Federal Register / Vol. 87, No. 52 / Thursday, March 17, 2022 / Notices 15283 

3This estimate is based on the number of 

registered management companies as calculated by 

the filing type: 1,403 N–1A registrants (13,248 

funds); 693 N–2 registrants (691 funds); 5 N–3 

registrants (14 funds); 417 N–4 registrants (418 

funds); 235 N–6 registrants (236 funds); 47 

N–8B–2 registrants (47 funds). 

4This estimate is based on the following 

calculation: 14,654 funds × $203 per filing × 2 

filings per year = $5,949,524. 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 93273 

(October 7, 2021), 86 FR 57237 (October 14, 2021) 

(SR–CboeBZX–2021–063) (Notice and Immediate 

Effectiveness of a Proposed Rule Change To List 

and Trade Shares of Hartford Large Cap Growth 

ETF, a Series of Hartford Funds Exchange-Traded 

Trust, Under Rule 14.11(m), Tracking Fund Shares 

(the ‘‘Original Filing’’)). Rule 14.11(m)(3)(A) 

provides that ‘‘[t]he term ‘‘Tracking Fund Share’’ 

means a security that (i) represents an interest in 

an investment company registered under the 

Continued 

TABLE 1—SUMMARY OF REVISED BURDEN HOURS FOR REPORTS ON FORM N–CSR 

Funds and filings Annual time burden (hours) 

Number of 

funds 

Number of 

annual filings 

Number of 

total filings 

Hour burden 

per fund per 

filing 

Total annual 

hour burden 

(A) (B) (C) = (A) × (B) (D) (E) = (C) × (D) 

Form N–CSR ....................................................................... 14,654 3 2 29,308 7.75 227,137 

In total, the Commission estimates it 

will take 227,137 burden hours per year 

for all funds to prepare and file reports 

on Form N–CSR. Commission staff 

estimates that the annual cost of outside 

services associated with Form N–CSR is 

approximately $203 per fund and the 

total annual external cost burden for 

Form N–CSR is $5,949,524.4

Estimates of average burden hours 

and costs are made solely for the 

purposes of the Paperwork Reduction 

Act, and are not derived from a 

comprehensive or even representative 

survey or study of the costs of 

Commission rules and forms. 

Compliance with the collection of 

information requirements of Form N– 

CSR is mandatory. Responses to the 

collection of information will not be 

kept confidential. An agency may not 

conduct or sponsor, and a person is not 

required to respond to a collection of 

information unless it displays a 

currently valid OMB control number. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: 

Lindsay.M.Abate@omb.eop.gov; 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 send an email to: PRA_

Mailbox@sec.gov. Written comments 

and recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice April 18, 2022 to 

www.reginfo.gov/public/do/PRAMain. 

Find this particular information 

collection by selecting ‘‘Currently under 

30-day Review—Open for Public 

Comments’’ or by using the search 

function. 

Dated: March 14, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–05679 Filed 3–16–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94402; File No. SR– 

CboeBZX–2022–016] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Reflect a 

Modification to the Permitted 

Components of the Tracking Basket of 

the Hartford Large Cap Growth ETF, 

and To Permit the Use of Custom 

Baskets by the Hartford Large Cap 

Growth ETF, the Invesco US Large Cap 

Core ETF, and the Invesco Real Assets 

ESG ETF 

March 11, 2022. 

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 March 4, 

2022, Cboe BZX Exchange, Inc. filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II 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’’) proposes to (i) 

permit the Hartford Large Cap Growth 

ETF (the ‘‘Fund’’), shares of which are 

listed and traded on the Exchange under 

BZX Rule 14.11(m), to include select 

securities from which a Fund’s 

investments are selected such as a 

broad-based market index (‘‘Investment 

Universe’’) in the Fund’s Tracking 

Basket, and (ii) permit the Fund and 

certain other series of Tracking Fund 

Shares that are listed and traded on the 

Exchange to use Custom Baskets. 

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 adopted BZX Rule 

14.11(m) for the purpose of permitting 

the listing and trading, or pursuant to 

unlisted trading privileges (‘‘UTP’’), of 

Tracking Fund Shares, which are 

securities issued by an actively managed 

open-end management investment 

company.3 Exchange Rule 


khammond on DSKJM1Z7X2PROD with NOTICES
15284 Federal Register / Vol. 87, No. 52 / Thursday, March 17, 2022 / Notices 

Investment Company Act of 1940 (‘‘Investment 

Company’’) organized as an open-end management 

investment company, that invests in a portfolio of 

securities selected by the Investment Company’s 

investment adviser consistent with the Investment 

Company’s investment objectives and policies; (ii) 

is issued in a specified aggregate minimum number 

in return for a deposit of a specified Tracking 

Basket and/or a cash amount with a value equal to 

the next determined net asset value; (iii) when 

aggregated in the same specified minimum number, 

may be redeemed at a holder’s request, which 

holder will be paid a specified Tracking Basket and/ 

or a cash amount with a value equal to the next 

determined net asset value; and (iv) the portfolio 

holdings for which are disclosed within at least 60 

days following the end of every fiscal quarter. Rule 

14.11(m)(3)(E) provides that ‘‘[t]he term ‘‘Tracking 

Basket’’ means the identities and quantities of the 

securities and other assets included in a basket that 

is designed to closely track the daily performance 

of the Fund Portfolio, as provided in the exemptive 

relief under the Investment Company Act of 1940 

applicable to a series of Tracking Fund Shares.’’ 

4See Investment Company Release No. 34324 

(July 7, 2021) 86 FR 36839 (July 13, 2021) (the 

Application) and 34351 (August 5, 2021) (the 

Exemptive Order) (File No. 812–15232). 

5See Investment Company Act Release No. 33683 

(November 14, 2019), 84 FR 64140 (November 20, 

2019) (the Fidelity notice of application) and 33712 

(December 10, 2019) (the Reference Order) (File No. 

812–14364). 

6See Investment Company Act Release No. 34326 

(July 9, 2021) 86 FR 37391 (July 15, 2021) (the 

Fidelity notice of application to amend the 

Reference Order) and 34350 (August 5, 2021) (the 

order granting the amendment to the Reference 

Order). 

7Similar to the Fund, the exemptive relief 

provided Invesco US Large Cap Core ETF and 

Invesco Real Assets ESG ETF incorporates by 

reference the terms and conditions of the same 

relief of the Reference Order, as that order may be 

amended from time to time. See Investment 

Company Act Release No. 34041 (October 1, 2020) 

85 FR 63325 (October 7, 2020) (the application for 

exemptive relief) and 34076 (October 27, 2020) (the 

exemptive order, together with the application for 

exemptive relief referred to as the ‘‘Invesco 

Exemptive Relief’’) (File No. 812–15141). Further, 

the shares of the Invesco US Large Cap Core ETF 

and Invesco Real Assets ESG ETF are listed and 

traded on the Exchange. See Securities and 

Exchange Act No. 90686 (December 16, 2020) 85 FR 

83657 (December 22, 2020) (SR–CboeBZX–2020– 

090) (Notice of filing and immediate effectiveness 

of a proposed rule to list and trade shares of the 

Invesco Real Assets ESG ETF and the Invesco US 

Large Cap Core ESG ETF, each a series of the 

Invesco Actively Managed Exchange-Traded Fund 

Trust, under Rule 14.11(m) (Tracking Fund 

Shares)). 

8Supra note 6. 

9See Securities and Exchange Act No. 93147 

(September 28, 2021) 86 FR 54772 (October 4, 2021) 

(SR–CboeBZX–2021–053) (Order granting approval 

of a proposed rule to change to amend Rule 

14.11(m) (Tracking Fund Shares) to provide the use 

of Custom Baskets consistent with the exemptive 

relief issued pursuant to the Investment Company 

Act of 1940 applicable to a series of Tracking Fund 

Shares). 

10BZX has already modified the listing rules for 

the Invesco US Large Cap Core ESG ETF and 

Invesco Real Assets ESG ETF to permit each of the 

funds to include select securities from its respective 

Investment Universe in the fund’s Tracking Basket. 

See Securities Exchange Act No. 93546 (November 

9, 2021) 86 FR 63429 (November 16, 2021) (SR– 

CboeBZX–2021–075) (Notice of filing and 

immediate effectiveness of a proposed rule change 

to reflect a modification to the permitted 

components of the Tracking Baskets of the Invesco 

Real Assets ESG ETF and Invesco US Large Cap 

Core ESG ETF). 

11 17 CFR 243.100–243.103. Regulation Fair 

Disclosure provides that whenever an issuer, or any 

person acting on its behalf, discloses material 

nonpublic information regarding that issuer or its 

securities to certain individuals or entities— 

generally, securities market professionals, such as 

stock analysts, or holders of the issuer’s securities 

who may well trade on the basis of the 

information—the issuer must make public 

disclosure of that information. 

14.11(m)(2)(A) requires the Exchange to 

file separate proposals under Section 

19(b) of the Act before listing and 

trading any series of Tracking Fund 

Shares on the Exchange. Pursuant to 

this provision, the Exchange submitted 

proposals to list and trade shares 

(‘‘Shares’’) of Tracking Fund Shares of 

the Fund. 

The Fund is an actively-managed 

exchange-traded fund for which the 

Hartford Funds Exchange-Traded Trust 

(the ‘‘Issuer’’) submitted an application 

for exemptive relief (the ‘‘Application’’) 

which was granted under an exemptive 

order (the ‘‘Exemptive Order’’, and the 

Exemptive Order together with the 

Application the ‘‘Exemptive Relief’’) 

issued on August 5, 2021.4 The Fund’s 

Application incorporated the conditions 

and requirements to an exemptive order 

from the SEC under the 1940 Act (15 

U.S.C. 80a–1) (the ‘‘Reference Order’’) 5

to Fidelity Management & Research 

Company and FMR Co., Inc., Fidelity 

Beach Street Trust, and Fidelity 

Distributors Corporation (collectively 

referred to as ‘‘Fidelity’’). Moreover, the 

relief in the Exemptive Order 

incorporates by reference terms and 

conditions of the same relief of the 

Reference Order, as that order may be 

amended from time to time. 

Pursuant to the Reference Order, 

funds operating under such Reference 

Order are required to publish a basket 

of securities and cash that, while 

different from the fund’s portfolio, is 

designed to closely track its daily 

performance (i.e., the Tracking Basket). 

Further, it provided that the Tracking 

Basket will solely consist of a 

combination of (i) select recently 

disclosed portfolio holdings (‘‘Strategy 

Components’’); (ii) liquid U.S. 

exchange-traded funds (‘‘ETFs’’) that 

convey information about the types of 

instruments (that are not otherwise fully 

represented by the Strategy 

Components) in which a fund invests 

(‘‘Representative ETFs’’); and (iii) cash 

and cash equivalents. 

On August 5, 2021, the Reference 

Order, and by incorporation the 

Exemptive Relief, was amended to, 

among other things, permit the Issuer to 

include select securities from which a 

Fund’s investments are selected such as 

a broad-based market index 

(‘‘Investment Universe’’) in the Fund’s 

Tracking Basket.6 Based on this change, 

the Exchange is submitting this proposal 

to permit the Fund to include select 

securities from the Investment Universe 

in the Fund’s Tracking Basket. Such an 

amendment will allow the Fund to 

utilize such provision in accordance 

with the amended Reference Order and 

its Exemptive Relief and the Exchange 

is updating the listing rule for the 

Shares accordingly. 

Pursuant to the Reference Order, the 

Fund and the Invesco US Large Cap 

Core ETF and Invesco Real Assets ESG 

ETF 7 (collectively, the ‘‘Fidelity Model 

Funds’’) create shares in return for a 

deposit by the purchaser of, and redeem 

shares at a holder’s request in return for, 

a Tracking Basket or cash. Furthermore, 

the original filings to list and trade 

shares of the Fidelity Model Funds 

provided that each of the Fidelity Model 

Fund would create and redeem their 

shares using the Tracking Basket or 

cash. The August 5, 2021 amendments 

to the Reference Order allow the 

Fidelity Model Funds to create and 

redeem their shares using cash, a 

Tracking Basket or a ‘‘Custom Basket’’, 

which is a creation or redemption unit 

that differs from a fund’s Tracking 

Basket.8 Additionally, on September 28, 

2021 the Commission approved the 

Exchange’s proposal to amend Exchange 

Rule 14.11(m) to provide for the use of 

Custom Baskets consistent with each of 

the Fidelity Model Funds respective 

exemptive relief.9

Now, the Exchange is submitting this 

proposal to modify representations 

made in the original filing of each 

Fidelity Model Fund that provided that 

creation and redemption will occur 

using the Tracking Basket or cash. 

Specifically, the proposal would permit 

the Fidelity Model Funds to use a 

Custom Basket, in addition to a 

Tracking Basket or cash, to create or 

redeem their shares in accordance with 

their respective exemptive relief and 

amended Exchange Rule 14.11(m).10

Accordingly, the issuers of each of the 

Fidelity Model Funds each represent 

that it and any person acting on behalf 

of such fund will comply with 

Regulation Fair Disclosure under the 

Act,11 including with respect to any 

Custom Basket. Each issuer also 

represents that for each Custom Basket 

utilized by each Fidelity Model Fund, 

each business day, before the opening of 

trading in Regular Trading Hours (as 

defined in Rule 1.5(w)), the investment 

company shall make publicly available 

on its website the composition of any 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 52 / Thursday, March 17, 2022 / Notices 15285 

12As defined in Rule 14.11(m)(3)(B), the term 

‘‘Fund Portfolio’’ means the identities and 

quantities of the securities and other assets held by 

the Investment Company that will form the basis for 

the Investment Company’s calculation of net asset 

value at the end of the business day. 

13Supra notes 3 and 6. 

14 15 U.S.C. 78f(b). 

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

16See Securities and Exchange Act No. 92946 

(September 13, 2021) 86 FR 51941 (September 17, 

2021) (SR–CboeBZX–2021–060) (Notice of filing 

and immediate effectiveness of a proposed rule 

change to reflect an Amendment to the Application 

and Exemptive Order governing the following 

funds, shares of which are listed and traded on the 

Exchange under BZX Rule 14.11(m): Fidelity 

Growth Opportunities ETF, Fidelity Magellan ETF, 

Fidelity Real Estate Investment ETF, Fidelity SmallMid Cap Opportunities ETF, Fidelity Blue Chip 

Value ETF, Fidelity Blue Chip Growth ETF, and 

Fidelity New Millennium ETF). See also supra note 

10. 

17Supra note 9. 

18Supra notes 3 and 6. 

Custom Basket transacted on the 

previous business day, except a Custom 

Basket that differs from the applicable 

Tracking Basket only with respect to 

cash. Finally, the adviser and subadviser to each of the Fidelity Model 

Funds each represent that a fire wall 

exists and will be maintained between 

the respective personnel at each of (i) 

the adviser and sub-adviser, and (ii) 

their respective affiliated broker-dealers 

with respect to access to information 

concerning the composition and/or 

changes to the applicable fund’s 

portfolio, Tracking Basket, and/or the 

Custom Basket, as applicable. 

Specifically, the adviser and the subadviser each represent that the 

personnel who make decisions on the 

applicable fund’s portfolio composition, 

Tracking Basket, and/or Custom Basket 

or who have access to nonpublic 

information regarding the Fund 

Portfolio,12 Tracking Basket, and/or 

Creation Basket or changes thereto are 

subject to procedures designed to 

prevent the use and dissemination of 

material non-public information 

regarding such portfolio, Tracking 

Basket, and/or Creation Basket. In the 

event that (a) the adviser or a subadviser becomes registered as a brokerdealer or newly affiliated with a brokerdealer; or (b) any new adviser or subadviser is a registered broker-dealer or 

becomes newly affiliated with a brokerdealer; it will implement and maintain 

a fire wall with respect to its relevant 

personnel or such broker-dealer affiliate, 

as applicable, regarding access to 

information concerning the composition 

and/or changes to the Fund Portfolio, 

Tracking Basket, and/or Creation Basket, 

and will be subject to procedures 

designed to prevent the use and 

dissemination of material nonpublic 

information regarding such portfolio, 

Tracking Basket, and/or Creation Basket. 

Any person or entity, including any 

service provider for any of the Fidelity 

Model Funds, who has access to 

nonpublic information regarding the 

Fund Portfolio, Tracking Basket, and/or 

Creation Basket or changes thereto for 

the Custom Basket Fund will be subject 

to procedures designed to prevent the 

use and dissemination of material 

nonpublic information regarding the 

Fund Portfolio, Tracking Basket or 

Creation Basket or changes thereto. 

Further, any such person or entity that 

is registered as a broker-dealer or 

affiliated with a broker-dealer, must 

have erected and will maintain a ‘‘fire 

wall’’ between the person or entity and 

the broker-dealer with respect to access 

to information concerning the 

composition and/or changes to such 

Fund Portfolio, Tracking Basket, or 

Creation Basket. 

Each of the Fidelity Model Funds will 

comply with the above-described 

conditions as well as the conditions of 

the Reference Order, as amended, and 

the Exchange is updating the listing rule 

for the Shares accordingly. Except for 

the changes noted above, all other 

representations made in prior filings for 

each Fidelity Model Fund 13 remain 

unchanged and will continue to 

constitute continued listing 

requirements for each of the Fidelity 

Model Funds. The Fidelity Model 

Funds will also continue to comply 

with the requirements of Rule 14.11(m). 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Act and 

the rules and regulations thereunder 

applicable to the Exchange and, in 

particular, the requirements of Section 

6(b) of the Act.14 Specifically, the 

Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 15 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. 

The proposed rule change is designed 

to perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest. The 

proposed amendments would (i) permit 

the Issuer to include select securities 

from the Fund’s Investment Universe in 

the Fund’s Tracking Basket, and (ii) 

permit each of the Fidelity Model Funds 

the use of Custom Baskets, as provided 

in the amended Reference Order. The 

proposed rule change would permit the 

Fidelity Model Funds to operate 

consistent with their respective 

exemptive relief, which incorporates the 

Reference Order that may be amended 

from time to time. The Exchange 

believes that the proposal to permit the 

Issuer to include select securities from 

the Fund’s Investment Universe in the 

Fund’s Tracking Basket raises no novel 

issues under the Act.16 Further, the 

Exchange believes the proposal to 

permit the Fidelity Model Funds the use 

of Custom Baskets is consistent with 

and contemplated by Rule 14.11(m), as 

amended, which the Commission found 

to be consistent with the Act.17

Except for the changes noted above, 

all other representations made in the 

prior filings for each of the Fidelity 

Model Funds 18 remain unchanged and, 

as noted, will continue to constitute 

continuing listing requirements for the 

Funds. 

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 purpose of the Act. As noted, the 

proposed amendments are intended to 

(i) permit the Issuer to include select 

securities from the Fund’s Investment 

Universe in the Fund’s Tracking Basket, 

and (ii) permit each of the Fidelity 

Model Funds the use of Custom Baskets, 

as provided in the amended Reference 

Order. The Exchange believes that these 

changes will not impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 


khammond on DSKJM1Z7X2PROD with NOTICES
15286 Federal Register / Vol. 87, No. 52 / Thursday, March 17, 2022 / Notices 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(6). 

21 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

satisfied this requirement. 

22 17 CFR 240.19b–4(f)(6). 

23 17 CFR 240.19b–4(f)(6)(iii). 

24See Securities Exchange Act Release Nos. 

93147, supra note 9, and 93546, supra note 10. 

25For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 26 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

19(b)(3)(A) of the Act 19 and Rule 19b– 

4(f)(6) 20 thereunder.21

A proposed rule change filed under 

Rule 19b–4(f)(6) 22 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),23 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 proposed 

rule change may take effect upon filing. 

The Exchange represents that the Funds 

will continue to comply with the 

requirements of BZX Rule 14.11(m). The 

Commission believes that waiver of the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest because the proposed 

rule change does not raise any new or 

novel issues.24 Accordingly, the 

Commission waives the 30-day 

operative delay and designates the 

proposal operative upon filing.25

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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

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– 

CboeBZX–2022–016 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–CboeBZX–2022–016. 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–CboeBZX–2022–016 and 

should be submitted on or before April 

7, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

Eduardo Aleman, 

Assistant Secretary. 

[FR Doc. 2022–05601 Filed 3–16–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94400; File No. SR– 

NASDAQ–2022–021] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Exchange Registration Rules in 

General 4 

March 11, 2022. 

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 March 7, 

2022, The Nasdaq Stock Market LLC 

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

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I and 

II below, which Items have been 

substantially 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 

The Exchange proposes to amend 

General 4, Rule 1240 (Continuing 

Education Requirements). While these 

amendments are effective upon filing, 

the Exchange has designated the 

proposed amendments to be operative 

on March 15, 2022. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://www.listingcenter.nasdaq.com/ 

rulebook/nasdaq/rules, 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 

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. 


khammond on DSKJM1Z7X2PROD with NOTICES