Section 19(b)(2) of the Act12
provides that, after initiating disapproval 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 notice and comment in theFederal Registeron March 22, 2012. September 18, 2012 is 180 days from that date, and November 17, 2012 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 this proposed rule change, the issues raised in the comment letters that have been submitted in response to the proposed rule change, including comment letters submitted in response to the Order Instituting Proceedings, and the Exchange's responses to such comments.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,13
designates November 17, 2012 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-ISE-2012-22).
1417 CFR 200.30-3(a)(57).
Kevin M. O'Neill,