Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 6037 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 101295 

(Oct. 9, 2024), 89 FR 83527 (‘‘Notice’’). Comments 

on the proposed rule change are available at: 

https://www.sec.gov/comments/sr-nyse-2024-44/ 

srnyse202444.htm. 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 

101738, 89 FR 95283 (December 2, 2024). The 

Commission designated January 14, 2025, as the 

date by which it should approve, disapprove, or 

institute proceedings to determine whether to 

disapprove the proposed rule change. 

6 15 U.S.C. 78s(b)(2)(B). 

7See Sections 802.02 and 802.03 of the Manual. 

See also Notice at 83527. 

8See Sections 802.02 and 802.03 of the Manual. 

9See Sections 802.02 and 802.03 of the Manual. 

See also Notice at 83527. 

10See Sections 802.02 and 802.03 of the Manual; 

Notice at 83527. 

11See Sections 802.02 and 802.03 of the Manual. 

See also Notice at 83528. The Exchange will make 

such determination within 45 days of receipt of the 

plan and will promptly notify the company of its 

determination in writing. See Sections 802.02 and 

802.03 of the Manual. 

12See Sections 802.02 and 802.03 of the Manual. 

See also Notice at 83528. The Exchange will deem 

the plan period over prior to the end of the 18 

months if a company is able to demonstrate 

returning to compliance with the applicable 

continued listing standards or achieving the ability 

to qualify under an original listing standard, for a 

period of two consecutive quarters. See Sections 

802.02 and 802.03 of the Manual. 

13See Sections 802.02 and 802.03 of the Manual. 

If the Exchange determines to proceed with 

suspension and delisting procedures in accordance 

with Section 804.00 of the Manual, it may do so 

regardless of the company’s continued listing status 

at that time. See id. 

14See id. 

15See proposed amendments to Sections 802.02 

and 802.03 of the Manual; Notice at 83528. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102169; File No. SR–NYSE– 

2024–44] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Instituting Proceedings To Determine 

Whether To Approve or Disapprove a 

Proposed Rule Change To Adopt a 

Provision That the Exchange Will Not 

Review a Compliance Plan Submitted 

by a Listed Company That Is Below 

Compliance With a Continued Listing 

Standard If the Company Owes Any 

Unpaid Fees to the Exchange and Will 

Instead Immediately Commence 

Suspension and Delisting Procedures 

If Such Fees Are Not Paid in Full 

January 13, 2025. 

I. Introduction 

On September 27, 2024, New York 

Stock Exchange LLC (‘‘NYSE’’ or the 

‘‘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 amend Sections 802.02 and 

802.03 of the NYSE Listed Company 

Manual (‘‘Manual’’) to provide that the 

Exchange (1) will not review a 

compliance plan submitted by a 

domestic or non-U.S. listed company 

that is determined to be below 

compliance with a continued listing 

standard unless the company has paid 

in full all outstanding listing or annual 

fees due to the Exchange and will 

immediately commence suspension and 

delisting procedures in accordance with 

Section 804.00 of the Manual if such 

fees are not paid in full by the plan 

submission deadline; or (2) with respect 

to any unpaid fees that have become 

due and payable since the 

commencement of its plan period, will 

immediately commence suspension and 

delisting procedures in accordance with 

Section 804.00 of the Manual if such 

fees are not paid in full at the time of 

any required periodic review of such 

plan. The proposed rule change was 

published for comment in the Federal 

Register on October 16, 2024.3

On November 25, 2024, pursuant to 

Section 19(b)(2) of the Exchange Act,4

the Commission designated a longer 

period within which to either approve 

the proposed rule change, disapprove 

the proposed rule change, or institute 

proceedings to determine whether to 

disapprove the proposed rule change.5

This order institutes proceedings under 

Section 19(b)(2)(B) of the Exchange Act 6

to determine whether to approve or 

disapprove the proposed rule change. 

II. Description of the Proposed Rule 

Change 

Currently, Sections 802.02 and 802.03 

of the Manual provide that when the 

Exchange identifies a domestic 

company subject to Section 802.02 of 

the Manual (‘‘listed domestic 

company’’) or a non-U.S. company 

subject to Section 802.03 of the Manual 

(‘‘listed non-U.S. company’’) as being 

below the continued listing criteria set 

forth in Section 802.01 of the Manual 

(and the company is not able to 

otherwise qualify under an original 

listing standard), the Exchange will 

notify the company of such 

noncompliance by letter and give the 

company an opportunity to provide the 

Exchange with a plan (‘‘plan’’) advising 

the Exchange of definitive action the 

company has taken, or is taking, that 

would bring it into conformity with 

continued listing standards within 18 

months.7 If a company submits a plan 

pursuant to Sections 802.02 or 802.03 of 

the Manual, it must identify specific 

quarterly milestones, in the case of 

listed domestic companies, or semiannual milestones, in the case of listed 

non-U.S. companies, against which the 

Exchange will evaluate the company’s 

progress.8 A company has 45 days, in 

the case of listed domestic companies, 

or 90 days, in the case of listed non-U.S. 

companies, from receipt of the letter 

from the Exchange identifying an event 

of noncompliance to submit its plan to 

the Exchange for review (the ‘‘plan 

submission deadline’’).9 Otherwise, 

suspension and delisting procedures 

will commence in accordance with 

Section 804.00 of the Manual.10

With respect to a plan submitted 

pursuant to Sections 802.02 or 802.03 of 

the Manual, Exchange staff will evaluate 

the plan, including any supporting 

documentation, and determine whether 

the company has made a reasonable 

demonstration in the plan of the 

company’s ability to come into 

conformity with the relevant continued 

listing standards within 18 months.11 If 

the Exchange accepts the plan, the 

Exchange will review the company for 

compliance with the plan either 

quarterly, in the case of a listed 

domestic company, or semi-annually, in 

the case of a listed non-U.S. company.12

If the Exchange determines that the 

company has failed to meet the material 

aspects of the plan or any quarterly or 

semi-annual milestones, as applicable, 

the Exchange will review the 

circumstances and variance, and 

determine whether such variance 

warrants commencement of suspension 

and delisting procedures.13 In any 

event, a company that does not meet the 

continued listing standards at the end of 

the 18 months will be subject to the 

prompt initiation of suspension and 

delisting procedures in accordance with 

Section 804.00 of the Manual.14

The Exchange proposes to amend 

Sections 802.02 and 802.03 of the 

Manual to provide that the Exchange 

will not review a plan submitted by a 

listed domestic company or listed nonU.S. company (each referred to herein as 

a ‘‘listed company’’ and, together, 

‘‘listed companies’’) that the Exchange 

has identified as being below the 

continued listing standards set forth in 

Section 802.01 of the Manual unless the 

company has previously paid in full any 

listing or annual fees due to the 

Exchange.15 If the listed company is 

below continued listing standards and 

has not paid in full all outstanding 

listing or annual fees by the plan 

submission deadline, under the 

proposal, the Exchange will 

immediately commence suspension and 

delisting procedures in accordance with 


KHAMMOND on DSK9W7S144PROD with NOTICES
6038 Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 

16See proposed amendments to Sections 802.02 

and 802.03 of the Manual; Notice at 83528. 17See proposed amendments to Sections 802.02 

and 802.03 of the Manual; Notice at 83528. 18See Notice at 83528. 19The listing fees and annual fees for all 

categories of listed securities are set forth in Section 

902.00 et seq. of the Manual. See Notice at 83528 

n.4. 20The Exchange states that the NYSE listing 

agreement includes an agreement by the listing 

applicant to ‘‘pay when due all fees associated with 

its listing of securities on the Exchange, in 

accordance with the Exchange’s rules.’’ Notice at 

83528. 21 Id. 22See id. Section 802.01D of the Manual provides 

that the Exchange may in its sole discretion subject 

a company to the procedures outlined in Sections 

802.02 and 802.03 of the Manual if the company, 

its transfer agent, or registrar, violates any of its, or 

their, listing or other agreements with the Exchange. 

In addition, Section 802.01D of the Manual 

provides that the Exchange is not limited by the 

criteria set forth in the rule and ‘‘[o]ther factors 

which may lead to a company’s delisting include 

. . . [a] breach by the company of the terms of its 

listing agreement.’’ 

23See Notice at 83528. 

24 15 U.S.C. 78s(b)(2)(B). 

25 Id. 

26 15 U.S.C. 78f(b)(5). 

27 15 U.S.C. 78f(b)(7). 

28The Commission notes that this reference to 

‘‘listing standards’’ is referring to both initial and 

continued listing standards. 

29See, e.g., Securities Exchange Act Release Nos. 

88716 (Apr. 21, 2020), 85 FR 23393 (Apr. 27, 2020) 

(SR–NASDAQ–2020–001) (Order Approving a 

Proposed Rule Change To Modify the Delisting 

Process for Securities With a Bid Price at or Below 

$0.10 and for Securities That Have Had One or 

More Reverse Stock Splits With a Cumulative Ratio 

of 250 Shares or More to One Over the Prior TwoYear Period); 88389 (Mar. 16, 2020), 85 FR 16163 

(Mar. 20, 2020) (SR–NASDAQ–2019–089) (Notice of 

Filing of Amendment No. 1 and Order Granting 

Accelerated Approval of a Proposed Rule Change, 

as Modified by Amendment No. 1, To Amend Rule 

5815 To Preclude Stay During Hearing Panel 

Review of Staff Delisting Determinations in Certain 

Circumstances). See also Securities Exchange Act 

Release No. 81856 (Oct. 11, 2017), 82 FR 48296, 

48298 (Oct. 17, 2017) (SR–NYSE–2017–31) (Notice 

of Filing of Amendment No. 1 and Order Granting 

Accelerated Approval of a Proposed Rule Change, 

as Modified by Amendment No. 1, To Amend the 

Listed Company Manual To Adopt Initial and 

Continued Listing Standards for Subscription 

Receipts) (stating that ‘‘[a]dequate standards are 

especially important given the expectations of 

investors regarding exchange trading and the 

imprimatur of listing on a particular market’’ and 

that ‘‘[o]nce a security has been approved for initial 

listing, maintenance criteria allow an exchange to 

monitor the status and trading characteristics of that 

issue . . . so that fair and orderly markets can be 

maintained’’). 

30See Sections 802.02 and 802.03 of the Manual. 

31See, e.g., Securities Exchange Act Release No. 

41502 (Jun. 9, 1999), 64 FR 32588, 32594 (Jun. 17, 

1999) (SR–NYSE–99–13). 

Section 804.00 of the Manual.16 In 

addition, the Exchange proposes to 

amend Sections 802.02 and 802.03 of 

the Manual to provide that in 

connection with the Exchange’s 

quarterly or semi-annual review of a 

plan, as applicable, the Exchange will 

immediately commence suspension and 

delisting procedures in accordance with 

Section 804.00 of the Manual with 

respect to any listed domestic company 

or listed non-U.S. company that has not 

paid any listing or annual fees that have 

become due and payable since the 

commencement of its plan period.17

The Exchange states that the process 

of reviewing and analyzing plans and 

reviewing the periodic updates with 

respect to plans is resource-intensive 

and costly for the Exchange and that, 

given the significant amount of work 

required, the Exchange believes it is 

important to ensure that companies that 

wish to have a plan accepted or 

continued by the Exchange have paid all 

outstanding annual and listing fees prior 

to acceptance of a plan or at the time of 

any required review of such plan.18 In 

addition, the Exchange states that listed 

companies are already required by 

Exchange rules to pay fees, as set forth 

in Section 902.00 et seq. of the 

Manual 19 and their listing 

agreements,20 and the proposal ‘‘would 

simply require listed companies to pay 

fees to the Exchange that were already 

due and payable.’’ 21 In addition, the 

Exchange states that it currently has the 

authority under Section 802.01D of the 

Manual to delist companies for 

violations of their agreements with the 

Exchange, including their listing 

agreements.22 The Exchange states that 

the proposal will help the Exchange to 

ensure that it has sufficient resources to 

fund its regulatory activities relating to 

the review and approval and the 

ongoing monitoring of plans submitted 

by companies that are below continued 

listing standards.23

III. Proceedings To Determine Whether 

To Approve or Disapprove SR–NYSE– 

2024–44 and Grounds for Disapproval 

Under Consideration 

The Commission is instituting 

proceedings pursuant to Section 

19(b)(2)(B) of the Exchange Act 24 to 

determine whether the proposed rule 

change should be approved or 

disapproved. Institution of such 

proceedings is appropriate at this time 

in view of the legal and policy issues 

raised by the proposed rule change. 

Institution of proceedings does not 

indicate that the Commission has 

reached any conclusions with respect to 

any of the issues involved. 

Pursuant to Section 19(b)(2)(B) of the 

Exchange Act,25 the Commission is 

providing notice of the grounds for 

disapproval under consideration. The 

Commission is instituting proceedings 

to allow for additional analysis of the 

proposed rule change’s consistency with 

the Exchange Act and, in particular, 

with Section 6(b)(5) of the Exchange 

Act, which requires, among other 

things, that the rules of a national 

securities exchange be 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’’ and 

not be ‘‘designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers;’’ 26 and with 

Section 6(b)(7) of the Exchange Act, 

which requires, among other things, that 

the rules of a national securities 

exchange ‘‘provide a fair procedure for’’, 

among other things, ‘‘the prohibition or 

limitation by the exchange of any 

person with respect to access to services 

offered by the exchange.’’ 27

The Commission has previously 

stated that the development and 

enforcement of meaningful exchange 

listing standards 28 is of critical 

importance to financial markets and the 

investing public. Among other things, 

such listing standards help ensure that 

exchange-listed companies will have 

sufficient public float, investor base, 

and trading interest to provide the depth 

and liquidity to promote fair and 

orderly markets. Meaningful listing 

standards also are important given 

investor expectations regarding the 

nature of securities that have achieved 

an exchange listing, and the role of an 

exchange in overseeing its market and 

assuring compliance with its listing 

standards.29

As discussed above, Sections 802.02 

and 802.03 of the Manual set forth 

specific procedures for listed domestic 

companies and listed non-U.S. 

companies that are identified as being 

below the Exchange’s continued listing 

criteria, including procedures for 

companies to submit a plan to regain 

compliance.30 The Commission has 

stated that such rules enhance investor 

protection by ensuring that companies 

that fail to satisfy the continued listing 

criteria are identified, reviewed, and 

then subjected to specified delisting 

procedures.31

The Exchange now proposes to amend 

Sections 802.02 and 802.03 of the 

Manual to provide that the Exchange 

will not review a compliance plan 

submitted by a listed domestic company 

or listed non-U.S. company that is 

determined to be below compliance 

with the continued listing standards set 

forth in Section 802.01 of the Manual 

unless the company has paid in full all 

outstanding listing or annual fees due to 

the Exchange, and the Exchange will 

immediately commence suspension and 

delisting procedures in accordance with 


KHAMMOND on DSK9W7S144PROD with NOTICES
Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 6039 

32See Notice at 83528. 

33See Section 802.01E of the Manual. 

34See id. Section 802.01E of the Manual also 

allows the Exchange to truncate any delinquency 

cure period or not grant any cure period on the 

basis of an analysis of all relevant factors including 

specified ones set forth in the rule. See id. 

35See id. 

36As another example, Section 802.01F of the 

Manual applies to a listed issuer that is not 

compliant with the provisions of Section 303A.14 

of the Manual (Erroneously Awarded 

Compensation) (referred to as a ‘‘clawback 

requirement delinquency’’) and provides a process 

for an issuer subject to a clawback requirement 

delinquency to come back into compliance with 

Exchange rules that is similar to the process set 

forth in Section 802.01E of the Manual described 

above. Similarly, Section 802.01F of the Manual 

does not explicitly require a company that incurs 

a clawback requirement delinquency to have paid 

all outstanding annual and listing fees prior to the 

Exchange’s undertaking to monitor such company 

or when considering whether to grant the company 

an initial or additional six-month period to cure the 

delinquency, nor does it require the Exchange to 

immediately commence suspension and delisting 

procedures with respect to such company if such 

fees are not paid in full when the Exchange is 

considering granting the initial or additional cure 

period or while the Exchange is monitoring such 

company. See Section 802.01F of the Manual. 

37See supra notes 20–22 and accompanying text. 

Section 804.00 of the Manual with 

respect to a listed company if such fees 

are not paid in full by the plan 

submission deadline. In addition, the 

Exchange proposes to amend Sections 

802.02 and 802.03 of the Manual to 

provide that in connection with the 

Exchange’s quarterly or semi-annual 

review of a plan, as applicable, the 

Exchange will immediately commence 

suspension and delisting procedures in 

accordance with Section 804.00 of the 

Manual with respect to any listed 

company that has not paid any listing or 

annual fees that have become due and 

payable since the commencement of its 

plan period. 

The Commission has concerns about 

whether the Exchange’s proposal is 

designed to promote just and equitable 

principles of trade and, in general, to 

protect investors and the public interest 

and is not designed to permit unfair 

discrimination between issuers, as 

required by Section 6(b)(5) of the 

Exchange Act. As discussed above, the 

Exchange states in support of its 

proposal that the process of reviewing 

and analyzing plans and reviewing the 

periodic updates with respect to plans 

is resource-intensive and costly for the 

Exchange and that, given the significant 

amount of work required, the Exchange 

believes it is important to ensure that 

companies that wish to have a plan 

accepted or continued by the Exchange 

have paid all outstanding annual and 

listing fees prior to acceptance of a plan 

or at the time of any required review of 

such plan.32 However, the Exchange 

does not give further detail regarding 

the resources and costs involved in 

reviewing plans under Sections 802.02 

and 802.03 of the Manual submitted by 

listed companies that fall below the 

continued listing criteria in Section 

802.01 of the Manual or for the quarterly 

or semi-annual reviews of compliance 

with these plans, including with respect 

to quarterly or semi-annual reviews that 

occur later in the process. 

Further, the Exchange’s Manual 

outlines other processes that apply to 

issuers that are not in compliance with 

certain Exchange rules pursuant to 

which an issuer that falls out of 

compliance is not eligible to follow the 

procedures in Sections 802.02 and 

802.03 of the Manual and instead may 

follow alternative procedures specific to 

the rule violation. For example, Section 

802.01E of the Manual applies to a 

listed company that incurs a late filing 

delinquency by failing to timely file 

certain reports with the Commission, 

and provides, among other things, that 

the Exchange will notify a company of 

its filing delinquency and require the 

company to contact the Exchange to 

discuss the status of the report subject 

to the filing delinquency within a 

certain time period and that, during the 

six-month period from the date of the 

filing delinquency, the Exchange will 

monitor the company and the status of 

the delinquent report and any 

subsequent reports until the filing 

delinquency is cured.33 If the company 

fails to cure the filing delinquency 

within the initial six-month cure period, 

the Exchange may, in its sole discretion, 

grant an additional six-month period to 

a company to cure the filing 

delinquency depending on the 

company’s specific circumstances.34

Section 802.01E of the Manual, 

however, does not explicitly require a 

company that incurs a late filing 

delinquency to have paid all 

outstanding annual and listing fees prior 

to the Exchange’s undertaking to 

monitor such company or when 

considering whether to grant the 

company an initial or additional sixmonth period to cure the delinquency, 

nor does it require the Exchange to 

immediately commence suspension and 

delisting procedures with respect to 

such company if such fees are not paid 

in full when the Exchange is 

considering granting the initial or 

additional cure period or while the 

Exchange is monitoring such 

company.35 The Exchange has not 

addressed how the Exchange’s review of 

compliance plans under Sections 802.02 

and 802.03 of the Manual is more 

resource intensive and costly for the 

Exchange than other processes set forth 

in the Manual applicable to issuers who 

are violating Exchange rules and are 

working to come back into compliance, 

such as, for example, the process set 

forth in Section 802.01E of the Manual 

for delinquent filers.36 As a result, the 

proposal raises questions as to whether 

it is consistent with the provisions of 

Section 6(b)(5) of the Exchange Act that, 

among other things, require that the 

rules of the Exchange not be designed to 

permit unfair discrimination between 

issuers. 

Similarly, the Exchange has not 

addressed or adequately justified why it 

is proposing to suspend and delist only 

companies subject to Sections 802.02 

and 802.03 of the Manual that have not 

paid outstanding fees by the plan 

submission deadline, rather than 

proposing a provision to suspend and 

delist any listed company that is 

delinquent in paying its outstanding 

fees. The Exchange has not adequately 

justified why it is treating issuers 

subject to Sections 802.02 and 802.03 of 

the Manual different from other listed 

issuers. 

Furthermore, as discussed above, the 

Exchange states that it has the authority 

and discretion under its current rules to 

immediately suspend and delist a 

company that has not paid required fees 

when due.37 The Exchange has not 

sufficiently explained why its proposal 

to immediately suspend and delist 

listed companies subject to Sections 

802.02 and 802.03 of the Manual that 

have failed to pay all outstanding fees 

by the plan submission deadline is 

designed to protect investors and the 

public interest and not designed to 

permit unfair discrimination between 

issuers, consistent with Section 6(b)(5) 

of the Exchange Act, given that the 

Exchange already has the discretion to 

suspend and delist such a company 

under its current rules. 

In addition, the Commission has 

concerns about whether the Exchange’s 

proposal provides for a fair procedure 

for the prohibition or limitation by the 

Exchange of any person with respect to 

access to services offered, as required by 

Section 6(b)(7) of the Exchange Act. The 

Exchange’s proposal would require the 

Exchange to immediately suspend and 

delist a company that already has a plan 

in place with the Exchange pursuant to 

Section 802.02 or 802.03 of the Manual, 

if, at its quarterly or semi-annual 

review, as applicable, the company has 

not paid any listing or annual fees that 

have become due and payable since the 

commencement of its plan period. It is 

unclear from the proposal whether, in 

such a situation, the listed company 


KHAMMOND on DSK9W7S144PROD with NOTICES
6040 Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 

38 15 U.S.C. 78f(b)(5) and (7). 

39 15 U.S.C. 78s(b)(2)(B). 

40 15 U.S.C. 78f(b)(5) and (b)(7). 

41 17 CFR 240.19b–4. 

42Section 19(b)(2) of the Exchange Act, as 

amended by the Securities Acts Amendments of 

1975, Public Law 94–29 (June 4, 1975), grants to the 

Commission flexibility to determine what type of 

proceeding—either oral or notice and opportunity 

for written comments—is appropriate for 

consideration of a particular proposal by a selfregulatory organization. See Securities Acts 

Amendments of 1975, Senate Comm. on Banking, 

Housing & Urban Affairs, S. Rep. No. 75, 94th 

Cong., 1st Sess. 30 (1975). 43 17 CFR 200.30–3(a)(57). 

would have prior notice regarding the 

suspension and delisting and/or a 

period to pay any unpaid fees prior to 

such suspension and delisting. For 

example, it is unclear if immediate 

suspension and delisting would occur 

even if the fees became due only one 

day prior to a quarterly or semi-annual 

review. 

As a result, the Commission believes 

there are questions as to whether the 

proposal is consistent with Sections 

6(b)(5) and 6(b)(7) of the Exchange 

Act.38 For this reason, it is appropriate 

to institute proceedings pursuant to 

Section 19(b)(2)(B) of the Exchange 

Act 39 to determine whether the 

proposal should be approved or 

disapproved. 

IV. Procedure: Request for Written 

Comments 

The Commission requests that 

interested persons provide written 

submissions of their data, views, and 

arguments with respect to the issues 

identified above, as well as any other 

concerns they may have with the 

proposal. In particular, the Commission 

invites the written views of interested 

persons concerning whether the 

proposed rule change is consistent with 

Sections 6(b)(5) and 6(b)(7) of the 

Exchange Act 40 or any other provision 

of the Exchange Act, or the rules and 

regulations thereunder. Although there 

do not appear to be any issues relevant 

to approval or disapproval that would 

be facilitated by an oral presentation of 

data, views, and arguments, the 

Commission will consider, pursuant to 

Rule 19b–4 under the Exchange Act,41

any request for an opportunity to make 

an oral presentation.42

Interested persons are invited to 

submit written data, views, and 

arguments regarding whether the 

proposed rule change should be 

approved or disapproved by February 7, 

2025. Any person who wishes to file a 

rebuttal to any other person’s 

submission must file that rebuttal by 

February 21, 2025. The Commission 

asks that commenters address the 

sufficiency of the Exchange’s statements 

in support of the proposal, in addition 

to any other comments they may wish 

to submit about the proposed rule 

change. 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– 

NYSE–2024–44 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–NYSE–2024–44. 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–NYSE–2024–44 and should be 

submitted on or before February 7, 2025. 

Rebuttal comments should be submitted 

by February 21, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.43

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01085 Filed 1–16–25; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration # 20955; TEXAS 

Disaster Number TX–20041 Declaration of 

Economic Injury] 

Administrative Declaration of an 

Economic Injury Disaster for the State 

of Texas 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a notice of an 

Economic Injury Disaster Loan (EIDL) 

declaration for the State of Texas dated 

January 13, 2025. 

Incident: Laredo Boil Water Notice 

due to E. Coli Contamination. 

DATES: Issued on January 13, 2025. 

Incident Period: October 10, 2024 

through October 21, 2024. 

Economic Injury (EIDL) Loan 

Application Deadline Date: October 14, 

2025. 

ADDRESSES: Visit the MySBA Loan 

Portal at https://lending.sba.gov to 

apply for a disaster assistance loan. 

FOR FURTHER INFORMATION CONTACT: 

Alan Escobar, Office of Disaster 

Recovery & Resilience, U.S. Small 

Business Administration, 409 3rd Street 

SW, Suite 6050, Washington, DC 20416, 

(202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

Administrator’s EIDL declaration, 

applications for disaster loans may be 

submitted online using the MySBA 

Loan Portal https://lending.sba.gov or 

other locally announced locations. 

Please contact the SBA disaster 

assistance customer service center by 

email at disastercustomerservice@

sba.gov or by phone at 1–800–659–2955 

for further assistance. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Webb. 

Contiguous Counties: Texas 

Dimmit, Duval, Jim Hogg, La Salle, 

Maverick, McMullen, Zapata. 

The Interest Rates are: 


KHAMMOND on DSK9W7S144PROD with NOTICES