Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Extension of Review Period of Advance Notice To Implement Changes to the Method of Calculating Netting Members' Margin in the Government Securities Division Rulebook, 10761-10762 [2018-04903]

Download as PDF Federal Register / Vol. 83, No. 48 / Monday, March 12, 2018 / Notices 1. While the Exchange believes that members understand that the footnoted taker fees, which are provided to members that meet additional volume and other requirements, apply instead of rather than in addition to the taker fees charged to members that do not meet these requirements, the Exchange believes that spelling this out more explicitly will avoid any potential confusion. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that the proposed rule change will have any impact on competition as the proposed changes would merely clarify the Schedule of Fees by, among other things, adopting explicit definitions for certain common terms, and making other non-substantive changes. No changes to the actual fees charged to market participants are proposed, and members will continue to be charged the same fees as they are assessed under the Schedule of Fees today. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. amozie on DSK30RV082PROD with NOTICES 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)(ii) of the Act,7 and Rule b– 4 (f)(2) 8 thereunder. 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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. 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: SECURITIES AND EXCHANGE COMMISSION Electronic Comments [Release No. 34–82820; File No. SR–FICC– 2018–801] • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– MRX–2018–07 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–MRX–2018–07. 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 (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–MRX–2018–07 and should be submitted on or before April 2, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–04836 Filed 3–9–18; 8:45 am] BILLING CODE 8011–01–P U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 240.b–4 (f)(2). 7 15 VerDate Sep<11>2014 18:12 Mar 09, 2018 9 17 Jkt 244001 10761 PO 00000 Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Extension of Review Period of Advance Notice To Implement Changes to the Method of Calculating Netting Members’ Margin in the Government Securities Division Rulebook March 7, 2018. On January 12, 2018, the Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) advance notice SR–FICC–2018–801 (‘‘Advance Notice’’) 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’’) 1 and Rule 19b–4(n)(1)(i) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’).2 The Advance Notice was published for comment in the Federal Register on March 2, 2018.3 The Commission has received two comments on the proposal contained in the Advance Notice.4 1 12 U.S.C. 5465(e)(1). The Financial Stability Oversight Council designated FICC a systemically important financial market utility on July 18, 2012. See Financial Stability Oversight Council 2012 Annual Report, Appendix A, https:// www.treasury.gov/initiatives/fsoc/Documents/ 2012%20Annual%20Report.pdf. Therefore, FICC is required to comply with the Payment, Clearing and Settlement Supervision Act and file advance notices with the Commission. See 12 U.S.C. 5465(e). 2 17 CFR 240.19b–(n)(1)(i). 3 Securities Exchange Act Release No. 82779 (February 26, 2018), 83 FR 9055 (March 2, 2018) (SR–FICC–2018–801). FICC also filed a related proposed rule change (SR–FICC–2018–001) with the Commission pursuant to Section 19(b)(1) of the Exchange Act and Rule 19b–4 thereunder, seeking approval of changes to its rules necessary to implement the Advance Notice (‘‘Proposed Rule Change’’). 15 U.S.C. 78s(b)(1) and 17 CFR 240.19b– 4, respectively. The Proposed Rule Change was published in the Federal Register on February 1, 2018. Securities Exchange Act Release No. 82588 (January 26, 2018), 83 FR 4687 (February 1, 2018) (SR–FICC–2018–001). 4 See letter from Robert E. Pooler, Chief Financial Officer, Ronin Capital LLC, dated February 22, 2018, to Robert W. Errett, Deputy Secretary, Commission, available at https://www.sec.gov/ comments/sr-ficc-2018-001/ficc2018001-3133039161947.pdf; letter from Michael Santangelo, Chief Financial Officer, Amherst Pierpont Securities LLC, dated February 22, 2018, to Brent J. Fields, Secretary, Commission, available at https:// www.sec.gov/comments/sr-ficc-2018-001/ ficc2018001-3130095-161938.pdf. Since the proposal contained in the Advance Notice was also filed as a Proposed Rule Change, supra note 3, the Commission is considering all public comments CFR 200.30–3(a)(12). Frm 00106 Fmt 4703 Continued Sfmt 4703 E:\FR\FM\12MRN1.SGM 12MRN1 10762 Federal Register / Vol. 83, No. 48 / Monday, March 12, 2018 / Notices Section 806(e)(1)(G) of the Clearing Supervision Act provides that FICC may implement the changes if it has not received an objection to the proposed changes within 60 days of the later of (i) the date that the Commission receives the Advance Notice or (ii) the date that any additional information requested by the Commission is received,5 unless extended as described below. Pursuant to Section 806(e)(1)(H) of the Clearing Supervision Act, the Commission may extend the review period of an advance notice for an additional 60 days, if the changes proposed in the advance notice raise novel or complex issues, subject to the Commission providing the clearing agency with prompt written notice of the extension.6 Here, as the Commission has not requested any additional information, the date that is 60 days after FICC filed the Advance Notice with the Commission is March 13, 2018. However, the Commission finds the Advance Notice complex because FICC proposes to make detailed, substantial, and numerous changes to the GSD margin calculation. Therefore, the Commission finds it appropriate to extend the review period of the Advance Notice for an additional 60 days under Section 806(e)(1)(H) of the Clearing Supervision Act.7 Accordingly, the Commission, pursuant to Section 806(e)(1)(H) of the Clearing Supervision Act,8 extends the review period for an additional 60 days so that the Commission shall have until May 12, 2018 to issue an objection or non-objection to advance notice SR– FICC–2018–801. PLACE: By the Commission. Eduardo A. Aleman, Assistant Secretary. E.O. 13224 Designation of Ahmad Iman Ali, aka Sheikh Ahmed Iman Ali, Shaykh Ahmad Iman Ali, Ahmed Iman Ali, Abu Zinira as a Specially Designated Global Terrorist [FR Doc. 2018–04903 Filed 3–9–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, the Securities and Exchange Commission will hold an Open Meeting on Wednesday, March 14, 2018, at 10:30 a.m. amozie on DSK30RV082PROD with NOTICES TIME AND DATE: received on the proposal regardless of whether the comments were submitted to the Advance Notice or the Proposed Rule Change. 5 12 U.S.C. 5465(e)(1)(G). 6 12 U.S.C. 5465(e)(1)(H). 7 Id. 8 Id. VerDate Sep<11>2014 18:12 Mar 09, 2018 Jkt 244001 The meeting will be held in Auditorium LL–002 at the Commission’s headquarters, 100 F Street NE, Washington, DC 20549. STATUS: This meeting will begin at 10:30 a.m. (ET) and will be open to the public. Seating will be on a first-come, firstserved basis. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s website at www.sec.gov. MATTERS TO BE CONSIDERED: The subject matters of the Open Meeting will be the Commission’s consideration of: • Whether to propose a rule under Regulation NMS to conduct a Transaction Fee Pilot in NMS stocks. • Whether to propose amendments to Form N–PORT and Form N–1A related to disclosures of liquidity risk management for open end management investment companies. At times, changes in Commission priorities require alterations in the scheduling of meeting items. CONTACT PERSON FOR MORE INFORMATION: For further information and to ascertain what, if any, matters have been added, deleted or postponed; please contact Brent J. Fields from the Office of the Secretary at (202) 551–5400. Dated: March 7, 2018. Brent J. Fields, Secretary. [FR Doc. 2018–04967 Filed 3–8–18; 11:15 am] BILLING CODE 8011–01–P DEPARTMENT OF STATE [Public Notice: 10355] Acting under the authority of and in accordance with section 1(b) of Executive Order 13224 of September 23, 2001, as amended by Executive Order 13268 of July 2, 2002, and Executive Order 13284 of January 23, 2003, I hereby determine that the person known as Ahmad Iman Ali, also known as Sheikh Ahmed Iman Ali, also known as Shaykh Ahmad Iman Ali, also known as Ahmed Iman Ali, also known as Abu Zinira, committed, or poses a significant risk of committing, acts of terrorism that threaten the security of U.S. nationals or the national security, foreign policy, or economy of the United States. Consistent with the determination in section 10 of Executive Order 13224 that prior notice to persons determined to be subject to the Order who might have a PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 constitutional presence in the United States would render ineffectual the blocking and other measures authorized in the Order because of the ability to transfer funds instantaneously, I determine that no prior notice needs to be provided to any person subject to this determination who might have a constitutional presence in the United States, because to do so would render ineffectual the measures authorized in the Order. This notice shall be published in the Federal Register. Dated: January 17, 2018. Rex W. Tillerson, Secretary of State. [FR Doc. 2018–04878 Filed 3–9–18; 8:45 am] BILLING CODE 4710–AD–P DEPARTMENT OF STATE [Public Notice: 10351] Waiver of Missile Proliferation Sanctions Against Foreign Persons Department of State. Notice. AGENCY: ACTION: A determination has been made pursuant to the Arms Export Control Act and Export Administration Act (as carried out under Executive Order 13222 of August 17, 2001). SUPPLEMENTARY INFORMATION: Consistent with section 654(c) of the Foreign Assistance Act of 1961, as amended, notice is hereby given that the Secretary of State has made a determination pursuant to Section 73 of the Arms Export Control Act (22 U.S.C. 2797b) and Section 11B(b) of the Export Administration Act of 1979 (50 U.S.C. app. 2410b(b)), as carried out under Executive Order 13222 of August 17, 2001, and has concluded that publication of the determination would be harmful to the national security of the United States. SUMMARY: Christopher A. Ford, Assistant Secretary of State for International Security and Nonproliferation. [FR Doc. 2018–04929 Filed 3–9–18; 8:45 am] BILLING CODE 4710–27–P DEPARTMENT OF STATE [Public Notice: 10354] E.O. 13224 Designation of Abdifatah Abubakar Abdi, aka Musa Muhajir as a Specially Designated Global Terrorist Acting under the authority of and in accordance with section 1(b) of Executive Order 13224 of September 23, 2001, as amended by Executive Order E:\FR\FM\12MRN1.SGM 12MRN1

Agencies

[Federal Register Volume 83, Number 48 (Monday, March 12, 2018)]
[Notices]
[Pages 10761-10762]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04903]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82820; File No. SR-FICC-2018-801]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Extension of Review Period of Advance Notice To Implement 
Changes to the Method of Calculating Netting Members' Margin in the 
Government Securities Division Rulebook

March 7, 2018.
    On January 12, 2018, the Fixed Income Clearing Corporation 
(``FICC'') filed with the Securities and Exchange Commission 
(``Commission'') advance notice SR-FICC-2018-801 (``Advance Notice'') 
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'') \1\ and Rule 19b-4(n)(1)(i) under the Securities 
Exchange Act of 1934 (``Exchange Act'').\2\ The Advance Notice was 
published for comment in the Federal Register on March 2, 2018.\3\ The 
Commission has received two comments on the proposal contained in the 
Advance Notice.\4\
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 5465(e)(1). The Financial Stability Oversight 
Council designated FICC a systemically important financial market 
utility on July 18, 2012. See Financial Stability Oversight Council 
2012 Annual Report, Appendix A, https://www.treasury.gov/initiatives/fsoc/Documents/2012%20Annual%20Report.pdf. Therefore, FICC is 
required to comply with the Payment, Clearing and Settlement 
Supervision Act and file advance notices with the Commission. See 12 
U.S.C. 5465(e).
    \2\ 17 CFR 240.19b-(n)(1)(i).
    \3\ Securities Exchange Act Release No. 82779 (February 26, 
2018), 83 FR 9055 (March 2, 2018) (SR-FICC-2018-801). FICC also 
filed a related proposed rule change (SR-FICC-2018-001) with the 
Commission pursuant to Section 19(b)(1) of the Exchange Act and Rule 
19b-4 thereunder, seeking approval of changes to its rules necessary 
to implement the Advance Notice (``Proposed Rule Change''). 15 
U.S.C. 78s(b)(1) and 17 CFR 240.19b-4, respectively. The Proposed 
Rule Change was published in the Federal Register on February 1, 
2018. Securities Exchange Act Release No. 82588 (January 26, 2018), 
83 FR 4687 (February 1, 2018) (SR-FICC-2018-001).
    \4\ See letter from Robert E. Pooler, Chief Financial Officer, 
Ronin Capital LLC, dated February 22, 2018, to Robert W. Errett, 
Deputy Secretary, Commission, available at https://www.sec.gov/comments/sr-ficc-2018-001/ficc2018001-3133039-161947.pdf; letter 
from Michael Santangelo, Chief Financial Officer, Amherst Pierpont 
Securities LLC, dated February 22, 2018, to Brent J. Fields, 
Secretary, Commission, available at https://www.sec.gov/comments/sr-ficc-2018-001/ficc2018001-3130095-161938.pdf. Since the proposal 
contained in the Advance Notice was also filed as a Proposed Rule 
Change, supra note 3, the Commission is considering all public 
comments received on the proposal regardless of whether the comments 
were submitted to the Advance Notice or the Proposed Rule Change.

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[[Page 10762]]

    Section 806(e)(1)(G) of the Clearing Supervision Act provides that 
FICC may implement the changes if it has not received an objection to 
the proposed changes within 60 days of the later of (i) the date that 
the Commission receives the Advance Notice or (ii) the date that any 
additional information requested by the Commission is received,\5\ 
unless extended as described below.
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    \5\ 12 U.S.C. 5465(e)(1)(G).
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    Pursuant to Section 806(e)(1)(H) of the Clearing Supervision Act, 
the Commission may extend the review period of an advance notice for an 
additional 60 days, if the changes proposed in the advance notice raise 
novel or complex issues, subject to the Commission providing the 
clearing agency with prompt written notice of the extension.\6\
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    \6\ 12 U.S.C. 5465(e)(1)(H).
---------------------------------------------------------------------------

    Here, as the Commission has not requested any additional 
information, the date that is 60 days after FICC filed the Advance 
Notice with the Commission is March 13, 2018. However, the Commission 
finds the Advance Notice complex because FICC proposes to make 
detailed, substantial, and numerous changes to the GSD margin 
calculation. Therefore, the Commission finds it appropriate to extend 
the review period of the Advance Notice for an additional 60 days under 
Section 806(e)(1)(H) of the Clearing Supervision Act.\7\
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    \7\ Id.
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    Accordingly, the Commission, pursuant to Section 806(e)(1)(H) of 
the Clearing Supervision Act,\8\ extends the review period for an 
additional 60 days so that the Commission shall have until May 12, 2018 
to issue an objection or non-objection to advance notice SR-FICC-2018-
801.
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    \8\ Id.

    By the Commission.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-04903 Filed 3-9-18; 8:45 am]
 BILLING CODE 8011-01-P
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