78086 Federal Register / Vol. 88, No. 218 / Tuesday, November 14, 2023 / Notices 

7 15 U.S.C. 78f(b)(8). 

8 15 U.S.C. 78(b)(3)(A). 

9 17 CFR 240.19b–4(f)(6). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s 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. 

12 17 CFR 240.19b–4(f)(6). 

13 17 CFR 240.19b–4(f)(6)(iii). 

14For purposes only of waiving the 30-day 

operative delay, the Commission also has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 15 17 CFR 200.30–3(a)(12), (59). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,7 the Exchange believes that the 

proposed rule change would not 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 is rather 

concerned with deleting and replacing 

obsolete references in its rules. Since 

the proposal does not substantively 

modify system functionality or 

processes on the Exchange, the 

proposed changes will not impose any 

burden on competition. 

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) of the Act 8 and Rule 19b– 

4(f)(6) 9 thereunder. 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 10 and Rule 19b– 

4(f)(6) 11 thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 12 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),13 the 

Commission may designate a shorter 

time if such action is consistent with 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become operative 

immediately upon filing. The 

Commission believes that waving the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest, because it will allow the 

Exchange to correct obsolete references 

to a FINRA department in its rule text. 

Accordingly, the Commission 

designates the proposed rule change to 

be operative upon filing.14

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 will 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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSEAMER–2023–53 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–2023–53. 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–2023–53 and should 

be submitted on or before December 5, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–25010 Filed 11–13–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. IA– 

6478] 

Notice of Intention to Cancel 

Registration Pursuant to Section 

203(h) of the Investment Advisers Act 

of 1940 

November 7, 2023. 

Notice is given that the Securities and 

Exchange Commission (the 

‘‘Commission’’) intends to issue an 

order, pursuant to Section 203(h) of the 

Investment Advisers Act of 1940 (the 

‘‘Act’’), cancelling the registration of 

Ramos, Mario, File No. 801–127334, 

hereinafter referred to as the 

‘‘registrant.’’ Section 203(h) provides, in 

pertinent part, that if the Commission 

finds that any person registered under 

Section 203, or who has pending an 

application for registration filed under 

that section, is no longer in existence, is 

not engaged in business as an 

investment adviser, or is prohibited 

from registering as an investment 

adviser under section 203A, the 

Commission shall by order, cancel the 

registration of such person. 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 88, No. 218 / Tuesday, November 14, 2023 / Notices 78087 

1Section 203A of the Act generally prohibits an 

investment adviser from registering with the 

Commission unless it meets certain requirements. 

Rule 203A–2 provides exemptions from the 

prohibition on Commission registration in section 

203A of the Act. Rule 203A–2(e) exempts from the 

prohibition on Commission registration certain 

investment advisers that provide advisory services 

through the internet, as described above. See 

Exemption for Certain Investment Advisers 

Operating Through the internet, Investment 

Advisers Act Release No. 2091 (December 12, 2002), 

available at https://www.sec.gov/rules/final/ia2091.htm (‘‘internet Adviser Exemption Adopting 

Release’’). Effective September 19, 2011, rule 203A– 

2(f) was renumbered as rule 203A–2(e). See Rules 

Implementing Amendments to the Investment 

Advisers Act of 1940, Investment Advisers Act 

Release No. 3221 (June 22, 2011), available at 

http://www.sec.gov/rules/final/2011/ia-3221.pdf. 

2Rule 203A–2(e) defines ‘‘interactive website’’ as 

a website in which computer software-based 

models or applications provide investment advice 

to clients based on personal information provided 

by each client through the website. An adviser 

relying on the exemption may not use its advisory 

personnel to elaborate or expand upon the 

investment advice provided by its interactive 

website, or otherwise provide investment advice to 

its internet clients, except as permitted by the rule’s 

de minimis exception. Such exception permits an 

adviser relying on the rule to advise clients through 

means other than its interactive website, so long as 

the adviser had fewer than 15 of these non-internet 

clients during the preceding 12 months. See 

internet Adviser Exemption Adopting Release, id. 

3 17 CFR 200.30–5(e)(2). 

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

2 17 CFR 240.19b–4. 

The registrant indicated on its initial 

and most recent Form ADV filings that 

it is relying on rule 203A–2(e) to register 

with the Commission, which provides 

an exemption from the prohibition on 

registration for an adviser that provides 

investment advice to all of its clients 

exclusively through the adviser’s 

interactive website, except that the 

adviser may advise fewer than 15 clients 

through other means during the 

preceding 12 months.1 The Commission 

believes, based on the facts it has, that 

the registrant does not advise clients 

through an interactive website as 

defined under the rule,2 and that it is 

therefore prohibited from registering as 

an investment adviser under section 

203A of the Act. Accordingly, the 

Commission believes that reasonable 

grounds exist for a finding that this 

registrant is no longer eligible to be 

registered with the Commission as an 

investment adviser and that the 

registration should be cancelled 

pursuant to section 203(h) of the Act. 

Notice is also given that any 

interested person may, by December 2, 

2023, at 5:30 p.m., submit to the 

Commission in writing a request for a 

hearing on the cancellation, 

accompanied by a statement as to the 

nature of his or her interest, the reason 

for such request, and the issues, if any, 

of fact or law proposed to be 

controverted, and he or she may request 

that he or she be notified if the 

Commission should order a hearing 

thereon. Any such communication 

should be emailed to the Commission’s 

Secretary at Secretarys-Office@sec.gov. 

At any time after December 2, 2023, 

the Commission may issue an order 

cancelling the registration, upon the 

basis of the information stated above, 

unless an order for a hearing on the 

cancellation shall be issued upon 

request or upon the Commission’s own 

motion. Persons who requested a 

hearing, or who requested to be advised 

as to whether a hearing is ordered, will 

receive any notices and orders issued in 

this matter, including the date of the 

hearing (if ordered) and any 

postponements thereof. Any adviser 

whose registration is cancelled under 

delegated authority may appeal that 

decision directly to the Commission in 

accordance with rules 430 and 431 of 

the Commission’s rules of practice (17 

CFR 201.430 and 431). 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. 

FOR FURTHER INFORMATION CONTACT: 

Juliet Han, Senior Counsel at 202–551– 

5213; SEC, Division of Investment 

Management, Office of Chief Counsel, 

100 F Street NE, Washington, DC 

20549–8549. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority.3

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–24991 Filed 11–13–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98876; File No. SR– 

NYSEARCA–2023–74] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rules 10.9521 

and 10.9522 To Correct Obsolete 

References to a FINRA Department 

November 7, 2023. 

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

Securities Exchange Act of 1934 (‘‘Act’’) 

and Rule 19b–4 thereunder,2 notice is 

hereby given that on October 26, 2023, 

NYSE Arca, Inc. (‘‘NYSE Arca’’ or the 

‘‘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 amend 

Rules 10.9521 (Purposes and 

Definitions) and 10.9522 (Initiation of 

Eligibility Proceeding; Member 

Regulation Consideration) to correct an 

obsolete reference to a department of the 

Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’). 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 proposes to 

amend Rules 10.9521 (Purposes and 

Definitions) and 10.9522 (Initiation of 

Eligibility Proceeding; Member 

Regulation Consideration) to correct an 

obsolete reference to a FINRA 

department. 

Background and Proposed Rule Change 

In 2019, NYSE Arca adopted 

disciplinary rules based on the text of 

the Rule 8000 and Rule 9000 Series of 

its affiliate NYSE American LLC 

(‘‘NYSE American’’), with certain 

changes. The NYSE American 

disciplinary rules are, in turn, 

substantially the same as the Rule 8000 

Series and Rule 9000 Series of FINRA 

and the New York Stock Exchange 


khammond on DSKJM1Z7X2PROD with NOTICES