Notice2025-21983
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 Amending 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 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 56211]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-21983]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104286; File No. SR-NYSE-2025-20]
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 Amending 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 2, 2025.
On June 6, 2025, 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 (``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to amend Section 302.00 of the
NYSE Listed Company Manual (``Manual'') to exempt closed-end funds
registered under the Investment Company Act of 1940 (``1940 Act'') \3\
from the requirement to hold annual shareholder meetings. The proposed
rule change was published for comment in the Federal Register on June
17, 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. 103244 (June 12,
2025), 90 FR 25659 (``Notice''). Comments on the proposed rule
change are available at: <a href="https://www.sec.gov/comments/sr-nyse-2025-20/srnyse202520.htm">https://www.sec.gov/comments/sr-nyse-2025-20/srnyse202520.htm</a>.
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On July 25, 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 10, 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. 103549, 90 FR 35946
(July 30, 2025). The Commission designated September 15, 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. 103931, 90 FR 44425
(Sept. 15, 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 17, 2025. The
180th day after publication of the proposed rule change is December 14,
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 12, 2026, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-NYSE-2025-
20).
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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. 2025-21983 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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