Rule 173 60 Day Federal Register Notice

Federal Register / Vol. 85, No. 160 / Tuesday, August 18, 2020 / Notices
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–MIAX–2020–26 and should
be submitted on or before September 8,
2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.34
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–17963 Filed 8–17–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89532; File Nos. SR–NYSE–
2020–05, SR–NYSEAMER–2020–05, SR–
NYSEArca–2020–08, SR–NYSECHX–2020–
02, SR–NYSENAT–2020–03]

Self-Regulatory Organizations; New
York Stock Exchange LLC, NYSE
Chicago, Inc., NYSE American LLC,
NYSE Arca, Inc., and NYSE National,
Inc.; Notice of Designation of a Longer
Period for Commission Action on
Proceedings To Determine Whether To
Approve or Disapprove Proposed Rule
Changes, as Modified by Amendment
No. 1, To Establish a Schedule of
Wireless Connectivity Fees and
Charges With Wireless Connections
Between the Mahwah, New Jersey Data
Center and Other Data Centers
August 12, 2020.

On January 30, 2020, New York Stock
Exchange LLC, NYSE Chicago, Inc.,
NYSE American LLC, NYSE Arca, Inc.,
and NYSE National, Inc. (collectively,
the ‘‘Exchanges’’) each filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change to
establish a schedule of Wireless
Connectivity Fees and Charges with
wireless connections between the
Mahwah, New Jersey data center and
other data centers. The proposed rule
changes were published for comment in
the Federal Register on February 18,
2020.3 On April 1, 2020, pursuant to
34 17

CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release Nos. 88168
(February 11, 2020), 85 FR 8938 (February 18, 2020)
(SR–NYSE–2020–05); 88169 (February 11, 2020), 85
FR 8946 (February 18, 2020) (SR–NYSEAMER–
2020–05); 88170 (February 11, 2020), 85 FR 8956
(February 18, 2020) (SR–NYSEArca–2020–08);
88172 (February 11, 2020), 85 FR 8923 (February
18, 2020) (SR–NYSECHX–2020–02); and 88171
(February 11, 2020), 85 FR 8930 (February 18, 2020)
(SR–NYSENAT–2020–03) (collectively, the
‘‘Notices’’).

jbell on DSKJLSW7X2PROD with NOTICES

1 15

VerDate Sep<11>2014

17:50 Aug 17, 2020

Jkt 250001

Section 19(b)(2) of the Act,4 the
Commission designated a longer period
within which to either approve the
proposed rule changes, disapprove the
proposed rule changes, or institute
proceedings to determine whether to
approve or disapprove the proposed
rule changes.5 On May 18, 2020, the
Commission instituted proceedings to
determine whether to approve or
disapprove the proposed rule changes.6
On July 27, 2020, the Exchanges each
filed Amendment No. 1 to the proposed
rule changes. Notice of Amendment No.
1 to the proposed rule changes was
published for comment in the Federal
Register on August 7, 2020.7 The
Commission has received comment
letters on the proposed rule changes, as
modified by Amendment No. 1.8
Section 19(b)(2) of the Act 9 provides
that, after initiating proceedings, the
Commission shall issue an order
approving or disapproving the proposed
rule change not later than 180 days after
the date of publication of notice of filing
of the proposed rule change. The
Commission may extend the period for
issuing an order approving or
disapproving the proposed rule change,
however, by not more than 60 days if
the Commission determines that a
longer period is appropriate and
publishes the reasons for such
determination. The proposed rule
changes were published for notice and
comment in the Federal Register on
February 18, 2020.10 August 16, 2020 is
180 days from that date, and October 15,
2020 is 240 days from that date.
The Commission finds it appropriate
to designate a longer period within
which to issue an order approving or
disapproving the proposed rule changes,
as modified by Amendment No. 1, so
that it has sufficient time to consider the
4 15

U.S.C. 78s(b)(2).
Securities Exchange Act Release No. 88539
(April 1, 2020), 85 FR 19553 (April 7, 2020). The
Commission designated May 18, 2020, as the date
by which it should approve, disapprove, or institute
proceedings to determine whether to approve or
disapprove the proposed rule changes.
6 See Securities Exchange Act Release No. 88901
(May 18, 2020), 85 FR 31273 (May 22, 2020).
7 See Securities Exchange Act Release Nos. 88168
(August 3, 2020), 85 FR 47992 (August 7, 2020)
(SR–NYSE–2020–05); 89454 (August 3, 2020), 85
FR 48002 (August 7, 2020) (SR–NYSEAMER–2020–
05); 89455 (August 3, 2020), 85 FR 48035 (August
7, 2020) (SR–NYSEArca–2020–08); 89456 (August
3, 2020), 85 FR 48024 (August 7, 2020) (SR–
NYSECHX–2020–02); and 89457 (August 3, 2020),
85 FR 47997 (August 7, 2020) (SR–NYSENAT–
2020–03).
8 Comments received on the proposed rule
changes, as modified by Amendment No. 1, are
available on the Commission’s website at: https://
www.sec.gov/comments/sr-nyse-2020-05/
srnyse202005.htm.
9 15 U.S.C. 78s(b)(2).
10 See Notices, supra note 3.
5 See

PO 00000

Frm 00053

Fmt 4703

Sfmt 4703

50849

proposed rule changes, as modified by
Amendment No. 1, the issues raised in
the comment letters that have been
submitted in connection therewith, and
the Exchanges’ responses to comments.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,11
designates October 15, 2020 as the date
by which the Commission should either
approve or disapprove the proposed
rule changes (File Nos. SR–NYSE–2020–
05, SR–NYSEAMER–2020–05, SR–
NYSEArca–2020–08, SR–NYSECHX–
2020–02, SR–NYSENAT–2020–03), as
modified by Amendment No. 1.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–17965 Filed 8–17–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–557, OMB Control No.
3235–0618]

Proposed Collection; Comment
Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Extension: Rule 173

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Securities Act Rule 173 (17 CFR
230.173) provides a notice of
registration to investors who purchased
securities in a registered offering under
the Securities Act of 1933 (15 U.S.C. 77a
et seq.). A Rule 173 notice must be
provided by underwriter or dealer to
each investor who purchased securities
from the underwriter or dealer. The
Rule 173 notice is not publicly
available. We estimate that it takes
approximately 0.0167 hour per response
to provide the information required
under Rule 173 and that the information
is filed by approximately 5,338
respondents approximately 43,546 times
11 15
12 17

E:\FR\FM\18AUN1.SGM

U.S.C. 78s(b)(2).
CFR 200.30–3(a)(31).

18AUN1

50850

Federal Register / Vol. 85, No. 160 / Tuesday, August 18, 2020 / Notices

a year for a total of 232,448,548
responses. We estimate that the total
annual reporting burden for Rule 173 is
3,881,891 hours (0.0167 hours per
response × 232,448,548 responses).
Written comments are invited on: (a)
Whether this proposed collection of
information is necessary for the
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the
collections of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
Please direct your written comment to
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected].
Dated: August 13, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–17996 Filed 8–17–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89537; File No. SR–BOX–
2020–16]

jbell on DSKJLSW7X2PROD with NOTICES

Self-Regulatory Organizations; BOX
Exchange LLC; Notice of Filing of
Amendment No. 1 and Order Instituting
Proceedings To Determine Whether To
Approve or Disapprove a Proposed
Rule Change, as Modified by
Amendment No. 1, in Connection With
the Proposed Establishment of the
Boston Security Token Exchange LLC
as a Facility of the Exchange
August 12, 2020.

On May 12, 2020, BOX Exchange LLC
(‘‘Exchange’’ or ‘‘BOX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act

VerDate Sep<11>2014

17:50 Aug 17, 2020

Jkt 250001

of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change in
connection with the proposed
commencement of operations of the
Boston Security Token Exchange LLC
(‘‘BSTX’’) as a facility of the Exchange.
The proposed rule change was
published for comment in the Federal
Register on June 1, 2020.3 On July 16,
2020, pursuant to Section 19(b)(2) of the
Act,4 the Commission designated a
longer period within which to approve
the proposed rule change, disapprove
the proposed rule change, or institute
proceedings to determine whether to
disapprove the proposed rule change.5
On August 3, 2020, the Exchange filed
Amendment No. 1 to the proposed rule
change (‘‘Amendment No. 1’’).6 The
Commission has received no comment
letters on the proposed rule change, as
modified by Amendment No. 1.7
The Commission is publishing this
notice and order to solicit comments on
the proposed rule change, as modified
by Amendment No. 1, from interested
persons and to institute proceedings
pursuant to Section 19(b)(2)(B) of the
Act 8 to determine whether to approve
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 88949
(May 26, 2020), 85 FR 33258 (June 1, 2020)
(‘‘Notice’’).
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 89329
(July 16, 2020), 85 FR 44333 (July 22, 2020). The
Commission designated August 30, 2020, as the
date by which the Commission shall approve or
disapprove, or institute proceedings to determine
whether to disapprove, the proposed rule change.
6 The Exchange states that Amendment No. 1
makes the following changes: (1) Where the
proposed rule change used the term ‘‘digital
security token,’’ the Exchange is now proposing to
use the term ‘‘security’’ when referring to the
proposed operation of the ‘‘BSTX Market’’; (2)
provide additional detail and clarification on the
effect of BSTX’s approval as a facility of the
Exchange; and (3) update citations related to two
Exchange rule filings. When the Exchange filed
Amendment No. 1 to SR–BOX–2020–16, it also
submitted a redline, which the Exchange states
reflects the text of the partial amendment compared
to the original filing, as a comment letter to the
filing, and which the Commission made publicly
available at https://www.sec.gov/comments/sr-box2020-16/srbox202016-7525322-222100.pdf.
7 The Commission notes that the proposed rule
change, as modified by Amendment No. 1, is
substantially similar to previously-filed proposed
rule change, SR–BOX–2019–37, which was
published for comment in the Federal Register on
January 3, 2020. See Securities Exchange Act
Release No. 87868 (December 30, 2019), 85 FR 345
(January 3, 2020) (SR–BOX–2019–37) (Notice of
Filing of Proposed Rule Change).
BOX withdrew proposed rule change SR–BOX–
2019–37 on May 12, 2020. See Securities Exchange
Act Release No. 89017 (June 4, 2020), 85 FR 35473
(June 10, 2020) (Notice of Withdrawal of a Proposed
Rule Change).
Comments on SR–BOX–2019–37 can be found at:
https://www.sec.gov/comments/sr-box-2019-37/
srbox201937.htm.
8 15 U.S.C. 78s(b)(2)(B).
2 17

PO 00000

Frm 00054

Fmt 4703

Sfmt 4703

or disapprove the proposed rule change,
as modified by Amendment No.1.
I. Summary of the Proposal, as
Modified by Amendment No. 1
As described in the Notice, as
modified by Amendment No. 1,9 the
Exchange proposes to establish BSTX as
a facility (as defined in Section 3(a)(2)
of the Act) of the Exchange that will
operate a market for the trading of
securities (the ‘‘BSTX Market’’) and
adopt the Second Amended and
Restated Limited Liability Company
Agreement of BSTX (the ‘‘BSTX LLC
Agreement’’) for BSTX as a facility of
the Exchange.10 The Exchange states
that it has filed trading rules as part of
a separate proposed rule change, and
subject to Commission approval of those
rules, BSTX would operate the BSTX
Market.11 The Exchange states that
without Commission approval of the
trading rules, it would not permit BSTX
to commence operations of the BSTX
Market, and that the Exchange’s
regulatory oversight responsibilities
with respect to BSTX would not be
triggered unless SR–BOX–2020–16 is
approved by the Commission.12
The Exchange states that ownership
interests in BSTX are represented by
two classes of units (‘‘Units’’): Class A
Units, which represent equal units of
limited liability interest in BSTX,
including an interest in the ownership
and profits and losses of BSTX and the
right to receive distributions from BSTX
as set forth in the BSTX LLC Agreement
(‘‘Class A Units’’); and Class B Units,
which are identical to Class A Units,
except that they do not have the right
to vote on any matter related to BSTX
(‘‘Class B Units’’).13 According to the
Exchange: (1) 50% of the voting Class A
Units are owned by BOX Digital, which
is 98% owned by BOX Holdings Group
9 See Notice, supra note 3; Amendment No. 1,
supra note 6.
10 See Amendment No. 1, supra note 6, at 3–4;
Notice, supra note 3, at 33258. The proposed
Boston Security Token Exchange LLC, Second
Amended and Restated Limited Liability Company
Agreement, dated as of December 20, 2019 (‘‘BSTX
LLC Agreement’’) is attached as Exhibit 5A to the
Form 19b-4 for SR–BOX–2020–16 (available on the
Commission’s website at https://www.sec.gov/rules/
sro/box/2020/34-88949-ex5a.pdf).
11 See Amendment No. 1, supra note 6, at 4
(citing Securities Exchange Act Release No. 88946
(May 26, 2020), 85 FR 33454 (June 1, 2020) (SR–
BOX–2020–14), as amended by Amendment No. 1
(filed on July 31, 2020)).
12 See id. at 4.
13 See Notice, supra note 3, 85 FR at 33259,
nn.10–12 and accompanying text. According to the
Exchange, Class B Units will automatically convert
to an equal number of Class A Units upon the sale
or transfer of a majority of the Class A Units or
majority of the assets of BSTX, directly or
indirectly, to any party or group of related parties.
See id. at 33259–60, n.13.

E:\FR\FM\18AUN1.SGM

18AUN1