[Federal Register Volume 85, Number 20 (Thursday, January 30, 2020)]
[Notices]
[Page 5500]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01642]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88028; File No. SR-NASDAQ-2019-091]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Adopt a New Rule Permitting Nasdaq To Halt 
Trading in a Security and Request Information From the Company 
Regarding the Number of Unrestricted Publicly Held Shares in Certain 
Circumstances

January 24, 2020.
    On November 22, 2019, The Nasdaq Stock Market LLC (``Nasdaq'' or 
``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 adopt a new rule permitting Nasdaq to halt 
trading in a security and request information from the company 
regarding the number of unrestricted publicly held shares when Nasdaq 
observes unusual trading characteristics in a security or a company 
announces an event that may cause a contraction in the number of 
unrestricted publicly held shares. The proposed rule change was 
published for comment in the Federal Register on December 12, 2019.\3\ 
The Commission has received no comment letters 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. 87677 (Dec. 6, 
2019), 84 FR 67974.
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    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 January 26, 2020. The Commission is extending this 45-day time 
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    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, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
March 11, 2020 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-NASDAQ-2019-091).
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    \5\ Id.
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-01642 Filed 1-29-20; 8:45 am]
 BILLING CODE 8011-01-P


