Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices 8955 

31 Id. 

32 15 U.S.C. 78q–1. 

33 15 U.S.C. 78s(b)(2). 

34 In approving the proposed rule change, the 

Commission considered its impact on efficiency, 

competition, and capital formation. 15 U.S.C. 78c(f). 

35 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 89028 

(June 8, 2020), 85 FR 35967. Comments on the 

proposed rule change can be found at: https://

www.sec.gov/comments/sr-nasdaq-2020-026/ 

srnasdaq2020026.htm. 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 89342, 

85 FR 44951 (July 24, 2020). The Commission 

designated September 10, 2020 as the date by which 

the Commission shall approve or disapprove, or 

institute proceedings to determine whether to 

approve or disapprove, the proposed rule change. 

6Amendment No. 1 is available at https://

www.sec.gov/comments/sr-nasdaq-2020-026/ 

srnasdaq2020026-7677529-222672.pdf. 

7 15 U.S.C. 78s(b)(2)(B). 

8See Securities Exchange Act Release No. 89794, 

85 FR 57260 (September 15, 2020). 

9Amendment No. 2 is available at: https://

www.sec.gov/comments/sr-nasdaq-2020-026/ 

srnasdaq2020026-8048419-225740.pdf. 

10See Securities Exchange Act Release No. 90553, 

85 FR 79062 (December 8, 2020). 

11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

markets it serves, consistent with Rule 

17Ad–22(e)(21) under the Act.31

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the proposed 

rule changes are consistent with the 

requirements of the Act and in 

particular with the requirements of 

Section 17A of the Act 32 and the rules 

and regulations promulgated 

thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act 33 that 

proposed rule change SR–DTC–2020– 

019, be, and hereby is, approved.34

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.35

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02712 Filed 2–9–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91057; File No. SR– 

NASDAQ–2020–026] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Withdrawal of a Proposed Rule 

Change, as Modified by Amendment 

Nos. 1 and 2, To Adopt a New 

Requirement Related to the 

Qualification of Management for 

Companies From Restrictive Markets 

February 4, 2021. 

On May 29, 2020, The Nasdaq Stock 

Market LLC (‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

adopt a new requirement related to the 

qualification of management for 

companies whose business is 

principally administered in a 

jurisdiction that has secrecy laws, 

blocking statutes, national security laws, 

or other laws or regulations restricting 

access to information by regulators of 

U.S.-listed companies. The proposed 

rule change was published for comment 

in the Federal Register on June 12, 

2020.3 On July 20, 2020, pursuant to 

Section 19(b)(2) of the Act,4 the 

Commission designated a longer period 

within which to approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 

determine whether to disapprove the 

proposed rule change.5 On August 21, 

2020, the Exchange filed Amendment 

No. 1 to the proposed rule change, 

which replaced and superseded the 

proposed rule change as originally 

filed.6 On September 9, 2020, the 

Commission published notice of 

Amendment No. 1 and instituted 

proceedings under Section 19(b)(2)(B) of 

the Act 7 to determine whether to 

approve or disapprove the proposed 

rule change, as modified by Amendment 

No. 1.8 On November 17, 2020, the 

Exchange filed Amendment No. 2 to the 

proposed rule change.9 On December 2, 

2020, the Commission extended the 

period for consideration of the proposed 

rule change to February 7, 2021.10 On 

February 1, 2021, the Exchange 

withdrew the proposed rule change 

(SR–NASDAQ–2020–026). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02708 Filed 2–9–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91060; File No. SR–Phlx– 

2021–05] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Phlx Rules 

February 4, 2021. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 

26, 2021, Nasdaq PHLX LLC (‘‘Phlx’’ or 

‘‘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 to amend 

Phlx Rules at Options 1, Section 1, 

‘‘Applicability, Definitions and 

References’’; Options 2, Section 4, 

‘‘Obligations of Market Makers’’; 

Options 2, Section 6, ‘‘Market Maker 

Orders’’; Options 3, Section 6, ‘‘Firm 

Quotations’’; Options 3, Section 7, 

‘‘Types of Orders and Order and Quote 

Protocols’’; Options 3, Section 10, 

‘‘Electronic Execution Priority and 

Processing in the System’’; Options 3, 

Section 13, ‘‘Price Improvement XL 

(‘‘PIXL’’)’’; Options 3, Section 15, 

‘‘Simple Order Risk Protections’’; 

Options 3, Section 23, ‘‘Data Feeds and 

Trade Information’’; Options 5, Section 

4, ‘‘Order Routing’’; Options 8, Section 

2, ‘‘Definitions’’; and Options 8, Section 

32, ‘‘Types of Floor-Based (Non-System) 

Orders’’. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/phlx/rules, 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 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the