Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Notices 49587 

66 Id. 

67 15 U.S.C. 78q–1. 

68 15 U.S.C. 78s(b)(2). 

69 In approving the proposed rule change, the 

Commission considered the proposals’ impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 

70 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. 

4Pursuant to Rule 7.1(e), the CEO notified the 

Board of Directors of the Exchange of this 

determination. The Exchange’s current rules 

establish how the Exchange will function fullyelectronically. The CEO also closed the NYSE 

American Options Trading Floor, which is located 

at the same 11 Wall Street facilities, and the NYSE 

Arca Options Trading Floor, which is located in 

San Francisco, CA. See Press Release, dated March 

18, 2020, available here: https://ir.theice.com/press/ 

press-releases/all-categories/2020/03-18-2020- 

204202110. 

5See Securities Exchange Act Release No. 88933 

(May 22, 2020), 85 FR 32059 (May 28, 2020) (SR– 

NYSE–2020–47) (Notice of filing and immediate 

effectiveness of proposed rule change). 

6See Securities Exchange Act Release No. 89086 

(June 17, 2020) (SR–NYSE–2020–52) (Notice of 

filing and immediate effectiveness of proposed rule 

change). 

7See Securities Exchange Act Release Nos. 88413 

(March 18, 2020), 85 FR 16713 (March 24, 2020) 

(SR–NYSE–2020–19) (amending Rule 7.35C to add 

Commentary .01); 88444 (March 20, 2020), 85 FR 

17141 (March 26, 2020) (SR–NYSE–2020–22) 

(amending Rules 7.35A to add Commentary .01, 

7.35B to add Commentary .01, and 7.35C to add 

Commentary .02); 88488 (March 26, 2020), 85 FR 

18286 (April 1, 2020) (SR–NYSE–2020–23) 

(amending Rule 7.35A to add Commentary .02); 

88546 (April 2, 2020), 85 FR 19782 (April 8, 2020) 

(SR–NYSE–2020–28) (amending Rule 7.35A to add 

Commentary .03); 88562 (April 3, 2020), 85 FR 

20002 (April 9, 2020) (SR–NYSE–2020–29) 

(amending Rule 7.35C to add Commentary .03); 

88705 (April 21, 2020), 85 FR 23413 (April 27, 

2020) (SR–NYSE–2020–35) (amending Rule 7.35A 

to add Commentary .04); 88725 (April 22, 2020), 85 

FR 23583 (April 28, 2020) (SR–NYSE–2020–37) 

Continued 

Amendment No. 1, FICC updated 

Exhibit 5 to the Proposed Rule Change 

to correct an erroneous cross reference 

in the original filing. Amendment No. 1 

neither modifies the Proposed Rule 

Change as originally published in any 

substantive manner, nor does 

Amendment No. 1 affect any rights or 

obligations of FICC or its members. 

Instead, Amendment No. 1 corrects a 

typographical error in the original filing. 

Accordingly, the Commission finds 

good cause, pursuant to Section 

19(b)(2)(C)(iii) of the Act,66 to approve 

the Proposed Rule Change, as modified 

by Amendment No. 1, prior to the 

thirtieth day after the date of 

publication of notice of Amendment No. 

1 in the Federal Register. 

V. Conclusion 

On the basis of the foregoing, the 

Commission finds that the Proposed 

Rule Change, as modified by 

Amendment No. 1, is consistent with 

the requirements of the Act and in 

particular with the requirements of 

Section 17A of the Act 67 and the rules 

and regulations promulgated 

thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act 68 that 

proposed rule change SR–FICC–2021– 

003, be, and hereby is, APPROVED.69

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.70

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–19046 Filed 9–2–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92802; File No. SR–NYSE– 

2021–46] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Extend the 

Temporary Period for Specified 

Commentaries to Rules 7.35A and 

7.35C and Temporary Rule Relief in 

Rule 36.30 

August 30, 2021. 

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 August 

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 to extend the 

temporary period for specified 

Commentaries to Rules 7.35A and 7.35C 

and temporary rule relief in Rule 36.30, 

to end on the earlier of a full reopening 

of the Trading Floor facilities to DMMs 

or after the Exchange closes on 

December 31, 2021. 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 to extend the 

temporary period for specified 

Commentaries to Rules 7.35A and 7.35C 

and temporary rule relief to Rule 36.30 

to end on the earlier of a full reopening 

of the Trading Floor facilities to DMMs 

or after the Exchange closes on 

December 31, 2021. The current 

temporary period that these Rules are in 

effect ends on the earlier of a full 

reopening of the Trading Floor facilities 

to DMMs or after the Exchange closes on 

August 31, 2021. 

Background 

To slow the spread of COVID–19 

through social-distancing measures, on 

March 18, 2020, the CEO of the 

Exchange made a determination under 

Rule 7.1(c)(3) that, beginning March 23, 

2020, the Trading Floor facilities located 

at 11 Wall Street in New York City 

would close and the Exchange would 

move, on a temporary basis, to fully 

electronic trading.4 On May 14, 2020, 

the CEO of the Exchange made a 

determination under Rule 7.1(c)(3) to 

reopen the Trading Floor on a limited 

basis on May 26, 2020 to a subset of 

Floor brokers, subject to safety measures 

designed to prevent the spread of 

COVID–19.5 On June 15, 2020, the CEO 

of the Exchange made a determination 

under Rule 7.1(c)(3) to begin the second 

phase of the Trading Floor reopening by 

allowing DMMs to return on June 17, 

2020, subject to safety measures 

designed to prevent the spread of 

COVID–19.6 Consistent with these 

safety measures, both DMMs and Floor 

broker firms continue to operate with 

reduced staff on the Trading Floor. 

Proposed Rule Change 

Beginning in March 2020, the 

Exchange modified its rules to add 

Commentaries to Rules 7.35, 7.35A, 

7.35B, and 7.35C and rule relief in Rule 

36.30,7 and has extended the expiration 


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49588 Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Notices 

(amending Rule 7.35 to add Commentary .01); 

88950 (May 26, 2020), 85 FR 33252 (June 1, 2020) 

(SR–NYSE–2020–48) (amending Rule 7.35A to add 

Commentary .05); 89059 (June 12, 2020), 85 FR 

36911 (June 18, 2020) (SR–NYSE–2020–50) 

(amending Rule 7.35C to add Commentary .04); 

89086 (June 17, 2020), 85 FR 37712 (SR–NYSE– 

2020–52) (amending Rules 7.35A to add 

Commentary .06, 7.35B to add Commentary .03, 76 

to add Supplementary Material 20, and 

Supplementary Material .30 to Rule 36); 89925 

(September 18, 2020) (SR–NYSE–2020–75) 

(amending Rule 7.35 to add Commentary .02); and 

90810 (December 29, 2020), 86 FR 335 (January 5, 

2021) (SR–NYSE–2020–109) (amending Rule 7.35A 

to add Commentary .07). 

8See Securities Exchange Act Release No. 91778 

(May 5, 2021) 86 FR 25902 (May 11, 2021) (SR– 

NYSE–2021–29) (Notice of filing and immediate 

effectiveness of proposed rule change to extend the 

temporary period for specified Commentaries to 

Rules 7.35, 7.35A, 7.35B, and 7.35C and temporary 

rule relief in Rule 36.30 to end on the earlier of a 

full reopening of the Trading Floor facilities to 

DMMs or after the Exchange closes on August 31, 

2021). See also Securities Exchange Act Release 

Nos. 90795 (December 23, 2020), 85 FR 86608 

(December 30, 2020) (SR–NYSE–2020–106) 

(extending same to end on the earlier of a full 

reopening of the Trading Floor facilities to DMMs 

or after the Exchange closes on April 30, 2021); 

90005 (September 25, 2020), 85 FR 61999 (October 

2020) (SR–NYSE–2020–78) (extending same to end 

on the earlier of a full reopening of the Trading 

Floor facilities to DMMs or after the Exchange 

closes on December 31, 2020); 89425 (July 30, 

2020), 85 FR 47446 (August 5, 2020) (SR–NYSE– 

2020–63) (extending same to end on the earlier of 

a full reopening of the Trading Floor facilities to 

DMMs or after the Exchange closes on September 

30, 2020); 89199 (June 30, 2020), 85 FR 40718 (July 

7, 2020) (SR–NYSE–2020–56) (Notice of filing and 

immediate effectiveness of proposed rule change to 

extend the temporary period for Commentaries to 

Rules 7.35, 7.35A, 7.35B, and 7.35C; Supplementary 

Material .20 to Rule 76; and temporary rule relief 

in Rule 36.30 to end on the earlier of a full 

reopening of the Trading Floor facilities to DMMs 

or after the Exchange closes on July 31, 2020); and 

89368 (July 21, 2020), 85 FR 45272 (July 27, 2020) 

(SR–NYSE–2020–61) (Notice of filing and 

immediate effectiveness of proposed rule change to 

lift the temporary suspension to Rule 76 and delete 

Supplementary Material .20 to Rule 76). 9See Securities Exchange Act Release Nos. 92374 

(July 9, 2021), 86 FR 37367 (July 15, 2021) (SR– 

NYSE–2020–89) (making permanent the rule 

changes specified in Commentary .03 to Rule 

7.35C); 92373 (July 12, 2021), 86 FR 37779 (July 16, 

2021) (SR–NYSE–2020–93) (making permanent the 

rule changes specified in Commentaries .01 and .02 

to Rule 7.35); and 92480 (July 23, 2021), 86 FR 

40885 (July 29, 2021) (SR–NYSE–2020–95) (making 

permanent certain rule changes specified in 

Commentaries .01 and .06 to Rule 7.35A and 

Commentaries .01 and .03 to Rule 7.35B). 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(5). 

12 15 U.S.C. 78s(b)(3)(A)(iii). 

13 17 CFR 240.19b–4(f)(6). 

date of such Commentaries several 

times.8 In July 2021, the Commission 

approved the Exchange’s proposals to 

make permanent several of the rule 

changes that were the subject of those 

Commentaries.9 The remaining 

Commentaries, specified below, are in 

effect until the earlier of a full reopening 

of the Trading Floor facilities to DMMs 

or after the Exchange closes on August 

31, 2021: 

• Commentaries .01, .02, .03, .04, .05, 

and .07 to Rule 7.35A; 

• Commentaries .01, .02, and .04 to 

Rule 7.35C; and 

• Amendments to Rule 36.30. 

The first and second phases of the 

reopening of the Trading Floor are 

subject to safety measures designed to 

prevent the spread of COVID–19. To 

meet these safety measures, Floor 

brokers and DMM units that have 

chosen to return to the Trading Floor are 

operating with reduced staff. The 

Exchange is therefore proposing to 

extend Commentaries .01, .02, .03, .04, 

05, and .07 to Rule 7.35A, 

Commentaries .01, .02, and .04 to Rule 

7.35C. and the amendments to Rule 

36.30 until such time that there is a full 

reopening of the Trading Floor facilities 

to DMMs. 

The Exchange is not proposing any 

substantive changes to these Rules. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Act,10 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,11

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, and to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system. 

To reduce the spread of COVID–19, 

the CEO of the Exchange made a 

determination under Rule 7.1(c)(3) that 

beginning March 23, 2020, the Trading 

Floor facilities located at 11 Wall Street 

in New York City would close and the 

Exchange would move, on a temporary 

basis, to fully electronic trading. On 

May 14, 2020, the CEO made a 

determination under Rule 7.1(c)(3) that, 

beginning May 26, 2020, the Trading 

Floor would be partially reopened to 

allow a subset of Floor brokers to return 

to the Trading Floor. On June 15, 2020, 

the CEO made a determination under 

Rule 7.1(c)(3) that, beginning June 17, 

2020, DMM units may choose to return 

a subset of staff to the Trading Floor. 

The Exchange believes that the 

proposed rule change would remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system because 

the Trading Floor has not yet reopened 

in full to DMMs or Floor brokers. 

Accordingly, the Exchange believes that 

the temporary rule changes in effect 

pursuant to the Commentaries to Rules 

7.35A and 7.35C and amendments to 

Rule 36.30, which are intended to be in 

effect during the temporary period 

while the Trading Floor has not yet 

opened in full to DMMs, should be 

extended until such time that there is a 

full reopening of the Trading Floor 

facilities to DMMs. The Exchange is not 

proposing any substantive changes to 

these Rules. 

The Exchange believes that, by clearly 

stating that this relief will be in effect 

through the earlier of a full reopening of 

the Trading Floor facilities to DMMs or 

the close of the Exchange on December 

31, 2021, market participants will have 

advance notice of the temporary period 

during which the Commentaries to 

Rules 7.35A and 7.35C and amendments 

to Rule 36.30 will be in effect. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change would 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 designed to 

address any competitive issues but 

rather would extend the period during 

which Commentaries .01, .02, .03, .04, 

05, and .07 to Rule 7.35A; 

Commentaries .01, .02, and .04 to Rule 

7.35C; and amendments to Rule 36.30 

will be in effect. These Commentaries 

are intended to be in effect during the 

temporary period while the Trading 

Floor has not yet been opened in full to 

DMMs and Floor brokers and currently 

expire on August 31, 2021. Because the 

Trading Floor has not been opened in 

full to DMMs, the Exchange proposes to 

extend the temporary period for these 

temporary rules to end on the earlier of 

a full reopening of the Trading Floor 

facilities to DMMs or after the Exchange 

closes 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 12 and Rule 

19b–4(f)(6) thereunder.13 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 


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Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Notices 49589 

14 17 CFR 240.19b–4(f)(6). 

15 17 CFR 240.19b–4(f)(6)(iii). 

16For purposes only of accelerating the operative 

date of this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 

17 15 U.S.C. 78s(b)(2)(B). 18 17 CFR 200.30–3(a)(12). 

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) 14 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),15 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 Commission believes that waiver 

of the operative delay is consistent with 

the protection of investors and the 

public interest because it will allow the 

rules discussed above to remain in effect 

during the temporary period during 

which the Trading Floor has not yet 

been reopened in full to DMMs because 

of health precautions related to the 

Covid-19 pandemic. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposal operative upon filing.16

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) 17 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–2021–46 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–2021–46. 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–2021–46 and should 

be submitted on or before September 24, 

2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–19045 Filed 9–2–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92525; File No. SR–FINRA– 

2020–041] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Order Approving a 

Proposed Rule Change, as Modified by 

Amendment No. 1 and Amendment No. 

2, To Adopt FINRA Rule 4111 

(Restricted Firm Obligations) and 

FINRA Rule 9561 (Procedures for 

Regulating Activities Under Rule 4111) 

July 30, 2021. 

Correction 

In notice document 2021–16671 

appearing on page 42925 in the issue of 

August 5, 2021, make the following 

correction: 

On page 42925, in the second column, 

the file number is corrected to read as 

set forth above. 

[FR Doc. C1–2021–16671 Filed 9–2–21; 8:45 am] 

BILLING CODE 0099–10–D 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

Washington, DC 20549–2736 

Extension: 

Rule 15g–3; [SEC File No. 270–346, OMB 

Control No. 3235–0392] 

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 existing collection of 

information provided for in Rule 15g– 

3—Broker or dealer disclosure of 

quotations and other information 

relating to the penny stock market (17 

CFR 240.15g–3) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.). 

Rule 15g–3 requires that brokers and 

dealers disclose to customers current 

quotation prices or similar market 

information in connection with 

transactions in penny stocks. The 

purpose of the rule is to increase the 

level of disclosure to investors 

concerning penny stocks generally and 

specific penny stock transactions. 

The Commission estimates that 

approximately 178 broker-dealers will 

each spend an average of approximately 


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