Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE American LLC; NYSE Arca, Inc.; NYSE National, Inc.; NYSE Chicago, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend Each of the Exchange's Fee Schedules Related to Co-Location, 53995-53996 [2021-21109]

Download as PDF Federal Register / Vol. 86, No. 186 / Wednesday, September 29, 2021 / Notices which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 16 and Rule 19b– 4(f)(6) thereunder.17 A proposed rule change filed pursuant to Rule 19b–4(f)(6) under the Act normally does not become operative for 30 days after the date of its filing. However, Rule 19b–4(f)(6)(iii) 18 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange notes that the Funds are currently listed and traded on the Exchange, and that pursuant to the proposed rule change, the Funds will comply with the provision discussed above as set forth in the Updated Application and the Updated Exemptive Order. Accordingly, this proposed rule change raises no novel regulatory issues. For these reasons, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposed rule change operative upon filing.19 At any time within 60 days of the filing of the 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: 16 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 18 17 CFR 240.19b–4(f)(6)(iii). 19 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). lotter on DSK11XQN23PROD with NOTICES1 17 17 VerDate Sep<11>2014 18:22 Sep 28, 2021 Jkt 253001 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–2021–81 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–2021–81. 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–2021–81 and should be submitted on or before October 20, 2021. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–21110 Filed 9–28–21; 8:45 am] BILLING CODE 8011–01–P 20 17 PO 00000 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93107; File Nos. SR–NYSE– 2021–15, SR–NYSEAMER–2021–13, SR– NYSEArca–2021–15, SR–NYSENAT–2021– 05, SR–NYSECHX–2021–04] Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE American LLC; NYSE Arca, Inc.; NYSE National, Inc.; NYSE Chicago, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend Each of the Exchange’s Fee Schedules Related to Co-Location September 23, 2021. On March 10, 2021, New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE National, Inc., and NYSE Chicago, Inc. each 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 provide Users with access to the systems and connectivity to the data feeds of several third parties and establish associated fees.3 Each proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.4 The proposed rule changes were published for comment in the Federal Register on March 29, 2021.5 On May 7, 2021, the Commission, pursuant to Section 19(b)(3)(C) of the Act 6 temporarily suspended File Nos. SR–NYSE–2021– 15, SR–NYSEAMER–2021–13, SR– NYSEArca–2021–15, SR–NYSENAT– 2021–05, and SR–NYSECHX–2021–04; and (2) instituted proceedings to determine whether to approve or disapprove File Nos. SR–NYSE–2021– 15, SR–NYSEAMER–2021–13, SR– NYSEArca–2021–15, SR–NYSENAT– 2021–05, and SR–NYSECHX–2021–04.7 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 The New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE National, Inc, and NYSE Chicago, Inc. are collectively referred to herein as ‘‘NYSE’’ or the ‘‘Exchanges.’’ 4 15 U.S.C. 78s(b)(3)(A). 5 See Securities Exchange Act Release Nos. 91386 (March 23, 2021), 86 FR 16410 (March 29, 2021); 91387 (March 23, 2021), 86 FR 16417 (March 29, 2021); 91388 (March 23, 2021), 86 FR 16433 (March 29, 2021); 91389 (March 23, 2021), 86 FR 16403 (March 29, 2021); 91390 (March 23, 2021), 86 FR 16424 (March 29, 2021) (collectively, the ‘‘Notices’’). 6 15 U.S.C. 78s(b)(3)(C). 7 See Securities Exchange Act Release No. 91790 (May 7, 2021), 86 FR 26242 (May 13, 2021) (SR– 2 17 CFR 200.30–3(a)(12). Frm 00054 Fmt 4703 Sfmt 4703 53995 Continued E:\FR\FM\29SEN1.SGM 29SEN1 53996 Federal Register / Vol. 86, No. 186 / Wednesday, September 29, 2021 / Notices The Commission received two comment letters on the proposal from the Exchanges.8 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 the filing of the proposed rule change. The Commission may extend the period for 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 changes were published for comment in the Federal Register on March 29, 2021.10 The 180th day after publication of the Notices is September 25, 2021. The Commission is extending the time period for approving or disapproving the proposal for an additional 60 days. The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule changes along with the comments received. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,11 designates November 24, 2021 as the date by which the Commission should either approve or disapprove the proposed rule changes (File Nos. SR– NYSE–2021–15, SR–NYSEAMER–2021– 13, SR–NYSEArca–2021–15, SR– NYSENAT–2021–05, NYSECHX–2021– 04). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–21109 Filed 9–28–21; 8:45 am] lotter on DSK11XQN23PROD with NOTICES1 BILLING CODE 8011–01–P NYSE–2021–15, NYSEAMER–2021–13, SR– NYSEArca–2021–15, SR–NYSENAT–2021–05, SR– NYSECHX–2021–04). 8 See, respectively, letter dated June 21, 2021 from Elizabeth K. King, Chief Regulatory Officer, ICE, General Counsel and Corporate Secretary, NYSE to Vanessa Countryman, Secretary, Commission; and letter dated September 7, 2021 from Elizabeth K. King, Chief Regulatory Office, ICE, General Counsel and Corporate Secretary, NYSE to Vanessa Countryman, Secretary, Commission. All comments received by the Commission on the proposed rule change are available on the Commission’s website at: https:// www.sec.gov/comments/sr-nyse-2021-15/ srnyse202115.htm. NYSE filed comment letters on behalf of all of the Exchanges. 9 15 U.S.C. 78s(b)(2). 10 See supra note 5. 11 15 U.S.C. 78s(b)(2). 12 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:22 Sep 28, 2021 Jkt 253001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93114; File No. 4–575] Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d– 2; Notice of Filing and Order Approving and Declaring Effective an Amended Plan for the Allocation of Regulatory Responsibilities Among the Financial Industry Regulatory Authority, Inc., The Nasdaq Stock Market LLC, and Nasdaq BX, Inc. September 23, 2021. Notice is hereby given that the Securities and Exchange Commission (‘‘Commission’’) has issued an Order, pursuant to Section 17(d) of the Securities Exchange Act of 1934 (‘‘Act’’),1 approving and declaring effective an amendment to the plan for allocating regulatory responsibility (‘‘Plan’’) filed on September 2, 2021, pursuant to Rule 17d–2 of the Act,2 by the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’), The Nasdaq Stock Market LLC (‘‘Nasdaq’’), and Nasdaq BX, Inc. (‘‘BX’’) (collectively, ‘‘Participating Organizations’’ or ‘‘parties’’). This agreement amends and restates the agreement entered into between FINRA and BX on December 5, 2008, entitled ‘‘Agreement between Financial Industry Regulatory Authority, Inc. and Boston Stock Exchange, Incorporated pursuant to Rule 17d–2 under the Securities Exchange Act of 1934,’’ and any subsequent amendments thereafter, and the agreement entered into between FINRA and Nasdaq approved by the Commission on July 12, 2006, entitled ‘‘Agreement between the National Association of Securities Dealers, Inc. and The Nasdaq Stock Market LLC Pursuant to Section 17(d) and Rule 17d– 2,’’ and any subsequent amendments thereafter. I. Introduction Section 19(g)(1) of the Act,3 among other things, requires every selfregulatory organization (‘‘SRO’’) registered as either a national securities exchange or national securities association to examine for, and enforce compliance by, its members and persons associated with its members with the Act, the rules and regulations thereunder, and the SRO’s own rules, unless the SRO is relieved of this responsibility pursuant to Section 1 15 U.S.C. 78q(d). CFR 240.17d–2. 3 15 U.S.C. 78s(g)(1). 2 17 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 17(d) 4 or Section 19(g)(2) 5 of the Act. Without this relief, the statutory obligation of each individual SRO could result in a pattern of multiple examinations of broker-dealers that maintain memberships in more than one SRO (‘‘common members’’). Such regulatory duplication would add unnecessary expenses for common members and their SROs. Section 17(d)(1) of the Act 6 was intended, in part, to eliminate unnecessary multiple examinations and regulatory duplication.7 With respect to a common member, Section 17(d)(1) authorizes the Commission, by rule or order, to relieve an SRO of the responsibility to receive regulatory reports, to examine for and enforce compliance with applicable statutes, rules, and regulations, or to perform other specified regulatory functions. To implement Section 17(d)(1), the Commission adopted two rules: Rule 17d–1 and Rule 17d–2 under the Act.8 Rule 17d–1 authorizes the Commission to name a single SRO as the designated examining authority (‘‘DEA’’) to examine common members for compliance with the financial responsibility requirements imposed by the Act, or by Commission or SRO rules.9 When an SRO has been named as a common member’s DEA, all other SROs to which the common member belongs are relieved of the responsibility to examine the firm for compliance with the applicable financial responsibility rules. On its face, Rule 17d–1 deals only with an SRO’s obligations to enforce member compliance with financial responsibility requirements. Rule 17d–1 does not relieve an SRO from its obligation to examine a common member for compliance with its own rules and provisions of the federal securities laws governing matters other than financial responsibility, including sales practices and trading activities and practices. To address regulatory duplication in these and other areas, the Commission adopted Rule 17d–2 under the Act.10 Rule 17d–2 permits SROs to propose joint plans for the allocation of regulatory responsibilities with respect 4 15 U.S.C. 78q(d). U.S.C. 78s(g)(2). 6 15 U.S.C. 78q(d)(1). 7 See Securities Act Amendments of 1975, Report of the Senate Committee on Banking, Housing, and Urban Affairs to Accompany S. 249, S. Rep. No. 94– 75, 94th Cong., 1st Session 32 (1975). 8 17 CFR 240.17d–1 and 17 CFR 240.17d–2, respectively. 9 See Securities Exchange Act Release No. 12352 (April 20, 1976), 41 FR 18808 (May 7, 1976). 10 See Securities Exchange Act Release No. 12935 (October 28, 1976), 41 FR 49091 (November 8, 1976). 5 15 E:\FR\FM\29SEN1.SGM 29SEN1

Agencies

[Federal Register Volume 86, Number 186 (Wednesday, September 29, 2021)]
[Notices]
[Pages 53995-53996]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21109]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93107; File Nos. SR-NYSE-2021-15, SR-NYSEAMER-2021-13, 
SR-NYSEArca-2021-15, SR-NYSENAT-2021-05, SR-NYSECHX-2021-04]


Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE 
American LLC; NYSE Arca, Inc.; NYSE National, Inc.; NYSE Chicago, Inc.; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Amend Each of the Exchange's Fee Schedules Related to 
Co-Location

September 23, 2021.
    On March 10, 2021, New York Stock Exchange LLC, NYSE American LLC, 
NYSE Arca, Inc., NYSE National, Inc., and NYSE Chicago, Inc. each 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 provide 
Users with access to the systems and connectivity to the data feeds of 
several third parties and establish associated fees.\3\ Each proposed 
rule change was immediately effective upon filing with the Commission 
pursuant to Section 19(b)(3)(A) of the Act.\4\ The proposed rule 
changes were published for comment in the Federal Register on March 29, 
2021.\5\ On May 7, 2021, the Commission, pursuant to Section 
19(b)(3)(C) of the Act \6\ temporarily suspended File Nos. SR-NYSE-
2021-15, SR-NYSEAMER-2021-13, SR-NYSEArca-2021-15, SR-NYSENAT-2021-05, 
and SR-NYSECHX-2021-04; and (2) instituted proceedings to determine 
whether to approve or disapprove File Nos. SR-NYSE-2021-15, SR-
NYSEAMER-2021-13, SR-NYSEArca-2021-15, SR-NYSENAT-2021-05, and SR-
NYSECHX-2021-04.\7\

[[Page 53996]]

The Commission received two comment letters on the proposal from the 
Exchanges.\8\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The New York Stock Exchange LLC, NYSE American LLC, NYSE 
Arca, Inc., NYSE National, Inc, and NYSE Chicago, Inc. are 
collectively referred to herein as ``NYSE'' or the ``Exchanges.''
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ See Securities Exchange Act Release Nos. 91386 (March 23, 
2021), 86 FR 16410 (March 29, 2021); 91387 (March 23, 2021), 86 FR 
16417 (March 29, 2021); 91388 (March 23, 2021), 86 FR 16433 (March 
29, 2021); 91389 (March 23, 2021), 86 FR 16403 (March 29, 2021); 
91390 (March 23, 2021), 86 FR 16424 (March 29, 2021) (collectively, 
the ``Notices'').
    \6\ 15 U.S.C. 78s(b)(3)(C).
    \7\ See Securities Exchange Act Release No. 91790 (May 7, 2021), 
86 FR 26242 (May 13, 2021) (SR-NYSE-2021-15, NYSEAMER-2021-13, SR-
NYSEArca-2021-15, SR-NYSENAT-2021-05, SR-NYSECHX-2021-04).
    \8\ See, respectively, letter dated June 21, 2021 from Elizabeth 
K. King, Chief Regulatory Officer, ICE, General Counsel and 
Corporate Secretary, NYSE to Vanessa Countryman, Secretary, 
Commission; and letter dated September 7, 2021 from Elizabeth K. 
King, Chief Regulatory Office, ICE, General Counsel and Corporate 
Secretary, NYSE to Vanessa Countryman, Secretary, Commission. All 
comments received by the Commission on the proposed rule change are 
available on the Commission's website at: https://www.sec.gov/comments/sr-nyse-2021-15/srnyse202115.htm. NYSE filed comment 
letters on behalf of all of the Exchanges.
---------------------------------------------------------------------------

    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 the filing of the proposed rule 
change. The Commission may extend the period for 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 changes were published for comment in the Federal 
Register on March 29, 2021.\10\ The 180th day after publication of the 
Notices is September 25, 2021. The Commission is extending the time 
period for approving or disapproving the proposal for an additional 60 
days.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 5.
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule changes along with the comments received. Accordingly, 
the Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
November 24, 2021 as the date by which the Commission should either 
approve or disapprove the proposed rule changes (File Nos. SR-NYSE-
2021-15, SR-NYSEAMER-2021-13, SR-NYSEArca-2021-15, SR-NYSENAT-2021-05, 
NYSECHX-2021-04).
---------------------------------------------------------------------------

    \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)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-21109 Filed 9-28-21; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.