Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt on a Permanent Basis the Pilot Program for Market-Wide Circuit Breakers in Rule 7.12, 2189 [2022-00491]

Download as PDF Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices 6. Section 6(c) of the Act provides that the Commission may exempt any person, security or transaction, or any class of persons, securities or transactions, from any provisions of the Act, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. Section 17(b) of the Act authorizes the Commission to exempt a proposed transaction from section 17(a) of the Act if evidence establishes that the terms of the transaction, including the consideration to be paid or received, are reasonable and fair and do not involve overreaching on the part of any person concerned, and the transaction is consistent with the policies of the registered investment company and the general purposes of the Act. Section 12(d)(1)(J) of the Act provides that the Commission may exempt any person, security, or transaction, or any class or classes of persons, securities or transactions, from any provision of section 12(d)(1) if the exemption is consistent with the public interest and the protection of investors. Applicants submit that for the reasons stated in the Reference Order the requested relief meets the exemptive standards under sections 6(c), 17(b) and 12(d)(1)(J) of the Act. For the Commission, by the Division of Investment Management, pursuant to delegated authority. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2022–00598 Filed 1–12–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93933; File No. SR–NYSE– 2021–40] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt on a Permanent Basis the Pilot Program for Market-Wide Circuit Breakers in Rule 7.12 January 7, 2022. I. Introduction On July 2, 2021, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposal to make its rules governing the operation of the MarketWide Circuit Breakers (‘‘MWCB’’) mechanism permanent. The proposed rule change was published for comment in the Federal Register on July 22, 2021.3 On August 27, 2021, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to either approve the proposed rule changes, disapprove the proposed rule changes, or institute proceedings to determine whether to disapprove the proposed change.5 On September 30, 2021, the Commission initiated proceedings to determine whether to approve or disapprove the proposed rule changes.6 The Commission has received no comments on the proposed rule change. Section 19(b)(2) of the Act 7 provide that, after instituting proceedings, the Commission shall issue an order approving or disapproving a proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change.8 The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 92428 (July 16, 2021), 86 FR 38776. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 92785A, 86 FR 50202 (September 7, 2021). 6 See Securities Exchange Act Release No. 93212, 86 FR 55066 (October 5, 2021). 7 15 U.S.C. 78s(b)(2). 8 15 U.S.C. 78s(b)(2)(B)(ii)(I). jspears on DSK121TN23PROD with NOTICES1 2 17 that relies on the Order in the future will comply with the terms and conditions of the Order and the terms and conditions of the Reference Order that are incorporated by reference into the Order. VerDate Sep<11>2014 18:18 Jan 12, 2022 Jkt 256001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 2189 reasons for such determination.9 The 180th day for the proposed rule change is January 18, 2022. The Commission is extending the 180day time period for Commission action on the proposed rule change. The Commission finds it 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 change, including the sufficiency of the proposal’s ongoing assessment provisions. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 designates March 19, 2022 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR– NYSE–2021–40). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2022–00491 Filed 1–12–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93934; File No. SR–NYSE– 2020–96] New York Stock Exchange LLC; Order Granting Petition for Review and Scheduling Filing of Statements Regarding an Order Disapproving Proposed Rule Change To Amend Its Rules Establishing Maximum Fee Rates To Be Charged by Member Organizations for Forwarding Proxy and Other Materials to Beneficial Owners January 7, 2022. This matter comes before the Securities and Exchange Commission (‘‘Commission’’) on petition to review the disapproval, pursuant to delegated authority, of the New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) proposed rule change (File No. SR– NYSE–2020–96) to amend its rules establishing maximum fee rates to be charged by member organizations for forwarding proxy and other materials to beneficial owners. On December 15, 2020, the Commission issued a notice of filing of the proposed rule change with the Commission pursuant to Section 19(b)(1) of the Securities Exchange Act 9 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa). U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(57). 10 15 E:\FR\FM\13JAN1.SGM 13JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 87, Number 9 (Thursday, January 13, 2022)]
[Notices]
[Page 2189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00491]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93933; File No. SR-NYSE-2021-40]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Adopt on a Permanent Basis the Pilot Program for Market-
Wide Circuit Breakers in Rule 7.12

January 7, 2022.

I. Introduction

    On July 2, 2021, New York Stock Exchange LLC (``NYSE'' or the 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposal to make its rules governing the operation of the Market-Wide 
Circuit Breakers (``MWCB'') mechanism permanent. The proposed rule 
change was published for comment in the Federal Register on July 22, 
2021.\3\ On August 27, 2021, pursuant to Section 19(b)(2) of the 
Act,\4\ the Commission designated a longer period within which to 
either approve the proposed rule changes, disapprove the proposed rule 
changes, or institute proceedings to determine whether to disapprove 
the proposed change.\5\ On September 30, 2021, the Commission initiated 
proceedings to determine whether to approve or disapprove the proposed 
rule changes.\6\ The Commission has received no comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 92428 (July 16, 
2021), 86 FR 38776.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 92785A, 86 FR 50202 
(September 7, 2021).
    \6\ See Securities Exchange Act Release No. 93212, 86 FR 55066 
(October 5, 2021).
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    Section 19(b)(2) of the Act \7\ provide that, after instituting 
proceedings, the Commission shall issue an order approving or 
disapproving a proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change.\8\ 
The Commission may, however, extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination.\9\ The 180th day for 
the proposed rule change is January 18, 2022.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa).
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    The Commission is extending the 180-day time period for Commission 
action on the proposed rule change. The Commission finds it 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 change, including the sufficiency of the 
proposal's ongoing assessment provisions.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates March 19, 2022 as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-NYSE-2021-40).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00491 Filed 1-12-22; 8:45 am]
BILLING CODE 8011-01-P

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