Federal Register 30-Day Notice

Federal Register / Vol. 90, No. 230 / Wednesday, December 3, 2025 / Notices
identify, monitor, and manage OCC’s
general business risk and hold sufficient
LNAFBE to cover potential general
business losses so that OCC can
continue operations and services as a
going concern if those losses
materialize.22 The Rule also requires
OCC to hold LNAFBE equal to at least
six months of OCC’s current operating
expenses, among other measures.23 As
described above, OCC will be able to
continue to meet its ongoing obligations
and hold the required amount of
LNAFBE following the fee holiday. OCC
estimates that the fee holiday will result
in approximately $59.4 million in
missed revenue. Nonetheless, based on
a wide range of trading volume
projections, OCC expects to remain
above its Target Capital Requirement
and early warning threshold throughout
2026 following the fee holiday.24
(B) Clearing Agency’s Statement on
Burden on Competition
Section 17A(b)(3)(I) of the Act 25
requires that the rules of a clearing
agency not to impose any burden on
competition not necessary or
appropriate in furtherance of the
purposes of the Act. OCC does not
believe that the proposed rule change
would have any impact or impose a
burden on competition. OCC believes
that the proposed rule change would not
disadvantage or favor any particular
user of OCC’s services in relationship to
another user because the proposed fee
holiday would apply equally to all
Clearing Members. Accordingly, OCC
does not believe that the proposed rule
change would have any impact or
impose a burden on competition.
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change Received From Members,
Participants or Others
Written comments were not and are
not intended to be solicited with respect
to the proposed rule change, and none
have been received.

lotter on DSK11XQN23PROD with NOTICES1

III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 26 and paragraph (f) of Rule
19b–4 27 thereunder. At any time within
22 17

CFR 240.17ad–22(e)(15).
CFR 240.17ad–22(e)(15)(ii).
24 OCC has filed Exhibit 3 [sic] to File No. SR–
OCC–019 showing projected cash outflows and
LNAFBE compared to OCC’s Target Capital
Requirement.
25 15 U.S.C. 78q–1(b)(3)(I).
26 15 U.S.C. 78s(b)(3)(A).
27 17 CFR 240.19b–4(f).
23 17

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17:01 Dec 02, 2025

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60 days of the filing of the proposed rule
change, the Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
The proposal shall not take effect
until all regulatory actions required
with respect to the proposal are
completed.28
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules-regulations/self-regulatoryorganization-rulemaking); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
OCC–2025–019 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to file
number SR–OCC–2025–019. 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 Commission’s
internet website (https://www.sec.gov/
rules-regulations/self-regulatoryorganization-rulemaking). Copies of
such filing will be available for
inspection and copying at the principal
office of OCC and on OCC’s website at
https://www.theocc.com/CompanyInformation/Documents-and-Archives/
By-Laws-and-Rules.
Do not include personal identifiable
information in submissions; you should
submit only information that you wish
to make available publicly. We may
redact in part or withhold entirely from
publication submitted material that is
obscene or subject to copyright
protection.
All submissions should refer to file
number SR–OCC–2025–019 and should
be submitted on or before December 24,
2025.
28 Notwithstanding its immediate effectiveness,
implementation of this rule change will be delayed
until this change is deemed certified under CFTC
Regulation 40.6.

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55771

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.29
Stephanie Fouse,
Assistant Secretary.
[FR Doc. 2025–21775 Filed 12–2–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0065]

Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Extension:
Form S–1 Registration Statement
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
(‘‘OMB’’) this request for extension of
the previously approved collection of
information discussed below.
Form S–1 (17 CFR 239.11) is used by
domestic issuers who are not eligible to
use other forms to register a public
offering of their securities under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.). The information collected is
intended to ensure the adequacy of
information available to investors in
connection with securities offerings.
The information required by Form S–1
is mandatory, and Form S–1 is publicly
available on the Commission’s
Electronic Data Gathering, Analysis, and
Retrieval (‘‘EDGAR’’) system. We
estimate that Form S–1 takes
approximately 642.56 hours per
response and is filed once per year by
approximately 908 issuers, for a total of
approximately 908 responses annually.
We estimate that 25% of the 642.56
hours per response is carried internally
by the issuer for annual reporting
burden of 145,861 hours ((25% × 642.56
hours per response) × 908 responses).
We estimate that 75% of the 642.56
hours per response is carried externally
by outside professionals retained by the
issuer at an estimated rate of $600 per
hour for a total annual cost burden of
$262,550,016 ((75% × 642.56 hours per
response) × $600 per hour × 908
responses).
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
29 17

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CFR 200.30–3(a)(12).

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55772

Federal Register / Vol. 90, No. 230 / Wednesday, December 3, 2025 / Notices

unless it displays a currently valid OMB
Control Number.
The public may view and comment
on this information collection request
at: https://www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=202508-3235-003
or email comment to
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov within 30 days of the day
after publication of this notice, by
January 5, 2026.
Dated: December 1, 2025.
Sherry R. Haywood,
Assistant Secretary.
BILLING CODE 8011–01–P

Shawn Davis, Assistant Director, at
(202) 551–6413 or Chief Counsel’s
Office at (202) 551–6821; SEC, Division
of Investment Management, Chief
Counsel’s Office, 100 F Street NE,
Washington, DC 20549–8010.

[FR Doc. 2025–21874 Filed 12–1–25; 4:15 pm]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION

November 28, 2025.

Notice is hereby given,
pursuant to the provisions of the
Government in the Sunshine Act, Public
Law 94–409, that the Securities and
Exchange Commission’s Crypto Task
Force will hold a public meeting on
December 15, 2025, from 1 p.m. to 5
p.m. (ET).
PLACE: The roundtable will be held in
the Auditorium at the Commission’s
headquarters, 100 F Street NE,
Washington, DC 20549.
STATUS: This Sunshine Act notice is
being issued because a majority of the
Commission may attend the meeting.
The meeting will begin at 1 p.m. (ET)
and will be open to the public. Seating
will be on a first-come, first-served
basis. Doors will open at 12 p.m. (ET).
Visitors will be subject to security
checks. The meeting will be webcast on
the Commission’s website at
www.sec.gov, and a recording will be
posted at a later date.
MATTERS TO BE CONSIDERED: The Crypto
Task Force will host a roundtable on
financial surveillance and privacy. The
roundtable is open to the public, who
must register at this link. This
roundtable was originally scheduled for
October 17, 2025, but due to the lapse
in appropriations, it was rescheduled.
Any member of the public who
registered for the October 17 roundtable
will automatically be re-registered for
the roundtable on this new date.
The agenda for the roundtable will
focus on financial surveillance and
privacy. Members of the public are able
to communicate directly on this and
other topics and request a meeting with
the Crypto Task Force.
CONTACT PERSON FOR MORE INFORMATION:
For further information, please contact
TIME AND DATE:

Jkt 268001

Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice of applications for
deregistration under section 8(f) of the
Investment Company Act of 1940.
AGENCY:

Sunshine Act Meetings

lotter on DSK11XQN23PROD with NOTICES1

Dated: December 1, 2025.
Vanessa A. Countryman,
Secretary.

Deregistration Under Section 8(f) of the
Investment Company Act of 1940

SECURITIES AND EXCHANGE
COMMISSION

17:01 Dec 02, 2025

ADDRESSES:

[Investment Company Act Release No.
35816]

[FR Doc. 2025–21828 Filed 12–2–25; 8:45 am]

VerDate Sep<11>2014

Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Authority: 5 U.S.C. 552b.

The following is a notice of
applications for deregistration under
section 8(f) of the Investment Company
Act of 1940 for the month of November
2025. A copy of each application may be
obtained via the Commission’s website
by searching for the applicable file
number listed below, or for an applicant
using the Company name search field,
on the SEC’s EDGAR system. The SEC’s
EDGAR system may be searched at
https://www.sec.gov/edgar/searchedgar/
companysearch.html. You may also call
the SEC’s Office of Investor Education
and Advocacy at (202) 551–8090. An
order granting each application will be
issued unless the SEC orders a hearing.
Interested persons may request a
hearing on any application by emailing
the SEC’s Secretary at [email protected] and serving the relevant
applicant with a copy of the request by
email, if an email address is listed for
the relevant applicant below, or
personally or by mail, if a physical
address is listed for the relevant
applicant below. Hearing requests
should be received by the SEC by 5:30
p.m. on December 23, 2025, and should
be accompanied by proof of service on
applicants, in the form of an affidavit or,
for lawyers, a certificate of service.
Pursuant to Rule 0–5 under the Act,
hearing requests should state the nature
of the writer’s interest, any facts bearing
upon the desirability of a hearing on the
matter, the reason for the request, and
the issues contested. Persons who wish
to be notified of a hearing may request
notification by writing to the
Commission’s Secretary at [email protected].

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The Commission:
[email protected].

FOR FURTHER INFORMATION CONTACT:

AB Global Real Estate Investment Fund
[File No. 811–07707]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On April 30,
2025, applicant made a liquidating
distribution to its shareholders based on
net asset value. Expenses of $14,914
incurred in connection with the
liquidation were paid by the applicant’s
investment adviser.
Filing Dates: The application was
filed on October 24, 2025.
Applicant’s Address: 66 Hudson
Boulevard East, 26th Floor, New York,
New York 10001.
BIF Multi State Municipal Series Trust
[File No. 811–05011]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On December 20,
2012, December 19, 2014, and July 6,
2016, applicant made a liquidating
distribution to its shareholders based on
net asset value. Expenses of $50,595
incurred in connection with the
liquidation were paid by the applicant’s
investment adviser and its affiliates.
Filing Date: The application was filed
on October 16, 2025.
Applicant’s Address: BIF Multi State
Municipal Series Trust, 100 Bellevue
Parkway, Wilmington, Delaware 19809.
BNY Mellon Municipal Income, Inc.
[File No. 811–05652]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. The applicant has
transferred its assets to BNY Mellon
AMT-Free Municipal Bond Fund, a
series of BNY Mellon Municipal Funds,
Inc., and on June 16, 2025, made a final
distribution to its shareholders based on
net asset value. Expenses of $400,000
incurred in connection with the
reorganization were paid by the
applicant.
Filing Date: The application was filed
on October 10, 2025.
Applicant’s Address: c/o BNY Mellon
Investment Adviser, Inc., 240
Greenwich Street, New York, New York
10286.

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