[Federal Register Volume 85, Number 33 (Wednesday, February 19, 2020)]
[Notices]
[Pages 9504-9505]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03181]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88179; File No. SR-CboeBYX-2019-012]


Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change To 
Introduce the Small Retail Broker Distribution Program

February 12, 2020.
    On August 1, 2019, Cboe BYX Exchange, Inc. (the ``Exchange'' or 
``BYX'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend the BYX fee schedule to introduce a Small 
Retail Broker Distribution Program (the ``Program''). The proposed rule 
change was immediately effective upon filing with the Commission 
pursuant to Section 19(b)(3)(A) of the Act.\3\ The proposed rule change 
was published for comment in the Federal Register on August 20, 
2019.\4\ The Commission received no comment letters regarding the 
proposed rule change. On September 30, 2019, under Sections 19(b)(2) 
and (b)(3)(C) of the Act,\5\ the Commission temporarily suspended the 
proposed rule change and instituted proceedings to determine whether to 
approve or disapprove the proposed rule change (``OIP'').\6\ The 
Commission has received no comment letters in response to the OIP.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(2) and (b)(3)(A).
    \4\ See Securities Exchange Act Release No. 86670 (August 14, 
2019), 84 FR 43207 (``Notice'').
    \5\ 15 U.S.C. 78s(b)(3)(C).
    \6\ See Securities Exchange Act Release No. 87166 (September 30, 
2019), 84 FR 53197 (October 4, 2019).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \7\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and

[[Page 9505]]

comment in the Federal Register on August 20, 2019. The 180th day after 
publication of the Notice is February 16, 2020, and April 16, 2020 is 
an additional 60 days from that date.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\8\ designates April 16, 2020 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CboeBYX-2019-012).
---------------------------------------------------------------------------

    \8\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-03181 Filed 2-18-20; 8:45 am]
 BILLING CODE 8011-01-P