10608 Federal Register / Vol. 86, No. 33 / Monday, February 22, 2021 / Notices 

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

2 17 CFR 240.19b–4. 

distribute long-term gains more than 

once every twelve months. Rule 19b– 

1(c), under certain circumstances, 

exempts a UIT investing in eligible trust 

securities (as defined in rule 14a–3) 

from the requirements of rule 19b–1. 

Because the Structured Series do not 

limit their investments to eligible trust 

securities, however, the Structured 

Series will not qualify for the exemption 

in paragraph (c) of rule 19b–1. 

Applicants therefore request an 

exemption under section 6(c) from 

section 19(b) and rule 19b–1 to the 

extent necessary to permit capital gains 

earned in connection with the sale of 

portfolio securities to be distributed to 

Unitholders along with the Structured 

Series’ regular distributions. In all other 

respects, applicants will comply with 

section 19(b) and rule 19b–1. 

2. Applicants state that their proposal 

meets the standards of section 6(c). 

Applicants assert that any sale of 

portfolio securities would be triggered 

by the need to meet Trust expenses, 

Installment Payments, or by redemption 

requests, events over which the 

Depositor and the Structured Series do 

not have control. Applicants further 

state that, because principal 

distributions must be clearly indicated 

in accompanying reports to Unitholders 

as a return of principal and will be 

relatively small in comparison to 

normal dividend distributions, there is 

little danger of confusion from failure to 

differentiate among distributions. 

Applicants’ Conditions 

Applicants agree that any order 

granting the requested relief will be 

subject to the following conditions: 

A. DSC Relief and Exchange and 

Rollover Options 

1. Whenever the Exchange Option or 

Rollover Option is to be terminated or 

its terms are to be amended materially, 

any holder of a security subject to that 

privilege will be given prominent notice 

of the impending termination or 

amendment at least 60 days prior to the 

date of termination or the effective date 

of the amendment, provided that: (a) No 

such notice need be given if the only 

material effect of an amendment is to 

reduce or eliminate the sales charge 

payable at the time of an exchange, to 

add one or more new Series eligible for 

the Exchange Option or the Rollover 

Option, or to delete a Series which has 

terminated; and (b) no notice need be 

given if, under extraordinary 

circumstances, either (i) there is a 

suspension of the redemption of Units 

of the Series under section 22(e) of the 

Act and the rules and regulations 

promulgated thereunder, or (ii) a Series 

temporarily delays or ceases the sale of 

its Units because it is unable to invest 

amounts effectively in accordance with 

applicable investment objectives, 

policies and restrictions. 

2. An investor who purchases Units 

under the Exchange Option or Rollover 

Option will pay a lower sales charge 

than that which would be paid for the 

Units by a new investor. 

3. The prospectus of each Series 

offering exchanges or rollovers and any 

sales literature or advertising that 

mentions the existence of the Exchange 

Option or Rollover Option will disclose 

that the Exchange Option and the 

Rollover Option are subject to 

modification, termination or suspension 

without notice, except in certain limited 

cases. 

4. Any DSC imposed on a Series’ 

Units will comply with the 

requirements of subparagraphs (1), (2) 

and (3) of rule 6c–10(a) under the Act. 

5. Each Series offering Units subject to 

a DSC will include in its prospectus the 

disclosure required by Form N–1A 

relating to deferred sales charges 

(modified as appropriate to reflect the 

differences between UITs and open-end 

management investment companies) 

and a schedule setting forth the number 

and date of each Installment Payment. 

B. Net Worth Requirement 

Applicants will comply in all respects 

with the requirements of rule 14a–3 

under the Act, except that the 

Structured Series will not restrict their 

portfolio investments to ‘‘eligible trust 

securities.’’ 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–03455 Filed 2–19–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91138; File No. SR– 

NASDAQ–2021–008] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend 

Equity 4, Rule 4759 

February 16, 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 February 

3, 2021, The Nasdaq Stock Market LLC 

(‘‘Nasdaq’’ or ‘‘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 to amend 

Equity 4, Rule 4759 (Data Feeds 

Utilized) to change the primary and 

secondary source of quotation data of 

certain market centers in the list of 

proprietary and network processor feeds 

that the Exchange utilizes for the 

handling, routing, and execution of 

orders as well as regulatory compliance 

processes related to those functions. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/nasdaq/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 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

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

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to update and 

amend the data feeds table in Equity 4, 

Rule 4759, which sets forth on a marketby-market basis the specific proprietary 

and network processor feeds that the 

Exchange utilizes for the handling, 

routing, and execution of orders, and for 

performing the regulatory compliance 

processes related to each of those 

functions. Specifically, the table would 

be amended to reflect that the Exchange 

will receive a direct feed from MIAX 

PEARL, LLC (‘‘MIAX PEARL’’) and 

MEMX LLC (‘‘MEMX’’) as its primary 


tkelley on DSKBCP9HB2PROD with NOTICES
Federal Register / Vol. 86, No. 33 / Monday, February 22, 2021 / Notices 10609 

3 15 U.S.C. 78f(b). 

4 15 U.S.C. 78f(b)(5). 

5 15 U.S.C. 78s(b)(3)(A). 

6 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. 7 17 CFR 200.3–3(a)(12). 

quotation data source and CQS/UQDF 

will become its secondary data source 

for the handling, routing and execution 

of orders and for performing regulatory 

compliance processes related to each of 

those functions. The change to the 

primary sources reflects the Exchange’s 

effort to include an additional source 

and the use of secondary sources in the 

event the primary source is unable to 

provide data. 

The Exchange proposes to implement 

the proposed rule change no later than 

ninety (90) days following the effective 

date of the proposed rule change. The 

Exchange notes this additional time 

gives the Exchange time to configure its 

system accordingly. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,3 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,4

in particular, in that it is designed to 

promote just and equitable principles of 

trade, 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 the 

proposed rule change removes 

impediments to and perfects the 

mechanism of a free and open market 

because updating its data feeds table of 

market centers for which the exchange 

consumes quotation data through a 

direct feed will provide clarity to market 

participants. Additionally, it is 

necessary and consistent with the 

public interest and the protection of 

investors to update the Exchange’s table 

of market centers in Equity 4, Rule 4759 

in order to provide transparency with 

respect to all the direct proprietary and 

network processor feeds from which the 

Exchange obtains market data. 

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 not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change is not designed to 

address any competitive issue; instead, 

its purpose is to enhance transparency 

with respect to the operation of the 

Exchange and its use of market data 

feeds. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

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 5 and Rule 19b– 

4(f)(6) thereunder.6

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. 

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– 

NASDAQ–2021–008 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–NASDAQ–2021–008. 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–NASDAQ–2021–008 and 

should be submitted on or before March 

15, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–03461 Filed 2–19–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2:30 p.m. on Thursday, 

February 25, 2021. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 


tkelley on DSKBCP9HB2PROD with NOTICES