Document ID: SEC-2011-1442-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Amex LLC
Posted Date: 2011-09-27T04:00Z

[Federal Register Volume 76, Number 187 (Tuesday, September 27, 2011)]
[Notices]
[Pages 59763-59764]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-24726]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65369; File No. SR-NYSEAmex-2011-55]

Self-Regulatory Organizations; NYSE Amex LLC; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change Amending Section 101 of the NYSE Amex Company Guide To Adopt 
Additional Listing Requirements for Companies Applying To List After 
Consummation of a ``Reverse Merger'' With a Shell Company

September 21, 2011.
    On July 22, 2011, NYSE Amex LLC (``NYSE Amex'' or the ``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 
adopt additional listing requirements for companies applying to list 
after consummation of a ``reverse merger'' with a shell company. The 
proposed rule change was published for comment in the Federal Register 
on August 10, 2011.\3\ The Commission received two comment letters on 
the proposal.\4\
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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. 65033 (August 4, 
2011), 76 FR 49522.
    \4\ See Letter from David Feldman, Partner, Richardson Patel LLP 
dated August 29, 2011 and letter from Richard Rappaport, Chief 
Executive Officer, WestPark Capital, Inc. to John Carey, Chief 
Counsel, NYSE Regulation Inc. and NYSE Amex LLC dated August 31, 
2011.
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    Section 19(b)(2) of the Act \5\ 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

[[Page 59764]]

disapproved. The 45th day for this filing is September 24, 2011.
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    \5\ 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 that it is 
appropriate to designate a longer period to take action on the proposed 
rule change so that it has sufficient time to consider the Exchange's 
proposal, which would establish additional listing requirements for 
companies applying to list after consummation of a ``reverse merger'' 
with a shell company, and to consider the comment letters that have 
been submitted in connection with the proposed rule change.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the 
Commission designates November 8, 2011 as the date by which the 
Commission should either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File Number SR-NYSEAmex-2011-55).
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-24726 Filed 9-26-11; 8:45 am]
BILLING CODE 8011-01-P