Document ID: SEC-2022-0053-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange, LLC
Posted Date: 2022-01-13T05:00Z

[Federal Register Volume 87, Number 9 (Thursday, January 13, 2022)]
[Notices]
[Pages 2189-2190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00500]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93934; File No. SR-NYSE-2020-96]

New York Stock Exchange LLC; Order Granting Petition for Review 
and Scheduling Filing of Statements Regarding an Order Disapproving 
Proposed Rule Change To Amend Its Rules Establishing Maximum Fee Rates 
To Be Charged by Member Organizations for Forwarding Proxy and Other 
Materials to Beneficial Owners

January 7, 2022.
    This matter comes before the Securities and Exchange Commission 
(``Commission'') on petition to review the disapproval, pursuant to 
delegated authority, of the New York Stock Exchange LLC (``NYSE'' or 
``Exchange'') proposed rule change (File No. SR-NYSE-2020-96) to amend 
its rules establishing maximum fee rates to be charged by member 
organizations for forwarding proxy and other materials to beneficial 
owners.
    On December 15, 2020, the Commission issued a notice of filing of 
the proposed rule change with the Commission pursuant to Section 
19(b)(1) of the Securities Exchange Act

[[Page 2190]]

of 1934 (``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder.\3\ On 
February 1, 2021, pursuant to Section 19(b)(2) of the Exchange Act,\4\ 
a longer time period was designated within which to act on the proposed 
rule change.\5\ On March 18, 2021, proceedings were instituted under 
Section 19(b)(2)(B) of the Exchange Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ On June 11, 2021, 
pursuant to Section 19(b)(2) of the Exchange Act,\8\ a longer time 
period was designated for Commission action on the proceedings to 
determine whether to approve or disapprove the proposed rule change.\9\ 
On August 18, 2021, after consideration of the record for the proposed 
rule change, the Division of Trading and Markets (``Division''), 
pursuant to delegated authority,\10\ issued an order disapproving the 
proposed rule change (``Disapproval Order'').\11\
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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. 90677 (December 15, 
2020), 85 FR 83119 (December 21, 2020).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 91025 (February 1, 
2021), 86 FR 8420 (February 5, 2021).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 91359 (March 18, 
2021), 86 FR 15734 (March 24, 2021).
    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Securities Exchange Act Release No. 92154 (June 11, 
2021), 86 FR 32301 (June 17, 2021).
    \10\ 17 CFR 200.30-3(a)(12).
    \11\ See Securities Exchange Act Release No. 92700 (August 18, 
2021), 86 FR 47351 (August 24, 2021).
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    Pursuant to Rule 430 of the Commission's Rules of Practice,\12\ on 
August 25, 2021, the Exchange filed a notice of intention to petition 
for review of the Disapproval Order, and on September 1, 2021, the 
Exchange filed a petition for review of the Disapproval Order. Pursuant 
to Rule 431(e) of the Commission Rules of Practice,\13\ a notice of 
intention to petition for review results in an automatic stay of the 
action by delegated authority.
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    \12\ 17 CFR 201.430.
    \13\ 17 CFR 201.431(e).
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    Pursuant to Rule 431 of the Commission's Rules of Practice,\14\ the 
Exchange's petition for review of the Disapproval Order is granted. 
Further, the Commission hereby establishes that any party to the action 
or other person may file a written statement in support of or in 
opposition to the Disapproval Order on or before February 3, 2022.
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    \14\ 17 CFR 201.431.
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    For the reasons stated above, it is hereby:
    Ordered that the Exchange's petition for review of the Division's 
action to disapprove the proposed rule change by delegated authority is 
granted; and
    It is further ordered that any party or other person may file a 
statement in support of or in opposition to the action made pursuant to 
delegated authority on or before February 3, 2022.
    It is further ordered that the automatic stay of delegated action 
pursuant to Commission Rule of Practice 431(e) is hereby discontinued.
    The order disapproving the proposed rule change (File No. SR-NYSE-
2020-96) shall remain in effect.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00500 Filed 1-12-22; 8:45 am]
BILLING CODE 8011-01-P