Notice2024-30688
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 302.00 of the NYSE Listed Company Manual To Exempt Closed-End Funds Registered Under the Investment Company Act of 1940 From the Requirement To Hold Annual Shareholder Meetings
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
December 26, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 247 (Thursday, December 26, 2024)</title>
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[Federal Register Volume 89, Number 247 (Thursday, December 26, 2024)]
[Notices]
[Page 105143]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-30688]
[[Page 105143]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101968; File No. SR-NYSE-2024-35]
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 302.00 of the NYSE Listed Company Manual
To Exempt Closed-End Funds Registered Under the Investment Company Act
of 1940 From the Requirement To Hold Annual Shareholder Meetings
December 18, 2024.
On June 21, 2024, New York Stock Exchange LLC (``NYSE'') 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
302.00 of the NYSE Listed Company Manual to exempt closed-end funds
registered under the Investment Company Act of 1940 from the
requirement to hold annual shareholder meetings. The proposed rule
change was published for comment in the Federal Register on July 9,
2024.\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. 100460 (July 3,
2024), 89 FR 56447. Comments on the proposed rule change are
available at: <a href="https://www.sec.gov/comments/sr-nyse-2024-35/srnyse202435.htm">https://www.sec.gov/comments/sr-nyse-2024-35/srnyse202435.htm</a>.
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On August 21, 2024, pursuant to Section 19(b)(2) of the Exchange
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 October 4, 2024, the Commission instituted
proceedings under Section 19(b)(2)(B) of the 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. 100790, 89 FR 68676
(Aug. 27, 2024). The Commission designated October 7, 2024, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 101257, 89 FR 82277
(Oct. 10, 2024).
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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 July 9,
2024.\9\ The 180th day after publication of the proposed rule change is
January 5, 2025. 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 and accompanying text.
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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, the issues raised therein, and the comments
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of
the Act,\10\ designates March 6, 2025, as the date by which the
Commission shall either approve or disapprove the proposed rule change
(File No. SR-NYSE-2024-35).
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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. 2024-30688 Filed 12-23-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on December 26, 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.