Federal Register / Vol. 87, No. 108 / Monday, June 6, 2022 / Notices 34345 

53 Id. 

54 17 CFR 240.17Ad–22(e)(19). 

55 Id. 

56 17 CFR 240.17Ad–22(e)(21). 

57 Id. 

58 15 U.S.C. 78q–1. 

59 15 U.S.C. 78s(b)(2). 

60 In approving the proposed rule change, the 

Commission considered the proposals’ impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). See also Section II.B. 

61 17 CFR 200.30–3(a)(12). 

or Agent Clearing Member applicant is 

a registered broker-dealer, it would be 

subject to particular financial resource 

requirements, as specified in the 

proposed rule. Only a qualified 

institutional buyer or a legal entity that 

satisfies the financial requirements 

necessary to be a qualified institutional 

buyer would be eligible to be a 

Sponsored Member. In addition, an 

applicant must provide adequate 

assurances for its financial 

responsibility and operational 

capability. 

Second, the proposal is reasonably 

designed to allow direct and indirect 

participants to access the new SFT 

central clearing service by establishing 

new membership categories to allow for 

such access by particular types of 

market participants. For example, a 

participant who cannot or does not want 

to meet the requirements to become 

either a member, a Sponsoring Member, 

or an Agent Clearing Member can 

participate as a Sponsored Member or as 

a Customer, the latter of which does not 

have a direct relationship with NSCC. 

Third, the proposal is reasonably 

designed to allow NSCC to monitor 

compliance with participation 

requirements on an ongoing basis. The 

proposal would require an SFT member 

to notify NSCC if it is no longer in 

compliance with applicable 

requirements to be an SFT member, and 

allow NSCC to inspect SFT members’ 

financial resources and operational 

capability on an ongoing basis. 

For the foregoing reasons, the 

Commission believes that the proposal 

is consistent with Rule 17Ad– 

22(e)(18).53

E. Consistency With Rule 17Ad– 

22(e)(19) 

Rule 17Ad–22(e)(19) under the 

Exchange Act requires a covered 

clearing agency to establish, implement, 

maintain, and enforce written policies 

and procedures reasonably designed to 

identify, monitor, and manage the 

material risks to the covered clearing 

agency arising from arrangements in 

which firms that are indirect 

participants in the covered clearing 

agency rely on the services provided by 

direct participants to access the covered 

clearing agency’s payment, clearing, or 

settlement facilities.54

The proposal allows Sponsoring 

Members to submit Sponsored 

Members’ transactions to NSCC, and 

Agent Clearing Members to submit its 

Customers’ transactions to NSCC. In 

both cases, Sponsoring Members and 

Agent Clearing Members would be 

ultimately responsible to NSCC for 

Sponsored Members’ and Customers’ 

transactions and liable to satisfy all 

settlement obligations. Both Sponsoring 

Members and Agent Clearing Members 

serve as the processing agent for all the 

Sponsored Member and Customer 

transactions responsible for posting 

margin and satisfying any losses arising 

from the client transactions. Sponsoring 

Members and Customers do not have 

any direct mechanism to submit their 

own margin or settle transactions 

directly with NSCC. Moreover, even 

though Sponsored Members would be 

principally liable for their own 

settlement obligations, Sponsoring 

Members’ guaranty requires Sponsoring 

Members to satisfy settlement 

obligations on behalf of its Sponsored 

Members. 

By calculating and collecting margins 

for Sponsored Members’ and Customers’ 

transactions and providing certainty 

that Sponsoring Members and Agent 

Clearing Members would be responsible 

for their Sponsored Members’ and 

Customers’ transactions, the 

Commission believes that the proposal 

is consistent with Rule 17Ad– 

22(e)(19).55

F. Consistency With Rule 17Ad– 

22(e)(21) 

Rule 17Ad–22(e)(21) under the 

Exchange Act requires a covered 

clearing agency to establish, implement, 

maintain, and enforce written policies 

and procedures reasonably designed to 

be efficient and effective in meeting the 

requirements of its participants and the 

markets it serves, including the clearing 

agency’s clearing and settlement 

arrangements and the scope of products 

cleared or settled.56

As described above in Section II.B.(1) 

and (2), the proposal is designed to 

reflect the current structure of the 

bilateral securities lending market, 

ensuring that relevant features and 

market participants subject to differing 

regulatory requirements and existing 

contractual relationships can be 

accommodated as part of the service 

provided by NSCC. For example, the 

proposal would allow for central 

clearing of SFTs with a one business 

day term, in order to provide a 

scheduled settlement date so that the 

transaction may be eligible for balance 

sheet netting benefit as explained in 

Section II.(B)(1). Second, the proposal 

would allow accelerated settlement so 

that certain market participants are able 

to quickly unwind their SFTs to satisfy 

applicable regulatory requirements. 

Third, the proposed membership 

categories would accommodate 

principal and agency trading to allow 

different types of market participants to 

enter into the new SFT central clearing 

service, consistent with their business 

models and applicable regulatory 

requirements. 

Accordingly, the Commission believes 

that the proposal is reasonably designed 

to be efficient and effective in meeting 

the requirements of its participants and 

the market it serves, and consistent with 

Rule 17Ad–22(e)(21).57

VI. Conclusion 

On the basis of the foregoing, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and in 

particular with the requirements of 

Section 17A of the Act 58 and the rules 

and regulations promulgated 

thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act 59 that 

proposed rule change SR–NSCC–2022– 

003, be, and hereby is, APPROVED.60

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.61

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–12009 Filed 6–3–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 10:30 a.m. on Thursday, 

June 9, 2022. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

In the event that the time, date, or 

location of this meeting changes, an 


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34346 Federal Register / Vol. 87, No. 108 / Monday, June 6, 2022 / Notices 

announcement of the change, along with 

the new time, date, and/or place of the 

meeting will be posted on the 

Commission’s website at https://

www.sec.gov. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations 

and enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

(Authority: 5 U.S.C. 552b.) 

Dated: June 2, 2022. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2022–12247 Filed 6–2–22; 4:15 pm] 

BILLING CODE 8011–01–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of persons whose property and interests 

in property have been unblocked and 

have been removed from the list of 

Specially Designated Nationals and 

Blocked Persons. 

DATES: See SUPPLEMENTARY INFORMATION

section for effective date(s). 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Andrea Gacki, Director, tel.: 

202–622–2490; Associate Director for 

Global Targeting, tel: 202–622–2420; 

Assistant Director for Licensing, tel.: 

202–622–2480; Assistant Director for 

Regulatory Affairs, tel.: 202–622–4855; 

or Assistant Director for Sanctions 

Compliance & Evaluation, tel.: 202–622– 

2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The Specially Designated Nationals 

and Blocked Persons List (SDN List) and 

additional information concerning 

OFAC sanctions programs are available 

on OFAC’s website (https://

www.treasury.gov/ofac). 

Notice of OFAC Actions 

On May 27, 2022, OFAC determined 

that the property and interests in 

property subject to U.S. jurisdiction of 

the following persons are unblocked 

and they have been removed from the 

SDN List. 

Individuals 

1. ALVAREZ MONTELONGO, Julio Cesar 

(a.k.a. ALVAREZ, Julion), Paseo de la 

Hacienda 443, Fracc. Los Mangos, Mazatlan, 

Sinaloa, Mexico; Ontario 1102, Col. 

Providencia, Guadalajara, Jalisco 44630, 

Mexico; Coras 3644, Col. Monraz, 

Guadalajara, Jalisco 44670, Mexico; Av. 

Manuel Acuna 3497, Col. Rinconada Santa 

Rita, Guadalajara, Jalisco 44690, Mexico; 

DOB 11 Apr 1983; POB La Concordia, 

Chiapas, Mexico; citizen Mexico; website 

www.julionalvarez.net; Gender Male; R.F.C. 

AAMJ8304112F0 (Mexico); C.U.R.P. 

AAMJ830411HCSLNL05 (Mexico) 

(individual) [SDNTK] (Linked To: JCAM 

EDITORA MUSICAL, S.A. DE C.V.; Linked 

To: NORYBAN PRODUCTIONS, S.A. DE 

C.V.; Linked To: TICKET BOLETO, S.A. DE 

C.V.; Linked To: FLORES DRUG 

TRAFFICKING ORGANIZATION). 

2. CUELLAR HURTADO, Hugo, Av. 

Artesanos 1498, Colonia Oblatos, Zapopan, 

Jalisco, Mexico; Calle Paseo de la Pradera 23, 

Fraccionamiento Royal Country, Zapopan, 

Jalisco, Mexico; Kr 76 173 45 In 4, Bogota, 

Colombia; Trv 176 N 56 25, Bogota, 

Colombia; DOB 18 May 1947; POB Florencia, 

Caqueta, Colombia; Cedula No. 17622278 

(Colombia); C.U.R.P. 

CUHH470518HNELRG00 (Mexico) 

(individual) [SDNTK] (Linked To: 

AGRICOLA Y GANADERA CUEMIR, S.P.R. 

DE R.I.; Linked To: AGRO Y COMERCIO DE 

SANTA BARBARA LAGROMER S. EN C.; 

Linked To: COMPANIA AGRO COMERCIAL 

CUETA S. EN C.; Linked To: COOPERATIVA 

AVESTRUZ CUEMIR, S.C. DE R.L. DE C.V.; 

Linked To: INVERSIONES HUNEL LTDA.; 

Linked To: CASA COMERCIAL UNI QUINCE 

COMPRAVENTA). 

3. CUELLAR SILVA, Victor Hugo; DOB 18 

Oct 1985; POB Bogota, Colombia; Cedula No. 

1032359750 (Colombia) (individual) 

[SDNTK] (Linked To: AGRO Y COMERCIO 

DE SANTA BARBARA LAGROMER S. EN C.; 

Linked To: COMPANIA AGRO COMERCIAL 

CUETA S. EN C.; Linked To: INVERSIONES 

HUNEL LTDA.; Linked To: HOTEL PARAISO 

RESORT EN ARRENDAMIENTO; Linked To: 

PRENDA TODO, S.A. DE C.V.). 

4. CUELLAR SILVA, Jenny Johanna, 

Avenida Mexico 3335, Vallarta San Jorge, 

Guadalajara, Jalisco 44690, Mexico; Clle 57 N 

24 72, Bogota, Colombia; Cometa # 2910, Col. 

Jardines del Bosque, Guadalajara, Jalisco 

44520, Mexico; Prados de los Lirios # 4142, 

Casa 6, Col. Prados Tepeyac, Zapopan, Jalisco 

45050, Mexico; DOB 11 Jul 1980; POB 

Florencia, Caqueta, Colombia; Cedula No. 

52708729 (Colombia) (individual) [SDNTK] 

(Linked To: AGRO Y COMERCIO DE SANTA 

BARBARA LAGROMER S. EN C.; Linked To: 

COMPANIA AGRO COMERCIAL CUETA S. 

EN C.; Linked To: INVERSIONES HUNEL 

LTDA.; Linked To: PRENDA TODO, S.A. DE 

C.V.). 

5. MIRAMONTES GUTIERREZ, Ofelia 

Margarita, Calle Paseo del Ocelote 161, 

Fraccionamiento Bugambilias, Zapopan, 

Jalisco, Mexico; DOB 24 Apr 1968; POB 

Guadalajara, Jalisco, Mexico; C.U.R.P. 

MIGO680424MJCRTF03 (Mexico) 

(individual) [SDNTK] (Linked To: 

AGRICOLA Y GANADERA CUEMIR, S.P.R. 

DE R.I.; Linked To: COOPERATIVA 

AVESTRUZ CUEMIR, S.C. DE R.L. DE C.V.). 

6. VARGAS NUNEZ, Lucy Amparo (a.k.a. 

VARGAS DE CUADROS, Lucy Amparo), Kra 

3 N 2B–22, Barrio Los Amigos, El Colegio, 

Cundinamarca, Colombia; DOB 26 Mar 1958; 

POB San Pedro, Valle, Colombia; Cedula No. 

38858512 (Colombia) (individual) [SDNTK] 

(Linked To: AGRO Y COMERCIO DE SANTA 

BARBARA LAGROMER S. EN C.; Linked To: 

COMPANIA AGRO COMERCIAL CUETA S. 

EN C.; Linked To: INVERSIONES HUNEL 

LTDA.). 

Entities 

1. JCAM EDITORA MUSICAL, S.A. DE 

C.V., Mazatlan, Sinaloa, Mexico; Av. Manuel 

Acuna 3497, Terrazas Monraz, Guadalajara, 

Jalisco 44670, Mexico; Folio Mercantil No. 

19365 (Sinaloa) (Mexico) [SDNTK]. 

2. NORYBAN PRODUCTIONS, S.A. DE 

C.V., Mazatlan, Sinaloa, Mexico; Av. 

Gutierrez Najera 104 Altos, Centro, Mazatlan, 

Sinaloa 82000, Mexico; Coras 3644, 

Guadalajara, Jalisco 44670, Mexico; Calle 

Manuel Acuna 3497, Col. Santa Rita, 

Guadalajara, Jalisco 44690, Mexico; Ontario 

1102, Col. Providencia, Guadalajara, Jalisco 

44630, Mexico; R.F.C. NPR0903058I3 

(Mexico); Folio Mercantil No. 18949 

(Sinaloa) (Mexico) [SDNTK]. 

3. TICKET BOLETO, S.A. DE C.V., 

Guadalajara, Jalisco, Mexico; Folio Mercantil 

No. 88198 (Jalisco) (Mexico) [SDNTK]. 

4. AGRICOLA Y GANADERA CUEMIR, 

S.P.R. DE R.I. (a.k.a. RANCHO LA 

HERRADURA CUEMIR), Av. Prolongacion 

Vallarta No. 600, Zona Centro, Tlajomulco de 

Zuniga, Jalisco C.P. 45640, Mexico; Folio 

Mercantil No. 17919–1 (Mexico) [SDNTK]. 

5. AGRO Y COMERCIO DE SANTA 

BARBARA LAGROMER S. EN C., Cl 57 No. 

24–72 Of 102 P 2, Bogota, Colombia; NIT # 

800016670–7 (Colombia) [SDNTK]. 

6. CASA COMERCIAL UNI QUINCE 

COMPRAVENTA, Av. 15 No. 124–09 LC 102, 

Bogota, Colombia; Matricula Mercantil No 

00666561 (Colombia) [SDNTK]. 

7. COMPANIA AGRO COMERCIAL 

CUETA S. EN C., Cl 57 No. 24–72 Local 102, 

Bogota, Colombia; NIT # 800007394–0 

(Colombia) [SDNTK]. 


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