Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 308, 40364-40366 [2023-13107]

Download as PDF 40364 Federal Register / Vol. 88, No. 118 / Wednesday, June 21, 2023 / Notices markets. Specifically, in Regulation NMS, the Commission highlighted the importance of market forces in determining prices and SRO revenues and, also, recognized that current regulation of the market system ‘‘has been remarkably successful in promoting market competition in its broader forms that are most important to investors and listed companies.’’ 20 The fact that this market is competitive has also long been recognized by the courts. In NetCoalition v. SEC, the D.C. Circuit stated as follows: ‘‘[n]o one disputes that competition for order flow is ‘fierce.’ . . . As the SEC explained, ‘[i]n the U.S. national market system, buyers and sellers of securities, and the brokerdealers that act as their order-routing agents, have a wide range of choices of where to route orders for execution’; [and] ‘no exchange can afford to take its market share percentages for granted’ because ‘no exchange possesses a monopoly, regulatory or otherwise, in the execution of order flow from broker dealers’. . . .’’.21 Accordingly, the Exchange does not believe its proposed rule change imposes any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. 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. lotter on DSK11XQN23PROD with NOTICES1 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)(ii) of the Act 22 and Rule 19b–4(f)(2) 23 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 shall institute proceedings to determine whether the proposed rule change should be approved or disapproved. 20 Id. 21 NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. Cir. 2010) (quoting Securities Exchange Act Release No. 59039 (December 2, 2008), 73 FR 74770, 74782– 83 (December 9, 2008) (SR–NYSE–2006–21)). 22 15 U.S.C. 78s(b)(3)(A)(ii). 23 17 CFR 240.19b–4(f)(2). VerDate Sep<11>2014 18:36 Jun 20, 2023 Jkt 259001 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: • 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– MEMX–2023–10 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–MEMX–2023–10. 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 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to File Number SR–MEMX–2023–10 and should be submitted on or before July 12, 2023. Frm 00172 Fmt 4703 [FR Doc. 2023–13106 Filed 6–20–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Electronic Comments PO 00000 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.24 Sherry R. Haywood, Assistant Secretary. Sfmt 4703 [Release No. 34–97725; File No. SR–NYSE– 2023–22] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 308 June 14, 2023. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on June 5, 2023, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 308 to correct an obsolete reference. 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. 24 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 15 E:\FR\FM\21JNN1.SGM 21JNN1 Federal Register / Vol. 88, No. 118 / Wednesday, June 21, 2023 / Notices A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 2. Statutory Basis 1. Purpose lotter on DSK11XQN23PROD with NOTICES1 The Exchange proposes to proposes to amend Rule 308 (Acceptability Proceedings) to correct an obsolete reference. In March 2023, the Exchange amended Rule 308 to reflect the consolidation of the Acceptability Board with the Hearing Board as defined in Rule 9232(b) (Criteria for Selection of Panelists, Replacement Panelists, and Floor-Based Panelists).4 At the same time, the Exchange removed the reference to offices of a member in the second paragraph of Rule 308(d) by deleting ‘‘member or’’ from the final sentence of that paragraph.5 In an omission, it did not delete ‘‘member or’’ from the final sentence of the first paragraph of Rule 308(d). It proposes to do so now. The Exchange proposes to delete the reference because under Rule 2(a) (‘‘Member,’’ ‘‘Membership,’’ ‘‘Member Firm,’’ etc.), a member is a natural person associated with a member organization who has been approved by the Exchange and designated by such member organization to effect transactions on the trading floor of the Exchange or any facility thereof. As such, a member cannot be a license holder or a registered broker-dealer, and thus would not have an office that ‘‘engages in a business involving substantial direct contact with securities customers’’ as set forth in Rule 308(d), unlike member organizations.6 The proposed change would be consistent with both the change made to the second paragraph of Rule 308(d) in the March Filing and with changes made to Rule 308-Equities(d) (Acceptability Proceedings) of the Exchange’s affiliate NYSE American LLC.7 4 See Securities Exchange Act Release No. 97206 (March 27, 2023), 88 FR 19334 (March 31, 2023) (SR–NYSE–2023–19) (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 308 as Defined in Rule 9232(b) and Delete and Replace Certain Obsolete References). The rule change included the deletion and, where applicable, replacement of obsolete references in the NYSE rules and Listed Company Manual. 5 See Exhibit 5 of SR–NYSE–2023–19 (March 17, 2023), p. 37 (‘‘March Filing’’). 6 See Rules 2(a) (definition of member); 2(b)(i) (defining a member organization as a registered broker or dealer); & 300(a) (providing that trading licenses are issued to member organizations). Accordingly, references to offices of a Member Organization are not proposed to be deleted. 7 See Exhibit 5 of SR–NYSEAmer–2023–29 (May 16, 2023), p. 30. See also Securities Exchange Act Release No. 97581 (May 25, 2023), 88 FR 35968 VerDate Sep<11>2014 18:36 Jun 20, 2023 Jkt 259001 The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,8 in general, and furthers the objectives of Section 6(b)(5) of the Act,9 in particular, in that 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 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. The Exchange believes that deletion of the obsolete reference to a member in Rule 308(d) would increase the clarity and transparency of the Exchange’s rules and remove impediments to and perfect the mechanism of a free and open market by ensuring that persons subject to the Exchange’s jurisdiction, regulators, and the investing public could more easily navigate and understand the Exchange rules. The Exchange believes that it would alleviate any possible confusion that could result from the current reference to the offices of a member or member organization in paragraph one of Rule 308(d) and the offices of a member organization in paragraph two of Rule 308(d). The Exchange further believes that the proposed change would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased transparency and clarity, thereby reducing potential confusion. 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 proposed rule change does not address competitive issues but rather proposes the deletion of an obsolete reference in Rule 308(d). (June 1, 2023) (SR–NYSEAmer–2023–29) (Notice of Filing and Immediate Effectiveness of Proposed Change to Amend Rule 9232 and Rule 308Equities). 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(5). PO 00000 Frm 00173 Fmt 4703 Sfmt 4703 40365 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 10 and Rule 19b–4(f)(6) thereunder.11 Because the 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 after the date of the filing, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b– 4(f)(6)(iii) thereunder. 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 19b4(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. 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 under Section 19(b)(2)(B) 14 of the Act 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: 10 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 12 17 CFR 240.19b–4(f)(6). 13 17 CFR 240.19b–4(f)(6)(iii). 14 15 U.S.C. 78s(b)(2)(B). 11 17 E:\FR\FM\21JNN1.SGM 21JNN1 40366 Federal Register / Vol. 88, No. 118 / Wednesday, June 21, 2023 / Notices 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– NYSE–2023–22 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. lotter on DSK11XQN23PROD with NOTICES1 All submissions should refer to file number SR–NYSE–2023–22. 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 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR–NYSE–2023–22 and should be submitted on or before July 12, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–13107 Filed 6–20–23; 8:45 am] CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:36 Jun 20, 2023 disapprove, the proposed rule change (File No. SR–MIAX–2023–19). [Release No. 34–97727; File No. SR–MIAX– 2023–19] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Sherry R. Haywood, Assistant Secretary. Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Amend Exchange Rule 307, Position Limits [FR Doc. 2023–13109 Filed 6–20–23; 8:45 am] BILLING CODE 8011–01–P June 14, 2023. On April 21, 2023, Miami International Securities Exchange LLC (‘‘MIAX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 a proposed rule change to amend Exchange Rule 307, Position Limits, to establish a process for adjusting option position limits following a stock split or reverse stock split in the underlying security. The proposed rule change was published for comment in the Federal Register on May 8, 2023.3 The Commission has received no comment letters regarding 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 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 June 22, 2023. The Commission is extending the 45day time period for Commission action on the proposed rule change. The Commission finds that it is 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, pursuant to section 19(b)(2) of the Act,5 the Commission designates August 6, 2023, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to 15 U.S.C. 78s(b)(1). 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 97421 (May 2, 2023), 88 FR 29725. 4 15 U.S.C. 78s(b)(2). 5 Id. 1 DEPARTMENT OF STATE [Public Notice: 12102] Notice of Determinations; Culturally Significant Objects Being Imported for Exhibition—Determinations: ‘‘Remedios Varo: Science Fictions’’ Exhibition Notice is hereby given of the following determinations: I hereby determine that certain objects being imported from abroad pursuant to an agreement with their foreign owner or custodian for temporary display in the exhibition ‘‘Remedios Varo: Science Fictions’’ at The Art Institute of Chicago, in Chicago, Illinois, and at possible additional exhibitions or venues yet to be determined, are of cultural significance, and, further, that their temporary exhibition or display within the United States as aforementioned is in the national interest. I have ordered that Public Notice of these determinations be published in the Federal Register. SUMMARY: FOR FURTHER INFORMATION CONTACT: Reed Liriano, Program Coordinator, Office of the Legal Adviser, U.S. Department of State (telephone: 202– 632–6471; email: section2459@ state.gov). The mailing address is U.S. Department of State, L/PD, 2200 C Street NW (SA–5), Suite 5H03, Washington, DC 20522–0505. The foregoing determinations were made pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), E.O. 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236–3 of August 28, SUPPLEMENTARY INFORMATION: 2 BILLING CODE 8011–01–P 15 17 SECURITIES AND EXCHANGE COMMISSION Jkt 259001 PO 00000 Frm 00174 Fmt 4703 Sfmt 4703 6 17 CFR 200.30–3(a)(31). E:\FR\FM\21JNN1.SGM 21JNN1

Agencies

[Federal Register Volume 88, Number 118 (Wednesday, June 21, 2023)]
[Notices]
[Pages 40364-40366]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13107]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97725; File No. SR-NYSE-2023-22]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend Rule 308

June 14, 2023.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given 
that on June 5, 2023, New York Stock Exchange LLC (``NYSE'' or the 
``Exchange'') filed with the Securities and Exchange Commission 
(``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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Rule 308 to correct an obsolete 
reference. 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.

[[Page 40365]]

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to proposes to amend Rule 308 (Acceptability 
Proceedings) to correct an obsolete reference.
    In March 2023, the Exchange amended Rule 308 to reflect the 
consolidation of the Acceptability Board with the Hearing Board as 
defined in Rule 9232(b) (Criteria for Selection of Panelists, 
Replacement Panelists, and Floor-Based Panelists).\4\ At the same time, 
the Exchange removed the reference to offices of a member in the second 
paragraph of Rule 308(d) by deleting ``member or'' from the final 
sentence of that paragraph.\5\ In an omission, it did not delete 
``member or'' from the final sentence of the first paragraph of Rule 
308(d). It proposes to do so now.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 97206 (March 27, 
2023), 88 FR 19334 (March 31, 2023) (SR-NYSE-2023-19) (Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change to Amend 
Rule 308 as Defined in Rule 9232(b) and Delete and Replace Certain 
Obsolete References). The rule change included the deletion and, 
where applicable, replacement of obsolete references in the NYSE 
rules and Listed Company Manual.
    \5\ See Exhibit 5 of SR-NYSE-2023-19 (March 17, 2023), p. 37 
(``March Filing'').
---------------------------------------------------------------------------

    The Exchange proposes to delete the reference because under Rule 
2(a) (``Member,'' ``Membership,'' ``Member Firm,'' etc.), a member is a 
natural person associated with a member organization who has been 
approved by the Exchange and designated by such member organization to 
effect transactions on the trading floor of the Exchange or any 
facility thereof. As such, a member cannot be a license holder or a 
registered broker-dealer, and thus would not have an office that 
``engages in a business involving substantial direct contact with 
securities customers'' as set forth in Rule 308(d), unlike member 
organizations.\6\
---------------------------------------------------------------------------

    \6\ See Rules 2(a) (definition of member); 2(b)(i) (defining a 
member organization as a registered broker or dealer); & 300(a) 
(providing that trading licenses are issued to member 
organizations). Accordingly, references to offices of a Member 
Organization are not proposed to be deleted.
---------------------------------------------------------------------------

    The proposed change would be consistent with both the change made 
to the second paragraph of Rule 308(d) in the March Filing and with 
changes made to Rule 308-Equities(d) (Acceptability Proceedings) of the 
Exchange's affiliate NYSE American LLC.\7\
---------------------------------------------------------------------------

    \7\ See Exhibit 5 of SR-NYSEAmer-2023-29 (May 16, 2023), p. 30. 
See also Securities Exchange Act Release No. 97581 (May 25, 2023), 
88 FR 35968 (June 1, 2023) (SR-NYSEAmer-2023-29) (Notice of Filing 
and Immediate Effectiveness of Proposed Change to Amend Rule 9232 
and Rule 308-Equities).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\8\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act,\9\ in particular, in that 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 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.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that deletion of the obsolete reference to a 
member in Rule 308(d) would increase the clarity and transparency of 
the Exchange's rules and remove impediments to and perfect the 
mechanism of a free and open market by ensuring that persons subject to 
the Exchange's jurisdiction, regulators, and the investing public could 
more easily navigate and understand the Exchange rules. The Exchange 
believes that it would alleviate any possible confusion that could 
result from the current reference to the offices of a member or member 
organization in paragraph one of Rule 308(d) and the offices of a 
member organization in paragraph two of Rule 308(d). The Exchange 
further believes that the proposed change would not be inconsistent 
with the public interest and the protection of investors because 
investors will not be harmed and in fact would benefit from increased 
transparency and clarity, thereby reducing potential confusion.

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 proposed rule change 
does not address competitive issues but rather proposes the deletion of 
an obsolete reference in Rule 308(d).

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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ 
Because the 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 after the date of the filing, or such shorter time as the 
Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    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 19b4(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.
---------------------------------------------------------------------------

    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    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 under 
Section 19(b)(2)(B) \14\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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:

[[Page 40366]]

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-NYSE-2023-22 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-NYSE-2023-22. 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 
a.m. and 3 p.m. Copies of the filing also will be available for 
inspection and copying at the principal office of the Exchange. Do not 
include personal identifiable information in submissions; you should 
submit only information that you wish to make available publicly. We 
may redact in part or withhold entirely from publication submitted 
material that is obscene or subject to copyright protection. All 
submissions should refer to file number SR-NYSE-2023-22 and should be 
submitted on or before July 12, 2023.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-13107 Filed 6-20-23; 8:45 am]
BILLING CODE 8011-01-P
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