Proposed Collection; Comment Request, 6554-6555 [2016-02337]

Download as PDF 6554 Federal Register / Vol. 81, No. 25 / Monday, February 8, 2016 / Notices Commission hereby grants the Exchange’s request and designates the proposal operative upon filing. At any time within 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. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. 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: asabaliauskas on DSK5VPTVN1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File No. SR– EDGX–2016–01 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 No. SR–EDGX–2016–01. 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 Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change 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 Web site viewing and printing in the Commission’s 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 such efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Sep<11>2014 17:51 Feb 05, 2016 Jkt 238001 filing will also be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR–EDGX– 2016–01 and should be submitted on or beforeFebruary 29, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–02336 Filed 2–5–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 605 of Regulation NMS; SEC File No 270–488, OMB Control No. 3235–0542 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 605 of Regulation NMS (‘‘Rule 605’’) (17 CFR 242.605),1 under the Securities Exchange Act of 1934 (15 U.S.C. 78a, et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 605, formerly known as, Rule 11Ac1–5, requires market centers to make available to the public monthly order execution reports in electronic form. The Commission believes that many market centers retain most, if not all, of the underlying raw data necessary to generate these reports in electronic format. Once the necessary data is collected, market centers could either 16 17 CFR 200.30–3(a)(12). NMS, adopted by the Commission in June 2005, redesignated the national market system rules previously adopted under Section 11A of the Exchange Act. Rule 11Ac1–5 under the Exchange Act was redesignated Rule 605 of Regulation NMS. No substantive amendments were made to Rule 605 of Regulation NMS. See Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005). 1 Regulation PO 00000 Frm 00054 Fmt 4703 Sfmt 4703 program their systems to generate the statistics and reports, or transfer the data to a service provider (such as an independent company in the business of preparing such reports or a selfregulatory organization) that would generate the statistics and reports. The collection of information obligations of Rule 605 apply to all market centers that receive covered orders in national market system securities. The Commission estimates that approximately 132 market centers are subject to the collection of information obligations of Rule 605. Each of these respondents is required to respond to the collection of information on a monthly basis. The Commission staff estimates that, on average, Rule 605 causes respondents to spend 6 hours per month to collect the data necessary to generate the reports, or 72 hours per year. With an estimated 132 market centers subject to Rule 605, the total data collection time burden to comply with the monthly reporting requirement is estimated to be 9,504 hours per year. Based on discussions with industry sources, the Commission staff estimates that an individual market center could retain a service provider to prepare a monthly report using the data collected for approximately $2,978 per month. This per-respondent estimate is based on the rate that a market center could expect to obtain if it negotiated on an individual basis. Based on the $2,978 estimate, the monthly cost to the 132 market centers to retain service providers to prepare reports would be $393,096, or an annual cost of approximately $4,717,152. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information will have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to Pamela C. Dyson, Director/Chief E:\FR\FM\08FEN1.SGM 08FEN1 Federal Register / Vol. 81, No. 25 / Monday, February 8, 2016 / Notices Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: February 2, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–02337 Filed 2–5–16; 8:45 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77015; File No. SR–FINRA– 2016–003] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Implementation Date of the ‘‘NoRemuneration’’ Indicator February 2, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’)1 and Rule 19b–4 thereunder,2 notice is hereby given that on January 27, 2016, Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by FINRA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. asabaliauskas on DSK5VPTVN1PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to extend the implementation date of the NoRemuneration indicator to July 18, 2016. The proposed rule change would not make any changes to FINRA rules. The text of the proposed rule change is available on FINRA’s Web site at http://www.finra.org, at the principal office of FINRA and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 17:51 Feb 05, 2016 Jkt 238001 in Item IV below. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. systems changes necessary to comply with SR–FINRA–2015–026. FINRA has filed the proposed rule change for immediate effectiveness. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 2. Statutory Basis 1. Purpose BILLING CODE 8011–01–P 6555 On July 20, 2015, FINRA filed a proposed rule change to amend FINRA Rule 6730 (Transaction Reporting), which governs the reporting of eligible transactions to its Trade Reporting and Compliance Engine (‘‘TRACE’’).3 Rule 6730 sets forth the requirements that apply to firms when reporting transactions in TRACE-eligible securities,4 and provides the specific items of information that must be included in a TRACE trade report. Among other things, Rules 6730(c) and (d) require that firms report the commission (total dollar amount) separately on the TRACE trade report for agency transactions. FINRA then combines the dollar amount that is reported as the commission with the amount that is reported in the price field, and disseminates to the market this aggregate amount as the transaction’s price. For principal transactions, Rule 6730(d)(1) provides that firms must report a price that includes the mark-up/mark-down, and FINRA disseminates this price to the market. In SR–FINRA–2015–026, FINRA proposed to amend Rule 6730 to require that firms use a ‘‘No-Remuneration’’ indicator to identify those transactions for which a commission or mark-up/ mark-down is not reflected in a TRACE trade report. The Commission approved the proposal, on October 16, 2015.5 In its filing, FINRA represented that the implementation date of these amendments would be May 23, 2016. FINRA has since determined to extend the implementation date for this proposal to July 18, 2016 to provide members additional time to complete 3 See Securities Exchange Act Release No. 75588 (August 3, 2015), 80 FR 47546 (August 7, 2015) (Notice of Filing of File No. SR–FINRA–2015–026). 4 Rule 6710 generally defines a ‘‘TRACE-eligible security’’ as: (1) a debt security that is U.S. dollardenominated and issued by a U.S. or foreign private issuer (and, if a ‘‘restricted security’’ as defined in Securities Act Rule 144(a)(3), sold pursuant to Securities Act Rule 144A); or (2) a debt security that is U.S. dollar denominated and issued or guaranteed by an ‘‘Agency’’ as defined in Rule 6710(k) or a ‘‘Government-Sponsored Enterprise’’ as defined in Rule 6710(n). 5 See Securities Exchange Act Release No. 76176 (October 16, 2015), 80 FR 64039 (October 22, 2015) (Order Approving File No. SR–FINRA–2015–026). PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 FINRA believes that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Act,6 which requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest, and Section 15A(b)(9) of the Act,7 which requires that FINRA rules not impose any burden on competition that is not necessary or appropriate. FINRA believes that the extension of the implementation date until July 18, 2016, is consistent with the Act in that it would provide members with additional time to complete the systems changes necessary to comply with SR– FINRA–2015–026. B. Self-Regulatory Organization’s Statement on Burden on Competition FINRA does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 8 and Rule 19b– 4(f)(6) thereunder.9 6 15 U.S.C. 78o-3(b)(6). U.S.C. 78o-3(b)(9). 8 15 U.S.C. 78s(b)(3)(A). 9 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. FINRA has satisfied this requirement. 7 15 E:\FR\FM\08FEN1.SGM 08FEN1

Agencies

[Federal Register Volume 81, Number 25 (Monday, February 8, 2016)]
[Notices]
[Pages 6554-6555]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-02337]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension:
    Rule 605 of Regulation NMS; SEC File No 270-488, OMB Control No. 
3235-0542

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 605 of Regulation NMS 
(``Rule 605'') (17 CFR 242.605),\1\ under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a, et seq.) (``Exchange Act''). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget (``OMB'') for extension and approval. Rule 
605, formerly known as, Rule 11Ac1-5, requires market centers to make 
available to the public monthly order execution reports in electronic 
form. The Commission believes that many market centers retain most, if 
not all, of the underlying raw data necessary to generate these reports 
in electronic format. Once the necessary data is collected, market 
centers could either program their systems to generate the statistics 
and reports, or transfer the data to a service provider (such as an 
independent company in the business of preparing such reports or a 
self-regulatory organization) that would generate the statistics and 
reports.
---------------------------------------------------------------------------

    \1\ Regulation NMS, adopted by the Commission in June 2005, 
redesignated the national market system rules previously adopted 
under Section 11A of the Exchange Act. Rule 11Ac1-5 under the 
Exchange Act was redesignated Rule 605 of Regulation NMS. No 
substantive amendments were made to Rule 605 of Regulation NMS. See 
Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 
37496 (June 29, 2005).
---------------------------------------------------------------------------

    The collection of information obligations of Rule 605 apply to all 
market centers that receive covered orders in national market system 
securities. The Commission estimates that approximately 132 market 
centers are subject to the collection of information obligations of 
Rule 605. Each of these respondents is required to respond to the 
collection of information on a monthly basis.
    The Commission staff estimates that, on average, Rule 605 causes 
respondents to spend 6 hours per month to collect the data necessary to 
generate the reports, or 72 hours per year. With an estimated 132 
market centers subject to Rule 605, the total data collection time 
burden to comply with the monthly reporting requirement is estimated to 
be 9,504 hours per year.
    Based on discussions with industry sources, the Commission staff 
estimates that an individual market center could retain a service 
provider to prepare a monthly report using the data collected for 
approximately $2,978 per month. This per-respondent estimate is based 
on the rate that a market center could expect to obtain if it 
negotiated on an individual basis. Based on the $2,978 estimate, the 
monthly cost to the 132 market centers to retain service providers to 
prepare reports would be $393,096, or an annual cost of approximately 
$4,717,152.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information will 
have practical utility; (b) the accuracy of the Commission's estimate 
of the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to Pamela C. Dyson, Director/
Chief

[[Page 6555]]

Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: February 2, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-02337 Filed 2-5-16; 8:45 am]
 BILLING CODE 8011-01-P