Document ID: SEC-2021-1177-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: National Securities Clearing Corp.
Posted Date: 2021-08-31T04:00Z

[Federal Register Volume 86, Number 166 (Tuesday, August 31, 2021)]
[Notices]
[Page 48787]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18672]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92750; File No. SR-NSCC-2021-007]

Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change Relating to Confidential Information, 
Market Disruption Events, Systems Disconnect, and Other Changes

August 25, 2021.

I. Introduction

    On June 25, 2021, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') proposed rule change SR-NSCC-2021-007 (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 amend NSCC's 
rules relating to confidentiality requirements, market disruption 
events, systems disconnect, and other changes. The Proposed Rule Change 
was published for comment in the Federal Register on July 13, 2021,\3\ 
and the Commission received a comment, which addresses issues that also 
appear in this Proposed Rule Change.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 92334 (June 25, 2021), 
86 FR 36815 (July 13, 2021) (File No. SR-NSCC-2021-007) (``Notice of 
Filing'').
    \4\ Specifically, the Commission received a comment letter on a 
proposed rule change filed by NSCC's affiliate, the Depository Trust 
Company (``DTC''), regarding parallel changes to DTC's Rules. See 
Securities Exchange Act Release No. 92342 (June 25, 2021), 86 FR 
36833 (July 13, 2021) (File No. SR-DTC-2021-011). The comment letter 
is available on the Commission's website at https://www.sec.gov/comments/sr-dtc-2021-011/srdtc2021011.htm. Because the comment 
addresses issues that also appear in this Proposed Rule Change, the 
Commission will consider it in connection with NSCC's proposal as 
well.
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    Section 19(b)(2) of the Act \5\ 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 effectively Friday, August 27, 2021.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day review 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 \6\ and for 
the reasons stated above, the Commission designates Friday, October 8, 
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-2021-007).
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    \6\ Id.
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2021-18672 Filed 8-30-21; 8:45 am]
BILLING CODE 8011-01-P