[Federal Register Volume 87, Number 9 (Thursday, January 13, 2022)]
[Notices]
[Page 2189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00491]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93933; File No. SR-NYSE-2021-40]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Adopt on a Permanent Basis the Pilot Program for Market-
Wide Circuit Breakers in Rule 7.12

January 7, 2022.

I. Introduction

    On July 2, 2021, 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 (the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposal to make its rules governing the operation of the Market-Wide 
Circuit Breakers (``MWCB'') mechanism permanent. The proposed rule 
change was published for comment in the Federal Register on July 22, 
2021.\3\ On August 27, 2021, pursuant to Section 19(b)(2) of the 
Act,\4\ the Commission designated a longer period within which to 
either approve the proposed rule changes, disapprove the proposed rule 
changes, or institute proceedings to determine whether to disapprove 
the proposed change.\5\ On September 30, 2021, the Commission initiated 
proceedings to determine whether to approve or disapprove the proposed 
rule changes.\6\ The Commission has received no comments on the 
proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 92428 (July 16, 
2021), 86 FR 38776.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 92785A, 86 FR 50202 
(September 7, 2021).
    \6\ See Securities Exchange Act Release No. 93212, 86 FR 55066 
(October 5, 2021).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \7\ provide that, after instituting 
proceedings, the Commission shall issue an order approving or 
disapproving a proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change.\8\ 
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.\9\ The 180th day for 
the proposed rule change is January 18, 2022.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa).
---------------------------------------------------------------------------

    The Commission is extending the 180-day time period for Commission 
action on the proposed rule change. The Commission finds it 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, including the sufficiency of the 
proposal's ongoing assessment provisions.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates March 19, 2022 as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-NYSE-2021-40).
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00491 Filed 1-12-22; 8:45 am]
BILLING CODE 8011-01-P


