Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices 12501 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See note 5, infra. 

PLACE: The meeting will be conducted 

by remote means and/or at the 

Commission’s headquarters, 100 F St. 

NE, Washington, DC 20549. Members of 

the public may watch the webcast of the 

meeting on the Commission’s website at 

www.sec.gov. 

STATUS: This Sunshine Act notice is 

being issued because a majority of the 

Commission may attend the meeting. 

On February 17, 2021, the Commission 

published notice of the Committee 

meeting (Release Nos. 33–10927, 34– 

91150), indicating that the meeting is 

open to the public and inviting the 

public to submit written comments to 

the Committee. 

MATTER TO BE CONSIDERED: The 

agenda for the meeting includes: 

Welcome remarks; approval of previous 

meeting minutes; a follow-on panel 

discussion regarding self-directed 

individual retirement accounts (IRAs); a 

panel discussion regarding special 

purpose acquisition companies (SPACs); 

a discussion of a recommendation 

regarding minority and underserved 

inclusion; a discussion of a 

recommendation regarding credit rating 

agencies; subcommittee reports; and a 

non-public administrative session. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information and to ascertain 

what, if any, matters have been added, 

deleted or postponed; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

Dated: March 1, 2021. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2021–04490 Filed 3–1–21; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91214; File No. 265–33] 

Asset Management Advisory 

Committee 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Notice of meeting. 

SUMMARY: Notice is being provided that 

the Securities and Exchange 

Commission Asset Management 

Advisory Committee (‘‘AMAC’’) will 

hold a public meeting on March 19, 

2021, by remote means. The meeting 

will begin at 9 a.m. (ET) and will be 

open to the public via webcast on the 

Commission’s website at www.sec.gov. 

Persons needing special 

accommodations to take part because of 

a disability should notify the contact 

person listed below. The public is 

invited to submit written statements to 

the Committee. The meeting will 

include a discussion of matters in the 

asset management industry relating to: 

(1) The ESG Subcommittee, including a 

panel discussion on that 

Subcommittee’s potential 

recommendations of December 1, 2020; 

(2) the Diversity & Inclusion and Private 

Investments Subcommittees, including 

potential recommendations from those 

Subcommittees; and (3) AMAC’s agenda 

for 2021. 

DATES: The public meeting will be held 

on March 19, 2021. Written statements 

should be received on or before March 

15, 2021. 

ADDRESSES: The meeting will be held by 

remote means and webcast on 

www.sec.gov. Written statements may be 

submitted by any of the following 

methods. To help us process and review 

your statement more efficiently, please 

use only one method. At this time, 

electronic statements are preferred. 

Electronic Statements 

• Use the Commission’s internet 

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

rules/other.shtml); or 

• Send an email message to rulecomments@sec.gov. Please include File 

Number 265–33 on the subject line; or 

Paper Statements 

• Send paper statements to Vanessa 

Countryman, Federal Advisory 

Committee Management Officer, 

Securities and Exchange Commission, 

100 F Street NE, Washington, DC 

20549–1090. 

All submissions should refer to File No. 

265–33. This file number should be 

included on the subject line if email is 

used. The Commission will post all 

statements on the Commission’s website 

at (http://www.sec.gov/comments/265- 

33/265-33.htm). 

Statements also will be available for 

website viewing and printing in the 

Commission’s Public Reference Room, 

100 F Street NE, Room 1580, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. For up-to-date 

information on the availability of the 

Public Reference Room, please refer to 

https://www.sec.gov/fast-answers/ 

answerspublicdocshtm.html or call 

(202) 551–5450. 

All statements received will be posted 

without change. Persons submitting 

comments are cautioned that we do not 

redact or edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. 

FOR FURTHER INFORMATION CONTACT: 

Christian Broadbent, Senior Special 

Counsel, or Jay Williamson, Branch 

Chief, at (202) 551–6720, Division of 

Investment Management, Securities and 

Exchange Commission, 100 F Street NE, 

Washington, DC 20549–3628. 

SUPPLEMENTARY INFORMATION: In 

accordance with Section 10(a) of the 

Federal Advisory Committee Act, 5 

U.S.C.-App. 1, and the regulations 

thereunder, Sarah ten Siethoff, 

Designated Federal Officer of the 

Committee, has ordered publication of 

this notice. 

Dated: February 26, 2021. 

Vanessa A. Countryman, 

Committee Management Officer. 

[FR Doc. 2021–04394 Filed 3–2–21; 8:45 am] 

BILLING CODE P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91210; File No. SR– 

NYSEArca–2021–14] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Regarding the Listing 

and Trading Rule for Shares of the 

Alger 25 ETF 

February 25, 2021. 

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 February 

22, 2021, NYSE Arca, Inc. (‘‘NYSE 

Arca’’ 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 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 update 

certain representations regarding the 

Alger 25 ETF (the ‘‘Fund’’). The 

Securities and Exchange Commission 

(‘‘Commission’’) has approved listing 

and trading of shares of the Fund on the 

Exchange under NYSE Arca Rule 8.900– 

E (Managed Portfolio Shares).4 Shares of 

the Fund have not commenced listing 

and trading on the Exchange. The 


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12502 Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices 

5See Securities Exchange Act Release No. 90528 

(November 30, 2020), 85 FR 78389 (December 4, 

2020) (SR–NYSEArca–2020–80) (Order Approving a 

Proposed Rule Change, as Modified by Amendment 

No. 2, to List and Trade Shares of Alger Mid Cap 

40 ETF and Alger 25 ETF under NYSE Arca Rule 

8.900–E) (the ‘‘Prior Order’’); see also Amendment 

No. 2 to SR–NYSEArca–2020–80, available at 

https://www.sec.gov/comments/sr-nysearca-2020- 

80/srnysearca202080-7985015-225090.pdf (the 

‘‘Prior Filing’’). 

6NYSE Arca Rule 8.900–E provides that a 

Managed Portfolio Share is security that (a) 

represents an interest in an investment company 

registered under the Investment Company Act of 

1940 (‘‘Investment Company’’) organized as an 

open-end management investment company that 

invests in a portfolio of securities selected by the 

Investment Company’s investment adviser 

consistent with the Investment Company’s 

investment objectives and policies; (b) is issued in 

a Creation Unit, or multiples thereof, in return for 

a designated portfolio of instruments (and/or an 

amount of cash) with a value equal to the next 

determined net asset value and delivered to the 

Authorized Participant (as defined in the 

Investment Company’s Form N–1A filed with the 

Commission) through a Confidential Account; (c) 

when aggregated into a Redemption Unit, or 

multiples thereof, may be redeemed for a 

designated portfolio of instruments (and/or an 

amount of cash) with a value equal to the next 

determined net asset value delivered to the 

Confidential Account for the benefit of the 

Authorized Participant; and (d) the portfolio 

holdings for which are disclosed within at least 60 

days following the end of every fiscal quarter. 

7The Trust is registered under the Investment 

Company Act of 1940 (the ‘‘1940 Act’’). On August 

17, 2020, the Trust filed a registration statement on 

Form N–1A under the Securities Act of 1933 (the 

‘‘1933 Act’’) and the 1940 Act for the Alger Mid Cap 

40 ETF and the Alger 25 ETF (File No. 811–23603). 

On February 19, 2021, the Trust filed an amended 

registration statement on Form N–1A under the 

1933 Act and 1940 Act for the Alger Mid Cap 40 

ETF and the Alger 35 ETF (File Nos. 811–23603 and 

333–248085) (the ‘‘Registration Statement’’). In 

response to the Trust’s application for exemptive 

relief (File No. 812–15117), the Commission issued 

an order granting such relief to the Trust under the 

1940 Act on May 19, 2020 (Investment Company 

Act Release No. 33869). The description of the 

operation of the Trust and the Alger 35 ETF, 

formerly known as the Alger 25 ETF, herein is 

based, in part, on the Registration Statement. The 

Exchange will not commence trading in shares of 

the Alger 35 ETF until the Registration Statement 

is effective. 

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

9 15 U.S.C. 78s(b)(3)(A)(iii). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Commission has approved a 

proposed rule change relating to listing 

and trading on the Exchange of shares 

(‘‘Shares’’) of the Fund under NYSE 

Arca Rule 8.900–E,5 which governs the 

listing and trading of Managed Portfolio 

Shares on the Exchange.6 The Shares of 

the Fund were to be issued by The Alger 

ETF Trust (the ‘‘Trust’’), which is 

registered with the Commission as an 

open-end management investment 

company.7 Shares of the Fund have not 

commenced listing and trading on the 

Exchange. 

The Exchange proposes to update two 

representations made in the Prior Filing 

and the Prior Order relating to the Fund. 

The Exchange proposes to (1) update the 

name of the Fund to the Alger 35 ETF 

and (2) update the number of holdings 

that the Fund will generally own to 

approximately 35, rather than 

approximately 25 as represented in the 

Prior Filing. The Prior Filing 

represented that the Fund’s primary 

objective is to seek long-term capital 

appreciation and that the Fund will 

primarily invest in equity securities of 

growth companies of any market 

capitalization listed on U.S. exchanges, 

including common or preferred stocks, 

and these representations are 

unchanged with respect to the Alger 35 

ETF. The Alger 35 ETF will differ from 

the Fund only in that it will generally 

own approximately 35 holdings, instead 

of approximately 25 holdings. 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b)(5) 8 that an exchange 

have rules that are designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to remove 

impediments to, and perfect the 

mechanism of a free and open market 

and, in general, to protect investors and 

the public interest. 

This proposed rule change merely 

updates the name of the Fund and the 

approximate number of holdings that 

the Fund will own, in accordance with 

the Registration Statement. Other than 

this proposed change, all statements in 

the Prior Filing remain unchanged, 

including that the Alger 35 ETF will 

have the same investment objectives as 

the Fund and will invest in the same 

types of securities as the Fund. 

Accordingly, the Exchange believes that 

this proposed rule change raises no 

novel regulatory issues. 

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 purpose of the Act. The proposed 

change does not introduce a new 

product, but rather proposes to update 

representations regarding the Fund that 

would not impose any burden on 

competition 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 

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 9 and Rule 

19b–4(f)(6) thereunder.10 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 

prior to 30 days from the date on which 

it was filed, 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) 11 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),12 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 proposal may 

become operative immediately upon 

filing to accommodate the listing and 

trading of the Shares of the Alger 35 


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Federal Register / Vol. 86, No. 40 / Wednesday, March 3, 2021 / Notices 12503 

13For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

14 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. 90883 

(January 11, 2021), 86 FR 4158. 

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

5 15 U.S.C. 78s(b)(2). 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

ETF on the Exchange prior to 30 days 

after the date of the filing. The Shares 

of the Fund have not yet commenced 

listing and trading, and the proposed 

changes to the rule governing their 

listing and trading raise no novel or 

regulatory issues. For these reasons, the 

Commission believes that waiver of the 

operative delay is consistent with the 

protection of investors and the public 

interest, and the Commission hereby 

waives the 30-day operative delay and 

designates the proposed rule change to 

be operative upon filing.13

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. 

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–2021–14 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–NYSEArca–2021–14. 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–NYSEArca–2021–14 and 

should be submitted on or before March 

24, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–04308 Filed 3–2–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91212; File No. SR– 

NASDAQ–2020–100] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Designation of a Longer Period for 

Commission Action on a Proposed 

Rule Change To Modify the Quorum 

Requirement for Non-U.S. Companies 

Under Certain Limited Circumstances 

February 25, 2021. 

On December 31, 2020, the Nasdaq 

Stock Market LLC 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 

modify the quorum requirement 

applicable to a non-U.S. company where 

such company’s home country law is in 

direct conflict with Nasdaq’s quorum 

requirement. The proposed rule change 

was published for comment in the 

Federal Register on January 15, 2021.3

The Commission has received no 

comment letters on 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 propose 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 published 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 the 

proposed rule change is March 1, 2021. 

The Commission is extending this 45- 

day period. 

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 April 15, 2021, 

as the date by which the Commission 

shall either approve or disapprove, or 

institute proceedings to determine 

whether to approve or disapprove, the 

proposed rule change (File No. SR– 

NASDAQ–2020–100). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–04310 Filed 3–2–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91208; File No. SR– 

NASDAQ–2021–009] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing of Proposed Rule Change To 

Amend Rule 4754 Relating to the LimitUp Limit-Down Closing Cross 

February 25, 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 

11, 2021, The Nasdaq Stock Market LLC 

(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 


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