[Federal Register Volume 87, Number 47 (Thursday, March 10, 2022)]
[Notices]
[Pages 13779-13780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05023]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94363; File No. SR-NYSE-2021-45]


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, as Modified by Amendment No. 2, To Adopt Listing Standards 
for Subscription Warrants Issued by a Company Organized Solely for the 
Purpose of Identifying an Acquisition Target

March 4, 2022.
    On August 24, 2021, 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 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to adopt listing standards for 
subscription warrants issued by a company organized solely for the 
purpose of identifying an acquisition target. The proposed rule change 
was published for comment in the Federal Register on September 10, 
2021.\3\
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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. 92876 (September 3, 
2021), 86 FR 50748. Comments received on the proposal are available 
on the Commission's website at: https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145.htm.
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    On September 30, 2021, pursuant to Section 19(b)(2) of the Exchange 
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 December 8, 2021, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Exchange Act \6\ to 
determine whether to approve or disapprove the proposed rule change.\7\ 
On March 1, 2022, the Exchange filed Amendment No. 2 to the proposed 
rule change, which replaced and superseded the proposed rule change as 
originally filed.\8\ On March 2, 2022, the Commission published notice 
of Amendment No. 2 to the proposed rule change.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 93221, 86 FR 55662 
(October 6, 2021). The Commission designated December 9, 2021 as the 
date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to approve or disapprove, 
the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 93741, 86 FR 71111 
(Dec. 14, 2021).
    \8\ Amendment No. 2 is available at: https://www.sec.gov/comments/sr-nyse-2021-45/srnyse202145-20118274-271197.pdf. On 
February 17, 2022, the Exchange filed Amendment No. 1 to the 
proposed rule change. The Exchange withdrew Amendment No. 1 on March 
1, 2022.
    \9\ See Securities Exchange Act Release No. 94349.
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    Section 19(b)(2) of the Act \10\ provides that, after initiating 
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 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 comment in the Federal Register on September 
10, 2021.\11\ The 180th day after publication of the proposed rule 
change is March 9, 2022. The Commission is extending the time period 
for approving or disapproving the proposed rule change, as modified by 
Amendment No. 2, for an additional 60 days.
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    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See supra note 3.
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    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change, as modified by Amendment No. 2, so that it has 
sufficient time to consider the proposed rule change, as modified by 
Amendment No. 2, and the issues raised in the comments that have been 
submitted in connection therewith. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Act,\12\ designates May 8, 2022, as 
the date by which the Commission shall either approve or disapprove the 
proposed rule change, as modified by Amendment No. 2 (File No. SR-NYSE-
2021-45).
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    \12\ 15 U.S.C. 78s(b)(2).


[[Page 13780]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-05023 Filed 3-9-22; 8:45 am]
BILLING CODE 8011-01-P