Sunshine Act Meeting; National Science Board, 62851 [2021-24877]
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Federal Register / Vol. 86, No. 216 / Friday, November 12, 2021 / Notices
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–93532; File No. SR–NSCC–
2021–010]
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
Self-Regulatory Organizations;
National Securities Clearing
Corporation; Order Instituting
Proceedings To Determine Whether To
Approve or Disapprove a Proposed
Rule Change To Establish the
Securities Financing Transaction
Clearing Service and Make Other
Changes
None.
HISTORY:
This is a new system.
[FR Doc. 2021–24704 Filed 11–10–21; 8:45 am]
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November 5, 2021.
NATIONAL SCIENCE FOUNDATION
I. Introduction
Sunshine Act Meeting; National
Science Board
The National Science Board’s External
Engagement Committee’s Subcommittee
on Honorary Awards hereby gives
notice of the scheduling of a
teleconference for the transaction of
National Science Board business
pursuant to the National Science
Foundation Act and the Government in
the Sunshine Act.
November 16, 2021, from
11:00 a.m.–12:00 p.m. EST.
TIME AND DATE:
This meeting will be held by
teleconference through the National
Science Foundation, 2415 Eisenhower
Avenue, Alexandria, VA 22314.
PLACE:
STATUS:
Closed.
Review and
Discussion of Selection Criteria;
Discussion of Candidates for the 2021
Vannevar Bush Award; Discussion of
Candidates for the 2021 National
Science Board Public Service Award for
a Group; and Discussion of Candidates
for the 2021 National Science Board
Public Service Award for an Individual.
MATTERS TO BE CONSIDERED:
CONTACT PERSON FOR MORE INFORMATION:
Point of contact for this meeting is:
Alison Gillespie, 2415 Eisenhower Ave.,
Alexandria, VA 22314, algilles@nsf.gov,
(703) 292–7000.
Chris Blair,
Executive Assistant to the National Science
Board Office.
[FR Doc. 2021–24877 Filed 11–9–21; 4:15 pm]
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On July 22, 2021, National Securities
Clearing Corporation (‘‘NSCC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) proposed
rule change SR–NSCC–2021–010
(‘‘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 August 12,
2021.3 The Commission has received
comment letters on the Proposed Rule
Change.4
On September 2, 2021, 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 This order
institutes proceedings, pursuant to
Section 19(b)(2)(B) of the Act,7 to
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 92570
(August 5, 2021), 86 FR 44482 (August 12, 2021)
(SR–NSCC–2021–010) (‘‘Notice’’). NSCC also filed
the proposal contained in the Proposed Rule
Change as advance notice SR–NSCC–2021–803
(‘‘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 August 12,
2021. Securities Exchange Act Release No. 92568
(August 5, 2021), 86 FR 44530 (August 12, 2021)
(SR–NSCC–2021–803). 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 Comment letters are available at https://
www.sec.gov/comments/sr-nscc-2021-010/
srnscc2021-010.htm.
5 15 U.S.C. 78s(b)(2).
6 Securities Exchange Act Release No. 92860
(September 2, 2021), 86 FR 50569 (September 9,
2021) (SR–NSCC–2021–010).
7 15 U.S.C. 78s(b)(2)(B).
2 17
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62851
determine whether to approve or
disapprove the Proposed Rule Change.
II. Summary of the Proposed Rule
Change
As described in the Notice,8 NSCC
proposes to (i) establish the securities
financing transaction clearing service
(‘‘SFT Clearing Service’’) to make
central clearing available at NSCC for
equity securities financing transactions,
which are, broadly speaking,
transactions where the parties exchange
equity securities against cash and
simultaneously agree to exchange the
same securities and cash, plus or minus
a rate payment, on a future date
(collectively, ‘‘SFTs’’), (ii) establish new
membership categories and
requirements for sponsoring members
and sponsored members whereby
existing Members would be permitted to
sponsor certain institutional firms into
membership, (iii) establish a new
membership category and requirements
for agent clearing members whereby
existing Members would be permitted to
submit, on behalf of their customers,
transactions to NSCC for novation, and
(iv) make other amendments and
clarifications to the Rules, as described
in greater detail below.
(i) Key Parameters of the Proposed SFT
Clearing Service
NSCC proposes central clearing for
SFTs with a one business day term in
eligible equity securities that are entered
into by Members, Sponsored Members
that are sponsored into NSCC by
Sponsoring Members (as described
below), or Agent Clearing Members on
behalf of Customers (as described
below). NSCC will maintain eligibility
criteria for the securities that may
underlie an SFT that NSCC will accept
for novation. NSCC would, as an initial
matter, provide the proposed SFT
Clearing Service for only those SFTs
where the underlying securities are
CNS-eligible equity securities that have
a per share price of $5 or more, although
NSCC may modify eligible equity at a
later date.
The final settlement obligations of
each SFT, other than a Sponsored
Member transaction, that is novated to
NSCC would settle receive-versuspayment/delivery-versus-payment at
The Depository Trust Company
(‘‘DTC’’). SFT deliver orders would be
processed in accordance with DTC’s
8 The description of the Proposed Rule Change is
based on the statements prepared by NSCC in the
Notice. See Notice, supra note 3. Capitalized terms
used herein and not otherwise defined herein are
defined in NSCC’s Rules & Procedures, available at
www.dtcc.com/∼/media/Files/Downloads/legal/
rules/nscc_rules.pdf, and the Notice.
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[Federal Register Volume 86, Number 216 (Friday, November 12, 2021)]
[Notices]
[Page 62851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24877]
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NATIONAL SCIENCE FOUNDATION
Sunshine Act Meeting; National Science Board
The National Science Board's External Engagement Committee's
Subcommittee on Honorary Awards hereby gives notice of the scheduling
of a teleconference for the transaction of National Science Board
business pursuant to the National Science Foundation Act and the
Government in the Sunshine Act.
TIME AND DATE: November 16, 2021, from 11:00 a.m.-12:00 p.m. EST.
PLACE: This meeting will be held by teleconference through the National
Science Foundation, 2415 Eisenhower Avenue, Alexandria, VA 22314.
STATUS: Closed.
MATTERS TO BE CONSIDERED: Review and Discussion of Selection Criteria;
Discussion of Candidates for the 2021 Vannevar Bush Award; Discussion
of Candidates for the 2021 National Science Board Public Service Award
for a Group; and Discussion of Candidates for the 2021 National Science
Board Public Service Award for an Individual.
CONTACT PERSON FOR MORE INFORMATION: Point of contact for this meeting
is: Alison Gillespie, 2415 Eisenhower Ave., Alexandria, VA 22314,
[email protected], (703) 292-7000.
Chris Blair,
Executive Assistant to the National Science Board Office.
[FR Doc. 2021-24877 Filed 11-9-21; 4:15 pm]
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