2020-28508. Self-Regulatory Organizations; New York Stock Exchange LLC, Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change to Amend Rules 7.35 and 7.35A  

  • Start Preamble December 18, 2020.

    On November 3, 2020, 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 (1) amend Rule 7.35 to make permanent that the Exchange would disseminate Auction Imbalance Information if a security is an IPO or Direct Listing and has not had its IPO Auction or Direct Listing Auction; and (2) amend Rule 7.35A regarding consultations in connection with an IPO or Direct Listing. The proposed rule change was published for comment in the Federal Register on November 17, 2020.[3] The Commission has received no comment letters on the proposed rule change.

    Section 19(b)(2) of the Act [4] provides that within 45 days of the publication of notice of the filing of a propose rule change, or within such longer period up to 90 days as the Commission may designate if it find such longer period to be appropriate and published its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the Notice for the proposed rule change is January 1, 2021. The Commission is extending this 45-day period.

    The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, pursuant to Section 19(b)(2) of the Act,[5] the Commission designates February 15, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to approve or disapprove, the proposed rule change (File No. SR-NYSE-2020-93).

    Start Signature

    For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[6]

    J. Matthew DeLesDernier,

    Assistant Secretary.

    End Signature End Preamble

    Footnotes

    [FR Doc. 2020-28508 Filed 12-23-20; 8:45 am]

    BILLING CODE 8011-01-P

Document Information

Published:
12/28/2020
Department:
Securities and Exchange Commission
Entry Type:
Notice
Document Number:
2020-28508
Pages:
84446-84446 (1 pages)
Docket Numbers:
Release No. 34-90723, File No. SR-NYSE-2020-93
PDF File:
2020-28508.Pdf