83 FR 29843 - Self-Regulatory Organizations; Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Concerning Updates to and Formalization of OCC's Recovery and Orderly Wind-Down Plan

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 123 (June 26, 2018)

Page Range		29843-29844
FR Document		2018-13638
Federal Register, Volume 83 Issue 123 (Tuesday, June 26, 2018)
[Federal Register Volume 83, Number 123 (Tuesday, June 26, 2018)]
[Notices]
[Pages 29843-29844]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-13638]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83485; File No. SR-OCC-2017-021]


Self-Regulatory Organizations; Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Concerning Updates to and Formalization of OCC's Recovery and 
Orderly Wind-Down Plan

June 20, 2018.
    On December 8, 2017, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-OCC-2017-021 (``Proposed Rule Change'') 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ concerning enhanced and new 
tools for recovery scenarios.\3\ The Proposed Rule Change was published 
for comment in the Federal Register on December 26, 2017.\4\ To date, 
the Commission has received one comment letter to the Proposed Rule 
Change.\5\ On March 22, 2018, the Commission instituted proceedings 
under Section 19(b)(2)(B)(i) of the Act \6\ to determine whether to 
approve or disapprove the Proposed Rule Change.\7\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On December 8, 2017, OCC also filed a related advance notice 
(SR-OCC-2017-810) with the Commission 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 and Rule 19b-4(n)(1)(i) under the Act 
(``Advance Notice''). 12 U.S.C. 5465(e)(1) and 17 CFR 240.19b-
4(n)(1)(i), respectively. The Advance Notice was published in the 
Federal Register on January 23, 2018. Securities Exchange Act 
Release No. 82513 (Jan. 17, 2018), 83 FR 3224 (Jan. 23, 2018) (SR-
OCC-2017-810).
    \4\ Securities Exchange Act Release No. 82352 (Dec. 19, 2017), 
82 FR 61072 (Dec. 26, 2017) (SR-OCC-2017-021) (``Notice'').
    \5\ See Letter from Jacqueline H. Mesa, Senior Vice President of 
Global Policy, FIA, dated Jan. 16, 2018, available at https://www.sec.gov/comments/sr-occ-2017-020/occ2017020.htm. Since the 
proposal contained in the Proposed Rule Change was also filed as an 
Advance Notice, 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.
    \6\ 15 U.S.C. 78s(b)(2)(B)(i).
    \7\ See Securities Exchange Act Release No. 82927 (March 22, 
2018), 83 FR 13176 (March 27, 2018) (SR-OCC-2018-021).
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    Section 19(b)(2)(B)(ii) of the Act provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the

[[Page 29844]]

proposed rule change not later than 180 days after the date of 
publication of notice of filing of the proposed rule change.\8\ The 
Commission may, however, extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination.\9\
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    \8\ 15 U.S.C. 78s(b)(2)(B)(ii).
    \9\ Id.
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    The 180th day after publication of the notice for the Proposed Rule 
Change in the Federal Register is June 24, 2018. The Commission finds 
it appropriate to designate a longer period within which to issue an 
order approving or disapproving the Proposed Rule Change so that it has 
sufficient time to consider the Proposed Rule Change and the comment 
received. Accordingly, the Commission, pursuant to Section 
19(b)(2)(B)(ii) of the Act,\10\ designates August 23, 2018 as the date 
by which the Commission shall either approve or disapprove the Proposed 
Rule Change.
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    \10\ Id.
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    The Commission also seeks additional comment to help further inform 
its analysis of the Proposed Rule Change. 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 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-OCC-2017-021 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-OCC-2017-021. 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 such filing also will be available for inspection 
and copying at the principal office of OCC and on OCC's website at 
https://www.theocc.com/about/publications/bylaws.jsp.
    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-OCC-2017-021 and 
should be submitted on or before July 11, 2018. Any person who wishes 
to file a rebuttal to any other person's submission must file that 
rebuttal on or before July 17, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-13638 Filed 6-25-18; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices 29843

19(b)(3)(A) of the Act 7 and Rule 19b– Electronic Comments SECURITIES AND EXCHANGE
4(f)(6) thereunder.8 COMMISSION
• Use the Commission’s internet
A proposed rule change filed comment form (http://www.sec.gov/ [Release No. 34–83485; File No. SR–OCC–
pursuant to Rule 19b–4(f)(6) under the rules/sro.shtml); or 2017–021]
Act 9 normally does not become
operative for 30 days after the date of its • Send an email to rule-comments@ Self-Regulatory Organizations;
filing. However, Rule 19b–4(f)(6)(iii) 10 sec.gov. Please include File Number SR– Options Clearing Corporation; Notice
permits the Commission to designate a ISE–2018–54 on the subject line. of Designation of Longer Period for
shorter time if such action is consistent Commission Action on Proceedings To
Paper Comments
with the protection of investors and the Determine Whether To Approve or
public interest. The Exchange has • Send paper comments in triplicate Disapprove a Proposed Rule
requested that the Commission waive to Secretary, Securities and Exchange Concerning Updates to and
the 30-day operative delay so that the Commission, 100 F Street NE, Formalization of OCC’s Recovery and
proposed rule change may become Washington, DC 20549–1090. Orderly Wind-Down Plan
operative upon filing. The proposed rule June 20, 2018.
change merely relocates the co-location All submissions should refer to File
Number SR–ISE–2018–54. This file On December 8, 2017, The Options
and direct connectivity rules in the Clearing Corporation (‘‘OCC’’) filed with
Exchange’s Schedule of Fees, as well as number should be included on the
subject line if email is used. To help the the Securities and Exchange
corrects a technical error.11 Commission (‘‘Commission’’) proposed
Accordingly, the Commission believes Commission process and review your
rule change SR–OCC–2017–021
that waiver of the 30-day operative comments more efficiently, please use
(‘‘Proposed Rule Change’’) pursuant to
delay is consistent with the protection only one method. The Commission will
Section 19(b)(1) of the Securities
of investors and the public interest and post all comments on the Commission’s
Exchange Act of 1934 (‘‘Act’’),1 and
hereby waives the operative delay and internet website (http://www.sec.gov/ Rule 19b-4 thereunder,2 concerning
designates the proposed rule change rules/sro.shtml). Copies of the enhanced and new tools for recovery
operative upon filing.12 submission, all subsequent scenarios.3 The Proposed Rule Change
At any time within 60 days of the amendments, all written statements was published for comment in the
filing of the proposed rule change, the with respect to the proposed rule Federal Register on December 26,
Commission summarily may change that are filed with the 2017.4 To date, the Commission has
temporarily suspend such rule change if Commission, and all written received one comment letter to the
it appears to the Commission that such communications relating to the Proposed Rule Change.5 On March 22,
action is necessary or appropriate in the proposed rule change between the 2018, the Commission instituted
public interest, for the protection of Commission and any person, other than proceedings under Section 19(b)(2)(B)(i)
investors, or otherwise in furtherance of those that may be withheld from the of the Act 6 to determine whether to
the purposes of the Act. If the public in accordance with the approve or disapprove the Proposed
Commission takes such action, the provisions of 5 U.S.C. 552, will be Rule Change.7
Commission shall institute proceedings available for website viewing and Section 19(b)(2)(B)(ii) of the Act
to determine whether the proposed rule printing in the Commission’s Public provides that, after initiating
change should be approved or Reference Room, 100 F Street NE, proceedings, the Commission shall issue
disapproved. Washington, DC 20549 on official an order approving or disapproving the
business days between the hours of
IV. Solicitation of Comments 1 15 U.S.C. 78s(b)(1).
10:00 a.m. and 3:00 p.m. Copies of the 2 17 CFR 240.19b–4.
Interested persons are invited to filing also will be available for 3 On December 8, 2017, OCC also filed a related

submit written data, views, and inspection and copying at the principal advance notice (SR–OCC–2017–810) with the
arguments concerning the foregoing, office of the Exchange. All comments Commission pursuant to Section 806(e)(1) of Title
VIII of the Dodd-Frank Wall Street Reform and
including whether the proposed rule received will be posted without change. Consumer Protection Act, entitled the Payment,
change is consistent with the Act. Persons submitting comments are Clearing, and Settlement Supervision Act of 2010
Comments may be submitted by any of cautioned that we do not redact or edit and Rule 19b–4(n)(1)(i) under the Act (‘‘Advance
the following methods: personal identifying information from Notice’’). 12 U.S.C. 5465(e)(1) and 17 CFR 240.19b–
4(n)(1)(i), respectively. The Advance Notice was
comment submissions. You should published in the Federal Register on January 23,
7 15 U.S.C. 78s(b)(3)(A). submit only information that you wish 2018. Securities Exchange Act Release No. 82513
8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– (Jan. 17, 2018), 83 FR 3224 (Jan. 23, 2018) (SR–
to make available publicly. All
4(f)(6)(iii) requires a self-regulatory organization to OCC–2017–810).
give the Commission written notice of its intent to
submissions should refer to File 4 Securities Exchange Act Release No. 82352 (Dec.
file the proposed rule change, along with a brief Number SR–ISE–2018–54, and should 19, 2017), 82 FR 61072 (Dec. 26, 2017) (SR–OCC–
description and text of the proposed rule change, be submitted on or before July 17, 2018. 2017–021) (‘‘Notice’’).
at least five business days prior to the date of filing 5 See Letter from Jacqueline H. Mesa, Senior Vice
of the proposed rule change, or such shorter time For the Commission, by the Division of President of Global Policy, FIA, dated Jan. 16, 2018,
as designated by the Commission. The Exchange Trading and Markets, pursuant to delegated available at https://www.sec.gov/comments/sr-occ-
has satisfied this requirement. authority.13 2017-020/occ2017020.htm. Since the proposal
9 17 CFR 240.19b–4(f)(6).
contained in the Proposed Rule Change was also
sradovich on DSK3GMQ082PROD with NOTICES

10 17 CFR 240.19b–4(f)(6)(iii). Eduardo A. Aleman, filed as an Advance Notice, the Commission is
11 Specifically, with respect to Point of Presence Assistant Secretary. considering all public comments received on the
(POP) Connectivity, the Exchange corrects an [FR Doc. 2018–13616 Filed 6–25–18; 8:45 am] proposal regardless of whether the comments are
incorrect reference to GEMX in the rule text to ISE. submitted to the Proposed Rule Change or the
12 For purposes only of waiving the 30-day BILLING CODE 8011–01–P Advance Notice.
6 15 U.S.C. 78s(b)(2)(B)(i).
operative delay, the Commission also has
considered the proposed rule’s impact on 7 See Securities Exchange Act Release No. 82927

efficiency, competition, and capital formation. See (March 22, 2018), 83 FR 13176 (March 27, 2018)
15 U.S.C. 78c(f). 13 17 CFR 200.30–3(a)(12). (SR–OCC–2018–021).

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29844 Federal Register / Vol. 83, No. 123 / Tuesday, June 26, 2018 / Notices

proposed rule change not later than 180 Commission process and review your Rule 19b-4 thereunder,2 notice is hereby
days after the date of publication of comments more efficiently, please use given that on June 7, 2018, Cboe
notice of filing of the proposed rule only one method. The Commission will Exchange, Inc. (‘‘Exchange’’ or ‘‘Cboe
change.8 The Commission may, post all comments on the Commission’s Options’’) filed with the Securities and
however, extend the period for issuing internet website (http://www.sec.gov/ Exchange Commission (‘‘Commission’’)
an order approving or disapproving the rules/sro.shtml). Copies of the the proposed rule change as described
proposed rule change by not more than submission, all subsequent in Items I and II below, which Items
60 days if the Commission determines amendments, all written statements have been prepared by the Exchange.
that a longer period is appropriate and with respect to the Proposed Rule The Commission is publishing this
publishes the reasons for such Change that are filed with the notice to solicit comments on the
determination.9 Commission, and all written proposed rule change from interested
The 180th day after publication of the communications relating to the persons.
notice for the Proposed Rule Change in Proposed Rule Change between the
I. Self-Regulatory Organization’s
the Federal Register is June 24, 2018. Commission and any person, other than
Statement of the Terms of Substance of
The Commission finds it appropriate to those that may be withheld from the
the Proposed Rule Change
designate a longer period within which public in accordance with the
to issue an order approving or provisions of 5 U.S.C. 552, will be The Exchange proposes to amend
disapproving the Proposed Rule Change available for website viewing and Rule 24.21 relating to Crowd Space
so that it has sufficient time to consider printing in the Commission’s Public Disputes. The text of the proposed rule
the Proposed Rule Change and the Reference Room, 100 F Street NE, change is also available on the
comment received. Accordingly, the Washington, DC 20549, on official Exchange’s website (http://
Commission, pursuant to Section business days between the hours of www.cboe.com/AboutCBOE/CBOELegal
19(b)(2)(B)(ii) of the Act,10 designates 10:00 a.m. and 3:00 p.m. Copies of such RegulatoryHome.aspx), at the
August 23, 2018 as the date by which filing also will be available for Exchange’s Office of the Secretary, and
the Commission shall either approve or inspection and copying at the principal at the Commission’s Public Reference
disapprove the Proposed Rule Change. office of OCC and on OCC’s website at Room.
The Commission also seeks additional https://www.theocc.com/about/ II. Self-Regulatory Organization’s
comment to help further inform its publications/bylaws.jsp. Statement of the Purpose of, and
analysis of the Proposed Rule Change. All comments received will be posted Statutory Basis for, the Proposed Rule
Specifically, the Commission invites without change. Persons submitting Change
interested persons to provide views, comments are cautioned that we do not
redact or edit personal identifying In its filing with the Commission, the
data, and arguments concerning the
information from comment submissions. Exchange included statements
Proposed Rule Change, including
You should submit only information concerning the purpose of and basis for
whether the Proposed Rule Change is
that you wish to make available the proposed rule change and discussed
consistent with the Act and the
publicly. any comments it received on the
applicable rules or regulations
All submissions should refer to File proposed rule change. The text of these
thereunder. Please note that comments
Number SR–OCC–2017–021 and should statements may be examined at the
previously received on the substance of places specified in Item IV below. The
the Proposed Rule Change will be be submitted on or before July 11, 2018.
Any person who wishes to file a rebuttal Exchange has prepared summaries, set
considered together with comments forth in sections A, B, and C below, of
submitted in response to this notice. to any other person’s submission must
file that rebuttal on or before July 17, the most significant aspects of such
Therefore, while commenters are free to statements.
submit additional comments at this 2018.
time, they need not re-submit earlier For the Commission, by the Division of A.Self-Regulatory Organization’s
comments. Trading and Markets, pursuant to delegated Statement of the Purpose of, and
Comments may be submitted by any authority.11 Statutory Basis for, the Proposed Rule
of the following methods: Eduardo A. Aleman, Change
Assistant Secretary.
Electronic Comments 1. Purpose
[FR Doc. 2018–13638 Filed 6–25–18; 8:45 am]
• Use the Commission’s internet BILLING CODE 8011–01–P
The purpose of this rule change is to
comment form (http://www.sec.gov/ amend Rule 24.21 (Index Crowd Space
rules/sro.shtml); or Dispute Resolution Procedures). By way
• Send an email to rule-comments@ SECURITIES AND EXCHANGE of background, Rule 24.21 provides for
sec.gov. Please include File Number SR– COMMISSION guidelines and procedures to resolve
OCC–2017–021 on the subject line. disputes concerning the right of Trading
[Release No. 34–83486; File No. SR–CBOE– Permit Holders (‘‘TPHs’’) to occupy a
Paper Comments 2018–043]
certain space in certain index option
• Send paper comments in triplicate Self-Regulatory Organizations; Cboe trading pits.
to Secretary, Securities and Exchange Exchange, Inc.; Notice of Filing and Particularly, the Exchange proposes to
Commission, 100 F Street NE, Immediate Effectiveness of a Proposed amend subparagraphs (b) and (g) of Rule
Washington, DC 20549–1090. Rule Change To Amend Its Rule 24.21, which provisions relate to the
sradovich on DSK3GMQ082PROD with NOTICES

All submissions should refer to File Governing Crowd Space Disputes Space Mediator and the Crowd Space
Number SR–OCC–2017–021. This file Dispute Resolution (‘‘CSDR’’) panel,
number should be included on the June 20, 2018. respectively. Currently, the rule
subject line if email is used. To help the Pursuant to Section 19(b)(1) of the provides that the Space Mediator 3 will
Securities Exchange Act of 1934,1 and select a CSDR Panel (‘‘Panel’’)
8 15 U.S.C. 78s(b)(2)(B)(ii).
9 Id. 11 17 CFR 200.30–3(a)(57). 2 17 CFR 240.19b-4.
10 Id. 1 15 U.S.C. 78s(b)(1). 3 As defined in Cboe Options Rule 24.21(b).

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Document Created: 2018-06-26 00:51:50
Document Modified: 2018-06-26 00:51:50
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		83 FR 29843