Notice2026-18815
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Partial Amendment No. 1, To Establish a Guaranty Fund at the Government Securities Division
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 15, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 177 (Tuesday, September 15, 2026)</title>
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[Federal Register Volume 91, Number 177 (Tuesday, September 15, 2026)]
[Notices]
[Pages 58513-58514]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-18815]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-106318; File No. SR-FICC-2026-008]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change, as Modified by Partial Amendment No. 1, To
Establish a Guaranty Fund at the Government Securities Division
September 10, 2026.
On July 24, 2026, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-FICC-2026-008 pursuant to Section 19(b) of the
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
\2\ thereunder to modify FICC's Government Securities Division
(``GSD'') Rulebook (``GSD Rules'') \3\ to establish a guaranty fund
designed to cover losses that may arise due to a Member default or non-
default loss event.\4\ On August 4, 2026, FICC filed Partial Amendment
No. 1 to make clarifications and corrections to the proposed rule
change (the proposed rule change, as modified by Partial Amendment No.
1, is hereinafter referred to as the ``Proposed Rule Change'').\5\ The
Proposed Rule Change was published for public comment in the Federal
Register on August 11, 2026.\6\ The Commission has received comments
regarding the substance of the changes proposed in the Proposed Rule
Change.\7\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Terms not defined herein are defined in the GSD Rules,
available at www.dtcc.com/~/media/Files/Downloads/legal/rules/
ficc_gov_rules.pdf.
\4\ See Notice of Filing, infra note 6.
\5\ Partial Amendment No. 1 made certain changes the description
of the proposed rule changes that were incorporated, as appropriate,
into the description of the proposed rule change in the Notice of
Filing, infra note 6.
\6\ Securities Exchange Act Release No. 106053 (Aug. 6, 2026),
91 FR 51762 (Aug. 11, 2026) (File No. SR-FICC-2026-008) (``Notice of
Filing''). FICC also filed a related advance notice (SR-FICC-2026-
802) 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 (``Clearing Supervision Act'') and Rule 19b-4 under the Act, 17
CFR 240.19b-4. On August 4, 2026, FICC filed Partial Amendment No. 1
to the advance notice to make the same clarifications and
corrections to the advance notice as Partial Amendment No. 1 to the
proposed rule change. The advance notice, as modified by Partial
Amendment No. 1, was published in the Federal Register on August 11,
2026. Securities Exchange Act Release No. 106054 (Aug. 6. 2026), 91
FR 51787 (Aug. 11, 2026) (File No. SR-FICC-2026-802).
\7\ Comments on the Proposed Rule Change are available at
<a href="https://www.sec.gov/rules-regulations/public-comments/sr-ficc-2026-008">https://www.sec.gov/rules-regulations/public-comments/sr-ficc-2026-008</a>.
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Section 19(b)(2)(i) of the Exchange Act \8\ 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.\9\ 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.\10\
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\8\ 15 U.S.C. 78s(b)(2)(i).
\9\ 15 U.S.C. 78s(b)(2)(ii).
\10\ Id.
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The 45th day after publication of the Notice of Filing is September
25, 2026. 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,\11\ designates November 9, 2026, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-FICC-2026-
008.
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\11\ Id.
[[Page 58514]]
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-18815 Filed 9-14-26; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 15, 2026.
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