[Federal Register Volume 67, Number 128 (Wednesday, July 3, 2002)]
[Notices]
[Page 44655]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-16706]


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SECURITIES AND EXCHANGE COMMISSION

[Release 34-46135; File No. 600-23]


Self-Regulatory Organizations; Government Securities Clearing 
Corporation; Notice of Filing and Order Approving an Extension of 
Temporary Registration as a Clearing Agency

June 27, 2002.
    The Securities and Exchange Commission (``Commission'') is 
publishing this notice and order to solicit comments from interested 
persons and to extend the Government Securities Clearing Corporation's 
(``GSCC'') temporary registration as a clearing agency through June 30, 
2003. On May 24, 1988, pursuant to sections 17A(b) and 19(a) of the Act 
\1\ and Rule 17Ab2-1 promulgated thereunder,\2\ the Commission granted 
GSCC registration as a clearing agency on a temporary basis for a 
period of three years.\3\ The Commission subsequently has extended 
GSCC's registration through June 30, 2002.\4\ GSCC requested that the 
Commission extend GSCC's temporary registration until such time as the 
Commission is prepared to grant GSCC permanent registration.\5\
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    \1\ 15 U.S.C. 78q-1(b) and 78s(a).
    \2\ 17 CFR 240.17Ab2-1.
    \3\ Securities Exchange Act Release No. 25740 (May 24, 1988), 53 
FR 19639.
    \4\ Securities Exchange Act Release Nos. 25740 (May 24, 1988), 
53 FR 19639; 29236 (May 24, 1991), 56 FR 24852; 32385 (June 3, 
1993), 58 FR 32405; 35787 (May 31, 1995), 60 FR 30324; 36508 
(November 27, 1995), 60 FR 61719; 37983 (November 25, 1996), 61 FR 
64183; 38698 (May 30, 1997), 62 FR 30911; 39696 (February 24, 1998), 
63 FR 10253; 41104 (February 24, 1999), 64 FR 10510; 41805 (August 
27, 1999), 64 FR 48682; 42335 (January 12, 2000), 65 FR 3509; 43089 
(July 28, 2000), 65 FR 48032; 43900 (January 29, 2001), 66 FR 8988; 
44553 (July 13, 2001), 66 FR 37714; and 45164 (December 18, 2001), 
66 FR 66957.
    \5\ Letter from Jeffrey Ingber, Managing Director, General 
Counsel, and Secretary, GSCC (June 4, 2002).
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    The Commission today is extending GSCC's temporary registration as 
a clearing agency in order that GSCC may continue to act as a clearing 
agency while the Commission seeks comment on granting GSCC permanent 
registration as a clearing agency.\6\ GSCC acts as the central clearing 
entity for the U.S. Government securities trading and financing 
marketplaces.
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    \6\ The Commission continues to consider two issues related to 
GSCC's permanent registration status: (1) GSCC's organizational 
structure after its integration with The Depository Trust & Clearing 
Corporation and (2) the appropriate standard of care for GSCC.
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    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing application. Such written data, 
views, and arguments will be considered by the Commission in granting 
registration or instituting proceedings to determine whether 
registration should be denied in accordance with section 19(a)(1) of 
the Act.\7\ Persons making written submissions should file six copies 
thereof with the Secretary, Securities and Exchange Commission, 450 
Fifth Street, NW, Washington, DC 20549-0609. Copies of the application 
for registration and all written comments will be available for 
inspection at the Commission's Public Reference Room, 450 Fifth Street, 
NW, Washington, DC 20549-0102. All submissions should refer to File No. 
600-23 and should be submitted by July 24, 2002.
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    \7\ 15 U.S.C. 78s(a)(1).
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    It is therefore ordered that GSCC's temporary registration as a 
clearing agency (File No. 600-23) be and hereby is extended through 
June 30, 2003.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(1506).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-16706 Filed 7-2-02; 8:45 am]
BILLING CODE 8010-01-P