Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule With Respect to Its FINRA Non-Member Processing Registration Fee, 4319-4321 [2022-01561]
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Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Notices
Rule 19h–1 (17 CFR 240.19h–1), under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 19h–1 prescribes the form and
content of notices and applications by
self-regulatory organizations (‘‘SROs’’)
regarding proposed admissions to, or
continuances in, membership,
participation or association with a
member of any person subject to a
statutory disqualification.
The Commission uses the information
provided in the submissions filed
pursuant to Rule 19h–1 to review
decisions by SROs to permit the entry
into or continuance in the securities
business of persons who have
committed serious misconduct. The
filings submitted pursuant to the Rule
also permit inclusion of an application
to the Commission for consent to
associate with a member of an SRO
notwithstanding a Commission order
barring such association.
The Commission reviews filings made
pursuant to the Rule to ascertain
whether it is in the public interest to
permit the employment in the securities
business of persons subject to statutory
disqualification. The filings contain
information that is essential to the staff’s
review and ultimate determination on
whether an association or employment
is in the public interest and consistent
with investor protection.
It is estimated that approximately 20
respondents will make submissions
pursuant to this Rule annually. With
respect to submissions for Rule 19h–1(a)
notices, and based upon past
submissions, the staff estimates that
respondents will make a total of 11
submissions per year. The staff
estimates that the average number of
hours necessary to complete a
submission pursuant to Rule 19h–1(a)
notices is 80 hours (for a total annual
burden for all respondents in the
amount of 17,600 hours). With respect
to submissions for Rule 19h–1(a)(4)
notifications, and based upon past
submissions, the staff estimates that
respondents will make a total of 9
submissions per year. The staff
estimates that the average number of
hours necessary to complete a
submission pursuant to Rule 19h–1(a)(4)
notifications is 80 hours (for a total
annual burden for all respondents in the
amount of 14,400 hours). With respect
to submissions for Rule 19h–1(b), and
based upon past submissions, the staff
estimates that respondents will make a
total of 28 submissions per year. The
staff estimates that the average number
of hours necessary to complete a
submission pursuant to Rule 19h–1(b) is
13 hours (for a total annual burden for
all respondents in the amount of 7,280
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hours). With respect to submissions for
Rule 19h–1(d), and based upon past
submissions, the staff estimates that
respondents will make a total of 5
submissions per year. The staff
estimates that the average number of
hours necessary to complete a
submission pursuant to Rule 19h–1(d) is
80 hours (for a total annual burden for
all respondents in the amount of 8,000
hours). The aggregate annual burden for
all respondents is thus approximately
47,280 hours (17,600 +14,400 + 7,280 +
8,000).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o John Pezzullo, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: PRA_Mailbox@sec.gov.
Dated: January 21, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–01554 Filed 1–26–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–94023; File No. SR–C2–
2022–002]
Self-Regulatory Organizations; Cboe
C2 Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fees
Schedule With Respect to Its FINRA
Non-Member Processing Registration
Fee
January 21, 2022.
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 January
11, 2022 Cboe C2 Exchange, Inc. (the
‘‘Exchange’’ or ‘‘C2’’) filed with the
Securities and Exchange Commission
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00129
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4319
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe C2 Exchange, Inc. (the
‘‘Exchange’’ or ‘‘C2’’) proposes to amend
its Fees Schedule with respect to its
FINRA Non-Member Processing
registration fee. 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/
options/regulation/rule_filings/ctwo/),
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
1. Purpose
The Exchange proposes to amend the
FINRA Non-Member Processing fee to
reflect adjustments to the FINRA
registration fees. The applicable fee is
collected and retained by FINRA via
Web CRD 3 for the registration of
employees of Exchange TPH
organizations that are not FINRA
members (‘‘Non-FINRA members’’). The
Exchange is merely listing these fees on
its Fees Schedule and does not collect
or retain this fee.
Today, under the Regulatory Fees
section of the Fees Schedule are various
fees collected and retained by FINRA
via the Web CRD registration system,
3 FINRA operates Web CRD, the central licensing
and registration system for the U.S. securities
industry. FINRA uses Web CRD to maintain the
qualification, employment, and disciplinary
histories of registered associated persons of brokerdealers.
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Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Notices
including certain general registration
fees, fingerprint processing fees, and
continuing education fees. Specifically,
under the general registration fees is the
FINRA Non-Member Processing Fee of
$100 for all initial, transfer, relicense, or
dual registration Form U–4 filings. Now,
the Exchange proposes to increase the
$100 fee to $125 for such filings. The
proposed amendment is made in
accordance with a recent FINRA rule
change to adjust its fees.4
principal to $125 is equitable and not
unfairly discriminatory as the
amendment will reflect the current fee
that will be assessed by FINRA to all
members who require Form U–4 filings.
Further, the proposal is also equitable
and not unfairly discriminatory because
the Exchange will not be collecting or
retaining these fees, therefore, the
Exchange will not be in a position to
apply them in an inequitable or unfairly
discriminatory manner.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.5 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 6 requirements that the rules of
an exchange be 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 mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 7 requirement that
the rules of an exchange not be designed
to permit unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange believes it is reasonable
to increase the $100 fee for each initial
Form U–4 filed for the registration of a
representative or principal to $125 in
accordance with an adjustment to
FINRA’s fees.8 The proposed fees are
identical to those adopted by FINRA for
use of Web CRD for disclosure and the
registration of FINRA members and
their associated persons. These costs are
borne by FINRA when a Non-FINRA
member uses Web CRD.
The Exchange believes that its
proposal to increase the $100 fee for
each initial Form U–4 filed for the
registration of a representative or
B. Self-Regulatory Organization’s
Statement on Burden on Competition
4 See Securities Exchange Act Release No. 90176
(October 14, 2020), 85 FR 66592 (October 20, 2020)
(SR–FINRA–2020–032) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
To Adjust FINRA Fees To Provide Sustainable
Funding for FINRA’s Regulatory Mission).
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
7 Id.
8 Supra note 4.
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The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange believes that its proposal to
increase the $100 fee for each initial
Form U–4 filed for the registration of a
representative or principal to $125 does
not impose an undue burden on
competition as the amendment will
reflect the current fee that will be
assessed by FINRA to all members who
require Form U–4 filings. Further, the
proposal does not impose an undue
burden on competition because the
Exchange will not be collecting or
retaining these fees, therefore, the
Exchange will not be in a position to
apply them in an inequitable or unfairly
discriminatory manner.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 9 and paragraph (f) of Rule
19b–4 10 thereunder. 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 will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
9 15
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–
C2–2022–002 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–C2–2022–002. 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;
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–C2–
2022–002 and should be submitted on
or before February 17, 2022.
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
10 17
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Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–01561 Filed 1–26–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–225, OMB Control No.
3235–0235]
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Proposed Collection; Comment
Request; Extension: Rule 17a–8
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 17a–8 (17 CFR 270.17a–8) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a–1 et seq.) is
entitled ‘‘Mergers of affiliated
companies.’’ Rule 17a–8 exempts
certain mergers and similar business
combinations (‘‘mergers’’) of affiliated
registered investment companies
(‘‘funds’’) from prohibitions under
section 17(a) of the Act (15 U.S.C. 80a–
17(a)) on purchases and sales between a
fund and its affiliates. The rule requires
fund directors to consider certain issues
and to record their findings in board
minutes. The rule requires the directors
of any fund merging with an
unregistered entity to approve
procedures for the valuation of assets
received from that entity. These
procedures must provide for the
preparation of a report by an
independent evaluator that sets forth the
fair value of each such asset for which
market quotations are not readily
available. The rule also requires a fund
being acquired to obtain approval of the
merger transaction by a majority of its
outstanding voting securities, except in
certain situations, and requires any
surviving fund to preserve written
records describing the merger and its
terms for six years after the merger (the
first two in an easily accessible place).
The average annual burden of meeting
the requirements of rule 17a–8 is
estimated to be 7 hours for each fund.
The Commission staff estimates that
each year approximately 384 funds rely
on the rule. The estimated total average
annual burden for all respondents
therefore is 2,688 hours.
The average cost burden of preparing
a report by an independent evaluator in
a merger with an unregistered entity is
estimated to be $15,000. The average net
cost burden of obtaining approval of a
merger transaction by a majority of a
fund’s outstanding voting securities is
estimated to be $100,000. The
Commission staff estimates that each
year approximately 59 funds hold
shareholder votes that would not
otherwise have held a shareholder vote.
The total annual cost burden of meeting
these requirements is estimated to be
$5,900,000.
The estimates of average burden hours
and average cost burdens are made
solely for the purposes of the Paperwork
Reduction Act, and are not derived from
a comprehensive or even a
representative survey or study. An
agency may not conduct or sponsor, and
a person is not required to respond to,
a collection of information unless it
displays a currently valid OMB control
number.
Written comments are requested on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O John R.
Pezzullo, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
Mailbox@sec.gov.
Dated: January 21, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–01546 Filed 1–26–22; 8:45 am]
11 17
CFR 200.30–3(a)(12).
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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–224, OMB Control No.
3235–0217]
Submission for OMB Review;
Comment Request, Extension: Rule
17e–1
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information described below.
Rule 17e–1 (17 CFR 270.17e–1) under
the Investment Company Act of 1940
(15 U.S.C. 80a–1 et seq.) (the
‘‘Investment Company Act’’) deems a
remuneration as ‘‘not exceeding the
usual and customary broker’s
commission’’ for purposes of Section
17(e)(2)(A) of the Act (15 U.S.C. 80a–
17(e)(2)(A)) if, among other things, a
registered investment company’s
(‘‘fund’s’’) board of directors has
adopted procedures reasonably
designed to provide that the
remuneration to an affiliated broker is
reasonable and fair compared to that
received by other brokers in connection
with comparable transactions involving
similar securities being purchased or
sold on a securities exchange during a
comparable period of time and the
board makes and approves such changes
as it deems necessary. In addition, each
quarter, the board must determine that
all transactions effected under the rule
during the preceding quarter complied
with the established procedures
(‘‘review requirement’’). Rule 17e–1 also
requires the fund to (i) maintain
permanently a written copy of the
procedures adopted by the board for
complying with the requirements of the
rule; and (ii) maintain for a period of six
years, the first two in an easily
accessible place, a written record of
each transaction subject to the rule,
setting forth the amount and source of
the commission, fee, or other
remuneration received; the identity of
the broker; the terms of the transaction;
and the materials used to determine that
the transactions were effected in
compliance with the procedures
adopted by the board (‘‘recordkeeping
requirement’’). The review and
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]]>Agencies
[Federal Register Volume 87, Number 18 (Thursday, January 27, 2022)]
[Notices]
[Pages 4319-4321]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01561]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94023; File No. SR-C2-2022-002]
Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Fees Schedule With Respect to Its FINRA Non-Member Processing
Registration Fee
January 21, 2022.
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 January 11, 2022 Cboe C2 Exchange, Inc. (the ``Exchange'' or
``C2'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and 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\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Cboe C2 Exchange, Inc. (the ``Exchange'' or ``C2'') proposes to
amend its Fees Schedule with respect to its FINRA Non-Member Processing
registration fee. 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/options/regulation/rule_filings/ctwo/), 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
1. Purpose
The Exchange proposes to amend the FINRA Non-Member Processing fee
to reflect adjustments to the FINRA registration fees. The applicable
fee is collected and retained by FINRA via Web CRD \3\ for the
registration of employees of Exchange TPH organizations that are not
FINRA members (``Non-FINRA members''). The Exchange is merely listing
these fees on its Fees Schedule and does not collect or retain this
fee.
---------------------------------------------------------------------------
\3\ FINRA operates Web CRD, the central licensing and
registration system for the U.S. securities industry. FINRA uses Web
CRD to maintain the qualification, employment, and disciplinary
histories of registered associated persons of broker-dealers.
---------------------------------------------------------------------------
Today, under the Regulatory Fees section of the Fees Schedule are
various fees collected and retained by FINRA via the Web CRD
registration system,
[[Page 4320]]
including certain general registration fees, fingerprint processing
fees, and continuing education fees. Specifically, under the general
registration fees is the FINRA Non-Member Processing Fee of $100 for
all initial, transfer, relicense, or dual registration Form U-4
filings. Now, the Exchange proposes to increase the $100 fee to $125
for such filings. The proposed amendment is made in accordance with a
recent FINRA rule change to adjust its fees.\4\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 90176 (October 14,
2020), 85 FR 66592 (October 20, 2020) (SR-FINRA-2020-032) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To
Adjust FINRA Fees To Provide Sustainable Funding for FINRA's
Regulatory Mission).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\5\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \6\ requirements that the rules of an exchange be
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
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \7\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
\7\ Id.
---------------------------------------------------------------------------
The Exchange believes it is reasonable to increase the $100 fee for
each initial Form U-4 filed for the registration of a representative or
principal to $125 in accordance with an adjustment to FINRA's fees.\8\
The proposed fees are identical to those adopted by FINRA for use of
Web CRD for disclosure and the registration of FINRA members and their
associated persons. These costs are borne by FINRA when a Non-FINRA
member uses Web CRD.
---------------------------------------------------------------------------
\8\ Supra note 4.
---------------------------------------------------------------------------
The Exchange believes that its proposal to increase the $100 fee
for each initial Form U-4 filed for the registration of a
representative or principal to $125 is equitable and not unfairly
discriminatory as the amendment will reflect the current fee that will
be assessed by FINRA to all members who require Form U-4 filings.
Further, the proposal is also equitable and not unfairly discriminatory
because the Exchange will not be collecting or retaining these fees,
therefore, the Exchange will not be in a position to apply them in an
inequitable or unfairly discriminatory manner.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange believes that
its proposal to increase the $100 fee for each initial Form U-4 filed
for the registration of a representative or principal to $125 does not
impose an undue burden on competition as the amendment will reflect the
current fee that will be assessed by FINRA to all members who require
Form U-4 filings. Further, the proposal does not impose an undue burden
on competition because the Exchange will not be collecting or retaining
these fees, therefore, the Exchange will not be in a position to apply
them in an inequitable or unfairly discriminatory manner.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \9\ and paragraph (f) of Rule 19b-4 \10\
thereunder. 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 will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f).
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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-C2-2022-002 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-C2-2022-002. 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; 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-C2-2022-002 and should be
submitted on or before February 17, 2022.
[[Page 4321]]
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)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01561 Filed 1-26-22; 8:45 am]
BILLING CODE 8011-01-P
