1794 Federal Register / Vol. 87, No. 8 / Wednesday, January 12, 2022 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 90024 

(September 28, 2020), 85 FR 62353 (October 2, 

2020) (SR–NYSE–2020–76) (‘‘SR–NYSE–2020–76’’). 

5The Exchange may submit a separate rule filing 

to extend the expiration date of the proposed 

extension beyond March 31, 2022 if the Exchange 

requires additional temporary relief from the rule 

requirements identified in NYSE–SR–2020–76. The 

amended NYSE rules will revert back to their 

original state at the conclusion of the temporary 

relief period and any extension thereof. 

6See Securities Exchange Act Release No. 68678 

(January 16, 2013), 78 FR 5213 (January 24, 2013) 

(SR–NYSE–2013–02) (‘‘2013 Notice’’), 69045 

(March 5, 2013), 78 FR 15394 (March 11, 2013) (SR– 

NYSE–2013–02) (‘‘2013 Approval Order’’), and 

69963 (July 10, 2013), 78 FR 42573 (July 16, 2013) 

(SR–NYSE–2013–49). 

7See NYSE Information Memorandum 13–8 (May 

24, 2013). 

8See 2013 Approval Order, 78 FR at 15394, n.7 

& 15400; 2013 Notice, 78 FR at 5228 & 5234. 

1. Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of functions 

of the agency, including whether the 

information will have practical utility; 

2. Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

3. Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

4. Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

RI 38–117, Rollover Election, is used 

to collect information from each payee 

affected by a change in the tax code so 

that OPM can make payment in 

accordance with the wishes of the 

payee. RI 38–118, Rollover Information, 

explains the election. RI 37–22, Special 

Tax Notice Regarding Rollovers, 

provides more detailed information. 

Analysis 

Agency: Retirement Operations, 

Retirement Services, Office of Personnel 

Management. 

Title: Rollover Election, Rollover 

Information, and Special Tax Notice 

Regarding Rollover. 

OMB Number: 3206–0212. 

Frequency: On occasion. 

Affected Public: Individuals or 

Households. 

Number of Respondents: 1,500. 

Estimated Time per Respondent: 40 

minutes. 

Total Burden Hours: 1,000. 

Office of Personnel Management. 

Alexys Stanley, 

Regulatory Affairs Analyst. 

[FR Doc. 2022–00450 Filed 1–11–22; 8:45 am] 

BILLING CODE 6325–38–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93920; File No. SR–NYSE– 

2021–78] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Extending the 

Expiration Date of the Temporary 

Amendments to Rules 9261 and 9830 

January 6, 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 

27, 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 and II below, which Items have 

been prepared by the self-regulatory 

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 extending the 

expiration date of the temporary 

amendments to Rules 9261 and 9830 as 

set forth in SR–NYSE–2021–76 from 

December 31, 2021, to March 31, 2022, 

in conformity with recent changes by 

the Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’). The 

proposed rule change would not make 

any changes to the text of NYSE Rules 

9261 and 9830. 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 extending the 

expiration date of the temporary 

amendments as set forth in SR–NYSE– 

2020–76 4 to Rules 9261 (Evidence and 

Procedure in Hearing) and 9830 

(Hearing) from December 31, 2021, to 

March 31, 2022 to harmonize with 

recent changes by FINRA to extend the 

expiration date of the temporary 

amendments to its Rules 9261 and 9830. 

SR–NYSE–2020–76 temporarily granted 

to the Chief or Deputy Chief Hearing 

Officer the authority to order that 

hearings be conducted by video 

conference if warranted by public health 

risks posed by in-person hearings 

during the ongoing COVID–19 

pandemic. The proposed rule change 

would not make any changes to the text 

of Exchange Rules 9261 and 9830.5

Background 

In 2013, the NYSE adopted 

disciplinary rules that are, with certain 

exceptions, substantially the same as the 

FINRA Rule 8000 Series and Rule 9000 

Series, and which set forth rules for 

conducting investigations and 

enforcement actions.6 The NYSE 

disciplinary rules were implemented on 

July 1, 2013.7

In adopting disciplinary rules 

modeled on FINRA’s rules, the NYSE 

adopted the hearing and evidentiary 

processes set forth in Rule 9261 and in 

Rule 9830 for hearings in matters 

involving temporary and permanent 

cease and desist orders under the Rule 

9800 Series. As adopted, the text of Rule 

9261 is identical to the counterpart 

FINRA rule. Rule 9830 is substantially 

the same as FINRA’s rule, except for 

conforming and technical amendments.8


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 8 / Wednesday, January 12, 2022 / Notices 1795 

9See Securities Exchange Act Release No. 89737 

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

2020) (SR–FINRA–2020–027) (the ‘‘August 31 

FINRA Filing’’). 

10See note 4, supra. 

11See Securities Exchange Act Release No. 90619 

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

2020) (SR–FINRA–2020–042). 

12See Securities Exchange Act Release No. 90821 

(December 30, 2020), 86 FR 644 (January 6, 2021) 

(SR–NYSE–2020–107). 

13See Securities Exchange Act Release No. 91495 

(April 7, 2021), 86 FR 19306 (April 13, 2021) (SR– 

FINRA–2021–006). 

14See Securities Exchange Act Release No. 91629 

(April 22, 2021), 86 FR 22505 (April 28, 2021) (SR– 

NYSE–2020–27). 

15See Securities Exchange Act Release No. 92685 

(August 17, 2021), 86 FR 47169 (August 23, 2021) 

(SR–FINRA–2021–019). 

16See Securities Exchange Act Release No. 92907 

(September 9, 2021), 86 FR 51421 (September 15, 

2021) (SR–NYSE–2021–47). 

17See Securities Exchange Act Release No. 93758 

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

2021) (SR–FINRA–2021–031) (‘‘SR–FINRA–2021– 

031’’). FINRA noted that, for example, President Joe 

Biden on July 29, 2021, announced several 

measures to increase the number of people 

vaccinated against COVID–19 and to slow the 

spread of the Delta variant, including strengthening 

safety protocols for federal government employees 

and contractors. See https://www.whitehouse.gov/ 

briefing-room/statements-releases/2021/07/29/ 

factsheet-president-biden-to-announce-new-actionsto-get-more-americansvaccinated-and-slow-thespread-of-the-delta-variant/. Thereafter, the Biden 

Administration announced on November 4, 2021, 

details of two major vaccination policies to further 

help fight COVID–19. See https://

www.whitehouse.gov/briefing-room/statementsreleases/2021/11/04/factsheet-bidenadministration-announces-details-of-two-majorvaccination-policies/. Most recently, President 

Biden announced several new actions to help 

protect Americans against the Delta and Omicron 

variants. See https://www.whitehouse.gov/briefingroom/statements-releases/2021/12/02/factsheetpresident-biden-announces-new-actions-to-protectamericans-against-thedelta-and-omicron-variantsas-we-battle-covid-19-this-winter/. See SR–FINRA– 

2021–031, 86 FR at 71695, n. 6. 

18For instance, FINRA noted that the Centers for 

Disease Control and Prevention (‘‘CDC’’) recently 

announced that the first confirmed case of COVID– 

19 caused by the Omicron variant was detected in 

the United States. See https://www.cdc.gov/media/ 

releases/2021/s1201-omicron-variant.html. The 

CDC also recommends that fully vaccinated people 

wear a mask in public indoor settings in areas of 

substantial or high transmission and noted that 

fully vaccinated people might choose to wear a 

mask regardless of the level of transmission, 

particularly if they are immunocompromised or at 

increased risk for severe disease from COVID–19. 

See https://www.cdc.gov/coronavirus/2019-ncov/ 

vaccines/fully-vaccinated-guidance.html. 

Furthermore, as FINRA also noted, numerous states 

currently have COVID–19 restrictions in place. Six 

states (Hawaii, Illinois, Nevada, New Mexico, 

Oregon, and Washington) require most people to 

wear masks in indoor public places regardless of 

vaccination status, and three states (California, 

Connecticut, and New York) have mask mandates 

in indoor public places for those individuals who 

are unvaccinated. Several other states have mask 

mandates in certain settings, such as healthcare 

facilities, schools, and correctional facilities. See 

SR–FINRA–2021–031, 86 FR at 71696, n. 7. 

19See SR–FINRA–2021–031, 86 FR at 71695–96. 

20See SR–FINRA–2021–031, 86 FR at 71695. 

21See note 17, supra. 

22See note 18, supra. 

23See SR–FINRA–2021–031, 86 FR at 71695. 

In response to the COVID–19 global 

health crisis and the corresponding 

need to restrict in-person activities, on 

August 31, 2020, FINRA filed with the 

Commission a proposed rule change for 

immediate effectiveness, SR–FINRA– 

2020–027, which allowed FINRA’s 

Office of Hearing Officers (‘‘OHO’’) to 

conduct hearings, on a temporary basis, 

by video conference, if warranted by the 

current COVID–19-related public health 

risks posed by an in-person hearing. 

Among the rules FINRA amended were 

Rules 9261 and 9830.9

Given that FINRA and OHO 

administers disciplinary hearings on the 

Exchange’s behalf, and that the public 

health concerns addressed by FINRA’s 

amendments apply equally to Exchange 

disciplinary hearings, on September 15, 

2020, the Exchange filed to temporarily 

amend Rule 9261 and Rule 9830 to 

permit FINRA to conduct virtual 

hearings on its behalf.10 In December 

2020, FINRA filed a proposed rule 

change, SR–FINRA–2020–042, to extend 

the expiration date of the temporary 

amendments in SR–FINRA–2020–027 

from December 31, 2020, to April 30, 

2021.11 On December 22, 2020, the 

Exchange filed to extend the temporary 

amendments to Rule 9261 and Rule 

9830 to April 30, 2021.12 On April 1, 

2021, FINRA filed a proposed rule 

change, SR–FINRA–2021–006, to extend 

the expiration date of the temporary rule 

amendments to, among other rules, 

FINRA Rule 9261 and 9830 from April 

30, 2021, to August 31, 2021.13 On April 

20, 2021, the Exchange filed to extend 

the temporary amendments to Rule 9261 

and Rule 9830 to August 31, 2021.14 On 

August 13, 2021, FINRA filed a 

proposed rule change, SR–FINRA– 

2021–019, to extend the expiration date 

of the temporary amendments to, among 

other rules, FINRA Rule 9261 and 9830 

from August 31, 2021, to December 31, 

2021.15 On August 27, 2021, the 

Exchange filed to extend the temporary 

amendments to Rule 9261 and Rule 

9830 to December 31, 2021, after which 

the temporary amendments will expire 

absent another proposed rule change 

filing by the Exchange.16

While there are signs of improvement, 

FINRA has determined that much 

uncertainty remains for the coming 

months. The presence of the Delta 

variant, dissimilar vaccination rates 

throughout the United States, and the 

uptick in transmissions in many 

locations indicate that COVID–19 

remains an active and real public health 

concern.17 Due to the uncertainty and 

the lack of a clear timeframe for a 

sustained and widespread abatement of 

COVID–19-related health concerns and 

corresponding restrictions,18 FINRA 

believes that there is a continued need 

for temporary relief beyond December 

31, 2021.19 On December 7, 2021, 

FINRA accordingly filed to extend the 

expiration date of the temporary rule 

amendments to, among other rules, 

FINRA Rule 9261 and 9830 from 

December 31, 2021, to March 31, 

2022.20

Proposed Rule Change 

Consistent with FINRA’s recent 

proposal, the Exchange proposes to 

extend the expiration date of the 

temporary rule amendments to NYSE 

Rules 9261 and 9830 as set forth in SR– 

NYSE–2020–76 from December 31, 

2021, to March 31, 2022. 

As set forth in SR–FINRA 2021–031, 

while there are signs of improvement, 

much uncertainty remains for the 

coming months. The presence of the 

Delta variant, dissimilar vaccination 

rates throughout the United States, and 

the uptick in transmissions in many 

locations indicate that COVID–19 

remains an active and real public health 

concern.21 Due to the uncertainty and 

the lack of a clear timeframe for a 

sustained and widespread abatement of 

COVID–19-related health concerns and 

corresponding restrictions,22 FINRA 

believes that there is a continued need 

for temporary relief beyond December 

31, 2021.23 FINRA accordingly 

proposed to extend the expiration date 

of the temporary rule amendments from 

December 31, 2021, to March 31, 2022. 

The Exchange proposes to similarly 

extend the expiration date of the 

temporary rule amendments to NYSE 

Rules 9261 and 9830 as set forth in SR– 

NYSE–2020–76 from December 31, 

2021, to March 31, 2022. The Exchange 

agrees with FINRA that, while there are 

signs of improvement, much uncertainty 

remains for the coming months. The 

Exchange also agrees that, due to the 

uncertainty and the lack of a clear 

timeframe for a sustained and 

widespread abatement of COVID–19- 

related health concerns and 

corresponding restrictions, for the 

reasons set forth in SR–FINRA–2021– 

031, there is a continued need for this 

temporary relief beyond December 31, 

2021. The proposed change would 

permit OHO to continue to assess, based 

on critical COVID–19 data and criteria 

and the guidance of health and security 

consultants, whether an in-person 

hearing would compromise the health 

and safety of the hearing participants 

such that the hearing should proceed by 

video conference. As noted in SR– 


lotter on DSK11XQN23PROD with NOTICES1
1796 Federal Register / Vol. 87, No. 8 / Wednesday, January 12, 2022 / Notices 

24See SR–FINRA–2021–031, 86 FR at 71695, n. 

13. 

25 15 U.S.C. 78f(b). 

26 15 U.S.C. 78f(b)(5). 

27 15 U.S.C. 78f(b)(7) & 78f(d). 28 15 U.S.C. 78f(b)(7) & 78f(d). 

29 15 U.S.C. 78s(b)(3)(A)(iii). 

30 17 CFR 240.19b–4(f)(6). 

31 17 CFR 240.19b–4(f)(6). 

32 17 CFR 240.19b–4(f)(6)(iii). 

FINRA–2021–031, in deciding whether 

to schedule a hearing by video 

conference, OHO may consider a variety 

of other factors in addition to COVID– 

19 trends. Similarly, as noted in SR– 

FINRA–2021–031, in SR–FINRA–2020– 

027, FINRA provided a non-exhaustive 

list of other factors OHO may take into 

consideration, including a hearing 

participant’s individual health concerns 

and access to the connectivity and 

technology necessary to participate in a 

video conference hearing.24 The 

Exchange believes that this is a 

reasonable procedure to continue to 

follow for hearings under Rules 9261 

and 9830 chaired by a FINRA employee. 

As noted below, the Exchange has 

filed the proposed rule change for 

immediate effectiveness and has 

requested that the SEC waive the 

requirement that the proposed rule 

change not become operative for 30 days 

after the date of the filing, so the 

Exchange can implement the proposed 

rule change immediately. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Act,25 in general, and furthers the 

objectives of Section 6(b)(5),26 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.27

The Exchange believes that the 

proposed rule change supports the 

objectives of the Act by providing 

greater harmonization between 

Exchange rules and FINRA rules of 

similar purpose, resulting in less 

burdensome and more efficient 

regulatory compliance. As such, the 

proposed rule change will foster 

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 proposed rule change, which 

extends the expiration date of the 

temporary amendments to Exchange 

rules consistent with FINRA’s extension 

to its Rules 9261 and 9830 as set forth 

in SR–FINRA–2021–031, will permit the 

Exchange to continue to effectively 

conduct hearings during the COVID–19 

pandemic. Given the current and 

frequently changing COVID–19 

conditions and the uncertainty around 

when those conditions will see 

meaningful, widespread and sustained 

improvement, without this relief 

allowing OHO to proceed by video 

conference, some or all hearings may 

have to be postponed. The ability to 

conduct hearings by video conference 

will permit the adjudicatory functions 

of the Exchange’s disciplinary rules to 

continue unabated, thereby avoiding 

protracted delays. 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 

continue to proceed without delay, 

thereby enabling the Exchange to 

continue to take immediate action to 

stop significant, ongoing customer 

harm, to the benefit of the investing 

public. 

As set forth in detail in the SR– 

NYSE–2020–76, the temporary relief to 

permit hearings to be conducted via 

video conference maintains fair process 

and will continue to provide fair 

process consistent with Sections 6(b)(7) 

and 6(d) of the Act 28 while striking an 

appropriate balance between providing 

fair process and enabling the Exchange 

to fulfill its statutory obligations to 

protect investors and maintain fair and 

orderly markets while avoiding the 

COVID–19-related public health risks 

for hearing participants. The Exchange 

notes that this proposal, like SR–NYSE– 

2020–76, provides only temporary 

relief. As proposed, the changes would 

be in place through March 31, 2022. As 

noted in SR–NYSE–2020–76 and above, 

the amended rules will revert back to 

their original state at the conclusion of 

the temporary relief period and, if 

applicable, any extension thereof. 

Accordingly, the proposed rule 

change extending this temporary relief 

is in the public interest and consistent 

with the Act’s purpose. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed temporary 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 provide 

continued temporary relief given the 

impacts of the COVID–19 pandemic and 

the related health and safety risks of 

conducting in-person activities. The 

Exchange believes that the proposed 

rule change will prevent unnecessary 

impediments to critical adjudicatory 

processes and its ability to fulfill its 

statutory obligations to protect investors 

and maintain fair and orderly markets 

that would otherwise result if the 

temporary amendments were to expire 

on December 31, 2021. 

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 

19(b)(3)(A)(iii) of the Act 29 and Rule 

19b–4(f)(6) thereunder.30 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. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 31 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),32 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. The Exchange has indicated that 

the proposed rule change to extend the 

expiration date will continue to prevent 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 8 / Wednesday, January 12, 2022 / Notices 1797 

33See supra Item II. 

34See SR–FINRA–2021–031 at 71698 (noting the 

same with respect to the health and safety of FINRA 

employees in granting FINRA’s request to waive the 

30-day operative delay so that SR–FINRA–2021– 

031 would become operative immediately upon 

filing). 

35See supra note 4. 

36See supra note 5. As noted above, the Exchange 

states that if it requires temporary relief from the 

rule requirements identified in this proposal 

beyond March 31, 2022 it may submit a separate 

rule filing to extend the effectiveness of the 

temporary relief under these rules. 

37For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule change’s impact on efficiency, 

competition, and capital formation. See 15 U.S.C. 

78c(f). 

38 15 U.S.C. 78s(b)(2)(B). 

39 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. 

4See Securities Exchange Act Release No. 92256 

(June 24, 2021), 86 FR 34815 (June 30, 2021). 

Comments received on the proposal are available on 

the Commission’s website at: https://www.sec.gov/ 

comments/sr-nasdaq-2021-045/srnasdaq2021045.

htm. 

5 15 U.S.C. 78s(b)(2). 

6See Securities Exchange Act Release No. 92649 

(August 12, 2021), 86 FR 46295 (August 18, 2021). 

The Commission designated September 28, 2021, as 

the date by which it should approve, disapprove, 

or institute proceedings to determine whether to 

disapprove the proposed rule change. 

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

unnecessary impediments to its critical 

adjudicatory processes, and its ability to 

fulfill its statutory obligations to protect 

investors and maintain fair and orderly 

markets, that would otherwise result if 

the temporary amendments were to 

expire on December 31, 2021.33

Importantly, the Exchange has also 

stated that extending the relief provided 

in SR–NYSE–2020–76 immediately 

upon filing and without a 30-day 

operative delay will allow the Exchange 

to continue critical adjudicatory and 

review processes in a reasonable and 

fair manner and meet its critical 

investor protection goals, while also 

following best practices with respect to 

the health and safety of hearing 

participants.34 The Commission also 

notes that this proposal extends without 

change the temporary relief previously 

provided by SR–NYSE–2020–76.35 As 

proposed, the changes would be in 

place through March 31, 2022 and the 

amended rules will revert back to their 

original state at the conclusion of the 

temporary relief period and, if 

applicable, any extension thereof.36 For 

these reasons, the Commission believes 

that waiver of the 30-day operative 

delay for this proposal is consistent 

with the protection of investors and the 

public interest. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposal operative upon filing.37

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) 38 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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2021–78 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–2021–78. 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 (http://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–2021–78 and should 

be submitted on or before February 2, 

2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.39

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00382 Filed 1–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93924; File No. SR– 

NASDAQ–2021–045] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing of Proposed Rule Change, as 

Modified by Amendment No. 2, To 

Modify Certain Pricing Limitations for 

Companies Listing in Connection With 

a Direct Listing Primary Offering 

January 6, 2022. 

On June 11, 2021, The Nasdaq Stock 

Market LLC (‘‘Nasdaq’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

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

of 1934 (‘‘Act’’) 2 and Rule 19b–4 

thereunder,3 a proposed rule change to 

modify certain pricing limitations for 

companies listing in connection with a 

direct listing primary offering in which 

the company will sell shares itself in the 

opening auction on the first day of 

trading on the Exchange. The proposed 

rule change was published for comment 

in the Federal Register on June 30, 

2021.4 On August 12, 2021, pursuant to 

Section 19(b)(2) of the Act,5 the 

Commission designated a longer period 

within which to either approve or 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether to disapprove the proposed 

rule change.6 On September 24, 2021, 

the Commission instituted proceedings 

under Section 19(b)(2)(B) of the Act 7 to 

determine whether to approve or 


lotter on DSK11XQN23PROD with NOTICES1