21942 Federal Register / Vol. 87, No. 71 / Wednesday, April 13, 2022 / Notices 

9 15 U.S.C. 78s(b)(3)(A)(iii). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

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

the Commission written notice of its intent to file 

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 has satisfied this 

requirement. 11 17 CFR 200.30–3(a)(12). 

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)(iii) of the Act 9 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.10

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 

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– 

ISE–2022–09 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–ISE–2022–09. 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–ISE–2022–09, and should 

be submitted on or before May 4, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–07855 Filed 4–12–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–245, OMB Control No. 

3235–0204] 

Proposed Collection; 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 19d–3 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 19d–3 (17 CFR 

240.19d–3) under the Securities 

Exchange Act of 1934 (17 U.S.C. 78a et 

seq.) (‘‘Exchange Act’’). The 

Commission plans to submit this 

existing collection of information to the 

Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 19d–3 prescribes the form and 

content of applications to the 

Commission by persons seeking 

Commission review of final disciplinary 

actions against them taken by selfregulatory organizations (‘‘SROs’’) for 

which the Commission is the 

appropriate regulatory agency. The 

Commission uses the information 

provided in the application filed 

pursuant to Rule 19d–3 to review final 

actions taken by SROs including: (1) 

Final disciplinary sanctions; (2) denial 

or conditioning of membership, 

participation or association; and (3) 

prohibitions or limitations of access to 

services offered by a SRO or member 

thereof. 

The staff estimates that 32 

respondents will file one application 

pursuant to Rule 19b–3 each year. The 

staff estimates that the average number 

of hours necessary to comply with the 

requirements of Rule 19d–3 is 

approximately eighteen hours. We 

estimate that approximately 16 firms or 

natural persons would draft the 

applications themselves, and therefore 

incur an hour burden of 18 hours each 

(a total hour burden of 288 hours), and 

that 16 would hire outside counsel, and 

therefore incur a cost burden of $8,496 

each (a total cost burden of $135,936). 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility and clarity 

of the information collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted by 

June 13, 2022. 

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. 

Please direct your written comments 

to: David Bottom, Chief Information 

Officer, Securities and Exchange 

Commission, c/o John Pezzullo, 100 F 

Street NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. 


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 71 / Wednesday, April 13, 2022 / Notices 21943 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 62886 

(Sept. 10, 2010), 75 FR 56613 (Sept. 16, 2010) (SR– 

NYSEAmer–2010–60). 

5See Securities Exchange Act Release No. 68801 

(Feb. 1, 2013), 78 FR 8630 (Feb. 6, 2013) (SR– 

NYSEMKT–2013–11). 

6See Securities Exchange Act Release No. 72434 

(June 19, 2014), 79 FR 36110 (June 25, 2014) (SR– 

NYSEMKT–2014–37). 

7See Securities Exchange Act Release No. 67091 

(May 31, 2012), 77 FR 33498 (June 6, 2012) (the 

‘‘Limit Up-Limit Down Release’’). 

8See Securities Exchange Act Release No. 71820 

(March 27, 2014), 79 FR 18595 (April 2, 2014) (SR– 

NYSEMKT–2014–28). 

9See Securities Exchange Act Release No. 85623 

(April 11, 2019), 84 FR 16086 (April 17, 2019) 

(approving Eighteenth Amendment to LULD Plan). 

10See Securities Exchange Act Release No. 85563 

(April 9, 2019), 84 FR 15241 (April 15, 2019) (SR– 

NYSEAMER–2019–11). 

11See Securities Exchange Act Release No. 87354 

(October 18, 2019), 84 FR 57139 (October 24, 2019) 

(SR–NYSEAMER–2019–44). 

12See Securities Exchange Act Release No. 88589 

(April 8, 2020), 85 FR 20769 (April 14, 2020) (SR– 

NYSEAMER–2020–22). 

13See Securities Exchange Act Release No. 90154 

(October 13, 2020), 85 FR 66376 (October 19, 2020) 

(SR–NYSEAMER–2020–73). 

14See Securities Exchange Act Release No. 91552 

(April 14, 2021), 86 FR 20583 (April 20, 2021) (SR– 

NYSEAMER–2021–19). 

15See Securities Exchange Act Release No. 93356 

(October 15, 2021), 86 FR 58345 (October 21, 2021) 

(SR–NYSEAMER–2021–41). 

16See supra notes 4–6. The prior versions of 

paragraphs (c), (e)(2), (f), and (g) generally provided 

greater discretion to the Exchange with respect to 

breaking erroneous trades. 

Dated: April 7, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–07835 Filed 4–12–22; 8:45 am] 

BILLING CODE P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94641; File No. SR– 

NYSEAMER–2022–18] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Extend the Current Pilot 

Program Related to Rule 7.10E 

April 7, 2022. 

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 April 5, 

2022, NYSE American LLC (‘‘NYSE 

American’’ 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 

current pilot program related to Rule 

7.10E (Clearly Erroneous Executions) to 

the close of business on July 20, 2022. 

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 purpose of the proposed rule 

change is to extend the current pilot 

program related to Rule 7.10E (Clearly 

Erroneous Executions) to the close of 

business on July 20, 2022. The pilot 

program is currently due to expire on 

April 20, 2022. 

On September 10, 2010, the 

Commission approved, on a pilot basis, 

changes to Rule 7.10E that, among other 

things: (i) Provided for uniform 

treatment of clearly erroneous execution 

reviews in multi-stock events involving 

twenty or more securities; and (ii) 

reduced the ability of the Exchange to 

deviate from the objective standards set 

forth in the rule.4 In 2013, the Exchange 

adopted a provision designed to address 

the operation of the Plan.5 Finally, in 

2014, the Exchange adopted two 

additional provisions providing that: (i) 

A series of transactions in a particular 

security on one or more trading days 

may be viewed as one event if all such 

transactions were effected based on the 

same fundamentally incorrect or grossly 

misinterpreted issuance information 

resulting in a severe valuation error for 

all such transactions; and (ii) in the 

event of any disruption or malfunction 

in the operation of the electronic 

communications and trading facilities of 

an Exchange, another SRO, or 

responsible single plan processor in 

connection with the transmittal or 

receipt of a trading halt, an Officer, 

acting on his or her own motion, shall 

nullify any transaction that occurs after 

a trading halt has been declared by the 

primary listing market for a security and 

before such trading halt has officially 

ended according to the primary listing 

market.6

These changes were originally 

scheduled to operate for a pilot period 

to coincide with the pilot period for the 

Plan to Address Extraordinary Market 

Volatility (the ‘‘Limit Up-Limit Down 

Plan’’ or ‘‘LULD Plan’’),7 including any 

extensions to the pilot period for the 

LULD Plan.8 In April 2019, the 

Commission approved an amendment to 

the LULD Plan for it to operate on a 

permanent, rather than pilot, basis.9 In 

light of that change, the Exchange 

amended Rule 7.10E to untie the pilot’s 

effectiveness from that of the LULD Plan 

and to extend the pilot’s effectiveness to 

the close of business on October 18, 

2019.10 The Exchange later amended 

Rule 7.10E to extend the pilot’s 

effectiveness to the close of business on 

April 20, 2020,11 October 20, 2020,12

April 20, 2021,13 October 20, 2021,14

and April 20, 2022.15

The Exchange now proposes to amend 

Rule 7.10E to extend the pilot’s 

effectiveness for a further three months 

until the close of business on July 20, 

2022. If the pilot period is not either 

extended, replaced or approved as 

permanent, the prior versions of 

paragraphs (c), (e)(2), (f), and (g) shall be 

in effect, and the provisions of 

paragraphs (i) through (k) shall be null 

and void.16 In such an event, the 

remaining sections of Rule 7.10E would 

continue to apply to all transactions 

executed on the Exchange. The 

Exchange understands that the other 

national securities exchanges and 

Financial Industry Regulatory Authority 

(‘‘FINRA’’) will also file similar 

proposals to extend their respective 

clearly erroneous execution pilot 

programs, the substance of which are 

identical to Rule 7.10E. 

The Exchange does not propose any 

additional changes to Rule 7.10E. 

Extending the effectiveness of Rule 

7.10E for an additional three months 

will provide the Exchange and other 

self-regulatory organizations additional 

time to consider whether further 


jspears on DSK121TN23PROD with NOTICES1