Sunshine Act Meetings, 61207 [2024-16835]

Download as PDF Federal Register / Vol. 89, No. 146 / Tuesday, July 30, 2024 / Notices permit the suspension and delisting of a listed company that has changed its primary business focus. On April 17, Michael J. Elston, 2024, the Exchange filed Amendment Secretary. No. 1 to the proposed rule change, [FR Doc. 2024–16847 Filed 7–26–24; 4:15 pm] which replaced and superseded the BILLING CODE 7710–12–P proposed rule change as originally filed.3 The proposed rule change, as modified by Amendment No. 1, was RAILROAD RETIREMENT BOARD published for comment in the Federal Register on April 25, 2024.4 On June 6, Sunshine Act Meetings 2024, the Commission designated a longer period for Commission action on TIME AND DATE: 10:00 a.m., August 7, the proposed rule change.5 On July 17, 2024. 2024, the Exchange filed Amendment PLACE: Members of the public wishing No. 2 to the proposed rule change, to attend the meeting must submit a which amended and superseded the written request at least 24 hours prior to original filing, as modified Amendment the meeting to receive dial-in No. 1, in its entirety.6 The Commission information. All requests must be sent has received no comment letters on the to SecretarytotheBoard@rrb.gov. proposal. The Commission is publishing STATUS: This meeting will be open to the this notice to solicit comments on public. Amendment No. 2 from interested persons and is approving the proposed MATTERS TO BE CONSIDERED: Office of rule change, as modified by Amendment Legislative Affairs Update. CONTACT PERSON FOR MORE INFORMATION: No. 2, on an accelerated basis. Stephanie Hillyard, Secretary to the II. The Exchange’s Description of the Board, (312) 751–4920. Proposed Rule Change, as Modified by 20260–1000. Telephone: (202) 268– 4800. (Authority 5 U.S.C. 552b) Amendment No. 2 7 Dated: July 26, 2024. Stephanie Hillyard, Secretary to the Board. [FR Doc. 2024–16835 Filed 7–26–24; 4:15 pm] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–100585; File No. SR–NYSE– 2024–21] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 2, To Amend Section 802.01D of the NYSE Listed Company Manual Concerning the Suspension and Delisting of a Listed Company That Has Changed Its Primary Business Focus July 24, 2024. khammond on DSKJM1Z7X2PROD with NOTICES I. Introduction On April 4, 2024, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) 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 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 16:51 Jul 29, 2024 Jkt 262001 In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. 3 The full text of Amendment No. 1 is available on the Commission’s website at: https:// www.sec.gov/comments/sr-nyse-2024-21/ srnyse202421.htm. 4 See Securities Exchange Act Release No. 99992 (April 19, 2024), 89 FR 31783 (‘‘Notice’’). 5 See Securities Exchange Act Release No. 100293 (June 6, 2024), 89 FR 49926 (June 12, 2024) (extending the time period for Commission action to July 24, 2024). 6 In Amendment No. 2, the Exchange revised the proposal to: (i) include a requirement that any company that undertakes a change in its primary business focus must promptly provide notice of such change in writing to the Exchange; (ii) amend the proposed rule text in relation to the additional factors the Exchange will consider to delete the phrase indicating that the Exchange will consider those additional factors ‘‘where appropriate’’; (iii) provide an explanation of why the Exchange will consider such additional factors; (iv) state that the Exchange will undertake its continued listing analysis regardless of whether the listed company provides the required notification to the Exchange; and (v) conform Form 19b–4 to the changes being made to the proposed rule text. Amendment No. 2 is available at https://www.sec.gov/comments/srnyse-2024-21/srnyse202421.htm. 7 This Section II reproduces Amendment No. 2, as filed by the Exchange. PO 00000 Frm 00150 Fmt 4703 Sfmt 4703 61207 A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose SR–NYSE–2024–21 was originally filed on April 4, 2024. On April 17, 2024, the Exchange filed Amendment No. 1 to the proposed rule change, which replaced and superseded the proposed rule change as originally filed. The proposed rule change, as modified by Amendment No. 1, was published for comment in the Federal Register on April 25, 2024.8 This Amendment No. 2 to SR–NYSE–2024–21 replaces and supersedes the original filing as modified by Amendment No. 1 in its entirety.9 Amendment No. 2 amends Amendment No. 1 to: (i) amend the proposed rule text to include a requirement that any company that undertakes a change in its primary business focus must promptly provide notice of such change in writing to the Exchange; (ii) amend the proposed rule text in relation to the additional factors the Exchange will consider to delete the phrase indicating that the Exchange will consider those additional factors ‘‘where appropriate’’; (iii) amend the Purpose section of the filing to provide an explanation of why the Exchange will consider such additional factors; (iv) amend the Purpose section to note that the Exchange will undertake its continued listing analysis regardless of whether the listed company provides the required notification to the Exchange; and (v) amend the Purpose section to conform it to the changes being made to the proposed rule text. It has been the Exchange’s experience that listed companies occasionally change the focus of their operations from the business they were engaged in at the time of initial listing to a business line that is completely unrelated or that was not material at the time of its original listing. The Exchange is concerned that, in such circumstances, investors who acquired the company’s stock prior to this change in operations (including, in many cases, in connection with the company’s initial public offering) may have made their investment decision based on the company’s disclosure about its original business and might not have made their investment if they had been aware of how the company would change. In addition, a wholesale change in business operations may give rise to a concern about the suitability for listing 8 See Securities Exchange Act Release No. 99992 (April 19, 2024), 89 FR 31783. 9 See SR–NYSE–2024–21 (April 4, 2024). E:\FR\FM\30JYN1.SGM 30JYN1

Agencies

[Federal Register Volume 89, Number 146 (Tuesday, July 30, 2024)]
[Notices]
[Page 61207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16835]


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RAILROAD RETIREMENT BOARD


Sunshine Act Meetings

TIME AND DATE: 10:00 a.m., August 7, 2024.

PLACE: Members of the public wishing to attend the meeting must submit 
a written request at least 24 hours prior to the meeting to receive 
dial-in information. All requests must be sent to 
[email protected].

STATUS: This meeting will be open to the public.

MATTERS TO BE CONSIDERED: Office of Legislative Affairs Update.

CONTACT PERSON FOR MORE INFORMATION: Stephanie Hillyard, Secretary to 
the Board, (312) 751-4920.

(Authority 5 U.S.C. 552b)

     Dated: July 26, 2024.
Stephanie Hillyard,
Secretary to the Board.
[FR Doc. 2024-16835 Filed 7-26-24; 4:15 pm]
BILLING CODE 7905-01-P
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