[Federal Register Volume 84, Number 188 (Friday, September 27, 2019)]
[Notices]
[Page 51210]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-20968]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87058; File No. SR-NYSEArca-2019-14]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change 
Relating to the Permitted Investments of the PGIM Ultra Short Bond ETF

September 23, 2019.
    On March 13, 2019, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') 
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 
make certain changes to the listing rule for shares (``Shares'') of the 
PGIM Ultra Short Bond ETF (``Fund''). The proposed rule change was 
published for comment in the Federal Register on April 2, 2019.\3\ On 
May 10, 2019, pursuant to Section 19(b)(2) of the Act,\4\ the 
Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to approve or disapprove the proposed 
rule change.\5\ On June 27, 2019, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ In the Order 
Instituting Proceedings, the Commission solicited comments to specified 
matters related to the proposal.\8\ The Commission has not received any 
comments on the proposed rule change.
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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. 85430 (Mar. 27, 
2019), 84 FR 12646 (Apr. 2, 2019) (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 85829 (May 10, 
2019), 84 FR 22221 (May 16, 2019). The Commission designated July 1, 
2019, as the date by which the Commission shall approve or 
disapprove, or institute proceedings to determine whether to approve 
or disapprove, the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 77871, 81 FR 26265 
(May 2, 2016) (``Order Instituting Proceedings''). Specifically, the 
Commission instituted proceedings to allow for additional analysis 
of the proposed rule change's consistency with Section 6(b)(5) of 
the Act, which requires, among other things, that the rules of a 
national securities exchange be ``designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade,'' and ``to protect investors and the public 
interest.'' See id., 81 FR at 26268.
    \8\ See id.
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of the filing of the proposed rule 
change. The Commission may, however, extend the period for issuing an 
order approving or disapproving the proposed rule change by not more 
than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on April 2, 2019.\10\ The 180th day after publication 
of the notice of the filing of the proposed rule change in the Federal 
Register is September 29, 2019.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 3.
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    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\11\ designates November 28, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2019-14).
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    \11\ 15 U.S.C. 78s(b)(2).
    \12\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-20968 Filed 9-26-19; 8:45 am]
 BILLING CODE 8011-01-P


