Document ID: SEC-2021-0919-0001
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: 2021-07-01T04:00Z

[Federal Register Volume 86, Number 124 (Thursday, July 1, 2021)]
[Notices]
[Page 35142]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-14012]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92266; 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

June 25, 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. (``FINRA''), 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\
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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, 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.
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    On April 6, 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 the 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 a longer period.\6\ 
The 180th day after publication of the Notice for the Proposed 
Amendment is July 5, 2021. The Commission is extending this 180-day 
period.
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    \5\ See Exchange Act Release No. 91487 (April 6, 2021), 86 FR 
19054 (April 12, 2021).
    \6\ 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 September 
3, 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.
    \8\ 17 CFR 200.30-3(a)(85).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-14012 Filed 6-30-21; 8:45 am]
BILLING CODE 8011-01-P