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Federal Register / Vol. 86, No. 38 / Monday, March 1, 2021 / Notices
writing when the Commission approves any such proposed rule changes.16
According to the Exchange, this exemption is necessary and appropriate because it would result in the MIAX
PEARL Equities Rules being consistent with the relevant cross-referenced FINRA and MIAX rules at all times, thus ensuring identical regulation of joint members of the Exchange, FINRA, and/
or MIAX with respect to such rules.17
Without such an exemption, joint members of the Exchange, FINRA, and/
or MIAX could be subject to two different standards.18 In addition, the Exchange believes that the exemption would ensure consistency between certain MIAX PEARL Equities Rules and FINRA rules that are covered by the Exchanges regulatory services agreement RSA with FINRA, which would facilitate FINRAs provision of services to the Exchange under the RSA
within the scope of those MIAX PEARL
Equities Rules.19
The Commission has issued exemptions similar to the Exchanges request.20 In granting one such exemption in 2010, the Commission repeated a prior, 2004 Commission statement that it would consider similar 16 See
id.
id. at 3.
18 See id.
19 See id.
20 See, e.g., Securities Exchange Act Release Nos.
83296 May 21, 2018, 83 FR 24362 May 25, 2018
order granting NYSE National, Inc.s exemptive request relating to rules of FINRA incorporated by reference; 83040 April 12, 2018, 83 FR 17198
April 18, 2018 order granting MIAX PEARLs exemptive request relating to rules of MIAX
incorporated by reference; 78101 June 17, 2016, 81 FR 41141, 41165 June 23, 2016 order granting application for registration as a national securities exchange of Investors Exchange, LLC and exemptive request relating to rules of FINRA
incorporated by reference; 76998 January 29, 2016, 81 FR 6066, 608384 February 4, 2016
order granting application for registration as a national securities exchange of ISE Mercury, LLC
now known as Nasdaq MRX, LLC and exemptive request relating to rules of the International Securities Exchange, LLC now known as Nasdaq ISE, LLC ISE incorporated by reference, including index options rules; 70050 July 26, 2013, 78 FR 46622, 46642 August 1, 2013 order granting application for registration as a national securities exchange of Topaz Exchange, LLC now known as Nasdaq GEMX, LLC and exemptive request relating to rules of ISE incorporated by reference, including index options rules; 61152
December 10, 2009, 74 FR 66699, 6670910
December 16, 2009 order granting application for registration as a national securities exchange of C2
Options Exchange, Incorporated and exemptive request relating to rules of CBOE incorporated by reference, including index options rules. See also, e.g., Securities Exchange Act Release No. 61534
February 18, 2010, 75 FR 8760 February 25, 2010
order granting BATS Exchange, Inc.s exemptive request relating to rules incorporated by reference by the BATS Exchange Options Market rules BATS Options Market Order.
17 See
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future exemption requests from other SROs, provided that:
An SRO wishing to incorporate rules of another SRO by reference has submitted a written request for an order exempting it from the requirement in Section 19b of the Exchange Act to file proposed rule changes relating to the rules incorporated by reference, has identified the applicable originating SROs, together with the rules it wants to incorporate by reference, and otherwise has complied with the procedural requirements set forth in the Commissions release governing procedures for requesting exemptive orders pursuant to Rule 012 under the Exchange Act; 21
The incorporating SRO has requested incorporation of categories of rules rather than individual rules within a category that are not trading rules e.g., the SRO has requested incorporation of rules such as margin, suitability, or arbitration; and The incorporating SRO has reasonable procedures in place to provide written notice to its members each time a change is proposed to the incorporated rules of another SRO.22
The Commission believes that the Exchange has satisfied each of these conditions. The Commission also believes that granting the Exchange an exemption from the rule filing requirements under Section 19b of the Exchange Act will promote efficient use of Commission and Exchange resources by avoiding duplicative rule filings based on simultaneous changes to identical rule text sought by more than one SRO.23 The Commission therefore finds it appropriate in the public interest and consistent with the protection of investors to exempt the Exchange from the rule filing requirements under Section 19b of the Exchange Act with respect to the abovedescribed rules it has incorporated by reference. This exemption is conditioned upon the Exchange promptly providing written notice to its members whenever FINRA or MIAX
changes a rule that the Exchange has incorporated by reference.
21 See
17 CFR 240.012; Securities Exchange Act Release No. 39624 February 5, 1998, 63 FR 8101
February 18, 1998 Commission Procedures for Filing Applications for Orders for Exemptive Relief Pursuant to Section 36 of the Exchange Act.
22 See BATS Options Market Order, supra note 20
citing Securities Exchange Act Release No. 49260
February 17, 2004, 69 FR 8500 February 24, 2004
order granting exemptive request relating to rules incorporated by reference by several SROs 2004
Order.
23 See id. at 8761. See also 2004 Order, supra note 22, at 8502.

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Accordingly, it is ordered, pursuant to Section 36 of the Exchange Act,24 that the Exchange is exempt from the rule filing requirements of Section 19b of the Exchange Act solely with respect to changes to the MIAX PEARL Equities Rules identified in its request that incorporate by reference certain FINRA
and MIAX rules that are the result of changes to such FINRA or MIAX rules, provided that the Exchange promptly provides written notice to its members whenever FINRA or MIAX proposes to change a rule that the Exchange has incorporated by reference.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202104091 Filed 22621; 8:45 am BILLING CODE 801101P

SMALL BUSINESS ADMINISTRATION
License No. 05/050295

Northcreek Mezzanine Fund I, L.P.;
Surrender of License of Small Business Investment Company Pursuant to the authority granted to the United States Small Business Administration under the Small Business Investment Act of 1958, as amended, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations 13 CFR 107.1900 to function as a small business investment company under the Small Business Investment Company License No. 05/
050295 issued to Northcreek Mezzanine Fund I, L.P., said license is hereby declared null and void.
United States Small Business Administration.
Thomas G. Morris, Acting Associate Administrator, Director, Office of SBIC Liquidation, Office of Investment and Innovation.
FR Doc. 202104138 Filed 22621; 8:45 am BILLING CODE P

SMALL BUSINESS ADMINISTRATION
Disaster Declaration 16876 and 16877;
TEXAS Disaster Number TX00591

Presidential Declaration of a Major Disaster for the State of Texas U.S. Small Business Administration.
ACTION: Notice.
AGENCY:

24 15
25 17

E:FRFM01MRN1.SGM

U.S.C. 78mm.
CFR 200.303a76.

01MRN1