMISSION VerDate Sep<11>2014 III 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. 1. Purpose The Exchange proposes to amend its fee schedule to define the term ‘‘StepUp ADV’’ and introduce a new Single Market Participant Identifier (‘‘MPID’’) Investor Tier.4 The Exchange first notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive or incentives to be insufficient. More specifically, the Exchange is only one of 16 registered equities exchanges, as well as a number of alternative trading systems and other off-exchange venues that do not have similar self-regulatory 4 The Exchange initially filed the proposed fee changes June 1, 2021 (SRCboeBZX–2021–044). On June 9, 2021, the Exchange withdrew that filing and submitted this proposal. PO 00000 Frm 00188 Fmt 4703 Sfmt 4703 33393 responsibilities under the Exchange Act, to which market participants may direct their order flow. Based on publicly available information,5 no single registered equities exchange has more than 15% of the market share. Thus, in such a low-concentrated and highly competitive market, no single equities exchange possesses significant pricing power in the execution of order flow. The Exchange in particular operates a ‘‘Maker-Taker’’ model whereby it pays credits to Members that add liquidity and assesses fees to those that remove liquidity. The Exchange’s fee schedule sets forth the standard rebates and rates applied per share for orders that provide and remove liquidity, respectively. Particularly, for securities at or above $1.00, the Exchange provides a standard rebate of $0.0018 per share for orders that add liquidity and assesses a fee of $0.0030 per share for orders that remove liquidity. Additionally, in response to the competitive environment, the Exchange also offers tiered pricing which provides Members opportunities to qualify for higher rebates or reduced fees where certain volume criteria and thresholds are met. Tiered pricing provides an incremental incentive for Members to strive for higher tier levels, which provides increasingly higher benefits or discounts for satisfying increasingly more stringent criteria. The ‘‘definitions’’ section of the Exchange’s fee schedule defines various terms used throughout the fee schedule. The Exchange proposes to adopt a new definition for the term ‘‘Step-Up ADV’’. Specifically, as proposed ‘‘Step-up ADV’’ means ADV 6 in the relevant baseline month subtracted from current day ADV. Such definition would be referenced in Tiers designed to incentivize Members to grow their ADV from the baseline month, such as the proposed Single MPID Investor Tier, as discussed below. Pursuant to footnote 4 of the fee schedule, the Exchange currently offers the Single MPID Investor Tiers that provide Members an opportunity to receive an enhanced rebate from the standard rebate for liquidity adding orders that yield fee codes B,7 V,8 and 5 See Cboe Global Markets, U.S. Equities Market Volume Summary, Month-to-Date (May 26, 2021), available at https://markets.cboe.com/us/equities/ market_statistics/. 6 ADV means average daily volume calculated as the number of shares added or removed, combined, per day. ADV is calculated on a monthly basis. 7 Fee code B is appended to displayed orders adding liquidity to BZX (Tape B). 8 Fee code V is appended to displayed orders adding liquidity to BZX (Tape A). E:\FR\FM\24JNN1.SGM 24JNN1

Agencies

[Federal Register Volume 86, Number 119 (Thursday, June 24, 2021)]
[Notices]
[Pages 33392-33393]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-13206]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92179; File No. 265-33]


Asset Management Advisory Committee; Meeting

AGENCY: Securities and Exchange Commission.

ACTION: Notice of meeting.

-----------------------------------------------------------------------

SUMMARY: Notice is being provided that the Securities and Exchange 
Commission Asset Management Advisory Committee (``AMAC'') will hold a 
public meeting on July 7, 2021, by remote means. The meeting will begin 
at 11:00 a.m. (ET) and will be open to the public via webcast on the 
Commission's website at www.sec.gov. Persons needing special 
accommodations to take part because of a disability should notify the 
contact person listed below. The public is invited to submit written 
statements to the Committee. The meeting will include a discussion of 
matters in the asset management industry relating to: (1) The ESG, 
Diversity & Inclusion, and Private Investments Subcommittees, including 
potential recommendations from those Subcommittees; and (2) the 
Evolution of Advice Subcommittee, including a panel discussion.

DATES: The public meeting will be held on July 7, 2021. Written 
statements should be received on or before July 6, 2021.

ADDRESSES: The meeting will be held by remote means and webcast on 
www.sec.gov. Written statements may be submitted by any of the 
following methods. To help us process and review your statement more 
efficiently, please use only one method. At this time, electronic 
statements are preferred.

Electronic Statements

     Use the Commission's internet submission form (https://www.sec.gov/rules/other.shtml); or
     Send an email message to [email protected]. Please 
include File Number 265-33 on the subject line; or

Paper Statements

     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/265-33/265-33.htm).

[[Page 33393]]

    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 
10:00 a.m. and 3:00 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.

FOR FURTHER INFORMATION CONTACT: Christian Broadbent, Senior Special 
Counsel, or Jay Williamson, Branch Chief, at (202) 551-6720, Division 
of Investment Management, Securities and Exchange Commission, 100 F 
Street NE, Washington, DC 20549-3628.

SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the 
Federal Advisory Committee Act, 5 U.S.C.-App. 1, and the regulations 
thereunder, Sarah ten Siethoff, Designated Federal Officer of the 
Committee, has ordered publication of this notice.\1\
---------------------------------------------------------------------------

    \1\ This notice was issued on June 15, 2021. Due to unexpected 
publication schedule changes, earlier advance publication was not 
possible.

    Dated: June 15, 2021.
Vanessa A. Countryman,
Committee Management Officer.
[FR Doc. 2021-13206 Filed 6-23-21; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.