Notice2025-08116
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Adopt an Intraday Mark-To-Market Charge 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
May 9, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 90 Issue 89 (Friday, May 9, 2025)</title>
</head>
<body><pre>
[Federal Register Volume 90, Number 89 (Friday, May 9, 2025)]
[Notices]
[Page 19755]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-08116]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102986; File No. SR-FICC-2025-005]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change To Adopt an Intraday Mark-To-Market Charge at GSD
May 5, 2025.
On March 14, 2025, Fixed Income Clearing Corporation (``FICC''),
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-FICC-2025-005 (``Proposed Rule Change''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 \2\ thereunder to adopt an Intraday Mark-
to-Market Charge at FICC's Government Securities Division (``GSD'').\3\
The Proposed Rule Change was published for public comment in the
Federal Register on March 27, 2025.\4\ The Commission has received
comments regarding the substance of the changes proposed in the
Proposed Rule Change.\5\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Notice of Filing, infra note 4, at 90 FR 13965.
\4\ Securities Exchange Act Release No. 102705 (Mar. 21, 2025),
90 FR 13965 (Mar. 27, 2025)(File No. SR-FICC-2025-005)(``Notice of
Filing'').
\5\ Comments on the Proposed Rule Change are available at
<a href="https://www.sec.gov/comments/sr-ficc-2025-005/srficc2025005.htm">https://www.sec.gov/comments/sr-ficc-2025-005/srficc2025005.htm</a>.
---------------------------------------------------------------------------
Section 19(b)(2) 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\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(2).
\7\ 15 U.S.C. 78s(b)(2)(ii).
\8\ Id.
---------------------------------------------------------------------------
The 45th day after publication of the Notice of Filing is May 11,
2025. 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 act 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 25, 2025, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-FICC-2025-
005.
---------------------------------------------------------------------------
\9\ See note 6, supra.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-08116 Filed 5-8-25; 8:45 am]
BILLING CODE 8011-01-P
</pre></body>
</html>Indexed from Federal Register on May 9, 2025.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.