Document ID: SEC-2022-0351-0001
Agency: sec
Document Type: Notice
Title: National Market System Plan Governing the Consolidated Audit Trail for Purposes of Short Sale-Related Data Collection
Posted Date: 2022-03-16T04:00Z

[Federal Register Volume 87, Number 51 (Wednesday, March 16, 2022)]
[Notices]
[Pages 15022-15024]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04671]

[[Page 15021]]

Vol. 87

Wednesday,

No. 51

March 16, 2022

Part III

Securities and Exchange Commission

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Notice of the Text of the Proposed Amendments to the National Market 
System Plan Governing the Consolidated Audit Trail for Purposes of 
Short Sale-Related Data Collection; Notice

  Federal Register / Vol. 87 , No. 51 / Wednesday, March 16, 2022 / 
Notices  

[[Page 15022]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94314; File No. S7-08-22]

Notice of the Text of the Proposed Amendments to the National 
Market System Plan Governing the Consolidated Audit Trail for Purposes 
of Short Sale-Related Data Collection

AGENCY: Securities and Exchange Commission.

ACTION: Notice of the text of the proposed amendments to national 
market system plan.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
publishing notice of the text of the proposed amendments to the 
National Market System Plan Governing the Consolidated Audit Trail 
(``CAT NMS Plan'') in connection with the Commission's issuance of 
Release No. 34-94313, the ``Short Position and Short Activity Reporting 
by Institutional Investment Managers'' (the ``Proposing Release'').

FOR FURTHER INFORMATION CONTACT: Andrew Sherman, Special Counsel; and 
David Cohen, Attorney-Advisor, Office of Market Supervision, Division 
of Trading and Markets; and Timothy M. Riley, Branch Chief; Patrice M. 
Pitts, Special Counsel; James R. Curley, Special Counsel; Quinn Kane, 
Special Counsel; Jessica Kloss, Attorney-Advisor; Brendan McLeod, 
Attorney-Advisor; and Josephine J. Tao, Assistant Director, Office of 
Trading Practices, Division of Trading and Markets, Securities and 
Exchange Commission, 100 F Street NE, Washington, DC 20549, at (202) 
551-5777.
    In the Proposing Release, the Commission is proposing for comment a 
new rule prescribing a ``buy to cover'' order marking requirement under 
Regulation SHO (Proposed Rule 205) (17 CFR 242.205), as well as new 
Rule 13f-2 (Proposed Rule 13f-2) (17 CFR 240.13f-2) and related form 
(Proposed Form SHO) (17 CFR 249.XXX) under the Securities Exchange Act 
of 1934 (``Exchange Act''). Proposed Rule 13f-2 would require certain 
institutional investment managers to report, on a monthly basis on new 
Proposed Form SHO, certain short position data and short activity data 
for certain equity securities as prescribed in Proposed Rule 13f-2. 
Proposed Rule 205 would establish a new ``buy to cover'' order marking 
requirement for certain purchase orders effected by a broker-dealer for 
its own account or for the account of another person at the broker-
dealer. In the Proposing Release, the Commission is also proposing 
amendments to the CAT NMS Plan that would require the reporting to the 
Consolidated Audit Trail of (i) ``buy to cover'' order marking 
information and (ii) reliance on the bona fide market making exception 
in Regulation SHO. This Notice is being given of the text of the 
proposed amendments to the CAT NMS Plan. For a full discussion of the 
proposed amendments to the CAT NMS Plan, see the Proposing Release.
    To comment on the proposed amendments to the CAT NMS Plan 
(including the text contained in this notice), please provide comments 
to the rulemaking file S7-08-22, as outlined in the Proposing Release.

Statutory Authority and Text of Amendments to the CAT NMS Plan

    Pursuant to the Exchange Act and, particularly, Sections 2, 3, 5, 
6, 11A(a)(3)(B), 15, 15A, 17(a) and (b), 19, and 23(a) thereof, 15 
U.S.C. 78b, 78c, 78e, 78f, 78k-1, 78o, 78o-3, 78q(a) and (b), 78s, 
78w(a), and pursuant to Rule 608(a)(2) and (b)(2) thereunder, the 
Commission proposes to amend the CAT NMS Plan in the manner set forth 
below.
    Amend Section 6.4 of the CAT NMS Plan by modifying subparagraphs 
(d)(ii)(B) and (C) and adding subparagraphs (d)(ii)(D) and (E).
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    By the Commission.

    Dated: February 25, 2022.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2022-04671 Filed 3-15-22; 8:45 am]
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