[Federal Register Volume 89, Number 94 (Tuesday, May 14, 2024)]
[Notices]
[Page 42005]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-10430]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100077; File No. SR-NSCC-2024-003]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change To Amend the Clearing Agency Risk 
Management Framework

May 8, 2024.
    On March 11, 2024, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change SR-NSCC-2024-003 (``Proposed 
Rule Change'') pursuant to section 19(b) of the Securities Exchange Act 
of 1934 (``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder to amend 
the Clearing Agency Risk Management Framework of NSCC and its 
affiliates, The Depository Trust Company (``DTC'') and Fixed Income 
Clearing Corporation (``FICC,'' and together with NSCC and DTC, the 
``Clearing Agencies'') to describe how the Clearing Agencies may 
solicit views of participants and other industry stakeholders, and to 
provide for the annual assessment and subsequent review of FICC's 
Government Securities Division access models by FICC's Board of 
Directors.\3\ The Proposed Rule Change was published for public comment 
in the Federal Register on March 26, 2024.\4\ The Commission has 
received comments regarding the substance of the changes proposed in 
the Proposed Rule Change.\5\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, at 89 FR 21091.
    \4\ Securities Exchange Act Release No. 99803 (March 20, 2024), 
89 FR 21091 (March 26, 2024) (File No. SR-NSCC-2024-003) (``Notice 
of Filing'').
    \5\ Comments on the Proposed Rule Change were received under an 
affiliated filing and are available at https://www.sec.gov/comments/sr-ficc-2024-006/srficc2024006.htm.
---------------------------------------------------------------------------

    Section 19(b)(2)(i) of the Exchange Act \6\ 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.\7\ 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.\8\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2)(i).
    \7\ 15 U.S.C. 78 s(b)(2)(ii).
    \8\ Id.
---------------------------------------------------------------------------

    The 45th day after publication of the Notice of Filing is May 10, 
2024. 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,\9\ designates June 24, 2024, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-NSCC-2024-
003.
---------------------------------------------------------------------------

    \9\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-10430 Filed 5-13-24; 8:45 am]
BILLING CODE 8011-01-P