Kennedy Lewis Management LP, et al., 8505-8506 [2023-02800]
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Federal Register / Vol. 88, No. 27 / Thursday, February 9, 2023 / Notices
19(b)(3)(A) 14 of the Act and paragraph
(f) 15 of Rule 19b–4 thereunder. At any
time within 60 days of the filing of the
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.
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:
khammond on DSKJM1Z7X2PROD 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–
NSCC–2023–001 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–NSCC–2023–001. 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
14 15
U.S.C. 78s(b)(3)(A).
15 17 CFR 240.19b–4(f).
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16:28 Feb 08, 2023
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inspection and copying at the principal
office of NSCC 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
information that you wish to make
available publicly. All submissions
should refer to File Number SR–NSCC–
2023–001 and should be submitted on
or before March 2, 2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–02711 Filed 2–8–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–96797; File No. SR–OCC–
2022–012]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Designation of Longer Period for
Commission Action on Proposed Rule
Change Concerning the Options
Clearing Corporation’s Collateral
Haircuts and Standards for Clearing
Banks and Letters of Credit
February 3, 2023.
On December 5, 2022, The Options
Clearing Corporation (‘‘OCC’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change SR–OCC–2022–
012 (‘‘Proposed Rule Change’’) pursuant
to section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Exchange
Act’’),1 and Rule 19b–4 thereunder 2 to
change rules, policies, and procedures
regarding collateral haircuts, minimum
standards for clearing banks and letterof-credit issuers, and concentration
limits for letters of credit.3 The
Proposed Rule Change was published
for public comment in the Federal
Register on December 23, 2022.4 The
Commission has received comments
regarding the proposal in the Proposed
Rule Change.5
16 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Notice of Filing infra note 4, 87 FR at 79015.
4 Securities Exchange Act Release No. 96533 (Dec.
19, 2022), 87 FR 79015 (Dec. 23, 2022) (File No. SR–
OCC–2022–012) (‘‘Notice of Filing’’).
5 Comments on the Proposed Rule Change are
available at https://www.sec.gov/comments/sr-occ2022-012/srocc2022012.htm.
1 15
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8505
Section 19(b)(2) of the Exchange Act 6
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 February 6, 2023. 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,7 designates March 23,
2023 as the date by which the
Commission shall either approve,
disapprove, or institute proceedings to
determine whether to disapprove
proposed rule change SR–OCC–2022–
012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–02715 Filed 2–8–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
34824; File No. 812–15309]
Kennedy Lewis Management LP, et al.
February 6, 2023.
Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:
Notice of application for an order
under sections 17(d) and 57(i) of the
Investment Company Act of 1940 (the
‘‘Act’’) and rule 17d–1 under the Act to
permit certain joint transactions
otherwise prohibited by sections 17(d)
and 57(a)(4) of the Act and rule 17d–1
under the Act.
SUMMARY OF APPLICATION: Applicants
request an order to permit certain
6 15
U.S.C. 78s(b)(2).
7 Id.
8 17
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CFR 200.30–3(a)(94).
09FEN1
khammond on DSKJM1Z7X2PROD with NOTICES
8506
Federal Register / Vol. 88, No. 27 / Thursday, February 9, 2023 / Notices
business development companies and
closed-end management investment
companies to co-invest in portfolio
companies with each other and with
certain affiliated investment entities.
APPLICANTS: Kennedy Lewis
Management LP, Kennedy Lewis Capital
Company, Kennedy Lewis Capital
Holdings LLC, Kennedy Lewis Capital
Partners Master Fund II LP, and
Kennedy Lewis Capital Partners Master
Fund III LP.
FILING DATES: The application was filed
on February 16, 2022, and amended on
October 27, 2022 and December 30,
2022.
HEARING OR NOTIFICATION OF HEARING:
An order granting the requested relief
will be issued unless the Commission
orders a hearing. Interested persons may
request a hearing on any application by
emailing the Commission’s Secretary at
Secretarys-Office@sec.gov and serving
the Applicants with a copy of the
request by email, if an email address is
listed for the relevant Applicant below,
or personally or by mail, if a physical
address is listed for the relevant
Applicant below. Hearing requests
should be received by the Commission
by 5:30 p.m. on March 3, 2023, and
should be accompanied by proof of
service on the Applicants, in the form
of an affidavit or, for lawyers, a
certificate of service. Pursuant to rule 0–
5 under the Act, hearing requests should
state the nature of the writer’s interest,
any facts bearing upon the desirability
of a hearing on the matter, the reason for
the request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
emailing the Commission’s Secretary at
Secretarys-Office@sec.gov.
ADDRESSES: The Commission:
Secretarys-Office@sec.gov. Applicants:
anthony.pasqua@klimllc.com.
FOR FURTHER INFORMATION CONTACT: Jill
Ehrlich, Senior Counsel, or Lisa Reid
Ragen, Branch Chief, at (202) 551–6825
(Division of Investment Management,
Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: For
Applicants’ representations, legal
analysis, and conditions, please refer to
Applicants’ second amended and
restated application, dated December
30, 2022, which may be obtained via the
Commission’s website by searching for
the file number at the top of this
document, or for an Applicant using the
Company name search field, on the
SEC’s EDGAR system. The SEC’s
EDGAR system may be searched at,
https://www.sec.gov/edgar/searchedgar/
legacy/companysearch.html. You may
also call the SEC’s Public Reference
Room at (202) 551–8090.
VerDate Sep<11>2014
16:28 Feb 08, 2023
Jkt 259001
For the Commission, by the Division of
Investment Management, under delegated
authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–02800 Filed 2–8–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–96799; File No. SR–DTC–
2023–001]
Self-Regulatory Organizations; The
Depository Trust Company; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend the
Clearing Agency Risk Management
Framework
February 3, 2023.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on January
30, 2023, The Depository Trust
Company (‘‘DTC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the clearing agency. DTC filed the
proposed rule change pursuant to
section 19(b)(3)(A) of the Act 3 and Rule
19b–4(f)(4) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
The proposed rule change amends the
Clearing Agency Risk Management
Framework (‘‘Risk Management
Framework’’, or ‘‘Framework’’) of DTC
and its affiliates, Fixed Income Clearing
Corporation (‘‘FICC’’) and National
Securities Clearing Corporation
(‘‘NSCC,’’ and together with FICC, the
‘‘CCPs’’ and the CCPs together with
DTC, the ‘‘Clearing Agencies’’).5
Specifically, the proposed rule change
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(4).
5 See Securities Exchange Act Release Nos. 81635
(September 15, 2017), 82 FR 44224 (September 21,
2017) (File Nos. SR–DTC–2017–013; SR–FICC–
2017–016; SR–NSCC–2017–012) (‘‘Initial Filing’’)
and Securities Exchange Act Release No. 89271
(July 09, 2020), 85 FR 42933 (July 15, 2020) (File
No. SR–NSCC–2020–012); Securities Exchange Act
Release No. 89269 (July 09, 2020), 85 FR 42954
(July 15, 2020) (File No. SR–DTC–2020–009); and
Securities Exchange Act Release No. 89270 (July 09,
2020), 85 FR 42927 (July 15, 2020) (File No. SR–
FICC–2020–007) (together with the Initial Filing,
the ‘‘Framework Filings’’).
2 17
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would amend the Risk Management
Framework to (1) update the description
of the dashboards used by the Clearing
Agencies as internal performance
management tools to measure the
effectiveness of their various operations;
and (2) clarify and revise the
descriptions of certain matters within
the Framework and correct errors in
those descriptions, as further described
below. The proposed changes would
update and clarify the Risk Management
Framework but do not reflect changes to
how the Clearing Agencies comply with
the applicable requirements of Rule
17Ad–22(e), as described in greater
detail below.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission, the
clearing agency included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
clearing agency has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of such statements.
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
1. Purpose
The Clearing Agencies adopted the
Risk Management Framework 6 to
provide an outline for how each of the
Clearing Agencies (i) maintains a wellfounded, clear, transparent and
enforceable legal basis for each aspect of
its activities; (ii) comprehensively
manages legal, credit, liquidity,
operational, general business,
investment, custody, and other risks
that arise in or are borne by it; (iii)
identifies, monitors, and manages risks
related to links it establishes with one
or more clearing agencies, financial
market utilities, or trading markets; (iv)
meets the requirements of its
participants and the markets it serves
efficiently and effectively; (v) uses, or at
a minimum accommodates, relevant
internationally accepted communication
procedures and standards in order to
facilitate efficient payment, clearing and
settlement; and (vi) publicly discloses
certain information, including market
data. In this way, the Risk Management
Framework currently supports the
Clearing Agencies’ compliance with
Rules 17Ad–22(e)(1), (3), (20), (21), (22)
6 Supra
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]]>Agencies
[Federal Register Volume 88, Number 27 (Thursday, February 9, 2023)]
[Notices]
[Pages 8505-8506]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02800]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 34824; File No. 812-15309]
Kennedy Lewis Management LP, et al.
February 6, 2023.
AGENCY: Securities and Exchange Commission (``Commission'' or
``SEC'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of application for an order under sections 17(d) and 57(i)
of the Investment Company Act of 1940 (the ``Act'') and rule 17d-1
under the Act to permit certain joint transactions otherwise prohibited
by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act.
Summary of Application: Applicants request an order to permit certain
[[Page 8506]]
business development companies and closed-end management investment
companies to co-invest in portfolio companies with each other and with
certain affiliated investment entities.
Applicants: Kennedy Lewis Management LP, Kennedy Lewis Capital
Company, Kennedy Lewis Capital Holdings LLC, Kennedy Lewis Capital
Partners Master Fund II LP, and Kennedy Lewis Capital Partners Master
Fund III LP.
Filing Dates: The application was filed on February 16, 2022, and
amended on October 27, 2022 and December 30, 2022.
Hearing or Notification of Hearing: An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing on any application by emailing
the Commission's Secretary at [email protected] and serving the
Applicants with a copy of the request by email, if an email address is
listed for the relevant Applicant below, or personally or by mail, if a
physical address is listed for the relevant Applicant below. Hearing
requests should be received by the Commission by 5:30 p.m. on March 3,
2023, and should be accompanied by proof of service on the Applicants,
in the form of an affidavit or, for lawyers, a certificate of service.
Pursuant to rule 0-5 under the Act, hearing requests should state the
nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by emailing the Commission's Secretary at
[email protected].
ADDRESSES: The Commission: [email protected]. Applicants:
[email protected].
FOR FURTHER INFORMATION CONTACT: Jill Ehrlich, Senior Counsel, or Lisa
Reid Ragen, Branch Chief, at (202) 551-6825 (Division of Investment
Management, Chief Counsel's Office).
SUPPLEMENTARY INFORMATION: For Applicants' representations, legal
analysis, and conditions, please refer to Applicants' second amended
and restated application, dated December 30, 2022, which may be
obtained via the Commission's website by searching for the file number
at the top of this document, or for an Applicant using the Company name
search field, on the SEC's EDGAR system. The SEC's EDGAR system may be
searched at, https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You may also call the SEC's Public Reference Room
at (202) 551-8090.
For the Commission, by the Division of Investment Management,
under delegated authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-02800 Filed 2-8-23; 8:45 am]
BILLING CODE 8011-01-P
