88 FR 188 pg. 67407 - Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change by National Securities Clearing Corporation To Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
Type: NOTICEVolume: 88Number: 188Page: 67407
Page: 67407Docket number: [Release No. 34-98508; File No. SR-NCC-2023-007]
FR document: [FR Doc. 2023-21345 Filed 9-28-23; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98508; File No. SR-NCC-2023-007]
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change by National Securities Clearing Corporation To Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
September 25, 2023.
On August 10, 2023, the Options Clearing Corporation ("OCC") filed with the Securities and Exchange Commission ("Commission") the proposed rule change SR-OCC-2023-003 pursuant to Section 19(b) of the Securities Exchange Act of 1934 ("Exchange Act")? 1 and Rule 19b-4? 2 thereunder to modify the Amended and Restated Stock Options and Futures Settlement Agreement between NSCC and The Options Clearing Corporation and make certain related revisions to Rule 18, Procedure III and Addendum K of the NSCC Rules & Procedures. The proposed rule change was published for public comment in the Federal Register on August 30, 2023. 3 The Commission has received no comments regarding the proposal described in the proposed rule change.
Footnotes:
1 ?15 U.S.C. 78s(b)(1).
2 ?17 CFR 240.19b-4.
3 ?Securities Exchange Act Release No. 98213 (Aug. 24, 2023), 88 FR 59968 (Aug. 30, 2023) (File No. SR-NSCC-2023-007) ("Notice of Filing").
Section 19(b)(2)(i) of the Exchange Act? 4 provides that, within 45 days of the publication of notice of the filing of a proposed rule change, 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 unless the Commission extends the period within which it must act as provided in Section 19(b)(2)(ii) of the Exchange Act. 5 Section 19(b)(2)(ii) of the Exchange Act allows the Commission to designate a longer period for review (up to 90 days from the publication of notice of the filing of a proposed rule change) if the Commission finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents. 6
Footnotes:
4 ?15 U.S.C. 78s(b)(2)(i).
5 ?15 U.S.C. 78 s(b)(2)(ii).
6 ? Id.
The 45th day after publication of the Notice of Filing is October 14, 2023. 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 and therefore is extending this 45-day time period.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Exchange Act, 7 designates November 28, 2023, as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove proposed rule change SR-NCC-2023-007.
Footnotes:
7 ? Id.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 8
Footnotes:
8 ?17 CFR 200.30-3(a)(31).
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21345 Filed 9-28-23; 8:45 am]
BILLING CODE 8011-01-P