Notice2023-25776
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Amend Section 312.03(b) of the NYSE Listed Company Manual To Modify the Circumstances Under Which a Listed Company Must Obtain Shareholder Approval of a Sale of Securities Below the Minimum Price to a Substantial Security Holder of the Company
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
November 22, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 224 (Wednesday, November 22, 2023)</title>
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[Federal Register Volume 88, Number 224 (Wednesday, November 22, 2023)]
[Notices]
[Pages 81462-81463]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-25776]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98967; File No. SR-NYSE-2023-34]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of Longer Period for Commission Action on a
Proposed Rule Change To Amend Section 312.03(b) of the NYSE Listed
Company Manual To Modify the Circumstances Under Which a Listed Company
Must Obtain Shareholder Approval of a Sale of Securities Below the
Minimum Price to a Substantial Security Holder of the Company
November 16, 2023.
On September 26, 2023, New York Stock Exchange LLC (the
``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(b) of the NYSE Listed
Company Manual (``Manual'') to modify the circumstances under which a
listed company must obtain shareholder approval of a sale of securities
below the Minimum Price \3\ to a substantial security holder of the
listed company. The proposed rule change was published for comment in
the Federal Register on October 4, 2023.\4\ The Commission received no
comments on the proposed rule change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Minimum Price is defined in Section 312.04(h) of the Manual.
\4\ See Securities Exchange Act Release No. No. 98662 (September
29, 2023), 88 FR 68675 (October 4, 2023).
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Section 19(b)(2) of the Act \5\ 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
[[Page 81463]]
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 November 18,
2023. The Commission is extending this 45-day time period.
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\5\ 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,\6\ designates January 2, 2024, 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-
NYSE-2023-34).
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\6\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-25776 Filed 11-21-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on November 22, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.