[Federal Register Volume 84, Number 35 (Thursday, February 21, 2019)]
[Notices]
[Pages 5523-5524]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02896]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85137; File No. SR-FICC-2018-013]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Notice of Designation of Longer Period for Commission Action and
Reopening the Period for Comment on Proposed Rule Change To Expand
Sponsoring Member Eligibility in the Government Securities Division
Rulebook and Make Other Changes
February 14, 2019.
On December 13, 2018, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ proposed rule change SR-
FICC-2018-013 to expand sponsoring member eligibility and make other
changes.\3\ The proposed rule change was published for comment in the
Federal Register on December 31, 2018.\4\ As of February 13, 2019, the
Commission has received five comment letters to the proposed rule
change,\5\ including a response letter from FICC.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ On December 13, 2018, FICC also filed the proposal contained
in the proposed rule change as advance notice SR-FICC-2018-802 with
the Commission pursuant to Section 806(e)(1) of the Dodd-Frank Wall
Street Reform and Consumer Protection Act entitled the Payment,
Clearing, and Settlement Supervision Act of 2010 (``Clearing
Supervision Act''), 12 U.S.C. 5465(e)(1), and Rule 19b-4(n)(1)(i) of
the Act, 17 CFR 240.19b-4(n)(1)(i).
\4\ Securities Exchange Act Release No. 84951 (December 21,
2018), 83 FR 67801 (December 31, 2018) (SR-FICC-2018-013)
(``Notice'').
\5\ See letter from Robert E. Pooler, Jr., Chief Financial
Officer, Ronin Capital, LLC, dated January 18, 2019, to Brent J.
Fields, Secretary, Commission (``Ronin Letter''); letter from James
Tabacchi, Chairman, Independent Dealer and Trade Association, dated
January 22, 2019, to Brent J. Fields, Secretary, Commission (``IDTA
Letter''); letter from Robert Toomey, Managing Director and
Associate General Counsel, Securities Industry and Financial Markets
Association, dated January 22, 2019, to Brent J. Fields, Secretary,
Commission (``SIFMA Letter''); letter from Stephen John Berger,
Managing Director, Government & Regulatory Policy, Citadel, dated
January 30, 2019, to Brent J. Fields, Secretary, Commission
(``Citadel Letter''); and letter from Murray Pozmanter, Managing
Director, DTCC, dated February 4, 2019, to Brent J. Fields,
Secretary, Commission (``FICC Response Letter''). See comments on
the proposed rule change (SR-FICC-2018-013), available at https://www.sec.gov/comments/sr-ficc-2018-013/srficc2018013.htm. Because the
proposal contained in the proposed rule change was also filed as an
advance notice, supra note 3, the Commission is considering all
public comments received on the proposal regardless of whether the
comments were submitted to the advance notice or the proposed rule
change.
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Section 19(b)(2) of the 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 for the proposed rule change
is February 14, 2019.
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\6\ 15 U.S.C. 78s(b)(2).
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The Commission is extending the 45-day time period for Commission
action on 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 so that it has sufficient time to consider and
take action on the proposed rule change.
Accordingly, pursuant to Section 19(b)(2) of the Act \7\ and for
the reasons stated above, the Commission designates March 31, 2019 as
the date by which the Commission shall either approve, disapprove, or
institute proceedings to determine whether to disapprove the proposed
rule change (File No. SR-FICC-2018-013).
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\7\ 15 U.S.C. 78s(b)(2).
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The Commission also seeks additional comment to help further inform
its analysis of the proposed rule change. The comment period for the
proposed rule change ended on January 22, 2019.\8\ As of February 13,
2019, the Commission has received five comment letters to the proposed
rule change.\9\ The Commission is reopening the comment period for the
proposed rule change to allow interested persons additional time to
analyze the issues and prepare their comments. Accordingly, the
Commission designates [insert date 21 days from publication in the
Federal Register] as the date comments should be submitted on or
before.
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\8\ Notice, 83 FR at 67808.
\9\ See supra note 5.
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Specifically, the Commission invites interested persons to provide
views, data, and arguments concerning the proposed rule change,
including whether the proposed rule change is consistent with the Act
and the applicable rules or regulations thereunder. Please note that
comments previously received on the substance of the proposed rule
change will be considered together with comments
[[Page 5524]]
submitted in response to this notice. Therefore, while commenters are
free to submit additional comments at this time, they need not re-
submit earlier comments.
Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-FICC-2018-013 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-FICC-2018-013. 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 (http://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 inspection
and copying at the principal office of FICC and on DTCC's website
(http://dtcc.com/legal/sec-rule-filings.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-FICC-2018-013 and should be submitted on
or before March 14, 2019.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-02896 Filed 2-20-19; 8:45 am]
BILLING CODE 8011-01-P