Federal Register / Vol. 89, No. 8 / Thursday, January 11, 2024 / Notices 1965 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b 4. 

4CRD is the central licensing and registration 

system for the U.S. securities industry. The CRD 

system enables individuals and firms seeking 

registration with multiple states and self-regulatory 

organizations to do so by submitting a single form, 

fingerprint card, and a combined payment of fees 

to FINRA. Through the CRD system, FINRA 

maintains the qualification, employment, and 

disciplinary histories of registered associated 

persons of broker-dealers. 

5The Exchange originally adopted fees for use of 

the CRD system in 2001 and amended those fees in 

2013, 2022 and 2023. See Securities Exchange Act 

Release Nos. 45112 (November 28, 2001), 66 FR 

63086 (December 4, 2001) (SR–NYSE–2001–47); 

68587 (January 4, 2013), 78 FR 2467 (January 11, 

2013) (SR–NYSE–2012–77); 93904 (January 5, 

2022), 87 FR 1463 (January 11, 2022) (SR–NYSE– 

2021–77); and 96636 (January 11, 2023), 88 FR 2985 

(January 18, 2023) (NYSE–2023–02). While the 

Exchange lists these fees in its Price List, it does 

not collect or retain these fees. 

6See Securities Exchange Act Release No. 90176 

(October 14, 2020), 85 FR 66592 (October 20, 2020) 

(SR–FINRA–2020–032). 

7The Exchange notes that it has only adopted the 

CRD system fees charged by FINRA to Non-FINRA 

Member Organizations when such fees are 

applicable. In this regard, certain FINRA CRD 

system fees and requirements are specific to FINRA 

members, but do not apply to NYSE-only member 

organizations. Non-FINRA Member Organizations 

have been charged CRD system fees since 2001. See 

note 5, supra. Member organizations that are also 

FINRA members are charged CRD system fees 

according to Section 4 of Schedule A to the FINRA 

By-Laws. 

8See Section (4)(b)(7) of Schedule A to the FINRA 

By-laws. 

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

10 15 U.S.C. 78f(b)(4). 

11 15 U.S.C. 78f(b)(5). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99281; File No. SR–NYSE– 

2023–51] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend Its 

Price List 

January 5, 2024. 

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 December 

29, 2023, New York Stock Exchange 

LLC (‘‘NYSE’’ 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 amend its 

Price List (the ‘‘Price List’’) with respect 

to the system processing fee for use of 

the Central Registration Depository 

(‘‘CRD’’ or ‘‘CRD system’’) collected by 

the Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’). The 

Exchange proposes to implement the fee 

change on January 2, 2024. 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 the 

Price List with respect to the system 

processing fee for use of CRD collected 

by FINRA.4 The Exchange proposes to 

implement the fee change effective 

January 2, 2024. 

FINRA collects and retains certain 

regulatory fees via CRD for the 

registration of associated persons of 

Exchange member organizations that are 

not FINRA members (‘‘Non-FINRA 

Member Organizations’’).5 CRD fees are 

user-based, and there is no distinction 

in the cost incurred by FINRA if the 

user is a FINRA member or a NonFINRA Member Organization. 

In 2020, FINRA amended certain fees 

assessed for use of the CRD system for 

implementation between 2022 and 

2024.6 The Exchange accordingly 

proposes to amend the Price List to 

mirror the system processing fee 

assessed by FINRA, which will be 

implemented concurrently with the 

amended FINRA fee as of January 2024.7

Specifically, the Exchange proposes to 

amend the Price List to modify the 

system processing fee charged to NonFINRA Member Organizations for each 

registered representative and principal 

from $45 to $70.8

The Exchange notes that the proposed 

change is not otherwise intended to 

address any other issues surrounding 

regulatory fees, and the Exchange is not 

aware of any problems that member 

organizations would have in complying 

with the proposed change. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,9 in general, and 

furthers the objectives of Section 

6(b)(4) 10 of the Act, in particular, in that 

it is designed to provide for the 

equitable allocation of reasonable dues, 

fees, and other charges. The Exchange 

also believes that the proposed rule 

change is consistent with Section 6(b)(5) 

of the Act,11 in that it is designed to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

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 and is not designed to 

permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes that the 

proposed fee change is reasonable 

because the fee will be identical to that 

adopted by FINRA as of January 2024 

for use of the CRD system for each of the 

member’s registered representatives and 

principals for system processing. The 

costs of operating and improving the 

CRD system are similarly borne by 

FINRA when a Non-FINRA Member 

Organization uses the CRD system; 

accordingly, the fees collected for such 

use should, as proposed by the 

Exchange, mirror the fees assessed to 

FINRA members. In addition, as FINRA 

noted in amending its fees, it believes 

that its proposed pricing structure is 

reasonable and correlates fees with the 

components that drive its regulatory 

costs to the extent feasible. The 

Exchange further believes that the 

change is reasonable because it will 

provide greater specificity regarding the 

CRD system fees that are applicable to 

Non-FINRA Member Organizations. All 

similarly situated member organizations 

are subject to the same fee structure, and 

every member organization must use the 


ddrumheller on DSK120RN23PROD with NOTICES1
1966 Federal Register / Vol. 89, No. 8 / Thursday, January 11, 2024 / Notices 

12See 15 U.S.C. 78f(b)(8). 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

CRD system for registration and 

disclosure. Accordingly, the Exchange 

believes that the fees collected for such 

use should likewise increase in lockstep 

with the fees assessed to FINRA 

members, as proposed by the Exchange. 

The Exchange further believes that the 

proposed fee change provides for the 

equitable allocation of reasonable fees 

and other charges, and does not unfairly 

discriminate between customers, 

issuers, brokers, and dealers. The fee 

applies equally to all individuals and 

firms required to report information the 

CRD system, and the proposed change 

will result in the same regulatory fees 

being charged to all member 

organizations required to report 

information to CRD and for services 

performed by FINRA regardless of 

whether such member organizations are 

FINRA members. Accordingly, the 

Exchange believes that the fee collected 

for such use should increase in lockstep 

with the fee adopted by FINRA as of 

January 2024, as proposed by the 

Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act,12 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. Specifically, 

the Exchange believes that the proposed 

change will reflect a fee that will be 

assessed by FINRA as of January 2024 

and will thus result in the same 

regulatory fee being charged to all 

member organizations required to report 

information to the CRD system and for 

services performed by FINRA, 

regardless of whether or not such 

member organizations are FINRA 

members. 

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 foregoing rule change has become 

effective upon filing pursuant to Section 

19(b)(3)(A) 13 of the Act and paragraph 

(f) thereunder. 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. 

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– 

NYSE–2023–51 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–NYSE–2023–51. 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–NYSE–2023–51 and should be 

submitted on or before February 1, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Christina Z. Milnor, 

Assistant Secretary. 

[FR Doc. 2024–00386 Filed 1–10–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99280; File No. SR– 

CboeEDGX–2024–002] 

Self-Regulatory Organizations; Cboe 

EDGX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Its 

Fee Schedule 

January 5, 2024. 

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 January 2, 

2024, Cboe EDGX Exchange, Inc. 

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

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III 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 

Cboe EDGX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGX’’) proposes to 

amend its Fee Schedule. The text of the 

proposed rule change is provided in 

Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

options/regulation/rule_filings/edgx/), 

at the Exchange’s Office of the 

Secretary, 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 

Exchange 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 these 

statements may be examined at the 


ddrumheller on DSK120RN23PROD with NOTICES1