Document ID: SEC-2017-0708-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Fixed Income Clearing Corp.
Posted Date: 2017-05-03T04:00Z

[Federal Register Volume 82, Number 84 (Wednesday, May 3, 2017)]
[Notices]
[Page 20685]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-08907]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80524; File No. SR-FICC-2017-002]

Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Implement the Capped Contingency Liquidity 
Facility in the Government Securities Division Rulebook

April 25, 2017.
    On March 1, 2017, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-FICC-2017-002 (``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 implement a Capped 
Contingency Liquidity Facility in FICC's Government Securities Division 
Rulebook.\3\ The Proposed Rule Change was published for comment in the 
Federal Register on March 20, 2017.\4\ To date, the Commission has 
received one comment letter to the Proposed Rule Change.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On March 1, 2017, FICC also filed this Proposed Rule Change 
as advance notice SR-FICC-2017-802 (``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, 12 U.S.C. 
5465(e)(1), and Rule 19b-4(n)(1)(i) of the Act, 17 CFR 240.19b-
4(n)(1)(i). Notice of filing of the Advance Notice was published for 
comment in the Federal Register on March 15, 2017. Securities 
Exchange Act Release No. 80191 (March 9, 2017), 82 FR 13876 (March 
15, 2017) (SR-FICC-2017-802). The Commission extended the review 
period of the Advance Notice from April 30, 2017 to June 29, 2017. 
Securities Exchange Act Release No. 80520 (April 25, 2017) (SR-FICC-
2017-802). The proposal 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.
    \4\ Securities Exchange Act Release No. 80234 (March 14, 2017), 
82 FR 14401 (March 20, 2017) (SR-FICC-2017-002).
    \5\ See letter from Robert E. Pooler, Chief Financial Officer, 
Ronin Capital LLC, dated April 10, 2017, to Robert W. Errett, Deputy 
Secretary, Commission, available at https://www.sec.gov/comments/sr-ficc-2017-002/ficc2017002.htm. Since the proposal contained in the 
Proposed Rule Change was also filed as an Advance Notice, Release 
No. 80191, supra note 3, the Commission is considering all public 
comments received on the proposal regardless of whether the comments 
are submitted to the Proposed Rule Change or the Advance Notice.
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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 this Proposed Rule Change 
is May 4, 2017. 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 Act,\7\ designates 
June 18, 2017 as the date by which the Commission shall either approve, 
disapprove, or institute proceedings to determine whether to disapprove 
proposed rule change SR-FICC-2017-002.
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Eduardo A. Aleman,
Assistant Secretary.
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    \8\ 17 CFR 200.30-3(a)(31).
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[FR Doc. 2017-08907 Filed 5-2-17; 8:45 am]
 BILLING CODE 8011-01-P