Self-Regulatory Organizations; NYSE National, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE National Rule 7.2, 55033-55035 [2021-21740]
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lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 190 / Tuesday, October 5, 2021 / Notices
If so, are there any improvements to the
annual confirmation as currently
described that would reduce the burden
for filers or filing agents?
7. Would the potential access changes
facilitate the responsible management of
EDGAR filer credentials? Are there
additional changes to the access process
that we should make to encourage such
responsible management? For example,
should administrators be required to
update their account permissions within
a reasonable period of time following
the separation of employment of a user
from the filer or a change in the user’s
filing responsibilities? Would the
potential access changes create any
undue burdens for filers or filing agents?
If so, how could the potential access
changes be modified to ease such
burdens? Are there any other concerns
that the Commission should be aware of
with the transition to the potential
access changes?
8. Are there any issues specific to
certain types of filers that should be
considered with regard to the potential
access changes? For example, assetbacked securities (ABS) issuers often
create one or more serial companies
each year, each of which is a separate
legal entity with its own CIK, even
though it generally has the same contact
information as the ABS issuer. If the
potential technical changes are
implemented, should new serial
companies have their user and filer
administrator information automatically
copied from the ABS issuer’s user and
filer administrator information? If so, in
order to ensure that the ABS issuer has
user and filer administrator information
that could be copied to the new serial
company, would there be any issues
associated with requiring ABS issuers to
have transitioned to Login.gov before the
ABS issuer can create new serial
companies? Separately, should we allow
the annual confirmations of users and
filer administrators for an ABS issuer to
also apply to the serial companies
associated with that ABS issuer, if the
same users and filer administrators were
associated with each serial company?
9. How long would it take existing
filers to adjust to the potential access
changes? Should we transition existing
active accounts to the potential access
changes on a gradual basis over a
several month period, possibly
beginning in spring 2022? If so, how?
For example, should the transition
period be tiered based on the volume of
filings made by a filer or a filing agent
on an annual basis? Should another
method be used? What is an appropriate
length of time for the transition period?
10. What other changes to the EDGAR
filer access and account management
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processes should the Commission
consider in the future?
IV. General Request for Public
Comment
We request and encourage any
interested person to submit comments
on any aspect of the potential technical
changes to the EDGAR filer access and
filer account management processes,
and suggestions for additional changes.
In particular, we request comment on
obtaining and using third-party service
provider account credentials to access
EDGAR, the filer administrator
managing the permissions of users
associated with the filer’s EDGAR
account, and the filer management tool.
Comments are of particular assistance if
accompanied by analysis of the issues
addressed in those comments and any
data that may support the analysis. We
urge commenters to be as specific as
possible.
By the Commission.
Dated: September 30, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021–21697 Filed 10–4–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–93179; File No. SR–
NYSEArca–2021–73]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a
Longer Period for Commission Action
on a Proposed Rule Change To List
and Trade Shares of the Franklin
Responsibly Sourced Gold ETF Under
NYSE Arca Rule 8.201–E
September 29, 2021.
On August 23, 2021, NYSE Arca, Inc.
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 list and trade shares of the
Franklin Responsibly Sourced Gold
ETF. The proposed rule change was
published for comment in the Federal
Register on September 8, 2021.3 The
Commission has received no comments
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 proposed rule
change, or within such longer period up
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 92840
(September 1, 2021), 86 FR 50385.
4 15 U.S.C. 78s(b)(2).
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes 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 this
proposed rule change is October 23,
2021. The Commission is extending this
45-day time period.
The Commission finds it 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, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates December 7, 2021 as the date
by which the Commission shall either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–NYSEArca–2021–73).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–21617 Filed 10–4–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–93181; File No. SR–
NYSENAT–2021–18]
Self-Regulatory Organizations; NYSE
National, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend NYSE National
Rule 7.2
September 30, 2021.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on
September 28, 2021, NYSE National,
Inc. (‘‘NYSE National’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission (the
‘‘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
1 15
2 17
PO 00000
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Fmt 4703
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55033
5 Id.
6 17
CFR 200.30–3(a)(31).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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Federal Register / Vol. 86, No. 190 / Tuesday, October 5, 2021 / Notices
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend
NYSE National Rule 7.2 (Holidays) to
make Juneteenth National Independence
Day a holiday of the Exchange.
Juneteenth National Independence Day
was designated a legal public holiday in
June 2021. The 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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
NYSE National Rule 7.2 (Holidays) to
make Juneteenth National Independence
Day a holiday of the Exchange.
On June 17, 2021, Juneteenth National
Independence Day was designated a
legal public holiday.3 Consistent with
broad industry sentiment 4 and the
approach recommended by the
Securities Industry and Financial
Markets Association (‘‘SIFMA’’),5 the
Exchange proposes to add ‘‘Juneteenth
National Independence Day’’ to the
existing list of holidays in the first
paragraph of NYSE National Rule 7.2.
As a result, the Exchange will not be
open for business on Juneteenth
3 Public
Law 117–17.
e.g. https://www.bloomberg.com/news/
articles/2021-06-18/bofa-makes-juneteenth-aholiday-joining-jpmorgan-wells-fargo?sref=
Hhue1scO.
5 SIFMA recommends a full market close in
observance of Juneteenth National Independence
Day. See https://www.sifma.org/resources/general/
holiday-schedule/. See also https://www.sifma.org/
resources/news/sifma-revises-2022-fixed-incomemarket-close-recommendations-in-the-u-s-toinclude-full-close-for-juneteenth-nationalindependence-day/.
lotter on DSK11XQN23PROD with NOTICES1
4 See,
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National Independence Day, which falls
on June 19 of each year. In accordance
with the second paragraph of NYSE
National Rule 7.2, when the holiday
falls on a Saturday, the Exchange will
not be open for business on the
preceding Friday, and when it falls on
a Sunday, the Exchange will not be
open for business on the succeeding
Monday.6
The first paragraph of the revised rule
would read as follows (proposed
additions italicized):
The Exchange will not be open for business
on New Year’s Day, Martin Luther King Jr.
Day, Presidents’ Day, Good Friday, Memorial
Day, Juneteenth National Independence Day,
Independence Day, Labor Day, Thanksgiving
Day and Christmas Day.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with Section 6(b)
of the Act,7 in general, and furthers the
objectives of Section 6(b)(5) of the Act,8
in particular, because it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with
respect to, and facilitating transactions
in securities, to remove impediments to,
and perfect the mechanisms of, a free
and open market and a national market
system and, in general, to protect
investors and the public interest and
because it is not designed to permit
unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange believes that the
proposed change would remove
impediments to and perfect the
mechanism of a free and open market
and a national market system and, in
general, protect investors and the public
interest because the proposed amended
rule would clearly state that the
Exchange will not be open for business
on Juneteenth National Independence
Day, which is a federal holiday, and
would address what day would be taken
off if June 19 fell on a Saturday or
Sunday. The change would thereby
promote clarity and transparency in the
Exchange rules by updating the list of
holidays of the Exchange.
The proposed change does not raise
any new or novel issues.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
6 NYSE National Rule 7.2. There is an exception
to the practice if unusual business conditions exist,
such as the ending of a monthly or yearly
accounting period. Id.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,9 the Exchange believes that the
proposed rule change will not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed change is not designed to
address any competitive issue but rather
to amend the Exchange rule regarding
holidays.
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
Because the foregoing 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 for 30 days from the date on
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 10 and Rule 19b–
4(f)(6)(iii) thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) 12 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),13 the
Commission may 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 prior to 30 days after
the date of the filing. The Exchange
states that waiver of the operative delay
would be consistent with the protection
of investors and the public interest
because the proposed rule change, as
described above, would state that the
Exchange will not be open for business
on Juneteenth National Independence
Day, which is a federal holiday, and
would address what day would be taken
9 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of 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.
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
10 15
11 17
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Federal Register / Vol. 86, No. 190 / Tuesday, October 5, 2021 / Notices
off if June 19 fell on a Saturday or
Sunday. The Exchange further states
that the proposed change does not raise
any new or novel 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 operative delay and
designates the proposed rule change
operative upon filing.14
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
to determine whether the proposed rule
change should be approved or
disapproved.
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 such
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–NYSENAT–2021–18, and
should be submitted on or before
October 26, 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.15
J. Matthew DeLesDernier,
Assistant Secretary.
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–
NYSENAT–2021–18 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
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–NYSENAT–2021–18. 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
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
14 For purposes only of waiving the 30-day
operative delay, the Commission also has
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. 2021–21740 Filed 10–4–21; 8:45 am]
BILLING CODE 8011–01–P
[SEC File No. 270–541, OMB Control No.
3235–0620]
Submission for OMB Review;
Comment Request
Extension:
Rule 22c–2
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) the Securities
and Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Rule 22c–2 (17 CFR 270.22c–2) under
the Investment Company Act of 1940
(15 U.S.C. 80a) (the ‘‘Investment
Company Act’’ or ‘‘Act’’) requires the
board of directors (including a majority
of independent directors) of most
registered open-end investment
15 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00120
Fmt 4703
Sfmt 4703
55035
companies (‘‘funds’’) to either approve a
redemption fee of up to two percent or
determine that imposition of a
redemption fee is not necessary or
appropriate for the fund. Rule 22c–2
also requires a fund to enter into written
agreements with their financial
intermediaries (such as broker-dealers
and retirement plan administrators)
under which the fund, upon request,
can obtain certain shareholder identity
and trading information from the
intermediaries. The written agreement
must also allow the fund to direct the
intermediary to prohibit further
purchases or exchanges by specific
shareholders that the fund has
identified as being engaged in
transactions that violate the fund’s
market timing policies. These
requirements enable funds to obtain the
information that they need to monitor
the frequency of short-term trading in
omnibus accounts and enforce their
market timing policies.
The rule includes three ‘‘collections
of information’’ within the meaning of
the Paperwork Reduction Act of 1995
(‘‘PRA’’).1 First, the rule requires boards
to either approve a redemption fee of up
to two percent or determine that
imposition of a redemption fee is not
necessary or appropriate for the fund.
Second, funds must enter into
information sharing agreements with all
of their ‘‘financial intermediaries’’ 2 and
maintain a copy of the written
information sharing agreement with
each intermediary in an easily
accessible place for six years. Third,
pursuant to the information sharing
agreements, funds must have systems
that enable them to request frequent
trading information upon demand from
their intermediaries, and to enforce any
restrictions on trading required by funds
under the rule.
The collections of information created
by rule 22c–2 are necessary for funds to
effectively assess redemption fees,
enforce their policies in frequent
trading, and monitor short-term trading,
1 44
U.S.C. 3501–3520.
rule defines a Financial Intermediary as: (i)
Any broker, dealer, bank, or other person that holds
securities issued by the fund in nominee name; (ii)
a unit investment trust or fund that invests in the
fund in reliance on section 12(d)(i)(E) of the Act;
and (iii) in the case of a participant directed
employee benefit plan that owns the securities
issued by the fund, a retirement plan’s
administrator under section 316(A) of the Employee
Retirement Security Act of 1974 (29 U.S.C.
1002(16)(A) or any person that maintains the plans’
participant records. Financial Intermediary does not
include any person that the fund treats as an
individual investor with respect to the fund’s
policies established for the purpose of eliminating
or reducing any dilution of the value of the
outstanding securities issued by the fund. Rule 22c–
2(c)(1).
2 The
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]]>Agencies
[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 55033-55035]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21740]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-93181; File No. SR-NYSENAT-2021-18]
Self-Regulatory Organizations; NYSE National, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
NYSE National Rule 7.2
September 30, 2021.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on September 28, 2021, NYSE National, Inc. (``NYSE National'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``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
[[Page 55034]]
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange proposes to amend NYSE National Rule 7.2 (Holidays) to
make Juneteenth National Independence Day a holiday of the Exchange.
Juneteenth National Independence Day was designated a legal public
holiday in June 2021. The 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend NYSE National Rule 7.2 (Holidays) to
make Juneteenth National Independence Day a holiday of the Exchange.
On June 17, 2021, Juneteenth National Independence Day was
designated a legal public holiday.\3\ Consistent with broad industry
sentiment \4\ and the approach recommended by the Securities Industry
and Financial Markets Association (``SIFMA''),\5\ the Exchange proposes
to add ``Juneteenth National Independence Day'' to the existing list of
holidays in the first paragraph of NYSE National Rule 7.2. As a result,
the Exchange will not be open for business on Juneteenth National
Independence Day, which falls on June 19 of each year. In accordance
with the second paragraph of NYSE National Rule 7.2, when the holiday
falls on a Saturday, the Exchange will not be open for business on the
preceding Friday, and when it falls on a Sunday, the Exchange will not
be open for business on the succeeding Monday.\6\
---------------------------------------------------------------------------
\3\ Public Law 117-17.
\4\ See, e.g. https://www.bloomberg.com/news/articles/2021-06-18/bofa-makes-juneteenth-a-holiday-joining-jpmorgan-wells-fargo?sref=Hhue1scO.
\5\ SIFMA recommends a full market close in observance of
Juneteenth National Independence Day. See https://www.sifma.org/resources/general/holiday-schedule/. See also https://www.sifma.org/resources/news/sifma-revises-2022-fixed-income-market-close-recommendations-in-the-u-s-to-include-full-close-for-juneteenth-national-independence-day/.
\6\ NYSE National Rule 7.2. There is an exception to the
practice if unusual business conditions exist, such as the ending of
a monthly or yearly accounting period. Id.
---------------------------------------------------------------------------
The first paragraph of the revised rule would read as follows
(proposed additions italicized):
The Exchange will not be open for business on New Year's Day,
Martin Luther King Jr. Day, Presidents' Day, Good Friday, Memorial
Day, Juneteenth National Independence Day, Independence Day, Labor
Day, Thanksgiving Day and Christmas Day.
2. Statutory Basis
The Exchange believes that the proposal is consistent with Section
6(b) of the Act,\7\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\8\ in particular, because it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in regulating, clearing, settling, processing
information with respect to, and facilitating transactions in
securities, to remove impediments to, and perfect the mechanisms of, a
free and open market and a national market system and, in general, to
protect investors and the public interest and because it is not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that the proposed change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system and, in general, protect investors and the
public interest because the proposed amended rule would clearly state
that the Exchange will not be open for business on Juneteenth National
Independence Day, which is a federal holiday, and would address what
day would be taken off if June 19 fell on a Saturday or Sunday. The
change would thereby promote clarity and transparency in the Exchange
rules by updating the list of holidays of the Exchange.
The proposed change does not raise any new or novel issues.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\9\ the Exchange
believes that the proposed rule change will not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The proposed change is not designed to address any
competitive issue but rather to amend the Exchange rule regarding
holidays.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
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
Because the foregoing 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 for 30 days from the date on 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 \10\ and Rule 19b-
4(f)(6)(iii) thereunder.\11\
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\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of 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.
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A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission
may 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 prior to 30 days after the date of
the filing. The Exchange states that waiver of the operative delay
would be consistent with the protection of investors and the public
interest because the proposed rule change, as described above, would
state that the Exchange will not be open for business on Juneteenth
National Independence Day, which is a federal holiday, and would
address what day would be taken
[[Page 55035]]
off if June 19 fell on a Saturday or Sunday. The Exchange further
states that the proposed change does not raise any new or novel 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
operative delay and designates the proposed rule change operative upon
filing.\14\
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\12\ 17 CFR 240.19b-4(f)(6).
\13\ 17 CFR 240.19b-4(f)(6)(iii).
\14\ For purposes only of waiving the 30-day operative delay,
the Commission also has 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. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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-NYSENAT-2021-18 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-NYSENAT-2021-18. 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 such 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-NYSENAT-2021-18, and should be submitted
on or before October 26, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-21740 Filed 10-4-21; 8:45 am]
BILLING CODE 8011-01-P
