Notice2023-20305
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Related to Notification and Disclosure of Reverse Stock Splits
Primary source
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Published
September 20, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 181 (Wednesday, September 20, 2023)</title>
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[Federal Register Volume 88, Number 181 (Wednesday, September 20, 2023)]
[Notices]
[Page 64936]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-20305]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98386; File No. SR-NASDAQ-2023-025]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change Related to Notification and Disclosure of Reverse
Stock Splits
September 14, 2023.
On July 21, 2023, The Nasdaq Stock Market 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 related to
notification and disclosure of reverse stock splits. The proposed rule
change was published for comment in the Federal Register on August 3,
2023.\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. 98014 (July 28,
2023), 88 FR 51376. Comment received by the Commission on the
proposed rule change is available on the Commission's website at:
<a href="https://www.sec.gov/comments/sr-nasdaq-2023-025/srnasdaq2023025.htm">https://www.sec.gov/comments/sr-nasdaq-2023-025/srnasdaq2023025.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 September 17, 2023. 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 that it is 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.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\5\ designates November 1, 2023, 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-2023-025).
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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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-20305 Filed 9-19-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 20, 2023.
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