[Federal Register Volume 87, Number 47 (Thursday, March 10, 2022)]
[Notices]
[Pages 13780-13781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05024]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94362; File No. SR-NYSE-2021-42]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Amend the Requirements of Section 102.06 of the NYSE 
Listed Company Manual To Allow an Acquisition Company To Contribute a 
Portion of Its Trust Account to a New Acquisition Company and Spin-Off 
the New Acquisition Company to Its Shareholders

March 4, 2022.
    On August 23, 2021, the New York Stock Exchange LLC (``NYSE'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend the requirements of 
Section 102.06 of the NYSE Listed Company Manual (``Manual'') to allow 
an acquisition company to contribute a portion of the amount held in 
its trust account to a trust account of a new

[[Page 13781]]

acquisition company and spin off the new acquisition company to its 
shareholders in certain situations. The proposed rule change was 
published for comment in the Federal Register on September 8, 2021.\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. 92839 (September 1, 
2021), 86 FR 50408. Comments received on the proposal are available 
on the Commission's website at: https://www.sec.gov/comments/sr-nyse-2021-42/srnyse202142.htm.
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    On September 30, 2021, 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 disapprove the proposed rule 
change.\5\ On December 3, 2021, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Exchange Act \6\ to determine whether 
to approve or disapprove the proposed rule change.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 93222, 86 FR 55671 
(October 6, 2021). The Commission designated December 7, 2021 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. 93714, 86 FR 70150 
(Dec. 9, 2021).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
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 filing of the proposed rule change. 
The Commission may extend the period for issuing an order approving or 
disapproving the proposed rule change, however, 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 comment in the Federal Register on September 
8, 2021.\9\ The 180th day after publication of the proposed rule change 
is March 7, 2022. The Commission is extending the time period for 
approving or disapproving the proposed rule change for an additional 60 
days.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ 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 and the comments that have been submitted in 
connection therewith. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\10\ designates May 6, 2022, as the date by which 
the Commission shall either approve or disapprove the proposed rule 
change (File No. SR-NYSE-2021-42).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-05024 Filed 3-9-22; 8:45 am]
BILLING CODE 8011-01-P


