Document ID: SEC-2021-0163-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange, LLC
Posted Date: 2021-02-04T05:00Z

[Federal Register Volume 86, Number 22 (Thursday, February 4, 2021)]
[Notices]
[Page 8246]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02264]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91011; 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 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

January 29, 2021.
    On November 30, 2020, New York Stock Exchange 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 amend its rules 
to prohibit member organizations from seeking reimbursement from 
issuers for forwarding proxy and other materials to beneficial owners 
who received shares of a security from their broker at no cost or at a 
price substantially less than the market price in connection with a 
promotion by the broker. The proposed rule change was published for 
comment in the Federal Register on December 18, 2020.\3\
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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. 90653 (December 14, 
2020), 85 FR 82539. Certain comments filed in response to File No. 
SR-NYSE-2020-96 by Paul Conn, President, Global Capital Markets, 
Computershare, dated January 11, 2021, and Niels Holch, Executive 
Director, Shareholder Communications Coalition, dated January 20, 
2021, also address this proposed rule change. These comments on the 
proposed rule change are available at: https://www.sec.gov/comments/sr-nyse-2020-96/srnyse202096.htm.
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    Section 19(b)(2) of the Act \4\ 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 after publication of the notice for this proposed rule change 
is February 1, 2021. 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 proposal so that it has 
sufficient time to consider the proposed rule change and the comments 
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of 
the Act,\5\ designates March 18, 2021, 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-2020-98).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02264 Filed 2-3-21; 8:45 am]
BILLING CODE 8011-01-P