Notice2021-12588
Self-Regulatory Organizations; LCH SA; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to the Clearing of Single-Name Credit Default Swaps by U.S. Customers
Primary source
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Published
June 16, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 114 (Wednesday, June 16, 2021)</title>
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[Federal Register Volume 86, Number 114 (Wednesday, June 16, 2021)]
[Notices]
[Page 32079]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-12588]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-92142; File No. SR-LCH SA 2021-001]
Self-Regulatory Organizations; LCH SA; Notice of Designation of
Longer Period for Commission Action on Proposed Rule Change Relating to
the Clearing of Single-Name Credit Default Swaps by U.S. Customers
June 10, 2021.
On April 13, 2021, Banque Centrale de Compensation, which conducts
business under the name LCH SA (``LCH SA''), filed with the Securities
and Exchange Commission (``Commission''), pursuant to Section 19(b)(1)
of the Securities Exchange Act (``Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to amend its rules to allow LCH
SA to offer clearing services in respect of single-name credit default
swaps that are security-based swaps submitted by Clearing Members on
behalf of their U.S. Clients for clearing by LCH SA. The proposed rule
change was published for comment in the Federal Register on May 3,
2021.\3\ To date, the Commission has not received comments on the
proposed rule change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Self-Regulatory Organizations; LCH SA; Notice of Filing of
Proposed Rule Change Relating to the Clearing of Single-Name Credit
Default Swaps by U.S. Customers, Exchange Act Release No. 34-91676
(April 26, 2021); 86 FR 23445 (May 3, 2021) (SR-LCH SA-2021-001).
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Section 19(b)(2) of the Act \4\ 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 from the publication of notice of filing of this proposed rule
change is June 17, 2021.
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\4\ 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 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 LCH
SA's proposed rule change.
Accordingly, pursuant to Section 19(b)(2) \5\ of the Act, and for
the reasons discussed above, the Commission designates August 1, 2021,
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-LCH SA-2021-001).
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\5\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12588 Filed 6-15-21; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on June 16, 2021.
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