Document ID: SEC-2019-0185-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Fixed Income Clearing Corp.
Posted Date: 2019-02-21T05:00Z

[Federal Register Volume 84, Number 35 (Thursday, February 21, 2019)]
[Notices]
[Pages 5523-5524]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02896]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85137; File No. SR-FICC-2018-013]

Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action and 
Reopening the Period for Comment on Proposed Rule Change To Expand 
Sponsoring Member Eligibility in the Government Securities Division 
Rulebook and Make Other Changes

February 14, 2019.
    On December 13, 2018, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ proposed rule change SR-
FICC-2018-013 to expand sponsoring member eligibility and make other 
changes.\3\ The proposed rule change was published for comment in the 
Federal Register on December 31, 2018.\4\ As of February 13, 2019, the 
Commission has received five comment letters to the proposed rule 
change,\5\ including a response letter from FICC.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On December 13, 2018, FICC also filed the proposal contained 
in the proposed rule change as advance notice SR-FICC-2018-802 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), and Rule 19b-4(n)(1)(i) of 
the Act, 17 CFR 240.19b-4(n)(1)(i).
    \4\ Securities Exchange Act Release No. 84951 (December 21, 
2018), 83 FR 67801 (December 31, 2018) (SR-FICC-2018-013) 
(``Notice'').
    \5\ See letter from Robert E. Pooler, Jr., Chief Financial 
Officer, Ronin Capital, LLC, dated January 18, 2019, to Brent J. 
Fields, Secretary, Commission (``Ronin Letter''); letter from James 
Tabacchi, Chairman, Independent Dealer and Trade Association, dated 
January 22, 2019, to Brent J. Fields, Secretary, Commission (``IDTA 
Letter''); letter from Robert Toomey, Managing Director and 
Associate General Counsel, Securities Industry and Financial Markets 
Association, dated January 22, 2019, to Brent J. Fields, Secretary, 
Commission (``SIFMA Letter''); letter from Stephen John Berger, 
Managing Director, Government & Regulatory Policy, Citadel, dated 
January 30, 2019, to Brent J. Fields, Secretary, Commission 
(``Citadel Letter''); and letter from Murray Pozmanter, Managing 
Director, DTCC, dated February 4, 2019, to Brent J. Fields, 
Secretary, Commission (``FICC Response Letter''). See comments on 
the proposed rule change (SR-FICC-2018-013), available at https://www.sec.gov/comments/sr-ficc-2018-013/srficc2018013.htm. Because the 
proposal contained in the proposed rule change was also filed as an 
advance notice, supra note 3, the Commission is considering all 
public comments received on the proposal regardless of whether the 
comments were submitted to the advance notice or the proposed rule 
change.
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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 February 14, 2019.
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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. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
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 March 31, 2019 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-FICC-2018-013).
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    \7\ 15 U.S.C. 78s(b)(2).
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    The Commission also seeks additional comment to help further inform 
its analysis of the proposed rule change. The comment period for the 
proposed rule change ended on January 22, 2019.\8\ As of February 13, 
2019, the Commission has received five comment letters to the proposed 
rule change.\9\ The Commission is reopening the comment period for the 
proposed rule change to allow interested persons additional time to 
analyze the issues and prepare their comments. Accordingly, the 
Commission designates [insert date 21 days from publication in the 
Federal Register] as the date comments should be submitted on or 
before.
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    \8\ Notice, 83 FR at 67808.
    \9\ See supra note 5.
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    Specifically, the Commission invites interested persons to provide 
views, data, and arguments concerning the proposed rule change, 
including whether the proposed rule change is consistent with the Act 
and the applicable rules or regulations thereunder. Please note that 
comments previously received on the substance of the proposed rule 
change will be considered together with comments

[[Page 5524]]

submitted in response to this notice. Therefore, while commenters are 
free to submit additional comments at this time, they need not re-
submit earlier comments.
    Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-FICC-2018-013 on the subject line.

Paper Comments

 Send paper comments in triplicate to Secretary, Securities and 
Exchange Commission, 100 F Street NE, Washington, DC 20549.

All submissions should refer to File Number SR-FICC-2018-013. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's internet website (http://www.sec.gov/rules/sro.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the proposed rule change that are filed with 
the Commission, and all written communications relating to the proposed 
rule change between the Commission and any person, other than those 
that may be withheld from the public in accordance with the provisions 
of 5 U.S.C. 552, will be available for website viewing and printing in 
the Commission's Public Reference Room, 100 F Street NE, Washington, DC 
20549 on official business days between the hours of 10:00 a.m. and 
3:00 p.m. Copies of the filing also will be available for inspection 
and copying at the principal office of FICC and on DTCC's website 
(http://dtcc.com/legal/sec-rule-filings.aspx). All comments received 
will be posted without change. Persons submitting comments are 
cautioned that we do not redact or edit personal identifying 
information from comment submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-FICC-2018-013 and should be submitted on 
or before March 14, 2019.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-02896 Filed 2-20-19; 8:45 am]
 BILLING CODE 8011-01-P