Self-Regulatory Organizations; LCH SA; Notice of Designation of Longer Period for Commission Action on Proposed Rule Relating To Providing Clearing Services for Additional Index and Single Name CDS, 65629 [2022-23582]

Download as PDF Federal Register / Vol. 87, No. 209 / Monday, October 31, 2022 / Notices Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove proposed rule change SR–LCH SA– 2022–007. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96148; File No. SR–LCH SA–2022–007] Self-Regulatory Organizations; LCH SA; Notice of Designation of Longer Period for Commission Action on Proposed Rule Relating To Providing Clearing Services for Additional Index and Single Name CDS For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Deputy Secretary. October 25, 2022. BILLING CODE 8011–01–P khammond on DSKJM1Z7X2PROD with NOTICES On August 29, 2022, Banque Centrale de Compensation, which conducts business under the name LCH SA (‘‘LCH SA’’), filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change SR–LCH SA– 2022–007 (‘‘Proposed Rule Change’’) pursuant to Section 19(b) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 2 thereunder to provide clearing services for additional index and single name credit default swaps.3 The Proposed Rule Change was published for public comment in the Federal Register on September 12, 2022.4 The Commission has not received comments regarding the proposal described in the Proposed Rule Change. Section 19(b)(2) of the Exchange 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 of Filing is October 27, 2022. The Commission is extending this 45-day time period. 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, the Commission, pursuant to Section 19(b)(2) of the Exchange Act,6 designates December 11, 2022 as the date by which the 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Notice of Filing infra note 4, 87 FR at 55872. 4 Securities Exchange Act Release No. 95674 (Sep. 6, 2022), 87 FR 55872 (Sep. 12, 2022) (File No. SR– LCH SA–2022–007) (‘‘Notice of Filing’’). 5 15 U.S.C. 78s(b)(2). 6 Id. 2 17 VerDate Sep<11>2014 17:15 Oct 28, 2022 Jkt 259001 [FR Doc. 2022–23582 Filed 10–28–22; 8:45 am] [Release No. 34–96151; File No. SR– NYSEARCA–2022–69] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Commentary .01 of NYSE Arca Rule 2.1210 October 25, 2022. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on October 11, 2022, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Commentary .01 of NYSE Arca Rule 2.1210 to add text inadvertently omitted when the rule was adopted. The proposed rule change is available on the Exchange’s website at www.nyse.com, at the principal office of the Exchange, 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 self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received 7 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 15 Frm 00062 Fmt 4703 on the proposed rule change. The text of those 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose SECURITIES AND EXCHANGE COMMISSION PO 00000 65629 Sfmt 4703 The Exchange proposes to amend Commentary .01 of NYSE Arca Rule 2.1210 (Registration Requirements) to add text inadvertently omitted when the rule was adopted. Proposed Rule Change In 2018, the Exchange adopted Rule 2.1210 regarding registration requirements and related Commentary.4 Rule 2.1210 provides that each person engaged in the investment banking or securities business of an ETP Holder, OTP Holder or OTP Firm must register with the Exchange as a representative or principal in each category of registration appropriate to his or her functions and responsibilities as specified in Rule 2.1220 (Registration Categories), unless exempt from registration pursuant to Rule 2.1230 (Associated Persons Exempt from Registration). Rule 2.1210 also provides that such person is not qualified to function in any registered capacity other than that for which the person is registered, unless otherwise stated in the rules. Rule 2.1210, Commentary .01, provides for permissive registrations, and was adopted in order for the Exchange to harmonize its rules with the rules of the Financial Regulatory Authority, Inc. (‘‘FINRA’’).5 The rule permits any associated person to obtain and maintain any registration permitted by an ETP Holder, OTP Holder or OTP Firm. As adopted, the first sentence of Commentary .01 provides as follows: An ETP Holder, OTP Holder or OTP Firm may make application for or maintain the registration as a representative or principal of any associated person of an ETP Holder, OTP Holder or OTP Firm and any individual engaged in the securities business of a foreign securities affiliate or subsidiary of the ETP Holder, OTP Holder or OTP Firm. 4 See Securities Exchange Act Release No. 84389 (October 10, 2018), 83 FR 52272 (October 16, 2018) (SR–NYSEArca–2018–71) (Notice of Filing and Immediate Effectiveness of Amendments to Rules Regarding Qualification, Registration and Continuing Education Applicable to Equity Trading Permit Holders, Options Trading Permit Holders or OTP Firms). 5 See id., 83 FR at 52275. E:\FR\FM\31OCN1.SGM 31OCN1

Agencies

[Federal Register Volume 87, Number 209 (Monday, October 31, 2022)]
[Notices]
[Page 65629]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23582]



[[Page 65629]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96148; File No. SR-LCH SA-2022-007]


Self-Regulatory Organizations; LCH SA; Notice of Designation of 
Longer Period for Commission Action on Proposed Rule Relating To 
Providing Clearing Services for Additional Index and Single Name CDS

October 25, 2022.
    On August 29, 2022, Banque Centrale de Compensation, which conducts 
business under the name LCH SA (``LCH SA''), filed with the Securities 
and Exchange Commission (``Commission'') the proposed rule change SR-
LCH SA-2022-007 (``Proposed Rule Change'') pursuant to Section 19(b) of 
the Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 
19b-4 \2\ thereunder to provide clearing services for additional index 
and single name credit default swaps.\3\ The Proposed Rule Change was 
published for public comment in the Federal Register on September 12, 
2022.\4\ The Commission has not received comments regarding the 
proposal described in the Proposed Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, 87 FR at 55872.
    \4\ Securities Exchange Act Release No. 95674 (Sep. 6, 2022), 87 
FR 55872 (Sep. 12, 2022) (File No. SR-LCH SA-2022-007) (``Notice of 
Filing'').
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    Section 19(b)(2) of the Exchange 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 of 
Filing is October 27, 2022. The Commission is extending this 45-day 
time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    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, the Commission, pursuant to Section 19(b)(2) of the 
Exchange Act,\6\ designates December 11, 2022 as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-LCH SA-2022-
007.
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    \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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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-23582 Filed 10-28-22; 8:45 am]
BILLING CODE 8011-01-P
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