Document ID: SEC-2021-1202-0001
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: 2021-09-07T04:00Z

[Federal Register Volume 86, Number 170 (Tuesday, September 7, 2021)]
[Notices]
[Page 50201]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19341]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92854; 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

September 2, 2021.

I. Introduction

    On December 18, 2020, the Operating Committee for Consolidated 
Audit Trail, LLC (``CAT LLC''), 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'') 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 that 
would authorize CAT LLC to revise the Consolidated Audit Trail Reporter 
Agreement and the Consolidated Audit Trail Reporting Agent Agreement to 
insert limitation of liability provisions. The Proposed Amendment was 
published for comment in the Federal Register on January 6, 2021.\4\
---------------------------------------------------------------------------

    \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, Exchange Act 
Release No. 90826 (December 30, 2020), 86 FR 591 (``Notice''). 
Comments received in response to the Notice can be found on the 
Commission's website at https://www.sec.gov/comments/4-698/4-698.htm.
---------------------------------------------------------------------------

    On April 6, 2021, the Commission instituted proceedings to 
determine whether to approve or disapprove the Proposed Amendment.\5\ 
On June 25, 2021, pursuant to Rule 608(b)(2)(i) of Regulation NMS,\6\ 
the Commission extended the period within which to conclude proceedings 
regarding the Proposed Amendment to 240 days from the date of 
publication of the Notice.\7\
---------------------------------------------------------------------------

    \5\ See Exchange Act Release No. 91487 (April 6, 2021), 86 FR 
19054 (April 12, 2021).
    \6\ See 17 CFR 242.608(b)(2)(i).
    \7\ See Securities Exchange Act Release No. 92266 (June 25, 
2021), 86 FR 35142 (July 1, 2021).
---------------------------------------------------------------------------

    Rule 608(b)(2)(ii) of Regulation NMS provides that the time for 
conclusion of proceedings to determine whether a national market system 
plan or proposed amendment should be disapproved may be extended for an 
additional period up to 60 days (up to 300 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.\8\ The 240th day after 
publication of the Notice for the Proposed Amendment is September 3, 
2021. The Commission is extending this 240-day period.
---------------------------------------------------------------------------

    \8\ See 17 CFR 242.608(b)(2)(ii).
---------------------------------------------------------------------------

    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)(ii) of Regulation NMS,\9\ the Commission designates November 
2, 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).
---------------------------------------------------------------------------

    \9\ Id.

    By the Commission.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021-19341 Filed 9-3-21; 8:45 am]
BILLING CODE 8011-01-P