Document ID: SEC-2023-0561-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Options Clearing Corp.
Posted Date: 2023-05-24T04:00Z

[Federal Register Volume 88, Number 100 (Wednesday, May 24, 2023)]
[Notices]
[Page 33655]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-10988]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97525; File No. SR-OCC-2023-003]

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change by The Options Clearing Corporation Concerning 
Clearing Member Cybersecurity Obligations

May 18, 2023.
    On March 21, 2023, the Options Clearing Corporation (``OCC'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2023-003 pursuant to Section 19(b) of the 
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
\2\ thereunder to amend certain provisions in OCC's Rules relating to 
Clearing Member cybersecurity obligations to address the occurrence of 
a cyber-related disruption or intrusion of a Clearing Member 
(``Security Incident''). The proposed rule change was published for 
public comment in the Federal Register on April 5, 2023.\3\ The 
Commission has received two comments regarding the proposal described 
in 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. 97225 (Mar. 30, 2023), 
88 FR 20195 (Apr. 5, 2023) (File No. SR-OCC-2023-003) (``Notice of 
Filing'').
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    Section 19(b)(2) of the Exchange Act \4\ 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 of 
Filing is May 20, 2023. The Commission is extending this 45-day time 
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    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.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Exchange Act,\5\ designates July 4, 2023 as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-OCC-2023-
003.
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-10988 Filed 5-23-23; 8:45 am]
BILLING CODE 8011-01-P