Technological glitch causes SEC to reopen certain comment periods

By Rodney F. Tonkovic, J.D.

Due to a technological error, comments submitted to the SEC in the summer 2022 were not received. As a result, the Commission is asking all commenters who submitted a public comment between June 2021 and August 2022 to check the comment file on SEC.gov to see whether its comment was received and posted. To ensure that all interested parties have the opportunity to comment, the Commission is reopening the comment periods for the affected releases from October 7, 2022 until 14 days after publication in the Federal Register (Resubmission of Comments and Reopening of Comment Periods for Several Rulemaking Releases Due to a Technological Error in Receiving Certain Comments, Release No. 33-11117, October 7, 2022).

According to the Commission, the majority of the affected comments were submitted in August 2022, but the error is known to have occurred as early as June 2021. Those who submitted comments during this time are advised to check the comment files to determine whether their comment was posted. If a comment was not posted, it should be resubmitted, and that comment will be treated as if it were received on its original submission date (posted comments need not be resubmitted). The SEC is reopening comment periods for the following rule releases that have been identified as having potentially been affected by the error:

• Reporting of Securities Loans (Release No. 34- 93613; File No. S7-18-21), 86 FR 69802 (Dec. 8, 2021). Reopened comment period closed on April 1, 2022.
• Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions (Release No. 34-93784; File No. S7-32-10), 87 FR 6652 (Feb. 4, 2022). Comment period closed on March 21, 2022.
• Money Market Fund Reforms (Release No. IC-34441; File No. S7-22-21), 87 FR 7248 (Feb. 8, 2022). Comment period closed on April 11, 2022.
• Share Repurchase Disclosure Modernization (Release Nos. 34-93783, IC-34440; File No. S7- 21-21), 87 FR 8443 (Feb. 15, 2022) Comment period closed on April 1, 2022.
• Short Position and Short Activity Reporting by Institutional Investment Managers (Release No. 34-94313; File No. S7-08-22), 87 FR 14950 (Mar. 16, 2022); see also Notice of the Text of the Proposed Amendments to the National Market System Plan Governing the Consolidated Audit Trail for Purposes of Short Sale-Related Data Collection (Release No. 34-94314; File No. S7-08-22), 87 FR 15022 (Mar. 16, 2022). Comment period closed on April 26, 2022.
• Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (Release Nos. 33-11038, 34-94382, IC-34529; File No. S7- 09-22), 87 FR 16590 (Mar. 23, 2022). Comment period closed on May 9, 2022.
• Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews (Release No. IA-5955; File No. S7-03- 22), 87 FR 16886 (Mar. 24, 2022). Reopened comment period closed on June 13, 2022.
• The Enhancement and Standardization of Climate-Related Disclosures for Investors (Release Nos. 33-11042, 34-94478; File No. S7- 10-22), 87 FR 21334 (Apr. 11, 2022). Reopened comment period closed on June 17, 2022.
• Special Purpose Acquisition Companies, Shell Companies, and Projections (Release Nos. 33- 11048, 34-94546, IC-34549; File No. S7-13-22), 87 FR 29458 (May 13, 2022). Comment period closed on June 13, 2022.
• Investment Company Names (Release Nos. 33- 11067, 34-94981, IC-34593; File No. S7-16-22), 87 FR 36594 (June 17, 2022). Comment period closed on August 16, 2022.
• Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices (Release Nos. 33-11068, 34- 94985, IA-6034, IC-34594; File No. S7-17-22), 87 FR 36654 (June 17, 2022). Comment period closed on August 16, 2022.
• Request for Comment on Certain Information Providers Acting as Investment Advisers (Release Nos. IA-6050, IC-34618; File No. S7-18-22), 87 FR 37254 (June 22, 2022). Comment period closed on August 16, 2022.

Commenters may submit a comment by following the instructions provided in the reopening release.

SRO matters. The following comments with respect to SRO matters may also have been affected:

• SR-BOX-2022-08: BOX Exchange LLC; Proposed Rule Change, as Modified by Amendment No. 1, to Amend Rule 12140 (Imposition of Fines for Minor Rule Violations), to Expand the List of Violations Eligible for Disposition under the Exchange's Minor Rule Violation Plan and to Update the Fine Schedule Applicable to Minor Violations of Certain Rules.
• SR-CboeBZX-2021-083: Cboe BZX Exchange, Inc.; Proposed Rule Change, as Modified by Amendment No. 2, to Amend Rule 25.3, Which Governs the Exchange’s Minor Rule Violation Plan, in Connection with Certain Minor Rule Violations and Applicable Fines.
• SR-FINRA-2022-017: Financial Industry Regulatory Authority, Inc.; Proposed Rule Change to Amend FINRA Rule 6750 Regarding the Publication of Aggregated Transaction Information on U.S. Treasury Securities.
• SR-FINRA-2022-024: Financial Industry Regulatory Authority, Inc.; Proposed Rule Change To Amend the Codes of Arbitration Procedure to Modify the Current Process Relating to the Expungement of Customer Dispute Information.
• SR-MEMX-2021-10: MEMX LLC; Proposed Rule Change to Establish a Retail Midpoint Liquidity Program.
• SR-NYSEARCA-2022-52: NYSE Arca, Inc.; Proposed Rule Change to Amend Rule 6.64P-O.
• SR-NYSENAT-2021-19: NYSE National, Inc.; Proposed Rule Change to Extend the Pilot Related to the Market-Wide Circuit Breaker in Rule 7.12.
• SR-OCC-2022-802: The Options Clearing Corporation; Advance Notice Related to a Master Repurchase Agreement as Part of The Options Clearing Corporation's Overall Liquidity Plan.