Notice2022-05023
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 Adopt Listing Standards for Subscription Warrants Issued by a Company Organized Solely for the Purpose of Identifying an Acquisition Target
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
March 10, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 47 (Thursday, March 10, 2022)</title>
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[Federal Register Volume 87, Number 47 (Thursday, March 10, 2022)]
[Notices]
[Pages 13779-13780]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-05023]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94363; File No. SR-NYSE-2021-45]
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 Adopt Listing Standards
for Subscription Warrants Issued by a Company Organized Solely for the
Purpose of Identifying an Acquisition Target
March 4, 2022.
On August 24, 2021, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to adopt listing standards for
subscription warrants issued by a company organized solely for the
purpose of identifying an acquisition target. The proposed rule change
was published for comment in the Federal Register on September 10,
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. 92876 (September 3,
2021), 86 FR 50748. Comments received on the proposal are available
on the Commission's website at: <a href="https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145.htm">https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145.htm</a>.
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On September 30, 2021, pursuant to Section 19(b)(2) of the Exchange
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 December 8, 2021, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Exchange Act \6\ to
determine whether to approve or disapprove the proposed rule change.\7\
On March 1, 2022, the Exchange filed Amendment No. 2 to the proposed
rule change, which replaced and superseded the proposed rule change as
originally filed.\8\ On March 2, 2022, the Commission published notice
of Amendment No. 2 to the proposed rule change.\9\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 93221, 86 FR 55662
(October 6, 2021). The Commission designated December 9, 2021 as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to approve or disapprove,
the proposed rule change.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 93741, 86 FR 71111
(Dec. 14, 2021).
\8\ Amendment No. 2 is available at: <a href="https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145-20118274-271197.pdf">https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145-20118274-271197.pdf</a>. On
February 17, 2022, the Exchange filed Amendment No. 1 to the
proposed rule change. The Exchange withdrew Amendment No. 1 on March
1, 2022.
\9\ See Securities Exchange Act Release No. 94349.
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Section 19(b)(2) of the Act \10\ 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 September
10, 2021.\11\ The 180th day after publication of the proposed rule
change is March 9, 2022. The Commission is extending the time period
for approving or disapproving the proposed rule change, as modified by
Amendment No. 2, for an additional 60 days.
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\10\ 15 U.S.C. 78s(b)(2).
\11\ 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, as modified by Amendment No. 2, so that it has
sufficient time to consider the proposed rule change, as modified by
Amendment No. 2, and the issues raised in the comments that have been
submitted in connection therewith. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\12\ designates May 8, 2022, as
the date by which the Commission shall either approve or disapprove the
proposed rule change, as modified by Amendment No. 2 (File No. SR-NYSE-
2021-45).
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\12\ 15 U.S.C. 78s(b)(2).
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-05023 Filed 3-9-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 10, 2022.
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