Document ID: SEC-2020-1760-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2020-11-05T05:00Z

[Federal Register Volume 85, Number 215 (Thursday, November 5, 2020)]
[Notices]
[Pages 70701-70702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-24497]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90297; File No. SR-NYSEArca-2020-54]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend NYSE Arca Rule 5.3-E To Exempt Registered Investment 
Companies that List Certain Categories of the Securities Defined as 
Derivative and Special Purpose Securities Under NYSE Arca Rules From 
Having To Obtain Shareholder Approval Prior to the Issuance of 
Securities in Connection With Certain Acquisitions of the Stock or 
Assets of an Affiliated Company

October 30, 2020.
    On August 28, 2020, NYSE Arca, Inc. 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 NYSE Arca Rule 5.3-E 
(Corporate Governance and Disclosure Policies) to exempt certain 
categories of derivative and special purpose securities from the 
requirement to obtain shareholder approval prior to the issuance of 
securities in connection with certain acquisitions of the stock or 
assets of another company. The

[[Page 70702]]

proposed rule change was published for comment in the Federal Register 
on September 17, 2020.\3\ The Commission has received no comment 
letters on the proposal.
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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. 89834 (September 11, 
2020), 85 FR 58090.
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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 shall 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 November 1, 2020. 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 that it is 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 December 16, 2020, 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 
Number SR-NYSEArca-2020-54).
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    \5\ Id.

    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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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2020-24497 Filed 11-4-20; 8:45 am]
BILLING CODE 8011-01-P