Document ID: SEC-2021-1779-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: National Market System Plan Governing the Consolidated Audit Trail; Withdrawal
Posted Date: 2021-12-22T05:00Z

[Federal Register Volume 86, Number 243 (Wednesday, December 22, 2021)]
[Notices]
[Page 72656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-27749]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93817; File No. 4-698]

Joint Industry Plan; Notice of Withdrawal of Amendment to the 
National Market System Plan Governing the Consolidated Audit Trail

December 17, 2021.

I. Introduction

    On March 31, 2021, the Operating Committee for Consolidated Audit 
Trail, 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. (the 
``Participants'') filed with the Securities and Exchange Commission 
(``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 to 
implement a revised funding model (``Proposed 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) (``CAT NMS Plan Approval Order''). The CAT NMS Plan functions 
as the limited liability company agreement of the jointly owned 
limited liability company formed under Delaware state law through 
which the Participants conduct the activities of the CAT 
(``Company''). On August 29, 2019, the Participants replaced the CAT 
NMS Plan in its entirety with the limited liability company 
agreement of a new limited liability company named Consolidated 
Audit Trail, LLC, which became the Company. The latest version of 
the CAT NMS Plan is available at https://catnmsplan.com/about-cat/cat-nms-plan.
    \2\ 15 U.S.C. 78k-1(a)(3).
    \3\ 17 CFR 242.608.
    \4\ See Securities Exchange Act Release No. 91555 (April 14, 
2021), 86 FR 21050 (``Notice'').
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    On July 20, 2021, the Commission instituted proceedings pursuant to 
Rule 608(b)(2)(i) of Regulation NMS,\5\ to determine whether to 
disapprove the Proposed Amendment or to approve the Proposed Amendment 
with any changes or subject to any conditions the Commission deems 
necessary or appropriate after considering public comment.\6\ On 
October 1, 2021, the Commission designated a longer period within which 
to conclude proceedings regarding the Proposed Amendment.\7\
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    \5\ 17 CFR 242.608(b)(2)(i).
    \6\ See Securities Exchange Act Release No. 92451, 86 FR 40114 
(July 26, 2021) (``OIP''). Comments received in response to the OIP 
and the Notice can be found on the Commission's website at https://www.sec.gov/comments/4-698/4-698-a.htm.
    \7\ See Securities Exchange Act Release No. 93227 (October 1, 
2021), 86 FR 55900 (October 7, 2021).
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    The Commission is publishing this notice to reflect that on 
December 8, 2021, prior to the end of the 240-day period provided for 
in Exchange Act Rule 608(b)(2)(i),\8\ the Participants withdrew the 
Proposed Amendment.\9\
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    \8\ 17 CFR 242.608(b)(2)(i).
    \9\ See Letter from Michael Simon, Chair, CAT NMS Plan Operating 
Committee, to Vanessa Countryman, Secretary, Commission, dated 
December 8, 2021.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-27749 Filed 12-21-21; 8:45 am]
BILLING CODE 8011-01-P