Federal Register / Vol. 87, No. 79 / Monday, April 25, 2022 / Notices 24351 

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

2 17 CFR 240.19b–4. 

3The term ‘‘Regular Trading Hours’’ means the 

time between 9:30 a.m. and 4:00 p.m. Eastern Time. 

See BZX Rule 1.5(w). 

4See Securities Exchange Act Release No. 94374 

(March 7, 2022), 87 FR 14062. 

5 15 U.S.C. 78s(b)(2). 

6 Id. 

7 17 CFR 200.30–3(a)(31). 

PROCEDURAL SCHEDULE FOR DOCKET NO. N2022–1—Continued 

[Updated April 19, 2022] 

Filing of Reply Briefs ............................................................................................................................. May 13, 2022. 

Statement of Position Deadline: 

Filing of Statement of Position .............................................................................................................. May 11, 2022. 

Advisory Opinion Deadline: 

Filing of Advisory Opinion (absent determination of good cause for extension) .................................. June 21, 2022. 

[FR Doc. 2022–08765 Filed 4–22–22; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94744; File No. SR– 

CboeBZX–2022–017] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of 

Designation of Longer Period for 

Commission Action on a Proposed 

Rule Change To Amend BZX Rule 

11.17, Clearly Erroneous Executions 

April 19, 2022. 

On March 7, 2022, Cboe BZX 

Exchange, Inc. (‘‘BZX’’) 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 to 

(i) make the current clearly erroneous 

execution (‘‘CEE’’) pilot program 

permanent, and (ii) limit the 

circumstances where CEE reviews 

would continue to be available during 

Regular Trading Hours.3 The proposed 

rule change was published for comment 

in the Federal Register on March 11, 

2022.4 The Commission has received no 

comment letters on the proposed rule 

change. 

Section 19(b)(2) of the Act 5 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 April 25, 2022. 

The Commission hereby is extending 

the 45-day time period for Commission 

action on the proposed rule change. The 

Commission finds that it is 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, pursuant to Section 

19(b)(2) of the Act,6 the Commission 

designates June 9, 2022, as the date by 

which the Commission shall either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–CboeBZX–2022–017). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–08676 Filed 4–22–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2 p.m. on Thursday, 

April 28, 2022. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

In the event that the time, date, or 

location of this meeting changes, an 

announcement of the change, along with 

the new time, date, and/or place of the 

meeting will be posted on the 

Commission’s website at https://

www.sec.gov. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations 

and enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

Authority: 5 U.S.C. 552b. 

Dated: April 21, 2022. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2022–08855 Filed 4–21–22; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–448, OMB Control No. 

3235–0507] 

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 19b–5 and Form PILOT 

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 

(‘‘SEC’’) is soliciting comments on the 

existing collection of information 

provided for in Rule 19b–5 (17 CFR 

240.19b–5) and Form PILOT (17 CFR 


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24352 Federal Register / Vol. 87, No. 79 / Monday, April 25, 2022 / Notices 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

249.821) under the Securities Exchange 

Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 

78a et seq.). The SEC plans to submit 

this existing collection of information to 

the Office of Management and Budget 

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

Rule 19b–5 provides a temporary 

exemption from the rule-filing 

requirements of Section 19(b) of the 

Exchange Act (15 U.S.C. 78s(b)) to selfregulatory organizations (‘‘SROs’’) 

wishing to establish and operate pilot 

trading systems. Rule 19b–5 permits an 

SRO to develop a pilot trading system 

and to begin operation of such system 

shortly after submitting an initial report 

on Form PILOT to the SEC. During 

operation of any such pilot trading 

system, the SRO must submit quarterly 

reports of the system’s operation to the 

SEC, as well as timely amendments 

describing any material changes to the 

system. Within two years of operating 

such pilot trading system under the 

exemption afforded by Rule 19b–5, the 

SRO must submit a rule filing pursuant 

to Section 19(b)(2) of the Exchange Act 

(15 U.S.C. 78s(b)(2)) to obtain 

permanent approval of the pilot trading 

system from the SEC. 

The collection of information is 

designed to allow the SEC to maintain 

an accurate record of all new pilot 

trading systems operated by SROs and 

to determine whether an SRO has 

properly availed itself of the exemption 

afforded by Rule 19b–5, is operating a 

pilot trading system in compliance with 

the Exchange Act, and is carrying out its 

statutory oversight obligations under the 

Exchange Act. 

The respondents to the collection of 

information are national securities 

exchanges and national securities 

associations. 

There are 24 SROs which could avail 

themselves of the exemption under Rule 

19b–5 and the use of Form PILOT. The 

SEC estimates that approximately one of 

these SROs each year will file on Form 

PILOT one initial report (i.e., 1 report 

total, for an estimated annual burden of 

24 hours total), four quarterly reports 

(i.e., 4 reports total, for an estimated 

annual burden of 12 hours total (3 hours 

per report)), and two amendments (i.e., 

2 reports total, for an estimated annual 

burden of 6 hours total (3 hours per 

report)). Thus, the estimated annual 

time burden resulting from Form PILOT 

is 42 hours for the estimated sole SRO 

respondent. The SEC estimates that the 

aggregate annual internal cost of 

compliance for the sole SRO respondent 

is approximately $12,880 (42 hours at 

an average of $306.67 per hour). In 

addition, the SEC estimates that the sole 

SRO respondent will incur, in the 

aggregate, printing, supplies, copying, 

and postage expenses of $2,287 per year 

for filing initial reports, $1,142 per year 

for filing quarterly reports, and $571 per 

year for filing notices of material 

systems changes, for a total annual cost 

burden of $4,000. 

Written comments are invited on (a) 

whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the SEC, 

including whether the information shall 

have practical utility; (b) the accuracy of 

the SEC’s estimate 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 24, 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, Director/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. 

Dated: April 19, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–08670 Filed 4–22–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94749; File No. SR– 

CboeBZX–2022–028] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Extend the 

Current Pilot Program Related to BZX 

Rule 11.17, Clearly Erroneous 

Executions, to the Close of Business 

on July 20, 2022 

April 19, 2022. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on April 18, 

2022, Cboe BZX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BZX’’) 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 Exchange. The Exchange filed the 

proposal as a ‘‘non-controversial’’ 

proposed rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(6) thereunder.4 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. (‘‘BZX’’ or 

the ‘‘Exchange’’) is filing with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) a proposed rule 

change to extend the current pilot 

program related to BZX Rule 11.17, 

Clearly Erroneous Executions, to the 

close of business on July 20, 2022. The 

text of the proposed rule change is 

provided in Exhibit 5. 

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 purpose of this filing is to extend 

the effectiveness of the Exchange’s 

current rule applicable to Clearly 

Erroneous Executions to the close of 

business on July 20, 2022. Portions of 

Rule 11.17, explained in further detail 

below, are currently operating as a pilot 


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