Notice2025-09186
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Permit the Generic Listing and Trading of Multi-Class ETF Shares
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
May 22, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 98 (Thursday, May 22, 2025)</title>
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[Federal Register Volume 90, Number 98 (Thursday, May 22, 2025)]
[Notices]
[Page 21955]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-09186]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103061; File No. SR-CboeBZX-2024-112]
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change, as
Modified by Amendment No. 1, To Permit the Generic Listing and Trading
of Multi-Class ETF Shares
May 16, 2025.
On November 8, 2024, Cboe BZX Exchange, Inc. (``BZX'' 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 permit the generic listing and trading of
Multi-Class ETF Shares. The proposed rule change was published for
comment in the Federal Register on November 25, 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. 101655 (Nov, 19,
2024), 89 FR 92989. Comments on the proposed rule change are
available at: <a href="https://www.sec.gov/comments/sr-cboebzx-2024-112/srcboebzx2024112.htm">https://www.sec.gov/comments/sr-cboebzx-2024-112/srcboebzx2024112.htm</a>.
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On December 18, 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 February 12, 2025, 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\ On March 11, 2025,
the Exchange filed, and the Commission issued notice of filing of,
Amendment No. 1 to the proposed rule change.\8\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 101960, 89 FR 105118
(Dec. 26, 2024).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 102408, 90 FR 9937
(Feb. 19, 2025).
\8\ See Securities Exchange Act Release No. 102594, 90 FR 12387
(Mar. 17, 2025). Amendment No. 1 to the proposed rule change is also
available at: <a href="https://www.sec.gov/comments/sr-cboebzx-2024-112/srcboebzx2024112-599215-1741022.pdf">https://www.sec.gov/comments/sr-cboebzx-2024-112/srcboebzx2024112-599215-1741022.pdf</a>.
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Section 19(b)(2) of the Act \9\ provides that, after initiating
disapproval 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 notice and comment in the
Federal Register on November 25, 2024. May 24, 2025 is 180 days from
that date, and July 23, 2025 is 240 days from that date.
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\9\ 15 U.S.C. 78s(b)(2).
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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, as modified by Amendment No. 1, so that it has sufficient
time to consider the proposed rule change, as modified by Amendment No.
1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\10\ designates July 23, 2025 as the date by which the Commission
shall either approve or disapprove the proposed rule change, as
modified by Amendment No. 1 (File No. SR-CboeBZX-2024-112).
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\10\ Id.
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. 2025-09186 Filed 5-21-25; 8:45 am]
BILLING CODE 8011-01-P
</pre></body>
</html>Indexed from Federal Register on May 22, 2025.
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