[Federal Register Volume 87, Number 178 (Thursday, September 15, 2022)]
[Notices]
[Pages 56716-56717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19920]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95716; File No. SR-NYSE-2022-11]


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, as Modified by Amendment No. 1, To Amend the NYSE Listed 
Company Manual To Provide a Limited Exemption From the Shareholder 
Approval Requirements for Closed-End Management Investment Companies 
With Equity Securities Listed Under Section 102.04 of the Listed 
Company Manual

September 9, 2022.
    On February 23, 2022, 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'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend Section 312.03 of the NYSE Listing 
Company Manual to provide an exemption from certain shareholder 
approval requirements of that rule for listed registered closed-end

[[Page 56717]]

management investment companies and business development companies 
under certain circumstances. On March 8, 2022, the Exchange filed 
Amendment No. 1 to the proposed rule change, which amended and replaced 
the proposed rule change in its entirety. The proposed rule change, as 
modified by Amendment No. 1, was published for comment in the Federal 
Register on March 15, 2022.\3\ The Commission has received no comment 
letters on the proposed rule change, as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 94388 (March 9, 
2022), 87 FR 14589.
---------------------------------------------------------------------------

    On April 26, 2022, 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 June 13, 2022, the Commission instituted proceedings 
under Section 19(b)(2)(B) of Act \6\ to determine whether to approve or 
disapprove the proposed rule change.\7\
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 94795, 87 FR 25689 
(May 2, 2022). The Commission designated June 13, 2022, as the date 
by which the Commission shall approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change, as modified by Amendment No. 1.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 95093, 87 FR 36548 
(June 17, 2022).
---------------------------------------------------------------------------

    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 March 15, 
2022.\9\ The 180th day after publication of the proposed rule change is 
September 11, 2022. The Commission is extending the time period for 
approving or disapproving the proposed rule change, as modified by 
Amendment No. 1, for an additional 60 days.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3.
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change, as modified by Amendment No. 1, so that it has sufficient 
time to consider the proposed rule change, as modified by Amendment No. 
1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates November 10, 2022, as the date by which the 
Commission shall either approve or disapprove the proposed rule change, 
as modified by Amendment No. 1 (File No. SR-NYSE-2022-11).
---------------------------------------------------------------------------

    \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,
Deputy Secretary.
[FR Doc. 2022-19920 Filed 9-14-22; 8:45 am]
BILLING CODE 8011-01-P