Federal Register / Vol. 87, No. 137 / Tuesday, July 19, 2022 / Notices 43083 

5See, Exchange Act Rule 15Fh–5. 

independent representatives.5 We 

estimate that there are approximately 

11,219 unique SBS Dealer and non-SBSDealer pairs. We have used these 

estimates in calculating the hour and 

cost burdens for the rule provisions that 

we anticipate have a ‘‘collection of 

information’’ burden within the 

meaning of the PRA. 

The Commission estimates that the 

aggregate burden of the ongoing 

reporting and disclosures required by 

the BCS Rules, as described above, is 

approximately 486,535 hours and 

$1,812,800 calculated as follows: 

Section Type of burden Respondents 

Ongoing 

annual burden 

Ongoing 

annual burden 

Industry-wide 

annual burden 

Industry-wide 

annual burden 

Hours Cost Hours Cost 

15Fh–3(b), (c), (d): 

Disclosures—SBS Entities .............................. Reporting ............... 44 4,120 $0 181,280 $0 

15Fh–3(b), (c), (d): 

Disclosures—SBS Transactions Between 

SBS Dealer and Non-SBSD Counterparty.

Reporting ............... 232,765 1 0 232,765 0 

15Fh–3(e), (f): 

Know Your Counterparty and Recommendations (SBS Dealers).Reporting ............... 44 128 0 5,610 0 

15Fh–3(g): 

Fair and Balanced Communications ............... Reporting ............... 44 2 3,600 88 158,400 

15Fh–3(h): 

Supervision ...................................................... Reporting ............... 44 540 4,800 23,760 211,200 

15Fh–5: 

SBS Entities Acting as Counterparties to Special Entities.Reporting ............... 44 352 0 15,488 0 

15Fh–5: 

SBS Entities Acting as Counterparties to Special Entities.Third-Party Disclosure.44 352 0 15,488 0 

15Fh–6: 

Political Contributions ...................................... Reporting ............... 44 1 25,600 44 1,126,400 

15Fk–1: 

Chief Compliance Officer ................................ Reporting ............... 44 273 7,200 12,012 316,800 

Total .......................................................... ................................ .......................... .......................... .......................... 486,535 1,812,800 

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. 

The public may view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent by 

August 18, 2022 to (i) www.reginfo.gov/ 

public/do/PRAMain and (ii) David 

Bottom, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o John Pezzullo, 100 F 

Street NE, Washington, DC 20549, or by 

sending an email to: PRA_Mailbox@

sec.gov. 

Dated: July 13, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15315 Filed 7–18–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

34648; 812–15319] 

Quaker Investment Trust and 

Community Capital Management, LLC 

July 13, 2022. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’ or ‘‘SEC’’). 

ACTION: Notice. 

Notice of an application under section 

6(c) of the Investment Company Act of 

1940 (‘‘Act’’) for an exemption from 

section 15(a) of the Act, and rule 18f– 

2 under the Act, as well as from certain 

disclosure requirements in rule 20a–1 

under the Act, Item 19(a)(3) of Form N– 

1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 

22(c)(8) and 22(c)(9) of Schedule 14A 

under the Securities Exchange Act of 

1934, and Sections 6–07(2)(a), (b), and 

(c) of Regulation S–X (‘‘Disclosure 

Requirements’’). 

Summary of Application: The 

requested exemption would permit 

Applicants to enter into and materially 

amend subadvisory agreements with 

certain subadvisors without shareholder 

approval and grant relief from the 

Disclosure Requirements as they relate 

to fees paid to the subadvisors. 

Applicants: Quaker Investment Trust 

and Community Capital Management, 

LLC. 

Filing Dates: The application was 

filed on April 14, 2022, and amended on 

June 10, 2022 and June 29, 2022. 

Hearing or Notification of Hearing: An 

order granting the requested relief will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing on any application by 

emailing the SEC’s Secretary at 

Secretarys-Office@sec.gov and serving 

the Applicants with a copy of the 

request by email, if an email address is 

listed for the relevant Applicant below, 

or personally or by mail, if a physical 

address is listed for the relevant 

Applicant below. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on August 8, 2022, and 

should be accompanied by proof of 

service on the Applicants, in the form 

of an affidavit, or, for lawyers, a 

certificate of service. Pursuant to rule 0– 

5 under the Act, hearing requests should 

state the nature of the writer’s interest, 

any facts bearing upon the desirability 

of a hearing on the matter, the reason for 

the request, and the issues contested. 

Persons who wish to be notified of a 

hearing may request notification by 

emailing the Commission’s Secretary. 


jspears on DSKJM1Z7X2PROD with NOTICES
43084 Federal Register / Vol. 87, No. 137 / Tuesday, July 19, 2022 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4As noted above, the Exchange also proposes in 

this filing to permit ALO Orders to be designated 

as non-displayed, and discussion of the proposed 

modification of Rule 7.31–E(e)(2) to effect that 

change appears in the ‘‘Non-Displayed ALO’’ 

section below. The proposed new designation to 

cancel would be inapplicable to Non-Displayed 

ALO Orders, as proposed, because such orders are 

not eligible to be displayed. 

5See, e.g., Members Exchange (‘‘MEMX’’) Rules 

11.6(a) (defining the Cancel Back instruction, which 

a User may attach to an order to instruct that such 

order be cancelled if it cannot be posted to the 

MEMX Book at its limit price) and 11.6(l)(2) 

(defining the Post Only instruction; an order with 

such instruction functions similarly to the ALO 

Order and may be designated to be cancelled by the 

User); Cboe BZX Exchange, Inc. (‘‘BZX’’) Rules 

11.9(c)(6) and 11.9(g)(d) (defining the BZX Post 

Only Order, which functions similarly to the ALO 

Order and may be designated to be cancelled at the 

User’s instruction); Cboe BYX Exchange, Inc. 

(‘‘BYX’’) Rule 11.9(c)(6) and 11.9(g)(d) (defining the 

BYX Post Only Order, which functions similarly to 

the ALO Order and may be designated to be 

cancelled at the User’s instruction); Nasdaq Stock 

Exchange LLC (‘‘Nasdaq’’) Rule 4702(b)(4)(A) 

(defining the Post-Only Order, which functions 

similarly to the ALO Order and may be designated 

to be cancelled back to the Participant at the 

Participant’s election). 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

Jonathan M. Kopcsik, jkopcsik@

stradley.com. 

FOR FURTHER INFORMATION CONTACT: 

Steven I. Amchan, Senior Counsel, or 

Lisa Reid Ragen, Branch Chief, at (202) 

551–6825 (Division of Investment 

Management, Chief Counsel’s Office). 

SUPPLEMENTARY INFORMATION: For 

Applicants’ representations, legal 

analysis, and conditions, please refer to 

Applicants’ second amended and 

restated application, dated June 29, 

2022, which may be obtained via the 

Commission’s website by searching for 

the file number at the top of this 

document, or for an Applicant using the 

Company name search field on the 

SEC’s EDGAR system. The SEC’s 

EDGAR system may be searched at 

https://www.sec.gov/edgar/searchedgar/ 

legacy/companysearch.html. You may 

also call the SEC’s Public Reference 

Room at (202) 551–8090. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15317 Filed 7–18–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95273; File No. SR– 

NYSEArca–2022–38] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Modify Rule 7.31–E 

July 13, 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 July 6, 

2022, NYSE Arca, Inc. (‘‘NYSE Arca’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘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 modify 

Rule 7.31–E to (1) permit certain nonroutable order types to be designated to 

cancel if they would be displayed at a 

price other than their limit price; (2) 

allow ALO Orders to be designated as 

non-displayed; (3) permit ALO Orders 

to be entered in any size; (4) modify the 

operation of the Non-Display Remove 

Modifier and eliminate its use with 

MPL–ALO Orders; and (5) make MPL 

Orders eligible to trade at their limit 

price and eliminate the ‘‘No Midpoint 

Execution’’ Modifier. 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 amend 

Rule 7.31–E to (1) permit certain nonroutable order types to be designated to 

cancel if they would be displayed at a 

price other than their limit price; (2) 

allow ALO Orders to be designated as 

non-displayed; (3) permit ALO Orders 

to be entered in any size; (4) modify the 

handling of orders designated with the 

Non-Display Remove Modifier and 

eliminate the use of the Non-Display 

Remove Modifier for MPL–ALO Orders; 

and (5) allow MPL Orders to trade at 

either the midpoint or their limit price 

and eliminate the ‘‘No Midpoint 

Execution’’ Modifier. 

Designation To Cancel 

The Exchange proposes to modify 

Rules 7.31–E(e)(1), 7.31–E(e)(2), and 

7.31–E(e)(3)(D) to permit Non-Routable 

Limit Orders, displayed ALO Orders,4

and Day ISO ALO Orders to be 

designated to cancel if they would be 

displayed at a price other than their 

limit price for any reason. 

As proposed, Non-Routable Limit 

Orders, displayed ALO Orders, and Day 

ISO ALO Orders would be eligible to be 

designated to cancel at the ETP Holder’s 

instruction, thereby providing ETP 

Holders with increased flexibility with 

respect to order handling and the ability 

to have greater determinism regarding 

order processing when such orders 

would be repriced to display at a price 

other than their limit price. The 

Exchange notes that this designation 

would be optional, and if not designated 

to cancel, Non-Routable Limit Orders, 

displayed ALO Orders, and Day ISO 

ALO Orders would continue to function 

as set forth in current Exchange rules 

(except as proposed in this filing with 

respect to the function of the NonDisplay Remove Modifier and odd lots). 

The Exchange further notes that 

providing ETP Holders with the ability 

to designate orders to cancel if they 

would be repriced is not novel, and 

other cash equity exchanges currently 

offer their members a similar option.5

To effect this change, the Exchange 

proposes the following modifications to 

Rules 7.31–E(e)(1), 7.31–E(e)(2), and 

7.31–E(e)(3)(D): 

• Rule 7.31–E(e)(1)—Non-Routable 

Limit Orders 

As defined in Rule 7.31–E(e)(1), a 

Non-Routable Limit Order is a Limit 

Order that does not route. Currently, a 

Non-Routable Limit Order to buy (sell) 

will trade with orders to sell (buy) on 


jspears on DSKJM1Z7X2PROD with NOTICES