Notice2021-27749
Joint Industry Plan; Notice of Withdrawal of Amendment to the National Market System Plan Governing the Consolidated Audit Trail
Primary source
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Published
December 22, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 243 (Wednesday, December 22, 2021)</title>
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[Federal Register Volume 86, Number 243 (Wednesday, December 22, 2021)]
[Notices]
[Page 72656]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-27749]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-93817; File No. 4-698]
Joint Industry Plan; Notice of Withdrawal of Amendment to the
National Market System Plan Governing the Consolidated Audit Trail
December 17, 2021.
I. Introduction
On March 31, 2021, the Operating Committee for Consolidated Audit
Trail, LLC, on behalf of the following parties to the National Market
System Plan Governing the Consolidated Audit Trail (the ``CAT NMS
Plan'' or ``Plan''): \1\ BOX Exchange LLC, Cboe BYX Exchange, Inc.,
Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange,
Inc., Cboe C2 Exchange, Inc., Cboe Exchange, Inc., Financial Industry
Regulatory Authority, Inc., Investors Exchange LLC, Long-Term Stock
Exchange, Inc., Miami International Securities Exchange LLC, MEMX, LLC,
MIAX Emerald, LLC, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq GEMX, LLC,
Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX LLC, The NASDAQ Stock
Market LLC, New York Stock Exchange LLC, NYSE American LLC, NYSE Arca,
Inc., NYSE Chicago, Inc., and NYSE National, Inc. (the
``Participants'') filed with the Securities and Exchange Commission
(``Commission'') pursuant to Section 11A(a)(3) of the Securities
Exchange Act of 1934 (``Exchange Act''),\2\ and Rule 608 thereunder,\3\
a proposed amendment (``Proposed Amendment'') to the CAT NMS Plan to
implement a revised funding model (``Proposed Funding Model'') for the
consolidated audit trail (``CAT'') and to establish a fee schedule for
Participant CAT fees in accordance with the Proposed Funding Model. The
Proposed Amendment was published for comment in the Federal Register on
April 21, 2021.\4\
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\1\ The CAT NMS Plan is a national market system plan approved
by the Commission pursuant to Section 11A of the Exchange Act and
the rules and regulations thereunder. See Securities Exchange Act
Release No. 79318 (November 15, 2016), 81 FR 84696 (November 23,
2016) (``CAT NMS Plan Approval Order''). The CAT NMS Plan functions
as the limited liability company agreement of the jointly owned
limited liability company formed under Delaware state law through
which the Participants conduct the activities of the CAT
(``Company''). On August 29, 2019, the Participants replaced the CAT
NMS Plan in its entirety with the limited liability company
agreement of a new limited liability company named Consolidated
Audit Trail, LLC, which became the Company. The latest version of
the CAT NMS Plan is available at <a href="https://catnmsplan.com/about-cat/cat-nms-plan">https://catnmsplan.com/about-cat/cat-nms-plan</a>.
\2\ 15 U.S.C. 78k-1(a)(3).
\3\ 17 CFR 242.608.
\4\ See Securities Exchange Act Release No. 91555 (April 14,
2021), 86 FR 21050 (``Notice'').
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On July 20, 2021, the Commission instituted proceedings pursuant to
Rule 608(b)(2)(i) of Regulation NMS,\5\ to determine whether to
disapprove the Proposed Amendment or to approve the Proposed Amendment
with any changes or subject to any conditions the Commission deems
necessary or appropriate after considering public comment.\6\ On
October 1, 2021, the Commission designated a longer period within which
to conclude proceedings regarding the Proposed Amendment.\7\
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\5\ 17 CFR 242.608(b)(2)(i).
\6\ See Securities Exchange Act Release No. 92451, 86 FR 40114
(July 26, 2021) (``OIP''). Comments received in response to the OIP
and the Notice can be found on the Commission's website at <a href="https://www.sec.gov/comments/4-698/4-698-a.htm">https://www.sec.gov/comments/4-698/4-698-a.htm</a>.
\7\ See Securities Exchange Act Release No. 93227 (October 1,
2021), 86 FR 55900 (October 7, 2021).
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The Commission is publishing this notice to reflect that on
December 8, 2021, prior to the end of the 240-day period provided for
in Exchange Act Rule 608(b)(2)(i),\8\ the Participants withdrew the
Proposed Amendment.\9\
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\8\ 17 CFR 242.608(b)(2)(i).
\9\ See Letter from Michael Simon, Chair, CAT NMS Plan Operating
Committee, to Vanessa Countryman, Secretary, Commission, dated
December 8, 2021.
By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-27749 Filed 12-21-21; 8:45 am]
BILLING CODE 8011-01-P
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