
[Federal Register Volume 88, Number 224 (Wednesday, November 22, 2023)]
[Notices]
[Pages 81462-81463]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-25776]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98967; File No. SR-NYSE-2023-34]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on a 
Proposed Rule Change To Amend Section 312.03(b) of the NYSE Listed 
Company Manual To Modify the Circumstances Under Which a Listed Company 
Must Obtain Shareholder Approval of a Sale of Securities Below the 
Minimum Price to a Substantial Security Holder of the Company

November 16, 2023.
    On September 26, 2023, New York Stock Exchange LLC (the 
``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 Section 312.03(b) of the NYSE Listed 
Company Manual (``Manual'') to modify the circumstances under which a 
listed company must obtain shareholder approval of a sale of securities 
below the Minimum Price \3\ to a substantial security holder of the 
listed company. The proposed rule change was published for comment in 
the Federal Register on October 4, 2023.\4\ The Commission received no 
comments on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Minimum Price is defined in Section 312.04(h) of the Manual.
    \4\ See Securities Exchange Act Release No. No. 98662 (September 
29, 2023), 88 FR 68675 (October 4, 2023).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ 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

[[Page 81463]]

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 November 18, 
2023. The Commission is extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds that it is 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,\6\ designates January 2, 2024, 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-
NYSE-2023-34).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-25776 Filed 11-21-23; 8:45 am]
BILLING CODE 8011-01-P


