Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Confidential Information, Market Disruption Events, Systems Disconnect, and Other Changes, 48781 [2021-18671]

Download as PDF Federal Register / Vol. 86, No. 166 / Tuesday, August 31, 2021 / Notices by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rulechange (File No. SR–NASDAQ–2021–054). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Jill M. Peterson, Assistant Secretary. [FR Doc. 2021–18673 Filed 8–30–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92749; File No. SR–FICC– 2021–004] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Confidential Information, Market Disruption Events, Systems Disconnect, and Other Changes August 25, 2021. I. Introduction On June 25, 2021, Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–FICC–2021–004 (the ‘‘Proposed Rule Change’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder 2 to amend FICC’s rules relating to confidentiality requirements, market disruption events, systems disconnect, and other changes. The Proposed Rule Change was published for comment in the Federal Register on July 13, 2021,3 and the Commission received a comment, which addresses issues that also appear in this Proposed Rule Change.4 Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of khammond on DSKJM1Z7X2PROD with NOTICES 6 17 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. 92341 (June 25, 2021), 86 FR 36799 (July 13, 2021) (File No. SR–FICC–2021–004) (‘‘Notice of Filing’’). 4 Specifically, the Commission received a comment letter on a proposed rule change filed by FICC’s affiliate, the Depository Trust Company (‘‘DTC’’), regarding parallel changes to DTC’s Rules. See Securities Exchange Act Release No. 92342 (June 25, 2021), 86 FR 36833 (July 13, 2021) (File No. SR–DTC–2021–011). The comment letter is available on the Commission’s website at https:// www.sec.gov/comments/sr-dtc-2021-011/ srdtc2021011.htm. Because the comment addresses issues that also appear in this Proposed Rule Change, the Commission will consider it in connection with FICC’s proposal as well. 5 15 U.S.C. 78s(b)(2). VerDate Sep<11>2014 20:08 Aug 30, 2021 Jkt 253001 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 after publication of the notice for the Proposed Rule Change is effectively Friday, August 27, 2021. The Commission is extending the 45day review period for Commission action on the Proposed Rule Change. In order to provide the Commission with sufficient time to consider 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. Accordingly, pursuant to Section 19(b)(2) of the Act 6 and for the reasons stated above, the Commission designates Friday, October 8, 2021, as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove the Proposed Rule Change (File No. SR–FICC–2021–004). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Jill M. Peterson, Assistant Secretary. [FR Doc. 2021–18671 Filed 8–30–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–269; OMB Control No. 3235–0276] Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. Extension: Rule 6c–7 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection 6 Id. 7 17 PO 00000 CFR 200.30–3(a)(31). Frm 00123 Fmt 4703 Sfmt 4703 48781 of information to the Office of Management and Budget for extension and approval. Rule 6c–7 (17 CFR 270.6c–7) under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (‘‘1940 Act’’) provides exemption from certain provisions of Sections 22(e) and 27 of the 1940 Act for registered separate accounts offering variable annuity contracts to certain employees of Texas institutions of higher education participating in the Texas Optional Retirement Program. There are approximately 142 registrants governed by Rule 6c–7. The burden of compliance with Rule 6c–7, in connection with the registrants obtaining from a purchaser, prior to or at the time of purchase, a signed document acknowledging the restrictions on redeem ability imposed by Texas law, is estimated to be approximately 3 minutes of professional time per response for each of approximately 6,500 purchasers annually (at an estimated $72 per hour),1 for a total annual burden of 325 hours (at a total annual cost of $23,400). The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules or forms. The Commission does not include in the estimate of average burden hours the time preparing registration statements and sales literature disclosure regarding the restrictions on redeem ability imposed by Texas law. The estimate of burden hours for completing the relevant registration statements are reported on the separate PRA submissions for those statements. (See the separate PRA submissions for Form N–3 (17 CFR 274.11b) and Form N–4 (17 CFR 274.11c).) The Commission requests written comments on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the 1 $72/hour figure for a Compliance Clerk is based on the Commission’s estimates concerning the allocation of burden hours and the relevant wage rates from the Commission’s consultations with industry representatives and on salary information for the securities industry compiled by the Securities Industry and Financial Markets Association’s Office Salaries in the Securities Industry 2013. The estimated wage figures are modified by Commission staff to account for an 1800-hour work-year and multiplied by 2.93 to account for bonuses, firm size, employee benefits, overhead, and adjusted to account for the effects of inflation. See Securities Industry and Financial Markets Association, Report on Management & Professional Earnings in the Securities Industry 2013. E:\FR\FM\31AUN1.SGM 31AUN1

Agencies

[Federal Register Volume 86, Number 166 (Tuesday, August 31, 2021)]
[Notices]
[Page 48781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18671]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92749; File No. SR-FICC-2021-004]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change Relating to Confidential Information, Market 
Disruption Events, Systems Disconnect, and Other Changes

August 25, 2021.

I. Introduction

    On June 25, 2021, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-FICC-2021-004 (the ``Proposed Rule Change'') 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder \2\ to amend FICC's rules 
relating to confidentiality requirements, market disruption events, 
systems disconnect, and other changes. The Proposed Rule Change was 
published for comment in the Federal Register on July 13, 2021,\3\ and 
the Commission received a comment, which addresses issues that also 
appear in this Proposed Rule Change.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 92341 (June 25, 2021), 
86 FR 36799 (July 13, 2021) (File No. SR-FICC-2021-004) (``Notice of 
Filing'').
    \4\ Specifically, the Commission received a comment letter on a 
proposed rule change filed by FICC's affiliate, the Depository Trust 
Company (``DTC''), regarding parallel changes to DTC's Rules. See 
Securities Exchange Act Release No. 92342 (June 25, 2021), 86 FR 
36833 (July 13, 2021) (File No. SR-DTC-2021-011). The comment letter 
is available on the Commission's website at https://www.sec.gov/comments/sr-dtc-2021-011/srdtc2021011.htm. Because the comment 
addresses issues that also appear in this Proposed Rule Change, the 
Commission will consider it in connection with FICC's proposal as 
well.
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    Section 19(b)(2) of the Act \5\ 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 after publication of the notice for the Proposed Rule Change 
is effectively Friday, August 27, 2021.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day review period for Commission 
action on the Proposed Rule Change. In order to provide the Commission 
with sufficient time to consider 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.
    Accordingly, pursuant to Section 19(b)(2) of the Act \6\ and for 
the reasons stated above, the Commission designates Friday, October 8, 
2021, as the date by which the Commission shall either approve, 
disapprove, or institute proceedings to determine whether to disapprove 
the Proposed Rule Change (File No. SR-FICC-2021-004).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-18671 Filed 8-30-21; 8:45 am]
BILLING CODE 8011-01-P
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