Document ID: SEC-2022-0457-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: National Securities Clearing Corp.
Posted Date: 2022-04-04T04:00Z

[Federal Register Volume 87, Number 64 (Monday, April 4, 2022)]
[Notices]
[Page 19569]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06979]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94536; File No. SR-NSCC-2021-803]

Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Withdrawal of an Advance Notice To Establish the 
Securities Financing Transaction Clearing Service and Make Other 
Changes

March 29, 2022.
    On July 22, 2021, National Securities Clearing Corporation 
(``NSCC'') filed with the Securities and Exchange Commission 
(``Commission'') advance notice SR-NSCC-2021-803 (``Advance Notice''), 
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 (``Clearing 
Supervision Act'') \1\ and Rule 19b-4(n)(1)(i) under the Securities 
Exchange Act of 1934 (``Exchange Act'').\2\ The Advance Notice was 
published for comment in the Federal Register on August 12, 2021.\3\
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 5465(e)(1).
    \2\ 17 CFR 240.19b-4(n)(1)(i).
    \3\ Securities Exchange Act Release No. 92568 (August 5, 2021), 
86 FR 44530 (August 12, 2021) (SR-NSCC-2021-803).
---------------------------------------------------------------------------

    On August 30, 2021, the Commission requested additional information 
for consideration of the Advance Notice from NSCC, pursuant to Section 
806(e)(1)(D) of the Clearing Supervision Act,\4\ which tolled the 
Commission's period of review of the Advance Notices until 60 days from 
the date the information required by the Commission was received by the 
Commission.\5\ On December 13, 2021, the Commission received NSCC's 
response to the Commission's request for additional information.\6\
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 5465(e)(1)(D).
    \5\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum 
from the Office of Clearance and Settlement Supervision, Division of 
Trading and Markets, titled ``Commission's Request for Additional 
Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2021/34-92568-memo-nscc.pdf.
    \6\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum 
from the Office of Clearance and Settlement Supervision, Division of 
Trading and Markets, titled ``Response to the Commission's Request 
for Additional Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2021/34-92568-memo-response-nscc.pdf.
---------------------------------------------------------------------------

    On February 7, 2022, under Section 806(e)(1)(H) of the Clearing 
Supervision Act,\7\ the Commission extended the review period of the 
Advance Notice for additional 60 days to issue an objection or non-
objection to the Advance Notice.\8\
---------------------------------------------------------------------------

    \7\ 12 U.S.C. 5465(e)(1)(H).
    \8\ Securities Exchange Act Release No. 94168 (February 7, 
2022), 87 FR 8062 (February 11, 2022) (SR-NSCC-2021-803).
---------------------------------------------------------------------------

    On February 28, 2022, the Commission requested additional 
information for consideration of the Advance Notice from NSCC, pursuant 
to Section 806(e)(1)(D) of the Clearing Supervision Act,\9\ which 
tolled the Commission's period of review of the Advance Notices until 
60 days from the date the information required by the Commission was 
received by the Commission.\10\
---------------------------------------------------------------------------

    \9\ 12 U.S.C. 5465(e)(1)(D).
    \10\ See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see Memorandum 
from the Office of Clearance and Settlement Supervision, Division of 
Trading and Markets, titled ``Commission's Second Request for 
Additional Information,'' available at https://www.sec.gov/rules/sro/nscc-an/2022/34-94203-memo-nscc.pdf.
---------------------------------------------------------------------------

    On March 25, 2022, NSCC filed a withdrawal of the Advance Notice 
(SR-NSCC-2021-803) from consideration by the Commission. The Commission 
is hereby publishing notice of the withdrawal.
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(92).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-06979 Filed 4-1-22; 8:45 am]
BILLING CODE 8011-01-P