82 FR 10947 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Amending Its Listing Standards for Special Purpose Acquisition Companies

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 31 (February 16, 2017)

[Federal Register Volume 82, Number 31 (Thursday, February 16, 2017)]
[Notices]
[Page 10947]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-03111]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80022; File No. SR-NYSE-2016-72]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change Amending Its Listing Standards for Special Purpose 
Acquisition Companies

February 10, 2017.
    On December 8, 2016, 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'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend its listing standards for Special Purpose 
Acquisition Companies (``SPAC'') to: (1) No longer require a 
shareholder vote and to refine existing procedures to affect business 
combination; and (2) adjust the quantitative requirements for initial 
and continued listing. The proposed rule change was published for 
comment in the Federal Register on December 29, 2016.\3\ The Commission 
received no comments on the proposal.
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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. 79676 (December 22, 
2016), 81 FR 96150 (December 29, 2016) (``Notice'').
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    Section 19(b)(2) of the Act \4\ 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 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 February 12, 2017. The Commission is extending this 45-day time 
period.
    The Commission finds it 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 proposal. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Act,\5\ designates March 29, 2017, 
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-2016-72).
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-03111 Filed 2-15-17; 8:45 am]
BILLING CODE 8011-01-P