Self-Regulatory Organizations; Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Concerning Updates to and Formalization of OCC's Recovery and Orderly Wind-Down Plan, 29843-29844 [2018-13638]

Download as PDF Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices 19(b)(3)(A) of the Act 7 and Rule 19b– 4(f)(6) thereunder.8 A proposed rule change filed pursuant to Rule 19b–4(f)(6) under the Act 9 normally does not become operative for 30 days after the date of its filing. However, Rule 19b–4(f)(6)(iii) 10 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay so that the proposed rule change may become operative upon filing. The proposed rule change merely relocates the co-location and direct connectivity rules in the Exchange’s Schedule of Fees, as well as corrects a technical error.11 Accordingly, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest and hereby waives the operative delay and designates the proposed rule change operative upon filing.12 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. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule change 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: 7 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 9 17 CFR 240.19b–4(f)(6). 10 17 CFR 240.19b–4(f)(6)(iii). 11 Specifically, with respect to Point of Presence (POP) Connectivity, the Exchange corrects an incorrect reference to GEMX in the rule text to ISE. 12 For purposes only of waiving the 30-day operative delay, the Commission also has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). sradovich on DSK3GMQ082PROD with NOTICES 8 17 VerDate Sep<11>2014 17:24 Jun 25, 2018 Jkt 244001 Electronic Comments • 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– ISE–2018–54 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–ISE–2018–54. 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–ISE–2018–54, and should be submitted on or before July 17, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–13616 Filed 6–25–18; 8:45 am] BILLING CODE 8011–01–P 13 17 PO 00000 CFR 200.30–3(a)(12). Frm 00103 Fmt 4703 Sfmt 4703 29843 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83485; File No. SR–OCC– 2017–021] Self-Regulatory Organizations; Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Concerning Updates to and Formalization of OCC’s Recovery and Orderly Wind-Down Plan June 20, 2018. On December 8, 2017, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–OCC–2017–021 (‘‘Proposed Rule Change’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b-4 thereunder,2 concerning enhanced and new tools for recovery scenarios.3 The Proposed Rule Change was published for comment in the Federal Register on December 26, 2017.4 To date, the Commission has received one comment letter to the Proposed Rule Change.5 On March 22, 2018, the Commission instituted proceedings under Section 19(b)(2)(B)(i) of the Act 6 to determine whether to approve or disapprove the Proposed Rule Change.7 Section 19(b)(2)(B)(ii) of the Act provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving the 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 On December 8, 2017, OCC also filed a related advance notice (SR–OCC–2017–810) 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 and Rule 19b–4(n)(1)(i) under the Act (‘‘Advance Notice’’). 12 U.S.C. 5465(e)(1) and 17 CFR 240.19b– 4(n)(1)(i), respectively. The Advance Notice was published in the Federal Register on January 23, 2018. Securities Exchange Act Release No. 82513 (Jan. 17, 2018), 83 FR 3224 (Jan. 23, 2018) (SR– OCC–2017–810). 4 Securities Exchange Act Release No. 82352 (Dec. 19, 2017), 82 FR 61072 (Dec. 26, 2017) (SR–OCC– 2017–021) (‘‘Notice’’). 5 See Letter from Jacqueline H. Mesa, Senior Vice President of Global Policy, FIA, dated Jan. 16, 2018, available at https://www.sec.gov/comments/sr-occ2017-020/occ2017020.htm. Since the proposal contained in the Proposed Rule Change was also filed as an Advance Notice, the Commission is considering all public comments received on the proposal regardless of whether the comments are submitted to the Proposed Rule Change or the Advance Notice. 6 15 U.S.C. 78s(b)(2)(B)(i). 7 See Securities Exchange Act Release No. 82927 (March 22, 2018), 83 FR 13176 (March 27, 2018) (SR–OCC–2018–021). 2 17 E:\FR\FM\26JNN1.SGM 26JNN1 29844 Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change.8 The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination.9 The 180th day after publication of the notice for the Proposed Rule Change in the Federal Register is June 24, 2018. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the Proposed Rule Change so that it has sufficient time to consider the Proposed Rule Change and the comment received. Accordingly, the Commission, pursuant to Section 19(b)(2)(B)(ii) of the Act,10 designates August 23, 2018 as the date by which the Commission shall either approve or disapprove the Proposed Rule Change. The Commission also seeks additional comment to help further inform its analysis of the Proposed Rule Change. Specifically, the Commission invites interested persons to provide views, data, and arguments concerning the Proposed Rule Change, including whether the Proposed Rule Change is consistent with the Act and the applicable rules or regulations thereunder. Please note that comments previously received on the substance of the Proposed Rule Change will be considered together with comments submitted in response to this notice. Therefore, while commenters are free to submit additional comments at this time, they need not re-submit earlier comments. Comments may be submitted by any of the following methods: sradovich on DSK3GMQ082PROD with NOTICES Electronic Comments • 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– OCC–2017–021 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–OCC–2017–021. This file number should be included on the subject line if email is used. To help the 8 15 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 such filing also will be available for inspection and copying at the principal office of OCC and on OCC’s website at https://www.theocc.com/about/ publications/bylaws.jsp. 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–OCC–2017–021 and should be submitted on or before July 11, 2018. Any person who wishes to file a rebuttal to any other person’s submission must file that rebuttal on or before July 17, 2018. Rule 19b-4 thereunder,2 notice is hereby given that on June 7, 2018, Cboe Exchange, Inc. (‘‘Exchange’’ or ‘‘Cboe Options’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Eduardo A. Aleman, Assistant Secretary. A.Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2018–13638 Filed 6–25–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83486; File No. SR–CBOE– 2018–043] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Rule Governing Crowd Space Disputes June 20, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934,1 and I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 24.21 relating to Crowd Space Disputes. The text of the proposed rule change is also available on the Exchange’s website (https:// www.cboe.com/AboutCBOE/CBOELegal RegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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 Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 1. Purpose The purpose of this rule change is to amend Rule 24.21 (Index Crowd Space Dispute Resolution Procedures). By way of background, Rule 24.21 provides for guidelines and procedures to resolve disputes concerning the right of Trading Permit Holders (‘‘TPHs’’) to occupy a certain space in certain index option trading pits. Particularly, the Exchange proposes to amend subparagraphs (b) and (g) of Rule 24.21, which provisions relate to the Space Mediator and the Crowd Space Dispute Resolution (‘‘CSDR’’) panel, respectively. Currently, the rule provides that the Space Mediator 3 will select a CSDR Panel (‘‘Panel’’) U.S.C. 78s(b)(2)(B)(ii). 9 Id. 11 17 2 17 10 Id. 1 15 3 As VerDate Sep<11>2014 17:24 Jun 25, 2018 Jkt 244001 PO 00000 CFR 200.30–3(a)(57). U.S.C. 78s(b)(1). Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\26JNN1.SGM CFR 240.19b-4. defined in Cboe Options Rule 24.21(b). 26JNN1

Agencies

[Federal Register Volume 83, Number 123 (Tuesday, June 26, 2018)]
[Notices]
[Pages 29843-29844]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-13638]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83485; File No. SR-OCC-2017-021]


Self-Regulatory Organizations; Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Concerning Updates to and Formalization of OCC's Recovery and 
Orderly Wind-Down Plan

June 20, 2018.
    On December 8, 2017, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-OCC-2017-021 (``Proposed Rule Change'') 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ concerning enhanced and new 
tools for recovery scenarios.\3\ The Proposed Rule Change was published 
for comment in the Federal Register on December 26, 2017.\4\ To date, 
the Commission has received one comment letter to the Proposed Rule 
Change.\5\ On March 22, 2018, the Commission instituted proceedings 
under Section 19(b)(2)(B)(i) of the Act \6\ to determine whether to 
approve or disapprove the Proposed Rule Change.\7\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On December 8, 2017, OCC also filed a related advance notice 
(SR-OCC-2017-810) 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 and Rule 19b-4(n)(1)(i) under the Act 
(``Advance Notice''). 12 U.S.C. 5465(e)(1) and 17 CFR 240.19b-
4(n)(1)(i), respectively. The Advance Notice was published in the 
Federal Register on January 23, 2018. Securities Exchange Act 
Release No. 82513 (Jan. 17, 2018), 83 FR 3224 (Jan. 23, 2018) (SR-
OCC-2017-810).
    \4\ Securities Exchange Act Release No. 82352 (Dec. 19, 2017), 
82 FR 61072 (Dec. 26, 2017) (SR-OCC-2017-021) (``Notice'').
    \5\ See Letter from Jacqueline H. Mesa, Senior Vice President of 
Global Policy, FIA, dated Jan. 16, 2018, available at https://www.sec.gov/comments/sr-occ-2017-020/occ2017020.htm. Since the 
proposal contained in the Proposed Rule Change was also filed as an 
Advance Notice, the Commission is considering all public comments 
received on the proposal regardless of whether the comments are 
submitted to the Proposed Rule Change or the Advance Notice.
    \6\ 15 U.S.C. 78s(b)(2)(B)(i).
    \7\ See Securities Exchange Act Release No. 82927 (March 22, 
2018), 83 FR 13176 (March 27, 2018) (SR-OCC-2018-021).
---------------------------------------------------------------------------

    Section 19(b)(2)(B)(ii) of the Act provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the

[[Page 29844]]

proposed rule change not later than 180 days after the date of 
publication of notice of filing of the proposed rule change.\8\ The 
Commission may, however, extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination.\9\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2)(B)(ii).
    \9\ Id.
---------------------------------------------------------------------------

    The 180th day after publication of the notice for the Proposed Rule 
Change in the Federal Register is June 24, 2018. The Commission finds 
it appropriate to designate a longer period within which to issue an 
order approving or disapproving the Proposed Rule Change so that it has 
sufficient time to consider the Proposed Rule Change and the comment 
received. Accordingly, the Commission, pursuant to Section 
19(b)(2)(B)(ii) of the Act,\10\ designates August 23, 2018 as the date 
by which the Commission shall either approve or disapprove the Proposed 
Rule Change.
---------------------------------------------------------------------------

    \10\ Id.
---------------------------------------------------------------------------

    The Commission also seeks additional comment to help further inform 
its analysis of the Proposed Rule Change. Specifically, the Commission 
invites interested persons to provide views, data, and arguments 
concerning the Proposed Rule Change, including whether the Proposed 
Rule Change is consistent with the Act and the applicable rules or 
regulations thereunder. Please note that comments previously received 
on the substance of the Proposed Rule Change will be considered 
together with comments submitted in response to this notice. Therefore, 
while commenters are free to submit additional comments at this time, 
they need not re-submit earlier comments.
    Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-OCC-2017-021 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-OCC-2017-021. 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 such filing also will be available for inspection 
and copying at the principal office of OCC and on OCC's website at 
https://www.theocc.com/about/publications/bylaws.jsp.
    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-OCC-2017-021 and 
should be submitted on or before July 11, 2018. Any person who wishes 
to file a rebuttal to any other person's submission must file that 
rebuttal on or before July 17, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-13638 Filed 6-25-18; 8:45 am]
 BILLING CODE 8011-01-P
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