30 Day Notice

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Federal Register / Vol. 87, No. 56 / Wednesday, March 23, 2022 / Notices

proposed rule change to make the Pilot
Rules permanent. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change as operative upon
filing.28
At any time within 60 days of the
filing of such 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
under Section 19(b)(2)(B) 29 of the Act 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:

jspears on DSK121TN23PROD with NOTICES1

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–
MEMX–2022–04 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–MEMX–2022–04. 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
28 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).
29 15 U.S.C. 78s(b)(2)(B).

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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, 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.
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–MEMX–2022–04 and
should be submitted on or before April
13, 2022.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.30
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–06090 Filed 3–22–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–441, OMB Control No.
3235–0497]

Submission for OMB Review;
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 15c3–4

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 15c3–4 (17 CFR. 240.15c3–4) (the
‘‘Rule’’) under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.).
Rule 15c3–4 requires certain brokerdealers that are registered with the
Commission as OTC derivatives dealers,
or who compute their net capital
charges under Appendix E to Rule
15c3–1 (17 CFR 240.15c3–1) (‘‘ANC
firms’’), to establish, document, and
maintain a system of internal risk

management controls. In addition,
security-based swap dealers (‘‘SBSDs’’)
that are subject to Rule 18a–1 (17 CFR
240.18a–1) must comply with Rule
15c3–4 as if they were OTC derivatives
dealers. The Rule sets forth the basic
elements for an OTC derivatives dealer,
an ANC firm, or an SBSD to consider
and include when establishing,
documenting, and reviewing its internal
risk management control system, which
is designed to, among other things,
ensure the integrity of an OTC
derivatives dealer’s, an ANC firm’s or an
SBSD’s risk measurement, monitoring,
and management process, to clarify
accountability at the appropriate
organizational level, and to define the
permitted scope of the firm’s activities
and level of risk. The Rule also requires
that management of an OTC derivatives
dealer, an ANC firm, or an SBSD must
periodically review, in accordance with
written procedures, the firm’s business
activities for consistency with its risk
management guidelines.
The staff estimates that the average
amount of time a new firm subject to
Rule 15c3–4 will spend establishing and
documenting its risk management
control system is approximately 2,000
hours (666.666667 hours per year when
annualized over three years) and that,
on average, an existing firm subject to
Rule 15c3–4 will spend approximately
200 hours each year to maintain (e.g.,
reviewing and updating) its risk
management control system. Currently,
five firms are registered with the
Commission as OTC derivatives dealers,
five as ANC firms, and one as an SBSD.
The staff estimates that approximately
two new additional entities may register
as OTC derivatives dealers, one new
entity may register as an ANC firm, and
two new entities may register as SBSDs
subject to the requirements of Rule
15c3–4 within the next three years.
Thus, the estimated annual burden
would be 2,200 hours for the eleven
existing firms (five OTC derivatives
dealers, five ANC firms, and one SBSD)
currently required to comply with Rule
15c3–4 to maintain their risk
management control systems,1 3,333
hours for the five new firms (two new
OTC derivatives dealers, one new ANC
firm, and two new SBSDs) to establish
and document their risk management
control systems,2 and 1,000 hours for
the five new firms (two new OTC
derivatives dealers, one new ANC firm,
and two new SBSDs) to maintain their
risk management control systems.3
Accordingly, the staff estimates the total
hours × 11 firms) = 2200.
hours/3 years) × 5 firms) = 3,333.
3 (200 hours × 5 firms) = 1000.
1 (200

2 ((2,000
30 17

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Federal Register / Vol. 87, No. 56 / Wednesday, March 23, 2022 / Notices
annual burden associated with Rule
15c3–4 for the 16 respondents (nine
OTC derivatives dealers, six ANC firms,
and five SBSDs) will be approximately
6,533 hours per year.
The records required to be made
pursuant to the Rule and the results of
the periodic reviews conducted under
paragraph (d) of Rule 15c3–4 must be
preserved under Rule 17a–4 of the
Exchange Act (17 CFR 240.17a–4) for a
period of not less than three years, the
first two years in an easily accessible
place. The Commission will not
generally publish or make available to
any person notices or reports received
pursuant to the Rule. The statutory basis
for the Commission’s refusal to disclose
such information to the public is the
exemption contained in section (b)(4) of
the Freedom of Information Act (5
U.S.C. 552), which essentially provides
that the requirement of public
dissemination does not apply to
commercial or financial information
which is privileged or confidential.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o John Pezzullo, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: March 18, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.

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BILLING CODE 8011–01–P

20:07 Mar 22, 2022

[Release No. 34–94457; File No. SR–NYSE–
2021–44]

Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Amend Rules 7.31, 7.35, 7.35B,
7.35C, 98, and 104 Relating to the
Closing Auction
March 17, 2022.

On September 3, 2021, New York
Stock Exchange LLC (‘‘NYSE’’ or
‘‘Exchange’’) 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
amend Rules 7.31 (Orders and
Modifiers), 7.35 (General), 7.35B (DMMFacilitated Closing Auctions), 7.35C
(Exchange-Facilitated Auctions), 98
(Operation of a DMM Unit), and 104
(Dealings and Responsibilities of
DMMs) relating to the Closing Auction.
The proposed rule change was
published for comment in the Federal
Register on September 22, 2021.3 On
November 1, 2021, pursuant to Section
19(b)(2) of the Act,4 the Commission
extended the time period within which
to approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether to approve or disapprove the
proposed rule change to December 21,
2021.5 The Commission has received
two comment letters on the proposal.6
On December 17, 2021, the Commission
instituted proceedings under Section
19(b)(2)(B) of the Act 7 to determine
whether to approve or disapprove the
proposed rule change.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
1 15

[FR Doc. 2022–06151 Filed 3–22–22; 8:45 am]

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U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 93037
(Sept. 16, 2021), 86 FR 52719 (Sept. 22, 2021) (SR–
NYSE–2021–44) (‘‘Notice’’).
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 93488
(Nov. 1, 2021), 86 FR 61352 (Nov. 5, 2021).
6 See Anonymous Letter (Sept. 27, 2021); Letter
to J. Matthew DeLesDernier, Assistant Secretary,
Commission, from Richard Grant, General Counsel,
GTS Securities, LLC (Mar. 16, 2022).
7 15 U.S.C. 78s(b)(2)(B).
8 See Securities Exchange Act Release No. 93809
(Dec. 17, 2021), 86 FR 73060 (Dec. 23, 2021).
9 15 U.S.C. 78s(b)(2).

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16539

the date of publication of notice of filing
of the proposed rule change. The
Commission may, however, extend the
period for issuing an order approving or
disapproving the proposed rule change
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 change was published for
comment in the Federal Register on
September 22, 2021.10 The 180th day
after publication of the proposed rule
change is March 21, 2022.
The Commission finds that it is
appropriate to designate a longer period
within which to issue an order
approving or disapproving the proposed
rule change so that it has sufficient time
to consider the proposed rule change.
The Commission is extending the time
period for approving or disapproving
the proposed rule change for an
additional 60 days.
Accordingly, the Commission,
pursuant to Section 19(b)(2) of the
Act,11 designates May 20, 2022, as the
date by which the Commission shall
either approve or disapprove the
proposed rule change (File Number SR–
NYSE–2021–44).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–06105 Filed 3–22–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–94445; File No. SR–ISE–
2022–08]

Self-Regulatory Organizations; Nasdaq
ISE, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Harmonize Various
Processes Under Options 3, Section 20
Across the Affiliated Nasdaq Options
Exchanges
March 17, 2022.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 8,
2022, Nasdaq ISE, LLC (‘‘ISE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
10 See

Notice, supra note 3.
U.S.C. 78s(b)(2).
12 17 CFR 200.30–3(a)(57).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
11 15

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