Document ID: SEC-2018-1868-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange, LLC
Posted Date: 2018-12-06T05:00Z

[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)]
[Notices]
[Page 62942]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26397]

[[Page 62942]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84680; File No. SR-NYSE-2018-46]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Amend the Listed Company Manual for Acquisition 
Companies To Reduce the Continued Listing Standards for Public Holders 
From 300 to 100 and To Enable the Exchange To Exercise Discretion To 
Allow Acquisition Companies a Reasonable Time Period Following a 
Business Combination To Demonstrate Compliance With the Applicable 
Quantitative Listing Standards

November 29, 2018.
    On October 1, 2018, New York Stock Exchange LLC (``NYSE'' or 
``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 the Listed Company Manual for Acquisition 
Companies (``ACs'') to reduce the continued listing standards for 
public holders from 300 to 100 and to enable the Exchange to exercise 
discretion to allow ACs a reasonable time period following a business 
combination to demonstration compliance with the applicable 
quantitative listing standards. The proposed rule change was published 
for comment in the Federal Register on October 18, 2018.\3\ The 
Commission received one comment 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. 84420 (October 12, 
2018), 83 FR 52854 (October 18, 2018) (``Notice'').
    \4\ See Letter to Brent J. Fields, Secretary, Commission, from 
Jeffrey P. Mahoney, General Counsel, Council of Institutional 
Investors, dated November 8, 2018 (``CII Letter'').
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
notice publication 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 December 2, 2018. The Commission is extending this 45-day time 
period.
    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 proposal and the comment letter. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates January 16, 2019, 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-NYSE-2018-46).
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    \5\ 15 U.S.C. 78s(b)(2).
    \6\ Id.
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26397 Filed 12-4-18; 8:45 am]
 BILLING CODE 8011-01-P