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Notice

Self-Regulatory Organizations; NYSE Arca, Inc.; 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 NYSE Arca Rule 5.2-E(j)(6) Relating to Options-Linked Securities

A Notice by the Securities and Exchange Commission on 12/11/2020

Document Details

Information about this document as published in the Federal Register.

Printed version:
PDF
Publication Date:
12/11/2020
Agency:
Securities and Exchange Commission
Document Type:
Notice
Document Citation:
85 FR 80206
Page:
80206-80207 (2 pages)
Agency/Docket Numbers:
Release No. 34-90575
File No. SR-NYSEArca-2020-46
Document Number:
2020-27199
Document Details
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Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble December 7, 2020.

On June 10, 2020, NYSE Arca, Inc. (“Exchange” or “NYSE Arca”) 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 NYSE Arca Rule 5.2-E(j)(6) to accommodate Exchange listing and trading of Options-Linked Securities. The proposed rule change was published for comment in the Federal Register on June 22, 2020.[3] On July 28, 2020, 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 September 16, 2020, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act [6] to determine whether to approve or disapprove the proposed rule change.[7] The Commission has received no Start Printed Page 80207comment letters on the proposed rule change.

Section 19(b)(2) of the Act [8] provides that, after initiating disapproval 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 date of publication of notice of filing of the proposed rule change was June 22, 2020. December 19, 2020, is 180 days from that date, and February 17, 2021, is 240 days from that date.

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 this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,[9] designates February 17, 2021, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-NYSEArca-2020-46).

Start Signature

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[10]

J. Matthew DeLesDernier,

Assistant Secretary.

End Signature End Preamble

Footnotes

3.  See Securities Exchange Act Release No. 89073 (June 16, 2020), 85 FR 37488 (“Notice”).

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5.  See Securities Exchange Act Release No. 89412, 85 FR 46744 (August 3, 2020).

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7.  See Securities Exchange Act Release No. 89898, 85 FR 59572 (September 22, 2020). Specifically, the Commission instituted proceedings to allow for additional analysis of the proposed rule change's consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,” and “to protect investors and the public interest.” See id. at 59573 (citing 15 U.S.C. 78f(b)(5)).

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[FR Doc. 2020-27199 Filed 12-10-20; 8:45 am]

BILLING CODE 8011-01-P

Published Document