Form 3 30 Day Federal Register Notice

Federal Register / Vol. 89, No. 124 / Thursday, June 27, 2024 / Notices
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov.
Dated: June 21, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–14081 Filed 6–26–24; 8:45 am]
BILLING CODE 8011–01–P

information collection should be sent
within 30 days of publication of this
notice by July 29, 2024 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov.
Dated: June 21, 2024.
Vanessa A. Countryman,
Secretary.

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–125, OMB Control No.
3235–0104]

[FR Doc. 2024–14078 Filed 6–26–24; 8:45 am]
BILLING CODE 8011–01–P

lotter on DSK11XQN23PROD with NOTICES1

Submission for OMB Review;
Comment Request; Extension: Form
3—Initial Statement of Beneficial
Ownership of Securities

SECURITIES AND EXCHANGE
COMMISSION

Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Under Section 16(a) of the Securities
Exchange Act of 1934 (‘‘Exchange Act’’)
(15 U.S.C. 78a et seq.), every person
who owns more than ten percent of any
class of equity security (other than an
exempted security) which is requested
under Section 12 of the Exchange Act,
or who is a director or an officer of the
issuer of such security (collectively
‘‘reporting persons’’) are required to file
statements disclosing their ownership of
the issuer’s equity securities. Form 3
must be filed within ten days after the
event by which the person becomes a
reporting person. Approximately 16,520
insiders file Form 3 annually and it
takes approximately 0.50 hours to
prepare for a total of 8,260 annual
burden hours (0.50 hours per response
× 16,520 responses).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed

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[Release No. 34–100394; File No. SR–LCH
SA–2024–002]

Self-Regulatory Organizations; LCH
SA; Order Instituting Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
Relating to the CDS Select
Membership Model
June 21, 2024.

I. Introduction
On March 13, 2024, Banque Centrale
de Compensation, which conducts
business under the name LCH SA (‘‘LCH
SA’’), filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change SR–LCH SA–
2024–002 (‘‘Proposed Rule Change’’)
pursuant to section 19(b) of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) 1 and Rule 19b–4 2
thereunder to amend its CDS Clearing
Rule Book (the ‘‘Rule Book’’) and CDS
Clearing Procedures (‘‘Procedures’’) to
incorporate new terms and to make
conforming, clarifying and clean-up
changes to implement a new model of
CDSClear select membership. The
Proposed Rule Change was published
for public comment in the Federal
Register on March 28, 2024.3 The
Commission has received no comments
regarding the Proposed Rule Change.
On May 9, 2024, pursuant to section
19(b)(2) of the Exchange Act,4 the
Commission designated a longer period
within which to approve, disapprove, or
institute proceedings to determine
whether to approve or disapprove the
Proposed Rule Change, until June 26,
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Exchange Act Release No. 99847 (Mar. 22,
2024), 89 FR 21579 (Mar. 28, 2024) (File No. SR–
LCH SA–2024–002) (‘‘Notice’’).
4 15 U.S.C. 78s(b)(2).
2 17

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2024.5 The Commission is instituting
proceedings, pursuant to section
19(b)(2)(B) of the Exchange Act,6 to
determine whether to approve or
disapprove the Proposed Rule Change.
II. Summary of the Proposed Rule
Change
LCH SA is a clearing agency
registered with the Commission.7
Through its CDSClear business unit,
LCH SA provides central counterparty
services for security-based swaps,
including credit default swaps, and
options on credit default swaps.8 LCH
SA provides these central counterparty
services to its Clearing Members. Some
of these Clearing Members provide
clearing services for clients.
LCH SA has two types of Clearing
Members, General Members and Select
Members. General Members may
provide client clearing services to
affiliates and non-affiliates, must
participate in Competitive Bidding for
auction packages, and must submit
prices to LCH SA.9 On the other hand,
Select Members may only provide client
clearing services to their affiliates, must
participate in competitive bidding only
for a subset of auction packages, and
may choose whether to submit prices.10
Select Members and General Members
must nominate representatives for the
CDS Default Management Committee
and CDS Default Management Group.11
The Proposed Rule Change would
alter LCH SA’s select membership. It
would allow Select Members to provide
client clearing services to non-affiliated
firms and choose whether to participate
in Competitive Bidding. LCH SA also
proposes to allow Select Members to
choose whether to nominate
representatives for both the CDS Default
Management Committee and CDS
Default Management Group. Although
LCH SA proposes changes related to
Select Members’ submission of end-ofday prices, as currently, the Proposed
Rule Change would still allow Select
Members to choose whether to submit
prices. LCH SA also proposes a new
form through which Select Members
may make certain elections.
5 Exchange Act Release No. 100094 (May 9, 2024),
89 FR 42515 (May 15, 2024) (File No. SR–LCH SA–
2024–002).
6 15 U.S.C. 78s(b)(2)(B).
7 Capitalized terms used but not defined herein
have the meanings specified in the LCH SA Rule
Book or Framework as applicable.
8 What We Clear, https://www.lch.com/services/
cdsclear/what-we-clear (last visited Apr. 30, 2024).
9 Notice, 89 FR at 21579.
10 Id. at 21579, 81.
11 Id. at 21581.

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