06 Day Notice

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Federal Register / Vol. 86, No. 17 / Thursday, January 28, 2021 / Notices

III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has designated this rule
filing as non-controversial under
Section 19(b)(3)(A) 19 of the Act and
Rule 19b–4(f)(6) 20 thereunder. Because
the proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
for 30 days from the date on which it
was filed, or such shorter time as the
Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act and Rule 19b–
4(f)(6) thereunder.21
A proposed rule change filed under
Rule 19b–4(f)(6) 22 normally does not
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii),23 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
upon filing. Waiver of the operative
delay will immediately permit series to
open for trading on the Exchange when
those series are already open for trading
on other options exchanges pursuant
their respective rules, and provide
Users’ orders that are otherwise resting
in the Queuing Book and awaiting
execution with the ability to get into the
market for potential execution, thereby
putting such Users on equal footing
with other market participants as soon
as possible. In addition, the proposal
automates an aspect of the opening
process that the Exchange currently has
the authority to perform manually.
Therefore, the Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest. The
Commission hereby designates the
proposed rule change to be operative
upon filing.24
19 15

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
21 In addition, Rule 19b–4(f)(6)(iii) requires the
Exchange to give the Commission written notice of
its intent to file the proposed rule change, along
with a brief description and text of the proposed
rule change, at least five business days prior to the
filing of the proposed rule change, or such shorter
time as designated by the Commission. The
Exhange has satisfied this requirement.
22 Id.
23 17 CFR 240.19b–4(f)(6)(iii).
24 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
20 17

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At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CboeEDGX–2021–005 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CboeEDGX–2021–005. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549–1090 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.

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Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeEDGX–2021–005 and
should be submitted on or before
February 18, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–01833 Filed 1–27–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–563, OMB Control No.
3235–0626]

Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 17g–3

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 existing collection of information
provided for in Rule 17g–3 under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).1 The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 17g–3 contains certain reporting
requirements for NRSROs including
financial statements and information
concerning its financial condition that
the Commission, by rule, may prescribe
as necessary or appropriate in the public
interest or for the protection of
investors. Currently, there are 9 credit
rating agencies registered as NRSROs
with the Commission. The Commission
estimates that the total burden for
respondents to comply with Rule 17g–
3 is 3,285 hours.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
25 17
1 See

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CFR 200.30–3(a)(12).
17 CFR 240.17g–1 and 17 CFR 249b.300.

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Federal Register / Vol. 86, No. 17 / Thursday, January 28, 2021 / Notices
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; 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.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid Office of Management and
Budget (OMB) control number.
Please direct your written comments
to: Dave Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F St. NE, Washington, DC
20549 or send an email to: PRA_
[email protected].
Dated: January 22, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90973; File No. SR–BOX–
2021–02]

Self-Regulatory Organizations; BOX
Exchange LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Adopt Temporary IM–
2020–1 (Temporary Extension for
Representatives To Function as
Principals)
January 22, 2021.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on January 12, 2021, the BOX Exchange
LLC (‘‘BOX’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I and II below, which Items
have been prepared by the Exchange.
The Commission is publishing this
2 17

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to adopt
temporary IM–2020–1 (Temporary
Extension for Representatives to
Function as Principals). The text of the
proposed rule change is available from
the principal office of the Exchange, at
the Commission’s Public Reference
Room and also on the Exchange’s
internet website at http://
boxoptions.com.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of those
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change

[FR Doc. 2021–01816 Filed 1–27–21; 8:45 am]

1 15

notice to solicit comments on the
proposed rule change from interested
persons.

1. Purpose
The purpose of the proposed rule
change is to adopt temporary IM–2020–
1 (Temporary Extension for
Representatives to Function as
Principals). The proposed rule change
would extend the 120-day period that
certain individuals on the Exchange can
function as a Principal without having
successfully passed an applicable
qualification examination through April
30, 2021,3 and would apply only to
those individuals who were designated
to function as a principal prior to
January 1, 2021. This proposed rule
change is based on a filing recently
submitted by the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’) 4
3 If BOX wishes to provide additional temporary
relief from the rule requirements identified in this
proposed rule change beyond April 30, 2021, BOX
will submit a separate rule filing to further extend
the temporary extension of time.
4 See Exchange Act Release No. 90617 (December
9, 2020), 85 FR 81258 (December 15, 2020) (SR–
FINRA–2020–043) (the ‘‘FINRA Filing’’). The
Exchange notes that the FINRA Filing also provides
temporary relief to individuals registered with
FINRA as Operations Professionals under FINRA
Rule 1220. The Exchange does not have a
registration category for Operations Professionals

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7437

and is intended to harmonize the
Exchange’s registration rules with those
of FINRA so as to promote uniform
standards across the securities industry.
The COVID–19 pandemic is an
unpredictable, exogenous event that has
resulted in unavoidable disruptions to
the securities industry and impacted
Participant firms, regulators, investors
and other stakeholders. In response to
COVID–19, earlier this year FINRA
began providing temporary relief by way
of frequently asked questions
(‘‘FAQs’’) 5 to address disruptions to the
administration of FINRA qualification
examinations caused by the pandemic
that have significantly limited the
ability of individuals to sit for
examinations due to Prometric test
center capacity issues.6
FINRA published the first FAQ on
March 20, 2020, providing that
individuals who were designated to
function as principals under FINRA
Rule 1210.04 7 prior to February 2, 2020,
would be given until May 31, 2020, to
pass the appropriate principal
qualification examination.8 On May 19,
and therefore, the Exchange is not proposing to
adopt that aspect of the FINRA Filing.
5 See https://www.finra.org/rules-guidance/keytopics/covid-19/faq#qe.
6 At the outset of the COVID–19 pandemic, all
FINRA qualification examinations were
administered at test centers operated by Prometric.
Based on the health and welfare concerns resulting
from COVID–19, in March Prometric closed all of
its test centers in the United States and Canada and
began to slowly reopen some of them at limited
capacity in May. Currently, Prometric has resumed
testing in many of its United States and Canada test
centers, at either full or limited occupancy, based
on local and government mandates.
7 BOX Rule 2020(d) is similar to FINRA Rule
1210.04. The Exchange notes there are several
differences between its rule text and FINRA’s rule.
FINRA’s rule provides that registered persons under
the rule must have at least 18 months of experience
functioning as a representative within a five-year
period immediately preceding their designation as
principal, and the person must have fulfilled all
applicable prerequisite registration, fee and
examination requirements prior to their designation
as principal. The Exchange’s rule does not have
similar qualifying prerequisites. Unlike the
Exchange’s rule text, FINRA’s rule also provides
that the requirements of the rule apply to any
principal category, and persons registered as an
‘‘Order Processing Assistant Representative’’, or a
‘‘Foreign Associate’’ are not eligible to be
designated as a principal under the rule. Lastly,
FINRA’s rule also accounts for situations in which
a person registered as a principal can function in
another principal category for a period of 120
calendar days prior to passing an appropriate
qualification examination. The Exchange believes
these differences are minor in substance and do not
materially impact this proposal. Specifically, the
Exchange simply seeks to adopt similar relief in
regards to its examination requirements for
representatives functioning as principals, due to the
COVID–19 pandemic.
8 FINRA Rule 1210.04 (Requirements for
Registered Persons Functioning as Principals for a
Limited Period) allows a member firm to designate
certain individuals to function in a principal

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Continued

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