Notice2025-04082
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 Adopt a Provision That the Exchange Will Not Review a Compliance Plan Submitted by a Listed Company That is Below Compliance With a Continued Listing Standard if the Company Owes Any Unpaid Fees to the Exchange and Will Instead Immediately Commence Suspension and Delisting Procedures if Such Fees Are Not Paid in Full
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
March 14, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 49 (Friday, March 14, 2025)</title>
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[Federal Register Volume 90, Number 49 (Friday, March 14, 2025)]
[Notices]
[Pages 12187-12188]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-04082]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102560; File No. SR-NYSE-2024-44]
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 Adopt a Provision That the Exchange Will Not Review a
Compliance Plan Submitted by a Listed Company That is Below Compliance
With a Continued Listing Standard if the Company Owes Any Unpaid Fees
to the Exchange and Will Instead Immediately Commence Suspension and
Delisting Procedures if Such Fees Are Not Paid in Full
March 10, 2025.
On September 27, 2024, New York Stock Exchange LLC (``NYSE'' or 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 Sections 802.02 and 802.03 of the NYSE
Listed Company Manual (``Manual'') to provide that the Exchange (1)
will not review a compliance plan submitted by a domestic or non-U.S.
listed company that is determined to be below compliance with a
continued listing standard unless the company has paid in full all
outstanding listing or annual fees due to the Exchange and will
immediately commence suspension and delisting procedures in accordance
with Section 804.00 of the Manual if such fees are not paid in full by
the plan submission deadline; or (2) with respect to any unpaid fees
that have become due and payable since the commencement of its plan
period, will immediately commence suspension and delisting procedures
in accordance with Section 804.00 of the Manual if such fees are not
paid in full at the time of any required periodic review of such plan.
The proposed rule change was published for comment in the Federal
Register on October 16, 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. 101295 (Oct. 9,
2024), 89 FR 83527 (``Notice''). Comments on the proposed rule
change are available at: <a href="https://www.sec.gov/comments/sr-nyse-2024-44/srnyse202444.htm">https://www.sec.gov/comments/sr-nyse-2024-44/srnyse202444.htm</a>.
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On November 25, 2024, pursuant to Section 19(b)(2) of the Exchange
Act,\4\ the Commission designated a longer period within which to
either approve the proposed rule change, disapprove the proposed rule
change, or institute proceedings to determine whether to disapprove the
proposed rule change.\5\ On January 13, 2025, the Commission issued an
order instituting proceedings under Section 19(b)(2) of the Exchange
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. 101738, 89 FR 95283
(Dec. 2, 2024). The Commission designated January 14, 2025, as the
date by which it should approve, disapprove, or institute
proceedings to determine whether to disapprove the proposed rule
change.
\6\ 15 U.S.C. 78s(b)(2).
\7\ See Securities Exchange Act Release No. 102169, 90 FR 6037
(Jan. 17, 2025).
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Section 19(b)(2) of the Exchange 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 October 16,
[[Page 12188]]
2024.\9\ The 180th day after publication of the proposed rule change is
April 14, 2025. The Commission is extending this 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 Notice, supra note 3, and accompanying text.
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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 so that it has sufficient time to consider the proposed
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2)
of the Exchange Act,\10\ designates June 13, 2025, as the date by which
the Commission shall either approve or disapprove the proposed rule
change (File No. SR-NYSE-2024-44).
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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. 2025-04082 Filed 3-13-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 14, 2025.
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