Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / Notices 8557 

24 15 U.S.C. 78q–1(b)(3)(F). 

25 15 U.S.C. 78q–1(b)(3)(F). 

26 15 U.S.C. 78q–1(b)(3)(F). 

27 15 U.S.C. 78q–1(b)(3)(F). 

28 15 U.S.C. 78q–1. 

29 15 U.S.C. 78s(b)(2). 

30 In approving the Proposed Rule Changes, the 

Commission considered its impact on efficiency, 

competition, and capital formation. 15 U.S.C. 78c(f). 

31 17 CFR 200.30–3(a)(12). 

clearance and settlement of securities 

transactions and assure the safeguarding 

of securities and funds which are in the 

custody or control of the clearing agency 

or for which it is responsible.24

As described above, the Clearing 

Agencies propose to amend the 

Investment Policy to support changes 

made to GSD Rules pursuant to the 

Account Segregation Filing. The 

proposed changes to the Investment 

Policy in Section 3.2 to state that 

Segregated Customer Margin shall be 

segregated and held separately and 

independently from any other funds in 

compliance with applicable conditions 

set out in Rule 15c3–3 and Rule 15c3– 

3a should enhance the Clearing 

Agencies’ ability to meet their 

settlement obligations in the event of a 

Netting Member or indirect participant 

default. By doing so, the Proposed Rule 

Changes should better ensure that, in 

the event of a default, the Clearing 

Agencies’ operation of its critical 

clearance and settlement services would 

not be disrupted because of insufficient 

financial resources and, therefore, that 

the Clearing Agencies would be able to 

continue providing prompt and accurate 

clearance and settlement of securities 

transactions, consistent with Section 

17A(b)(3)(F).25

In addition, the investment guidelines 

and governance procedures set forth in 

the Investment Policy are designed to 

safeguard the securities and funds that 

are in the custody or control of the 

Clearing Agencies on behalf of thier 

members. Specifically, the Proposed 

Rule Changes amend Section 6.1 of the 

Investment Policy to specify Segregated 

Customer Margin as an Allowable 

Investment and those funds shall only 

be held in an account of FICC at a bank 

that is insured by the FDIC, or at the 

Federal Reserve Bank of New York 

consistent with GSD Rules. In addition, 

the Proposed Rule Changes would align 

the terminology used in the Investment 

Policy with the terminology used in the 

GSD Rules to clarify the investable 

funds that are subject to the Investment 

Policy. By eliminating inconsistent use 

of terminology, the proposed changes 

should help to improve the effectiveness 

of the Investment Policy. Therefore, the 

Proposed Rule Changes would 

implement changes to the Investment 

Policy that are consistent with changes 

made to the GSD Rules pursuant the 

Account Segregation Filing, and also 

should safeguard the securities and 

funds in custody or control of the 

Clearing Agencies on behalf of its 

members, consistent with Section 

17A(b)(3)(F).26

For these reasons, the Proposed Rule 

Changes are designed to promote the 

prompt and accurate clearance and 

settlement of securities transactions and 

assure the safeguarding of securities and 

funds which are in the custody or 

control of the clearing agency or for 

which it is responsible, consistent with 

Section 17A(b)(3)(F) of the Act.27

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the Proposed 

Rule Changes are consistent with the 

requirements of the Act and in 

particular with the requirements of 

Section 17A of the Act 28 and the rules 

and regulations promulgated 

thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act 29 that 

proposed rule changes SR–DTC–2024– 

011, SR–FICC–2024–011, and SR– 

NSCC–2024–010, be, and hereby are, 

approved.30

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01931 Filed 1–29–25; 8:45 am] 

BILLING CODE 8011–01–P 

SELECTIVE SERVICE SYSTEM 

Recission of Performance Review 

Board 

AGENCY: Selective Service System. 

ACTION: Notice. 

SUMMARY: Selective Service System 

Rescinds its Performance Review Board 

[FR Doc. 2024–24311 Filed 10–18–24; 

8:45 a.m.] per the President’s 

Memorandum on Restoring 

Accountability for Career Senior 

Executives, dated January 20, 2025. 

FOR FURTHER INFORMATION CONTACT: Lee 

Levells, Human Resources Officer, 

Selective Service System, 1501 Wilson 

Blvd., Arlington, VA 22209, telephone: 

703–605–4011. 

SUPPLEMENTARY INFORMATION: Sec. 

4314(c) (1) through (5) of title 5, U.S.C., 

requires each agency to establish, in 

accordance with regulations prescribed 

by the Office of Personnel Management, 

one or more performance review boards. 

The board shall review and evaluate the 

initial appraisal of a senior executive’s 

performance by the supervisor, along 

with any recommendations to the 

appointing authority relative to the 

performance of the senior executive. 

President’s Memorandum on Restoring 

Accountability for Career Senior 

Executives, dated January 20, 2025, 

directs Agency heads to rescind their 

Performance Review Board and reconstitute membership with individuals 

committed to full enforcement of SES 

performance evaluations that promote 

and assure an SES of the highest caliber. 

The SSS PRB will be established at a 

later date once the Agency’s appointees 

are in place. 

Daniel A. Lauretano, Sr., 

General Counsel. 

[FR Doc. 2025–01947 Filed 1–29–25; 8:45 am] 

BILLING CODE 8015–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[Docket No.: FAA–2024–2560; Summary 

Notice No. –2025–06] 

Petition for Exemption; Summary of 

Petition Received; The Board of 

Regents of the Nevada System of 

Higher Education on Behalf of Desert 

Research Institute. 

AGENCY: Federal Aviation 

Administration (FAA), Department of 

Transportation (DOT). 

ACTION: Notice. 

SUMMARY: This notice contains a 

summary of a petition seeking relief 

from specified requirements of Federal 

Aviation Regulations. The purpose of 

this notice is to improve the public’s 

awareness of, and participation in, the 

FAA’s exemption process. Neither 

publication of this notice nor the 

inclusion nor omission of information 

in the summary is intended to affect the 

legal status of the petition or its final 

disposition. 

DATES: Comments on this petition must 

identify the petition docket number and 

must be received on or before February 

19, 2025. 

ADDRESSES: Send comments identified 

by docket number FAA–2024–2560 

using any of the following methods: 

• Federal eRulemaking Portal: Go to 

https://www.regulations.gov and follow 

the online instructions for sending your 

comments electronically. 

• Mail: Send comments to Docket 

Operations, M–30; U.S. Department of 


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8558 Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / Notices 

Transportation, 1200 New Jersey 

Avenue SE, Room W12–140, West 

Building Ground Floor, Washington, DC 

20590–0001. 

• Hand Delivery or Courier: Take 

comments to Docket Operations in 

Room W12–140 of the West Building 

Ground Floor at 1200 New Jersey 

Avenue SE, Washington, DC 20590– 

0001, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. 

• Fax: Fax comments to Docket 

Operations at (202) 493–2251. 

Privacy: In accordance with 5 U.S.C. 

553(c), DOT solicits comments from the 

public to better inform its rulemaking 

process. DOT posts these comments, 

without edit, including any personal 

information the commenter provides, to 

https://www.regulations.gov, as 

described in the system of records 

notice (DOT/ALL–14 FDMS), which can 

be reviewed at https://www.dot.gov/ 

privacy. 

Docket: Background documents or 

comments received may be read at 

https://www.regulations.gov at any time. 

Follow the online instructions for 

accessing the docket or go to the Docket 

Operations in Room W12–140 of the 

West Building Ground Floor at 1200 

New Jersey Avenue SE, Washington, DC 

20590–0001, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. 

FOR FURTHER INFORMATION CONTACT: 

Liam Andrews, (202) 267–8181, Office 

of Rulemaking, Federal Aviation 

Administration, 800 Independence 

Avenue SW, Washington, DC 20591. 

This notice is published pursuant to 

14 CFR 11.85. 

Issued in Washington, DC. 

Dan Ngo, 

Manager, Part 11 Petitions Branch, Office of 

Rulemaking. 

Petition for Exemption 

Docket No.: FAA–2024–2560. 

Petitioner: The Board of Regents of the 

Nevada System of Higher Education on 

behalf of Desert Research Institute. 

Section(s) of 14 CFR Affected: 

§§ 61.3(a)(1)(i), 61.23(a)(2), 91.7(a), 

91.119(c), 91.121, 91.151(b), 91.403(b), 

91.405(a), 91.407(a)(1), 91.409(a)(1), 

91.409(a)(2), 91.417(a), and 91.417(b). 

Description of Relief Sought: By 

letters dated November 5, 2024, and 

January 9, 2025, as well as a record of 

conversation dated January 8, 2025, The 

Board of Regents of the Nevada System 

of Higher Education on behalf of Desert 

Research Institute (Desert Research 

Institute) seeks relief to operate the 

Freefly Alta X unmanned aircraft system 

(UAS), weighing over 50 pounds (lbs.) 

but no more than 76.9 lbs., for the 

purpose of research and development, 

training of university personnel, and to 

establish a UAS flight experience 

program for non-employees with UAS 

weighing 55 lbs. or more from the FAA 

approved aircraft list. The Desert 

Research Institute requests the removal 

of the 14 CFR part 61 written test 

requirement and seeks to only hold a 

remote pilot certificate for operations. 

[FR Doc. 2025–01909 Filed 1–29–25; 8:45 am] 

BILLING CODE 4910–13–P 


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