Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 26331 

11 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3The Commission notes that throughout this 

Notice we have used the term ‘‘SPAC’’ or ‘‘SPACs.’’ 

These terms have the same meaning as an 

‘‘Acquisition Company’’ or ‘‘AC’’ which is the term 

used by NYSE in its current proposed rule filing 

and rule text. 

4See Securities Exchange Act Release No. 82180 

(November 30, 2017), 82 FR 57632 (December 6, 

2017) (‘‘Notice’’). 

5See Letters to Brent J. Fields, Secretary, 

Commission, from Michael Kitlas, dated November 

30, 2017 (‘‘Kitlas Letter’’) and Jeffrey P. Mahoney, 

General Counsel, Council of Institutional Investors, 

dated December 20, 2017 (‘‘CII Letter’’). 

6See Securities Exchange Act Release No. 82531 

(January 18, 2018), 83 FR 3371 (January 24, 2018) 

(‘‘Extension’’). 

7See Securities Exchange Act Release No. 82804 

(March 5, 2018), 83 FR 10530 (March 9, 2018). 

8See Letters to Brent J. Fields, Secretary, 

Commission, from Jeffrey P. Mahoney, General 

Counsel, Council of Institutional Investors, dated 

March 26, 2018 (‘‘CII Letter II’’). 

9 15 U.S.C. 78s(b)(2). 

10 Id. 

11 17 CFR 200.30–3(a)(31). 

1 15 U.S.C. 78q–1(c)(4)(B). 

2Securities Exchange Act Release No. 34–82342 

(Dec. 18, 2017), 82 FR 60778. 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSEArca–2018–37, and 

should be submitted on or before June 

27, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12112 Filed 6–5–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83355; File No. SR–NYSE– 

2017–53] 

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 the Listed 

Company Manual for Special Purpose 

Acquisition Companies To Lower the 

Initial Holders Requirement From 300 

to 150 Round Lot Holders and To 

Eliminate Completely the 300 Public 

Stockholders Continued Listing 

Requirement, To Require at Least $5 

Million in Net Tangible Assets for Initial 

and Continued Listing, and To Impose 

a 30-Day Deadline To Demonstrate 

Compliance With Certain Initial Listing 

Requirements Following a Business 

Combination 

May 31, 2018. 

On November 16, 2017, 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 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend the Listed Company Manual for 

Special Purpose Acquisition Companies 

(‘‘SPACs’’) 3 to lower the initial holders 

requirement from 300 to 150 round lot 

holders and to eliminate the continued 

listing requirement of 300 public 

stockholders completely, to require at 

least $5 million in net tangible assets for 

initial listing and continued listing, and 

to allow companies 30 days to 

demonstrate compliance with the 

applicable holder requirements of 

Section 102.01A in the Listed Company 

Manual following a business 

combination. Finally, NYSE proposes to 

eliminate certain alternative initial 

listing distribution criteria for SPACs 

that list in connection with a transfer or 

quotation. The proposed rule change 

was published for comment in the 

Federal Register on December 6, 2017.4

In response, the Commission received 

two comments on the proposal.5 On 

January 18, 2018, the Commission 

extended the time period within which 

to approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether to approve or disapprove the 

proposed rule change to March 6, 2018.6

The Commission issued an order 

instituting proceedings under Section 

19(b)(2)(B) of the Act to determine 

whether to approve or disapprove the 

proposed rule change on March 5, 2018 

(‘‘OIP’’).7 The Commission received one 

additional comment letter in response to 

the OIP.8

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, however, 

extend the period for issuing an order 

approving or disapproving the proposed 

rule change 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 

December 6, 2017. June 4, 2018 is 180 

days from that date, and August 3, 2018 

is 240 days from that date. The 

Commission finds it 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 

comment letters. Accordingly, the 

Commission, pursuant to Section 

19(b)(2) of the Act,10 designates August 

3, 2018, as the date by which the 

Commission shall either approve or 

disapprove the proposed rule change 

(File No. SR–NYSE–2017–53). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12113 Filed 6–5–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83361] 

Order Cancelling Registrations of 

Certain Transfer Agents 

June 1, 2018. 

On December 22, 2017, notice was 

published in the Federal Register that 

the Securities and Exchange 

Commission (‘‘Commission’’) intended 

to issue an order, pursuant to Section 

17A(c)(4)(B) of the Securities Exchange 

Act of 1934 (‘‘Act’’),1 cancelling the 

registrations of certain transfer agents.2

For the reasons discussed below, the 

Commission is cancelling the 

registration of the transfer agents 

identified in the attached Appendix. 

FOR FURTHER INFORMATION CONTACT: 

Moshe Rothman, Assistant Director, or 

Catherine Whiting, Special Counsel, at 

(202) 551–4990, U.S. Securities and 

Exchange Commission, Division of 

Trading and Markets, Room 7321 SP1, 


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