Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 1463 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4The CRD system 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 selfregulatory 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. 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). 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. 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 17f–2(a) (17 CFR 240.17f–2(a)), 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78a et seq.). 

Rule 17f–2(a) (Fingerprinting 

Requirements for Securities 

Professionals) requires that securities 

professionals be fingerprinted. This 

requirement serves to identify securityrisk personnel, to allow an employer to 

make fully informed employment 

decisions, and to deter possible 

wrongdoers from seeking employment 

in the securities industry. Partners, 

directors, officers, and employees of 

exchanges, brokers, dealers, transfer 

agents, and clearing agencies are 

included. 

The Commission staff estimates that 

approximately 4,480 respondents will 

submit an aggregate total of 289,780 new 

fingerprint cards each year or 

approximately 65 fingerprint cards per 

year per registrant. The staff estimates 

that the average number of hours 

necessary to complete a fingerprint card 

is one-half hour. Thus, the total 

estimated annual burden is 144,890 

hours for all respondents (289,780 times 

one-half hour). The average internal cost 

of compliance per hour is 

approximately $283. Therefore, the total 

estimated annual internal cost of 

compliance for all respondents is 

$41,003,870 (144,890 times $283). 

This rule does not involve the 

collection of confidential information. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to (i) www.reginfo.gov/public/do/ 

PRAMain and (ii) David Bottom, 

Director/Chief Information Officer, 

Securities and Exchange Commission, 

c/o John R. Pezzullo, 100 F Street NE, 

Washington, DC 20549, or by sending an 

email to: PRA_Mailbox@sec.gov. 

Dated: January 5, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00255 Filed 1–10–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93904; File No. SR–NYSE– 

2021–77] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend Its 

Price List With Respect to a Regulatory 

Fee Related to the Central Registration 

Depository 

January 5, 2022. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on December 

22, 2021, 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 a regulatory fee related to the Central 

Registration Depository (‘‘CRD system’’), 

which is collected by the Financial 

Industry Regulatory Authority, Inc. 

(‘‘FINRA’’). The Exchange proposes to 

implement the fee change on January 2, 

2022. 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 a regulatory 

fee collected by FINRA for use of the 

CRD system.4 The Exchange proposes to 

implement the fee change on January 2, 

2022. 

FINRA collects and retains certain 

regulatory fees via the CRD system for 

the registration of associated persons of 

member organizations of the Exchange 

that are not FINRA members (‘‘NonFINRA Member Organizations’’).5 The 

CRD system fees are user-based, and 

there is no distinction in the cost 

incurred by FINRA if the user is a 

FINRA member or a Non-FINRA 

Member Organization. 

FINRA recently amended one of the 

fees assessed for use of the CRD 

system.6 Accordingly, the Exchange 

proposes to amend the Price List to 

mirror the fee assessed by FINRA, 

which will be implemented 

concurrently with the amended FINRA 

fee on January 2, 2022.7 Specifically, the 


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1464 Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 

8See Section 4(b)(1) of Schedule A to the FINRA 

By-Laws effective on January 2, 2022. This fee is 

assessed when a Non-FINRA Member Organization 

submits an initial Uniform Application for 

Securities Industry Regulation or Transfer (known 

as a ‘‘Form U4’’) filed by a member in the CRD 

system to register an individual. 

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

10 15 U.S.C. 78f(b)(4) & (5). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(2). 

13 15 U.S.C. 78s(b)(2)(B). 14 17 CFR 200.30–3(a)(12). 

Exchange proposes to amend the Price 

List to modify the fee charged to NonFINRA Member Organizations for each 

initial Form U4 filed for the registration 

of a representative or principal from 

$100 to $125.8

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 Sections 

6(b)(4) and 6(b)(5),10 in particular, 

because it provides for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members, 

issuers, and other persons using its 

facilities and does not unfairly 

discriminate 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 2, 2022 

for use of the CRD system to submit a 

Form U4. 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 also 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 to 

the CRD system, and the proposed 

change will 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 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 2, 2022, as is proposed by the 

Exchange. 

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. Specifically, 

the Exchange believes that the proposed 

change will reflect the fee that will be 

assessed by FINRA for Form U4 filings 

as of January 2, 2022 and will thus 

result in the same regulatory fees 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 is effective 

upon filing pursuant to Section 

19(b)(3)(A) 11 of the Act and 

subparagraph (f)(2) of Rule 19b–4 12

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

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) 13 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– 

NYSE–2021–77 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–2021–77. 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 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSE–2021–77 and should 

be submitted on or before February 1, 

2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00266 Filed 1–10–22; 8:45 am] 

BILLING CODE 8011–01–P 


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