11886 Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 

35For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

36 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

an additional venue for executing 

nonconforming stock-option orders 

electronically. For these reasons, the 

Commission believes that waiver of the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest. Accordingly, the 

Commission waives the 30-day 

operative delay and designates the 

proposed rule change operative upon 

filing.35

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission will institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

CboeEDGX–2024–012 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–CboeEDGX–2024–012. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

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 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–CboeEDGX–2024–012 and should be 

submitted on or before March 7, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.36

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03099 Filed 2–14–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99512; File No. SR– 

NASDAQ–2024–004] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend 

Listing Rules 5815 and 5820 To Modify 

the Deadline To Submit the Required 

Fee for a Hearing Request and To 

Remove Obsolete Language 

February 9, 2024. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 

30, 2024, The Nasdaq Stock Market LLC 

(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II, 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Listing Rules 5815 and 5820 to modify 

the deadline to submit the required fee 

for a hearing request and to remove 

obsolete language. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/nasdaq/rules, at the principal 

office of the Exchange, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to align the deadline to 

request a hearing contained in Rule 

5815(a)(1) with the deadline to submit 

the hearing fee in Rule 5815(a)(3) so that 

both requirements are seven calendar 

days. Under the current rule, a company 

must request a hearing within seven 

calendar days of a Staff Delisting 

Determination, Public Reprimand 

Letter, or written denial of an initial 

listing application, but is allowed 15 

calendar days to submit the required 

hearing fee. The extended period to 

submit the hearing fee was adopted 

originally to allow time for companies 

to mail checks for the payment. 

However, technology has become more 

efficient, and companies now can easily 

and inexpensively submit the required 

payment by wire or other electronic 

means, so there is no longer a need to 

wait for checks to be mailed and 

received. As such, Nasdaq proposes to 

modify the rule to require payment of 

the required $20,000 hearing fee within 

seven calendar days of the Staff 

Delisting Determination, Public 

Reprimand Letter, or written denial of 

an initial listing application to reflect 

the ease and speed with which 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 32 / Thursday, February 15, 2024 / Notices 11887 

3Rule 5815(a)(2) provides that if a company fails 

to timely request a hearing to review a Delisting 

Determination, the Hearings Department will take 

action to suspend trading of the securities and 

follow procedures to delist the securities. Delisting 

will also commence if a timely hearing request is 

made but the required fee is not paid timely. 

4 15 U.S.C. 78f(b). 

5 15 U.S.C. 78f(b)(5). 

6See footnote 3, supra. 

7 15 U.S.C. 78s(b)(3)(A)(iii). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 9 17 CFR 200.30–3(a)(12). 

payments may be made by wire or other 

electronic means. The change also will 

avoid circumstances where a company 

benefits from remaining listed for an 

additional eight calendar days after a 

hearing request is made due to a Staff 

Delisting Determination if the required 

fee is not ever submitted.3

The proposed rule change would also 

remove from Rules 5815(a)(3) and 

5820(a) obsolete language that describes 

the fees applicable for hearings before a 

Hearings Panel and appeals to the 

Listing Council requested before 

February 10, 2023. 

The proposed rule change will 

become operative for Staff Delisting 

Determinations, Public Reprimand 

Letters, or written denials of an initial 

listing application issued after March 1, 

2024. This will help assure that all 

affected companies have timely 

notification of the change in the 

deadline to submit the fee. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,4 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,5

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest, by 

shortening the current 15-day deadline 

for the hearing fee payments to align 

with the seven-day window for a 

company to request a hearing. This 

change reflects the ease and speed with 

which payments may be made by wire 

or other electronic means. This also will 

avoid circumstances where a company 

benefits from remaining listed for an 

additional eight calendar days after a 

hearing request is made for review of a 

Staff Delisting Determination if the 

required fee is not ever submitted.6 The 

proposed change to eliminate obsolete 

language from the rules will have no 

substantive impact but will enhance the 

readability of the Exchange’s rulebook. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act because the 

proposal does not have a competitive 

impact. The proposal merely aligns the 

time to request a hearing with the time 

to pay the required fee, with both being 

seven calendar days, and improves the 

readability of the Exchange’s rulebook 

by removing obsolete language that is no 

longer applicable. Each of these changes 

will affect all listed companies in the 

same manner and will have no impact 

on intramarket competition. In addition, 

the proposed rule change relates only to 

Nasdaq’s review process and will have 

no impact on intermarket competition 

because other markets are free to 

structure their review processes as they 

see fit. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 7 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.8

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NASDAQ–2024–004 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–NASDAQ–2024–004. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

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 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NASDAQ–2024–004 and should be 

submitted on or before March 7, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03101 Filed 2–14–24; 8:45 am] 

BILLING CODE 8011–01–P 


khammond on DSKJM1Z7X2PROD with NOTICES