Document ID: SEC-2021-0913-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: National Securities Clearing Corp.
Posted Date: 2021-06-30T04:00Z

[Federal Register Volume 86, Number 123 (Wednesday, June 30, 2021)]
[Notices]
[Page 34798]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-13913]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92250; File No. SR-NSCC-2021-005]

Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change To Increase the National Securities 
Clearing Corporation's Minimum Required Fund Deposit

June 24, 2021.

I. Introduction

    On April 26, 2021, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') proposed rule change SR-NSCC-2021-005 (the ``Proposed 
Rule Change'') pursuant to Section 19(b)(1) of the Securities Exchange 
Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder \2\ to increase its 
minimum required fund deposit. The Proposed Rule Change was published 
for comment in the Federal Register on May 14, 2021,\3\ and the 
Commission has received one comment letter \4\ on the changes proposed 
therein.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 91809 (May 10, 2021), 86 
FR 26588 (May 14, 2021) (File No. SR-NSCC-2021-005) (``Notice of 
Filing'').
    \4\ See letter from Parsons, Behle & Latimer, Counsel for Alpine 
Securities Corporation (``Alpine''), dated June 4, 2021, to Vanessa 
Countryman, Secretary, Commission (``Alpine Letter''), available at 
https://www.sec.gov/comments/sr-nscc-2021-005/srnscc2021005.htm.
    \5\ NSCC appended an Exhibit 2 to the materials filed on April 
26, 2021. The appended Exhibit 2 consists of a comment letter that 
NSCC received from one of its members objecting to NSCC's proposal 
in response to member outreach NSCC conducted in 2019. See Notice of 
Filing, supra note 4, at 26593. A copy of the comment letter is 
available at https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-005.pdf.
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    Section 19(b)(2) of the Act \6\ 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 for the Proposed Rule Change 
is June 28, 2021.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the Proposed Rule Change. 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, pursuant to Section 19(b)(2) of the Act \7\ and for 
the reasons stated above, the Commission designates August 12, 2021, as 
the date by which the Commission shall either approve, disapprove, or 
institute proceedings to determine whether to disapprove the Proposed 
Rule Change (File No. SR-NSCC-2021-005).
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    \7\ Id.

    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)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-13913 Filed 6-29-21; 8:45 am]
BILLING CODE 8011-01-P