[Federal Register Volume 89, Number 218 (Tuesday, November 12, 2024)]
[Notices]
[Pages 89070-89071]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26093]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101517; File No. SR-NYSE-2024-23]


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 To Amend Section 703.12(II) of the NYSE Listed Company 
Manual To Expand the Circumstances Under Which Rights May Be Listed on 
the NYSE

November 5, 2024.
    On April 29, 2024, 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 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend Section 703.12(II) of the NYSE Listed 
Company Manual to expand the circumstances under which rights may be 
listed on the NYSE by allowing issuers to (i) issue rights to more than 
existing shareholders for a class of securities that is listed or to be 
listed on the Exchange, and (ii) list and trade rights on the Exchange 
prior to listing the security into which such rights will be 
exercisable. The proposed rule change was published for comment in the 
Federal Register on May 15, 2024.\3\ On June 26, 2024, pursuant to 
Section 19(b)(2) of the Act,\4\ 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.\5\ On August 19, 2024, the 
Commission instituted proceedings pursuant to Section 19(b)(2)(B) of 
the Act \6\ to determine whether to approve or disapprove the proposed 
rule change.\7\ The Commission has received no comment letters on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 100102 (May 10, 
2024), 89 FR 42543 (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 100437, 89 FR 54894 
(July 2, 2024).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 100720 (August 13, 
2024), 89 FR 67120 (August 19, 2024).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed

[[Page 89071]]

rule change not later than 180 days after the date of publication of 
the 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 
the reasons for such determination. The proposed rule change was 
published for notice and comment in the Federal Register on May 15, 
2024.\9\ The 180th day after publication of the Notice is November 11, 
2024. The Commission is extending the time period for approving or 
disapproving the proposed rule change for an additional 60 days.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 3.
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    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. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\10\ designates January 10, 2025 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSE-2024-23).
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    \10\ 15 U.S.C. 78s(b)(2).

    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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Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-26093 Filed 11-8-24; 8:45 am]
BILLING CODE 8011-01-P