Submission for OMB Review; Comment Request; Extension: Interagency Statement on Sound Practices, 61222-61223 [2024-16666]

Download as PDF 61222 Federal Register / Vol. 89, No. 146 / Tuesday, July 30, 2024 / Notices margin models used to calculate margin requirements for each Clearing Member account and how OCC monitors the sufficiency of the margin collateral it collects to cover losses that may arise from the default of a Clearing Member. OCC does not believe that these changes would unfairly inhibit access to OCC’s services or disadvantage or favor any particular user in relationship to another user. With respect to the proposed Resource Backtesting Margin Charge, whether a particular Clearing Member would be charged and the amount it would be charged would depend on the Clearing Member’s activity and the performance of OCC’s margin models. OCC has designed the Resource Backtesting Margin Charge to ensure its compliance with regulations that require OCC to calculate margin resources sufficient to cover each Clearing Member’s maximum exposure estimated to occur at a future point in time with an established single-tailed confidence level of at least 99 percent with respect to the estimated distribution of future exposure in the interval between the last margin collection and the close out of positions following a participant default.87 To the extent a Clearing Member’s margin coverage falls below OCC’s coverage target, a Resource Backtesting Margin Charge would be applied. Accordingly, OCC believes that the proposed rule change would not impose any burden on competition not necessary or appropriate in furtherance of the Act. khammond on DSKJM1Z7X2PROD with NOTICES (C) Clearing Agency’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were not and are not intended to be solicited with respect to the proposed change and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) by order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. 87 See supra notes 79–81 and accompanying text. VerDate Sep<11>2014 16:51 Jul 29, 2024 Jkt 262001 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: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules-regulations/self-regulatoryorganization-rulemaking); or • Send an email to rule-comments@ sec.gov. Please include file number SR– OCC–2024–009 on the subject line. Paper Comments • Send paper comments in triplicate to Vanessa Countryman, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR–OCC–2024–009. 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-regulations/self-regulatoryorganization-rulemaking). 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 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of OCC and on OCC’s website at https:// www.theocc.com/CompanyInformation/Documents-and-Archives/ By-Laws-and-Rules. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is PO 00000 Frm 00165 Fmt 4703 Sfmt 4703 obscene or subject to copyright protection. All submissions should refer to file number SR–OCC–2024–009 and should be submitted on or before August 20, 2024. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.88 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–16661 Filed 7–29–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–560, OMB Control No. 3235–0622] Submission for OMB Review; Comment Request; Extension: Interagency Statement on Sound Practices Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in the Interagency Statement on Sound Practices Concerning Elevated Risk Complex Structured Finance Activities (‘‘Statement’’) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) and the Investment Advisers Act of 1940 (15 U.S.C. 80b et seq.). The Statement was issued by the Commission, together with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision (together, the ‘‘Agencies’’), in May 2006. The Statement describes the types of internal controls and risk management procedures that the Agencies believe are particularly effective in assisting financial institutions to identify and address the reputational, legal, and other risks associated with elevated risk complex structured finance transactions. The primary purpose of the Statement is to ensure that these transactions receive enhanced scrutiny by the 88 17 E:\FR\FM\30JYN1.SGM CFR 200.30–3(a)(12). 30JYN1 Federal Register / Vol. 89, No. 146 / Tuesday, July 30, 2024 / Notices institution and to ensure that the institution does not participate in illegal or inappropriate transactions. The Commission estimates that approximately 5 registered brokerdealers or investment advisers will spend an average of approximately 25 hours per year complying with the Statement. Thus, the total time burden is estimated to be approximately 125 hours per year. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by August 29, 2024 to (i) www.reginfo.gov/ public/do/PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/ o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: July 24, 2024. Sherry R. Haywood Assistant Secretary. [FR Doc. 2024–16666 Filed 7–29–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 35285; File No. 812–15486] Axonic Alternative Income Fund, et al. July 25, 2024. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. khammond on DSKJM1Z7X2PROD with NOTICES AGENCY: Notice of application for an order (‘‘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 business development companies (‘‘BDCs’’) and closed-end management investment companies to co-invest in portfolio companies with each other and with certain affiliated investment entities. VerDate Sep<11>2014 16:51 Jul 29, 2024 Jkt 262001 Applicants: Axonic Alternative Income Fund, Axonic Credit Opportunities Master Fund, LP, Axonic Residential Mortgage Fund LP, Axonic Special Opportunities SBL Master Fund, LP, Axonic Commercial Real Estate Fund II, LP, Axonic Commercial Real Estate Debt Master Fund, LP, Axonic Structured Opportunities Master Fund, LP, Axonic Multifamily Bridge Master Fund, LP, Axonic Multifamily Bridge Fund, LP, Axonic Private Credit Master Fund I, LP, Axonic International Fund, LP, and Axonic Capital LLC. Filing Dates: The application was filed on July 17, 2023, and amended on December 28, 2023, and April 8, 2024. 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 SEC’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 August 19, 2024, and should be accompanied by proof of service on 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: Jeffrey Skinner, Esq., Kilpatrick Townsend & Stockton LLP, at jskinner@ ktslaw.com; with copies to Jess Saypoff, General Counsel, Axonic Capital LLC, at jsaypoff@axoniccap.com, Kate McCurry, Esq., Kilpatrick Townsend & Stockton LLP, at kmccurry@ktslaw.com, and Josh Breen, Esq., Kilpatrick Townsend & Stockton LLP, at jbreen@ktslaw.com. FOR FURTHER INFORMATION CONTACT: Neil Lombardo, Senior Special 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 April 8, 2024, which may be obtained via the Commission’s website by searching for PO 00000 Frm 00166 Fmt 4703 Sfmt 4703 61223 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/company search.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. 2024–16748 Filed 7–29–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 35286; File No. 812–15515] Overland Advantage, et al. July 25, 2024. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. AGENCY: Notice of application for an order (‘‘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 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: Overland Advantage, Overland Advisors, LLC, Centerbridge Partners, L.P., Centerbridge Advisors IV, LLC, Centerbridge Advisors V, LLC, Centerbridge Credit Advisors, L.L.C., Centerbridge Credit Funding Advisors, LLC, Centerbridge Flex Advisors, L.L.C., Centerbridge Martello Advisors, L.L.C., Centerbridge Partners Real Estate Advisors II, LLC, CB NC Co-Invest GP, L.P., CB LDV GP, L.P., Centerbridge Special Credit Advisors IV, L.L.C., Overland Advantage Fund Advisor, LLC, CB LDV Co-Invest, L.P., CB NC CoInvest, L.P., CCP Credit Acquisition Holdings, L.L.C., CCP IV AIV I, L.P., CCP IV AIV III, L.P., Centerbridge Capital Partners IV, L.P., Centerbridge Capital Partners IV (Cayman), L.P., Centerbridge Capital Partners SBS IV (Cayman), L.P., Centerbridge Capital Partners SBS IV, L.P., Centerbridge E:\FR\FM\30JYN1.SGM 30JYN1

Agencies

[Federal Register Volume 89, Number 146 (Tuesday, July 30, 2024)]
[Notices]
[Pages 61222-61223]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16666]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-560, OMB Control No. 3235-0622]


Submission for OMB Review; Comment Request; Extension: 
Interagency Statement on Sound Practices

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.) the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in the 
Interagency Statement on Sound Practices Concerning Elevated Risk 
Complex Structured Finance Activities (``Statement'') under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) and the 
Investment Advisers Act of 1940 (15 U.S.C. 80b et seq.).
    The Statement was issued by the Commission, together with the 
Office of the Comptroller of the Currency, the Board of Governors of 
the Federal Reserve System, the Federal Deposit Insurance Corporation, 
and the Office of Thrift Supervision (together, the ``Agencies''), in 
May 2006. The Statement describes the types of internal controls and 
risk management procedures that the Agencies believe are particularly 
effective in assisting financial institutions to identify and address 
the reputational, legal, and other risks associated with elevated risk 
complex structured finance transactions.
    The primary purpose of the Statement is to ensure that these 
transactions receive enhanced scrutiny by the

[[Page 61223]]

institution and to ensure that the institution does not participate in 
illegal or inappropriate transactions.
    The Commission estimates that approximately 5 registered broker-
dealers or investment advisers will spend an average of approximately 
25 hours per year complying with the Statement. Thus, the total time 
burden is estimated to be approximately 125 hours per year.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent by August 29, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) Austin Gerig, Director/Chief Data Officer, 
Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street 
NE, Washington, DC 20549, or by sending an email to: 
[email protected].

    Dated: July 24, 2024.
Sherry R. Haywood
Assistant Secretary.
[FR Doc. 2024-16666 Filed 7-29-24; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.