Document ID: SEC-2017-0806-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange LLC
Posted Date: 2017-05-18T04:00Z

[Federal Register Volume 82, Number 95 (Thursday, May 18, 2017)]
[Notices]
[Page 22866]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10017]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80670; File No. SR-NYSE-2017-12]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on a 
Proposed Rule Change To Amend Section 102.01B of the NYSE Listed 
Company Manual To Modify the Requirements That Apply to Companies That 
List Without a Prior Exchange Act Registration and That Are Not Listing 
in Connection With an Underwritten Initial Public Offering

May 12, 2017.
    On March 13, 2017, the New York Stock Exchange LLC (``NYSE'' 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 amend Section 102.01B of the Manual to modify 
the provisions relating to the qualification of companies listing 
without a prior Exchange Act registration and an underwritten offering 
to permit the listing of such companies immediately upon effectiveness 
of an Exchange Act registration statement without a concurrent public 
offering registered under the Securities Act of 1933 provided the 
company meets all other listing requirements. The proposal also would 
eliminate the requirement to have a private placement market trading 
price if there is a valuation from an independent third-party of $250 
million in market value of publicly-held shares. The proposed rule 
change was published for comment in the Federal Register on March 31, 
2017.\3\ The Commission received no comments 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. 34-80313 (March 27, 
2017), 82 FR 16082 (March 31, 2017) (``Notice'').
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    Section 19(b)(2) of the Act \4\ provides that, within 45 days of 
the publication of the 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 approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether the proposed rule change should be disapproved. 
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 that it is 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 June 29, 2017, as the date by which the Commission 
should approve, disapprove, or institute proceedings to determine 
whether to disapprove the proposed rule change (File No. SR-NYSE-2017-
12).
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    \5\ Id.
    \6\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10017 Filed 5-17-17; 8:45 am]
 BILLING CODE 8011-01-P