Document ID: SEC-2021-0203-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2021-02-10T05:00Z

[Federal Register Volume 86, Number 26 (Wednesday, February 10, 2021)]
[Notices]
[Pages 8937-8938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02707]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91056; File No. SR-NASDAQ-2020-028]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Withdrawal of a Proposed Rule Change, as Modified by 
Amendment No. 1, To Amend IM-5101-1 (Use of Discretionary Authority) To 
Apply Additional or More Stringent Criteria to an Applicant or Listed 
Company Based on Considerations Related to the Company's Auditor or 
When a Company's Business Is Principally Administered in a Jurisdiction 
That Is a Restrictive Market

February 4, 2021.
    On May 19, 2020, The Nasdaq Stock Market LLC (``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 IM-
5101-1 (Use of Discretionary Authority) to deny listing or continued 
listing or to apply additional and more stringent criteria to an 
applicant or listed company based on considerations related to the 
company's auditor or when a company's business is principally 
administered in a jurisdiction that has secrecy laws, blocking 
statutes, national security laws, or other laws or regulations 
restricting access to information by regulators of U.S.-listed 
companies in such jurisdiction. The proposed rule change was published 
for comment in the Federal Register on June 8, 2020.\3\ On July 20, 
2020, 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

[[Page 8938]]

rule change.\5\ On September 2, 2020, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Act \6\ to determine 
whether to approve or disapprove the proposed rule change.\7\ On 
November 6, 2020, the Exchange filed Amendment No. 1 to the proposed 
rule change, which replaced and superseded the proposed rule change as 
originally filed.\8\ On December 2, 2020, the Commission extended the 
period for consideration of the proposed rule change to February 3, 
2021.\9\ On February 1, 2021, the Exchange withdrew the proposed rule 
change (SR-NASDAQ-2020-028).
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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. 88987 (June 2, 
2020), 85 FR 34774. Comments on the proposed rule change can be 
found on the Commission's website at: https://www.sec.gov/comments/sr-nasdaq-2020-028/srnasdaq2020028.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 89344, 85 FR 44951 
(July 24, 2020). The Commission designated September 6, 2020 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. 89739, 85 FR 55708 
(September 9, 2020).
    \8\ Amendment No. 1 is available at https://www.sec.gov/comments/sr-nasdaq-2020-028/srnasdaq2020028.htm.
    \9\ See Securities Exchange Act Release No. 90549, 85 FR 79048 
(December 8, 2020).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02707 Filed 2-9-21; 8:45 am]
BILLING CODE 8011-01-P