Document ID: SEC-2021-0487-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Options Clearing Corp.
Posted Date: 2021-04-12T04:00Z

[Federal Register Volume 86, Number 68 (Monday, April 12, 2021)]
[Notices]
[Pages 19066-19067]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07386]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91483; File No. SR-OCC-2021-003]

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Establish OCC's Persistent Minimum Skin-in-the-
Game

April 6, 2021.
    On February 10, 2021, the Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2021-003 (``Proposed Rule Change'') 
pursuant to Section 19(b) of the Securities Exchange Act of 1934 
(``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder to establish a 
persistent minimum level of skin-in-the-game that OCC would contribute 
to cover default losses or liquidity shortfalls.\3\ The Proposed Rule 
Change was published for public comment in the Federal Register on 
March 2, 2021.\4\ The Commission has received comments regarding the 
proposal described in the Proposed Rule Change.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, 86 FR at 12237.
    \4\ Securities Exchange Act Release No. 91199 (Feb. 24, 2021), 
86 FR 12237 (Mar. 2, 2021) (File No. SR-OCC-2021-003) (``Notice of 
Filing''). OCC also filed a related advance notice, SR-OCC-2021-801, 
(``Advance Notice'') with the Commission pursuant to Section 
806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act, entitled the Payment, Clearing, and 
Settlement Supervision Act of 2010 and Rule 19b-4(n)(1)(i) under the 
Exchange Act. 12 U.S.C. 5465(e)(1). 15 U.S.C. 78s(b)(1) and 17 CFR 
240.19b-4, respectively. The Advance Notice was published in the 
Federal Register on March 1, 2021. Securities Exchange Act Release 
No. 91184 (Feb. 23, 2021), 86 FR 12057 (Mar. 1, 2021) (File No. SR-
OCC-2021-801).
    \5\ Comments on the Proposed Rule Change are available at 
https://www.sec.gov/comments/sr-occ-2021-003/srocc2021003.htm.
    Since the proposal contained in the Proposed Rule Change was 
also filed as an advance notice, all public comments received on the 
proposal are considered regardless of whether the comments are 
submitted on the Proposed Rule Change or the Advance Notice. 
Comments on the Advance Notice are available at https://www.sec.gov/comments/sr-occ-2021-801/occ2021801.htm.
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    Section 19(b)(2) of the Exchange 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

[[Page 19067]]

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 April 16, 2021. The Commission is extending 
this 45-day time period.
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    \6\ 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,\7\ designates May 31, 2021 as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-OCC-2021-
003.
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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. 2021-07386 Filed 4-9-21; 8:45 am]
BILLING CODE 8011-01-P