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Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices
promoting easy comparisons among the various Nasdaq affiliated exchanges Rulebooks.
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. The Exchange believes that the proposed amendments do not impose an undue burden on competition because the amendments to relocate the equity and general rules are non-substantive. This rule change is intended to bring greater clarity to the Exchanges Rules and to promote easy comparisons among the various Nasdaq affiliated exchanges Rulebooks. Renumbering, re-lettering, deleting reserved rules and amending cross-references will bring greater transparency to the Exchanges Rules.
C. Self-Regulatory Organizations Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing 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 for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19b3A of the Act 13 and Rule 19b4f6 thereunder.14
A proposed rule change filed under Rule 19b4f6 15 normally does not become operative for 30 days after the date of the filing. However, pursuant to Rule 19b-4f6iii,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.
Waiver of the operative delay would allow the Exchange to immediately 13 15

U.S.C. 78sb3A.
CFR 240.19b4f6. In addition, Rule 19b 4f6iii requires a self-regulatory organization to give the Commission written notice of its 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 satisfied this requirement.
15 17 CFR 240.19b4f6.
16 17 CFR 240.19b4f6iii.
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relocate its rules and continue to file other rules that are affected by this relocation in a timely manner. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission waives the 30-day operative delay and designates the proposal operative upon filing.17
At any time within 60 days of the filing of the 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 to determine whether the proposed rule change should be approved or disapproved.

Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commissions 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 SRPhlx202104 and should be submitted on or before March 3, 2021.

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:

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18
J. Matthew DeLesDernier, Assistant Secretary.

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
Phlx202104 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 SRPhlx202104. 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 proposed rule change between the 17 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rules impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.

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FR Doc. 202102709 Filed 2921; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3491066; File No. SRFINRA
2020038

Self-Regulatory Organizations;
Financial Industry Regulatory Authority, Inc.; Notice of Filing of Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove the Proposed Rule Change, as Modified by Amendment No. 1, to FINRA Rules 5122 Private Placements of Securities Issued by Members and 5123 Private Placements of Securities That Would Require Members To File Retail Communications Concerning Private Placement Offerings That Are Subject to Those Rules Filing Requirements February 4, 2021.

I. Introduction On October 28, 2020, Financial Industry Regulatory Authority, Inc.
FINRA filed with the Securities and Exchange Commission Commission the proposed rule change SRFINRA
2020038 Proposed Rule Change pursuant to Section 19b1 of the Securities Exchange Act of 1934
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CFR 200.303a12.

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