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Federal Register / Vol. 86, No. 161 / Tuesday, August 24, 2021 / Notices
Commission finds that the proposed rule change is consistent with Section 6b5 of the Act,30 which requires that the rules of an exchange be designed to promote just and equitable principles of trade, to remove impediments and to perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Commission also believes that the proposal is consistent with Sections 6b1 and 6b6 of the Act 31 which require that the rules of an exchange enforce compliance with, and provide appropriate discipline for, violations of Commission and Exchange rules.
Finally, the Commission finds that the proposal is consistent with the public interest, the protection of investors, or otherwise in furtherance of the purposes of the Act, as required by Rule 19d 1c2 under the Act,32 which governs minor rule violation plans.
As stated above, the Exchange proposes to amend Rule 13.15g by: 1
Eliminating certain rule violations that the Exchange no longer believes to be minor in nature; 2 updating the fine schedule applicable to minor rule violations related to a Market-Makers failure to meet Exchange quoting obligations; and 3 making other nonsubstantive changes.
The Commission believes that Rule 13.15 is an effective way to discipline a member for a minor violation of a rule.
The Commission finds that the Exchanges proposal to eliminate rules that the Exchange no longer believes to be minor in nature from the MRVP and amending the fee schedule related to a Market-Makers failure to meet the Exchanges quoting obligations is consistent with the Act because it may help the Exchanges ability to better carry out its oversight and enforcement responsibilities. Lastly, the Commission also believes that the Exchanges proposal to make non-substantive changes are consistent with the Act because they add clarity to the Exchanges rules.
In approving the propose rule change, the Commission in no way minimizes the importance of compliance with the Exchanges rules and all other rules subject to fines under Rule 13.15. The Commission believes that a violation of any self-regulatory organizations rules, as well as Commission rules, is a serious matter. However, Rule 13.15 provides a reasonable means of addressing rule
violations that may not rise to the level of requiring formal disciplinary proceedings, while providing greater flexibility in handling certain violations.
The Commission expects that the Exchange will continue to conduct surveillance with due diligence and make a determination based on its findings, on a case-by-case basis, whether a fine of more or less than the recommended amount is appropriate for a violation under Rule 13.15 or whether a violation requires formal disciplinary action.
For the same reasons discussed above, the Commission finds good cause, pursuant to Section 19b2 of the Act,33 for approving the proposed rule change prior to the thirtieth day after the date of publication of the notice of the filing thereof in the Federal Register. The proposal will assist the Exchange in preventing fraudulent and manipulative practices by allowing the Exchange to adequately enforce compliance with, and provide appropriate discipline for, violations of Exchange rules. Accordingly, the Commission believes that a full noticeand-comment period is not necessary before approving the proposal.
V. Conclusion It is therefore ordered, pursuant to Section 19b2 of the Act 34 and Rule 19d1c2 thereunder,35 that the proposed rule change SRCBOE2021
045 be, and hereby is, approved on an accelerated basis.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.36
Jill M. Peterson, Assistant Secretary.
FR Doc. 202118123 Filed 82321; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492696; File No. SR
NYSEArca202147

Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change for New Rules 6.1PO, 6.37APO, 6.40PO, 6.41PO, 6.62PO, 6.64PO, 6.76PO, and 6.76APO and Amendments to Rules 1.1, 6.1O, 6.1AO, 6.37O, 6.65AO and 6.96O
August 18, 2021.

On June 21, 2021, NYSE Arca, Inc.
NYSE Arca or Exchange filed with the Securities and Exchange Commission Commission, pursuant to Section 19b1 of the Securities Exchange Act of 1934 Act 1 and Rule 19b4 thereunder,2 a proposed rule change for new NYSE Arca Rules 6.1P
O, 6.37APO, 6.40PO, 6.41PO, 6.62P
O, 6.64PO, 6.76PO, and 6.76APO
and amendments to NYSE Arca Rules 1.1, 6.1O, 6.1AO, 6.37O, 6.65AO
and 6.96O. The proposed rule change was published for comment in the Federal Register on July 9, 2021.3 The Commission has received no comment letters on the proposed rule change.
Section 19b2 of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is August 23, 2021. The Commission is extending this 45-day time period.
The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change.
Accordingly, the Commission, pursuant to Section 19b2 of the Act,5
designates October 7, 2021 as the date by which the Commission shall either approve or disapprove, or institute 1 15

impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.
30 15 U.S.C. 78fb5.
31 15 U.S.C. 78fb1 and 78fb6.
32 17 CFR 240.19d1c2.

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U.S.C. 78sb2.
U.S.C. 78sb2.
35 17 CFR 240.19d1c2.
36 17 CFR 200.303a12.
34 15

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U.S.C. 78sb1.
CFR 240.19b4.
3 See Securities Exchange Act Release No. 92304
June 30, 2021, 86 FR 36440 July 9, 2021.
4 15 U.S.C. 78sb2.
5 Id.
2 17

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