Federal Register / Vol. 87, No. 9 / Thursday, January 13, 2022 / Notices 2189 

that relies on the Order in the future will comply 

with the terms and conditions of the Order and the 

terms and conditions of the Reference Order that 

are incorporated by reference into the Order. 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 92428 

(July 16, 2021), 86 FR 38776. 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 

92785A, 86 FR 50202 (September 7, 2021). 

6See Securities Exchange Act Release No. 93212, 

86 FR 55066 (October 5, 2021). 

7 15 U.S.C. 78s(b)(2). 

8 15 U.S.C. 78s(b)(2)(B)(ii)(I). 

9 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa). 

10 15 U.S.C. 78s(b)(2). 

11 17 CFR 200.30–3(a)(57). 

6. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security or transaction, or any 

class of persons, securities or 

transactions, from any provisions of the 

Act, if and to the extent that such 

exemption is necessary or appropriate 

in the public interest and consistent 

with the protection of investors and the 

purposes fairly intended by the policy 

and provisions of the Act. Section 17(b) 

of the Act authorizes the Commission to 

exempt a proposed transaction from 

section 17(a) of the Act if evidence 

establishes that the terms of the 

transaction, including the consideration 

to be paid or received, are reasonable 

and fair and do not involve 

overreaching on the part of any person 

concerned, and the transaction is 

consistent with the policies of the 

registered investment company and the 

general purposes of the Act. Section 

12(d)(1)(J) of the Act provides that the 

Commission may exempt any person, 

security, or transaction, or any class or 

classes of persons, securities or 

transactions, from any provision of 

section 12(d)(1) if the exemption is 

consistent with the public interest and 

the protection of investors. Applicants 

submit that for the reasons stated in the 

Reference Order the requested relief 

meets the exemptive standards under 

sections 6(c), 17(b) and 12(d)(1)(J) of the 

Act. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00598 Filed 1–12–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93933; File No. SR–NYSE– 

2021–40] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Designation of Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change 

To Adopt on a Permanent Basis the 

Pilot Program for Market-Wide Circuit 

Breakers in Rule 7.12 

January 7, 2022. 

I. Introduction 

On July 2, 2021, New York Stock 

Exchange LLC (‘‘NYSE’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposal to make its rules 

governing the operation of the MarketWide Circuit Breakers (‘‘MWCB’’) 

mechanism permanent. The proposed 

rule change was published for comment 

in the Federal Register on July 22, 

2021.3 On August 27, 2021, pursuant to 

Section 19(b)(2) of the Act,4 the 

Commission designated a longer period 

within which to either approve the 

proposed rule changes, disapprove the 

proposed rule changes, or institute 

proceedings to determine whether to 

disapprove the proposed change.5 On 

September 30, 2021, the Commission 

initiated proceedings to determine 

whether to approve or disapprove the 

proposed rule changes.6 The 

Commission has received no comments 

on the proposed rule change. 

Section 19(b)(2) of the Act 7 provide 

that, after instituting proceedings, the 

Commission shall issue an order 

approving or disapproving a proposed 

rule change not later than 180 days after 

the date of publication of notice of filing 

of the proposed rule change.8 The 

Commission may, however, extend the 

period for issuing an order approving or 

disapproving the proposed rule change 

by not more than 60 days if the 

Commission determines that a longer 

period is appropriate and publishes the 

reasons for such determination.9 The 

180th day for the proposed rule change 

is January 18, 2022. 

The Commission is extending the 180- 

day time period for Commission action 

on the proposed rule change. The 

Commission finds it appropriate to 

designate a longer period within which 

to issue an order approving or 

disapproving the proposed rule change 

so that it has sufficient time to consider 

the proposed rule change, including the 

sufficiency of the proposal’s ongoing 

assessment provisions. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the 

Act,10 designates March 19, 2022 as the 

date by which the Commission shall 

either approve or disapprove the 

proposed rule change (File No. SR– 

NYSE–2021–40). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00491 Filed 1–12–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93934; File No. SR–NYSE– 

2020–96] 

New York Stock Exchange LLC; Order 

Granting Petition for Review and 

Scheduling Filing of Statements 

Regarding an Order Disapproving 

Proposed Rule Change To Amend Its 

Rules Establishing Maximum Fee 

Rates To Be Charged by Member 

Organizations for Forwarding Proxy 

and Other Materials to Beneficial 

Owners 

January 7, 2022. 

This matter comes before the 

Securities and Exchange Commission 

(‘‘Commission’’) on petition to review 

the disapproval, pursuant to delegated 

authority, of the New York Stock 

Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) 

proposed rule change (File No. SR– 

NYSE–2020–96) to amend its rules 

establishing maximum fee rates to be 

charged by member organizations for 

forwarding proxy and other materials to 

beneficial owners. 

On December 15, 2020, the 

Commission issued a notice of filing of 

the proposed rule change with the 

Commission pursuant to Section 

19(b)(1) of the Securities Exchange Act 


jspears on DSK121TN23PROD with NOTICES1