Notice2021-12752
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 2, To Amend Its Rules To Prohibit Member Organizations From Seeking Reimbursement, in Certain Circumstances, From Issuers for Forwarding Proxy and Other Materials to Beneficial Owners
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
June 17, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 115 (Thursday, June 17, 2021)</title>
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[Federal Register Volume 86, Number 115 (Thursday, June 17, 2021)]
[Notices]
[Pages 32302-32303]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-12752]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-92155; File No. SR-NYSE-2020-98)]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of a Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change, as Modified by Amendment No. 2, To Amend Its Rules To
Prohibit Member Organizations From Seeking Reimbursement, in Certain
Circumstances, From Issuers for Forwarding Proxy and Other Materials to
Beneficial Owners
June 11, 2021.
On November 30, 2020, New York Stock Exchange LLC (``Exchange'')
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 its rules to prohibit member organizations from seeking
reimbursement, in certain circumstances, from issuers for forwarding
proxy and other materials to beneficial owners. The proposed rule
change was published for comment in the Federal Register on December
18, 2020.\3\ On January 29, 2021, pursuant to Section 19(b)(2) of the
Act,\4\ the Commission designated a longer period within which to
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether to disapprove the
proposed rule change.\5\ On March 17, 2021, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Act \6\ to determine
whether to approve or disapprove the proposed rule change.\7\ On April
6, 2021, the Exchange filed Amendment No. 1 to the proposed rule
change; the Exchange withdrew that amendment on April 16, 2021. On
April 16, 2021, the Exchange filed Amendment No. 2 to the proposed rule
change, which superseded the proposed rule change as originally filed.
The proposed rule change, as modified by Amendment No. 2, was published
for comment in the Federal Register on April 29, 2021.\8\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 90653 (December 14,
2020), 85 FR 82539 (December 18, 2020) (``Original Notice'').
Comments received on the proposal are available on the Commission's
website at: <a href="https://www.sec.gov/comments/sr-nyse-2020-98/srnyse202098.htm">https://www.sec.gov/comments/sr-nyse-2020-98/srnyse202098.htm</a>.
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 91011 (January 29,
2021), 86 FR 8246 (February 4, 2021).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 91343 (March 17,
2021), 86 FR 15536 (March 23, 2021).
\8\ See Securities Exchange Act Release No. 91663 (April 23,
2021), 86 FR 22725 (April 29, 2021).
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Section 19(b)(2) of the Act \9\ provides that, after initiating
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 comment in the Federal Register on December
18, 2020.\10\ The 180th day after publication of the Original Notice is
June 16, 2021. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
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\9\ 15 U.S.C. 78s(b)(2).
\10\ See supra note 3.
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The Commission finds that it is 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, as modified by Amendment No. 2, and the comments
that have been submitted in connection therewith. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates
August 15, 2021, as the date by which the
[[Page 32303]]
Commission shall either approve or disapprove the proposed rule change
(File Number SR-NYSE-2020-98), as modified by Amendment No. 2.
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\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(57).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-12752 Filed 6-16-21; 8:45 am]
BILLING CODE 8011-01-P
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