[Federal Register Volume 85, Number 175 (Wednesday, September 9, 2020)]
[Notices]
[Page 55728]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19844]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89745; File No. SR-NASDAQ-2020-002]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend the Procedures Governing the Introduction of Legal 
Arguments and Material Information by Companies in a Proceeding Before 
a Hearings Panel

September 2, 2020.
    On July 2, 2020, 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 amend the procedures governing the introduction 
of legal arguments and material information by companies in a 
proceeding before a Hearings Panel. The proposed rule change was 
published for comment in the Federal Register on July 20, 2020.\3\
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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. 89309 (July 14, 
2020), 85 FR 43900. Comments on the proposed rule change can be 
found at: https://www.sec.gov/comments/sr-nasdaq-2020-002/srnasdaq2020002.htm.
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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 September 3, 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 and the comments 
received. Accordingly, the Commission, pursuant to Section 19(b)(2) of 
the Act,\5\ designates October 18, 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-2020-002).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-19844 Filed 9-8-20; 8:45 am]
BILLING CODE 8011-01-P


