Voglio sapere a riguardo di…

164

Federal Register / Vol. 86, No. 1 / Monday, January 4, 2021 / Notices
published for comment in the Federal Register on June 3, 2020.3 On July 9, 2020, pursuant to Section 19b2 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 September 1, 2020, the Commission instituted proceedings under Section 19b2B of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 On November 17, 2020, the Commission designated a longer period within which to issue an order approving or disapproving the proposed rule change.8 The Commission received no comment letters on the proposed rule change. On December 23, 2020, the Exchange withdrew the proposed rule change SRCboeBZX
2020042.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202029019 Filed 123120; 8:45 am
SECURITIES AND EXCHANGE
COMMISSION
Release No. 3490809; File No. SRLTSE
202024

Self-Regulatory Organizations; LongTerm Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Rule Series 11.600
December 28, 2020.

Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on December 18, 2020, Long-Term Stock Exchange, Inc. LTSE or the Exchange filed with the Securities and Exchange Commission Commission the proposed rule change as described in Items I, II and III below, which Items 3 See Securities Exchange Act Release No. 88968
May 28, 2020, 85 FR 34270.
4 15 U.S.C. 78sb2.
5 See Securities Exchange Act Release No. 89267, 85 FR 42933 July 15, 2020.
6 15 U.S.C. 78sb2B.
7 See Securities Exchange Act Release No. 89722, 85 FR 55337 September 4, 2020.
8 See Securities Exchange Act Release No. 90444, 85 FR 74777 November 23, 2020. The Commission designated January 29, 2021, as the date by which the Commission shall either approve or disapprove the proposed rule change.
9 17 CFR 200.303a12.
1 15 U.S.C. 78sb1.
2 17 CFR 240.19b4.

17:28 Dec 31, 2020

Jkt 253001

I. Self-Regulatory Organizations Statement of the Terms of Substance of the Proposed Rule Change LTSE proposes a rule change to amend the Rule Series 11.600, the Exchanges compliance rule Compliance Rule regarding the National Market System Plan Governing the Consolidated Audit Trail the CAT
NMS Plan or Plan 3 to be consistent with a conditional exemption granted by the Commission from certain allocation reporting requirements set forth in Sections 6.4diiA1 and 2
of the CAT NMS Plan Allocation Exemption.4
The text of the proposed rule change is available at the Exchanges website at https longtermstockexchange.com/, at the principal office of the Exchange, and at the Commissions Public Reference Room.
II. Self-Regulatory Organizations Statement on the Purpose of, and Statutory Basis for, the Proposed Rule Change
BILLING CODE 801101P

VerDate Sep<11>2014

have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.

In its filing with the Commission, the self-regulatory organization 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 these statements may be examined at the places specified in Item IV below.
The self-regulatory organization has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organizations Statement on the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this proposed rule change is to amend the Rule Series 11.600 to be consistent with the Allocation Exemption. The Commission granted the relief conditioned upon the Participants adoption of Compliance Rules that implement the alternative approach to reporting allocations to the Central Repository described in the Allocation Exemption referred to as the Allocation Alternative.
3 Unless otherwise specified, capitalized terms used in this rule filing are defined as set forth in the Compliance Rule.
4 See Securities Exchange Act Rel. No. 90223
October 19, 2020, 85 FR 67576 October 23, 2020
Allocation Exemptive Order.

PO 00000

Frm 00116

Fmt 4703

Sfmt 4703

1 Request for Exemptive Relief Pursuant to Section 6.4diiA of the CAT NMS Plan, each Participant must, through its Compliance Rule, require its Industry Members to record and report to the Central Repository, if the order is executed, in whole or in part: 1 An Allocation Report; 5 2 the SROAssigned Market Participant Identifier of the clearing broker or prime broker, if applicable; and the 3 CAT-Order-ID
of any contra-side orders. Accordingly, the Exchange and the other Participants implemented Compliance Rules that require their Industry Members that are executing brokers to submit to the Central Repository, among other things, Allocation Reports and the SROAssigned Market Participant Identifier of the clearing broker or prime broker, if applicable.
On August 27, 2020, the Participants submitted to the Commission a request for an exemption from certain allocation reporting requirements set forth in Sections 6.4diiA1 and 2 of the CAT NMS Plan Exemption Request.6 In the Exemption Request, the Participants requested that they be permitted to implement the Allocation Alternative, which, as noted above, is an alternative approach to reporting allocations to the Central Repository.
Under the Allocation Alternative, any Industry Member that performs an allocation to a client account would be required under the Compliance Rule to submit an Allocation Report to the Central Repository when shares/
contracts are allocated to a client account regardless of whether the Industry Member was involved in executing the underlying orders.
Under the Allocation Alternative, a client account would be any account that is not owned or controlled by the Industry Member.
In addition, under the Allocation Alternative, an Allocation would be defined as: 1 The placement of shares/
contracts into the same account for which an order was originally placed; or 2 the placement of shares/contracts into an account based on allocation 5 Section 1.1 of the CAT NMS Plan defines an Allocation Report as a report made to the Central Repository by an Industry Member that identifies the Firm Designated ID for any accounts, including subaccounts, to which executed shares are allocated and provides the security that has been allocated, the identifier of the firm reporting the allocation, the price per share of shares allocated, the side of shares allocated, the number of shares allocated to each account, and the time of the allocation; provided for the avoidance of doubt, any such Allocation Report shall not be required to be linked to particular orders or executions.
6 See Letter from the Participants to Vanessa Countryman, Secretary, Commission, dated August 27, 2020 the Exemption Request.

E:FRFM04JAN1.SGM

04JAN1