Document ID: SEC-2021-0857-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange, LLC
Posted Date: 2021-06-17T04:00Z

[Federal Register Volume 86, Number 115 (Thursday, June 17, 2021)]
[Notices]
[Pages 32302-32303]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12752]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92155; File No. SR-NYSE-2020-98)]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change, as Modified by Amendment No. 2, To Amend Its Rules To 
Prohibit Member Organizations From Seeking Reimbursement, in Certain 
Circumstances, From Issuers for Forwarding Proxy and Other Materials to 
Beneficial Owners

June 11, 2021.
    On November 30, 2020, New York Stock Exchange LLC (``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 its rules to prohibit member organizations from seeking 
reimbursement, in certain circumstances, from issuers for forwarding 
proxy and other materials to beneficial owners. The proposed rule 
change was published for comment in the Federal Register on December 
18, 2020.\3\ On January 29, 2021, pursuant to Section 19(b)(2) of the 
Act,\4\ the Commission designated a longer period within which to 
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 17, 2021, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Act \6\ to determine 
whether to approve or disapprove the proposed rule change.\7\ On April 
6, 2021, the Exchange filed Amendment No. 1 to the proposed rule 
change; the Exchange withdrew that amendment on April 16, 2021. On 
April 16, 2021, the Exchange filed Amendment No. 2 to the proposed rule 
change, which superseded the proposed rule change as originally filed. 
The proposed rule change, as modified by Amendment No. 2, was published 
for comment in the Federal Register on April 29, 2021.\8\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 90653 (December 14, 
2020), 85 FR 82539 (December 18, 2020) (``Original Notice''). 
Comments received on the proposal are available on the Commission's 
website at: https://www.sec.gov/comments/sr-nyse-2020-98/srnyse202098.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 91011 (January 29, 
2021), 86 FR 8246 (February 4, 2021).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 91343 (March 17, 
2021), 86 FR 15536 (March 23, 2021).
    \8\ See Securities Exchange Act Release No. 91663 (April 23, 
2021), 86 FR 22725 (April 29, 2021).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \9\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change. 
The Commission may extend the period for issuing an order approving or 
disapproving the proposed rule change, however, by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. The proposed rule 
change was published for comment in the Federal Register on December 
18, 2020.\10\ The 180th day after publication of the Original Notice is 
June 16, 2021. The Commission is extending the time period for 
approving or disapproving the proposed rule change for an additional 60 
days.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 3.
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change, as modified by Amendment No. 2, and the comments 
that have been submitted in connection therewith. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
August 15, 2021, as the date by which the

[[Page 32303]]

Commission shall either approve or disapprove the proposed rule change 
(File Number SR-NYSE-2020-98), as modified by Amendment No. 2.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-12752 Filed 6-16-21; 8:45 am]
BILLING CODE 8011-01-P