[Federal Register Volume 78, Number 69 (Wednesday, April 10, 2013)]
[Notices]
[Pages 21481-21482]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-08308]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69286; File No. SR-NYSE-2013-07]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of a Longer Period for Commission Action on
Proposed Rule Change Amending NYSE Rules 451 and 465, and the Related
Provisions of Section 402.10 of the NYSE Listed Company Manual, Which
Provide a Schedule for the Reimbursement of Expenses by Issuers to NYSE
Member Organizations for the Processing of Proxy Materials and Other
Issuer Communications Provided To Investors Holding Securities in
Street Name, and To Establish a Five-Year Fee for the Development of an
Enhanced Brokers Internet Platform
April 3, 2013.
On February 1, 2013, New York Stock Exchange LLC (``NYSE'') 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 the fees
set forth in NYSE Rules 451 and 465, and the related provisions of
Section 402.10 of the NYSE Listed Company Manual, for the reimbursement
of expenses by issuers to NYSE member organizations for the processing
of proxy materials and other issuer communications provided to
investors holding securities in street name, and to establish a five-
year fee for the development of an enhanced brokers internet platform.
The proposed rule change was published for comment in the Federal
Register on February 22, 2013.\3\ The Commission received 24 comments
on the proposal.\4\
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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. 68936 (February 15,
2013), 78 FR 12381.
\4\ See letters to Elizabeth M. Murphy, Secretary, Commission
from Charles V. Rossi, President, The Securities Transfer
Association, dated February 20, 2013 and March 4, 2013; Karen V.
Danielson, President, Shareholder Services Association, dated March
4, 2013; Jeanne M. Shafer, dated March 6, 2013; David W. Lovatt,
dated March 6, 2013; Stephen Norman, Chair, The Independent Steering
Committee of Broadridge, dated March 7, 2013; Jeffrey D. Morgan,
President & CEO, National Investor Relations Institute, dated March
7, 2013; Kenneth Bertsch, President and CEO, Society of Corporate
Secretaries & Governance Professionals, dated March 7, 2013; Niels
Holch, Executive Director, Shareholder Communications Coalition,
dated March 12, 2013; Geoffrey M. Dugan, General Counsel, iStar
Financial Inc., dated March 13, 2013; Paul E. Martin, Chief
Financial Officer, Perficient, Inc., dated March 13, 2013; John
Harrington, President, Harrington Investments, Inc., dated March 14,
2013; James McRitchie, Shareowner, Corporate Governance, dated March
14, 2013; Clare A. Kretzman, General Counsel, Gartner, Inc., dated
March 15, 2013; Tom Quaadman, Vice President, Center for Capital
Markets Competitiveness, dated March 15, 2013; Dennis E. Nixon,
President, International Bancshares Corporation, dated March 15,
2013; Argus I. Cunningham, Chief Executive Officer, Sharegate Inc.,
dated March 15, 2013; Laura Berry, Executive Director, Interfaith
Center on Corporate Responsibility, dated March 15, 2013; Dorothy M.
Donohue, Deputy General Counsel--Securities Regulation, Investment
Company Institute, dated March 15, 2013; Charles V. Callan, Senior
Vice President--Regulatory Affairs, Broadridge Financial Solutions,
Inc., dated March 15, 2013; Brad Philips, Treasurer, Darling
International Inc., dated March 15, 2013; John Endean, President,
American Business Conference, dated March 18, 2013; Tom Price,
Managing Director, The Securities Industry and Financial Markets
Association, dated March 18, 2013; and Michael S. O'Brien, Vice
President--Corporate Governance Officer, BNY Mellon, March 28, 2013.
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[[Page 21482]]
Section 19(b)(2) of the Act \5\ 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 for this filing is April 8, 2013.
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\5\ 15 U.S.C. 78s(b)(2).
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The Commission is extending the 45-day time period for Commission
action on the proposed rule change. The Commission finds that it is
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
Exchange's proposal, as described above, and the comments received.
Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the
Commission designates May 23, 2013, as the date by which the Commission
should either approve or disapprove or institute proceedings to
determine whether to disapprove the proposed rule change (File No. SR-
NYSE-2013-07).
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\6\ 15 U.S.C. 78s(b)(2).
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(31).
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08308 Filed 4-9-13; 8:45 am]
BILLING CODE 8011-01-P