Notice2024-06166
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Adopt a Minimum Margin Amount at GSD
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
March 25, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 58 (Monday, March 25, 2024)</title>
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[Federal Register Volume 89, Number 58 (Monday, March 25, 2024)]
[Notices]
[Pages 20716-20717]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-06166]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99769; File No. SR-FICC-2024-003]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change To Adopt a Minimum Margin Amount at GSD
March 19, 2024.
On February 27, 2024, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-FICC-2024-003 (``Proposed Rule Change'')
pursuant to Section 19(b) of the Securities Exchange Act of 1934
(``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder to modify the
FICC's Government Securities Division (``GSD'') Rulebook (``GSD
Rules'') to incorporation a Minimum Margin Amount into the GSD margin
methodology.\3\ The Proposed Rule Change was published for public
comment in the Federal Register on March 15, 2024.\4\ The Commission
has received no comments regarding the Proposed Rule Change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Notice of Filing infra note 4, at 89 FR 18991.
\4\ Securities Exchange Act Release No. 99710 (March 11, 2024),
89 FR 18991 (March 15, 2024) (File No. SR-FICC-2024-003) (``Notice
of Filing''). FICC also filed a related advance notice (SR-FICC-
2024-801) (``Advance Notice'') with the Commission pursuant to
Section 806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, entitled the Payment, Clearing, and
Settlement Supervision Act of 2010 and Rule 19b-4(n)(1)(i) under the
Exchange Act. 12 U.S.C. 5465(e)(1). 15 U.S.C. 78s(b)(1) and 17 CFR
240.19b-4, respectively. The Advance Notice was published in the
Federal Register on March 15, 2024. Securities Exchange Act Release
No. 99712 (March 11, 2024), 89 FR (March 15, 2024) (File No. SR-
FICC-2024-801).
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Section 19(b)(2)(i) of the Exchange Act \5\ 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.\6\ 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.\7\
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\5\ 15 U.S.C. 78s(b)(2)(i).
\6\ 15 U.S.C. 78s(b)(2)(ii).
\7\ Id.
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The 45th day after publication of the Notice of Filing is April 29,
2024. 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,\8\ designates June 13, 2024, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove
[[Page 20717]]
proposed rule change SR-FICC-2024-003.
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\8\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-06166 Filed 3-22-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 25, 2024.
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