Document ID: SEC-2020-1157-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market LLC
Posted Date: 2020-07-22T04:00Z

[Federal Register Volume 85, Number 141 (Wednesday, July 22, 2020)]
[Notices]
[Page 44333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15791]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89331; File No. SR-NASDAQ-2019-091]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Withdrawal of Proposed Rule Change To Adopt a New Rule 
Concerning Nasdaq's Ability To Request Information From a Listed 
Company Regarding the Number of Unrestricted Publicly Held Shares in 
Certain Circumstances and Halt Trading in the Company's Security Upon 
the Request, and in Certain Circumstances Request a Plan To Increase 
the Number of Unrestricted Publicly Held Shares To an Amount That Is 
Higher Than the Applicable Publicly Held Shares Requirement

July 16, 2020.
    On November 22, 2019, The Nasdaq Stock Market LLC (``Nasdaq'' or 
the ``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to adopt a rule specifying 
Nasdaq's ability to request information from a listed company regarding 
the number of unrestricted publicly held shares when Nasdaq observes 
unusual trading characteristics in a security or a company announces an 
event that may cause a contracting in the number of unrestricted 
publicly held shares, halt trading in such company's securities upon 
such a request, and potentially request a listed company to increase 
its number of unrestricted publicly held shares.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on December 12, 2019.\3\ On January 24, 2020, pursuant to 
Section 19(b(2) of the Exchange Act,\4\ the Commission designated a 
longer period within which to either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to disapprove the proposed rule change.\5\ On March 
4, 2020, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Exchange Act \6\ to determine whether to approve or 
disapprove the proposed rule change.\7\ On June 5, 2020, the Commission 
designated a longer period for Commission action on the proposed rule 
change.\8\ On July 8, 2020, the Exchange withdrew the proposed rule 
change (SR-NASDAQ-2019-091).
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    \3\ See Securities Exchange Act Release No. 87677 (December 6, 
2019), 84 FR 67974 (December 12, 2019). Comment on the proposed rule 
change can be found at: https://www.sec.gov/comments/sr-nasdaq-2019-091/srnasdaq2019091.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 88028 (January 24, 
2020), 85 FR 5500 (January 30, 2020).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 88315, 85 FR 13954 
(March 10, 2020).
    \8\ See Securities Exchange Act Release No. 89206, 85 FR 35687 
(June 11, 2020). The Commission designated August 8, 2020, as the 
date by which it should approve or disapprove the proposed rule 
change.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-15791 Filed 7-21-20; 8:45 am]
BILLING CODE 8011-01-P