Notice2025-21982
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 To Exempt Closed-End Management Investment Companies Registered Under the Investment Company Act of 1940 That Are Listed as of or After May 20, 2025 From the Annual Meeting of Shareholders Requirement Set Forth in Exchange Rule 14.10(f)
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 5, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 232 (Friday, December 5, 2025)</title>
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[Federal Register Volume 90, Number 232 (Friday, December 5, 2025)]
[Notices]
[Page 56220]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-21982]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104285; File No. SR-CboeBZX-2025-072]
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 To
Exempt Closed-End Management Investment Companies Registered Under the
Investment Company Act of 1940 That Are Listed as of or After May 20,
2025 From the Annual Meeting of Shareholders Requirement Set Forth in
Exchange Rule 14.10(f)
December 2, 2025.
On May 20, 2025, 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
(``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule
change to exempt closed-end management investment companies registered
under the Investment Company Act of 1940 (``1940 Act'') \3\ that are
listed as of or after May 20, 2025 from the annual meeting of
shareholders requirement set forth in Exchange Rule 14.10(f). The
proposed rule change was published for comment in the Federal Register
on June 6, 2025.\4\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 80a-1 et seq.
\4\ See Securities Exchange Act Release No. 103166 (June 2,
2025), 90 FR 24172 (``Notice''). Comments on the proposed rule
change are available at: <a href="https://www.sec.gov/comments/sr-cboebzx-2025-072/srcboebzx2025072.htm">https://www.sec.gov/comments/sr-cboebzx-2025-072/srcboebzx2025072.htm</a>.
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On July 14, 2025, pursuant to Section 19(b)(2) of the Exchange
Act,\5\ 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.\6\ On September 2, 2025, the Commission
instituted proceedings under Section 19(b)(2)(B) of the Act \7\ to
determine whether to approve or disapprove the proposed rule change.\8\
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\5\ 15 U.S.C. 78s(b)(2).
\6\ See Securities Exchange Act Release No. 103452, 90 FR 33449
(July 17, 2025). The Commission designated September 4, 2025, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
\7\ 15 U.S.C. 78s(b)(2)(B).
\8\ See Securities Exchange Act Release No. 103824, 90 FR 42991
(Sept. 5, 2025).
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Section 19(b)(2) of the Act \9\ provides that, after instituting
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change no 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 reasons for such determination. The proposed rule was
published for comment in the Federal Register on June 6, 2025. The
180th day after publication of the proposed rule change is December 3,
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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\9\ 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 issue an order approving or disapproving the
proposed rule change so that it has sufficient time to consider the
proposed rule change and the issues raised therein. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\10\ designates
February 1, 2026, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-CboeBZX-
2025-072).
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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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-21982 Filed 12-4-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on December 5, 2025.
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