Asset Management Advisory Committee, 58712-58713 [2021-23072]

Download as PDF lotter on DSK11XQN23PROD with NOTICES1 58712 Federal Register / Vol. 86, No. 202 / Friday, October 22, 2021 / Notices to the close of business on March 18, 2022 will extend the protections provided by the Pilot Rules, which would otherwise expire in less than 30 days. Waiver of the operative delay would therefore permit uninterrupted continuation of the MWCB pilot while the Commission reviews the NYSE’s proposed rule change to make the Pilot Rules permanent. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change as operative upon filing.26 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. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 27 of the Act to determine whether the proposed rule change should be approved or disapproved. 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; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CBOE–2021–060 and should be submitted on or before November 12, 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.28 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– CBOE–2021–060 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–CBOE–2021–060. 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 26 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). 27 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 17:47 Oct 21, 2021 Jkt 256001 [FR Doc. 2021–23022 Filed 10–21–21; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–93380; File No. 265–33] Asset Management Advisory Committee 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 October 28, 2021, by remote means. The meeting will begin at 10:00 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 the Evolution of Advice and the Small SUMMARY: 28 PO 00000 17 CFR 200.30–3(a)(12). Frm 00077 Fmt 4703 Sfmt 4703 Advisers and Small Funds Subcommittees, including panel discussions and potential recommendations. DATES: The public meeting will be held on October 28, 2021. Written statements should be received on or before October 25, 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 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/26533/265-33.htm). 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. Operating conditions may limit access to the Commission’s public reference room. 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, Neil Lombardo, 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, E:\FR\FM\22OCN1.SGM 22OCN1 Federal Register / Vol. 86, No. 202 / Friday, October 22, 2021 / Notices Designated Federal Officer of the Committee, has ordered publication of this notice.1 Dated: October 19, 2021. Vanessa A. Countryman, Committee Management Officer. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2021–23072 Filed 10–21–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93376; File No. SR–LTSE– 2021–06] Self-Regulatory Organizations; LongTerm Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Date of the Pilot Related to the Market-Wide Circuit Breaker in Rule 11.280 October 18, 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 October 15, 2021, Long-Term Stock Exchange, Inc. (‘‘LTSE’’ 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 solicit comments on the proposed rule change from interested persons. lotter on DSK11XQN23PROD with NOTICES1 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change LTSE proposes a rule change to extend the pilot related to the marketwide circuit breaker in Rule 11.280. The text of the proposed rule change is available at the Exchange’s website at https://longtermstockexchange.com/, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement on 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 these statements may be examined at 1 Due to scheduling challenges, earlier advance publication was not possible. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 17:47 Oct 21, 2021 Jkt 256001 the places specified in Item IV below. The self-regulatory organization has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. 1. Purpose The Exchange proposes to extend the pilot related to the market-wide circuit breaker in Rule 11.280 to the close of business on March 18, 2022. Background The Market-Wide Circuit Breaker (‘‘MWCB’’) rules, including the Exchange’s Rule 11.280, provide an important, automatic mechanism that is invoked to promote stability and investor confidence during periods of significant stress when cash equities securities experience extreme marketwide declines. The MWCB rules are designed to slow the effects of extreme price declines through coordinated trading halts across both cash equity and equity options securities markets. The cash equities rules governing MWCBs were first adopted in 1988 and, in 2012, all U.S. cash equity exchanges and FINRA amended their cash equities uniform rules on a pilot basis (the ‘‘Pilot Rules’’).3 The Pilot Rules currently provide for trading halts in all cash equity securities during a severe market decline as measured by a single-day decline in the S&P 500 Index (‘‘SPX’’).4 Under the Pilot Rules, a market-wide trading halt will be triggered if SPX declines in price by specified percentages from the prior day’s closing price of that index. The triggers are set at three circuit breaker thresholds: 7% (Level 1), 13% (Level 2), and 20% (Level 3). A market decline that triggers a Level 1 or Level 2 halt after 9:30 a.m. and before 3:25 p.m. would halt marketwide trading for 15 minutes, while a similar market decline at or after 3:25 p.m. would not halt market-wide trading. (Level 1 and Level 2 halts may 3 See Securities Exchange Act Release No. 67090 (May 31, 2012), 77 FR 33531 (June 6, 2012) (SR– BATS–2011–038; SR–BYX–2011–025; SR–BX– 2011–068; SR–CBOE–2011–087; SR–C2–2011–024; SR–CHX–2011–30; SR–EDGA–2011–31; SR–EDGX– 2011–30; SR–FINRA–2011–054; SR–ISE–2011–61; SR–NASDAQ–2011–131; SR–NSX–2011–11; SR– NYSE–2011–48; SR–NYSEAmex-2011–73; SR– NYSEArca–2011–68; SR–Phlx–2011–129) (‘‘Pilot Rules Approval Order’’). LTSE adopted Pilot Rules as part of its approval as a national securities exchange. See generally [cite to Form 1 approval][sic]. 4 The rules of the equity options exchanges similarly provide for a halt in trading if the cash equity exchanges invoke a MWCB Halt. See, e.g., NYSE Arca Rule 6.65–O(d)(4). PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 58713 occur only once a day.) A market decline that triggers a Level 3 halt at any time during the trading day would halt market-wide trading for the remainder of the trading day. The Commission approved the Pilot Rules, the term of which was to coincide with the pilot period for the Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of Regulation NMS (the ‘‘LULD Plan’’),5 including any extensions to the pilot period for the LULD Plan.6 In April 2019, the Commission approved an amendment to the LULD Plan for it to operate on a permanent, rather than pilot, basis.7 In conjunction with the proposal to make the LULD Plan permanent, the Exchange amended Rule 11.280 to untie the Pilot Rules’ effectiveness from that of the LULD Plan and to extend the Pilot Rules’ effectiveness to the close of business on October 18, 2020.8 The Exchange subsequently amended Rule 11.280, to extend the Pilot Rules’ effectiveness for an additional year to the close of business on October 18, 2021.9 The Exchange now proposes to amend Rule 11.280 to extend the pilot to the close of business on March 18, 2022. This filing does not propose any substantive or additional changes to Rule 11.280. The MWCB Task Force and the March 2020 MWCB Events In late 2019, Commission staff requested the formation of a MWCB Task Force (‘‘Task Force’’) to evaluate the operation and design of the MWCB mechanism. The Task Force included representatives from the SROs, the Commission, CME, the Commodity Futures Trading Commission (‘‘CFTC’’), and the securities industry and conducted several organizational meetings in December 2019 and January 2020. In Spring 2020, the MWCB mechanism proved itself to be an effective tool for protecting markets through turbulent times. In March 2020, at the outset of the worldwide COVID– 5 See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6, 2012). The LULD Plan provides a mechanism to address extraordinary market volatility in individual securities. 6 See e.g. Securities Exchange Act Release Nos. 67090 (May 31, 2012), 77 FR 33531 (June 6, 2012) (SR–NYSE–2011–48) (Approval Order); and 68784 (January 31, 2013), 78 FR 8662 (February 6, 2013) (SR–NYSE–2013–10). 7 See Securities Exchange Act Release No. 85623 (April 11, 2019), 84 FR 16086 (April 17, 2019). 8 See https://www.sec.gov/rules/sro/ltse/2019/3487357.pdf. 9 See Securities Exchange Act Release No. 90125 (October 8, 2020), 85 FR 65114 (October 14, 2020) (SR–LTSE–2020–18). E:\FR\FM\22OCN1.SGM 22OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 86, Number 202 (Friday, October 22, 2021)]
[Notices]
[Pages 58712-58713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23072]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93380; File No. 265-33]


Asset Management Advisory Committee

AGENCY: Securities and Exchange Commission.

ACTION: Notice of meeting.

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SUMMARY: Notice is being provided that the Securities and Exchange 
Commission Asset Management Advisory Committee (``AMAC'') will hold a 
public meeting on October 28, 2021, by remote means. The meeting will 
begin at 10:00 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 the Evolution of 
Advice and the Small Advisers and Small Funds Subcommittees, including 
panel discussions and potential recommendations.

DATES: The public meeting will be held on October 28, 2021. Written 
statements should be received on or before October 25, 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).
    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. Operating conditions may limit access to the 
Commission's public reference room.
    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, Neil Lombardo, 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,

[[Page 58713]]

Designated Federal Officer of the Committee, has ordered publication of 
this notice.\1\
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    \1\ Due to scheduling challenges, earlier advance publication 
was not possible.

    Dated: October 19, 2021.
Vanessa A. Countryman,
Committee Management Officer.
[FR Doc. 2021-23072 Filed 10-21-21; 8:45 am]
BILLING CODE 8011-01-P

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