81 FR 78678 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 216 (November 8, 2016)

Page Range		78678-78678
FR Document		2016-27029

Federal Register, Volume 81 Issue 216 (Tuesday, November 8, 2016)

[Federal Register Volume 81, Number 216 (Tuesday, November 8, 2016)]
[Notices]
[Page 78678]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-27029]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold a closed meeting on Thursday, 
November 10, 2016, at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii), and (a)(10), permit 
consideration of the scheduled matter at the closed meeting.
    Chair White, as duty officer, voted to consider the items listed 
for the closed meeting in closed session.
    The subject matter of the closed meeting will be:
    Institution and settlement of administrative proceedings; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact Brent J. Fields from 
the Office of the Secretary at (202) 551-5400.

    Dated: November 3, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-27029 Filed 11-4-16; 11:15 am]
 BILLING CODE 8011-01-P

78678 Federal Register / Vol. 81, No. 216 / Tuesday, November 8, 2016 / Notices

to the need for knowledge of spread that the proposed rule change is proposed rule change (File No. SR–ICC–
levels across the entire term structure. consistent with the requirements of the 2016–010) be, and hereby is,
Additionally, to facilitate replication Act and the rules and regulations approved.12
of the enhanced liquidity charge thereunder applicable to such self- For the Commission, by the Division of
calculations, ICC will provide end-of- regulatory organization. Section Trading and Markets, pursuant to delegated
day data for instruments in which 17A(b)(3)(F) of the Act 6 requires, among authority.13
clients have open positions, allowing for other things, that the rules of a clearing Brent J. Fields,
additional transparency and easier agency are designed to promote the Secretary.
replication for clients who wish to prompt and accurate clearance and [FR Doc. 2016–26906 Filed 11–7–16; 8:45 am]
estimate liquidity charges for settlement of securities transactions
BILLING CODE 8011–01–P
hypothetical and current positions. and, to the extent applicable, derivative
ICC also proposes updating liquidity agreements, contracts, and transactions
scaling factors to reflect the and to comply with the provisions of
methodology enhancements. There is no SECURITIES AND EXCHANGE
the Act and the rules and regulations COMMISSION
price based component under the thereunder.
current methodology. To reflect the The Commission finds that the Sunshine Act Meeting
introduction of a price based proposed rule change is consistent with
component, the liquidity scaling factors the requirements of Section 17A of the Notice is hereby given, pursuant to
will be decomposed and adjusted in Act 7 and the rules and regulations the provisions of the Government in the
order to maintain the same overall thereunder applicable to ICC. ICC Sunshine Act, Public Law 94–409, that
composition with both price and spread asserts that the proposed change will the Securities and Exchange
based components. simplify its initial margin methodology Commission will hold a closed meeting
ICC has also proposed minor and lead to more stable initial margin on Thursday, November 10, 2016, at 2
clarifying edits to the ICC Risk requirements. The Commission believes p.m.
Management Framework and the ICC that ICC’s proposed revisions to the ICC Commissioners, Counsel to the
Risk Management Model Description Risk Management Framework and the Commissioners, the Secretary to the
document. ICC will add language to the ICC Risk Model Description Document, Commission, and recording secretaries
Overview section of the Risk including the introduction of minimum will attend the closed meeting. Certain
Management Framework to identify liquidity requirements for the relevant staff members who have an interest in
which ICC documents provide instruments that do not decay over time
additional details regarding ICC’s risk the matters also may be present.
and therefore are independent of The General Counsel of the
management approach. ICC will add
instrument maturities, are reasonably Commission, or her designee, has
language to the Governance and
designed to meet the margin and certified that, in her opinion, one or
Organization section of the Risk
financial resource requirements of Rule more of the exemptions set forth in 5
Management Framework to note that the
17Ad–22(b)(2–3).8 In addition, the U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
reporting line of ICC’s Chief Risk Officer
Commission believes that the revised and 17 CFR 200.402(a)(3), (a)(5), (a)(7),
to the Chairperson of the ICC Risk
methodology should assist market (a)(9)(ii), and (a)(10), permit
Committee, who is also a non-executive
participants clearing or deciding consideration of the scheduled matter at
manager on the Board, allows the Chief
whether to clear instruments through the closed meeting.
Risk Officer to bring any issues or
ICC to estimate liquidity charges for Chair White, as duty officer, voted to
concerns directly to the Board without
hypothetical and current positions. This consider the items listed for the closed
intermediation by other ICC personnel.
enhancement in transparency is meeting in closed session.
ICC will also make edits to the
consistent with Rule 17Ad–22(d)(9),9
Governance and Organization section of The subject matter of the closed
which requires clearing agencies to
the Risk Management Framework to meeting will be:
establish, implement, maintain, and
revise the list of documents reviewed by Institution and settlement of
enforce policies and procedures
the Risk Committee on at least an administrative proceedings; and
reasonably designed to provide market
annual basis to include the ICC End-of- Other matters relating to enforcement
participants with sufficient information
Day Price Discovery Policies and proceedings.
for them to identify and evaluate the
Procedures and the ICC Operational
risks and costs associated with using its At times, changes in Commission
Risk Management Framework. Finally,
service. priorities require alterations in the
ICC will add minor clarifying details to
scheduling of meeting items.
the technical calculation descriptions IV. Conclusion
set forth in the ICC Risk Management For further information and to
On the basis of the foregoing, the ascertain what, if any, matters have been
Model Description document, Commission finds that the proposal is
specifically in the Recovery Rate added, deleted or postponed, please
consistent with the requirements of the contact Brent J. Fields from the Office of
Sensitivity Risk Analysis, Interest Rate Act and in particular with the
Sensitivity Risk Analysis, Spread Risk the Secretary at (202) 551–5400.
requirements of Section 17A of the
Analysis, and Guaranty Fund Size Act 10 and the rules and regulations Dated: November 3, 2016.
Estimation sections. thereunder. Brent J. Fields,
III. Discussion and Commission It is therefore ordered, pursuant to Secretary.
mstockstill on DSK3G9T082PROD with NOTICES

Findings Section 19(b)(2) of the Act,11 that the [FR Doc. 2016–27029 Filed 11–4–16; 11:15 am]
BILLING CODE 8011–01–P
Section 19(b)(2)(C) of the Act 5 directs 6 15 U.S.C. 78q–1(b)(3)(F).
the Commission to approve a proposed 7 15 U.S.C. 78q–1.
12 In approving the proposed rule change, the
rule change of a self-regulatory 8 17 CFR 240.17Ad–22(b)(2–3).
Commission considered the proposal’s impact on
organization if the Commission finds 9 17 CFR 240.17Ad–22(d)(9).
efficiency, competition and capital formation. 15
10 15 U.S.C. 78q–1. U.S.C. 78c(f).
5 15 U.S.C. 78s(b)(2)(C). 11 15 U.S.C. 78s(b)(2). 13 17 CFR 200.30–3(a)(12).

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Document Created: 2018-02-14 08:24:03
Document Modified: 2018-02-14 08:24:03

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 78678