Notice2023-21345
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change by National Securities Clearing Corporation To Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
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
September 29, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 188 (Friday, September 29, 2023)</title>
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[Federal Register Volume 88, Number 188 (Friday, September 29, 2023)]
[Notices]
[Page 67407]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-21345]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98508; File No. SR-NCC-2023-007]
Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Designation of Longer Period for Commission
Action on Proposed Rule Change by National Securities Clearing
Corporation To Modify the Amended and Restated Stock Options and
Futures Settlement Agreement and Make Certain Revisions to the NSCC
Rules
September 25, 2023.
On August 10, 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 modify the Amended and Restated Stock Options and
Futures Settlement Agreement between NSCC and The Options Clearing
Corporation and make certain related revisions to Rule 18, Procedure
III and Addendum K of the NSCC Rules & Procedures. The proposed rule
change was published for public comment in the Federal Register on
August 30, 2023.\3\ The Commission has received no 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. 98213 (Aug. 24, 2023),
88 FR 59968 (Aug. 30, 2023) (File No. SR-NSCC-2023-007) (``Notice of
Filing'').
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Section 19(b)(2)(i) of the Exchange Act \4\ provides that, within
45 days of the publication of notice of the filing of a proposed rule
change, 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 unless
the Commission extends the period within which it must act as provided
in Section 19(b)(2)(ii) of the Exchange Act.\5\ Section 19(b)(2)(ii) of
the Exchange Act allows the Commission to designate a longer period for
review (up to 90 days from the publication of notice of the filing of a
proposed rule change) if the Commission finds such longer period to be
appropriate and publishes its reasons for so finding, or as to which
the self-regulatory organization consents.\6\
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\4\ 15 U.S.C. 78s(b)(2)(i).
\5\ 15 U.S.C. 78 s(b)(2)(ii).
\6\ Id.
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The 45th day after publication of the Notice of Filing is October
14, 2023. 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 and therefore is extending this 45-day time
period.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Exchange Act,\7\ designates November 28, 2023, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-NCC-2023-
007.
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\7\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21345 Filed 9-28-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 29, 2023.
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