30508 Federal Register / Vol. 86, No. 108 / Tuesday, June 8, 2021 / 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). 

5A ‘‘complex order’’ is any order involving the 

concurrent purchase and/or sale of two or more 

different options in the same underlying security 

(the ‘‘legs’’ or ‘‘components’’ of the complex order), 

for the same account, in a ratio that is equal to or 

greater than one-to-three (.333) and less than or 

equal to three-to-one (3.00) and for the purposes of 

executing a particular investment strategy. Minioptions may only be part of a complex order that 

includes other mini-options. Only those complex 

orders in the classes designated by the Exchange 

and communicated to Members via Regulatory 

Circular with no more than the applicable number 

of legs, as determined by the Exchange on a classby-class basis and communicated to Members via 

Regulatory Circular, are eligible for processing. See 

Exchange Rule 518(a)(5). 

6The ‘‘Simple Order Book’’ is the Exchange’s 

regular electronic book of orders and quotes. See 

Exchange Rule 518(a)(15). 

7The term ‘‘NBBO’’ means the national best bid 

or offer as calculated by the Exchange based on 

market information received by the Exchange from 

the appropriate Securities Information Processor 

(‘‘SIP’’). See Exchange Rule 518(a)(14). 

of the new Sub-Adviser pursuant to the 

Modified Notice and Access Procedures. 

5. At all times, at least a majority of 

the Board will be Independent Trustees, 

and the selection and nomination of 

new or additional Independent Trustees 

will be placed within the discretion of 

the then-existing Independent Trustees. 

6. Independent Legal Counsel, as 

defined in Rule 0–1(a)(6) under the Act, 

will be engaged to represent the 

Independent Trustees. The selection of 

such counsel will be within the 

discretion of the then-existing 

Independent Trustees. 

7. Whenever a Sub-Adviser is hired or 

terminated, the Adviser will provide the 

Board with information showing the 

expected impact on the profitability of 

the Adviser. 

8. The Board must evaluate any 

material conflicts that may be present in 

a sub-advisory arrangement. 

Specifically, whenever a sub-adviser 

change is proposed for a Sub-Advised 

Fund (‘‘Sub-Adviser Change’’) or the 

Board considers an existing SubAdvisory Agreement as part of its 

annual review process (‘‘Sub-Adviser 

Review’’): 

(a) The Adviser will provide the 

Board, to the extent not already being 

provided pursuant to Section 15(c) of 

the Act, with all relevant information 

concerning: 

(i) Any material interest in the 

proposed new Sub-Adviser, in the case 

of a Sub-Adviser Change, or the SubAdviser in the case of a Sub-Adviser 

Review, held directly or indirectly by 

the Adviser or a parent or sister 

company of the Adviser, and any 

material impact the proposed SubAdvisory Agreement may have on that 

interest; 

(ii) any arrangement or understanding 

in which the Adviser or any parent or 

sister company of the Adviser is a 

participant that (A) may have had a 

material effect on the proposed SubAdviser Change or Sub-Adviser Review, 

or (B) may be materially affected by the 

proposed Sub-Adviser Change or SubAdviser Review; 

(iii) any material interest in a SubAdviser held directly or indirectly by an 

officer or Trustee of the Sub-Advised 

Fund, or an officer or board member of 

the Adviser (other than through a 

pooled investment vehicle not 

controlled by such person); and 

(iv) any other information that may be 

relevant to the Board in evaluating any 

potential material conflicts of interest in 

the proposed Sub-Adviser Change or 

Sub-Adviser Review. 

(b) the Board, including a majority of 

the Independent Trustees, will make a 

separate finding, reflected in the Board 

minutes, that the Sub-Adviser Change or 

continuation after Sub-Adviser Review 

is in the best interests of the SubAdvised Fund and its shareholders and, 

based on the information provided to 

the Board, does not involve a conflict of 

interest from which the Adviser, a SubAdviser, any officer or Trustee of the 

Sub-Advised Fund, or any officer or 

board member of the Adviser derives an 

inappropriate advantage. 

9. Each Sub-Advised Fund will 

disclose in its registration statement the 

Aggregate Fee Disclosure. 

10. In the event that the Commission 

adopts a rule under the Act providing 

substantially similar relief to that in the 

order requested in the application, the 

requested order will expire on the 

effective date of that rule. 

11. Any new Sub-Advisory 

Agreement or any amendment to an 

existing Investment Advisory 

Agreement or Sub-Advisory Agreement 

that directly or indirectly results in an 

increase in the aggregate advisory fee 

rate payable by the Sub-Advised Fund 

will be submitted to the Sub-Advised 

Fund’s shareholders for approval. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–11917 Filed 6–7–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92090; File No. SR–MIAX– 

2021–22] 

Self-Regulatory Organizations; Miami 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Delay Implementation of an 

Amendment to Rule 518, Complex 

Orders, To Permit Legging Through 

the Simple Market 

June 2, 2021. 

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

Securities Exchange Act of 1934 

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

notice is hereby given that on May 21, 

2021, Miami International Securities 

Exchange, LLC (‘‘MIAX Options’’ or the 

‘‘Exchange’’) 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 

Exchange filed the 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 

The Exchange is filing a proposal to 

delay implementation of the change to 

allow a component of a complex order 5

that legs into the Simple Order Book 6 to 

execute at a price that is outside the 

NBBO.7

The text of the proposed rule change 

is available on the Exchange’s website at 

http://www.miaxoptions.com/rulefilings/ at MIAX Options’ principal 

office, 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. 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 108 / Tuesday, June 8, 2021 / Notices 30509 

8See Securities Exchange Release No. 87440 

(November 1, 2019), 84 FR 60117 (November 7, 

2019) (SR–MIAX–2019–45). 

9See Securities Exchange Release No. 90507 

(November 24, 2020), 85 FR 77321 (December 1, 

2020) (SR–MIAX–2020–36). 

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). 14 15 U.S.C. 78s(b)(2)(B). 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On October 22, 2019, the Exchange 

filed a proposed rule change to amend 

subsection (c)(2)(iii) of Exchange Rule 

518, Complex Orders, to remove the 

provision which provides that a 

component of a complex order that legs 

into the Simple Order Book may not 

execute at a price that is outside the 

NBBO.8 The proposed rule change 

indicated that the Exchange would 

announce the implementation date of 

the proposed rule change by Regulatory 

Circular to be published no later than 90 

days following the operative date of the 

proposed rule. The implementation date 

will be no later than 90 days following 

the issuance of the Regulatory Circular. 

The Exchange delayed the 

implementation of this functionality 

until the second quarter of 2021.9 The 

Exchange now proposes to delay the 

implementation of this functionality 

until the second quarter of 2022. 

The Exchange proposes this delay in 

order to allow the Exchange to complete 

its reprioritization of its software 

delivery and release schedule as a result 

of a shift in priorities due to the impact 

the coronavirus pandemic has had on 

Exchange operations. The Exchange will 

issue a Regulatory Circular notifying 

market participants at least 45 days 

prior to implementing this functionality. 

2. Statutory Basis 

The Exchange believes that its 

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 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in, securities, to 

remove impediments to and perfect the 

mechanisms of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest by allowing the 

Exchange additional time to plan and 

implement the proposed functionality. 

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 that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange’s proposal to delay the 

implementation of the proposed 

functionality does not impose an undue 

burden on competition. Delaying the 

implementation will simply allow the 

Exchange additional time to properly 

plan and implement the proposed 

functionality. 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on intramarket competition 

as the delay will apply equally to all 

Members of the Exchange. 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on intermarket competition 

as the proposal is to delay the 

implementation of approved 

functionality which affects MIAX 

Members only and does not impact 

intermarket competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

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 

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. 

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) 14 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– 

MIAX–2021–22 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–MIAX–2021–22. 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 


jbell on DSKJLSW7X2PROD with NOTICES
30510 Federal Register / Vol. 86, No. 108 / Tuesday, June 8, 2021 / Notices 

15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release Nos. 91598 

(April 16, 2021), 86 FR 21373 (April 22, 2021) (SR– 

NYSE–2021–25); 91599 (April 16, 2021), 86 FR 

21365 (April 22, 2021) (SR–NYSEAMER–2021–21); 

91600 (April 16, 2021), 86 FR 21384 (April 22, 

2021) (SR–NYSEArca–2021–24); 91601 (April 16, 

2021), 86 FR 21410 (April 22, 2021) (SR– 

NYSECHX–2021–07); and 91602 (April 16, 2021), 

86 FR 21393 (April 22, 2021) (SR–NYSENAT–2021– 

09) (collectively, the ‘‘Notices’’). 

4 15 U.S.C. 78s(b)(2). 

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

6 17 CFR 200.30–3(a)(31). 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–MIAX–2021–22, and 

should be submitted on or before June 

29, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–11912 Filed 6–7–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92089; File Nos. SR–NYSE– 

2021–25, SR–NYSEAMER–2021–21, SR– 

NYSEArca–2021–24, SR–NYSECHX–2021– 

07, SR–NYSENAT–2021–09] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC, NYSE 

American LLC, NYSE Arca, Inc., NYSE 

Chicago, Inc., and NYSE National, Inc.; 

Notice of Designation of a Longer 

Period for Commission Action on 

Proposed Rule Changes To Amend the 

Fee Schedule To Add Meet-Me-Room 

Connectivity Services Available at the 

Mahwah Data Center 

June 2, 2021. 

On April 9, 2021, New York Stock 

Exchange LLC, NYSE American LLC, 

NYSE Arca, Inc., NYSE Chicago, Inc., 

and NYSE National, Inc. each 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 amend the schedule of 

connectivity services available at the 

Mahwah data center to add services 

available to customers in the meet me 

rooms in the Mahwah data center and 

procedures for the allocation of cabinets 

and power to such customers. The 

proposed rule changes were published 

for comment in the Federal Register on 

April 22, 2021.3 The Commission has 

received no comment letters on the 

proposed rule changes. 

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a propose rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it find such longer period to 

be appropriate and published its reasons 

for so finding or as to which the selfregulatory 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 Notices for these 

proposed rule changes is June 6, 2021. 

The Commission is extending this 45- 

day period. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to take action on the 

proposed rule changes so that it has 

sufficient time to consider the proposed 

rule changes. Accordingly, pursuant to 

Section 19(b)(2) of the Act,5 the 

Commission designates July 21, 2021, as 

the date by which the Commission shall 

either approve or disapprove, or 

institute proceedings to determine 

whether to approve or disapprove, the 

proposed rule changes (File Nos. SR– 

NYSE–2021–25, SR–NYSEAMER–2021– 

21, SR–NYSEArca–2021–24, SR– 

NYSECHX–2021–07, SR–NYSENAT– 

2021–09). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–11911 Filed 6–7–21; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #16995 and #16996; 

Louisiana Disaster Number LA–00112] 

Presidential Declaration of a Major 

Disaster for the State of Louisiana 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for the State of Louisiana 

(FEMA–4606–DR), dated 06/02/2021. 

Incident: Severe Storms, Tornadoes, 

and Flooding. 

Incident Period: 05/17/2021 through 

05/21/2021. 

DATES: Issued on 06/02/2021. 

Physical Loan Application Deadline 

Date: 08/02/2021. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 03/02/2022. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

06/02/2021, applications for disaster 

loans may be filed at the address listed 

above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Parishes (Physical Damage and 

Economic Injury Loans): Ascension, 

Calcasieu, East Baton Rouge, 

Iberville, Lafayette. 

Contiguous Parishes/Counties 

(Economic Injury Loans Only): 

Louisiana: Acadia, Assumption, 

Beauregard, Cameron, East 

Feliciana, Iberia, Jefferson Davis, 

Livingston, Pointe Coupee, Saint 

Helena, Saint James, Saint Landry, 

Saint Martin, St John the Baptist, 

Vermilion, West Baton Rouge. 

Texas: Newton, Orange. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Homeowners with Credit Available Elsewhere .................... 3.250 

Homeowners without Credit 

Available Elsewhere ............ 1.625 

Businesses with Credit Available Elsewhere .................... 5.760 

Businesses without Credit 

Available Elsewhere ............ 2.880 

Non-Profit Organizations with 

Credit Available Elsewhere 2.000 

Non-Profit Organizations without Credit Available Elsewhere ................................... 2.000 

For Economic Injury: 

Businesses & Small Agricultural Cooperatives without 

Credit Available Elsewhere 2.880 

Non-Profit Organizations without Credit Available Elsewhere ................................... 2.000 

The number assigned to this disaster 

for physical damage is 16995 B and for 

economic injury is 16996 0. 


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