Self-Regulatory Organizations; National Securities Clearing Corporation; Order Approving Proposed Rule Change To Amend NSCC's Rules and Procedures in Connection With the Discontinuance of the Analytic Reporting Service, 4000-4001 [2015-01251]

Download as PDF 4000 Federal Register / Vol. 80, No. 16 / Monday, January 26, 2015 / Notices trust funds in the position they would have been if railroad service had been covered by the Social Security and FIC Acts. Changes proposed: The RRB proposes to formally eliminate the paper and magnetic tape cartridge versions of Annual responses Form No. BA–11 BA–11 BA–11 BA–11 BA–11 Form BA–11 from the information collection. The burden estimate for the ICR is as follows: Time (minutes) Burden (hours) File Transfer Protocol ...................................................................................................... CD–ROM ......................................................................................................................... Secure E-mail .................................................................................................................. (Internet)—Positive .......................................................................................................... (Internet)—Negative ......................................................................................................... 7 5 5 137 329 300 (5 hours) 30 30 30 15 35 2 2 68 82 Total ...................................................................................................................................... 483 ........................ 189 Additional Information or Comments: Copies of the forms and supporting documents can be obtained from Dana Hickman at (312) 751–4981 or Dana.Hickman@RRB.GOV. Comments regarding the information collection should be addressed to Charles Mierzwa, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois, 60611–2092 or Charles.Mierzwa@RRB.GOV and to the OMB Desk Officer for the RRB, Fax: 202–395–6974, Email address: OIRA_ Submission@omb.eop.gov. Charles Mierzwa, Chief of Information Resources Management. [FR Doc. 2015–01299 Filed 1–23–15; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–9707; 34–74106; File No. 265–28] Investor Advisory Committee Meeting Securities and Exchange Commission. ACTION: Notice of meeting of Securities and Exchange Commission Dodd-Frank Investor Advisory Committee. AGENCY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, is providing notice that it will hold a public meeting. The public is invited to submit written statements to the Committee. DATES: The meeting will be held on Thursday, February 12, 2015 from 10 a.m. until 4 p.m. (ET). Written statements should be received on or before February 12, 2015. ADDRESSES: The meeting will be held in Multi-Purpose Room LL–006 at the Commission’s headquarters, 100 F Street NE., Washington, DC 20549. The emcdonald on DSK67QTVN1PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:48 Jan 23, 2015 Jkt 235001 meeting will be webcast on the Commission’s Web site at www.sec.gov. Written statements may be submitted by any of the following methods: Electronic Statements D Use the Commission’s Internet submission form (https://www.sec.gov/ rules/other.shtml); or D Send an email message to rulescomments@sec.gov. Please include File No. 265–28 on the subject line; or Paper Statements D Send paper statements to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File No. 265–28. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. Statements also will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Room 1580, Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All statements received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Marc Sharma, Senior Special Counsel, Office of the Investor Advocate, at (202) 551–3302, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. SUPPLEMENTARY INFORMATION: The meeting will be open to the public, except during portions of the meeting reserved for meetings of the Committee’s subcommittees. Persons needing special accommodations to take part because of a disability should notify the contact person listed in FOR FURTHER INFORMATION CONTACT. PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 The agenda for the meeting includes: Remarks from Commissioners; a recommendation of the Market Structure subcommittee on shortening the trade settlement cycle; a discussion of proxy access; an update on the rule proposal of the Financial Industry Regulatory Authority (‘‘FINRA’’) regarding implementation of the Comprehensive Automated Risk Data System; an update on Municipal Securities Rulemaking Board and FINRA proposals for improved disclosures for same-day, retail-size principal transactions in fixed income securities; and nonpublic subcommittee meetings. Dated: January 21, 2015. Brent J. Fields, Secretary. [FR Doc. 2015–01275 Filed 1–23–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74098; File No. SR–NSCC– 2014–12] Self-Regulatory Organizations; National Securities Clearing Corporation; Order Approving Proposed Rule Change To Amend NSCC’s Rules and Procedures in Connection With the Discontinuance of the Analytic Reporting Service January 20, 2015. I. Introduction On November 25, 2014, National Securities Clearing Corporation (‘‘NSCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–NSCC–2014– 12 (‘‘Proposed Rule Change’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder.2 The Proposed Rule 1 15 2 17 E:\FR\FM\26JAN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 26JAN1 Federal Register / Vol. 80, No. 16 / Monday, January 26, 2015 / Notices Change was published for comment in the Federal Register on December 12, 2014.3 The Commission did not receive any comments on the Proposed Rule Change. This order approves the Proposed Rule Change. II. Description NSCC filed the Proposed Rule Change to modify its Rules, By-Laws, and Organization Certificate to discontinue the Analytic Reporting Service (‘‘Service’’). With the Proposed Rule Change, NSCC seeks to eliminate the Service because there is limited interest and it is not recovering its costs of maintaining the Service. NSCC launched the Service in 2011 to provide NSCC members (‘‘Members’’) access to aggregated-insurance-products information, including benchmarking information and league tables (‘‘Analytics Data’’).4 The Analytics Data comes primarily from data transmitted to NSCC by Members from NSCC’s other insurance and retirement service. In 2013, at the request of Members, NSCC enhanced the Service to include insurance-transaction data processed outside of NSCC but submitted to NSCC.5 Members access the Service via a paid subscription. However, since its launch, there have been few subscribers, with only 12 Members currently subscribing. As such, NSCC states that it is not recovering the cost of maintaining the Service and proposes to eliminate it. III. Discussion emcdonald on DSK67QTVN1PROD with NOTICES Section 19(b)(2)(C) of the Act 6 directs the Commission to approve a proposed rule change of a self-regulatory organization if it finds that such proposed rule change is consistent with the requirements of the Act and rules and regulations thereunder applicable to such organization. Section 17A(b)(3)(F) of the Act requires, among other things, that the rules of a clearing agency be designed to promote the prompt and accurate clearance and settlement of securities transactions.7 The Commission finds the Proposed Rule Change consistent with the Act. More specifically, the Commission finds that the Proposed Rule Change is consistent with Section 17A(b)(3)(F) of 3 Securities Exchange Act Release No. 73779 (December 8, 2014), 79 FR 73938 (December 12, 2014) (SR–NSCC–2014–12). 4 Securities Exchange Act Release No. 63604 (December 23, 2010), 75 FR 82115 (December 29, 2010) (SR–NSCC–2010–18). 5 Securities Exchange Act Release No. 69824 (June 21, 2013), 78 FR 38743 (June 27, 2013) (SR– NSCC–2013–08). 6 15 U.S.C. 78s(b)(2)(C). 7 15 U.S.C. 78q–1(b)(3)(F). VerDate Sep<11>2014 18:48 Jan 23, 2015 Jkt 235001 the Act.8 By eliminating a service that is not economically efficient to maintain or central to NSCC’s core clearing business, NSCC will be able to better allocate its economic resources to support the safeguarding of securities or funds in its custody or control, and promote the prompt and accurate clearance and settlement of securities transactions. IV. Conclusion On the basis of the foregoing, the Commission finds that the Proposed Rule Change is consistent with the requirements of the Act and in particular with the requirements of Section 17A of the Act 9 and the rules and regulations thereunder. It is therefore ordered, pursuant to Section 19(b)(2) of the Act, that proposed rule change SR–NSCC–2014– 12 be, and hereby is, approved.10 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Brent J. Fields, Secretary. [FR Doc. 2015–01251 Filed 1–23–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74091; File No. SR–OCC– 2014–811] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of an Advance Notice, and Amendment No. 1 Thereto, To Establish Procedures Regarding the Monthly Resizing of its Clearing Fund and the Addition of Financial Resources January 20, 2015. 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 (‘‘Payment, Clearing and Settlement Supervision Act’’) 1 and Rule 19b– 4(n)(1)(i) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 2 notice is hereby given that on December 1, 2014, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) 8 Id. 9 15 U.S.C. 78q–1. approving the proposed rule change, the Commission considered the proposal’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 11 17 CFR 200.30–3(a)(12). 1 12 U.S.C. 5465(e)(1). 2 17 CFR 240.19b–4(n)(1)(i). 10 In PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 4001 the advance notice as described in Items I, II and III below, which Items have been prepared by OCC. On December 16, 2014, OCC filed amendment no. 1 to the advance notice (‘‘Amendment No. 1’’).3 This Amendment No. 1 amends and replaces, in its entirety, the advance notice as originally filed on December 1, 2014. The Commission is publishing this notice to solicit comments on the advance notice, as amended, from interested persons. I. Clearing Agency’s Statement of the Terms of Substance of the Advance Notice This advance notice is filed by OCC in connection with OCC’s proposal to establish procedures regarding the monthly resizing of its Clearing Fund and the addition of financial resources through intra-day margin calls and/or an intra-month increase of the Clearing Fund to ensure that it maintains adequate financial resources in the event of a default of a Clearing Member or group of affiliated Clearing Members presenting the largest exposure to OCC. II. Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Advance Notice In its filing with the Commission, OCC included statements concerning the purpose of and basis for the advance notice and discussed any comments it received on the advance notice. The text of these statements may be examined at the places specified in Item IV below. OCC has prepared summaries, set forth in sections (A) and (B) below, of the most significant aspects of these statements. (A) Clearing Agency’s Statement on Comments on the Advance Notice Received From Members, Participants or Others Written comments on the advance notice were not and are not intended to be solicited with respect to the advance notice and none have been received. (B) Advance Notices Filed Pursuant to Section 806(e) of the Payment, Clearing and Settlement Supervision Act This Amendment No. 1 to SR–OCC– 2014–811 (‘‘Filing’’) amends and replaces in its entirety the Filing as originally submitted on December 1, 2014. The purpose of this Amendment 3 In Amendment No. 1, OCC amended the advance notice to include the Monthly Clearing Fund Sizing Procedure and the Financial Resource Monitoring and Call Procedure as exhibits to the filing, both defined hereinafter, as Exhibit 5A and Exhibit 5B, respectively. OCC has requested confidential treatment for Exhibit 5A and Exhibit 5B pursuant to the Rule 24b–2 under the Exchange Act. E:\FR\FM\26JAN1.SGM 26JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 16 (Monday, January 26, 2015)]
[Notices]
[Pages 4000-4001]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01251]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74098; File No. SR-NSCC-2014-12]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Order Approving Proposed Rule Change To Amend NSCC's Rules 
and Procedures in Connection With the Discontinuance of the Analytic 
Reporting Service

January 20, 2015.

I. Introduction

    On November 25, 2014, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') proposed rule change SR-NSCC-2014-12 (``Proposed Rule 
Change'') pursuant to Section 19(b)(1) of the Securities Exchange Act 
of 1934 (``Act'') \1\ and Rule 19b-4 thereunder.\2\ The Proposed Rule

[[Page 4001]]

Change was published for comment in the Federal Register on December 
12, 2014.\3\ The Commission did not receive any comments on the 
Proposed Rule Change. This order approves the Proposed Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 73779 (December 8, 
2014), 79 FR 73938 (December 12, 2014) (SR-NSCC-2014-12).
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II. Description

    NSCC filed the Proposed Rule Change to modify its Rules, By-Laws, 
and Organization Certificate to discontinue the Analytic Reporting 
Service (``Service''). With the Proposed Rule Change, NSCC seeks to 
eliminate the Service because there is limited interest and it is not 
recovering its costs of maintaining the Service.
    NSCC launched the Service in 2011 to provide NSCC members 
(``Members'') access to aggregated-insurance-products information, 
including benchmarking information and league tables (``Analytics 
Data'').\4\ The Analytics Data comes primarily from data transmitted to 
NSCC by Members from NSCC's other insurance and retirement service. In 
2013, at the request of Members, NSCC enhanced the Service to include 
insurance-transaction data processed outside of NSCC but submitted to 
NSCC.\5\
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    \4\ Securities Exchange Act Release No. 63604 (December 23, 
2010), 75 FR 82115 (December 29, 2010) (SR-NSCC-2010-18).
    \5\ Securities Exchange Act Release No. 69824 (June 21, 2013), 
78 FR 38743 (June 27, 2013) (SR-NSCC-2013-08).
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    Members access the Service via a paid subscription. However, since 
its launch, there have been few subscribers, with only 12 Members 
currently subscribing. As such, NSCC states that it is not recovering 
the cost of maintaining the Service and proposes to eliminate it.

III. Discussion

    Section 19(b)(2)(C) of the Act \6\ directs the Commission to 
approve a proposed rule change of a self-regulatory organization if it 
finds that such proposed rule change is consistent with the 
requirements of the Act and rules and regulations thereunder applicable 
to such organization. Section 17A(b)(3)(F) of the Act requires, among 
other things, that the rules of a clearing agency be designed to 
promote the prompt and accurate clearance and settlement of securities 
transactions.\7\
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    \6\ 15 U.S.C. 78s(b)(2)(C).
    \7\ 15 U.S.C. 78q-1(b)(3)(F).
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    The Commission finds the Proposed Rule Change consistent with the 
Act. More specifically, the Commission finds that the Proposed Rule 
Change is consistent with Section 17A(b)(3)(F) of the Act.\8\ By 
eliminating a service that is not economically efficient to maintain or 
central to NSCC's core clearing business, NSCC will be able to better 
allocate its economic resources to support the safeguarding of 
securities or funds in its custody or control, and promote the prompt 
and accurate clearance and settlement of securities transactions.
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    \8\ Id.
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IV. Conclusion

    On the basis of the foregoing, the Commission finds that the 
Proposed Rule Change is consistent with the requirements of the Act and 
in particular with the requirements of Section 17A of the Act \9\ and 
the rules and regulations thereunder.
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    \9\ 15 U.S.C. 78q-1.
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    It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 
that proposed rule change SR-NSCC-2014-12 be, and hereby is, 
approved.\10\
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    \10\ In approving the proposed rule change, the Commission 
considered the proposal's impact on efficiency, competition, and 
capital formation. 15 U.S.C. 78c(f).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-01251 Filed 1-23-15; 8:45 am]
BILLING CODE 8011-01-P

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