Document ID: SEC-2021-1382-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Designation of a Longer Period for Commission Action on a Proposed Amendment to the National Market System Plan Governing the Consolidated Audit Trail
Posted Date: 2021-10-07T04:00Z

[Federal Register Volume 86, Number 192 (Thursday, October 7, 2021)]
[Notices]
[Pages 55900-55901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21868]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93227; File No. 4-698]

Joint Industry Plan; Notice of Designation of a Longer Period for 
Commission Action on a Proposed Amendment to the National Market System 
Plan Governing the Consolidated Audit Trail

October 1, 2021.
    On March 31, 2021, the Operating Committee for Consolidated Audit 
Trail, LLC (``CAT LLC'' or the ``Company''), on behalf of the following 
parties to the National Market System Plan Governing the Consolidated 
Audit Trail (the ``CAT NMS Plan'' or ``Plan''): \1\ BOX Exchange LLC; 
Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, 
Inc., Cboe EDGX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe Exchange, 
Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange 
LLC, Long-Term Stock Exchange, Inc., Miami International Securities 
Exchange LLC, MEMX, LLC, MIAX Emerald, LLC, MIAX PEARL, LLC, Nasdaq BX, 
Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX 
LLC, The NASDAQ Stock Market LLC, New York Stock Exchange LLC, NYSE 
American LLC, NYSE Arca, Inc., NYSE Chicago, Inc., and NYSE National, 
Inc. (collectively, the ``Participants,'' ``self-regulatory 
organizations,'' or ``SROs'') filed with the Securities and Exchange 
Commission (``SEC'' or ``Commission'')

[[Page 55901]]

pursuant to Section 11A(a)(3) of the Securities Exchange Act of 1934 
(``Exchange Act''),\2\ and Rule 608 thereunder,\3\ a proposed amendment 
(``Proposed Amendment'') to the CAT NMS Plan to implement a revised 
funding model for the consolidated audit trail (``CAT'') and to 
establish a fee schedule for Participant CAT fees in accordance with 
the Proposed Funding Model . The Proposed Amendment was published for 
comment in the Federal Register on April 21, 2021.\4\
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    \1\ The CAT NMS Plan is a national market system plan approved 
by the Commission pursuant to Section 11A of the Exchange Act and 
the rules and regulations thereunder. See Securities Exchange Act 
Release No. 79318 (November 15, 2016), 81 FR 84696 (November 23, 
2016).
    \2\ 15 U.S.C 78k-1(a)(3).
    \3\ 17 CFR 242.608.
    \4\ See Notice of Filing of Amendment to the National Market 
System Plan Governing the Consolidated Audit Trail, Release No. 
91555 (April 14, 2021), 86 FR 21050 (``Notice'').
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    On July 20, 2021, the Commission instituted proceedings to 
determine whether to approve or disapprove the Proposed Amendment.\5\ 
Rule 608(b)(2)(i) of Regulation NMS provides that such proceedings 
shall be concluded within 180 days of the date of publication of notice 
of the plan or amendment and that the time for conclusion of such 
proceedings may be extended for up to 60 days (up to 240 days from the 
date of notice publication) if the Commission determines that a longer 
period is appropriate and publishes the reasons for such determination 
or the plan participants consent to the longer period.\6\ The 180th day 
after publication of the Notice for the Proposed Amendment is October 
18, 2021. The Commission is extending this 180-day period.
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    \5\ See Securities Exchange Act Release No. 92451 (July 20, 
2021), 86 FR 40114 (July 26, 2021) (``OIP''). Comments received in 
response to the Notice and OIP can be found on the Commission's 
website at https://www.sec.gov/comments/4-698/4-698-a.htm.
    \6\ See 17 CFR 242.608(b)(2)(i).
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    The Commission finds that it is appropriate to designate a longer 
period within which to conclude proceedings regarding the Proposed 
Amendment so that it has sufficient time to consider the Proposed 
Amendment and the comments received. Accordingly, pursuant to Rule 
608(b)(2)(i) of Regulation NMS,\7\ the Commission designates December 
17, 2021, as the date by which the Commission shall conclude the 
proceedings to determine whether to approve or disapprove the Proposed 
Amendment (File No. 4-698).
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(85).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-21868 Filed 10-6-21; 8:45 am]
BILLING CODE 8011-01-P