Federal Register / Vol. 86, No. 178 / Friday, September 17, 2021 / Notices 51947 

26 15 U.S.C. 78s(b)(3)(A). 

27 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 Commission 

has waived that requirement in this case. 

28 17 CFR 240.19b–4(f)(6). 

29 17 CFR 240.19b–4(f)(6)(iii). 

30See supra notes 21–24. 

31For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

32 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

fact that this market is competitive has 

also long been recognized by the courts. 

In NetCoalition v. Securities and 

Exchange Commission, the D.C. Circuit 

stated as follows: ‘‘[n]o one disputes 

that competition for order flow is 

‘fierce.’ . . . As the SEC explained, ‘[i]n 

the U.S. national market system, buyers 

and sellers of securities, and the brokerdealers that act as their order-routing 

agents, have a wide range of choices of 

where to route orders for execution’; 

[and] ‘no exchange can afford to take its 

market share percentages for granted’ 

because ‘no exchange possesses a 

monopoly, regulatory or otherwise, in 

the execution of order flow from broker 

dealers’. . . .’’. Accordingly, the 

Exchange does not believe its proposal 

imposes any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

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 

19(b)(3)(A) of the Act 26 and Rule 19b– 

4(f)(6) thereunder.27

A proposed rule change filed under 

Rule 19b–4(f)(6) 28 normally does not 

become operative prior to 30 days after 

the date of the filing. However, Rule 

19b–4(f)(6)(iii) 29 permits the 

Commission to designate a shorter time 

if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has proposed to 

implement this proposed rule change on 

August 31, 2021 and has asked the 

Commission to waive the 30-day 

operative delay for this filing. The 

Exchange states that the proposed data 

to be included in the proposed Cboe 

Premium Exchange Tools is already 

generally available to all users without 

a subscription to Cboe Premium 

Exchange Tools and/or is substantially 

similar to information that was 

historically, or currently is, included in 

similar products offered on Nasdaq.30

The Commission believes waiver of the 

operative delay will allow a description 

of Cboe Premium Exchange Tools 

product to be immediately reflected in 

the Exchange’s rules and is consistent 

with the protection of investors and the 

public interest because the proposed 

rule change does not raise any new or 

novel issues. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposed rule change as operative upon 

filing.31

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 No. SR– 

CboeEDGA–2021–017 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 No. 

SR–CboeEDGA–2021–017. 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 No. 

SR–CboeEDGA–2021–017, and should 

be submitted on or before October 8, 

2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.32

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–20083 Filed 9–16–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92954; File No. SR– 

CboeBZX–2021–058] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend the 

Fees in BZX Rule 14.13 Applicable To 

Exchange-Traded Products Listed on 

the Exchange 

September 13, 2021. 

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

Securities Exchange Act of 1934 

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

51948 Federal Register / Vol. 86, No. 178 / Friday, September 17, 2021 / Notices 

3As defined in Rule 11.8(e)(1)(A), the term ‘‘ETP’’ 

means any security listed pursuant to Exchange 

Rule 14.11. 

4 15 U.S.C. 78f(b). 

5 15 U.S.C. 78f(b)(4). 

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f). 

notice is hereby given that on August 

30, 2021, Cboe BZX Exchange, Inc. 

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

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III 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’’) is filing with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

to amend the fees applicable to 

securities listed on the Exchange, which 

are set forth in BZX Rule 14.13. 

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 is proposing to amend 

Rule 14.13(b)(2)(E) related to refunds of 

the annual fees for listing on the 

Exchange where a class of securities is 

removed from listing during the year. 

Specifically, the Exchange is proposing 

to amend the rule to allow the Exchange 

to prorate and refund fees applicable to 

exchange-traded products (‘‘ETPs’’) 3

that have liquidated and as a result are 

delisted from the Exchange for the 

portion of the calendar year that such 

issue was listed on the Exchange, based 

on the percentage of trading days listed 

during that calendar year. 

Rule 14.13(b)(2)(C) describes the 

annual fees applicable to issuers of ETPs 

listed on the Exchange. As provided in 

Rule 14.13(b)(2)(C)(ii), newly listed 

ETPs are subject to annual fees in the 

year of listing, prorated based on the 

number of trading days remaining in the 

calendar year. The annual fees for ETPs 

are billed in January for the forthcoming 

year. Currently, when an ETP liquidates, 

and as a result, is delisted from the 

Exchange, the issuer is responsible for 

the full year’s annual fee as billed in 

January. The issuer receives no refund 

for amounts paid or reduction of 

amounts payable even though the ETP 

has liquidated. The Exchange proposes 

to amend Rule 14.13(b)(2)(C)(ii) [sic] to 

provide that the annual fees applicable 

to ETPs that have liquidated and as a 

result are delisted from the Exchange 

will be prorated for the portion of the 

calendar year that such issue was listed 

on the Exchange, based on days listed 

that calendar year. Thus, for example, if 

the issuer of an ETP has paid an annual 

fee of $4,000 as billed in January and 

such issue is liquidated and then 

delisted from the Exchange at the close 

of business on the 126th of 252 trading 

days in a year, the issuer would receive 

a refund of $2,000, which represents a 

pro rata credit of annual fees owed for 

the year. Any such refund will be 

payable in the month following 

delisting. Notwithstanding the proposed 

proration of the annual fees for ETPs, 

the Exchange will continue to be able to 

fund its regulatory obligations. 

The Exchange intends to implement 

the proposed amendments to its listing 

fees immediately. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the Act 

and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.4 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(4) 5 and 6(b)(5) 6 in that it provides 

for the equitable allocation of reasonable 

dues, fees and other charges among 

issuers and it does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes that the 

proposed amendment is reasonable, fair 

and equitable, and not an unfairly 

discriminatory allocation of fees and 

other charges because it would apply 

equally for all issuers. The Exchange 

believes that the proposed pro rata 

reduction of the annual fees as a result 

of liquidation and termination of an ETP 

is reasonable in that it constitutes a 

potential reduction in annual fees for 

ETPs that are liquidated and therefore 

are no longer collecting a management 

fee to pay for such expenses. 

Notwithstanding the proposed proration 

of the annual fees for ETPs, the 

Exchange will continue to be able to 

fund its regulatory obligations. 

Based on the foregoing, the Exchange 

believes that the proposed rule change 

is consistent with the Act. 

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 not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange does not believe that the 

proposed change burdens competition, 

but instead, enhances competition, as it 

will permit the Exchange to better 

compete with other exchanges with 

respect to fees changed [sic] in 

connection with listing ETPs. The 

Exchange does not believe the proposed 

amendments would burden intramarket 

competition as they would be available 

to all issuers uniformly. 

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 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 7 and paragraph (f) of Rule 

19b–4 8 thereunder. 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 will institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

Federal Register / Vol. 86, No. 178 / Friday, September 17, 2021 / Notices 51949 

9 17 CFR 200.30–3(a)(12). 

1 12 U.S.C. 5452. 

2Unless otherwise specified, the term 

‘‘contractors’’ refers to contractors and 

subcontractors. 

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–2021–058 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–2021–058. 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–2021–058 and 

should be submitted on or before 

October 8, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–20080 Filed 9–16–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–666; OMB Control No. 

3235–0725] 

Submission for OMB Review; 

Comment Request 

Upon Written Request Copies Available 

From: U.S. Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

OWMI Contract Standard for Contractor 

Workforce Inclusion 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(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 extension of the 

previously approved collection of 

information discussed below. 

Section 342 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act of 2010 (the Dodd-Frank Act) 

provided that certain agencies, 

including the Commission, establish an 

Office of Minority and Women 

Inclusion (OMWI).1 Section 342(c)(2) of 

the Dodd-Frank Act requires the OMWI 

Director to include in the Commission’s 

procedures for evaluating contract 

proposals and hiring service providers a 

written statement that the contractor 

shall ensure, to the maximum extent 

possible, the fair inclusion of women 

and minorities in the workforce of the 

contractor and, as applicable, 

subcontractors. 

In addition, section 342(c)(3)(A) of the 

Dodd-Frank Act requires the OMWI 

Director to establish standards and 

procedures for determining whether an 

agency contractor or subcontractor ‘‘has 

failed to make a good faith effort to 

include minorities and women’’ in its 

workforce. Section 342(c)(3)(B)(i) 

provides that if the OMWI Director 

determines that a contractor has failed 

to make good faith efforts, the Director 

shall recommend to the agency 

administrator that the contract be 

terminated. Upon receipt of such a 

recommendation, section 342(c)(3)(B)(ii) 

provides that the agency administrator 

may terminate the contract, make a 

referral to the Office of Federal Contract 

Compliance Programs of the Department 

of Labor, or take other appropriate 

action. To implement the acquisitionspecific requirements of Section 342(c) 

of the Dodd-Frank Act, the Commission 

adopted a Contract Standard for 

Contractor Workforce Inclusion 

(Contract Standard). 

The Contract Standard, which is 

included in the Commission’s 

solicitations and resulting contracts for 

services with a dollar value of $100,000 

or more, contains a ‘‘collection of 

information’’ within the meaning of the 

Paperwork Reduction Act. The Contract 

Standard requires that a Commission 

contractor provide documentation, upon 

request from the OMWI Director, to 

demonstrate that it has made good faith 

efforts to ensure the fair inclusion of 

minorities in its workforce and, as 

applicable, to demonstrate its covered 

subcontractors have made such good 

faith efforts. The documentation 

requested may include, but is not 

limited to: (1) The total number of 

employees in the contractor’s workforce, 

and the number of employees by race, 

ethnicity, gender, and job title or EEO– 

1 job category (e.g., EEO–1 Report(s)); 

(2) a list of covered subcontract awards 

under the contract that includes the 

dollar amount of each subcontract, date 

of award, and the subcontractor’s race, 

ethnicity, and/or gender ownership 

status; (3) the contractor’s plan to ensure 

the fair inclusion of minorities and 

women in its workforce, including 

outreach efforts; and (4) for each 

covered subcontractor, the information 

requested in items 1 and 3 above. The 

OMWI Director will consider the 

information submitted in evaluating 

whether the contractor or subcontractor 

has complied with its obligations under 

the Contract Standard. 

The information collection is 

mandatory. 

Estimated number of respondents: 

Based on a review of the last two fiscal 

years since the most recent approval of 

this information collection, the 

Commission estimates that 175 

contractors would be subject to the 

Contract Standard.2 Approximately 102 

of these contractors have 50 or more 

employees, while 73 have fewer than 50 

employees. 

Estimate of recordkeeping burden: 

The information collection under the 

Contract Standard imposes no new 

recordkeeping burden on the estimated