Notice2024-10435
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Amend the Clearing Agency Risk Management Framework
Primary source
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Published
May 14, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 94 (Tuesday, May 14, 2024)</title>
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[Federal Register Volume 89, Number 94 (Tuesday, May 14, 2024)]
[Notices]
[Pages 42006-42007]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10435]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100075; File No. SR-FICC-2024-006]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change To Amend the Clearing Agency Risk Management
Framework
May 8, 2024.
On March 11, 2024, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-FICC-2024-006 (``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 amend the
Clearing Agency Risk Management Framework of FICC and its affiliates,
The Depository Trust Company (``DTC'') and National Securities Clearing
Corporation (``NSCC,'' and together with FICC and DTC, the ``Clearing
Agencies'') to describe how the Clearing Agencies may solicit views of
participants and other industry stakeholders and to provide for the
annual assessment and subsequent review of FICC's Government Securities
Division access models by FICC's Board of Directors.\3\ The Proposed
Rule Change was published for public comment in the Federal Register on
March 26, 2024.\4\ The Commission has received comments regarding the
substance of the changes proposed in the Proposed Rule Change.\5\
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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 21068.
\4\ Securities Exchange Act Release No. 99805 (March 20, 2024),
89 FR 21068 (March 26, 2024) (File No. SR-FICC-2024-006) (``Notice
of Filing'').
\5\ Comments on the Proposed Rule Change are available at
<a href="https://www.sec.gov/comments/sr-ficc-2024-006/srficc2024006.htm">https://www.sec.gov/comments/sr-ficc-2024-006/srficc2024006.htm</a>.
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Section 19(b)(2)(i) of the Exchange Act \6\ 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.\7\ 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.\8\
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\6\ 15 U.S.C. 78s(b)(2)(i).
\7\ 15 U.S.C. 78 s(b)(2)(ii).
\8\ Id.
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The 45th day after publication of the Notice of Filing is May 10,
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,\9\ designates June 24, 2024, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-FICC-2024-
006.
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\9\ Id.
[[Page 42007]]
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-10435 Filed 5-13-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on May 14, 2024.
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