Federal Register / Vol. 88, No. 191 / Wednesday, October 4, 2023 / Notices 68857 

28 17 CFR 200.30–3(a)(57). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4For purposes of this filing, Nasdaq and Nasdaq 

BX are referred to collectively as the ‘‘Nasdaq 

Exchanges.’’ Nasdaq General 2, Section 6(a) and 

Nasdaq BX General 2, Section 6(a) are referred to 

collectively as the ‘‘Nasdaq Exchanges’ Rules.’’ 

5Under the Exchange’s rules, the term member 

organization encompasses both equity permit 

holders (ETP Holders) and options permit holders 

(ATP Holders). See Rule 1.1E(n) (ETP Holder 

‘‘means a member organization that has been issued 

an ETP’’); Rule 900.2NY(5) (ATP Holder refers to a 

natural person, sole proprietorship, partnership, 

corporation, limited liability company or other 

organization, in good standing, that has been issued 

an ATP, and references to member, member 

organization as those terms are used in the Rules 

of the Exchange are deemed references to ATP 

Holders. ATP Holders have status as a ‘‘member’’ 

of the Exchange as that term is defined in Section 

3 of the Act). By way of comparison, FINRA uses 

the term ‘‘member’’ in its rules and NYSE uses the 

term ‘‘member organization.’’ 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

should be submitted by November 8, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–21956 Filed 10–3–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98598; File No. SR– 

NYSEAMER–2023–47] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rule 0 of the 

General and Floor Rules 

September 28, 2023. 

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 

September 27, 2023, the NYSE 

American LLC (‘‘NYSE American’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘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 amend 

Rule 0 (Regulation of the Exchange and 

its Member Organizations) of the 

General and Floor Rules to adopt new 

rule text based on based on [sic] Rule 0 

(Regulation of the Exchange and its 

Member Organizations) of its affiliate 

New York Stock Exchange LLC. 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Rule 0 (Regulation of the Exchange and 

its Member Organizations) of the 

General and Floor Rules to adopt new 

rule text based on Rule 0 (Regulation of 

the Exchange and its Member 

Organizations) of its affiliate New York 

Stock Exchange LLC (‘‘NYSE’’). 

Specifically, the Exchange proposes a 

new subsection (d) in conformity with 

NYSE Rule 0(b). NYSE Rule 0(b) is in 

turn based on FINRA Rule 0140(a) 

(Applicability), Nasdaq Stock Market 

LLC (‘‘Nasdaq’’) General 2 (Organization 

and Administration), Section 6(a), and 

Nasdaq BX, Inc. (‘‘Nasdaq BX’’) General 

2 (Organization and Administration), 

Section 6(a).4

NYSE Rule 0(b) provides that the 

NYSE’s rules apply to all member 

organizations and persons associated 

with a member organization and that 

persons associated with a member 

organization shall have the same duties 

and obligations as a member 

organization under the NYSE’s rules. 

NYSE Rule 0(b) mirrors FINRA Rule 

0140(a) and the versions of FINRA Rule 

0140(a) adopted by the Nasdaq 

Exchanges, which similarly provide that 

the rules of those self-regulatory 

organizations, as applicable, apply to all 

members and persons associated with a 

member and that persons associated 

with a member shall have the same 

duties and obligations as a member 

under such rules.5 Proposed Rule 0(d) is 

substantively identical to NYSE Rule 

0(b). 

The Exchange believes that the 

proposed rule change would improve 

the clarity of the Exchange’s rules by 

reflecting that the Exchange’s rules 

apply to persons associated with a 

member organization and that such 

persons have the same duties and 

obligations as their Exchange member 

organization employer. A member 

organization’s compliance with 

Exchange rules may depend on the 

actions of persons associated with the 

member organization. Accordingly, the 

Exchange believes that the proposed 

rule, which mirrors the rules of its 

affiliate NYSE, FINRA and the Nasdaq 

Exchanges, would promote consistency 

in the Exchange’s rules by expressly 

providing that the Exchange may 

enforce its rules with respect to persons 

associated with a member organization, 

including by taking appropriate 

disciplinary action against such persons 

for their or their member firm’s 

violation of NYSE American rules. The 

Exchange notes that the proposed rule 

does not contemplate disciplinary 

action against individuals not involved 

in violations of Exchange rules. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the Act,6

in general, and furthers the objectives of 

Section 6(b)(5),7 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 Exchange believes that the 

proposed rule change would remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest because the proposed changes 

would add clarity to the Exchange’s 

rules. As previously noted, the proposed 

rule text conforms to current NYSE Rule 

0(b) without change. The Exchange 

believes that adopting separate rule text 

expressly providing that all Exchange 

rules apply to persons associated with a 

member organization and that such 

persons have the same duties and 


lotter on DSK11XQN23PROD with NOTICES1
68858 Federal Register / Vol. 88, No. 191 / Wednesday, October 4, 2023 / Notices 

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

9 15 U.S.C. 78f(b)(1). 

10 15 U.S.C. 78f(b)(1). 

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) 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 15 U.S.C. 78s(b)(2)(B). 14 17 CFR 200.30–3(a)(12). 

obligations as their Exchange member 

organization employer would benefit 

market participants by providing 

increased clarity regarding the 

Exchange’s ability to enforce 

compliance with its rules by persons 

associated with a member organization, 

thereby reducing any potential 

confusion with respect to the 

Exchange’s interpretation or application 

of its rules. Adding these clarifying 

statements to the Exchange’s rules 

would also further the goals of 

transparency and consistency across the 

Exchange’s rules and would provide 

greater harmonization between 

Exchange rules and the rules of NYSE, 

FINRA and the Nasdaq Exchanges, 

resulting in less burdensome and more 

efficient regulatory compliance. For the 

same reasons, the addition of the 

proposed rule text would protect 

investors and the public interest and 

would therefore be consistent with 

Section 6(b)(5) 8 of the Act. The 

proposed rule change would 

accordingly 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. 

Finally, the Exchange believes that 

the proposed change would be 

consistent with Section 6(b)(1) 9 of the 

Act because it would provide increased 

clarity regarding the Exchange’s ability 

to enforce compliance with its rules by 

persons associated with a member 

organization, thereby reducing any 

potential confusion with respect to the 

Exchange’s interpretation or application 

of its rules. As such, the proposed 

change would enable the Exchange to be 

so organized as to have the capacity to 

be able to enforce compliance by its 

exchange members and persons 

associated with its exchange members 

with the provisions of the Act, the rules 

and regulations thereunder, and the 

rules of the Exchange, consistent with 

Section 6(b)(1) 10 of the Act. 

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. The 

proposed rule change is not intended to 

address competitive issues but rather is 

concerned solely with adding clarity 

and transparency to the Exchange’s 

rules and providing greater 

harmonization with the rules of its 

affiliate NYSE and the approved rules of 

FINRA and the Nasdaq Exchanges. 

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 11 and Rule 

19b–4(f)(6) 12 thereunder. 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. 

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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 13 of the Act 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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSEAMER–2023–47 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–2023–47. 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 (https://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 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NYSEAMER–2023–47 and should 

be submitted on or before October 25, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–21941 Filed 10–3–23; 8:45 am] 

BILLING CODE 8011–01–P 


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