; or (II) institute a denial proceeding under clause (ii) to determine whether registration should be denied. (ii) Denial proceeding A proceeding under clause (i)(II) shall include notice of the grounds for denial under consideration and opportunity for hearing and shall be concluded within 180 days of the date of the publication of a notice under subparagraph (B). At the conclusion of such proceeding the Commission, by order, shall grant or deny such registration. The Commission may extend the time for conclusion of such proceeding for up to 90 days if the Commission finds good cause for such extension and publishes the Commission’s reasons for so finding or for such longer period as to which the applicant consents. (iii) Criteria for approval or denial The Commission shall grant a registration under this paragraph if the Commission finds that the requirements of this title and the rules and regulations thereunder with respect to the applicant are satisfied. The Commission shall deny such registration if it does not make such finding. (2) Powers and restrictions In addition to the powers and restrictions otherwise applicable to a national securities exchange, a venture exchange— (A) may only constitute, maintain, or provide a market place or facilities for bringing together purchasers and sellers of venture securities; (B) may not extend unlisted trading privileges to any venture security; (C) may only, if the venture exchange is a listing tier of another national securities exchange, allow trading in securities that are registered under section 12(b) on a national securities exchange other than a venture exchange; and (D) may, subject to the rule filing process under section 19(b)— (i) determine the increment to be used for quoting and trading venture securities on the exchange