Notice2022-16036
Consolidated Tape Association; Notice of Designation of a Longer Period for Commission Action on the Twenty-Fifth Charges Amendment to the Second Restatement of the CTA Plan and Sixteenth Charges Amendment to the Restated CQ Plan
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 27, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 143 (Wednesday, July 27, 2022)</title>
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[Federal Register Volume 87, Number 143 (Wednesday, July 27, 2022)]
[Notices]
[Page 45142]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-16036]
[[Page 45142]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95346; File No. SR-CTA/CQ-2021-03]
Consolidated Tape Association; Notice of Designation of a Longer
Period for Commission Action on the Twenty-Fifth Charges Amendment to
the Second Restatement of the CTA Plan and Sixteenth Charges Amendment
to the Restated CQ Plan
July 21, 2022.
On November 5, 2021,\1\ certain participants in the Second
Restatement of the Consolidated Tape Association (``CTA'') Plan and the
Restated Consolidated Quotation (``CQ'') Plan (collectively ``CTA/CQ
Plans'' or ``Plans'') \2\ filed with the Securities and Exchange
Commission (``SEC'' or ``Commission''), pursuant to Section 11A of the
Securities Exchange Act of 1934 (``Act'') \3\ and Rule 608 of
Regulation National Market System (``NMS'') thereunder,\4\ a proposal
(``Proposed Amendments'') to amend the Plans.\5\ The Proposed
Amendments were published for comment in the Federal Register on
November 26, 2021.\6\
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\1\ See Letter from Robert Books, Chair, CTA/CQ Plans Operating
Committee, to Vanessa Countryman, Secretary, Commission (Nov. 5,
2021).
\2\ The CTA Plan, pursuant to which markets collect and
disseminate last-sale price information for non-Nasdaq-listed
securities, is a ``transaction reporting plan'' under Rule 601 of
Regulation NMS, 17 CFR 242.601, and a ``national market system
plan'' under Rule 608 of Regulation NMS, 17 CFR 242.608. The CQ
Plan, pursuant to which markets collect and disseminate bid/ask
quotation information for non-Nasdaq-listed securities, is a
``national market system plan'' under Rule 608 of Regulation NMS, 17
CFR 242.608. See Securities Exchange Act Release Nos. 10787 (May 10,
1974), 39 FR 17799 (May 20, 1974) (declaring the CTA Plan
effective); 15009 (July 28, 1978), 43 FR 34851 (Aug. 7, 1978)
(temporarily authorizing the CQ Plan); and 16518 (Jan. 22, 1980), 45
FR 6521 (Jan. 28, 1980) (permanently authorizing the CQ Plan).
\3\ 15 U.S.C. 78k-1.
\4\ 17 CFR 242.608.
\5\ The Proposed Amendments were approved and executed by more
than the required two-thirds of the self-regulatory organizations
(``SROs'') that are participants of the Plans. The participants that
approved and executed the amendments (the ``Participants'') are:
Cboe BYX Exchange, Inc, Cboe BZX Exchange, Inc., Cboe EDGA Exchange,
Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., Nasdaq ISE,
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 other SROs that are participants
in the Plans are: Financial Industry Regulatory Authority, Inc.,
Investors Exchange LLC, Long-Term Stock Exchange, Inc., MEMX LLC,
MIAX PEARL, LLC, and Nasdaq BX, Inc.
\6\ See Securities Exchange Act Release No. 93625 (Nov. 19,
2021), 86 FR 67517 (Nov. 26, 2021) (``Notice''). Comments received
in response to the Proposed Amendments are available at <a href="https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm">https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm</a>.
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On February 24, 2022, the Commission instituted proceedings
pursuant to Rule 608(b)(2)(i) of Regulation NMS,\7\ to determine
whether to approve or disapprove the Proposed Amendments or to approve
the Proposed Amendments with any changes or subject to any conditions
the Commission deems necessary or appropriate after considering public
comment.\8\ On May 19, 2022, pursuant to Rule 608(b)(2)(i) of
Regulation NMS,\9\ the Commission extended the period within which to
conclude proceedings regarding the Proposed Amendments to 240 days from
the date of publication of the Notice.\10\
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\7\ 17 CFR 242.608(b)(2)(i).
\8\ See Securities Exchange Act Release No. 94309 (Feb. 24,
2022), 87 FR 11763 (Mar. 2, 2022).
\9\ See 17 CFR 242.608(b)(2)(i).
\10\ See Securities Exchange Act Release No. 94952 (May 19,
2022), 87 FR 31921 (May 25, 2022).
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Rule 608(b)(2)(ii) of Regulation NMS provides that the time for
conclusion of proceedings to determine whether a national market system
plan or proposed amendment should be disapproved may be extended for an
additional period up to 60 days (up to 300 days from the date of notice
publication) if the Commission determines that a longer period is
appropriate and publishes the reasons for such determination or the
plan participants consent to the longer period.\11\ The 240th day after
publication of the Notice for the Proposed Amendments is July 24, 2022.
The Commission is extending this 240-day period.
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\11\ See 17 CFR 242.608(b)(2)(ii).
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The Commission finds that it is appropriate to designate a longer
period within which to conclude proceedings regarding the Proposed
Amendments so that it has sufficient time to consider the Proposed
Amendments and comments received. Accordingly, pursuant to Rule
608(b)(2)(ii) of Regulation NMS,\12\ the Commission designates
September 22, 2022, as the date by which the Commission shall conclude
the proceedings to determine whether to approve or disapprove the
Proposed Amendments or to approve the Proposed Amendments with any
changes or subject to any conditions the Commission deems necessary or
appropriate (File No. SR-CTA/CQ-2021-03).
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\12\ Id.
By the Commission.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-16036 Filed 7-26-22; 8:45 am]
BILLING CODE 8011-01-P
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