Federal Register / Vol. 86, No. 3 / Wednesday, January 6, 2021 / Notices 647 

26 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78s(b)(1). 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 90088 

(October 5, 2020), 85 FR 64186 (October 9, 2020) 

(SR–NYSEArca–2020–85) (‘‘SR–NYSEArca–2020– 

85’’). 

5The Exchange may submit a separate rule filing 

to extend the expiration date of the proposed 

extension beyond April 30, 2021 if the Exchange 

requires additional temporary relief from the rule 

requirements identified in SR–NYSEArca–2020–85. 

The amended NYSE Arca rules will revert back to 

their original state at the conclusion of the 

temporary relief period and any extension thereof. 

6See Securities Exchange Act Release No. 85639 

(April 12, 2019), 84 FR 16346 (April 18, 2019) (SR– 

NYSEArca–2019–15) (‘‘2019 Notice’’). 

7See NYSE Arca Equities RB–19–060 & NYSE 

Arca Options RB–19–02 (April 26, 2019). 

All submissions should refer to File 

Number SR–NYSE–2020–107. 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, on business days 

between the hours of 10:00 a.m. and 

3:00 p.m., located at 100 F Street NE, 

Washington, DC 20549. 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–NYSE–2020–107 and 

should be submitted on or before 

February 22, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–29212 Filed 1–5–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90820; File No. SR– 

NYSEArca–2020–116] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Extending the Expiration 

Date of the Temporary Amendments to 

Rules 10.9261 and 10.9830 as Set Forth 

in SR–NYSEArca–2020–85 From 

December 31, 2020, to April 30, 2021 

December 30, 2020. 

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

Securities Exchange Act of 1934 (‘‘Act’’ 

or ‘‘Exchange Act’’) 2 and Rule 19b–4 

thereunder,3 notice is hereby given that 

on December 22, 2020, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ 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 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 extending the 

expiration date of the temporary 

amendments to Rules 10.9261 and 

10.9830 as set forth in SR–NYSEArca– 

2020–85 from December 31, 2020, to 

April 30, 2021, in conformity with 

recent changes by the Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’). 

The proposed rule change would not 

make any changes to the text of NYSE 

Arca Rules 10.9261 and 10.9830. 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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes extending the 

expiration date of the temporary 

amendments in SR–NYSEArca–2020– 

85 4 to Rules 10.9261 (Evidence and 

Procedure in Hearing) and 10.9830 

(Hearing) from December 31, 2020, to 

April 30, 2021 to harmonize with recent 

changes by FINRA to extend the 

expiration date of the temporary 

amendments to its Rules 9261 and 9830. 

SR–NYSEArca–2020–85 temporarily 

granted to the Chief or Deputy Chief 

Hearing Officer the authority to order 

that hearings be conducted by video 

conference if warranted by public health 

risks posed by in-person hearings 

during the ongoing COVID–19 

pandemic. The proposed rule change 

would not make any changes to the text 

of Exchange Rules 10.9261 and 

10.9830.5

Background 

In 2019, NYSE Arca adopted 

disciplinary rules based on the text of 

the Rule 8000 and Rule 9000 Series of 

its affiliate NYSE American LLC 

(‘‘NYSE American’’), with certain 

changes. The NYSE American 

disciplinary rules are, in turn, 

substantially the same as the Rule 8000 

Series and Rule 9000 Series of FINRA 

and the New York Stock Exchange 

LLC.6 The NYSE Arca disciplinary rules 

were implemented on May 27, 2019.7

In adopting disciplinary rules 

modeled on FINRA’s rules, NYSE Arca 

adopted the hearing and evidentiary 

processes set forth in Rule 10.9261 and 

in Rule 10.9830 for hearings in matters 

involving temporary and permanent 

cease and desist orders under the Rule 

10.9800 Series. As adopted, the text of 

Rule 10.9261 and Rule 10.9830 are 


jbell on DSKJLSW7X2PROD with NOTICES
648 Federal Register / Vol. 86, No. 3 / Wednesday, January 6, 2021 / Notices 

8See 2019 Notice, 84 FR at 16365 & 16373–4. 

9See Securities Exchange Act Release No. 89737 

(September 2, 2020), 85 FR 55712 (September 9, 

2020) (SR–FINRA–2020–027) (the ‘‘August 31 

FINRA Filing’’). 

10See supra note 4. 

11See Securities Exchange Act Release No. 90619 

(December 9, 2020), 85 FR 81250 (December 15, 

2020) (SR–FINRA–2020–042) (‘‘SR–FINRA–2020– 

042’’). 

12See id. 

13See SR–FINRA–2020–042, 85 FR at 81251–52; 

August 31 FINRA Filing, 85 FR at 55713. 

14 15 U.S.C. 78f(b). 

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

16 15 U.S.C. 78f(b)(7) and 78f(d). 

17 15 U.S.C. 78f(b)(7) and 78f(d). 

substantially the same as the FINRA 

rules with certain modifications.8

In response to the spread of COVID– 

19, on August 31, 2020, FINRA filed 

with the Commission a proposed rule 

change for immediate effectiveness, SR– 

FINRA–2020–027, to temporarily grant 

FINRA’s Office of Hearing Officers 

(‘‘OHO’’) and the National Adjudicatory 

Council (‘‘NAC’’) the authority to 

conduct certain hearings by video 

conference, if warranted by the current 

COVID–19-related public health risks 

posed by in-person hearings. Among the 

rules FINRA amended were Rules 9261 

and 9830.9

Given that FINRA and OHO 

administers disciplinary hearings on the 

Exchange’s behalf, and that the public 

health concerns addressed by FINRA’s 

amendments apply equally to Exchange 

disciplinary hearings, on September 23, 

2020, the Exchange filed to temporarily 

amend Rule 10.9261 and Rule 10.9830 

to permit FINRA to conduct virtual 

hearings on its behalf.10 The temporary 

amendments to Rule 10.9261 and Rule 

10.9830, as originally proposed, will 

expire on December 31, 2020, absent 

another proposed rule change filing by 

the Exchange. 

The COVID–19 conditions 

necessitating these temporary 

amendments persist, with cases rapidly 

escalating nationwide. Based on its 

assessment of current COVID–19 

conditions and the lack of certainty as 

to when COVID–19-related health 

concerns will subside, on December 1, 

2020, FINRA filed to extend the 

expiration date of the temporary rule 

amendments to, among other rules, 

FINRA Rule 9261 and 9830 from 

December 31, 2020, to April 30, 2021.11

Proposed Rule Change 

Consistent with FINRA’s recent 

proposal, the Exchange proposes to 

extend the expiration date of the 

temporary rule amendments to NYSE 

Arca Rules 10.9261 and 10.9830 as set 

forth in SR–NYSEArca–2020–85 from 

December 31, 2020, to April 30, 2021. 

As set forth in SR–FINRA–2020–042, 

based on its assessment of current 

COVID–19 conditions, including the 

recent escalation in COVID–19 cases 

nationwide, FINRA does not believe 

that the COVID–19-related health 

concerns necessitating this relief will 

subside by December 31, 2020, and has 

determined that there will be a 

continued need for this temporary relief 

for several months beyond December 31, 

2020.12 FINRA accordingly proposed to 

extend the expiration date of the 

temporary rule amendments in the 

August 31 FINRA Filing from December 

31, 2020, to April 30, 2021. 

The Exchange proposes to similarly 

extend the expiration date of the 

temporary rule amendments to NYSE 

Arca Rules 10.9261 and 10.9830 as set 

forth in SR–NYSEArca–2020–85 from 

December 31, 2020, to April 30, 2021. 

With COVID–19 cases surging 

nationwide, the Exchange agrees with 

FINRA that the COVID–19-related 

public health risks necessitating this 

temporary relief have not yet abated and 

are unlikely to abate by December 31, 

2020. The proposed change will permit 

OHO to continue to assess, based on 

critical COVID–19 data and criteria and 

the guidance of health and security 

consultants, whether an in-person 

hearing would compromise the health 

and safety of the hearing participants 

such that the hearing should proceed by 

video conference. FINRA has adopted a 

detailed and thorough protocol to 

ensure that hearings conducted by video 

conference will maintain fair process for 

the parties.13 The Exchange believes 

that this is a reasonable procedure to 

continue to follow for hearings under 

Rules 10.9261 and 10.9830 chaired by a 

FINRA employee. 

As noted below, the Exchange has 

filed the proposed rule change for 

immediate effectiveness and has 

requested that the SEC waive the 

requirement that the proposed rule 

change not become operative for 30 days 

after the date of the filing, so the 

Exchange can implement the proposed 

rule change immediately. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Act,14 in general, and furthers the 

objectives of Section 6(b)(5),15 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. Additionally, the 

Exchange believes the proposed rule 

change is designed to provide a fair 

procedure for the disciplining of 

members and persons associated with 

members, consistent with Sections 

6(b)(7) and 6(d) of the Act.16

The Exchange believes that the 

proposed rule change supports the 

objectives of the Act by providing 

greater harmonization between 

Exchange rules and FINRA rules of 

similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance. As such, the 

proposed rule change will foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities and will 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system. 

The proposed rule change, which 

extends the expiration date of the 

temporary amendments to Exchange 

rules consistent with FINRA’s extension 

to its Rules 9261 and 9830 for four 

months as set forth in SR–FINRA–2020– 

042, will permit the Exchange to 

continue to effectively conduct hearings 

during the COVID–19 pandemic in 

situations where in-person hearings 

present likely public health risks. The 

ability to conduct hearings by video 

conference will permit the adjudicatory 

functions of the Exchange’s disciplinary 

rules to continue unabated, thereby 

avoiding protracted delays. The 

Exchange believes that this is especially 

important in matters where temporary 

and permanent cease and desist orders 

are sought because the proposed rule 

change would enable those hearings to 

continue to proceed without delay, 

thereby enabling the Exchange to 

continue to take immediate action to 

stop significant, ongoing customer 

harm, to the benefit of the investing 

public. 

As set forth in detail in the SR– 

NYSEArca–2020–85, the temporary 

relief to permit hearings to be conducted 

via video conference maintains fair 

process and will continue to provide 

fair process consistent with Sections 

6(b)(7) and 6(d) of the Act 17 while 

striking an appropriate balance between 

providing fair process and enabling the 

Exchange to fulfill its statutory 

obligations to protect investors and 

maintain fair and orderly markets while 

accounting for the significant health and 

safety risks of in-person hearings 

stemming from the outbreak of COVID– 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 3 / Wednesday, January 6, 2021 / Notices 649 

18 15 U.S.C. 78s(b)(3)(A). 

19 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. 

20See SR–FINRA–2020–042. 

21See id. 

22See supra note 11 (referencing FINRA’s 

proposal to extend the expiration date of temporary 

rule amendments allowing hearings to be 

conducted on a temporary basis by video 

conference if warranted by COVID–19 related 

health risks). 

23See supra note 5 and accompanying text. 

24See supra notes 9 and 11 and accompanying 

text. 

25For 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). 

19. The Exchange notes that this 

proposal, like SR–NYSEArca–2020–85, 

provides only temporary relief. As 

proposed, the changes would be in 

place through April 30, 2021. As noted 

in SR–NYSEArca–2020–85 and above, 

the amended rules will revert back to 

their original state at the conclusion of 

the temporary relief period and, if 

applicable, any extension thereof. 

Accordingly, the proposed rule 

change extending this temporary relief 

is in the public interest and consistent 

with the Act’s purpose. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed temporary 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 is not 

intended to address competitive issues 

but is rather intended solely to provide 

continued temporary relief given the 

impacts of the COVID–19 pandemic and 

the related health and safety risks of 

conducting in-person activities. The 

Exchange believes that the proposed 

rule change will prevent unnecessary 

disruptions that would otherwise result 

if the temporary amendments were to 

expire on December 31, 2020. 

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) 18 of the Act and Rule 19b– 

4(f)(6) thereunder.19

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 requested that the 

Commission waive the 30-day operative 

delay so that the proposed rule change 

may become operative immediately 

upon filing. As noted above, the 

Exchange states that the COVID-related 

health and safety risks of conducting inperson activities, which necessitated 

these temporary amendments, persist 

and that cases are escalating 

nationwide. Based on FINRA’s 

assessment of the current COVID–19 

conditions and FINRA’s determination 

that there is a continued need for this 

temporary relief for several months 

beyond December 31, 2020, the 

Exchange states that it agrees with 

FINRA that the COVID–19-related 

public health risks necessitating this 

temporary relief have not yet abated and 

are unlikely to abate by December 31, 

2020.20 Moreover, the Exchange states 

that FINRA has adopted a detailed and 

thorough protocol to ensure that 

hearings conducted by video conference 

will provide a fair process for all parties 

and will enable the Exchange to fulfill 

its statutory obligations to protect 

investors and maintain fair and orderly 

markets.21 The Exchange believes that 

this is a reasonable procedure to 

continue to follow for hearings under 

Rules 10.9261 and 10.9830 chaired by a 

FINRA employee. Accordingly, the 

Exchange states that waiver of the 

operative delay would prevent 

unnecessary disruptions that would 

otherwise result if the temporary 

amendments were to expire on 

December 31, 2020. 

The Exchange also indicates that this 

filing is eligible to become operative 

immediately because the proposal 

would continue to provide greater 

harmonization between the Exchange 

rules and FINRA rules that serve a 

similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance. This proposal 

would serve to extend the expiration 

date of the temporary amendments to 

the Exchange rules set forth in SR– 

NYSEArca–2020–85, which is 

consistent with FINRA’s extension to its 

comparable rules, where FINRA 

requested and the Commission granted 

a waiver of the 30-day operative delay.22

The Exchange also states that this 

temporary relief is necessary in order to 

continue performing adjudicatory 

functions necessary to meet its statutory 

obligations in light of COVID–19 related 

health and safety risks associated with 

in-person hearings and will only be 

temporary relief, with the rules 

reverting back to their original state at 

the conclusion of the relief period and 

any extension thereof.23

The Commission observes that this 

proposal, like SR–NYSEArca–2020–85 

and FINRA’s comparable filing,24

provides only temporary relief during 

the period in which the Exchange’s 

operations are impacted by COVID–19. 

As proposed, the changes would be in 

place through April 30, 2021. 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. 

Accordingly, the Commission hereby 

waives the 30-day operative delay and 

designates the proposal operative upon 

filing.25

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– 

NYSEArca–2020–116 on the subject 

line. 


jbell on DSKJLSW7X2PROD with NOTICES
650 Federal Register / Vol. 86, No. 3 / Wednesday, January 6, 2021 / Notices 

26 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 90085 

(October 2, 2020), 85 FR 63603 (October 8, 2020) 

(SR–NYSEAMER–2020–69) (‘‘SR–NYSEAMER– 

2020–69’’). 

5The Exchange may submit a separate rule filing 

to extend the expiration date of the proposed 

extension beyond April 30, 2021 if the Exchange 

requires additional temporary relief from the rule 

requirements identified in SR–NYSEAMER–2020– 

69. The amended NYSE American rules will revert 

back to their original state at the conclusion of the 

temporary relief period and any extension thereof. 

6See Securities Exchange Act Release Nos. 77241 

(February 26, 2016), 81 FR 11311 (March 3, 2016) 

(SR–NYSEMKT–2016–30) (‘‘2016 Notice’’). 

7See NYSE MKT Information Memorandum 16– 

02 (March 14, 2016). 

8See 2016 Notice, 81 FR at 11327 & 11332. 

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–NYSEArca–2020–116. 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, on business days 

between the hours of 10:00 a.m. and 

3:00 p.m., located at 100 F Street NE, 

Washington, DC 20549. 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–NYSEArca–2020–116 and 

should be submitted on or before 

February 22, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–29211 Filed 1–5–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90823; File No. SR– 

NYSEAMER–2020–88] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Extending the Expiration 

Date of the Temporary Amendments to 

Rules 9261 and 9830 as Set Forth in 

SR–NYSEAMER–2020–69 From 

December 31, 2020, to April 30, 2021 

December 30, 2020. 

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

Securities Exchange Act of 1934 (‘‘Act’’ 

or ‘‘Exchange Act’’) 2 and Rule 19b–4 

thereunder,3 notice is hereby given that 

on December 22, 2020, NYSE American 

LLC (‘‘NYSE American’’ 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 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 extending the 

expiration date of the temporary 

amendments to Rules 9261 and 9830 as 

set forth in SR–NYSEAMER–2020–69 

from December 31, 2020, to April 30, 

2021, in conformity with recent changes 

by the Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’). The 

proposed rule change would not make 

any changes to the text of NYSE 

American Rules 9261 and 9830. 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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes extending the 

expiration date of the temporary 

amendments as set forth in SR– 

NYSEAMER–2020–69 4 to Rules 9261 

(Evidence and Procedure in Hearing) 

and 9830 (Hearing) from December 31, 

2020, to April 30, 2021 to harmonize 

with recent changes by FINRA to extend 

the expiration date of the temporary 

amendments to its Rules 9261 and 9830. 

SR–NYSEAMER–2020–69 temporarily 

granted to the Chief or Deputy Chief 

Hearing Officer the authority to order 

that hearings be conducted by video 

conference if warranted by public health 

risks posed by in-person hearings 

during the ongoing COVID–19 

pandemic. The proposed rule change 

would not make any changes to the text 

of Exchange Rules 9261 and 9830.5

Background 

In 2016, NYSE American (then known 

as NYSE MKT LLC) adopted 

disciplinary rules that are, with certain 

exceptions, substantially the same as the 

Rule 8000 Series and Rule 9000 Series 

of FINRA and its affiliate the New York 

Stock Exchange LLC (‘‘NYSE’’), and 

which set forth rules for conducting 

investigations and enforcement actions.6

The NYSE American disciplinary rules 

were implemented on April 15, 2016.7

In adopting disciplinary rules 

modeled on FINRA’s rules, NYSE 

American adopted the hearing and 

evidentiary processes set forth in Rule 

9261 and in Rule 9830 for hearings in 

matters involving temporary and 

permanent cease and desist orders 

under the Rule 9800 Series. As adopted, 

the text of Rule 9261 and Rule 9830 are 

substantially the same as the FINRA 

rules with certain modifications.8


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