Self-Regulatory Organizations; Fixed Income 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 Modify the Calculation of the MBSD VaR Floor To Incorporate a Minimum Margin Amount, 31354-31355 [2021-12244]

Download as PDF 31354 Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 28 of the Act and subparagraph (f)(2) of Rule 19b–4 29 thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. At any time within 60 days of the filing of such 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 under Section 19(b)(2)(B) 30 of the Act 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: jbell on DSKJLSW7X2PROD 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– NYSEAMER–2021–30 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–NYSEAMER–2021–30. 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 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 30 15 U.S.C. 78s(b)(2)(B). 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–NYSEAMER–2021–30, and should be submitted on or before July 2, 2021. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.31 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–12249 Filed 6–10–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92117; File No. SR–FICC– 2020–017] Self-Regulatory Organizations; Fixed Income 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 Modify the Calculation of the MBSD VaR Floor To Incorporate a Minimum Margin Amount June 7, 2021. On November 20, 2020, Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–FICC–2020–017 (‘‘Proposed Rule Change’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 28 15 29 17 VerDate Sep<11>2014 19:14 Jun 10, 2021 31 17 1 15 Jkt 253001 PO 00000 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). Frm 00090 Fmt 4703 Sfmt 4703 19b–4 thereunder.2 The Proposed Rule Change was published for comment in the Federal Register on December 10, 2020.3 On December 30, 2020, pursuant to Section 19(b)(2) of the Act,4 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.5 On February 16, 2021, the Commission instituted proceedings to determine whether to approve or disapprove the Proposed Rule Change.6 The Commission received comment letters on the Proposed Rule Change.7 In addition, the Commission received a letter from FICC responding to the public comments.8 2 17 CFR 240.19b–4. Exchange Act Release No. 90568 (December 4, 2020), 85 FR 79541 (December 10, 2020) (SR–FICC–2020–017) (‘‘Notice’’). FICC also filed the proposal contained in the Proposed Rule Change as advance notice SR–FICC–2020–804 (‘‘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 January 6, 2021. Securities Exchange Act Release No. 90834 (December 31, 2020), 86 FR 584 (January 6, 2021) (File No. SR–FICC–2020–804) (‘‘Notice of Filing’’). Upon publication of the Notice of Filing, the Commission extended the review period of the Advance Notice for an additional 60 days because the Commission determined that the Advance Notice raised novel and complex issues. On March 12, 2021, the Commission issued a request for information regarding the Advance Notice. See Commission’s Request for Additional Information, available at https://www.sec.gov/comments/sr-ficc2020-804/srficc2020804-8490035-229981.pdf. On April 16, 2021, FICC submitted its response thereto. See Response to Commission’s Request for Additional Information, available at https:// www.sec.gov/comments/sr-ficc-2020-804/ srficc2020804-8685526-235624.pdf; Letter from James Nygard, Director and Assistant General Counsel, FICC (April 16, 2021), available at https:// www.sec.gov/comments/sr-ficc-2020-804/ srficc2020804-8679555-235605.pdf. 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 15 U.S.C. 78s(b)(2). 5 Securities Exchange Act Release No. 90794 (December 23, 2020), 85 FR 86591 (December 30, 2020) (SR–FICC–2020–017). 6 Securities Exchange Act Release No. 91092 (February 9, 2021), 86 FR 9560 (February 16, 2021) (SR–FICC–2020–017). 7 Comments on the Proposed Rule Change are available at https://www.sec.gov/comments/sr-ficc2020-017/srficc2020017.htm. Comments on the Advance Notice are available at https:// www.sec.gov/comments/sr-ficc-2020-804/ srficc2020804.htm. Because the proposals contained in the Advance Notice and the Proposed Rule Change are the same, all comments received on the proposal were considered regardless of whether the comments were submitted with respect to the Advance Notice or the Proposed Rule Change. 8 See Letter from Timothy J. Cuddihy, Managing Director of Depository Trust & Clearing Corporation 3 Securities E:\FR\FM\11JNN1.SGM 11JNN1 Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices Section 19(b)(2) of the Act 9 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.10 The 180th day after publication of the Notice in the Federal Register is June 8, 2021. 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,11 the Commission designates August 7, 2021, as the date by which the Commission should either approve or disapprove the Proposed Rule Change SR–FICC–2020– 017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–12244 Filed 6–10–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92119; File No. SR– NASDAQ–2020–082] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Offer Certain Listed Companies Access to a Complimentary Board Recruiting Solution To Help Advance Diversity on Company Boards jbell on DSKJLSW7X2PROD with NOTICES June 7, 2021. On December 1, 2020, The Nasdaq Stock Market LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant Financial Risk Management, (March 5, 2021) (‘‘FICC Letter’’). 9 15 U.S.C. 78s(b)(2). 10 15 U.S.C. 78s(b)(2)(B)(ii)(II). 11 Id. 12 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 19:14 Jun 10, 2021 Jkt 253001 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 offer certain listed companies access to a complimentary board recruiting solution to help advance diversity on company boards. The proposed rule change was published for comment in the Federal Register on December 10, 2020.3 On January 19, 2021, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On February 26, 2021, the Exchange filed Amendment No. 1 to the proposed rule change, which replaced and superseded the proposed rule change as originally filed. On March 10, 2021, the Commission published notice of Amendment No. 1 and instituted proceedings pursuant to Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 1.7 Section 19(b)(2) of the Act 8 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on December 10, 2020. June 8, 2021 is 180 days from that date, and August 7, 2021 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 90571 (December 4, 2020), 85 FR 79556. Comments received on the proposed rule change are available on the Commission’s website at: https:// www.sec.gov/comments/sr-nasdaq-2020-082/ srnasdaq2020082.htm. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 90952, 86 FR 7148 (January 26, 2021). The Commission designated March 10, 2021 as the date by which the Commission shall approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 91286, 86 FR 14484 (March 16, 2021). 8 15 U.S.C. 78s(b)(2). 2 17 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 31355 disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the comment letters. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,9 designates August 7, 2021 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–NASDAQ–2020–082), as modified by Amendment No. 1. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–12246 Filed 6–10–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92118; File No. SR– NASDAQ–2020–081] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Adopt Listing Rules Related to Board Diversity June 7, 2021. On December 1, 2020, The Nasdaq Stock Market 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 adopt listing rules related to board diversity. The proposed rule change was published for comment in the Federal Register on December 11, 2020.3 On January 19, 2021, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On February 26, 9 Id. 10 17 CFR 200.30–3(a)(57). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 90574 (December 4, 2020), 85 FR 80472. Comments received on the proposed rule change are available on the Commission’s website at: https:// www.sec.gov/comments/sr-nasdaq-2020-081/ srnasdaq2020081.htm. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 90951, 86 FR 7135 (January 26, 2021). The Commission 1 15 E:\FR\FM\11JNN1.SGM Continued 11JNN1

Agencies

[Federal Register Volume 86, Number 111 (Friday, June 11, 2021)]
[Notices]
[Pages 31354-31355]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12244]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92117; File No. SR-FICC-2020-017]


Self-Regulatory Organizations; Fixed Income 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 Modify the Calculation of the MBSD VaR Floor To 
Incorporate a Minimum Margin Amount

June 7, 2021.
    On November 20, 2020, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-FICC-2020-017 (``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 December 10, 
2020.\3\ On December 30, 2020, pursuant to Section 19(b)(2) of the 
Act,\4\ 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.\5\ On February 16, 
2021, the Commission instituted proceedings to determine whether to 
approve or disapprove the Proposed Rule Change.\6\ The Commission 
received comment letters on the Proposed Rule Change.\7\ In addition, 
the Commission received a letter from FICC responding to the public 
comments.\8\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 90568 (December 4, 
2020), 85 FR 79541 (December 10, 2020) (SR-FICC-2020-017) 
(``Notice''). FICC also filed the proposal contained in the Proposed 
Rule Change as advance notice SR-FICC-2020-804 (``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 January 6, 2021. Securities Exchange Act 
Release No. 90834 (December 31, 2020), 86 FR 584 (January 6, 2021) 
(File No. SR-FICC-2020-804) (``Notice of Filing''). Upon publication 
of the Notice of Filing, the Commission extended the review period 
of the Advance Notice for an additional 60 days because the 
Commission determined that the Advance Notice raised novel and 
complex issues. On March 12, 2021, the Commission issued a request 
for information regarding the Advance Notice. See Commission's 
Request for Additional Information, available at https://www.sec.gov/comments/sr-ficc-2020-804/srficc2020804-8490035-229981.pdf. On April 16, 2021, FICC submitted its response thereto. 
See Response to Commission's Request for Additional Information, 
available at https://www.sec.gov/comments/sr-ficc-2020-804/srficc2020804-8685526-235624.pdf; Letter from James Nygard, Director 
and Assistant General Counsel, FICC (April 16, 2021), available at 
https://www.sec.gov/comments/sr-ficc-2020-804/srficc2020804-8679555-235605.pdf. 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\ 15 U.S.C. 78s(b)(2).
    \5\ Securities Exchange Act Release No. 90794 (December 23, 
2020), 85 FR 86591 (December 30, 2020) (SR-FICC-2020-017).
    \6\ Securities Exchange Act Release No. 91092 (February 9, 
2021), 86 FR 9560 (February 16, 2021) (SR-FICC-2020-017).
    \7\ Comments on the Proposed Rule Change are available at 
https://www.sec.gov/comments/sr-ficc-2020-017/srficc2020017.htm. 
Comments on the Advance Notice are available at https://www.sec.gov/comments/sr-ficc-2020-804/srficc2020804.htm. Because the proposals 
contained in the Advance Notice and the Proposed Rule Change are the 
same, all comments received on the proposal were considered 
regardless of whether the comments were submitted with respect to 
the Advance Notice or the Proposed Rule Change.
    \8\ See Letter from Timothy J. Cuddihy, Managing Director of 
Depository Trust & Clearing Corporation Financial Risk Management, 
(March 5, 2021) (``FICC Letter'').

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[[Page 31355]]

    Section 19(b)(2) of the Act \9\ 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.\10\ The 180th day after publication of 
the Notice in the Federal Register is June 8, 2021.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 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,\11\ the Commission designates August 7, 
2021, as the date by which the Commission should either approve or 
disapprove the Proposed Rule Change SR-FICC-2020-017.
---------------------------------------------------------------------------

    \11\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12244 Filed 6-10-21; 8:45 am]
BILLING CODE 8011-01-P
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