Notice2025-18139
Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make Technical Changes Relating to DTC's Contact Phone Numbers and Web Pages
Primary source
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Published
September 19, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 180 (Friday, September 19, 2025)</title>
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[Federal Register Volume 90, Number 180 (Friday, September 19, 2025)]
[Notices]
[Pages 45267-45268]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-18139]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103978; File No. SR-DTC-2025-012]
Self-Regulatory Organizations; The Depository Trust Company;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Make Technical Changes Relating to DTC's Contact Phone Numbers and Web
Pages
September 16, 2025.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on September 8, 2025, The Depository Trust Company (``DTC'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I, II and III below, which Items have
been prepared by the clearing agency. DTC filed the proposed rule
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(4) thereunder.\4\ The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(4).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The proposed rule change consists of amendments to update all eight
DTC services guides and the DTC Operational Arrangements (Necessary for
Securities to Become and Remain Eligible for DTC Services)
(collectively, ``DTC Procedures'') \5\ to (i) replace The Depository
Trust and Clearing Corporation (``DTCC'') \6\ main hotline phone number
with directions for accessing the DTCC Client Center web page, (ii)
update hyperlinks with more current hyperlinks, (iii) update where,
how, or from whom certain information may be obtained or provided, and
(iv) make other conforming, technical, and ministerial changes.\7\
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\5\ In addition to the Operational Arrangements, the eight DTC
service guides to be updated are the ClaimConnect<SUP>TM</SUP>
Service Guide, Custody Service Guide, Deposits Service Guide,
Distributions Service Guide, Redemptions Service Guide,
Reorganizations Service Guide, Settlement Service Guide, and
Underwriting Service Guide. Terms not defined herein are defined in
the DTC Procedures, available at <a href="http://www.dtcc.com/legal/rules-and-procedures.aspx">www.dtcc.com/legal/rules-and-procedures.aspx</a>. The DTC Procedures are a Procedure of DTC. Pursuant
to the DTC Rules, the term ``Procedures'' means the Procedures,
service guides, and regulations of DTC adopted pursuant to DTC Rule
27, as amended from time to time. See DTC Rule 1, Section 1, infra
note 7. They are binding on DTC and each Participant in the same
manner that they are bound by the DTC Rules.
\6\ DTC is a subsidiary of DTCC. DTCC operates on a shared
service model with respect to DTC and other subsidiaries. Most
corporate functions are established and managed on an enterprise-
wide basis pursuant to intercompany agreements under which it is
generally DTCC that provides relevant services to DTC.
\7\ Capitalized terms not defined herein shall have the meaning
assigned to such terms in the Rules, By-Laws and Organization
Certificate of DTC (``DTC Rules''), available at <a href="http://www.dtcc.com/-/media/Files/Downloads/legal/rules/dtc_rules.pdf">www.dtcc.com/-/media/Files/Downloads/legal/rules/dtc_rules.pdf</a>.
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
In its filing with the Commission, the clearing agency included
statements concerning the purpose of and basis for the proposed rule
change and discussed any comments it received on the proposed rule
change. The text of these statements may be examined at the places
specified in Item IV below. The clearing agency has prepared summaries,
set forth in sections A, B, and C below, of the most significant
aspects of such statements.
(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
1. Purpose
Pursuant to Section 19(b)(1) of the Act, and Rule 19b-4 thereunder,
DTC is filing with the Commission a proposed rule change to update the
DTC Procedures to (i) replace the DTCC main hotline phone number with
directions for accessing the DTCC Client Center web page, (ii) update
hyperlinks with more current hyperlinks, (iii) update where, how, or
from whom certain information may be obtained or provided, and (iv)
make other conforming, technical, and ministerial changes.
DTC proposes several changes to the DTC Procedures to update,
clarify, and improve certain directional information contained in the
procedures. First, DTC will remove the DTCC main hotline phone number
(1-888-382-2721) (``main phone number'') and, instead, direct
Participants to the DTCC Client Center. DTCC created the DTCC Client
Center, an online portal where Participants can access a consolidated
and streamlined client-facing phone number structure, to provide a more
intuitive and efficient navigation system where Participants can
identify a direct phone number for each business line, reducing the
need to navigate menus and multiple prompts.\8\ The DTCC Client Center
is designed to improve DTC's overall response time and ability to
address Participant's inquiries.
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\8\ Available at <a href="https://www.dtcc.com/client-center">https://www.dtcc.com/client-center</a>.
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The new phone numbers were published on the DTCC Client Center in
June 2025. Although DTC proposes to update the DTC Procedures now, to
ensure a seamless experience for Participants, DTCC will keep the main
phone number active, along with the new phone numbers, until the main
phone number is decommissioned at the end of 2026.
Second, DTC proposes to update several outdated hyperlinks in the
DTC Procedures with more current hyperlinks, so that Participants have
more direct and efficient access to the information sought.
Third, DTC proposes to update where, how, or from whom certain
information may be obtained or provided. More specifically, the DTC
Procedures will be updated, where necessary, to direct Participants to
their relationship manager, a particular email address, a web page, or
a transfer agent \9\ in order to best obtain or provide the applicable
information.
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\9\ The proposed rule change in the Deposits Service Guide
regarding SBA Form 1088 (Form of Detached Assignment) (``SBA Form
1088'') removes reference to a web page affiliated with Colson
Services, a transfer agent that previously serviced SBA issues. To
avoid providing potentially stale information in the future, DTC
will simply direct Participants to obtain SBA Form 1088 from their
transfer agent.
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Finally, DTC proposes making other conforming, technical, and
ministerial changes to the DTC Procedures.
Implementation Timeframe
The proposed changes would be implemented upon filing.
2. Statutory Basis
Section 17A(b)(3)(F) of the Act requires, in part, that the Rules
be designed to promote the prompt and accurate clearance and settlement
of securities transactions and to protect investors and the public
interest.\10\ DTC believes the proposed rule change is consistent with
Section 17A(b)(3)(F) of the Act.
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\10\ 15 U.S.C. 78q-1(b)(3)(F).
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As described above, the proposed rule change would (i) replace the
main phone number with directions for accessing the DTCC Client Center
web page, (ii) update hyperlinks with more current hyperlinks, (iii)
update where, how, or from whom certain information
[[Page 45268]]
may be obtained or provided, and (iv) make other conforming, technical,
and ministerial changes. These changes are intended to provide
Participants with a more intuitive and efficient system to contact DTC
and to ensure Participants have the most current and accurate
information regarding obtaining or providing information and,
generally, DTC's services, thus enabling Participants to be better
informed on how they may engage and use DTC for securities
transactions. Therefore, DTC believes that the proposed rule change
would help promote the prompt and accurate clearance and settlement of
securities transactions, consistent with the requirements of the Act,
in particular Section 17A(b)(3)(F) of the Act, cited above.
(B) Clearing Agency's Statement on Burden on Competition
Section 17A(b)(3)(I) of the Act \11\ requires that the rules of the
clearing agency do not impose any burden on competition not necessary
or appropriate in furtherance of the Act. DTC does not believe that the
proposed rule change would impose a burden or otherwise have a
significant impact on competition. As described above, the proposed
rule change simply modifies the DTC Procedures to update, clarify, and
improve certain directional information so that Participants have the
most current and accurate information regarding obtaining or providing
information on DTC's services. Thus, the proposed rule change should
not have any competitive impact on Participants or their use of DTC's
services.
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\11\ 15 U.S.C. 78q-1(b)(3)(I).
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(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants, or Others
DTC has not received or solicited any written comments relating to
this proposal. If any written comments are received, they will be
publicly filed as an Exhibit 2 to this filing, as required by Form 19b-
4 and the General Instructions thereto.
Persons submitting comments are cautioned that, according to
Section IV (Solicitation of Comments) of the Exhibit 1A in the General
Instructions to Form 19b-4, the Commission does not edit personal
identifying information from comment submissions. Commenters should
submit only information that they wish to make available publicly,
including their name, email address, and any other identifying
information.
All prospective commenters should follow the Commission's
instructions on how to submit comments, available at <a href="http://www.sec.gov/rules-regulations/how-submit-comment">www.sec.gov/rules-regulations/how-submit-comment</a>. General questions regarding the rule
filing process or logistical questions regarding this filing should be
directed to the Main Office of the SEC's Division of Trading and
Markets at <a href="/cdn-cgi/l/email-protection#f084829194999e97919e949d91829b958483b0839593de979f86"><span class="__cf_email__" data-cfemail="9ce8eefdf8f5f2fbfdf2f8f1fdeef7f9e8efdceff9ffb2fbf3ea">[email protected]</span></a> or 202-551-5777.
DTC reserves the right to not respond to any comments received.
III. Date of Effectiveness of the Proposed Rule Change, and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \12\ and paragraph (f) of Rule 19b-4
thereunder.\13\ At any time within 60 days of the filing of the
proposed rule change, the Commission summarily may temporarily suspend
such rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act.
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\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#740601181159171b1919111a0007340711175a131b02"><span class="__cf_email__" data-cfemail="b6c4c3dad39bd5d9dbdbd3d8c2c5f6c5d3d598d1d9c0">[email protected]</span></a>. Please include
file number SR-DTC-2025-012 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549.
All submissions should refer to File Number SR-DTC-2025-012. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (<a href="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>).
Copies of the filing also will be available for inspection and copying
at the principal office of DTC and on DTCC's website (<a href="https://dtcc.com/legal/sec-rule-filings.aspx">https://dtcc.com/legal/sec-rule-filings.aspx</a>). Do not include personal identifiable
information in submissions; you should submit only information that you
wish to make available publicly. We may redact in part or withhold
entirely from publication submitted material that is obscene or subject
to copyright protection. All submissions should refer to file number to
File Number SR-DTC-2025-012 and should be submitted on or before
October 10, 2025.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2025-18139 Filed 9-18-25; 8:45 am]
BILLING CODE 8011-01-P
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