Notice2022-13815
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Enhance Capital Requirements and Make Other Changes
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
June 29, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 124 (Wednesday, June 29, 2022)</title>
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[Federal Register Volume 87, Number 124 (Wednesday, June 29, 2022)]
[Notices]
[Page 38792]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-13815]
[[Page 38792]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95146; File No. SR-NSCC-2021-016]
Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Designation of Longer Period for Commission
Action on Proceedings To Determine Whether To Approve or Disapprove a
Proposed Rule Change To Enhance Capital Requirements and Make Other
Changes
June 23, 2022.
On December 13, 2021, National Securities Clearing Corporation
(``NSCC'') filed with the Securities and Exchange Commission
(``Commission'') proposed rule change SR-NSCC-2021-016 (the ``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
December 29, 2021,\3\ and the Commission has received comments
regarding the changes proposed in the Proposed Rule Change.\4\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 93856 (December 22,
2021), 86 FR 74185 (December 29, 2021) (File No. SR-NSCC-2021-016)
(``Notice'').
\4\ Comments are available at <a href="https://www.sec.gov/comments/sr-nscc-2021016/srnscc2021016.htm">https://www.sec.gov/comments/sr-nscc-2021016/srnscc2021016.htm</a>.
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On January 26, 2022, pursuant to Section 19(b)(2) of the Act,\5\
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.\6\ On March 23, 2022, the
Commission instituted proceedings, pursuant to Section 19(b)(2)(B) of
the Act,\7\ to determine whether to approve or disapprove the Proposed
Rule Change.\8\ The Commission has received additional comment letters
on the Proposed Rule Change.\9\
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\5\ 15 U.S.C. 78s(b)(2).
\6\ Securities Exchange Act Release No. 94068 (January 26,
2022), 87 FR 5544 (February 1, 2022) (File No. SR-NSCC-2021-016).
\7\ 15 U.S.C. 78s(b)(2)(B).
\8\ Securities Exchange Act Release No. 94494 (March, 23, 2022),
87 FR 18444 (March, 30, 2022) (File No. SR-NSCC-2021-016).
\9\ See supra note 4.
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Section 19(b)(2) of the Act \10\ 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.\11\ The 180th day after publication of
the Notice in the Federal Register is June 27, 2022.
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\10\ 15 U.S.C. 78s(b)(2).
\11\ 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,\12\ the Commission designates August
26, 2022, as the date by which the Commission should either approve or
disapprove the Proposed Rule Change SR-NSCC-2021-016.
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\12\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-13815 Filed 6-28-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on June 29, 2022.
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