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Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify the Application of the Minimum Bid Price Compliance Periods and the Delisting Appeals Process for Bid Price Non-Compliance in Listing Rules 5810 and 5815 Under Certain Circumstances

89 Fed. Reg. 81956 (Oct. 9, 2024)

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify the Application of the Minimum Bid Price Compliance Periods and the Delisting Appeals Process for Bid Price Non-Compliance in Listing Rules 5810 and 5815 Under Certain Circumstances

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Federal RegisterOct 9, 2024
89 Fed. Reg. 81956 (Oct. 9, 2024)
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    Securities and Exchange Commission
  • [Release No. 34-101238; File No. SR-NASDAQ-2024-045]
    • October 3, 2024.

    On August 6, 2024, The Nasdaq Stock Market LLC (“Nasdaq”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) and Rule 19b-4 thereunder, a proposed rule change to modify the application of the minimum bid price compliance periods and the delisting appeals process for bid price non-compliance in Nasdaq Listing Rules 5810 and 5815 under certain circumstances. The proposed rule change was published for comment in the Federal Register on August 23, 2024.

    See Securities Exchange Act Release No. 100767 (Aug. 19, 2024), 89 FR 68228. Comments on the proposed rule change are available at: https://www.sec.gov/comments/sr-nasdaq-2024-045/srnasdaq2024045.htm.

    Section 19(b)(2) of the Act 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 October 7, 2024. 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 proposed rule change and the comments received. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates November 21, 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-NASDAQ-2024-045).

    Id.

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

    Vanessa A. Countryman,

    Secretary.

    [FR Doc. 2024-23287 Filed 10-8-24; 8:45 am]

    BILLING CODE 8011-01-P