Federal Register / Vol. 89, No. 39 / Tuesday, February 27, 2024 / Notices 14533 

1See 15 U.S.C. 7201 et seq. 

2See Commission Statement of Policy 

Reaffirming the Status of the FASB as a Designated 

Private-Sector Standard Setter, Release No. 33–8221 

(Apr. 25, 2003) [68 FR 23333 (May 1, 2003)]. 3The Financial Accounting Foundation’s Board 

of Trustees approved the FASB’s budget on Oct. 30, 

2023. The FAF submitted the approved budget to 

the Commission on Nov. 1, 2023. 

4See OMB Report to the Congress on the 

BBEDCA 251A Sequestration for Fiscal Year 2024, 

Continued 

CONTESTING RECORD PROCEDURES: 

An individual requesting amendment 

of their records should send a written 

request to the applicable System 

Manager or the Privacy Act Officer as 

identified above. DOI instructions for 

submitting a request for amendment of 

records are available on the DOI Privacy 

Act Requests website at https://

www.doi.gov/privacy/privacy-actrequests. The request must clearly 

identify the records for which 

amendment is being sought, the reasons 

for requesting the amendment, and the 

proposed amendment to the record. The 

request must include the requester’s full 

name, current address, and sufficient 

identifying information such as date of 

birth or other information required for 

verification of the requestor’s identity. 

The request must be signed and dated 

and be either notarized or submitted 

under penalty of perjury in accordance 

with 28 U.S.C. 1746. Requests submitted 

by mail must be clearly marked 

‘‘PRIVACY ACT REQUEST FOR 

AMENDMENT’’ on both the envelope 

and letter. A request to contest or amend 

records must meet the requirements of 

36 CFR 1008 and 36 CFR 1008.18 

(https://www.ecfr.gov/current/title-36/ 

section-1008.18)–.19, .22, .24. 

NOTIFICATION PROCEDURES: 

An individual requesting notification 

of the existence of records about them 

should send a written inquiry to the 

applicable System Manager as or the 

Privacy Act Officer identified above. A 

Privacy Act request must meet the 

requirements of 36 CFR 1008 (https://

www.ecfr.gov/current/title-36/chapterX/part-1008). The request must include 

a general description of the records and 

the requester’s full name, current 

address, and sufficient identifying 

information such as date of birth or 

other information required for 

verification of the requestor’s identity. 

The request must be signed and dated 

and be either notarized or submitted 

under penalty of perjury in accordance 

with 28 U.S.C. 1746. Requests submitted 

by mail must be clearly marked 

‘‘PRIVACY ACT INQUIRY’’ on both the 

envelope and letter. 

EXEMPTIONS PROMULGATED FOR THE SYSTEM: 

None. 

HISTORY: 

None. 

Luke Donohue, 

Director of Administration. 

[FR Doc. 2024–04006 Filed 2–26–24; 8:45 am] 

BILLING CODE 4310–4R–P 

RAILROAD RETIREMENT BOARD 

Actuarial Advisory Committee With 

Respect to the Railroad Retirement 

Account; Notice of Public Meeting 

Notice is hereby given in accordance 

with Public Law 92–463 that the 

Actuarial Advisory Committee will hold 

a virtual meeting on April 3, 2024, at 9 

a.m. (central standard time) on the

conduct of the 29th Actuarial Valuation

of the Railroad Retirement System. The

agenda for this meeting will include a

discussion of the assumptions to be

used in the 29th Actuarial Valuation. A

report containing recommended

assumptions and the experience on

which the recommendations are based

will have been sent by the Chief Actuary

to the Committee in advance of the

meeting.

The meeting will be open to the 

public. Persons wishing to submit 

written statements, make oral 

presentations, or attend the meeting 

should address their communications or 

notices to Patricia Pruitt 

(Patricia.Pruitt@rrb.gov) so that 

information on how to join the virtual 

meeting can be provided. 

Dated: February 22, 2024. 

Stephanie Hillyard, 

Secretary to the Board. 

[FR Doc. 2024–04016 Filed 2–26–24; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Securities Act of 1933 Release No. 11273/ 

February 22, 2024; Securities Exchange Act 

of 1934 Release No. 99583/February 22, 

2024] 

Order Regarding Review of Financial 

Accounting Standards Board (FASB) 

Accounting Support Fee for 2024 

Under Section 109 of the SarbanesOxley Act of 2002 

The Sarbanes-Oxley Act of 2002 

(‘‘SOX’’ or the ‘‘Act’’) provides that the 

Securities and Exchange Commission 

(the ‘‘Commission’’) may recognize, as 

generally accepted for purposes of the 

securities laws, any accounting 

principles established by a standardsetting body that meets certain criteria.1

Section 109 of SOX provides that all of 

the budget of such a standard-setting 

body shall be payable from an annual 

accounting support fee assessed and 

collected against each issuer, as may be 

necessary or appropriate to pay for the 

budget and provide for the expenses of 

the standard-setting body, and to 

provide for an independent, stable 

source of funding, subject to review by 

the Commission. Under Section 109(f) 

of the Act, the amount of fees collected 

for a fiscal year shall not exceed the 

‘‘recoverable budget expenses’’ of the 

standard-setting body. Section 109(i) of 

SOX amends Section 13(b)(2) of the 

Securities Exchange Act of 1934 to 

require issuers to pay the allocable share 

of a reasonable annual accounting 

support fee or fees, determined in 

accordance with Section 109 of the Act. 

On April 25, 2003, the Commission 

issued a policy statement concluding 

that the Financial Accounting Standards 

Board (‘‘FASB’’) and its parent 

organization, the Financial Accounting 

Foundation (‘‘FAF’’), satisfied the 

criteria for an accounting standardsetting body under the Act, and 

recognizing the FASB’s financial 

accounting and reporting standards as 

‘‘generally accepted’’ under Section 108 

of the Act.2 Accordingly, the 

Commission undertook a review of the 

FASB’s accounting support fee for 

calendar year 2024.3 In connection with 

its review, the Commission also 

reviewed the budget for the FAF and the 

FASB for calendar year 2024. 

Section 109 of SOX provides that, in 

addition to the accounting support fee, 

the standard-setting body can have 

additional sources of revenue for its 

activities, such as earnings from sales of 

publications, provided that each 

additional source of revenue shall not 

jeopardize, in the judgment of the 

Commission, the actual or perceived 

independence of the standard setter. In 

this regard, the Commission also 

considered the interrelation of the 

operating budgets of the FAF, the FASB, 

and the Governmental Accounting 

Standards Board (‘‘GASB’’), the FASB’s 

sister organization, which sets 

accounting standards used by state and 

local government entities. The 

Commission has been advised by the 

FAF that neither the FAF, the FASB, nor 

the GASB accept contributions from the 

accounting profession. 

The Commission understands that the 

Office of Management and Budget 

(‘‘OMB’’) has determined the FASB’s 

spending of the 2024 accounting 

support fee is sequestrable under the 

Budget Control Act of 2011.4 So long as 


lotter on DSK11XQN23PROD with NOTICES1
14534 Federal Register / Vol. 89, No. 39 / Tuesday, February 27, 2024 / Notices 

available at https://www.whitehouse.gov/wpcontent/uploads/2023/03/BBEDCA_Sequestration_

Report_and_Letter_3-13-2024.pdf. 

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

2 17 CFR 240.19b–4. 

3The Exchange initially filed the proposed fee 

changes on July 3, 2023 (SR–CboeBZX–2023–047). 

On September 1, 2023, the Exchange withdrew that 

filing and submitted SR–CboeBZX–2023–068. On 

September 29, 2023, the Securities and Exchange 

Commission issued a Suspension of and Order 

Instituting Proceedings to Determine whether to 

Approve or Disapprove a Proposed Rule Change to 

Amend its Fees Schedule Related to Physical Port 

Fees (the ‘‘OIP’’). On September 29, 2023, the 

Exchange filed the proposed fee change (SR– 

CboeBZX–2023–79). On October 13, 2023, the 

Exchange withdrew that filing and submitted SR– 

CboeBZX–2023–083. On December 12, 2023 the 

Exchange withdrew that filing and submitted SR– 

CboeBZX–2023–104. On February 9, 2024, the 

Exchange withdrew that filing and submitted this 

filing. 

4See e.g., The Nasdaq Stock Market LLC 

(‘‘Nasdaq’’), General 8, Connectivity to the 

Exchange. Nasdaq and its affiliated exchanges 

charge a monthly fee of $15,000 for each 10 Gb 

Ultra fiber connection to the respective exchange, 

which is analogous to the Exchange’s 10 Gb 

physical port. See also New York Stock Exchange 

LLC, NYSE American LLC, NYSE Arca, Inc., NYSE 

Chicago Inc., NYSE National, Inc. Connectivity Fee 

Schedule, which provides that 10 Gb LX LCN 

Circuits (which are analogous to the Exchange’s 10 

Gb physical port) are assessed $22,000 per month, 

per port. 

5The Affiliate Exchanges are also submitting 

contemporaneous identical rule filings. 

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

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

8 Id. 

9 15 U.S.C. 78f(b)(4). 

sequestration is applicable, we 

anticipate that the FAF will work with 

the Commission and Commission staff 

as appropriate regarding its 

implementation of sequestration. 

After its review, the Commission 

determined that the 2024 annual 

accounting support fee for the FASB is 

consistent with Section 109 of the Act. 

Accordingly, 

It is ordered, pursuant to Section 109 

of SOX, that the FASB may act in 

accordance with this determination of 

the Commission. 

By the Commission. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–03953 Filed 2–26–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99570; File No. SRCboeBZX–2024–017] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Its 

Fees Schedule Related to Physical 

Port Fees 

February 21, 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 February 

9, 2024, Cboe BZX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BZX’’) 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 BZX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BZX Options’’) 

proposes to amend its Fees 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/ 

equities/regulation/rule_filings/BZX/), 

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 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects 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 amend its 

fee schedule for its equity options 

platform (‘‘BZX Options’’) relating to 

physical connectivity fees.3

By way of background, a physical port 

is utilized by a Member or non-Member 

to connect to the Exchange at the data 

centers where the Exchange’s servers are 

located. The Exchange currently 

assesses the following physical 

connectivity fees for Members and nonMembers on a monthly basis: $2,500 per 

physical port for a 1 gigabit (‘‘Gb’’) 

circuit and $7,500 per physical port for 

a 10 Gb circuit. The Exchange proposes 

to increase the monthly fee for 10 Gb 

physical ports from $7,500 to $8,500 per 

port. The Exchange notes the proposed 

fee change better enables it to continue 

to maintain and improve its market 

technology and services and also notes 

that the proposed fee amount, even as 

amended, continues to be in line with, 

or even lower than, amounts assessed by 

other exchanges for similar 

connections.4 The physical ports may 

also be used to access the Systems for 

the following affiliate exchanges and 

only one monthly fee currently (and 

will continue) to apply per port: the 

Exchange’s equities platform (BZX 

Equities), Cboe EDGX Exchange, Inc. 

(options and equities platforms), Cboe 

BYX Exchange, Inc., Cboe EDGA 

Exchange, Inc., and Cboe C2 Exchange, 

Inc. (‘‘Affiliate Exchanges’’).5

Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.6 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 7 requirements that the rules of 

an exchange be 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 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. 

Additionally, the Exchange believes the 

proposed rule change is consistent with 

the Section 6(b)(5) 8 requirement that 

the rules of an exchange not be designed 

to permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange also believes the 

proposed rule change is consistent with 

Section 6(b)(4) 9 of the Act, which 

requires that Exchange rules provide for 

the equitable allocation of reasonable 

dues, fees, and other charges among its 

Members and other persons using its 

facilities. 

The Exchange believes the proposed 

fee change is reasonable as it reflects a 

moderate increase in physical 

connectivity fees for 10 Gb physical 

ports. Further, the current 10 Gb 


lotter on DSK11XQN23PROD with NOTICES1