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Federal Register / Vol. 86, No. 25 / Tuesday, February 9, 2021 / Notices
and Eligible Transfer Companies for a period of 48 months.7 Eligible New Listings and Eligible Transfer Companies that listed on the Exchange prior to January 11, 2021 are not entitled to receive such services for 48 months, but instead for the shorter period of 24
months under the prior version of the rule applicable when they listed on the Exchange. As the Exchange stated in SRNYSE202094, the proposed amendment would be applicable to Eligible New Listings and Eligible Transfer Companies that list on or after the date of SEC approval of the proposal. 8 The Exchange now proposes to add text to Section 907.00
to make it clear that only Eligible New Listings and Eligible Transfer Companies that list on or after January 11, 2021 are entitled to receive these services for a period of 48 months, while Eligible New Listings and Eligible Transfer Companies that listed before that date are entitled to receive such services for a period of 24 months. The Exchange believes this clarification is appropriate to avoid any confusion by making the rule text explicit.

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2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6b of the Securities Exchange Act of 1934
the Act generally.9 Section 6b5 10
of the Act requires, among other things, that exchange rules promote just and equitable principles of trade and that they are not designed to permit unfair discrimination between issuers, brokers or dealers. The Exchange believes that the proposal is designed to promote just and equitable principles of trade, as it provides clarification and transparency in the text of Section 907.00 as to how that rule is applied to Eligible New Listings and Eligible Transfers that listed prior to the most recent amendment to that rule, without changing the substance of that application in any way.
B. Self-Regulatory Organizations Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. As noted above, the proposal is designed to clarify rule text and provide transparency in a manner consistent with a previously approved rule 7 See
Securities Exchange Act Release No. 90893
January 11, 2021 SRNYSE202094.
8 See Securities Exchange Act Release No. 90466
November 20, 2020, 85 FR 76129, note 2 at 76129.
9 15 U.S.C. 78fb.
10 15 U.S.C. 78fb5.

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amendment and does not result in any substantive change in the application of the rule. The proposal is therefore non substantive in nature and the Exchange does not believe it imposes any burden on competition.
C. Self-Regulatory Organizations Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19b3Aiii of the Act 11 and Rule 19b4f6 thereunder.12 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 prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19b3A
of the Act 13 and Rule 19b4f6iii thereunder.14
A proposed rule change filed under Rule 19b4f6 15 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4f6iii,16 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 immediately upon filing. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest because it will allow the Exchange to immediately provide clarification and transparency in the text of Section 907.00 as to how that rule is applied to 11 15

U.S.C. 78sb3Aiii.
CFR 240.19b4f6.
13 15 U.S.C. 78sb3A.
14 17 CFR 240.19b4f6. In addition, Rule 19b 4f6iii requires the Exchange to give the Commission written notice of the Exchanges 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 date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has complied with this requirement.
15 17 CFR 240.19b4f6.
16 17 CFR 240.19b4f6iii.
12 17

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Eligible New Listings and Eligible Transfers that listed prior to the implementation of the most recent amendment to Section 907.00.17
Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.18
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 19b2B 19 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:
Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
NYSE202109 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRNYSE202109. 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 Commissions 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 17 See
supra note 7.
purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule changes impact on efficiency, competition, and capital formation. See 15 U.S.C.
78cf.
19 15 U.S.C. 78sb2B.
18 For
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