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 Section 802.01C of the NYSE Listed Company Manual (Price Criteria for Capital or Common Stock) To Restrict the Use of Reverse Stock Splits in Certain Circumstances, 95301 [2024-28116]
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Federal Register / Vol. 89, No. 231 / Monday, December 2, 2024 / Notices
opens on December 3, 2024 and ends on
January 2, 2025. View the full
information request and submit
comments at https://www.reginfo.gov/
public/do/PRAViewICR?ref_
nbr=202409-3235-016 or email
comments to MBX.OMB.OIRA.SEC_
desk_officer@omb.eop.gov.
Dated: November 25, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–28124 Filed 11–29–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–101746; File No. SR–NYSE–
2024–48]
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 Section
802.01C of the NYSE Listed Company
Manual (Price Criteria for Capital or
Common Stock) To Restrict the Use of
Reverse Stock Splits in Certain
Circumstances
ddrumheller on DSK120RN23PROD with NOTICES1
November 25, 2024.
On September 30, 2024, New York
Stock Exchange LLC (‘‘NYSE’’) 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 Section 802.01C (Price
Criteria for Capital or Common Stock) of
the NYSE Listed Company Manual to
provide that (i) a company that falls
below the price criteria set forth therein
and effects a reverse stock split to regain
compliance will not be eligible for a
compliance period in certain
circumstances, and (ii) a company may
not effectuate a reverse stock split if it
would result in the company falling
below continued listing requirements.
The proposed rule change was
published for comment in the Federal
Register on October 17, 2024.3
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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 101306
(Oct. 10, 2024), 89 FR 83738. Comments on the
proposed rule change are available at: https://
www.sec.gov/comments/sr-nyse-2024-48/
srnyse202448.htm.
4 15 U.S.C. 78s(b)(2).
2 17
VerDate Sep<11>2014
18:25 Nov 29, 2024
Jkt 265001
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
the Commission will 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 December 1,
2024. The Commission is extending this
45-day time period.
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
and comments received. Accordingly,
the Commission, pursuant to Section
19(b)(2) of the Act,5 designates January
15, 2025, 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–2024–48).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–28116 Filed 11–29–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–101730; File No. SR–
SAPPHIRE–2024–38]
Self-Regulatory Organizations; MIAX
Sapphire, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Exchange
Rule 402, Criteria for Underlying
Securities To List and Trade Options
on the Fidelity Wise Origin Bitcoin
Fund (the ‘‘Fidelity Fund’’) and the ARK
21Shares Bitcoin ETF (the ‘‘ARK 21
Fund’’)
November 25, 2024.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on November
21, 2024, MIAX Sapphire, LLC
(‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I and II below,
which Items have been prepared by the
Exchange. The Commission is
5 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(31).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
6 17
PO 00000
Frm 00134
Fmt 4703
95301
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Exchange Rule 402, Criteria for
Underlying Securities. The text of the
proposed rule change is available on the
Exchange’s website at https://
www.miaxglobal.com/markets/usoptions/miax-sapphire/rule-filings, at
the Exchange’s principal office, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange 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 these
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 aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Exchange Rule 402, Criteria for
Underlying Securities,3 to allow the
Exchange to list and trade options on
Fidelity Wise Origin Bitcoin Fund (the
‘‘Fidelity Fund’’) and the ARK 21Shares
Bitcoin ETF (the ‘‘ARK 21 Fund’’ and,
with the Fidelity Fund, the ‘‘Bitcoin
Funds’’), designating the Bitcoin Funds
as appropriate for options trading on the
Exchange.4 This is a competitive filing
3 The Exchange notes that its affiliate exchanges,
MIAX Options and MIAX Pearl, submitted
substantively identical proposals. The Exchange
notes that all the rules of Chapter III of the MIAX
Options Exchange, including Rules 307 and 309, are
incorporated by reference to MIAX Pearl and MIAX
Sapphire. The Exchange also notes that all of the
rules of Chapter III of the MIAX Options Exchange,
including Rules 307 and 309, and the rules of
Chapter IV of the MIAX Options Exchange,
including Rule 402, are incorporated by reference
to MIAX Emerald.
4 On January 10, 2024, the Commission approved
proposals by NYSE Arca, Inc., The Nasdaq Stock
Market LLC, and Cboe BZX Exchange, Inc. to list
and trade the shares of 11 bitcoin-based
commodity-based trust shares and trust units,
including the iShares Bitcoin Trust. See Securities
Exchange Act Release No. 99306 (Jan. 10, 2024), 89
Continued
Sfmt 4703
E:\FR\FM\02DEN1.SGM
02DEN1
]]>Agencies
[Federal Register Volume 89, Number 231 (Monday, December 2, 2024)]
[Notices]
[Page 95301]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28116]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101746; File No. SR-NYSE-2024-48]
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 Section 802.01C of the NYSE Listed
Company Manual (Price Criteria for Capital or Common Stock) To Restrict
the Use of Reverse Stock Splits in Certain Circumstances
November 25, 2024.
On September 30, 2024, New York Stock Exchange LLC (``NYSE'') 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
Section 802.01C (Price Criteria for Capital or Common Stock) of the
NYSE Listed Company Manual to provide that (i) a company that falls
below the price criteria set forth therein and effects a reverse stock
split to regain compliance will not be eligible for a compliance period
in certain circumstances, and (ii) a company may not effectuate a
reverse stock split if it would result in the company falling below
continued listing requirements. The proposed rule change was published
for comment in the Federal Register on October 17, 2024.\3\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 101306 (Oct. 10,
2024), 89 FR 83738. Comments on the proposed rule change are
available at: https://www.sec.gov/comments/sr-nyse-2024-48/srnyse202448.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 will 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 December 1, 2024. The Commission is extending this 45-day time
period.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
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 and comments
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of
the Act,\5\ designates January 15, 2025, 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-2024-48).
---------------------------------------------------------------------------
\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).
---------------------------------------------------------------------------
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-28116 Filed 11-29-24; 8:45 am]
BILLING CODE 8011-01-P
