[Federal Register Volume 89, Number 209 (Tuesday, October 29, 2024)]
[Notices]
[Page 86046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25051]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101412; File No. SR-OCC-2024-011]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change, as Modified by Partial Amendment No. 1, by the 
Options Clearing Corporation Concerning Its Stock Loan Programs

October 23, 2024.
    On August 22, 2024, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2024-011 pursuant to Section 19(b) of the 
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
\2\ thereunder to address limitations in the structure of OCC's Stock 
Loan/Hedge (``Hedge'') Program and Market Loan Program (together, the 
``Stock Loan Programs'') by creating the framework for a single, 
enhanced program designed to support current and future needs. The 
proposed rule change, as modified by Partial Amendment No. 1 (hereafter 
``Proposed Rule Change''), was published for public comment in the 
Federal Register on September 10, 2024.\3\ The Commission has not 
received comments regarding the Proposed Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 100930 (Sept. 4, 2024), 
89 FR 73466 (Sept. 10, 2024) (File No. SR-OCC-2024-011).
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    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\
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    \4\ 15 U.S.C. 78s(b)(2)(i).
    \5\ 15 U.S.C. 78s(b)(2)(ii).
    \6\ Id.
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    The 45th day after publication of the Notice of Filing is October 
25, 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,\7\ designates December 9, 2024, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove the Proposed Rule Change.
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-25051 Filed 10-28-24; 8:45 am]
BILLING CODE 8011-01-P