Federal Register / Vol. 88, No. 239 / Thursday, December 14, 2023 / Notices 86689 

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

2 15 U.S.C. 78a 

3 17 CFR 240.19b–4. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: 

December 14, 2023. 

FOR FURTHER INFORMATION CONTACT: 

Sean C. Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on December 5, 

2023, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express, Priority Mail & 

USPS Ground Advantage® Contract 29 

to Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2024–97, CP2024–99. 

Sean C. Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2023–27417 Filed 12–13–23; 8:45 am] 

BILLING CODE 7710–12–P 

SCIENCE AND TECHNOLOGY POLICY 

OFFICE 

Notice of Request for Information; 

National Plan for Civil Earth 

Observations 

AGENCY: White House Office of Science 

and Technology Policy (OSTP). 

ACTION: Request for Information (RFI); 

extension of comment period. 

SUMMARY: On November 23, 2023, the 

Office of Science and Technology Policy 

(OSTP) published in the Federal 

Register a document entitled ‘‘Request 

for Information (RFI); National Plan for 

Civil Earth Observations.’’ This RFI, 

issued by OSTP, which includes a draft 

of the 2023 National Plan, seeks 

information to achieve a future vision 

for continued United States global 

leadership in enabling and leveraging 

civil Earth Observations to increase 

access to Earth data, and address global 

changes. OSTP is specifically interested 

in public input to inform the 

development and release of the 2023 

National Plan to better leverage Earth 

Observations for addressing key societal 

challenges and trends of the coming 

decade. In response to requests by 

prospective commenters that they 

would benefit from additional time to 

adequately consider and respond to the 

RFI, OSTP has determined that an 

extension of the comment period until 

January 16, 2024 is appropriate. 

DATES: The end of the comment period 

for the document entitled ‘‘Request for 

Information (RFI); National Plan for 

Civil Earth Observations,’’ published on 

November 23, 2023 (88 FR 81448), is 

extended from December 31, 2023 to 

January 16, 2024. 

ADDRESSES: Comments submitted in 

response to 88 FR 81448 should be 

submitted via regulations.gov (Docket #: 

OSTP–FRDOC–0001–0013 or https://

www.regulations.gov/document/OSTP_

FRDOC_0001-0013). Due to time 

constraints, mailed paper submissions 

will not be accepted, and electronic 

submissions received after the deadline 

cannot be ensured to be incorporated or 

taken into consideration. 

Instructions: Federal eRulemaking 

Portal: Go to www.regulations.gov to 

submit your comments electronically. 

Information on how to use 

Regulations.gov, including instructions 

for accessing agency documents, 

submitting comments, and viewing the 

docket, is available on the site under 

‘‘FAQ’’ (https://www.regulations.gov/ 

faq). 

Privacy Note: OSTP’s policy is to 

make all comments received from 

members of the public available for 

public viewing in their entirety on the 

Federal eRulemaking Portal at 

www.regulations.gov. Therefore, 

commenters should be careful to 

include in their comments only 

information that they wish to make 

publicly available. OSTP requests that 

no proprietary information, copyrighted 

information, or personally identifiable 

information be submitted in response to 

this RFI. 

Information obtained from this RFI 

may be used by the Government on a 

non-attribution basis for planning and 

strategy development. OSTP will not 

respond to individual submissions. A 

response to this RFI will not be viewed 

as a binding commitment to develop or 

pursue the project or ideas discussed. 

This RFI is not accepting applications 

for financial assistance or financial 

incentives. 

Responses containing references, 

studies, research, and other empirical 

data that are not widely published 

should include copies of or electronic 

links to the referenced materials. 

Responses from minors, or responses 

containing profanity, vulgarity, threats, 

or other inappropriate language or 

content will not be considered. 

Comments submitted in response to 

this notice are subject to the Freedom of 

Information Act (FOIA). Responses to 

this RFI may be posted without change 

online. Please note that the United 

States Government will not pay for 

response preparation, or for the use of 

any information contained in a 

response. 

FOR FURTHER INFORMATION CONTACT: 

Ezinne Uzo-Okoro; tel: 202–456–4010 or 

usgeo@ostp.eop.gov. 

SUPPLEMENTARY INFORMATION: Pursuant 

to 42 U.S.C. 6617, OSTP is soliciting 

public input through an RFI to obtain 

feedback from a wide variety of 

stakeholders, including individuals, 

industry, academia, research 

laboratories, nonprofits, and think 

tanks. OSTP is specifically interested in 

public input to inform the development 

and release of the 2023 National Plan to 

better leverage Earth Observations for 

addressing key societal challenges and 

trends of the coming decade. The first 

draft of the 2023 National Plan is 

included in the Regulations.gov notice 

(Docket #: OSTP–FRDOC–0001–0013 or 

https://www.regulations.gov/document/ 

OSTP_FRDOC_0001-0013) for public 

input. The document stated that the 

comment period would close on 

December 31, 2023. OSTP has received 

requests to extend the comment period. 

An extension of the comment period 

will provide additional opportunity for 

the public to consider the RFI and 

prepare comments to address the topics 

listed therein. Therefore, OSTP is 

extending the end of the comment 

period for the RFI from December 31, 

2023 to January 16, 2024. 

Submitted by the White House Office 

of Science and Technology Policy on 

December 7, 2023. 

Dated: December 11, 2023. 

Stacy Murphy, 

Deputy Chief Operations Officer/Security 

Officer. 

[FR Doc. 2023–27461 Filed 12–13–23; 8:45 am] 

BILLING CODE 3270–F1–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99127; File No. SR– 

NYSENAT–2023–28] 

Self-Regulatory Organizations; NYSE 

National, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Harmonize Rules 

10.9261 and 10.9830 

December 8, 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 November 

27, 2023, NYSE National, Inc. (‘‘NYSE 

National’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (the ‘‘Commission’’) the 


lotter on DSK11XQN23PROD with NOTICES1
86690 Federal Register / Vol. 88, No. 239 / Thursday, December 14, 2023 / Notices 

4See Securities Exchange Act Release Nos. 83289 

(May 17, 2018), 83 FR 23968, 23976 (May 23, 2018) 

(SR–NYSENAT–2018–02) (‘‘2018 Approval Order’’). 

5See id. 

6See Securities Exchange Act Release Nos. 83289 

(September 2, 2020), 85 FR 55712 (September 9, 

2020) (SR–FINRA–2020–027). FINRA also proposed 

to temporarily amend FINRA Rules 1015 and 9524. 

FINRA Rule 1015 governs the process by which an 

applicant for new or continuing membership can 

appeal a decision rendered by FINRA’s Department 

of Member Supervision under FINRA Rule 1014 or 

1017 and request a hearing which would be 

conducted by a subcommittee of the NAC. See id. 

The Exchange has not adopted FINRA Rule 1015. 

FINRA Rule 9524 governs the process by which a 

statutorily disqualified member firm or associated 

person can appeal the Department’s 

recommendation to deny a firm or sponsoring firm’s 

application to the NAC. See id. Under the 

Exchange’s version of Rule 9524, if the Chief 

Regulatory Officer rejects the application, the 

member organization or applicant may request a 

review by the Exchange Board of Directors. This 

differs from FINRA’s process, which provides for a 

hearing before the NAC and further consideration 

by the FINRA Board of Directors. 

7See 85 FR at 55713. 

8See id. 

9FINRA’s OHO administers all aspects of 

Exchange adjudications, including assigning 

hearing officers to serve as NYSE National hearing 

officers. A hearing officer from OHO will, among 

other things, preside over the disciplinary hearing, 

select and chair the hearing panel, and prepare and 

issue written decisions. The Chief or Deputy 

Hearing Officer for all Exchange disciplinary 

hearings are currently drawn from OHO and are all 

FINRA employees. The Exchange believes that OHO 

will utilize the same video conference protocol and 

processes for Exchange matters under the RSA as 

it proposes for FINRA matters. 10See Securities Exchange Act Release No. 90137 

(October 8, 2020), 85 FR 65087 (October 14, 2020) 

(SR–NYSENAT–2020–31). 11See Securities Exchange Act Release No. 90619 

(December 9, 2020), 85 FR 81250 (December 15, 

2020) (SR–FINRA–2020–042); Securities Exchange 

Act Release No. 91495 (April 7, 2021), 86 FR 19306 

(April 13, 2021) (SR–FINRA–2021–006); Securities 

Exchange Act Release No. 92685 (August 17, 2021), 

86 FR 47169 (August 23, 2021) (SR–FINRA–2021– 

019); Securities Exchange Act Release No. 93758 

(December 13, 2021), 86 FR 71695 (December 17, 

2021) (SR–FINRA–2021–31); Securities Exchange 

Act Release No. 94430 (March 16, 2022), 87 FR 

16262 (March 22, 2022) (SR–FINRA–2022–004); 

Securities Exchange Act Release No. 95281 (July 14, 

2022), 87 FR 43335 (July 20, 2022) (SR–FINRA– 

2022–018); Securities Exchange Act Release No. 

96107 (October 19, 2022), 87 FR 64526 (October 25, 

2022) (SR–FINRA–2022–029); and Securities 

Exchange Act Release No. 96746 (January 25, 2023), 

88 FR 6346 (January 31, 2023) (SR–FINRA–2023– 

001). 

12See Securities Exchange Act Release No. 90822 

(December 30, 2020), 86 FR 627 (January 6, 2021) 

(SR–NYSENAT–2020–39); Securities Exchange Act 

Release No. 91634 (April 22, 2021), 86 FR 22477 

(April 28, 2021) (SR–NYSENAT–2021–11); 

Securities Exchange Act Release No. 92908 

(September 9, 2021), 86 FR 51424 (September 15, 

2021) (SR–NYSENAT–2021–16); Securities 

Exchange Act Release No. 93919 (January 6, 2022), 

87 FR 1804 (January 12, 2022) (SR–NYSENAT– 

2021–25); Securities Exchange Act Release No. 

94662 (April 11, 2022), 87 FR 22601 (April 15, 

2022) (SR–NYSENAT–2022–03); Securities 

Exchange Act Release No. 95476 (August 11, 2022), 

87 FR 50668 (August17, 2022) (SR–NYSENAT– 

2022–14); Securities Exchange Act Release No. 

96262 (November 8, 2022), 87 FR 68540 (November 

15, 2022) (SR–NYSENAT–2022–24); and Securities 

Exchange Act Release No. 96868 (February 9, 2023), 

88 FR 9930 (February 15, 2023) (SR–NYSENAT– 

2023–006). 

13See Securities Exchange Act Release No. 96868 

(February 9, 2023), 88 FR 9930 (February 15, 2023) 

(SR–NYSENAT–2023–006) (extending the 

expiration date of the temporary rule amendments 

to, among other rules, FINRA Rules 9261 and 9830 

from January 31, 2023 to April 30, 2023). The 

temporary amendments expired on April 30, 2023, 

because the Exchange did not file another proposed 

rule change again extending the temporary 

amendments beyond that date. See id. at 9931. 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory 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 harmonize 

Rules 10.9261 and 10.9830 with recent 

changes by the Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’) 

that allow for video conference hearings 

under specified conditions. 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 harmonize 

Rules 10.9261 (Evidence and Procedure 

in Hearing) and 10.9830 (Hearing) with 

recent changes by FINRA to its Rules 

9261 and 9830 that allow for video 

conference hearings under specified 

conditions. 

Background 

In 2018, NYSE National adopted 

disciplinary rules modeled on the 

disciplinary rules of its affiliate NYSE 

American LLC and the FINRA Rule 

8000 Series and Rule 9000 Series, and 

which set forth rules for conducting 

investigations and enforcement actions.4

In adopting disciplinary rules 

modeled on FINRA’s rules, NYSE 

National adopted the hearing and 

evidentiary processes set forth in Rule 

10.9261 and in Rule 10.9830 for 

hearings in matters involving temporary 

and permanent cease and desist orders 

under the Rule 9800 Series. As adopted, 

the text of Rule 10.9261 is identical to 

the counterpart FINRA rule. Rule 

10.9830 is also identical to FINRA’s 

counterpart rule, except for conforming 

and technical amendments.5

In 2020, given the spread of COVID– 

19 and its effect on FINRA’s 

adjudicatory functions nationwide, 

FINRA filed a temporary rule change to 

grant FINRA’s Office of Hearing Officers 

(‘‘OHO’’) and the National Adjudicatory 

Council (‘‘NAC’’) the authority to 

conduct certain hearings by video 

conference if warranted by the current 

COVID–19-related public health risks 

posed by in-person hearings. Among the 

rules FINRA amended were FINRA 

Rules 9261 and 9830.6

In its filing, FINRA represented that 

its protocol for conducting hearings by 

video conference would ensure that 

such hearings maintain a fair process for 

the parties by, among other things, 

FINRA’s use of a high quality, secure 

and user-friendly video conferencing 

service and provision of thorough 

instructions, training and technical 

support to all hearing participants.7

According to FINRA, the changes were 

a reasonable interim solution to allow 

FINRA’s critical adjudicatory processes 

to continue to function while protecting 

the health and safety of hearing 

participants.8

Given that FINRA and OHO 

administer disciplinary hearings on the 

Exchange’s behalf pursuant to a 

regulatory services agreement (‘‘RSA’’),9

and that the public health concerns 

addressed by FINRA’s amendments 

applied equally to the Exchange’s 

disciplinary hearings, in 2020 the 

Exchange also temporarily amended its 

disciplinary rules to allow virtual 

hearings.10 Both FINRA 11 and the 

Exchange 12 extended the temporary 

relief several times due to the 

continuing public health risks and 

logistical challenges related to COVID– 

19, including whether hearing 

participants could safely travel and 

abide by state or local quarantine 

requirements. The Exchange’s 

temporary amendments to Rules 

10.9261 and 10.9830 expired on April 

30, 2023.13


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Federal Register / Vol. 88, No. 239 / Thursday, December 14, 2023 / Notices 86691 

14See Securities Exchange Act Release Nos. 

98029 (August 4, 2023), 88 FR 51879 (August 4, 

2023) (SR–FINRA–2023–008) (Order Approving a 

Proposed Rule Change To Amend FINRA Rules 

1015, 9261, 9341, 9524, 9830 and Funding Portal 

Rule 900 (Code of Procedure) To Permit Hearings 

Under Those Rules To Be Conducted by Video 

Conference) (‘‘FINRA Approval Order’’). 

15See FINRA Approval Order, 88 FR at 51880. 

16See id. 

17See id. 

18See id. 

19See id. 

20As used herein, ‘‘evidentiary hearings’’ refers to 

hearings conducted before OHO under Rules 

10.9261 and 10.9830. See id., 88 FR at 51880, n. 25. 

21See id. at 51881. 

22See id. 

23See text accompanying note 15, supra. 

24See FINRA Approval Order, 88 FR at 51880. 

25See id. 

26See text accompanying notes 7 & 18, supra. 

27See FINRA Approval Order, 88 FR at 51882. 

28See id. 

Recently, the Commission approved 

FINRA’s proposal to make the 

temporary amendments regarding video 

conference hearings permanent, with 

some modifications, to permit the use of 

video conferences for reasons beyond 

COVID–19.14 Specifically, FINRA 

amended, among other rules, FINRA 

Rules 9261 and 9830 to extend OHO’s 

authority to order hearings by video 

conference to other similar situations in 

which proceeding in person could 

endanger the health or safety of the 

participant or alternatively would be 

impracticable (e.g., an uncommon 

situation or extraordinary circumstances 

such as a natural disaster or terrorist 

attack that caused travel to be cancelled 

for an extended period of time).15 As 

approved, OHO has discretion to 

determine whether the circumstances 

for a video hearing have been met and 

can act quickly if a future unexpected 

event impairs their ability to conduct inperson hearings safely.16 In addition, 

OHO has authority to order hearings to 

occur by video conference based on a 

motion, which was not permitted under 

the previous temporary amendments to 

FINRA Rules 9261 and 9830.17

As the FINRA Approval Order noted, 

FINRA represented that it will utilize 

the same protocols for conducting video 

conference hearings as those employed 

under the temporary amendments, 

including using a high quality, secure, 

user-friendly video conferencing service 

and providing thorough instructions, 

training, and technical support to all 

hearing participants.18 In addition, the 

FINRA Approval Order noted that, 

according to FINRA, the parties could 

file a joint motion requesting the 

hearing to occur, in whole or in part, by 

video conference based on a showing of 

good cause. In-person hearings, 

however, would remain the default 

method for conducting hearings.19

Further, as noted in the FINRA 

Approval Order, given the nature of 

evidentiary hearings,20 which often 

occur over multiple days and generally 

include numerous documents in 

evidence and witness testimony, 

motions for a hearing by video 

conference would need to be joined by 

all parties, and even joint motions could 

be denied if the adjudicator determines 

that good cause has not been shown.21

According to FINRA, OHO would have 

reasonable discretion based on a joint 

motion of the parties to exercise its 

authority to determine whether a 

hearing should occur by video 

conference under the proposed rule 

change.22 Moreover, in deciding 

whether to schedule a hearing by video 

conference, OHO could consider and 

balance a variety of factors including, 

for example and without limitation, a 

hearing participant’s individual health 

concerns and access to the connectivity 

and technology necessary to participate 

in a video conference hearing. 

Additionally, as noted above, OHO may 

consider whether a situation is 

uncommon or there are extraordinary 

circumstances.23

Finally, the FINRA Approval Order 

noted that for approximately two and a 

half years, while the temporary 

amendments were in effect, OHO 

successfully conducted numerous 

hearings by video conference using 

Zoom, a system which was vetted by 

FINRA’s information technology staff.24

FINRA stated that this use of video 

conference technology has been an 

effective and efficient alternative to inperson hearings.25

As discussed below, the Exchange 

proposes to delete the temporary rule 

text in Rule 10.9261 and Rule 10.9830 

permitting video conferences that 

expired earlier this year and replace it 

with rule text based on FINRA’s 

recently approved amendments to its 

Rules 9261 and 9830 permitting video 

conference hearings under specified 

conditions. 

Proposed Rule Change 

NYSE National Rule 10.9261(b) 

provides that if a disciplinary hearing is 

held, a party shall be entitled to be 

heard in-person, by counsel, or by the 

party’s representative. Similarly, NYSE 

National Rule 10.9830 outlines the 

requirements for hearings for temporary 

and permanent cease and desist orders. 

NYSE National Rule 10.9830(a), 

however, does not specify that a party 

shall be entitled to be heard in-person, 

by counsel, or by the party’s 

representative. Consistent with FINRA’s 

temporary amendment to FINRA Rules 

9261 and 9830 that expired earlier this 

year, both NYSE National rules 

temporarily granted the Chief or Deputy 

Chief Hearing Officer temporary 

authority to order, upon consideration 

of COVID–19-related public health risks 

presented by an in-person hearing, that 

a hearing under those rules be 

conducted by video conference. 

The Exchange proposes to delete the 

temporary amendments to Rules 

10.9261 and 10.9830 and conform these 

rules to FINRA Rules 9261 and 9830 as 

recently amended. The Exchange would 

add text to the rules permitting the 

Chief or Deputy Chief Hearing Officer to 

order the hearing to be conducted in 

whole or in part by video conference 

consistent with the FINRA Approval 

Order either based upon an assessment 

that proceeding in person may endanger 

the health or safety of the participants 

or would be impracticable or upon 

consideration of a joint motion of the 

parties for good cause shown. As noted, 

FINRA has adopted a detailed and 

thorough protocol to ensure that 

hearings conducted by video conference 

will maintain a fair process for the 

parties.26 Moreover, the proposed rule 

change would modernize existing 

procedures and allow parties who 

jointly prefer video conference to 

potentially save travel costs and time. 

As proposed, the use of video 

conferences would be limited and 

controlled, and in-person hearings 

would continue to be the default 

method for conducting hearings.27

Furthermore, the proposed rule includes 

procedural safeguards to ensure 

fairness, such as the requirement for 

evidentiary hearings that any motions 

be joined by all parties and show good 

cause.28 The Exchange believes that this 

is a reasonable procedure to follow in 

hearings under Rules 10.9261 and 

10.9830 chaired by a FINRA employee. 

To effectuate these changes, the 

Exchange proposes to add the following 

deletions (bracketed) and additions 

(italicized) to Rule 10.9261(b): 

If a hearing is held, a Party shall be entitled 

to be heard in person, by counsel, or by the 

Party’s representative. [Upon consideration 

of the current public health risks presented 

by an in-person hearing, the Chief Hearing 

Officer or Deputy Chief Hearing Officer may, 

on a temporary basis, determine that the 

hearing shall be conducted, in whole or in 

part, by video conference.]Upon a 

determination that proceeding in person may 

endanger the health or safety of the 

participants or would be impracticable, or 

upon consideration of a joint motion of the 

Parties for good cause shown, the Chief 

Hearing Officer or Deputy Chief Hearing 


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86692 Federal Register / Vol. 88, No. 239 / Thursday, December 14, 2023 / Notices 

29See Exchange Act Release No. 97403 (May 4, 

2023), 88 FR 28645 (May 4, 2023) (File No. SR– 

FINRA–2023–008) (Notice of Filing of a Proposed 

Rule Change To Amend FINRA Rules 1015, 9261, 

9341, 9524, 9830 and Funding Portal Rule 900 

(Code of Procedure) To Permit Hearings Under 

Those Rules To Be Conducted by Video 

Conference). 

30See id. 

31 15 U.S.C. 78f(b). 

32 15 U.S.C. 78f(b)(5). 

33 15 U.S.C. 78f(b)(7) & 78f(d). 

34See FINRA Approval Order, 88 FR at 51880. 

35See id. at 51881 & n. 36. 

36 15 U.S.C. 78f(b)(7) and 78f(d). 

Officer may, in the exercise of reasonable 

discretion, order the hearing to be conducted, 

in whole or in part, by video conference. 

The proposed text is identical to the 

language adopted by FINRA.29

Similarly, the Exchange proposes the 

following deletions and additions to 

Rule 10.9830(a): 

The hearing shall be held not later than 15 

days after service of the notice and filing 

initiating the temporary cease and desist 

proceeding, unless otherwise extended by the 

Chief Hearing Officer or Deputy Chief 

Hearing Officer for good cause shown. If a 

Hearing Officer or Hearing Panelist is recused 

or disqualified, the hearing shall be held not 

later than five days after a replacement 

Hearing Officer or Hearing Panelist is 

appointed. [Upon consideration of the 

current public health risks presented by an 

in-person hearing, the Chief Hearing Officer 

or Deputy Chief Hearing Officer may, on a 

temporary basis, determine that the hearing 

shall be conducted, in whole or in part, by 

video conference.]Upon a determination that 

proceeding in person may endanger the 

health or safety of the participants or would 

be impracticable, or upon consideration of a 

joint motion of the Parties for good cause 

shown, the Chief Hearing Officer or Deputy 

Chief Hearing Officer may, in the exercise of 

reasonable discretion, order the hearing to be 

conducted, in whole or in part, by video 

conference. 

Once again, the proposed language is 

identical to the language adopted by 

FINRA.30

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Act,31 in general, and furthers the 

objectives of Section 6(b)(5),32 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. Additionally, the 

Exchange believes the proposed rule 

change is designed to provide a fair 

procedure for the disciplining of 

members and persons associated with 

members, consistent with Sections 

6(b)(7) and 6(d) of the Act.33

The Exchange believes that the 

proposed rule changes support the 

objectives of the Act by harmonizing 

Exchange rules modeled on FINRA’s 

rules, resulting in less burdensome and 

more efficient regulatory compliance. 

As previously noted, the additional text 

proposed for Rule 10.9261 and Rule 

10.9830 is identical to the text in the 

counterpart FINRA rules. As such, the 

proposed rule change would facilitate 

rule harmonization among selfregulatory organizations with respect to 

the conduct of video conference 

hearings, thereby fostering 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. 

The Exchange believes that the 

proposed rule change protects investors 

and the public interest by permitting the 

use of broadly available technology to 

allow hearings to proceed by video 

conference under certain circumstances. 

The Exchange’s disciplinary 

proceedings serve a critical role in 

providing investor protection and 

maintaining fair and orderly markets by, 

for example, sanctioning misconduct 

and preventing further customer harm 

by members and associated persons. 

The proposed rule change would 

encourage the prompt resolution of 

these cases while preserving fair 

process. The Exchange believes that this 

is especially important in matters where 

temporary and permanent cease and 

desist orders are sought because the 

proposed rule change would enable 

those hearings to proceed without delay, 

thereby enabling the Exchange to take 

immediate action to stop significant, 

ongoing customer harm, to the benefit of 

the investing public. 

The proposed rule change promotes 

efficiency by permitting hearings to 

occur by video conference in situations 

where the hearings would otherwise be 

postponed for an uncertain period of 

time. Moreover, as noted, FINRA will 

utilize the same protocols for 

conducting video conference hearings as 

those employed under the temporary 

amendments, including using a high 

quality, secure, user-friendly video 

conferencing service and providing 

thorough instructions, training, and 

technical support to all hearing 

participants.34 Moreover, the Chief or 

Deputy Chief Hearing Officer may take 

into consideration, among other things, 

a hearing participant’s individual health 

concerns and access to the connectivity 

and technology necessary to participate 

in a video conference hearing.35

For the same reasons, the Exchange 

believes that the proposed changes are 

designed to provide a fair procedure for 

the disciplining of members and 

persons associated with members, 

consistent with Sections 6(b)(7) and 6(d) 

of the Act.36 The Exchange believes that 

the proposed rule change provides a fair 

procedure by allowing hearings to 

proceed by video conference not only 

due to public health or safety reasons, 

but also at a party or the parties’ request 

for reasons particular to them. The Chief 

or Deputy Chief Hearing Officer could 

allow a hearing to proceed by video 

conference in the exercise of reasonable 

discretion and subject to procedural 

safeguards that ensure fairness, 

including the requirement that any 

motions be joined by all parties and 

show good cause. Overall, the proposed 

rule change represents a significant step 

toward modernizing disciplinary 

process procedures in a manner that 

preserves in-person hearings but allows 

for the use of video conference 

technology under certain circumstances. 

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 is rather 

intended solely to create permanent 

rules that would allow video conference 

hearings if OHO determines that 

proceeding in person may endanger the 

health or safety of the participants or 

would be impracticable, or where both 

parties prefer doing so and show good 

cause, thereby providing greater 

harmonization with approved FINRA 

rules. 

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 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 88, No. 239 / Thursday, December 14, 2023 / Notices 86693 

37 15 U.S.C. 78s(b)(3)(A)(iii). 

38 17 CFR 240.19b–4(f)(6). 

39Rule 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. 

40 17 CFR 240.19b–4(f)(6). 

41 17 CFR 240.19b–4(f)(6)(iii). 

42 15 U.S.C. 78s(b)(2)(B). 43 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

19(b)(3)(A)(iii) of the Act 37 and Rule 

19b–4(f)(6) thereunder.38 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.39

A proposed rule change filed under 

Rule 19b–4(f)(6) 40 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),41 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

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) 42 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– 

NYSENAT–2023–28 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–NYSENAT–2023–28. 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–NYSENAT–2023–28 and 

should be submitted on or before 

January 4, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.43

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27404 Filed 12–13–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99122; File No. SR– 

NYSEARCA–2023–82] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Harmonize Rules 

10.9261 and 10.9830 

December 8, 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 

November 27, 2023, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory 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 harmonize 

Rules 10.9261 and 10.9830 with recent 

changes by the Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’) 

that allow for video conference hearings 

under specified conditions. 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. 


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