Notice2023-10988
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change by The Options Clearing Corporation Concerning Clearing Member Cybersecurity Obligations
Primary source
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Published
May 24, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 100 (Wednesday, May 24, 2023)</title>
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[Federal Register Volume 88, Number 100 (Wednesday, May 24, 2023)]
[Notices]
[Page 33655]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-10988]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97525; File No. SR-OCC-2023-003]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change by The Options Clearing Corporation Concerning
Clearing Member Cybersecurity Obligations
May 18, 2023.
On March 21, 2023, the Options Clearing Corporation (``OCC'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-OCC-2023-003 pursuant to Section 19(b) of the
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
\2\ thereunder to amend certain provisions in OCC's Rules relating to
Clearing Member cybersecurity obligations to address the occurrence of
a cyber-related disruption or intrusion of a Clearing Member
(``Security Incident''). The proposed rule change was published for
public comment in the Federal Register on April 5, 2023.\3\ The
Commission has received two comments regarding the proposal described
in 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. 97225 (Mar. 30, 2023),
88 FR 20195 (Apr. 5, 2023) (File No. SR-OCC-2023-003) (``Notice of
Filing'').
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Section 19(b)(2) of the Exchange 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 after publication of the Notice of
Filing is May 20, 2023. The Commission is extending this 45-day time
period.
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\4\ 15 U.S.C. 78s(b)(2).
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In order to provide the Commission with sufficient time to consider
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.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Exchange Act,\5\ designates July 4, 2023 as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-OCC-2023-
003.
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\5\ Id.
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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-10988 Filed 5-23-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on May 24, 2023.
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