Document ID: SEC-2022-0465-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: National Securities Clearing Corp.
Posted Date: 2022-04-04T04:00Z

[Federal Register Volume 87, Number 64 (Monday, April 4, 2022)]
[Notices]
[Pages 19549-19550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06982]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34 94537; File No. SR-NSCC-2021-010]

Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Withdrawal of a Proposed Rule Change To 
Establish the Securities Financing Transaction Clearing Service and 
Make Other Changes

March 29, 2022.
    On July 22, 2021, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') proposed rule change SR-NSCC-2021-010 (``Proposed Rule 
Change'') pursuant to Section 19(b)(1) of the Securities Exchange Act 
of 1934 (``Act'') \1\ and Rule 19b-4 thereunder.\2\ The Proposed Rule 
Change was published for comment in the Federal Register on August 12, 
2021.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 92570 (August 5, 2021), 
86 FR 44482 (August 12, 2021) (SR-NSCC-2021-010). NSCC also filed 
the proposal contained in the Proposed Rule Change as advance notice 
SR-NSCC-2021-803 (``Advance Notice'') with the Commission pursuant 
to Section 806(e)(1) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act entitled the Payment, Clearing, and 
Settlement Supervision Act of 2010 (``Clearing Supervision Act''). 
12 U.S.C. 5465(e)(1); 17 CFR 240.19b-4(n)(1)(i). Notice of filing of 
the Advance Notice was published for comment in the Federal Register 
on August 12, 2021. Securities Exchange Act Release No. 92568 
(August 5, 2021), 86 FR 44530 (August 12, 2021) (SR-NSCC-2021-803). 
The proposal contained in the Proposed Rule Change and the Advance 
Notice shall not take effect until all regulatory actions required 
with respect to the proposal are completed.
---------------------------------------------------------------------------

    On September 2, 2021, pursuant to Section 19(b)(2) of the Act,\4\ 
the Commission designated a longer period within which to approve, 
disapprove, or institute proceedings to determine whether to approve or 
disapprove the Proposed Rule Change.\5\ On November 5, 2021, the 
Commission instituted proceedings pursuant to Section

[[Page 19550]]

19(b)(2)(B) of the Act,\6\ to determine whether to approve or 
disapprove the Proposed Rule Change.\7\ On February 7, 2022, pursuant 
to Section 19(b)(2) of the Act,\8\ the Commission designated a longer 
period for Commission action on the proceedings to determine whether to 
approve or disapprove the Proposed Rule Change.\9\
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
    \5\ Securities Exchange Act Release No. 92860 (September 2, 
2021), 86 FR 50569 (September 9, 2021) (SR-NSCC-2021-010).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ Securities Exchange Act Release No. 93532 (November 5, 
2021), 86 FR 62851 (November 12, 2021) (SR-NSCC-2021-010).
    \8\ 15 U.S.C. 78s(b)(2).
    \9\ Securities Exchange Act Release No. 94168 (February 7, 
2022), 87 FR 8062 (February 11, 2022) (SR-NSCC-2021-010).
---------------------------------------------------------------------------

    On March 25, 2022, NSCC withdrew the Proposed Rule Change (SR-NSCC-
2021-010).
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-06982 Filed 4-1-22; 8:45 am]
BILLING CODE 8011-01-P