Notice2021-17668
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify Certain Pricing Limitations for Companies Listing in Connection With a Direct Listing Primary Offering
Primary source
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Published
August 18, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 157 (Wednesday, August 18, 2021)</title>
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[Federal Register Volume 86, Number 157 (Wednesday, August 18, 2021)]
[Notices]
[Page 46295]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-17668]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-92649; File No. SR-NASDAQ-2021-045]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change To Modify Certain Pricing Limitations for
Companies Listing in Connection With a Direct Listing Primary Offering
August 12, 2021.
On June 11, 2021, The Nasdaq Stock Market LLC (``Nasdaq'' or
``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 allow companies to modify certain pricing
limitations for companies listing in connection with a direct listing
primary offering in which the company will sell shares itself in the
opening auction on the first day of trading on Nasdaq. The proposed
rule change was published for comment in the Federal Register on June
30, 2021.\3\
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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. 92256 (June 24,
2021), 86 FR 34815 (June 30, 2021). Comment received on the proposed
rule change available at: <a href="https://www.sec.gov/comments/sr-nasdaq-2021-045/srnasdaq2021045.htm">https://www.sec.gov/comments/sr-nasdaq-2021-045/srnasdaq2021045.htm</a>.
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is August 14, 2021. The Commission is extending this 45-day time
period.
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\4\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider the proposed rule change and the comments
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of
the Act,\5\ designates September 28, 2021 as the date by which the
Commission shall either approve or disapprove, or institute proceedings
to determine whether to disapprove, the proposed rule change (File No.
SR-NASDAQ-2021-045).
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\5\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-17668 Filed 8-17-21; 8:45 am]
BILLING CODE 8011-01-P
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