Document ID: SEC-2021-0300-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2021-03-03T05:00Z

[Federal Register Volume 86, Number 40 (Wednesday, March 3, 2021)]
[Notices]
[Page 12503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04310]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91212; File No. SR-NASDAQ-2020-100]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Modify the Quorum Requirement for Non-U.S. 
Companies Under Certain Limited Circumstances

February 25, 2021.
    On December 31, 2020, the Nasdaq Stock Market LLC 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 modify the 
quorum requirement applicable to a non-U.S. company where such 
company's home country law is in direct conflict with Nasdaq's quorum 
requirement. The proposed rule change was published for comment in the 
Federal Register on January 15, 2021.\3\ The Commission has received no 
comment letters on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 90883 (January 11, 
2021), 86 FR 4158.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ provides that, within 45 days of 
the publication of notice of the filing of a propose 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 published 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 the proposed rule change 
is March 1, 2021. The Commission is extending this 45-day period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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, pursuant to Section 19(b)(2) of the Act,\5\ the Commission 
designates April 15, 2021, as the date by which the Commission shall 
either approve or disapprove, or institute proceedings to determine 
whether to approve or disapprove, the proposed rule change (File No. 
SR-NASDAQ-2020-100).
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-04310 Filed 3-2-21; 8:45 am]
BILLING CODE 8011-01-P