Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Enhance National Securities Clearing Corporation's Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV, 60854-60855 [2020-21270]

Download as PDF 60854 Federal Register / Vol. 85, No. 188 / Monday, September 28, 2020 / Notices (A) By order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. The proposal shall not take effect until all regulatory actions required with respect to the proposal are completed. 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 • 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– DTC–2020–011 on the subject line. Paper Comments • 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–2020–011. 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 DTC and on DTCC’s website (https://dtcc.com/legal/sec-rulefilings.aspx). 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 VerDate Sep<11>2014 18:25 Sep 25, 2020 Jkt 250001 information that you wish to make available publicly. All submissions should refer to File Number SR–DTC– 2020–011 and should be submitted on or before October 19, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.41 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–21290 Filed 9–25–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89962; File No. SR–NYSE– 2020–66] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Amend NYSE Rule 122 September 22, 2020. On August 3, 2020, New York Stock Exchange LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend to NYSE Rule 122 (Orders with More than One Broker). The proposed rule change was published for comment in the Federal Register on August 12, 2020.3 The Commission has received no comments on the proposal. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, 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. The 45th day for this filing is September 25, 2020. The Commission is extending the 45day period for Commission action on the proposed rule change. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed 41 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 89500 (August 6, 2020), 85 FR 48738 (Aug. 12, 2020). 4 15 U.S.C. 78s(b)(2). 1 15 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 rule change so that it has sufficient time to consider the proposed rule change. Accordingly, pursuant to Section 19(b)(2) of the Act,5 the Commission designates November 10, 2020, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to approve or disapprove, the proposed rule change (File No. SR– NYSE–2020–66). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–21271 Filed 9–25–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89949; File No. SR–NSCC– 2020–003] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Enhance National Securities Clearing Corporation’s Haircut-Based Volatility Charge Applicable to Illiquid Securities and UITs and Make Certain Other Changes to Procedure XV September 22, 2020. On March 16, 2020, National Securities Clearing Corporation (‘‘NSCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–NSCC–2020– 003 (‘‘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 Change was published for comment in the Federal Register on March 31, 2020.3 The Commission received 5 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 Securities Exchange Act Release No. 88474 (March 25, 2020), 85 FR 17910 (March 31, 2020) (SR–NSCC–2020–003) (‘‘Notice’’). NSCC also filed the proposal contained in the Proposed Rule Change as advance notice SR–FICC–2020–802 (‘‘Advance Notice’’) with the Commission pursuant to Section 806(e)(1) of the Dodd-Frank Wall Street Reform and Consumer Protection Act entitled the Payment, Clearing, and Settlement Supervision Act of 2010 (‘‘Clearing Supervision Act’’). 12 U.S.C. 5465(e)(1); 17 CFR 240.19b–4(n)(1)(i). Notice of filing of the Advance Notice was published for comment in the Federal Register on April 15, 2020. Securities Exchange Act Release No. 88615 (April 9, 2020), 85 FR 21037 (April 15, 2020) (SR–NSCC– 2020–802). The proposal contained in the Proposed 6 17 E:\FR\FM\28SEN1.SGM 28SEN1 Federal Register / Vol. 85, No. 188 / Monday, September 28, 2020 / Notices comment letters on the Proposed Rule Change.4 On May 21, 2020, pursuant to Section 19(b)(2) of the Act,5 the Commission designated a longer period within which to approve, disapprove, or institute proceedings to determine whether to approve or disapprove the Proposed Rule Change.6 On June 24, 2020, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Act,7 to determine whether to approve or disapprove the Proposed Rule Change.8 The Commission received additional comment letters on the Proposed Rule Change.9 Section 19(b)(2) of the Act 10 provides that proceedings to determine whether to approve or disapprove a proposed rule change must be concluded within 180 days of the date of publication of notice of filing of the proposed rule change. The time for conclusion of the proceedings may be extended for up to 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination.11 The 180th day after publication of the Notice in the Federal Register is September 27, 2020. The Commission is extending the period for Commission action on 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 so that the Commission has sufficient time to consider the issues raised by the Rule Change and the Advance Notice shall not take effect until all regulatory actions required with respect to the proposal are completed. 4 Letter from Christopher R. Doubek, CEO, Alpine Securities Corporation (April 21, 2020); Letter from John Busacca, Founder, Securities Industry Professional Association (April 23, 2020); Letter from Charles F. Lek, Lek Securities Corporation (April 30, 2020); Letter from James C. Snow, President/CCO, Wilson-Davis & Co., Inc. (May 1, 2020), all available at https://www.sec.gov/ comments/sr-nscc-2020-003/srnscc2020003.htm. 5 15 U.S.C. 78s(b)(2). 6 Securities Exchange Act Release No. 88885 (May 15, 2020), 85 FR 31007 (May 21, 2020) (SR–NSCC– 2020–003). 7 15 U.S.C. 78s(b)(2)(B). 8 Securities Exchange Act Release No. 89145 (June 24, 2020), 85 FR 39244 (June 30, 2020) (SR– NSCC–2020–003). 9 Letter from Daniel Zinn, General Counsel, and Cass Sanford, Associate General Counsel, OTC Markets Group Inc. (June 26, 2020); Letter from Kim Unger, CEO/Executive Director, The Security Traders Association of New York, Inc. (June 30, 2020); Letter from Daniel Zinn, General Counsel, and Cass Sanford, Associate General Counsel, OTC Markets Group Inc. (July 21, 2020); Letter from James C. Snow, CCO, Wilson-Davis & Co., Inc. (July 29, 2020); Letter from Timothy J. Cuddihy, Managing Director, DTCC Financial Risk Management (September 3, 2020) all available at https://www.sec.gov/comments/sr-nscc-2020-003/ srnscc2020003.htm. 10 15 U.S.C. 78s(b)(2). 11 15 U.S.C. 78s(b)(2)(B)(ii)(II). VerDate Sep<11>2014 18:25 Sep 25, 2020 Jkt 250001 Proposed Rule Change and to take action on the Proposed Rule Change. Accordingly, pursuant to Section 19(b)(2)(B)(ii)(II) of the Act,12 the Commission designates November 26, 2020, as the date by which the Commission should either approve or disapprove the Proposed Rule Change SR–NSCC–2020–003. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–21270 Filed 9–25–20; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF STATE [Public Notice 11217] The State Department’s Cuba Prohibited Accommodations List Department of State. Initial publication of list of properties; notice. AGENCY: ACTION: The Department of State is publishing the Cuba Prohibited Accommodations List identifying properties subject to additional prohibitions with respect to certain lodging-related transactions under the Cuban Assets Control Regulations (CACR). DATES: Effective on September 28, 2020. FOR FURTHER INFORMATION CONTACT: Emily Belson, Office of Economic Sanctions Policy and Implementation, tel.: 202–647–6526; Robert Haas, Office of the Coordinator for Cuban Affairs, tel.: 202–453–8456, Department of State, Washington, DC 20520. SUPPLEMENTARY INFORMATION: SUMMARY: Background On June 16, 2017, the President signed National Security Presidential Memorandum 5, ‘‘Strengthening the Policy of the United States Toward Cuba’’ (NSPM–5). As part of its implementation of NSPM–5, on September 28, 2020 the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a final rule in the Federal Register [FR 2020–21084] amending the CACR, 31 CFR part 515. The regulatory amendment to the CACR, among other things, adds new § 515.210, which generally prohibits persons subject to U.S. jurisdiction from lodging, paying for lodging, or making any reservation for or on behalf of a third party to lodge, at any property in Cuba 12 Id. 13 17 PO 00000 CFR 200.30–3(a)(57). Frm 00104 Fmt 4703 Sfmt 4703 60855 that the Secretary of State has identified as a property that is owned or controlled by the Cuban government, a prohibited official of the Government of Cuba as defined in § 515.337, a prohibited member of the Cuban Communist Party as defined in § 515.338, a close relative, as defined in § 515.339, of a prohibited official of the Government of Cuba, or a close relative of a prohibited member of the Cuban Communist Party when the terms of the general or specific license expressly exclude such a transaction. Such properties are identified on the State Department’s Cuba Prohibited Accommodations List (CPA List), published below and accessible on the State Department’s website. (https:// www.state.gov/cuba-sanctions/cubaprohibited-accommodations). The State Department will update the CPA List periodically via the Federal Register and on its website. The publication of the CPA List implements the policy in paragraph 2(a) of NSPM–5 to end economic practices that disproportionately benefit the Cuban government or its military, intelligence, or security agencies or personnel at the expense of the Cuban people. Properties that are owned or controlled by the Cuban government compete with independent private sector lodging such as legitimately private casas particulares. Governmentowned or -controlled accommodations are a principal source of revenue for the Cuban government, which uses that revenue to perpetuate its repressive hold on power. Cuban government insiders such as prohibited officials, prohibited members of the Cuban Communist Party, and the close relatives thereof personally benefit from the ownership or control of ostensibly independent casas particulares. These individuals’ insider status gives them access to private homes that they rent out for personal benefit, at the expense of the Cuban people and of casas particulares run by ordinary Cubans. Electronic Availability This document and additional information concerning the Cuba Prohibited Accommodations List are available from the State Department’s Cuba sanctions website (https:// www.state.gov/cuba-sanctions/cubaprohibited-accommodations). Cuba Prohibited Accommodations List as of September 28, 2020 Below is the U.S. Department of State’s Cuba Prohibited Accommodations List, a list of properties in Cuba owned or controlled by the Cuban government, a prohibited official of the Government of Cuba, as E:\FR\FM\28SEN1.SGM 28SEN1

Agencies

[Federal Register Volume 85, Number 188 (Monday, September 28, 2020)]
[Notices]
[Pages 60854-60855]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21270]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89949; File No. SR-NSCC-2020-003]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Designation of Longer Period for Commission 
Action on Proceedings To Determine Whether To Approve or Disapprove a 
Proposed Rule Change To Enhance National Securities Clearing 
Corporation's Haircut-Based Volatility Charge Applicable to Illiquid 
Securities and UITs and Make Certain Other Changes to Procedure XV

September 22, 2020.
    On March 16, 2020, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') proposed rule change SR-NSCC-2020-003 (``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 
Change was published for comment in the Federal Register on March 31, 
2020.\3\ The Commission received

[[Page 60855]]

comment letters on the Proposed Rule Change.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 88474 (March 25, 2020), 
85 FR 17910 (March 31, 2020) (SR-NSCC-2020-003) (``Notice''). NSCC 
also filed the proposal contained in the Proposed Rule Change as 
advance notice SR-FICC-2020-802 (``Advance Notice'') with the 
Commission pursuant to Section 806(e)(1) of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act entitled the Payment, 
Clearing, and Settlement Supervision Act of 2010 (``Clearing 
Supervision Act''). 12 U.S.C. 5465(e)(1); 17 CFR 240.19b-4(n)(1)(i). 
Notice of filing of the Advance Notice was published for comment in 
the Federal Register on April 15, 2020. Securities Exchange Act 
Release No. 88615 (April 9, 2020), 85 FR 21037 (April 15, 2020) (SR-
NSCC-2020-802). The proposal contained in the Proposed Rule Change 
and the Advance Notice shall not take effect until all regulatory 
actions required with respect to the proposal are completed.
    \4\ Letter from Christopher R. Doubek, CEO, Alpine Securities 
Corporation (April 21, 2020); Letter from John Busacca, Founder, 
Securities Industry Professional Association (April 23, 2020); 
Letter from Charles F. Lek, Lek Securities Corporation (April 30, 
2020); Letter from James C. Snow, President/CCO, Wilson-Davis & Co., 
Inc. (May 1, 2020), all available at https://www.sec.gov/comments/sr-nscc-2020-003/srnscc2020003.htm.
---------------------------------------------------------------------------

    On May 21, 2020, pursuant to Section 19(b)(2) of the Act,\5\ the 
Commission designated a longer period within which to approve, 
disapprove, or institute proceedings to determine whether to approve or 
disapprove the Proposed Rule Change.\6\ On June 24, 2020, the 
Commission instituted proceedings pursuant to Section 19(b)(2)(B) of 
the Act,\7\ to determine whether to approve or disapprove the Proposed 
Rule Change.\8\ The Commission received additional comment letters on 
the Proposed Rule Change.\9\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
    \6\ Securities Exchange Act Release No. 88885 (May 15, 2020), 85 
FR 31007 (May 21, 2020) (SR-NSCC-2020-003).
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ Securities Exchange Act Release No. 89145 (June 24, 2020), 
85 FR 39244 (June 30, 2020) (SR-NSCC-2020-003).
    \9\ Letter from Daniel Zinn, General Counsel, and Cass Sanford, 
Associate General Counsel, OTC Markets Group Inc. (June 26, 2020); 
Letter from Kim Unger, CEO/Executive Director, The Security Traders 
Association of New York, Inc. (June 30, 2020); Letter from Daniel 
Zinn, General Counsel, and Cass Sanford, Associate General Counsel, 
OTC Markets Group Inc. (July 21, 2020); Letter from James C. Snow, 
CCO, Wilson-Davis & Co., Inc. (July 29, 2020); Letter from Timothy 
J. Cuddihy, Managing Director, DTCC Financial Risk Management 
(September 3, 2020) all available at https://www.sec.gov/comments/sr-nscc-2020-003/srnscc2020003.htm.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \10\ provides that proceedings to 
determine whether to approve or disapprove a proposed rule change must 
be concluded within 180 days of the date of publication of notice of 
filing of the proposed rule change. The time for conclusion of the 
proceedings may be extended for up to 60 days if the Commission 
determines that a longer period is appropriate and publishes the 
reasons for such determination.\11\ The 180th day after publication of 
the Notice in the Federal Register is September 27, 2020.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).
    \11\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
---------------------------------------------------------------------------

    The Commission is extending the period for Commission action on 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 so that the Commission has sufficient time to consider the 
issues raised by the Proposed Rule Change and to take action on the 
Proposed Rule Change. Accordingly, pursuant to Section 
19(b)(2)(B)(ii)(II) of the Act,\12\ the Commission designates November 
26, 2020, as the date by which the Commission should either approve or 
disapprove the Proposed Rule Change SR-NSCC-2020-003.
---------------------------------------------------------------------------

    \12\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-21270 Filed 9-25-20; 8:45 am]
BILLING CODE 8011-01-P
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