Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 85821 

11 15 U.S.C. 78s(b)(3)(A)(iii). 

12 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 13 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 11 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.12

The Exchange believes that this filing 

is non-controversial and eligible to 

become effective immediately because 

the proposal promotes uniformity in 

rules across self-regulatory 

organizations thereby enabling the 

Exchange to conduct hearings during 

the COVID–19 pandemic by video 

conference where the health risks of inperson hearings are significant. The 

proposed rule change is based on, and 

similar to, recent changes made to 

FINRA Rule 1015 that addressed the 

issue of balancing public health risks 

with conducting hearings during the 

COVID–19 pandemic. The Exchange 

proposes to adopt the rule change in 

substantially the same form as it was 

adopted by FINRA. The Exchange 

further believes that the proposed rule 

change would not significantly affect 

the protection of investors or the public 

interest or impose any significant 

burden on competition because the 

changes are based on the rules of 

FINRA. Moreover, the proposed rule 

change is not intended to address 

competitive issues but rather is 

concerned solely with providing 

temporary relief given the impacts of the 

COVID–19 pandemic. 

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 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

GEMX–2020–21 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–GEMX–2020–21. 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 (http://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. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–GEMX–2020–21 and 

should be submitted on or before 

January 19, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–28668 Filed 12–28–20; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90754; File No. SR– 

NYSEAMER–2020–85] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Extend the Effective 

Date in Commentary .10 Under NYSE 

American Rule 2.1210 

December 21, 2020. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (‘‘Act’’ 

or ‘‘Exchange Act’’) 1 and Rule 19b–4 

thereunder,2 notice is hereby given that 

on December 15, 2020, NYSE American 

LLC (‘‘NYSE American’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the proposed rule 

change as described in Items I and II 

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 

The Exchange proposes a rule change 

to extend the effective date in 

Commentary .10 (Temporary Extension 

of the Limited Period for Registered 

Persons to Function as Principals) under 

NYSE American Rule 2.1210 

(Registration Requirements) applicable 

to member organizations, Equity 

Trading Permit (‘‘ETP’’) Holders and 

American Trading Permit (‘‘ATP’’) 

Holders, from December 31, 2020 to 

April 30, 2021. The proposed rule 

change is available on the Exchange’s 

website at www.nyse.com, at the 

principal office of the Exchange, and at 

the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES
85822 Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 

3The term ‘‘member organization’’ is defined in 

Rule 24 (Office Rules) as ‘‘a partnership, 

corporation or such other entity as the Exchange 

may, by Rule, permit to become a member 

organization, and which meets the qualifications 

specified in the Rules.’’ The term ‘‘member 

organization’’ is defined in Rule 2(b)(i) (Equities 

Rules) as a registered broker or dealer (unless 

exempt pursuant to the Exchange Act that is a 

member of the Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) or another registered 

securities exchange. Member organizations that 

transact business with public customers or conduct 

business on the Floor of the Exchange shall at all 

times be members of FINRA. A registered broker or 

dealer must also be approved by the Exchange and 

authorized to designate an associated natural 

person to effect transactions on the floor of the 

Exchange or any facility thereof. This term shall 

include a natural person so registered, approved 

and licensed who directly effects transactions on 

the floor of the Exchange or any facility thereof.’’ 

The term ‘‘member organization’’ also includes any 

registered broker or dealer that is a member of 

FINRA or a registered securities exchange, 

consistent with the requirements of section 2(b)(i) 

of this Rule, which does not own a trading license 

and agrees to be regulated by the Exchange as a 

member organization and which the Exchange has 

agreed to regulate.’’ See Rule 2(a)(ii) (Equities 

Rules). The term ‘‘ETP Holder’’ means a member 

organization that has been issued an ETP. An ETP 

Holder will agree to be bound by the Rules of the 

Exchange, and by all applicable rules and 

regulations of the Securities and Exchange 

Commission. See Rule 1.1E(n). References to 

‘‘member organization’’ as used in Exchange rules 

include ATP Holders, which are registered brokers 

or dealers approved to effect transactions on the 

Exchange’s options marketplace. Under the 

Exchange’s rules, an ATP Holder has the status as 

a ‘‘member’’ of the Exchange as that term is defined 

in Section 3 of the Act. See Rule 900.2NY(4) & (5). 

4 If NYSE American seeks to provide additional 

temporary relief from the rule requirements 

identified in this proposed rule change beyond 

April 30, 2021, NYSE American will submit a 

separate rule filing to further extend the temporary 

extension of time. 

5See Exchange Act Release No. 90617 (December 

9, 2020), 85 FR 81258 (December 15, 2020) (SR– 

FINRA–2020–043) (the ‘‘FINRA Filing’’). The 

Exchange notes that the FINRA Filing also provides 

temporary relief to individuals registered with 

FINRA as Operations Professionals under FINRA 

Rule 1220. The Exchange does not have a 

registration category for Operations Professionals 

and therefore, the Exchange is not proposing to 

adopt that aspect of the FINRA Filing. 

6See https://www.finra.org/rules-guidance/keytopics/covid-19/faq#qe. 

7At the outset of the COVID–19 pandemic, all 

FINRA qualification examinations were 

administered at test centers operated by Prometric. 

Based on the health and welfare concerns resulting 

from COVID–19, in March Prometric closed all of 

its test centers in the United States and Canada and 

began to slowly reopen some of them at limited 

capacity in May. Currently, Prometric has resumed 

testing in many of its United States and Canada test 

centers, at either full or limited occupancy, based 

on local and government mandates. 

8NYSE American Rule 2.1210.03 is the 

corresponding rule to FINRA Rule 1210.04. 

9FINRA Rule 1210.04 (Requirements for 

Registered Persons Functioning as Principals for a 

Limited Period) allows a member firm to designate 

certain individuals to function in a principal 

capacity for 120 calendar days before having to pass 

an appropriate principal qualification examination. 

NYSE American Rule 2.1210.03 provides the same 

allowance to Members. 

10See Exchange Act Release No. 90115 (October 

7, 2020), 85 FR 64595 (October 13, 2020) (Notice 

of Filing and Immediate Effectiveness of SR– 

NYSEAMER–2020–71). 11See, e.g., Meryl Kornfield, Jacqueline Dupree, 

Marisa Iati, Paulina Villegas, Siobhan O’Grady and 

Hamza Shaban, New daily coronavirus cases in U.S. 

rise to 145,000, latest all-time high, Wash. Post, 

November 11, 2020, https://www.washingtonpost 

.com/nation/2020/11/11/coronavirus-covid-liveupdates-us/. 

12 Information about the continued impact of 

COVID–19 on FINRA-administered examinations is 

available at https://www.finra.org/rules-guidance/ 

key-topics/covid-19/exams. 

13 Information from Prometric about its safety 

practices and the impact of COVID–19 on its 

operations is available at https://

www.prometric.com/corona-virus-update. See also 

supra note 12. 

14Earlier this year, an online test delivery service 

was launched for candidates seeking to take 

qualification examination remotely. Only certain 

qualification examinations are available online. See 

supra note 12. FINRA is considering making 

additional qualification examinations available 

remotely on a limited basis. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to extend the 

effective date in Commentary .10 

(Temporary Extension of the Limited 

Period for Registered Persons to 

Function as Principals) under NYSE 

American Rule 2.1210 (Registration 

Requirements) applicable to member 

organizations, ETP Holders and ATP 

Holders (collectively, ‘‘Members’’) 3

from December 31, 2020 to April 30, 

2021. The proposed rule change would 

extend the 120-day period that certain 

individuals can function as a principal 

without having successfully passed an 

appropriate qualification examination 

through April 30, 2021,4 and would 

apply only to those individuals who 

were designated to function as a 

principal prior to January 1, 2021. This 

proposed rule change is based on a 

filing recently submitted by the 

Financial Regulatory Authority, Inc. 

(‘‘FINRA’’) 5 and is intended to 

harmonize the Exchange’s registration 

rules with those of FINRA so as to 

promote uniform standards across the 

securities industry. 

The COVID–19 pandemic is an 

unpredictable, exogenous event that has 

resulted in unavoidable disruptions to 

the securities industry and impacted 

member firms, regulators, investors and 

other stakeholders. In response to 

COVID–19, earlier this year FINRA 

began providing temporary relief by way 

of frequently asked questions 

(‘‘FAQs’’) 6 to address disruptions to the 

administration of FINRA qualification 

examinations caused by the pandemic 

that have significantly limited the 

ability of individuals to sit for 

examinations due to Prometric test 

center capacity issues.7

FINRA published the first FAQ on 

March 20, 2020, providing that 

individuals who were designated to 

function as principals under FINRA 

Rule 1210.04 8 prior to February 2, 2020, 

would be given until May 31, 2020, to 

pass the appropriate principal 

qualification examination.9 On May 19, 

2020, FINRA extended the relief to pass 

the appropriate examination until June 

30, 2020. On June 29, 2020, FINRA 

again extended the temporary relief 

providing that individuals who were 

designated to function as principals 

under FINRA Rule 1210.04 prior to May 

4, 2020, would be given until August 31, 

2020, to pass the appropriate principal 

qualification examination. 

On September 25, 2020, NYSE 

American filed with the Commission a 

proposed rule change for immediate 

effectiveness to extend the temporary 

relief provided via the FAQ by adopting 

temporary Commentary .10 (Temporary 

Extension of the Limited Period for 

Registered Persons to Function as 

Principals) under NYSE American Rule 

2.1210 (Registration Requirements).10

Pursuant to this rule filing, individuals 

who were designated prior to September 

3, 2020, to function as a principal under 

NYSE American Rule 2.1210.10 have 

until December 31, 2020, to pass the 

appropriate qualification examination. 

The COVID–19 conditions 

necessitating the extension of relief 

provided in the FAQ and SR– 

NYSEAMER–2020–71 persist and in fact 

appear to be worsening.11 One of the 

impacts of COVID–19 continues to be 

serious interruptions in the 

administration of FINRA qualification 

examinations at Prometric test centers 

and the limited ability of individuals to 

sit for the examinations.12 Although 

Prometric has been reopening its test 

centers, Prometric’s safety practices 

mean that currently not all test centers 

are open, some of the open test centers 

are at limited capacity, and some open 

test centers are delivering only certain 

examinations that have been deemed 

essential by the local government.13

Furthermore, Prometric has had to close 

some reopened test centers due to 

incidents of COVID–19 cases. The initial 

nationwide closure in March along with 

the inability to fully reopen all 

Prometric test centers due to COVID–19 

have led to a significant backlog of 

individuals who are waiting to sit for 

FINRA examinations that are not 

available online, including the General 

Securities Principal Exam (Series 24).14

In addition, firms are continuing to 

experience operational challenges with 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 85823 

15See, e.g., Centers for Disease Control and 

Prevention, How to Protect Yourself & Others, 

https://www.cdc.gov/coronavirus/2019-ncov/ 

prevent-getting-sick/prevention.html. 

16 15 U.S.C. 78f(b). 

17 15 U.S.C. 78f(b)(5). 

18See FINRA Filing, 85 FR at 81260. 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 

much of their personnel working from 

home due to shelter-in-place orders, 

restrictions on businesses and social 

activity imposed in various states, and 

adherence to other social distancing 

guidelines consistent with the 

recommendations of public health 

officials.15 As a result, firms continue to 

face potentially significant disruptions 

to their normal business operations that 

may include a limitation of in-person 

activities and staff absenteeism as a 

result of the health and welfare 

concerns stemming from COVID–19. 

Such potential disruptions may be 

further exacerbated and may even affect 

client services if firms cannot continue 

to keep principal positions filled as they 

may have difficulty finding other 

qualified individuals to transition into 

these roles or may need to reallocate 

employee time and resources away from 

other critical responsibilities at the firm. 

These ongoing, extenuating 

circumstances make it impracticable for 

Members to ensure that the individuals 

whom they have designated to function 

in a principal capacity, as set forth in 

NYSE American Rule 2.1210.03, are 

able to successfully sit for and pass an 

appropriate qualification examination 

within the 120-calendar day period 

required under the rule, or to find other 

qualified staff to fill this position. The 

ongoing circumstances also require 

individuals to be exposed to the health 

risks associated with taking an inperson examination, because the 

General Securities Principal 

examination is not available online. 

Therefore, NYSE American is proposing 

to extend the effective date of the 

temporary relief provided through SR– 

NYSEAMER–2020–71 until April 30, 

2021. The proposed rule change would 

apply only to those individuals who 

were designated to function as a 

principal prior to January 1, 2021. Any 

individuals designated to function as a 

principal on or after January 1, 2021, 

would need to successfully pass an 

appropriate qualification examination 

within 120 days. 

NYSE American believes that this 

proposed continued extension of time is 

tailored to address the needs and 

constraints on a Member’s operations 

during the COVID–19 pandemic, 

without significantly compromising 

critical investor protection. The 

proposed extension of time will help to 

minimize the impact of COVID–19 on 

Members by providing continued 

flexibility so that Members can ensure 

that principal positions remain filled. 

The potential risks from the proposed 

extension of the 120-day period are 

mitigated by the Member’s continued 

requirement to supervise the activities 

of these designated individuals and 

ensure compliance with federal 

securities laws and regulations, as well 

as NYSE American rules. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Act,16 in general, and furthers the 

objectives of Section 6(b)(5),17 in 

particular, because it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in 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 proposed rule change is intended 

to minimize the impact of COVID–19 on 

Member operations by extending the 

120-day period certain individuals may 

function as a principal without having 

successfully passed an appropriate 

qualification examination under NYSE 

American Rule 2.1210.03 until April 30, 

2021. The proposed rule change does 

not relieve Members from maintaining, 

under the circumstances, a reasonably 

designed system to supervise the 

activities of their associated persons to 

achieve compliance with applicable 

securities laws and regulations, and 

with applicable NYSE American rules 

that directly serve investor protection. 

In a time when faced with unique 

challenges resulting from the COVID–19 

pandemic, NYSE American believes that 

the proposed rule change is a sensible 

accommodation that will continue to 

afford Members the ability to ensure 

that critical positions are filled and 

client services maintained, while 

continuing to serve and promote the 

protection of investors and the public 

interest in this unique environment. 

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. As set forth 

in SR–NYSEAMER–2020–71, the 

proposed rule change is intended solely 

to extend temporary relief necessitated 

by the continued impacts of the COVID– 

19 pandemic and the related health and 

safety risks of conducting in-person 

activities. In its filing, FINRA notes that 

the proposed rule change is necessary to 

temporarily rebalance the attendant 

benefits and costs of the obligations 

under FINRA Rule 1210 in response to 

the impacts of the COVID–19 pandemic 

that would otherwise result if the 

temporary amendments were to expire 

on December 31, 2020.18 The Exchange 

accordingly incorporates FINRA’s 

abbreviated economic impact 

assessment by reference. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 19 and Rule 19b– 

4(f)(6) thereunder.20

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of filing. However, pursuant to 

Rule 19b–4(f)(6)(iii), the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposed rule change may become 

operative immediately upon filing. As 

noted above, the Exchange stated that 

the proposed extension of time will help 

minimize the impact of the COVID–19 

outbreak on Members’ operations by 

allowing them to keep principal 

positions filled and minimizing 

disruptions to client services and other 

critical responsibilities. The Exchange 

further stated that the ongoing 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES
85824 Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 

21See supra note 15. 

22See supra notes 12 and 13. The Exchange states 

that Prometric has also had to close some reopened 

test centers due to incidents of COVID–19 cases. 

23See supra note 14. FINRA is considering 

making additional qualification examinations 

available remotely on a limited basis. 

24The Exchange states that Members remain 

subject to the continued requirement to supervise 

the activities of these designated individuals and 

ensure compliance with federal securities laws and 

regulations, as well as NYSE American rules. 

25See supra note 4. 

26As noted above by NYSE American, this 

proposal is an extension of temporary relief 

provided in a prior filing where NYSE American 

also requested and the Commission granted a 

waiver of the 30-day operative delay. See supra 

note 10, 85 FR at 64597. 

27For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule change’s impact on efficiency, 

competition, and capital formation. See 15 U.S.C. 

78c(f). 

28 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

extenuating circumstances of the 

COVID–19 pandemic make it 

impractical to ensure that individuals 

designated to act in these capacities are 

able to take and pass the appropriate 

qualification examination during the 

120-calendar day period required under 

the rules. The Exchange also explained 

that shelter-in-place orders, 

quarantining, restrictions on business 

and social activity and adherence to 

social distancing guidelines consistent 

with the recommendations of public 

officials remain in place in various 

states.21 In addition, the Exchange 

observed that, following a nationwide 

closure of all test centers earlier in the 

year, some test centers have re-opened, 

but are operating at limited capacity or 

are only delivering certain examinations 

that have been deemed essential by the 

local government.22 Although, as the 

Exchange noted, FINRA has launched 

an online test delivery service to help 

address this backlog, the General 

Securities Principal (Series 24) 

Examination is not available online.23

Nevertheless, the Exchange explained 

that the proposed rule change will 

provide needed flexibility to ensure that 

these positions remain filled and is 

tailored to address the constraints on 

Members’ operations during the 

COVID–19 pandemic without 

significantly compromising critical 

investor protection.24

The Commission observes that the 

Exchange’s proposal, like the FINRA 

Filing, provides only an extension to 

temporary relief from the requirement to 

pass certain qualification examinations 

within the 120-day period in the rules. 

As proposed, this relief would extend 

the 120-day period that certain 

individuals can function as principals 

through April 30, 2021. If a further 

extension of temporary relief from the 

rule requirements identified in this 

proposal beyond April 30, 2021 is 

required, the Exchange noted that it may 

submit a separate rule filing to extend 

the effectiveness of the temporary relief 

under these rules.25 For these reasons, 

the Commission believes that waiver of 

the 30-day operative delay is consistent 

with the protection of investors and the 

public interest.26 Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposal operative upon filing.27

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 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSEAMER–2020–85 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–NYSEAMER–2020–85. 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 (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSEAMER–2020–85 and 

should be submitted on or before 

January 19, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–28661 Filed 12–28–20; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90752; File No. SR–IEX– 

2020–20] 

Self-Regulatory Organizations; 

Investors Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend IEX 

Rule 2.160 (Registration Requirements 

and Restrictions on Membership) To 

Adopt Temporary Supplementary 

Material .02 (Temporary Extension of 

the Limited Period for Registered 

Persons To Function as Principals) 

Under the Rule 

December 21, 2020. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (‘‘Act’’ 

or ‘‘Exchange Act’’) 1 and Rule 19b–4 

thereunder,2 notice is hereby given that 

on December 15, 2020, the Investors 

Exchange LLC (‘‘IEX’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES