Notice2022-02915
Self-Regulatory Organizations; The Depository Trust Company; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Provide Settlement Services for Transactions Entered Into Under the Proposed Securities Financing Transaction Clearing Service of the National Securities Clearing Corporation
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 11, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 29 (Friday, February 11, 2022)</title>
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[Federal Register Volume 87, Number 29 (Friday, February 11, 2022)]
[Notices]
[Page 8061]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-02915]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94167; File No. SR-DTC-2021-014]
Self-Regulatory Organizations; The Depository Trust Company;
Notice of Designation of Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change To Provide Settlement Services for Transactions Entered
Into Under the Proposed Securities Financing Transaction Clearing
Service of the National Securities Clearing Corporation
February 7, 2022.
On July 22, 2021, The Depository Trust Company (``DTC'') filed with
the Securities and Exchange Commission (``Commission'') proposed rule
change SR-DTC-2021-014 (``Proposed Rule Change'') pursuant to Section
19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule
19b-4 thereunder.\2\ The Proposed Rule Change was published for comment
in the Federal Register on August 11, 2021.\3\ The Commission received
no comment letters on the Proposed Rule Change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 92572 (August 5, 2021),
86 FR 44077 (August 11, 2021) (SR-DTC-2021-014) (``Notice'').
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On September 2, 2021, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to approve,
disapprove, or institute proceedings to determine whether to approve or
disapprove the Proposed Rule Change.\5\ On November 5, 2021, the
Commission instituted proceedings pursuant to Section 19(b)(2)(B) of
the Act,\6\ to determine whether to approve or disapprove the Proposed
Rule Change.\7\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ Securities Exchange Act Release No. 92861 (September 2,
2021), 86 FR 50570 (September 9, 2021) (SR-DTC-2021-014).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ Securities Exchange Act Release No. 93533 (November 5,
2021), 86 FR 62853 (November 12, 2021) (SR-DTC-2021-014).
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Section 19(b)(2) of the Act \8\ provides that proceedings to
determine whether to approve or disapprove a proposed rule change must
be concluded within 180 days of the date of publication of notice of
filing of the proposed rule change. The time for conclusion of the
proceedings may be extended for up to 60 days if the Commission
determines that a longer period is appropriate and publishes the
reasons for such determination.\9\ The 180th day after publication of
the Notice in the Federal Register is February 7, 2022.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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The Commission is extending the 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 the Commission has sufficient time to consider the
issues raised by the Proposed Rule Change and to take action on the
Proposed Rule Change. Accordingly, pursuant to Section
19(b)(2)(B)(ii)(II) of the Act,\10\ the Commission designates April 8,
2022, as the date by which the Commission should either approve or
disapprove the Proposed Rule Change SR-DTC-2021-014.
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\10\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-02915 Filed 2-10-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on February 11, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.