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Federal Register / Vol. 86, No. 38 / Monday, March 1, 2021 / Notices
in-the-game the Minimum Corporation Contribution, LNAFBE greater than 110% of the Target Capital Requirement, and the EDCP Unvested Balance and their places within OCCs default waterfall. The proposed amendments to the Capital Management Policy would also identify factors the Board would consider in setting and adjusting the Minimum Corporate Contribution. Accordingly, OCC
believes conforming the terms in these governance arrangements and identifying factors OCC would consider in adjusting the Minimum Corporate Contribution is consistent with Rule 17Ad22e2i.
Finally, OCC believe that the proposed changes are consistent with Rule 17Ad22e23, which requires covered clearing agencies to maintain written policies and procedures reasonably designed to, among other things, provide for publicly disclosing all relevant rules and material procedures, including key aspects of its default rules and procedures.46 The proposed changes would amend OCCs Rules to remove the pre-Capital Management Policy references to use of retained earnings or current and retained earnings with respect to the sources of OCCs skin-in-the-game, and instead identify the Minimum Corporate Contribution and LNAFBE greater than 110% of the Target Capital Requirement. The proposed changes would also provide greater clarity about how OCC calculates the amount of LNAFBE greater than 110% of the Target Capital Requirement based upon the unaudited financial statements from the close of the prior month; provided, however, that OCC would not be required to contribute an amount that would cause its LNAFBE to fall below 110% of the Target Capital Requirement at the time charged. The proposed changes to OCC Rules would, in turn, be made available on OCCs website.
Therefore, OCC believes the proposed changes would disclose relevant default rules and procedures to the public and to Clearing Members.
For the foregoing reasons, OCC
believes that the proposed changes are consistent with Section 805b of the Clearing Supervision Act 47 and Rules 17Ad22e4, 48 17Ad22e15
iiA,49 17Ad22e15iii,50 Rules 46 17

CFR 240.17Ad22e23.
47 12 U.S.C. 5464b.
48 17 CFR 240.17Ad22e4.
49 17 CFR 240.17Ad22e15ii.
50 17 CFR 240.17Ad22e15iii.

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17Ad22e2i,51 and 17Ad 22e23 52 under the Exchange Act.
III. Date of Effectiveness of the Advance Notice and Timing for Commission Action The proposed change may be implemented if the Commission does not object to the proposed change within 60 days of the later of i the date the proposed change was filed with the Commission or ii the date any additional information requested by the Commission is received. OCC shall not implement the proposed change if the Commission has any objection to the proposed change.
The Commission may extend the period for review by an additional 60
days if the proposed change raises novel or complex issues, subject to the Commission providing the clearing agency with prompt written notice of the extension. A proposed change may be implemented in less than 60 days from the date the advance notice is filed, or the date further information requested by the Commission is received, if the Commission notifies the clearing agency in writing that it does not object to the proposed change and authorizes the clearing agency to implement the proposed change on an earlier date, subject to any conditions imposed by the Commission.
OCC shall post notice on its website of proposed changes that are implemented. The proposal shall not take effect until all regulatory actions required with respect to the proposal are completed.
IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the advance notice is consistent with the Clearing Supervision Act. Comments may be submitted by any of the following methods:
Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
OCC2021801 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549.
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All submissions should refer to File Number SROCC2021801. 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 Commissions internet website http www.sec.gov/
rules/sro.shtml. Copies of the submission, all subsequent amendments, all written statements with respect to the advance notice that are filed with the Commission, and all written communications relating to the advance notice 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 Commissions 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 the filing also will be available for inspection and copying at the principal office of the self-regulatory organization.
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 SROCC2021801 and should be submitted on or before March 16, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.53
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202104087 Filed 22621; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3491192

Order Granting Application by MIAX
PEARL, LLC for an Exemption Pursuant to Section 36a of the Exchange Act From the Rule Filing Requirements of Section 19b of the Exchange Act With Respect to Certain Rules Incorporated by Reference February 23, 2021.

MIAX PEARL, LLC MIAX PEARL
or Exchange has filed with the Securities and Exchange Commission 53 17

E:FRFM01MRN1.SGM

CFR 200.303a91.

01MRN1