74544 Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 77241 

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

(SR–NYSEMKT–2016–30) (‘‘Release No. 77241’’) 

(Notice of Filing and Immediate Effectiveness of 

Proposed Rule Change Adopting Investigation, 

Disciplinary, Sanction, and Other Procedural Rules 

Modeled on the Rules of the New York Stock 

Exchange LLC and Certain Conforming and 

Technical Changes). 4See id., 81 FR at 11318. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98798; File No. SR– 

NYSEAMER–2023–49] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Delete Legacy Disciplinary 

Rules 475, 476, 476A, and 477 and 

Make Conforming Changes to Rule 41, 

Rules 8001, 8130(d), 8320(d), 9001, 

9216(b)(1), 9810(a), and 781 of the 

Office Rules, Rules 2A, 12E, 3170(a)(3), 

902NY and Adopt a New Rule 600 and 

Make Conforming Changes to Rules 

3170(C)(3), and Adopt a New Rule 601 

October 25, 2023. 

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 October 

13, 2023, 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 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 (1) delete 

legacy disciplinary Rules 475, 476, 

476A, and 477 of the Office Rules as 

obsolete and make conforming changes 

to Rule 41 of the General Rules, Rules 

8001, 8130(d), 8320(d), 9001, 9216(b)(1), 

9810(a), and 781 of the Office Rules, 

Rules 2A, 12E, and 3170(a)(3) of the 

Equities Rules, and Rule 902NY of the 

Options Rules; (2) adopt a new Rule 600 

of the Office Rules incorporating the 

substantive violations currently in Rule 

476(a) without change and make 

conforming changes to Rules 

3170(C)(3)—Equities and 9217 of the 

Office Rules; and (3) adopt a new Rule 

601 of the Office Rules similar to Cboe 

Exchange, Inc. Rule 13.11, 

Supplementary Material .01. 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 to (1) delete 

legacy disciplinary Rules 475, 476, 

476A, and 477 of the Office Rules as 

obsolete and make conforming changes 

to Rule 41 of the General Rules, Rules 

8001, 8130(d), 8320(d), 9001, 9216(b)(1), 

9810(a), and 781 of the Office Rules, 

Rules 2A, 12E, and 3170(a)(3) of the 

Equities Rules, and Rule 902NY of the 

Options Rules; (2) adopt a new Rule 600 

of the Office Rules incorporating the 

substantive violations currently in Rule 

476(a) without change and make 

conforming changes to Rules 

3170(C)(3)—Equities and 9217 of the 

Office Rules; and (3) adopt a new Rule 

601 of the Office Rules setting forth 

sanctions guidelines similar to Cboe 

Exchange, Inc. (‘‘Cboe’’) Rule 13.11 

(Judgment and Sanctions), 

Supplementary Material .01. 

Background and Proposed Rule Change 

In 2016, the Exchange adopted rules 

relating to investigation, discipline, and 

sanctions, and other procedural rules 

based on the rules of its affiliate New 

York Stock Exchange LLC and the 

Financial Industry Regulatory Authority 

(‘‘FINRA’’).3 The Exchange represented 

in that filing that when the transition to 

the new disciplinary rules was complete 

and there were no longer any member 

organizations or persons subject to 

Rules 475, 476, 476A, and 477 of the 

Office Rules, the Exchange would 

submit a proposed rule change that 

would delete such rules (except for the 

listed offenses under Rule 476(a)).4 The 

Exchange represents that the transition 

to the new disciplinary rules is 

complete and there are no longer any 

member organizations or persons 

subject to Rules 475, 476, 476A, and 

477, and that those rules can therefore 

be deleted as obsolete. 

The Exchange proposes conforming 

changes to the following rules that 

contain references to one or more of the 

rules proposed to be deleted: 

General Rules 

• Rule 41 (Failure to Pay Exchange 

Fees) 

Office Rules 

• Rule 9216(b)(1) (Acceptance, Waiver, 

and Consent; Procedure for 

Imposition of Fines for Minor 

Violation(s) of Rules) 

• Rule 9810(a) (Initiation of 

Proceeding), and 

• Rule 781 (Insolvency) 

Equities Rules 

• Rules 2A (Jurisdiction) 

• Rule 12E (Arbitration), and 

• Rule 3170(a)(3) (Tape Recording of 

Registered Persons by Certain Firms) 

Options Rules 

• Rule 902NY (Admission and Conduct 

on the Options Trading Floor) 

The following rules in the General 

Rules reflecting the transition from the 

legacy disciplinary rules to the current 

rule set would be deleted in their 

entirety: 

• Rule 8130(d) (Retention of 

Jurisdiction); 

• Rule 8320(d) (Payment of Fines, 

Other Monetary Sanctions, or Costs; 

Summary Action for Failure to Pay); 

Rule 8001 (Effective Date of Rule 8000 

Series); and 

• Rule 9001 (Effective Date of Rule 

9000 Series). 

Section 9A of the Office Rules titled 

‘‘Legacy Disciplinary Rules’’ where 

Rules 475, 476, 476A, and 477 are 

currently set forth would also be 

deleted. 

Section 9B of the Office Rules where 

the Rule 8000 and Rule 9000 Series are 

currently set forth would become 

Section 10. The remaining headings— 

current Sections 10 (Advertising), 11 

(Wires and Other Means of 

Communication), 12 (Reports), 13 

(Secondary Distributions), 14 (Special 

Offerings and Special Bids), 15 

(Exchange Distributions and Exchange 

Acquisitions), and 16 (Proxies)—would 

be renumbered. 


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Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 74545 

5See Securities Exchange Act Release Nos. 45412 

(February 7, 2002), 67 FR 6770 (February 13, 2002) 

(Notice); 45566 (March 15, 2002), 67 FR 13379 

(March 22, 2002) (SR–Amex–2001–68) (Order). See 

generally Securities Exchange Act Release No. 

43268 (September 11, 2000), Administrative 

Proceeding File No. 3–10282. 

6See, e.g., Securities Exchange Act Release Nos. 

45427 (February 8, 2002), 67 FR 6958 (February 14, 

2002) (Notice); 45571 (March 15, 2002), 67 FR 

13382 (March 22, 2002) (SR–CBOE–2001–71) 

(Order Granting Accelerated Approval of Proposed 

Rule Change and Notice of Filing and Order 

Granting Accelerated Approval of Amendment No. 

1 Thereto by the Chicago Board Options Exchange, 

Inc. To Incorporate Certain Principal 

Considerations in Determining Sanctions and To 

Incorporate in the Exchange’s Minor Rule Violation 

Plan Violations of the Exchange’s Order Handling 

Rules). 

7These rules include former Rules 958A, 111, 

126, 155, 950, and 958. For instance, Rule 958A 

governing application of the firm quote rule was 

superseded by Rule 970NY in 2008 and deleted in 

2009. Similarly, Section 900NY replaced former 

Rules 950 (Rules of General Applicability) and 958 

(Options Transactions of Registered Traders) in 

2008 and were also deleted in 2009. See generally 

Securities Exchange Act Release No. 59472 

(February 27, 2009), 74 FR 9843 (March 6, 2009) 

(SR–NYSEALTR–2008–14) (Notice of Filing of 

Amendment No. 1 and Order Granting Accelerated 

Approval of the Proposed Rule Change, as Modified 

by Amendment No. 1 Thereto, To Establish Rules 

for the Trading of Listed Options); Securities 

Exchange Act Release No. 59454 (February 25, 

2009), 74 FR 9461 (March 9, 2009) (SR– 

NYSEALTR–2009–17) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

by NYSE Alternext U.S. LLC To Delete Certain 

Rules Governing the Trading of Listed Options). 

8For example, the guideline for Rule 16 

violations is $1,000 to $5,000. In 2013, a respondent 

consented to a $50,000 fine for a violation of Rule 

16. See SG Americas Securities (NYSE American 

Matter No. 13–NYSEMKT–4). In 2020, the fine for 

a similar violation was $95,000—nearly 20 times 

the top of the guideline range. See Citigroup Global 

Markets Inc. (NYSE American Matter No. 2017–11– 

00111). 

9See 67 FR at 6771. 

10See note 6, supra. 

11The Exchange proposes to add two terms to the 

definition of ‘‘Adjudicatory Bodies’’: ‘‘Extended 

Hearing Panels,’’ which are provided for in the 

Exchange’s disciplinary rules, and Chief Regulatory 

Officer (‘‘CRO’’), given the CRO’s role in the 

disciplinary and settlement processes. 

12See note 10, supra. 

Finally, Rule 478T, currently marked 

‘‘Deleted’’, would be removed as 

obsolete. 

In connection with the deletion of 

Rule 476, the Exchange also proposes 

two new Rules that would be located in 

a new Section 18 titled ‘‘Offenses and 

Sanctions Guidelines.’’ 

First, the Exchange would adopt new 

Rule 600 titled ‘‘Other Offenses’’ that 

would, consistent with its filing 

adopting its current disciplinary rules 

modeled on the NYSE and FINRA rules, 

retain the listed offenses in Rule 

476(a)(1)–(11) without substantive 

change. Proposed Rule 600 would 

provide that a member, member 

organization, principal executive, 

approved person, registered or nonregistered employee of a member or 

member organization or person 

otherwise subject to the jurisdiction of 

the Exchange violates the provisions of 

the Rule if it commits any of the 

enumerated offenses, which would be 

transposed from Rule 476(a) in the same 

order and without changes except for 

Rule 476(a)(8), which is marked 

‘‘Reserved.’’ The Exchange further 

proposes conforming changes to the 

following rules to replace references to 

Rule 476(a) with references to Rule 600: 

Rules 3170(C)(3)—Equities (Tape 

Recording of Registered Persons by 

Certain Firms) and Rule 9217 

(Violations Appropriate for Disposition 

Under Rule 9216(b)). 

Second, the Exchange would adopt 

new Rule 601 titled ‘‘Sanction 

Guidelines’’ that would incorporate 

sanctions guidelines similar to Cboe 

Rule 13.11, Supplementary Material .01, 

in place of the Sanction Guidelines in 

Rule 476, Supplementary Material .10. 

The current Sanction Guidelines in 

Rule 476.10 were adopted pursuant to 

the provisions of Section IV.B.i of the 

Commission’s September 11, 2000 

Order Instituting Administrative 

Proceedings Pursuant to Section 

19(h)(1) of the Act (the ‘‘2000 Order’’), 

which required the Exchange to adopt 

rules establishing, or modifying 

existing, sanctioning guidelines such 

that they are reasonably designed to 

effectively enforce compliance with 

options order handling rules, including 

the duty of best execution with respect 

to the handling of orders after the 

broker-dealer routes the order to such 

respondent exchange, limit order 

display, priority, firm quote, and trade 

reporting rules.5

Unlike other exchanges subject to the 

2000 Order,6 the Exchange incorporated 

specific fine ranges in its sanctions 

guidelines for violations (other than 

minor rule violations) setting forth the 

principal considerations to be applied to 

the resolution of disciplinary matters. 

The specific fine ranges incorporated 

into the guidelines have remained static 

and, in many instances, set forth 

recommended fine levels for rules that 

have been superseded and deleted.7 For 

the remaining operative rules, such as 

Rule 16 (Business Conduct), 995NY 

(Prohibited Conduct) and 975NY 

(Nullification and Adjustment of 

Options Transactions including Obvious 

Errors), the fine ranges have largely been 

eclipsed as the disciplinary landscape 

evolves.8 In short, the Exchange believes 

that, more than two decades after they 

were adopted, the monetary sanctions 

ranges are no longer necessary or useful 

in determining appropriate sanctions in 

a given case. 

The Exchange accordingly believes 

that adopting a new rule that continues 

to reflect a principles-based approach to 

sanctions guidelines applicable to all 

options rules that does not contain 

specific recommended fine ranges for a 

subset of rules would modernize and 

update the rule in important respects 

while continuing to provide flexible 

guidelines for determining appropriate 

remedial sanctions consistent with the 

intention of the original rule.9 The 

principles-based guidelines contained 

in Cboe Rule 13.11 that the Exchange 

proposes to adopt are similar to those 

set forth in the current guidelines. 

However, because Cboe Rule 13.11 takes 

a more streamlined approach, the 

Exchange believes the proposed rule 

more clearly and succinctly sets forth 

current relevant considerations 

regarding the adjudication of 

disciplinary actions. Further, the 

Exchange believes that the proposed 

rule would be consistent with the 2000 

Order because the proposal would 

closely track approved Cboe Rule 13.11 

that was also adopted to satisfy the 

Commission’s order. Indeed, by 

modernizing and updating the 

Exchange’s sanctions guidelines, 

proposed Rule 601 would further 

enhance its disciplinary processes 

consistent with the 2000 Order. Finally, 

the proposed rule would promote 

regulatory consistency across options 

exchanges in determining appropriate 

remedial sanctions for violations of 

options rules. 

Like current Rule 476.10, proposed 

Rule 601 would not apply to the 

equities market.10 As such, Rule 601 

would carry forward the current 

practice under Rule 476.10 whereby the 

various bodies with responsibility for 

the adjudication of disciplinary actions, 

including Hearing Panels, Hearing 

Officers, the Committee for Review 

(‘‘CFR’’), and the Board of Directors 

(‘‘Board’’), defined in the proposed Rule 

collectively as ‘‘Adjudicatory 

Bodies,’’ 11 would consider relevant 

Exchange precedent or such other 

precedent as they deem appropriate in 

determining sanctions imposed against 

ATP Holders or ATP Firms and their 

covered persons. 

The remainder of the proposed Rule, 

with the following exceptions, would be 

substantially the same as Cboe Rule 

13.11.01: 

• First, the second paragraph in the 

proposed Rule would transpose the 

updated definition of ‘‘Adjudicatory 

Bodies’’ 12 from the second paragraph of 


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74546 Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 

13 15 U.S.C. 78f(b)(5). 

14 15 U.S.C. 78f(b)(7). 

15Under the Exchange’s equities rules, the 

equivalent to the term ‘‘member’’ in this context is 

‘‘member organization.’’ References to ‘‘member’’ 

and ‘‘member organization’’ as those terms are used 

in the rules of the Exchange include ATP Holders. 

See Rules 18, 24 & 900.2NY(5). See Release No. 

77241, 81 FR 11318, notes 25–26, & 11334, n. 75. 

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

17See 67 FR at 6771. 

current Rule 476.10(A) and the last two 

sentences of the third paragraph of 

current Rule 476.10(A). 

• Second, references to ‘‘Cboe 

Options Trading Permit Holders’’ in 

Cboe Rule 13.11.01 would be replaced 

with ‘‘ATP Holders or ATP Firms’’ to 

reflect the Exchange’s membership. 

• Third, in proposed Rule 601(d), the 

Exchange would omit the second 

sentence in Cboe Rule 13.11.01(d), 

which is duplicative of the first 

sentence that the Exchange would 

retain. 

• Fourth, in proposed Rule 601(e), the 

Exchange would omit the first sentence 

of Cboe Rule 13.11.01(e), which 

provides that ‘‘Aggregation of violations 

may be appropriate in certain instances 

for purposes of determining sanctions,’’ 

as redundant of the second sentence of 

Cboe Rule 13.11.01(e), which the 

Exchange would retain. 

• Fifth, in proposed Rule 601(f), the 

Exchange would omit the first sentence 

of Cboe Rule 13.11.01(f), which 

provides that ‘‘The Hearing Panel or the 

CRO, as applicable, should evaluate 

appropriateness of disgorgement and/or 

restitution,’’ as redundant of the 

sentence of Cboe Rule 13.11.01(f), 

which the Exchange would retain. 

Finally, consistent with the 

Exchange’s desire to adopt streamlined, 

principles-based sanctions guidelines 

along the lines set forth in Cboe Rule 

13.11.01, the Exchange would not carry 

forward the specific recommended 

monetary and non-monetary sanctions 

applicable to certain specific rule 

violations found in current Rule 476.10. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b)(5) of the Act,13 in that 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. In addition, the 

Exchange believes that the proposed 

rule change furthers the objectives of 

Section 6(b)(7) of the Act,14 in 

particular, in that it provides fair 

procedures for the disciplining of 

members and persons associated with 

members,15 the denial of membership to 

any person seeking membership therein, 

the barring of any person from becoming 

associated with a member thereof, and 

the prohibition or limitation by the 

Exchange of any person with respect to 

access to services offered by the 

Exchange or a member thereof. 

Specifically, the Exchange believes 

that deletion of the obsolete legacy 

disciplinary rules now that there are no 

longer any member organizations or 

persons subject to those rules, and 

making conforming changes to the rules 

referencing those legacy disciplinary 

rules, would increase the clarity and 

transparency of the Exchange’s rules 

and remove impediments to and perfect 

the mechanism of a free and open 

market by ensuring that persons subject 

to the Exchange’s jurisdiction, 

regulators, and the investing public 

could more easily navigate and 

understand the Exchange Bylaws and 

rules. The Exchange further believes 

that the proposed amendments would 

not be inconsistent with the public 

interest and the protection of investors 

because investors will not be harmed 

and in fact would benefit from increased 

transparency and clarity, thereby 

reducing potential confusion. 

The Exchange further believes that 

retaining the substantive offenses in 

Rule 476(a) without change is designed 

to prevent fraudulent and manipulative 

acts and practices by permitting the 

Exchange to continue to carry out its 

oversight and enforcement 

responsibilities with respect to the 

substantive provisions currently 

enumerated in Rule 476(a). For the same 

reasons, retention of those provisions 

would not be inconsistent with the 

public interest and the protection of 

investors. 

Finally, the Exchange believes that 

adopting sanction guidelines similar to 

Cboe Rule 13.11.01 with only nonsubstantive, conforming changes that do 

not contain specific recommended fine 

ranges for a subset of rules would 

continue to permit the Exchange to 

impose sanctions consistently and fairly 

by reference to a streamlined rule, 

thereby continuing to provide fair 

procedures for the disciplining of 

members and persons associated with 

members, the denial of membership to 

any person seeking Exchange 

membership, the barring of any person 

from becoming associated with a 

member, and the prohibition or 

limitation by the Exchange of any 

person with respect to access to services 

offered by the Exchange or a member 

thereof pursuant to Section 6(b)(7) 16 of 

the Act. 

The proposed rule would provide 

flexible and appropriate principlesbased guidelines applicable to all 

options rules for determining remedial 

sanctions consistent with the intention 

of the Exchange’s current sanctions 

guidelines rule.17 However, the 

Exchange believes that dispensing with 

recommended fine ranges would 

modernize and update the rule in 

important respects. As noted, there are 

currently fine ranges for numerous rules 

that have been superseded or deleted, 

and the fine ranges for the remaining 

operative rules do not reflect more 

recent regulatory considerations and 

fine levels. Moreover, by adopting Cboe 

Rule 13.11’s more streamlined approach 

to sanctions guidelines, the Exchange 

believes the proposed rule would more 

clearly and succinctly set forth the 

current relevant considerations 

regarding the adjudication of 

disciplinary actions. Further, the 

Exchange believes that the proposed 

rule would also be consistent with the 

2000 Order because the proposal would 

closely track approved Cboe Rule 13.11 

that was adopted to satisfy the same 

Commission order. Indeed, the 

Exchange believes that by modernizing 

and updating its sanctions guidelines, 

proposed Rule 601 would further 

enhance its disciplinary processes 

consistent with the 2000 Order and 

further ensure that the Exchange 

implements the most appropriate 

disciplinary mechanisms for violations 

and a fair process in determining same. 

Finally, the proposed rule would 

promote regulatory consistency and 

uniformity across options exchanges in 

determining appropriate remedial 

sanctions and the imposition of 

penalties. 

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 Exchange Act. 

The proposed rule change is not 

intended to address competitive issues 

but rather is concerned solely with 

deleting obsolete rules and making 

related and conforming changes. 


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Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 74547 

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

19 17 CFR 240.19b–4(f)(6). 

20 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. 

21 15 U.S.C. 78s(b)(2)(B). 22 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Amendment No. 1 corrects the presentation of 

changes in Exhibit 5 by reflecting the deletion of the 

prior ‘‘Oversight of the Policy’’ section as part of the 

updated governance and oversight provisions. This 

amendment was filed with the Commission on 

August 24, 2023. 

4Self-Regulatory Organizations; ICE Clear Europe 

Limited; Notice of Filing of Proposed Rule Change, 

as Modified by Amendment No. 1, Relating to 

Amendments to its Operational Risk and Resilience 

Policy, Exchange Act Release No. 98237 (Aug. 29, 

2023); 88 FR 60727 (Sep. 5, 2023) (SR–ICEEU– 

2023–021) (‘‘Notice’’). 

5Self-Regulatory Organizations; ICE Clear Europe 

Limited; Notice of Designation of Longer Period for 

Commission Action on Proposed Rule Change, as 

Modified by Amendment No. 1, Relating to 

Amendments to its Operational Risk and Resilience 

Policy; Exchange Act Release No. 98573 (Sep. 27, 

2023), 88 FR 68240 (Oct. 3, 2023) (File No. SR– 

ICEEU–2023–021). 

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 18 and Rule 

19b–4(f)(6) thereunder.19 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.20

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) 21 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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSEAMER–2023–49 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–2023–49. 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 

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–2023–49 and should 

be submitted on or before November 21, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–23940 Filed 10–30–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98799; File No. SR–ICEEU– 

2023–021] 

Self-Regulatory Organizations; ICE 

Clear Europe Limited; Order Approving 

Proposed Rule Change, as Modified by 

Amendment No. 1, Relating to 

Amendments to its Operational Risk 

and Resilience Policy 

October 25, 2023. 

I. Introduction 

On August 15, 2023, ICE Clear Europe 

Limited (‘‘ICE Clear Europe’’ or 

‘‘Clearing House’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

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

of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend its Operational Risk and 

Resilience Policy (the ‘‘Policy’’). On 

August 24, 2023, ICE Clear Europe filed 

Amendment No. 1 to the proposed rule 

change to make certain changes to the 

Exhibits 5.3 Notice of the proposed rule 

change, as modified by Amendment No. 

1, was published for comment in the 

Federal Register on September 5, 2023.4

On October 3, 2023, the Commission 

designated a longer period for 

Commission action on the proposed rule 

change until December 4, 2023.5 The 

Commission has not received comments 

regarding the proposed rule change. For 

the reasons discussed below, the 

Commission is approving the proposed 

rule change, as modified by Amendment 

No. 1 (hereinafter ‘‘the Proposed Rule 

Change’’). 

II. Description of the Proposed Rule 

Change 

A. Background 

ICE Clear Europe is registered with 

the Commission as a clearing agency for 


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