I. Introduction
On July 23, 2012, The NASDAQ Stock Market LLC (“Nasdaq” or “Exchange”) 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 amend Exchange Rule 4626—Limitation of Liability (“accommodation proposal”). The proposed rule change was published for comment in the Federal Register on August 1, 2012. The Commission received 11 comment letters on the accommodation proposal and a response letter from Nasdaq. On September 12, 2012, the Commission extended the time period for Commission action to October 30, 2012. On October 26, 2012, the Commission instituted proceedings to determine whether to approve or disapprove the accommodation proposal. The Commission then received six additional comment letters on the proposal and a second response letter from Nasdaq. On January 23, 2013, the Commission extended the time period for Commission action to March 29, 2013.10 This order approves the proposed rule change.
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