Je veux savoir à propos de…

45788

Federal Register / Vol. 86, No. 155 / Monday, August 16, 2021 / Notices
and the oversight of activities and branches outside of Switzerland, including within the United States.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.128

lotter on DSK11XQN23PROD with NOTICES1

J. Matthew DeLesDernier, Assistant Secretary.

Attachment A
It is hereby determined and ordered, pursuant to rule 3a716 under the Exchange Act, that a Covered Entity as defined in paragraph e1 of this Order may satisfy the requirements under the Exchange Act that are addressed in paragraphs b through d of this Order so long as the Covered Entity is subject to and complies with relevant requirements of the Swiss Confederation and with the conditions to this Order, as amended or superseded from time to time.
a General conditions.
This Order is subject to the following general conditions, in addition to the conditions specified in paragraphs b through d:
1 Security-based swaps and transactions as derivatives or derivative transactions. For each condition in paragraphs b through d of this Order that requires the application of, and the Covered Entitys compliance with, provisions of FinMIA
and FMIO, the relevant security-based swaps and security-based swap transactions are derivatives and/or derivative transactions for purposes of FinMIA article 2c, or otherwise are described by the relevant language of that provision.
2 Counterparty status. For each condition in paragraph b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of FinMIA and FMIO, the Covered Entity complies with the applicable conditions of the Order regardless of the Covered Entitys counterparty is a counterparty for purposes of FinMIA article 93, or otherwise is described by the relevant language of that provision.
3 Counterpartys status as company. For each condition in paragraph b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of FMIO, the Covered Entity complies with the applicable conditions of the Order regardless of whether a Covered Entitys counterparty is a company for purposes of FMIO article 77, or otherwise is described by the relevant language of that provision.
128 17

CFR 200.303a89.

VerDate Sep<11>2014

17:21 Aug 13, 2021

Jkt 253001

4 Covered Entity as bank. For each condition in paragraph b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of the BA and BO
and/or other Swiss requirements adopted pursuant to those provisions, the Covered Entity is a bank for purposes of BA article 1a, or otherwise is described by the relevant language of that provision.
5 Covered Entity as systemically important. For each condition in paragraph b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of the FINMA Circular 2017/
1, the Covered Entity is systemically important for purposes of BA article 83 and article 9, or otherwise are described by the relevant language of that provision.
6 Covered Entity as category 1.
For each condition in paragraph b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of FINMA Circular 2017/1, the Covered Entity is supervised as category 1, as defined in BO articles 22 and 23 and BO Annex 3, or otherwise are described by the relevant language of those provisions.
7 Institution-specific approach to operational risk quantification. For each condition in paragraphs b through d of this Order that requires the application of, and the Covered Entitys compliance with, the provisions of FINMA Circular 2008/21 margins 45
107, the Covered Entity applies the institution-specific approach, as defined in CAO article 94, to quantifying capital requirements for operational risk, as approved by FINMA.
8 Memorandum of Understanding with FINMA. The Commission and FINMA have a supervisory and enforcement memorandum of understanding and/or other arrangement addressing cooperation with respect to this Order at the time the Covered Entity complies with the relevant requirements under the Exchange Act via compliance with one or more provisions of this Order.
9 Notice to Commission. A Covered Entity relying on this Order must provide notice of its intent to rely on this Order by notifying the Commission in writing. Such notice must be sent to an email address provided on the Commissions website. The notice must include the contact information of an individual who can provide further information about the matter that is the subject of the notice. The notice must identify each specific substituted compliance determination within
PO 00000

Frm 00087

Fmt 4703

Sfmt 4703

paragraphs b through d of the Order for which the Covered Entity intends to apply substituted compliance. A
Covered Entity must promptly provide an amended notice if it modifies its reliance on the substituted compliance determinations in this Order.
10 Notification Requirements Related to Changes in Capital. A
Covered Entity that is prudentially regulated relying on this Order must apply substituted compliance with respect to the requirements of Exchange Act rule 18a8c and the requirements of Exchange Act rule 18a8h as applied to Exchange Act rule 18a8c.
b Substituted compliance in connection with risk control requirements.
This Order extends to the following provisions related to risk control:
1 Internal risk management. The requirements of Exchange Act section 15Fj2 and relevant aspects of Exchange Act rule 15Fh3h2iiiI, provided that the Covered Entity is subject to and complies with the requirements of: BO article 12; FINMA
Circular 2017/1 margins 914, 3149, 5276, 8297; and FINMA Circular 2008/21 margins 45, 5463, 6568, 117
138.
2 Trade acknowledgement and verification. The requirements of Exchange Act rule 15Fi2, provided that the Covered Entity is subject to and complies with the requirements of FinMIA articles 108a and c; and FMIO articles 95, 97, and 1131.
3 Portfolio reconciliation. The requirements of Exchange Act rule 15Fi3, other than paragraph c to that rule, provided that:
i The Covered Entity is subject to and complies with the requirements of FINMASA article 29; FinMIA article 108b and c; and FMIO articles 96, 97
and 1131d;
ii The Covered Entity does not apply FinMIA article 108bs exception for small non-financial counterparties as defined in FinMIA article 98.
4 Portfolio compression. The requirements of Exchange Act rule 15Fi4, provided that:
i The Covered Entity is subject to and complies with the requirements of FinMIA article 108d; and FMIO
articles 98 and 1131d; and ii The Covered Entity does not apply the portion of FinMIA article 108d that excludes application of the requirement when there are fewer than 500 noncentrally cleared OTC derivatives transactions outstanding.
c Substituted compliance in connection with internal supervision and compliance requirements and
E:FRFM16AUN1.SGM

16AUN1