Notice2022-19920
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. 1, To Amend the NYSE Listed Company Manual To Provide a Limited Exemption From the Shareholder Approval Requirements for Closed-End Management Investment Companies With Equity Securities Listed Under Section 102.04 of the Listed Company Manual
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
September 15, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 178 (Thursday, September 15, 2022)</title>
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[Federal Register Volume 87, Number 178 (Thursday, September 15, 2022)]
[Notices]
[Pages 56716-56717]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-19920]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95716; File No. SR-NYSE-2022-11]
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. 1, To Amend the NYSE Listed
Company Manual To Provide a Limited Exemption From the Shareholder
Approval Requirements for Closed-End Management Investment Companies
With Equity Securities Listed Under Section 102.04 of the Listed
Company Manual
September 9, 2022.
On February 23, 2022, 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'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend Section 312.03 of the NYSE Listing
Company Manual to provide an exemption from certain shareholder
approval requirements of that rule for listed registered closed-end
[[Page 56717]]
management investment companies and business development companies
under certain circumstances. On March 8, 2022, the Exchange filed
Amendment No. 1 to the proposed rule change, which amended and replaced
the proposed rule change in its entirety. The proposed rule change, as
modified by Amendment No. 1, was published for comment in the Federal
Register on March 15, 2022.\3\ The Commission has received no comment
letters on the proposed rule change, as modified by Amendment No. 1.
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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. 94388 (March 9,
2022), 87 FR 14589.
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On April 26, 2022, 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 June 13, 2022, the Commission instituted proceedings
under Section 19(b)(2)(B) of 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. 94795, 87 FR 25689
(May 2, 2022). The Commission designated June 13, 2022, as the date
by which the Commission shall approve or disapprove, or institute
proceedings to determine whether to disapprove, the proposed rule
change, as modified by Amendment No. 1.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 95093, 87 FR 36548
(June 17, 2022).
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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 March 15,
2022.\9\ The 180th day after publication of the proposed rule change is
September 11, 2022. The Commission is extending the time period for
approving or disapproving the proposed rule change, as modified by
Amendment No. 1, 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 it appropriate to designate a longer period
within which to issue an order approving or disapproving the proposed
rule change, as modified by Amendment No. 1, so that it has sufficient
time to consider the proposed rule change, as modified by Amendment No.
1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\10\ designates November 10, 2022, as the date by which the
Commission shall either approve or disapprove the proposed rule change,
as modified by Amendment No. 1 (File No. SR-NYSE-2022-11).
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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,
Deputy Secretary.
[FR Doc. 2022-19920 Filed 9-14-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 15, 2022.
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