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Federal Register / Vol. 86, No. 171 / Wednesday, September 8, 2021 / Notices 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 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 SRNYSEArca202173 and should be submitted on or before September 29, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.32
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202119293 Filed 9721; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492837; File No. SRFINRA
2021021

Self-Regulatory Organizations;
Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Expiration Dates of FINRA Rules 0180
Application of Rules to SecurityBased Swaps and 4240 Margin Requirements for Credit Default Swaps and Amend FINRA Rule 4240
To Add Supplementary Material .02

jbell on DSKJLSW7X2PROD with NOTICES

September 1, 2021.

Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Exchange Act or Act 1 and Rule 19b4 thereunder,2 notice is hereby given that on August 20, 2021, the 32 17

CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.

Financial Industry Regulatory Authority, Inc. FINRA filed with the Securities and Exchange Commission SEC or Commission the proposed rule change as described in Items I and II below, which Items have been prepared by FINRA. FINRA has designated the proposed rule change as constituting a non-controversial rule change under paragraph f6 of Rule 19b4 under the Act,3 which renders the proposal effective upon receipt of this filing by the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
I. Self-Regulatory Organizations Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to i extend the expiration date of FINRA Rule 0180
Application of Rules to Security-Based Swaps to February 6, 2022 and ii extend to April 6, 2022 the implementation of FINRA Rule 4240
Margin Requirements for Credit Default Swaps and clarify that the rule does not apply if a member is registered with the SEC as a security-based swap SBS
dealer SBSD.
The text of the proposed rule change is available on FINRAs website at http www.finra.org, at the principal office of FINRA and at the Commissions Public Reference Room.
II. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA 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. FINRA 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 of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On July 8, 2011, FINRA filed for immediate effectiveness FINRA Rule 0180, which, with certain exceptions, temporarily limits the application of FINRA rules with respect to SBS, thereby avoiding undue market disruptions resulting from the change to the definition of security under the
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Act to expressly encompass SBS.4
Pending the SECs final implementation of its rulemakings under Title VII of the Dodd-Frank Act,5 FINRA extended the expiration date of FINRA Rule 0180 a number of times, most recently in January 2020, when FINRA extended the expiration date to September 1, 2021.6 In addition, on May 22, 2009, the Commission approved FINRA Rule 4240,7 which implements an interim pilot program the Interim Pilot Program with respect to margin requirements for certain transactions in credit default swaps CDS.8 On June 2, 2020, FINRA filed a proposed rule change for immediate effectiveness extending the implementation of FINRA
Rule 4240 to September 1, 2021.9
Therefore, both FINRA Rule 0180 and the Interim Pilot Program under FINRA
Rule 4240 are currently scheduled to expire on September 1, 2021.
On April 26, 2021, FINRA filed a proposed rule change to amend FINRA
Rules 0180, 4120, 4210, 4220, 4240 and 9610 to clarify the application of its rules to SBS following the SECs completion of its rulemaking under Title VII of the Dodd-Frank Act regarding SBSDs and major SBS
participants collectively, SBS
Entities.10 Among other things, the Proposal would adopt a new FINRA
Rule 0180, to replace expiring current FINRA Rule 0180, that would generally apply FINRA rules to members activities and positions with respect to SBS, while providing limited exceptions for SBS in circumstances where FINRA
believes such exceptions are appropriate. The Proposal would also adopt a new margin rule specifically applicable to SBS, which would replace the expiring Interim Pilot Program 4 See Securities Exchange Act Release No. 64884
July 14, 2011, 76 FR 42755 July 19, 2011 Notice of Filing and Immediate Effectiveness of File No.
SRFINRA2011033.
5 See Public Law 111203, 124 Stat. 1376 2010, Section 701.
6 See Securities Exchange Act Release No. 88023
January 23, 2020, 85 FR 5261 January 29, 2020
Notice of Filing and Immediate Effectiveness of File No. SRFINRA2020001.
7 See Securities Exchange Act Release No. 59955
May 22, 2009, 74 FR 25586 May 28, 2009 Order Approving File No. SRFINRA2009012.
8 In March 2012, the SEC approved amendments to FINRA Rule 4240 that, among other things, limit the rules application to CDS that are SBS. See Securities Exchange Act Release No. 66527 March 7, 2012, 77 FR 14850 March 13, 2012 Order Approving File No. SRFINRA2012015.
9 See Securities Exchange Act Release No. 89036
June 10, 2020, 85 FR 36458 June 16, 2020 Notice of Filing and Immediate Effectiveness of File No.
SRFINRA2020016.
10 See Securities Exchange Act Release No. 91789
May 7, 2021, 86 FR 26084 May 12, 2021 Notice of Filing of File No. SRFINRA2021008
Proposal.

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