83 FR 4527 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Concerning Updates to and Formalization of OCC's Recovery and Orderly Wind-Down Plan

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 21 (January 31, 2018)

Page Range		4527-4527
FR Document		2018-01817

Federal Register, Volume 83 Issue 21 (Wednesday, January 31, 2018)

[Federal Register Volume 83, Number 21 (Wednesday, January 31, 2018)]
[Notices]
[Page 4527]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01817]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82586; File No. SR-OCC-2017-021]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change Concerning Updates to and Formalization of OCC's 
Recovery and Orderly Wind-Down Plan

January 25, 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 updates to and 
formalization of OCC's recovery and orderly wind-down plan.\3\ The 
Proposed Rule Change was published for comment in the Federal Register 
on December 26, 2017.\4\ To date, the Commission has not received any 
comment letters to the Proposed Rule Change.
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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 this proposal as an 
advance notice SR-OCC-2017-810 (``Advance Notice'') 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 (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)). Notice of filing of the Advance Notice was published 
for comment in the Federal Register on January 23, 2018. Securities 
Exchange Act Release No. 34-82514 (Jan. 17, 2018), 83 FR 3224 (Jan. 
23, 2018) (SR-OCC-2017-810).
     On January 22, 2018, the Commission sent OCC a request for 
additional information, which tolls the Commission's 60-day review 
period for the Advance Notice. See Memorandum from Office of 
Clearance and Settlement, Division of Trading and Markets, dated 
January 23, 2018, available at https://www.sec.gov/comments/sr-occ-2017-810/occ2017810.htm. The new review period will be 60 days from 
the date the Commission receives the information requested. See 
Section 806(e)(1). The proposal in the Proposed Rule Change and the 
Advance Notice shall not take effect until all regulatory actions 
required with respect to the proposal are completed.
    \4\ Securities Exchange Act Release No. 34-82532 (Dec. 19, 
2017), 82 FR 61072 (Dec. 26, 2017) (SR-OCC-2017-021).
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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 this Proposed Rule Change 
is February 9, 2018. The Commission is extending this 45-day time 
period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    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, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates March 26, 2018 as the date by which the Commission 
shall either approve, disapprove, or institute proceedings to determine 
whether to disapprove proposed rule change SR-OCC-2017-021.
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Eduardo A. Aleman,
Assistant Secretary.
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    \7\ 17 CFR 200.30-3(a)(31).
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[FR Doc. 2018-01817 Filed 1-30-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 21 / Wednesday, January 31, 2018 / Notices 4527

Rule 19b–4 thereunder,2 concerning Accordingly, the Commission, The Proposed Rule Change was
enhanced and new tools for recovery pursuant to Section 19(b)(2) of the Act,7 published for comment in the Federal
scenarios.3 The Proposed Rule Change designates March 26, 2018 as the date Register on December 26, 2017.4 To
was published for comment in the by which the Commission shall either date, the Commission has not received
Federal Register on December 26, approve, disapprove, or institute any comment letters to the Proposed
2017.4 To date, the Commission has proceedings to determine whether to Rule Change.
received one comment letter to the disapprove proposed rule change SR–
OCC–2017–020. Section 19(b)(2) of the Act 5 provides
Proposed Rule Change.5
Section 19(b)(2) of the Act 6 provides that, within 45 days of the publication
For the Commission, by the Division of of notice of the filing of a proposed rule
that, within 45 days of the publication Trading and Markets, pursuant to delegated
of notice of the filing of a proposed rule authority.8 change, or within such longer period up
change, or within such longer period up Eduardo A. Aleman, to 90 days as the Commission may
to 90 days as the Commission may Assistant Secretary.
designate if it finds such longer period
designate if it finds such longer period to be appropriate and publishes its
[FR Doc. 2018–01816 Filed 1–30–18; 8:45 am]
to be appropriate and publishes its reasons for so finding, or as to which the
BILLING CODE 8011–01–P
reasons for so finding, or as to which the self-regulatory organization consents,
self-regulatory organization consents, the Commission shall either approve the
the Commission shall either approve the SECURITIES AND EXCHANGE proposed rule change, disapprove the
proposed rule change, disapprove the COMMISSION proposed rule change, or institute
proposed rule change, or institute proceedings to determine whether the
[Release No. 34–82586; File No. SR–OCC–
proceedings to determine whether the 2017–021] proposed rule change should be
proposed rule change should be disapproved. The 45th day after
disapproved. The 45th day after Self-Regulatory Organizations; The publication of the notice for this
publication of the notice for this Options Clearing Corporation; Notice Proposed Rule Change is February 9,
Proposed Rule Change is February 9, of Designation of Longer Period for 2018. The Commission is extending this
2018. The Commission is extending this Commission Action on Proposed Rule 45-day time period.
45-day time period. Change Concerning Updates to and
In order to provide the Commission In order to provide the Commission
Formalization of OCC’s Recovery and with sufficient time to consider the
with sufficient time to consider the Orderly Wind-Down Plan
Proposed Rule Change, the Commission Proposed Rule Change, the Commission
finds that it is appropriate to designate January 25, 2018. finds that it is appropriate to designate
a longer period within which to take On December 8, 2017, The Options a longer period within which to take
action on the Proposed Rule Change. Clearing Corporation (‘‘OCC’’) filed with action on the Proposed Rule Change.
the Securities and Exchange Accordingly, the Commission,
2 17 CFR 240.19b–4. Commission (‘‘Commission’’) proposed pursuant to Section 19(b)(2) of the Act,6
3 On December 8, 2017, OCC also filed this rule change SR–OCC–2017–021 designates March 26, 2018 as the date
proposal as an advance notice SR–OCC–2017–809 (‘‘Proposed Rule Change’’) pursuant to
(‘‘Advance Notice’’) with the Commission pursuant by which the Commission shall either
Section 19(b)(1) of the Securities
to Section 806(e)(1) of Title VIII of the Dodd-Frank approve, disapprove, or institute
Wall Street Reform and Consumer Protection Act, Exchange Act of 1934 (‘‘Act’’),1 and
proceedings to determine whether to
entitled the Payment, Clearing, and Settlement Rule 19b–4 thereunder,2 concerning
Supervision Act of 2010 (12 U.S.C. 5465(e)(1)) and updates to and formalization of OCC’s disapprove proposed rule change SR–
Rule 19b–4(n)(1)(i) of the Act (17 CFR 240.19b–
recovery and orderly wind-down plan.3 OCC–2017–021.
4(n)(1)(i)). Notice of filing of the Advance Notice
was published for comment in the Federal Register For the Commission, by the Division of
on January 23, 2018. Securities Exchange Act 7 Id. Trading and Markets, pursuant to delegated
Release No. 34–82513 (Jan. 17, 2018), 83 FR 3244 8 17 CFR 200.30–3(a)(31). authority.7
(Jan. 23, 2018) (SR–OCC–2017–809). 1 15 U.S.C. 78s(b)(1).
Eduardo A. Aleman,
On January 22, 2018, the Commission sent OCC 2 17 CFR 240.19b–4.
a request for additional information, which tolls the 3 On December 8, 2017, OCC also filed this Assistant Secretary.
Commission’s 60-day review period for the proposal as an advance notice SR–OCC–2017–810 [FR Doc. 2018–01817 Filed 1–30–18; 8:45 am]
Advance Notice. See Memorandum from Office of (‘‘Advance Notice’’) with the Commission pursuant
Clearance and Settlement, Division of Trading and BILLING CODE 8011–01–P
to Section 806(e)(1) of Title VIII of the Dodd-Frank
Markets, dated January 23, 2018, available at Wall Street Reform and Consumer Protection Act,
https://www.sec.gov/comments/sr-occ-2017-809/ entitled the Payment, Clearing, and Settlement
occ2017809.htm. The new review period will be 60 Supervision Act of 2010 (12 U.S.C. 5465(e)(1)) and
days from the date the Commission receives the Rule 19b–4(n)(1)(i) of the Act (17 CFR 240.19b–
information requested. See Section 806(e)(1). The 4(n)(1)(i)). Notice of filing of the Advance Notice
proposal in the Proposed Rule Change and the was published for comment in the Federal Register
Advance Notice shall not take effect until all on January 23, 2018. Securities Exchange Act
regulatory actions required with respect to the Release No. 34–82514 (Jan. 17, 2018), 83 FR 3224
proposal are completed. (Jan. 23, 2018) (SR–OCC–2017–810).
4 Securities Exchange Act Release No. 34–82531
On January 22, 2018, the Commission sent OCC
(Dec. 19, 2017), 82 FR 61107 (Dec. 26, 2017) (SR– a request for additional information, which tolls the
OCC–2017–020). Commission’s 60-day review period for the
5 See Letter from Jacqueline H. Mesa, Senior Vice
Advance Notice. See Memorandum from Office of
President of Global Policy, FIA, dated Jan. 16, 2018, Clearance and Settlement, Division of Trading and
sradovich on DSK3GMQ082PROD with NOTICES

available at https://www.sec.gov/comments/sr-occ- Markets, dated January 23, 2018, available at
2017-020/occ2017020.htm. Since the proposal https://www.sec.gov/comments/sr-occ-2017-810/
contained in the Proposed Rule Change was also occ2017810.htm. The new review period will be 60 4 Securities Exchange Act Release No. 34–82532
filed as an Advance Notice, the Commission is days from the date the Commission receives the (Dec. 19, 2017), 82 FR 61072 (Dec. 26, 2017) (SR–
considering all public comments received on the information requested. See Section 806(e)(1). The OCC–2017–021).
proposal regardless of whether the comments are proposal in the Proposed Rule Change and the 5 15 U.S.C. 78s(b)(2).
submitted to the Proposed Rule Change or the Advance Notice shall not take effect until all
6 Id.
Advance Notice. regulatory actions required with respect to the
6 15 U.S.C. 78s(b)(2). proposal are completed. 7 17 CFR 200.30–3(a)(31).

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Document Created: 2018-01-31 00:58:24
Document Modified: 2018-01-31 00:58:24

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 4527