Federal Register / Vol. 86, No. 168 / Thursday, September 2, 2021 / Notices 49357 

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

2 17 CFR 240.19b–4. 

However, this may place unnecessary 

application and grant administration 

burdens on applicants who wish to 

apply for, and carry out, only an 

Enhancement Grant. For example, such 

applicants may not want to apply for 

and administer a Basic Grant but are 

simply looking for a grant to support a 

larger project. 

Eliminating the requirement to first 

apply for a Basic Grant would make it 

possible for Tribes to apply for an 

Enhancement Grant only and still allow 

them to apply for both an Enhancement 

Grant and a Basic Grant if they wish. 

This change is intended to give 

applicants the flexibility to apply for the 

grant(s) that best suit their needs. 

Information Requested 

IMLS invites input from all Tribal 

communities, including but not limited 

to individuals, Tribal governments, 

libraries, archives, museums, 

institutions of higher education, and 

cultural heritage centers. 

Organizations are strongly encouraged 

to submit a single response that reflects 

the views of their organization and 

membership as a whole. 

IMLS asks you to consider the 

following when reflecting on the 

proposed elimination of the requirement 

that Indian tribes wishing to apply for 

an Enhancement Grant apply first for a 

Basic Grant in the same year: 

• How might the elimination of this 

requirement benefit the Tribe(s) with 

which you have close relationships? 

• How might the elimination of this 

requirement harm or result in an 

unexpected negative consequence for 

the Tribe(s) with which you have close 

relationships? 

• Taking the potential benefits and 

negative consequences into account, do 

you recommend we eliminate or keep 

the requirement as is? 

• What other suggestions do you have 

for improving these two grant programs? 

• What else would you like to see 

IMLS do to minimize the grant-related 

administrative burden for its applicants 

and awardees? 

Responses 

Responses to this RFI are voluntary. 

Please do not include any personally 

identifiable information or any 

information that you do not wish to 

make public. Proprietary, classified, 

confidential, or sensitive information 

should not be included in your 

response. The Government will use the 

information submitted in response to 

this RFI at its discretion. The 

Government reserves the right to use 

any submitted information on public 

websites, in reports, in any possible 

resultant solicitation(s), grant(s), or 

cooperative agreement(s), or in the 

development of future funding 

opportunity announcements. 

This request is for information and 

planning purposes only and should not 

be construed as a solicitation or as an 

obligation on the part of the United 

States Government. IMLS will not make 

any awards based on responses to this 

RFI or pay for the preparation of any 

information submitted or for the 

Government’s use of such information. 

Dated: August 30, 2021. 

Kim Miller, 

Senior Grants Management Specialist, 

Institute of Museum and Library Services. 

[FR Doc. 2021–19017 Filed 9–1–21; 8:45 am] 

BILLING CODE 7036–01–P 

NATIONAL SCIENCE FOUNDATION 

Sunshine Act Meetings 

The National Science Board’s (NSB) 

Committee on External Engagement 

hereby gives notice of the scheduling of 

a teleconference for the transaction of 

National Science Board business 

pursuant to the National Science 

Foundation Act and the Government in 

the Sunshine Act. 

TIME AND DATE: Wednesday, September 

8, 2021, from 1:00–2:00 p.m. EDT. 

PLACE: This meeting will be held by 

teleconference through the National 

Science Foundation. 

STATUS: Open. 

MATTERS TO BE CONSIDERED: The agenda 

of the teleconference is to plan NSB 

engagement activities for the fall and 

winter. 

CONTACT PERSON FOR MORE INFORMATION: 

Point of contact for this meeting is: 

Nadine Lymn, nlymn@nsf.gov, 703/292– 

7000. To listen to this teleconference, 

members of the public must send an 

email to nationalsciencebrd@nsf.gov at 

least 24 hours prior to the 

teleconference. The National Science 

Board Office will send requesters a tollfree dial-in number. Meeting 

information and updates may be found 

at the National Science Board website at 

www.nsf.gov/nsb. 

Chris Blair, 

Executive Assistant to the National Science 

Board Office. 

[FR Doc. 2021–19145 Filed 8–31–21; 4:15 pm] 

BILLING CODE 7555–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92790; File No. SR– 

NASDAQ–2021–065] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing of Proposed Rule Change To 

Amend Nasdaq Rule 5750 (Proxy 

Portfolio Shares) To Provide for the 

Use of Custom Baskets Consistent 

With the Exemptive Relief Issued 

Pursuant to the Investment Company 

Act of 1940 Applicable to a Series of 

Proxy Portfolio Shares 

August 27, 2021. 

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 August 

25, 2021, 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 

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 

Nasdaq Rule 5750 (Proxy Portfolio 

Shares) to provide for the use of 

‘‘Custom Baskets’’ consistent with the 

exemptive relief issued pursuant to the 

Investment Company Act of 1940 

applicable to a series of Proxy Portfolio 

Shares. The text of the proposed rule 

change is provided in Exhibit 5. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://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 


lotter on DSK11XQN23PROD with NOTICES1
49358 Federal Register / Vol. 86, No. 168 / Thursday, September 2, 2021 / Notices 

3Nasdaq Rule 5750 defines the term ‘‘Proxy 

Portfolio Share’’ as a security that: (A) Represents 

an interest in an investment company registered 

under the 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; (B) is issued in a specified aggregate 

minimum number in return for a deposit of a 

specified Proxy Basket and/or a cash amount with 

a value equal to the next determined net asset 

value; (C) when aggregated in the same specified 

minimum number, may be redeemed at a holder’s 

request, which holder will be paid specified Proxy 

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

the next determined net asset value; and (D) the 

portfolio holdings for which are disclosed within at 

least 60 days following the end of every fiscal 

quarter. 

4 15 U.S.C. 80a et seq. 

5 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. 

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 proposes to amend 

Nasdaq Rule 5750 (Proxy Portfolio 

Shares) 3 to provide for the use of 

‘‘Custom Baskets’’ consistent with the 

exemptive relief issued pursuant to the 

Investment Company Act of 1940 4

applicable to a series of Proxy Portfolio 

Shares. 

To effectuate this change, the 

Exchange proposes the following 

amendments to Nasdaq Rule 5750: 

First, the proposed rule change adopts 

new subparagraph (c)(6) under Nasdaq 

Rule 5750 (Definitions), which defines 

‘‘Custom Basket’’, for the purposes of 

Nasdaq Rule 5750, to mean a portfolio 

of securities that is different from the 

Proxy Basket and is otherwise 

consistent with the exemptive relief 

issued pursuant to the Investment 

Company Act of 1940 applicable to a 

series of Proxy Portfolio Shares. The 

proposed rule change makes conforming 

amendments to the definition of Proxy 

Portfolio Shares in Nasdaq Rule 

5750(c)(1) and Reporting Authority in 

Nasdaq Rule 5750(c)(3). The proposed 

rule change amends the definition of 

‘‘Proxy Portfolio Share’’ in Nasdaq Rule 

5750(c)(1) to provide for creations of 

shares in return for a deposit by the 

purchaser of, and redemptions of shares 

at a holder’s request in return for, a 

Custom Basket rather than a Proxy 

Basket to the extent permitted by a 

fund’s exemptive relief. 

In addition, the proposed rule change 

amends the definition of ‘‘Reporting 

Authority’’ in respect of a particular 

series of Proxy Portfolio Shares in 

Nasdaq Rule 5750(c)(3) to provide for 

Custom Baskets to the extent permitted 

by a fund’s exemptive relief. Currently, 

‘‘Reporting Authority’’ in respect of a 

particular series of Proxy Portfolio 

Shares means the Exchange, an 

institution, or a reporting service 

designated by the Exchange or by the 

exchange that lists a particular series of 

Proxy Portfolio Shares (if the Exchange 

is trading such series pursuant to 

unlisted trading privileges) as the 

official source for calculating and 

reporting information relating to such 

series, including, but not limited to, the 

Proxy Basket; the Fund Portfolio; the 

amount of any cash distribution to 

holders of Proxy Portfolio Shares, net 

asset value, or other information relating 

to the issuance, redemption or trading of 

Proxy Portfolio Shares. Nasdaq Rule 

5750(c)(3) further provides that a series 

of Proxy Portfolio Shares may have 

more than one Reporting Authority, 

each having different functions. The 

proposed rule change adds ‘‘Custom 

Basket’’ to the non-exclusive list of 

information relating to Proxy Portfolio 

Shares that a Reporting Authority 

calculates and reports, i.e., including, 

but not limited to, the Proxy Basket; the 

Fund Portfolio; the amount of any cash 

distribution to holders of Proxy 

Portfolio Shares, net asset value, or 

other information relating to the 

issuance, redemption or trading of 

Proxy Portfolio Shares. 

Second, the proposed rule change 

amends Nasdaq Rule 5750(d) (Initial 

and Continued Listing), which currently 

provides criteria that Proxy Portfolio 

Shares must satisfy for initial and 

continued listing on the Exchange, to 

incorporate specific initial and 

continued listing criteria for Custom 

Baskets. Specifically, Nasdaq Rule 

5750(d)(1)(B) currently provides that the 

Exchange will obtain a representation 

from the issuer of each series of Proxy 

Portfolio Shares that the net asset value 

per share for the series will be 

calculated daily and that each of the 

following will be made available to all 

market participants at the same time 

when disclosed: The net asset value, the 

Proxy Basket, and the Fund Portfolio. 

The proposed rule change adopts an 

additional requirement in Nasdaq Rule 

5750(d)(1)(B) providing that the 

Exchange will also obtain a 

representation from the issuer of each 

series of Proxy Portfolio Shares that the 

issuer and any person acting on behalf 

of the series of Proxy Portfolio Shares 

will comply with Regulation Fair 

Disclosure under the Act, including 

with respect to any Custom Basket.5

Third, the proposed Rule change 

amends Nasdaq Rule 5750(d)(2)(A), 

which currently provides that, with 

respect to each Proxy Basket, that it will 

be publicly disseminated at least once 

daily and will be made available to all 

market participants at the same time. 

Nasdaq Rule 5750(d)(2)(A) will be 

amended to provide that, with respect to 

each Custom Basket utilized by a series 

of Proxy Portfolio Shares, each business 

day, before the opening of trading in the 

regular market session, the investment 

company shall make publicly available 

on its website the composition of any 

Custom Basket transacted on the 

previous business day, except a Custom 

Basket that differs from the applicable 

Proxy Basket only with respect to cash. 

The proposed rule change also makes 

conforming amendments to Nasdaq Rule 

5750(b)(5) and (6). In particular, Nasdaq 

Rule 5750(b)(5) currently provides that, 

if the investment adviser to the 

Investment Company issuing Proxy 

Portfolio Shares is registered as a 

broker-dealer or is affiliated with a 

broker-dealer, such investment adviser 

will erect and maintain a ‘‘fire wall’’ 

between the investment adviser and 

personnel of the broker-dealer or brokerdealer affiliate, as applicable, with 

respect to access to information 

concerning the composition of and/or 

changes to the Fund Portfolio and/or the 

Proxy Basket. Any person related to the 

investment adviser or Investment 

Company who makes decisions 

pertaining to the Investment Company’s 

Fund Portfolio and/or the Proxy Basket 

or has access to nonpublic information 

regarding the Fund Portfolio and/or the 

Proxy Basket or changes thereto must be 

subject to procedures designed to 

prevent the use and dissemination of 

material nonpublic information 

regarding the Fund Portfolio and/or the 

Proxy Basket or changes thereto. The 

proposed rule change amends Nasdaq 

Rule 5750(b)(5) to provide for Custom 

Baskets to the extent permitted by a 

fund’s exemptive relief. As proposed, 

Nasdaq Rule 5750(b)(5) provides that if 

the investment adviser to the 

Investment Company issuing Proxy 

Portfolio Shares is registered as a 

broker-dealer or is affiliated with a 

broker-dealer, such investment adviser 

will erect and maintain a ‘‘fire wall’’ 

between the investment adviser and 

personnel of the broker-dealer or brokerVerDate Sep<11>2014 17:33 Sep 01, 2021 Jkt 253001 PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 E:\FR\FM\02SEN1.SGM 02SEN1

lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 168 / Thursday, September 2, 2021 / Notices 49359 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(5). 

8 Id. 

dealer affiliate, as applicable, with 

respect to access to information 

concerning the composition of and/or 

changes to the Fund Portfolio, the Proxy 

Basket, and/or the Custom Basket, as 

applicable. In addition, proposed 

Nasdaq Rule 5750(b)(5) provides that 

any person related to the investment 

adviser or Investment Company who 

makes decisions pertaining to the 

Investment Company’s Fund Portfolio, 

the Proxy Basket, and/or the Custom 

Basket or has access to nonpublic 

information regarding the Fund 

Portfolio, the Proxy Basket, and/or the 

Custom Basket, as applicable, or 

changes thereto must be subject to 

procedures designed to prevent the use 

and dissemination of material 

nonpublic information regarding the 

Fund Portfolio, the Proxy Basket, and/ 

or the Custom Basket, as applicable, or 

changes thereto. 

Nasdaq Rule 5750(b)(6) currently 

provides that any person or entity, 

including a custodian, Reporting 

Authority, distributor, or administrator, 

who has access to nonpublic 

information regarding the Fund 

Portfolio or the Proxy Basket or changes 

thereto, must be subject to procedures 

designed to prevent the use and 

dissemination of material nonpublic 

information regarding the applicable 

Fund Portfolio or the Proxy Basket or 

changes thereto. Moreover, if any such 

person or entity is registered as a brokerdealer or affiliated with a broker-dealer, 

such person or entity will erect and 

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 or Proxy 

Basket. The proposed rule change 

similarly amends Nasdaq Rule 

5750(b)(6) to provide for Custom 

Baskets to the extent permitted by a 

fund’s exemptive relief. As proposed, 

Nasdaq Rule 5750(b)(6)provides that 

any person or entity, including a 

custodian, Reporting Authority, 

distributor, or administrator, who has 

access to nonpublic information 

regarding the Fund Portfolio, the Proxy 

Basket, or the Custom Basket, as 

applicable, or changes thereto, must be 

subject to procedures designed to 

prevent the use and dissemination of 

material nonpublic information 

regarding the applicable Fund Portfolio, 

the Proxy Basket, or the Custom Basket, 

as applicable, or changes thereto. 

Moreover, if any such person or entity 

is registered as a broker-dealer or 

affiliated with a broker-dealer, such 

person or entity will erect and 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, Proxy 

Basket, or Custom Basket, as applicable. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with Section 6(b) 

of the Act 6 in general and Section 

6(b)(5) of the Act 7 in particular in that 

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 consistent with the Section 

6(b)(5) 8 requirement that the rules of an 

exchange not be designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes that proposed 

rule change to provide for the use of 

Custom Baskets consistent with the 

applicable exemptive relief applicable 

to a series of Proxy Portfolio Shares will 

perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest in that 

it will permit use of Custom Baskets, 

consistent with the applicable 

exemptive relief, in a manner that will 

benefit investors by increasing 

efficiencies in the creation and 

redemption process. More specifically, 

Custom Baskets provide an issuer with 

flexibility in portfolio construction that 

may assist in reducing taxable capital 

gains distributions for investors and 

may generally improve tax efficiencies. 

Further, the use of Custom Baskets, to 

the extent permitted by a fund’s 

exemptive relief, may also result in 

narrower bid/ask spreads and smaller 

premiums and discounts to the net asset 

value for Proxy Portfolio Shares to the 

extent that the Investment Company 

utilizes Custom Baskets with fewer 

securities which may, in turn, allow 

Authorized Participants to more 

efficiently hedge and participate 

generally in the Proxy Portfolio Shares. 

In addition to this, the flexibility 

provided in the creation of Custom 

Baskets may serve to increase 

competition between issuers. The 

Exchange believes the proposed rule 

change will enhance competition among 

market participants overall, to the 

benefit of investors and the marketplace. 

The Exchange also believes that 

amending Nasdaq Rule 5750 to 

incorporate specific initial listing 

criteria required to be met by Proxy 

Portfolio Shares that utilize Custom 

Baskets is designed to prevent 

fraudulent and manipulative acts and 

practices. The Exchange believes that 

the daily dissemination of the 

composition of any Custom Basket 

transacted on the previous day, except 

a Custom Basket that differs from the 

applicable Proxy Basket only with 

respect to cash, together with the right 

of Authorized Participants to create and 

redeem each day at the net asset value, 

will enable market participants to value 

and trade shares in a manner that will 

not lead to significant deviations 

between the bid/ask price and net asset 

value of shares of a series of Proxy 

Portfolio Shares. 

Further, including Custom Baskets in 

the requirements of Nasdaq Rule 

5750(b)(5) and (6) would act as a 

safeguard against any misuse and 

improper dissemination of nonpublic 

information related to a fund’s Custom 

Basket or changes thereto. The 

requirement that any person or entity 

implement procedures reasonably 

designed to prevent the use and 

dissemination of material non-public 

information regarding a Custom Basket 

will act to prevent any individual or 

entity from sharing such information 

externally and the internal ‘‘fire wall’’ 

requirements applicable where an entity 

is a registered broker-dealer or affiliated 

with a broker-dealer will act to make 

sure that no entity will be able to misuse 

the data for their own purposes. As 

such, the Exchange believes that the 

proposed rule change to Nasdaq Rule 

5750 is designed to prevent fraudulent 

and manipulative acts and practices. 

The Exchange also believes that the 

proposed initial and continued listing 

standards are designed to promote 

disclosure and transparency with 

respect to the use of Custom Baskets 

consistent with the applicable 

exemptive relief. Specifically, the 

Exchange believes that requiring as an 

initial listing condition that an issuer 

and any person acting on behalf of the 

series of Proxy Portfolio Shares comply 

with Regulation Fair Disclosure under 

the Act, including with respect to any 

Custom Basket, would further the full 

and fair disclosure objectives of 

Regulation Fair Disclosure to the benefit 

of the investing public and all market 

participants. Additionally, with respect 

to each Custom Basket utilized by a 

series of Proxy Portfolio Shares, the 

Exchange believes that requiring, as a 


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49360 Federal Register / Vol. 86, No. 168 / Thursday, September 2, 2021 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 ‘‘MEO Interface’’ or ‘‘MEO’’ means a binary 

order interface for certain order types as set forth 

in Rule 516 into the MIAX Pearl System. See 

Notice, infra note 5, at 37347 n.3. 

4 15 U.S.C. 78s(b)(3)(A). A proposed rule change 

may take effect upon filing with the Commission if 

it is designated by the exchange as ‘‘establishing or 

changing a due, fee, or other charge imposed by the 

self-regulatory organization on any person, whether 

or not the person is a member of the self-regulatory 

organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii). 

5See Securities Exchange Act Release No. 92365 

(July 9, 2021), 86 FR 37347 (‘‘Notice’’). 

6 15 U.S.C. 78s(b)(3)(C). 

7See Notice, supra note 5, at 37347. 

continued listing condition, that each 

business day, before the opening of 

trading in the regular market session, an 

investment company make publicly 

available on its website the composition 

of any Custom Basket transacted on the 

previous business day, except a Custom 

Basket that differs from the applicable 

Proxy Basket only with respect to cash, 

also furthers the goals of transparency 

and full and fair disclosure, to the 

benefit of investors and the public 

interest. 

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. The Exchange 

believes the proposed rule change, by 

permitting the use of Custom Baskets, is 

consistent with a fund’s exemptive 

relief, would introduce additional 

competition among various ETF 

products to the benefit of investors. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: (A) By 

order approve or disapprove such 

proposed rule change, or (B) institute 

proceedings to determine whether the 

proposed rule change should be 

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– 

NASDAQ–2021–065 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–NASDAQ–2021–065. 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–NASDAQ–2021–065 and 

should be submitted on or before 

September 23, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2021–18943 Filed 9–1–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92798; File No. SR– 

PEARL–2021–33] 

Self-Regulatory Organizations; MIAX 

PEARL, LLC; Suspension of and Order 

Instituting Proceedings To Determine 

Whether To Approve or Disapprove 

Proposed Rule Changes To Amend the 

MIAX Pearl Options Fee Schedule To 

Increase the Monthly Fees for MIAX 

Express Network Full Service Ports 

August 27, 2021. 

I. Introduction 

On July 1, 2021, MIAX PEARL, LLC 

(‘‘MIAX Pearl’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Exchange Act’’ 

or ‘‘Act’’),1 and Rule 19b–4 thereunder,2

a proposed rule change (File Number 

SR–PEARL–2021–33) to amend the 

MIAX Pearl Options Fee Schedule (‘‘Fee 

Schedule’’) to increase monthly fees for 

the Exchange’s MIAX Express Network 

Full Service MEO Ports.3 The proposed 

rule change was immediately effective 

upon filing with the Commission 

pursuant to Section 19(b)(3)(A) of the 

Act.4 The proposed rule change was 

published for comment in the Federal 

Register on July 15, 2021.5 The 

Commission has received no comment 

letters on the proposed rule change. 

Under Section 19(b)(3)(C) of the Act,6

the Commission is hereby: (i) 

Temporarily suspending File Number 

SR–PEARL–2021–33; and (ii) instituting 

proceedings to determine whether to 

approve or disapprove File Number SR– 

PEARL–2021–33. 

II. Description of the Proposed Rule 

Change 

MIAX Pearl proposes to increase the 

monthly fees for Full Service MEO 

Ports, which fee increases became 

effective July 1, 2021.7 The Exchange 

states that Full Service MEO Ports are 

used for by options Members to submit 


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