83 FR 64414 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule To Make Permanent the Retail Liquidity Program Pilot, Which is Set To Expire on December 31, 2018

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 240 (December 14, 2018)

[Federal Register Volume 83, Number 240 (Friday, December 14, 2018)]
[Notices]
[Pages 64414-64415]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-27076]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84766; File No. SR-NYSE-2018-28]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule To Make Permanent the Retail Liquidity Program Pilot, Which is Set 
To Expire on December 31, 2018

December 10, 2018.
    On June 4, 2018, New York Stock Exchange LLC (``Exchange'') filed 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Exchange 
Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to make 
permanent the Exchange's Retail Liquidity Program Pilot (``Program''). 
The proposed rule change was published for comment in the Federal 
Register on June 21, 2018.\3\ On July 31, 2018, 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.\4\ On 
September 18, 2018, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \5\ to determine whether to approve or 
disapprove the proposed rule change.\6\ The Commission received no 
comment letters on the proposed rule change.
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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. 83454 (June 15, 
2018), 83 FR 28874 (``Notice'').
    \4\ See Securities Exchange Act Release No. 83749, 83 FR 38393 
(August 6, 2018). The Commission designated September 19, 2018, as 
the date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 84183, 83 FR 48350 
(September 24, 2018) (``Order Instituting Proceedings'').
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    Section 19(b)(2) of the Act \7\ 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, however, extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the

[[Page 64415]]

reasons for such determination. The proposed rule change was published 
for notice and comment in the Federal Register on June 21, 2018.\8\ 
December 18, 2018 is 180 days from that date, and February 16, 2019 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 the proposed rule change.\9\
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See supra note 3.
    \9\ The Commission notes that on November 30, 2018, the Exchange 
has filed a separate proposed rule change to extend the pilot 
period, which is currently set to expire on December 31, 2018, until 
June 30, 2019. See SR-NYSE-2018-59.
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates February 16, 2019 as the date by which the 
Commission should either approve or disapprove the proposed rule change 
(File No. SR-NYSE-2018-28).
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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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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018-27076 Filed 12-13-18; 8:45 am]
 BILLING CODE 8011-01-P