Document ID: SEC-2013-0673-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Amending NYSE Rules 451 and 465, and the Related Provisions of Section 402.10 of the NYSE Listed Company Manual, Which Provide a Schedule for the Reimbursement of Expenses by Issuers to NYSE Member Organizations for the Processing of Proxy Materials
Posted Date: 2013-04-10T04:00Z

[Federal Register Volume 78, Number 69 (Wednesday, April 10, 2013)]
[Notices]
[Pages 21481-21482]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-08308]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69286; File No. SR-NYSE-2013-07]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change Amending NYSE Rules 451 and 465, and the Related 
Provisions of Section 402.10 of the NYSE Listed Company Manual, Which 
Provide a Schedule for the Reimbursement of Expenses by Issuers to NYSE 
Member Organizations for the Processing of Proxy Materials and Other 
Issuer Communications Provided To Investors Holding Securities in 
Street Name, and To Establish a Five-Year Fee for the Development of an 
Enhanced Brokers Internet Platform

April 3, 2013.
    On February 1, 2013, New York Stock Exchange LLC (``NYSE'') 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 fees 
set forth in NYSE Rules 451 and 465, and the related provisions of 
Section 402.10 of the NYSE Listed Company Manual, for the reimbursement 
of expenses by issuers to NYSE member organizations for the processing 
of proxy materials and other issuer communications provided to 
investors holding securities in street name, and to establish a five-
year fee for the development of an enhanced brokers internet platform. 
The proposed rule change was published for comment in the Federal 
Register on February 22, 2013.\3\ The Commission received 24 comments 
on the proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 68936 (February 15, 
2013), 78 FR 12381.
    \4\ See letters to Elizabeth M. Murphy, Secretary, Commission 
from Charles V. Rossi, President, The Securities Transfer 
Association, dated February 20, 2013 and March 4, 2013; Karen V. 
Danielson, President, Shareholder Services Association, dated March 
4, 2013; Jeanne M. Shafer, dated March 6, 2013; David W. Lovatt, 
dated March 6, 2013; Stephen Norman, Chair, The Independent Steering 
Committee of Broadridge, dated March 7, 2013; Jeffrey D. Morgan, 
President & CEO, National Investor Relations Institute, dated March 
7, 2013; Kenneth Bertsch, President and CEO, Society of Corporate 
Secretaries & Governance Professionals, dated March 7, 2013; Niels 
Holch, Executive Director, Shareholder Communications Coalition, 
dated March 12, 2013; Geoffrey M. Dugan, General Counsel, iStar 
Financial Inc., dated March 13, 2013; Paul E. Martin, Chief 
Financial Officer, Perficient, Inc., dated March 13, 2013; John 
Harrington, President, Harrington Investments, Inc., dated March 14, 
2013; James McRitchie, Shareowner, Corporate Governance, dated March 
14, 2013; Clare A. Kretzman, General Counsel, Gartner, Inc., dated 
March 15, 2013; Tom Quaadman, Vice President, Center for Capital 
Markets Competitiveness, dated March 15, 2013; Dennis E. Nixon, 
President, International Bancshares Corporation, dated March 15, 
2013; Argus I. Cunningham, Chief Executive Officer, Sharegate Inc., 
dated March 15, 2013; Laura Berry, Executive Director, Interfaith 
Center on Corporate Responsibility, dated March 15, 2013; Dorothy M. 
Donohue, Deputy General Counsel--Securities Regulation, Investment 
Company Institute, dated March 15, 2013; Charles V. Callan, Senior 
Vice President--Regulatory Affairs, Broadridge Financial Solutions, 
Inc., dated March 15, 2013; Brad Philips, Treasurer, Darling 
International Inc., dated March 15, 2013; John Endean, President, 
American Business Conference, dated March 18, 2013; Tom Price, 
Managing Director, The Securities Industry and Financial Markets 
Association, dated March 18, 2013; and Michael S. O'Brien, Vice 
President--Corporate Governance Officer, BNY Mellon, March 28, 2013.

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

[[Page 21482]]

    Section 19(b)(2) of the Act \5\ 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 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 for this filing is April 8, 2013.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. 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 
Exchange's proposal, as described above, and the comments received.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the 
Commission designates May 23, 2013, as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change (File No. SR-
NYSE-2013-07).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08308 Filed 4-9-13; 8:45 am]
BILLING CODE 8011-01-P