June 13, 2014.
On December 5, 2013, The Depository Trust Company (“DTC”) filed with the Securities and Exchange Commission (“Commission”) proposed rule change SR-DTC-2013-11 (“Proposed Rules”) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”) 
and Rule 19b-4 thereunder.
The Proposed Rules were published in the Federal Register on December 24, 2013.
The Commission received ten comments from eight commenters to the Proposed Rules 
and two letters from DTC responding to those comments.
On February 10, 2014, Start Printed Page 35194DTC filed Amendment No. 1 to the Proposed Rules.
On March 10, 2014, DTC Filed Amendment No 2 to the Proposed Rules.
On March 19, 2014, the Commission published Amendment Nos. 1 and 2 for comment and instituted proceedings to determine whether to approve or disapprove the Proposed Rules, as modified by Amendment Nos. 1 and 2 (“Order Instituting Proceedings”).
During the course of these proceedings, the Commission received six additional comment letters from five commenters 
and two letters in response from DTC.
Section 19(b)(2) of the Exchange Act 
provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The Proposed Rules were published for notice and comment in the Federal Register on December 24, 2013; June 22, 2014 is 180 days from that date, and August 21, 2014 is 240 days from that date.
The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the Proposed Rules so that it has sufficient time to consider the amended proposal, the issues raised in the comment letters, including comment letters submitted in response to the Order Instituting Proceedings, and DTC's responses to such comments.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Exchange Act,
designates August 21, 2014, as the date by which the Commission should either approve or disapprove the Proposed Rules (SR-DTC-2013-11).
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.
Kevin M. O'Neill,
[FR Doc. 2014-14319 Filed 6-18-14; 8:45 am]
BILLING CODE 8011-01-P