2021-18673. Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Modify Listing Rule IM-5101-2 To Permit an Acquisition Company To Contribute a Portion ...  

  • Start Preamble August 25, 2021.

    On June 24, 2021, The Nasdaq Stock Market LLC (“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 modify Listing Rule IM-5101-2 to permit an acquisition company to contribute a portion of the amount held in its deposit account to a deposit account of a new acquisition company in a spin-off or similar corporate transaction. The proposed rule change was published for comment in the Federal Register on July 13, 2021.[3]

    Section 19(b)(2) of the Act [4] provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes 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 this proposed rule change is August 27, 2021.

    The Commission is extending the 45-day time period for Commission action on the proposed rule change. The Commission finds it 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 October 11, 2021 as the date Start Printed Page 48781by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NASDAQ-2021-054).

    Start Signature

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

    Jill M. Peterson,

    Assistant Secretary.

    End Signature End Preamble

    Footnotes

    [FR Doc. 2021-18673 Filed 8-30-21; 8:45 am]

    BILLING CODE 8011-01-P

Document Information

Published:
08/31/2021
Department:
Securities and Exchange Commission
Entry Type:
Notice
Document Number:
2021-18673
Pages:
48780-48781 (2 pages)
Docket Numbers:
Release No. 34-92751, File No. SR-NASDAQ-2021-054
PDF File:
2021-18673.pdf