Notice2022-05024
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 To Amend the Requirements of Section 102.06 of the NYSE Listed Company Manual To Allow an Acquisition Company To Contribute a Portion of Its Trust Account to a New Acquisition Company and Spin-Off the New Acquisition Company to Its Shareholders
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 13780-13781]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-05024]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94362; File No. SR-NYSE-2021-42]
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 To Amend the Requirements of Section 102.06 of the NYSE
Listed Company Manual To Allow an Acquisition Company To Contribute a
Portion of Its Trust Account to a New Acquisition Company and Spin-Off
the New Acquisition Company to Its Shareholders
March 4, 2022.
On August 23, 2021, the 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 (``Act'' or ``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to amend the requirements of
Section 102.06 of the NYSE Listed Company Manual (``Manual'') to allow
an acquisition company to contribute a portion of the amount held in
its trust account to a trust account of a new
[[Page 13781]]
acquisition company and spin off the new acquisition company to its
shareholders in certain situations. The proposed rule change was
published for comment in the Federal Register on September 8, 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. 92839 (September 1,
2021), 86 FR 50408. Comments received on the proposal are available
on the Commission's website at: <a href="https://www.sec.gov/comments/sr-nyse-2021-42/srnyse202142.htm">https://www.sec.gov/comments/sr-nyse-2021-42/srnyse202142.htm</a>.
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On September 30, 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 December 3, 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\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 93222, 86 FR 55671
(October 6, 2021). The Commission designated December 7, 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. 93714, 86 FR 70150
(Dec. 9, 2021).
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Section 19(b)(2) of the Act \8\ 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
8, 2021.\9\ The 180th day after publication of the proposed rule change
is March 7, 2022. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ 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 and the comments that have been submitted in
connection therewith. Accordingly, the Commission, pursuant to Section
19(b)(2) of the Act,\10\ designates May 6, 2022, as the date by which
the Commission shall either approve or disapprove the proposed rule
change (File No. SR-NYSE-2021-42).
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\10\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-05024 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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