Document ID: SEC-2021-1178-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2021-08-31T04:00Z

[Federal Register Volume 86, Number 166 (Tuesday, August 31, 2021)]
[Notices]
[Pages 48780-48781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18673]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92751; File No. SR-NASDAQ-2021-054]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change To Modify Listing Rule IM-5101-2 To Permit an 
Acquisition Company To Contribute a Portion of Its Deposit Account to 
Another Entity in a Spin-off or Similar Corporate Transaction

August 25, 2021.
    On June 24, 2021, 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 modify 
Listing Rule IM-5101-2 to permit an acquisition company to contribute a 
portion of the amount held in its deposit account to a deposit account 
of a new acquisition company in a spin-off or similar corporate 
transaction. The proposed rule change was published for comment in the 
Federal Register on July 13, 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. 92344 (July 7, 
2021), 86 FR 36841.
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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 August 27, 2021.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. 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, pursuant to Section 19(b)(2) of the 
Act,\5\ the Commission designates October 11, 2021 as the date

[[Page 48781]]

by which the Commission shall either approve or disapprove, or 
institute proceedings to determine whether to disapprove, the proposed 
rule change (File No. SR-NASDAQ-2021-054).
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    \5\ Id.
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-18673 Filed 8-30-21; 8:45 am]
BILLING CODE 8011-01-P