47350 Federal Register / Vol. 86, No. 161 / Tuesday, August 24, 2021 / Notices 

impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

30 15 U.S.C. 78f(b)(5). 

31 15 U.S.C. 78f(b)(1) and 78f(b)(6). 

32 17 CFR 240.19d–1(c)(2). 

33 15 U.S.C. 78s(b)(2). 

34 15 U.S.C. 78s(b)(2). 

35 17 CFR 240.19d–1(c)(2). 

36 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 92304 

(June 30, 2021), 86 FR 36440 (July 9, 2021). 

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

5 Id. 

Commission finds that the proposed 

rule change is consistent with Section 

6(b)(5) of the Act,30 which requires that 

the rules of an exchange be designed to 

promote just and equitable principles of 

trade, to remove impediments and to 

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 

Commission also believes that the 

proposal is consistent with Sections 

6(b)(1) and 6(b)(6) of the Act 31 which 

require that the rules of an exchange 

enforce compliance with, and provide 

appropriate discipline for, violations of 

Commission and Exchange rules. 

Finally, the Commission finds that the 

proposal is consistent with the public 

interest, the protection of investors, or 

otherwise in furtherance of the purposes 

of the Act, as required by Rule 19d– 

1(c)(2) under the Act,32 which governs 

minor rule violation plans. 

As stated above, the Exchange 

proposes to amend Rule 13.15(g) by: (1) 

Eliminating certain rule violations that 

the Exchange no longer believes to be 

minor in nature; (2) updating the fine 

schedule applicable to minor rule 

violations related to a Market-Maker’s 

failure to meet Exchange quoting 

obligations; and (3) making other nonsubstantive changes. 

The Commission believes that Rule 

13.15 is an effective way to discipline a 

member for a minor violation of a rule. 

The Commission finds that the 

Exchange’s proposal to eliminate rules 

that the Exchange no longer believes to 

be minor in nature from the MRVP and 

amending the fee schedule related to a 

Market-Maker’s failure to meet the 

Exchange’s quoting obligations is 

consistent with the Act because it may 

help the Exchange’s ability to better 

carry out its oversight and enforcement 

responsibilities. Lastly, the Commission 

also believes that the Exchange’s 

proposal to make non-substantive 

changes are consistent with the Act 

because they add clarity to the 

Exchange’s rules. 

In approving the propose rule change, 

the Commission in no way minimizes 

the importance of compliance with the 

Exchange’s rules and all other rules 

subject to fines under Rule 13.15. The 

Commission believes that a violation of 

any self-regulatory organization’s rules, 

as well as Commission rules, is a serious 

matter. However, Rule 13.15 provides a 

reasonable means of addressing rule 

violations that may not rise to the level 

of requiring formal disciplinary 

proceedings, while providing greater 

flexibility in handling certain violations. 

The Commission expects that the 

Exchange will continue to conduct 

surveillance with due diligence and 

make a determination based on its 

findings, on a case-by-case basis, 

whether a fine of more or less than the 

recommended amount is appropriate for 

a violation under Rule 13.15 or whether 

a violation requires formal disciplinary 

action. 

For the same reasons discussed above, 

the Commission finds good cause, 

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

Act,33 for approving the proposed rule 

change prior to the thirtieth day after 

the date of publication of the notice of 

the filing thereof in the Federal 

Register. The proposal will assist the 

Exchange in preventing fraudulent and 

manipulative practices by allowing the 

Exchange to adequately enforce 

compliance with, and provide 

appropriate discipline for, violations of 

Exchange rules. Accordingly, the 

Commission believes that a full noticeand-comment period is not necessary 

before approving the proposal. 

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act 34 and Rule 

19d–1(c)(2) thereunder,35 that the 

proposed rule change (SR–CBOE–2021– 

045) be, and hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.36

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18123 Filed 8–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92696; File No. SR– 

NYSEArca–2021–47] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change for New 

Rules 6.1P–O, 6.37AP–O, 6.40P–O, 

6.41P–O, 6.62P–O, 6.64P–O, 6.76P–O, 

and 6.76AP–O and Amendments to 

Rules 1.1, 6.1–O, 6.1A–O, 6.37–O, 

6.65A–O and 6.96–O 

August 18, 2021. 

On June 21, 2021, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change for new NYSE Arca Rules 6.1P– 

O, 6.37AP–O, 6.40P–O, 6.41P–O, 6.62P– 

O, 6.64P–O, 6.76P–O, and 6.76AP–O 

and amendments to NYSE Arca Rules 

1.1, 6.1–O, 6.1A–O, 6.37–O, 6.65A–O 

and 6.96–O. The proposed rule change 

was published for comment in the 

Federal Register on July 9, 2021.3 The 

Commission has received no comment 

letters on the proposed rule change. 

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

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding, or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is August 23, 

2021. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change. 

Accordingly, the Commission, pursuant 

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

designates October 7, 2021 as the date 

by which the Commission shall either 

approve or disapprove, or institute 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 161 / Tuesday, August 24, 2021 / Notices 47351 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 90677 

(December 15, 2020), 85 FR 83119 (December 21, 

2020) (‘‘Notice’’). Comments received on the 

proposal are available on the Commission’s website 

at: https://www.sec.gov/comments/sr-nyse-2020-96/ 

srnyse202096.htm. 

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

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–NYSEArca–2021–47). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18121 Filed 8–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–095, OMB Control No. 

3235–0084] 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Rule 17Ac2–1 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), 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 17Ac2–1 (17 CFR 240.17Ac2–1), 

under the Securities Exchange Act of 

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

Rule 17Ac2–1, pursuant to Section 

17A(c) of the Exchange Act, generally 

requires transfer agents for whom the 

Commission is the transfer agent’s 

Appropriate Regulatory Agency 

(‘‘ARA’’), to file an application for 

registration with the Commission on 

Form TA–1 and to amend their 

registrations under certain 

circumstances. 

Specifically, Rule 17Ac2–1 requires 

transfer agents to file a Form TA–1 

application for registration with the 

Commission where the Commission is 

their ARA. Such transfer agents must 

also amend their Form TA–1 if the 

existing information on their Form TA– 

1 becomes inaccurate, misleading, or 

incomplete within 60 days following the 

date the information became inaccurate, 

misleading or incomplete. Registration 

filings on Form TA–1 and amendments 

thereto must be filed with the 

Commission electronically, absent an 

exemption, on EDGAR pursuant to 

Regulation S–T (17 CFR 232). 

The Commission annually receives 

approximately 199 filings on Form TA– 

1 from transfer agents required to 

register as such with the Commission. 

Included in this figure are 

approximately 167 amendments made 

annually by transfer agents to their 

Form TA–1 as required by Rule 17Ac2– 

1(c) to address information that has 

become inaccurate, misleading, or 

incomplete and approximately 32 new 

applications by transfer agents for 

registration on Form TA–1 as required 

by Rule 17Ac2–1(a). Based on past 

submissions, the staff estimates that on 

average approximately twelve hours are 

required for initial completion of Form 

TA–1 and that on average one and onehalf hours are required for an 

amendment to Form TA–1 by each such 

firm. Thus, the subtotal burden for new 

applications for registration filed on 

Form TA–1 each year is approximately 

384 hours (12 hours times 32 filers = 

384) and the subtotal burden for 

amendments to Form TA–1 filed each 

year is approximately 251 hours (1.5 

hours times 167 filers = 250.5 rounded 

up to 251). The cumulative total is 

approximately 635 burden hours per 

year (384 hours plus 251 hours). 

Of the approximately 635 hours per 

year associated with Rule 17Ac2–1, the 

Commission staff estimates that (i) sixty 

percent (380.7 hours) are spent by 

compliance staff at an estimated hourly 

wage of $283, for a total of $107,738.10 

per year (380.7 hours × $283 per hour 

= $107, 738.10 per year; (ii) forty 

percent (253.8 hours) are spent by 

attorneys at an estimated hourly wage of 

$380, for a total of $96,444 per year 

(253.8 hours × $380 per hour = $96,444 

per year); and (iii) the total internal cost 

of compliance associated with the Rule 

is thus approximately $204,182.10 per 

year ($107,738.10 in compliance staff 

costs + $96,444 in attorney costs = 

$204,182.10 per year). 

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 Cynthia Roscoe, 100 F Street NE, 

Washington, DC 20549, or by sending an 

email to: PRA_Mailbox@sec.gov. 

Dated: August 18, 2021. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18109 Filed 8–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92700; File No. SR–NYSE– 

2020–96] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Disapproving a 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 

August 18, 2021. 

I. Introduction 

On December 2, 2020, New York 

Stock Exchange LLC (‘‘NYSE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’), pursuant to Section 

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

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

delete the maximum fee rates for 

forwarding proxy and other materials to 

beneficial owners set forth in NYSE 

Rules 451 and 465 and Section 402.10 

of the NYSE Listed Company Manual 

(‘‘Manual’’), and establish in their place 

a requirement for member organizations 

to comply with any schedule of 

approved charges set forth in the rules 

of any other national securities 

exchange or association of which such 

member organization is a member. The 

proposed rule change was published for 

comment in the Federal Register on 

December 21, 2020.3

On February 1, 2021, pursuant to 

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

Commission designated a longer period 

within which to approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 

determine whether to approve or 


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