Notice2024-26093
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 Section 703.12(II) of the NYSE Listed Company Manual To Expand the Circumstances Under Which Rights May Be Listed on the NYSE
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 12, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 218 (Tuesday, November 12, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 218 (Tuesday, November 12, 2024)]
[Notices]
[Pages 89070-89071]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-26093]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101517; File No. SR-NYSE-2024-23]
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 Section 703.12(II) of the NYSE Listed Company
Manual To Expand the Circumstances Under Which Rights May Be Listed on
the NYSE
November 5, 2024.
On April 29, 2024, 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'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend Section 703.12(II) of the NYSE Listed
Company Manual to expand the circumstances under which rights may be
listed on the NYSE by allowing issuers to (i) issue rights to more than
existing shareholders for a class of securities that is listed or to be
listed on the Exchange, and (ii) list and trade rights on the Exchange
prior to listing the security into which such rights will be
exercisable. The proposed rule change was published for comment in the
Federal Register on May 15, 2024.\3\ On June 26, 2024, 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 August 19, 2024, the
Commission instituted proceedings pursuant to Section 19(b)(2)(B) of
the Act \6\ to determine whether to approve or disapprove the proposed
rule change.\7\ The Commission has received no comment letters on the
proposed rule change.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 100102 (May 10,
2024), 89 FR 42543 (``Notice'').
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 100437, 89 FR 54894
(July 2, 2024).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 100720 (August 13,
2024), 89 FR 67120 (August 19, 2024).
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \8\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed
[[Page 89071]]
rule change not later than 180 days after the date of publication of
the 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 notice and comment in the Federal Register on May 15,
2024.\9\ The 180th day after publication of the Notice is November 11,
2024. The Commission is extending the time period for approving or
disapproving the proposed rule change for an additional 60 days.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(2).
\9\ See Notice, supra note 3.
---------------------------------------------------------------------------
The Commission finds it 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. Accordingly, the Commission, pursuant to Section 19(b)(2)
of the Act,\10\ designates January 10, 2025 as the date by which the
Commission shall either approve or disapprove the proposed rule change
(File No. SR-NYSE-2024-23).
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-26093 Filed 11-8-24; 8:45 am]
BILLING CODE 8011-01-P
</pre></body>
</html>Indexed from Federal Register on November 12, 2024.
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.