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[Federal Register Volume 89, Number 245 (Friday, December 20, 2024)]
[Notices]
[Page 104253]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30353]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101929; File No. SR-NYSEAMER-2024-61]

Self-Regulatory Organizations; NYSE American LLC; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Section 1003 of the NYSE American LLC Company Guide To 
Provide for the Suspension and Delisting of Any Company That: (i) Has 
Effected One or More Reverse Stock Splits Over the Prior Two-Year 
Period With a Cumulative Ratio of 200 Shares or More to One; or (ii) 
Has Effectuated a Reverse Stock Split and the Effectuation of Such 
Reverse Stock Split Results in the Company's Security Falling Below Any 
of the Continued Listing Requirements of Section 1003

December 16, 2024.
    On October 16, 2024, NYSE American LLC 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 1003 of the NYSE 
American LLC Company Guide to provide for the suspension and delisting 
of any company that: (i) has effected one or more reverse stock splits 
over the prior two-year period with a cumulative ratio of 200 shares or 
more to one; or (ii) has effectuated a reverse stock split and the 
effectuation of such reverse stock split results in the company's 
security falling below any of the continued listing requirements of 
Section 1003. The proposed rule change was published for comment in the 
Federal Register on November 4, 2024.\3\ 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. 101457 (October 29, 
2024), 89 FR 87661.
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    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 will 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 December 19, 2024. The Commission is extending this 45-day time 
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    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, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
February 2, 2024, as the date by which the Commission shall either 
approve or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-NYSEAMER-2024-61).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-30353 Filed 12-19-24; 8:45 am]
BILLING CODE 8011-01-P
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