Document ID: SEC-2020-1337-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2020-08-21T04:00Z

[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Page 51817]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18345]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89584; File No. SR-NYSEArc-2020-56]

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 Rules 5.2-E(j)(3), 5.2-E(j)(8), 5.5-E(g)(2), 
8.600-E, and 8.900-E

August 17, 2020.
    On June 18, 2020, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') 
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 Rules 5.2-E(j)(3) (Investment Company Units), 5.2-
E(j)(8) (Exchange-Traded Fund Shares), 5.5-E(g)(2), 8.600-E (Managed 
Fund Shares), and 8.900-E (Managed Portfolio Shares) to (1) remove the 
listing requirement that, following the initial twelve-month period 
after commencement of trading of a series of Investment Company Units, 
Exchange-Traded Fund Shares, Managed Fund Shares, and Managed Portfolio 
Shares, respectively, on the Exchange that the applicable fund has at 
least 50 beneficial holders, and (2) require that a series of 
Investment Company Units, Exchange-Traded Fund Shares, Managed Fund 
Shares, and Managed Portfolio Shares, respectively, have at least one 
creation unit outstanding on an initial and continued listing basis. 
The proposed rule change was published for comment in the Federal 
Register on July 7, 2020.\3\ The Commission has received no comment 
letters on the proposed rule change.
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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. 89197 (June 30, 
2020), 85 FR 40720.
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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 will 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 21, 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 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, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
October 5, 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 No. SR-NYSEArca-2020-56).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
J. Matthew DeLesDernier,
Assistant Secretary.

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    \6\ 17 CFR 200.30-3(a)(31).
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[FR Doc. 2020-18345 Filed 8-20-20; 8:45 am]
BILLING CODE 8011-01-P