Justia Agencies And Commissions Securities And Exchange Commission Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend the Requirements of Section 102.06 of the NYSE Listed Company Manual To Allow an Acquisition Company To Contribute a Portion of Its Trust Account to a New Acquisition Company and Spin-Off the New Acquisition Company to Its Shareholders, 55671-55672 [2021-21772]

Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend the Requirements of Section 102.06 of the NYSE Listed Company Manual To Allow an Acquisition Company To Contribute a Portion of Its Trust Account to a New Acquisition Company and Spin-Off the New Acquisition Company to Its Shareholders, 55671-55672 [2021-21772]

Download as PDF Federal Register / Vol. 86, No. 191 / Wednesday, October 6, 2021 / Notices will promote fair and orderly markets and protect investors and the public interest. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act because the proposal would ensure the continued, uninterrupted operation of a consistent mechanism to halt trading across the U.S. markets while the Commission reviews the Exchange’s proposed rule change to make the Pilot Rules permanent. Further, the Exchange understands that FINRA and other national securities exchanges will file proposals to extend their rules regarding the market-wide circuit breaker pilot. Thus, the proposed rule change will help to ensure consistency across market centers without implicating any competitive issues. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. jspears on DSK121TN23PROD with NOTICES1 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 19 and Rule 19b–4(f)(6) thereunder.20 Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b–4(f)(6)(iii) thereunder. A proposed rule change filed under Rule 19b–4(f)(6) 21 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),22 the Commission may designate a shorter time if such action is consistent with the protection 19 15 U.S.C. 78s(b)(3)(A)(iii). 20 17 CFR 240.19b–4(f)(6). 21 17 CFR 240.19b–4(f)(6). 22 17 CFR 240.19b–4(f)(6)(iii). VerDate Sep<11>2014 20:38 Oct 05, 2021 Jkt 256001 of investors and the public interest. The Exchange asked that the Commission waive the 30-day operative delay so that the proposal may become operative immediately upon filing. Extending the pilot Rules’ effectiveness to the close of business on March 18, 2022 will extend the protections provided by the Pilot Rules, which would otherwise expire in less than 30 days. Waiver of the operative delay would therefore permit uninterrupted continuation of the MWCB pilot while the Commission reviews the Exchange’s proposed rule change to make the Pilot Rules permanent. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change as operative upon filing.23 At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 24 of the Act to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSENAT–2021–19 on the subject line. Paper Comments • Send paper comments in triplicate to: Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSENAT–2021–19. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use 55671 only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NYSENAT–2021–19 and should be submitted on or before October 27, 2021. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–21864 Filed 10–5–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93222; File No. SR–NYSE– 2021–42] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend the Requirements of Section 102.06 of the NYSE Listed Company Manual To Allow an Acquisition Company To Contribute a Portion of Its Trust Account to a New Acquisition Company and Spin-Off the New Acquisition Company to Its Shareholders September 30, 2021. 23 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 24 15 U.S.C. 78s(b)(2)(B). PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 On August 23, 2021, New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with the Securities and Exchange 25 17 E:\FR\FM\06OCN1.SGM CFR 200.30–3(a)(12). 06OCN1 55672 Federal Register / Vol. 86, No. 191 / Wednesday, October 6, 2021 / Notices 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 Sections 102.06 and 802.01B of the NYSE Listed Company Manual to allow an acquisition company to contribute a portion of its trust account to a new acquisition company and spin-off the new acquisition company to its shareholders, and to make conforming changes to the continued listing criteria applicable to acquisition companies. The proposed rule change was published for comment in the Federal Register on September 8, 2021.3 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 October 23, 2021. The Commission is extending the 45day time period for Commission action on the proposed rule change. The Commission finds it 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 December 7, 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–2021–42). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–21772 Filed 10–5–21; 8:45 am] BILLING CODE 8011–01–P jspears on DSK121TN23PROD with NOTICES1 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 92839 (September 1, 2021), 86 FR 50408. Comments received on the proposal are available on the Commission’s website at: https://www.sec.gov/ comments/sr-nyse-2021-42/srnyse202142.htm. 4 15 U.S.C. 78s(b)(2). 5 Id. 6 17 CFR 200.30–3(a)(31). 2 17 VerDate Sep<11>2014 20:38 Oct 05, 2021 Jkt 256001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93214; File Nos. SR–NYSE– 2021–05, SR–NYSEAMER–2021–04, SR– NYSEArca–2021–07, SR–NYSECHX–2021– 01, SR–NYSENAT–2021–01] Self-Regulatory Organizations; New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE Chicago, Inc., and NYSE National, Inc.; Order Disapproving Proposed Rule Changes, as Modified by Partial Amendment No. 1, To Amend Each Exchange’s Fee Schedule To Add Two Partial Cabinet Bundles Available in Co-Location and Establish Associated Fees September 30, 2021. I. Introduction On January 19, 2021, New York Stock Exchange LLC (‘‘NYSE’’), NYSE American LLC (‘‘NYSE American’’), NYSE Arca, Inc. (‘‘NYSE Arca’’), NYSE Chicago, Inc. (‘‘NYSE Chicago’’), and NYSE National, Inc. (‘‘NYSE National’’) (each an ‘‘Exchange,’’ collectively, the ‘‘Exchanges’’) each filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’ or ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend the Exchanges’ fee schedules related to co-location to add two Partial Cabinet Bundles available in co-location and establish associated fees. The proposed rule changes were published for comment in the Federal Register on February 5, 2021 or February 8, 2021, as applicable.3 On March 18, 2021, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to either approve the proposed rule changes, disapprove the proposed rule changes, or institute proceedings to determine whether to disapprove the proposed rule changes.5 On May 6, 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release Nos. 91034 (February 1, 2021), 86 FR 8443 (February 5, 2021) (SR–NYSE–2021–05); 91035 (February 1, 2021), 86 FR 8449 (February 5, 2021) (SR–NYSEAMER–2021– 04); 91036 (February 1, 2021), 86 FR 8440 (February 5, 2021) (SR–NYSECHX–2021–01); and 91037 (February 1, 2021), 86 FR 8424 (February 5, 2021) (SR–NYSENAT–2021–01); 91044 (February 2, 2021), 86 FR 8662 (February 8, 2021) (SR– NYSEArca–2021–07) (each, a ‘‘Notice’’). For ease of reference, page citations are to the Notice for NYSE–2021–05. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release Nos. 91357 (March 18, 2021), 86 FR 15732 (March 24, 2021) (SR–NYSE–2021–05); 91358 (March 18, 2021), 86 FR 15732 (March 24, 2021) (SR–NYSEAMER–2021– 04); 91360 (March 18, 2021), 86 FR 15764 (March 2 17 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 2021, the Division of Trading and Markets (the ‘‘Division’’), acting on behalf of the Commission by delegated authority, issued an order instituting proceedings under Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule changes (‘‘Order Instituting Proceedings’’) to determine whether to approve or disapprove the proposed rule changes.7 The Commission received an initial comment letter from the Exchanges in response to the Order Instituting Proceedings.8 On July 30, 2021, pursuant to Section 19(b)(2) of the Act,9 the Commission designated a longer period for Commission action on the proceedings to determine whether to approve or disapprove the proposed rule changes.10 On September 14, 2021, each Exchange filed Partial Amendment No. 1, followed by a second comment letter.11 This order disapproves the 24, 2021) (SR–NYSEArca–2021–07); 91362 (March 18, 2021), 86 FR 15765 (March 24, 2021)(SR– NYSECHX–2021–01); and 91363 (March 18, 2021), 86 FR 15763 (March 24, 2021) (SR–NYSENAT– 2021–01). 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 91785 (May 6, 2021), 86 FR 26082 (May 12, 2021) (SR– NYSE–2021–05, NYSEAMER–2021–04, NYSEArca– 2021–07, SR–NYSECHX–2021–01 SR–NYSENAT– 2021–01). 8 NYSE filed a comment letter on behalf of all of the Exchanges. See, letter dated July 6, 2021 from Elizabeth K. King, Chief Regulatory Officer, ICE, General Counsel and Corporate Secretary, NYSE to Vanessa Countryman, Secretary, Commission (‘‘First NYSE Response’’). All comments received by the Commission on the proposed rule changes are available on the Commission’s website at: https://www.sec.gov/comments/sr-nyse-2021-05/ srnyse202105.htm; https://www.sec.gov/comments/ sr-nyseamer-2021-04/srnyseamer202104.htm; https://www.sec.gov/comments/sr-nysearca-202107/srnysearca202107.htm; https://www.sec.gov/ comments/sr-nysechx-2021-01/ srnysechx202101.htm https://www.sec.gov/ comments/sr-nysenat-2021-01/ srnysenat202101.htm. 9 15 U.S.C. 78s(b)(2). 10 See Securities Exchange Act Release Nos. 92532, 86 FR 42911 (August 5, 2021) (SR–NYSE– 2021–05, SR–NYSENAT–2021–01, SR– NYSEAMER–2021–04, NYSECHX–2021–01); 92531, 86 FR 42956 (August 5, 2021) (SR–NYSEArca– 2021–07). 11 In Partial Amendment No. 1, the Exchanges propose that Users ordering a proposed Partial Cabinet Bundle Option E or F on or before December 31, 2022 (instead of December 31, 2021, as originally proposed) would receive a 50% reduction in the monthly recurring charge. See Partial Amendment No. 1 at 3–4. See also, letter dated September 15, 2021 from Elizabeth K. King, Chief Regulatory Officer, ICE, General Counsel and Corporate Secretary, NYSE to Vanessa Countryman, Secretary, Commission (‘‘Second NYSE Response’’). Partial Amendment No. 1 and the Second NYSE Response are available on the Commission’s website at: https://www.sec.gov/comments/sr-nyse2021-05/srnyse202105.htm; https://www.sec.gov/ comments/sr-nyseamer-2021-04/ srnyseamer202104.htm; https://www.sec.gov/ comments/sr-nysearca-2021-07/ srnysearca202107.htm; https://www.sec.gov/ comments/sr-nysechx-2021-01/ E:\FR\FM\06OCN1.SGM 06OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 86, Number 191 (Wednesday, October 6, 2021)]
[Notices]
[Pages 55671-55672]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21772]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93222; File No. SR-NYSE-2021-42]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of a Longer Period for Commission Action on
Proposed Rule Change To Amend the Requirements of Section 102.06 of the
NYSE Listed Company Manual To Allow an Acquisition Company To
Contribute a Portion of Its Trust Account to a New Acquisition Company
and Spin-Off the New Acquisition Company to Its Shareholders

September 30, 2021.
On August 23, 2021, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') filed with the Securities and Exchange

[[Page 55672]]

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 Sections 102.06 and
802.01B of the NYSE Listed Company Manual to allow an acquisition
company to contribute a portion of its trust account to a new
acquisition company and spin-off the new acquisition company to its
shareholders, and to make conforming changes to the continued listing
criteria applicable to acquisition companies. The proposed rule change
was published for comment in the Federal Register on September 8,
2021.\3\
---------------------------------------------------------------------------

\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 92839 (September 1,
2021), 86 FR 50408. Comments received on the proposal are available
on the Commission's website at: https://www.sec.gov/comments/sr-nyse-2021-42/srnyse202142.htm.
---------------------------------------------------------------------------

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 October 23, 2021.
---------------------------------------------------------------------------

\4\ 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 it 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 December 7, 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-2021-42).
---------------------------------------------------------------------------

\5\ Id.

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. 2021-21772 Filed 10-5-21; 8:45 am]
BILLING CODE 8011-01-P

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