Submission for OMB Review; Comment Request, 23792-23793 [2016-09359]
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23792
Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices
in which market participants can
readily favor competing venues if, for
example, they deem fee levels at a
particular venue to be excessive or if
they determine that another venue’s
products and services are more
competitive than on the Exchange. In
such an environment, the Exchange
must continually review, and consider
adjusting, the services it offers as well
as any corresponding fees and credits to
remain competitive with other
exchanges. For the reasons described
above, the Exchange believes that the
proposed rule change reflects this
competitive environment.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission shall: (a) By order
approve or disapprove such proposed
rule change, or (b) institute proceedings
to determine whether the proposed rule
change should be disapproved.
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/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File No. SR–
NYSE–2016–11 on the subject line.
mstockstill on DSK4VPTVN1PROD with NOTICES
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–NYSE–2016–11. This file number
should be included on the subject line
if email is used. To help the
Commission process and review your
19:18 Apr 21, 2016
Jkt 238001
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.24
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–09323 Filed 4–21–16; 8:45 am]
BILLING CODE 8011–01–P
IV. Solicitation of Comments
VerDate Sep<11>2014
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://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
filing also will 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–NYSE–
2016–11, and should be submitted on or
before May 13, 2016.
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
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 15a–6, SEC File No. 270–0329, OMB
Control No. 3235–0371.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
24 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00119
Fmt 4703
Sfmt 4703
Rule 15a–6 (17 CFR 240.15a–6) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 15a–6 provides conditional
exemptions from the requirement to
register as a broker-dealer pursuant to
Section 15 of the Exchange Act (15
U.S.C. 78o) for foreign broker-dealers
that engage in certain specified
activities involving U.S. persons. In
particular, Rule 15a–6(a)(3) provides an
exemption from broker-dealer
registration for foreign broker-dealers
that solicit and effect transactions with
or for U.S. institutional investors or
major U.S. institutional investors
through a registered broker-dealer,
provided that the U.S. broker-dealer,
among other things, obtains certain
information about, and consents to
service of process from, the personnel of
the foreign broker-dealer involved in
such transactions, and maintains certain
records in connection therewith.
These requirements are intended to
ensure (a) that the registered brokerdealer will receive notice of the identity
of, and has reviewed the background of,
foreign personnel who will contact U.S.
investors, (b) that the foreign brokerdealer and its personnel effectively may
be served with process in the event
enforcement action is necessary, and (c)
that the Commission has ready access to
information concerning these persons
and their U.S. securities activities.
Commission staff estimates that
approximately 2,000 U.S. registered
broker-dealers will spend an average of
two hours of clerical staff time and one
hour of managerial staff time per year
obtaining the information required by
the rule, resulting in a total aggregate
burden of 6,000 hours per year for
complying with the rule. Assuming an
hourly cost of $63 1 for a compliance
clerk and $269 2 for a compliance
manager, the resultant total internal
labor cost of compliance for the
respondents is $818,000 per year (2,000
entities × ((2 hours/entity × $63/hour) +
(1 hour per entity × $283/hour)) =
$818,000).
In general, the records to be
maintained under Rule 15a–6 must be
kept for the applicable time periods as
set forth in Rule 17a–4 (17 CFR
240.17a–4) under the Exchange Act or,
1 The hourly rate used for a compliance clerk was
from SIFMA’s Office Salaries in the Securities
Industry 2013, modified by Commission staff to
account for an 1,800 hour work-year and multiplied
by 2.93 to account for bonuses, firm size, employee
benefits and overhead.
2 The hourly rate used for a compliance manager
was from SIFMA’s Management & Professional
Earnings in the Securities Industry 2013, modified
by Commission staff to account for an 1,800 hour
work-year and multiplied by 5.35 to account for
bonuses, firm size, employee benefits and overhead.
E:\FR\FM\22APN1.SGM
22APN1
Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices
with respect to the consents to service
of process, for a period of not less than
six years after the applicable person
ceases engaging in U.S. securities
activities. Reliance on the exemption set
forth in Rule 15a–6 is voluntary, but if
a foreign broker-dealer elects to rely on
such exemption, the collection of
information described therein is
mandatory. The collection does not
involve confidential information.
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.
The public may view background
documentation for this information
collection at the following Web site,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
100 F Street NE., Washington, DC
20549, or by sending an email to: PRA_
Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of
this notice.
Dated: April 19, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–09359 Filed 4–21–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
mstockstill on DSK4VPTVN1PROD with NOTICES
Extension:
Rule 204A–1, SEC File No. 270–536, OMB
Control No. 3235–0596.
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 (the
‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Rule 204A–1 (17 CFR
VerDate Sep<11>2014
19:18 Apr 21, 2016
Jkt 238001
275.204A–1) under the Investment
Advisers Act of 1940.’’ (15 U.S.C. 80b–
1 et seq.) Rule 204A–1 (the ‘‘Code of
Ethics Rule’’) requires investment
advisers registered with the SEC to (i)
set forth standards of conduct expected
of advisory personnel (including
compliance with the federal securities
laws); (ii) safeguard material nonpublic
information about client transactions;
and (iii) require the adviser’s ‘‘access
persons’’ to report their personal
securities transactions, including
transactions in any mutual fund
managed by the adviser. The Code of
Ethics Rule requires access persons to
obtain the adviser’s approval before
investing in an initial public offering
(‘‘IPO’’) or private placement. The Code
of Ethics Rule also requires prompt
reporting, to the adviser’s chief
compliance officer or another person
designated in the code of ethics, of any
violations of the code. Finally, the Code
of Ethics Rule requires the adviser to
provide each supervised person with a
copy of the code of ethics and any
amendments, and require the
supervised persons to acknowledge, in
writing, their receipt of these copies.
The purposes of the information
collection requirements are to (i) ensure
that advisers maintain codes of ethics
applicable to their supervised persons;
(ii) provide advisers with information
about the personal securities
transactions of their access persons for
purposes of monitoring such
transactions; (iii) provide advisory
clients with information with which to
evaluate advisers’ codes of ethics; and
(iv) assist the Commission’s
examination staff in assessing the
adequacy of advisers’ codes of ethics
and assessing personal trading activity
by advisers’ supervised persons.
The respondents to this information
collection are investment advisers
registered with the Commission. The
Commission has estimated that
compliance with rule 204A–1 imposes a
burden of approximately 118 hours per
adviser annually based on an average
adviser having 84 access persons. Our
latest data indicate that there were
12,028 advisers registered with the
Commission. Based on this figure, the
Commission estimates a total annual
burden of 1,418,703 hours for this
collection of information.
Rule 204A–1 does not require
recordkeeping or record retention. The
collection of information requirements
under the rule is mandatory. The
information collected pursuant to the
rule is not filed with the Commission,
but rather takes the form of
communications between advisers and
their supervised persons. Investment
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
23793
advisers use the information collected to
control and assess the personal trading
activities of their supervised persons.
Responses to the reporting requirements
will be kept confidential to the extent
each investment adviser provides
confidentiality under its particular
practices and procedures. An agency
may not conduct or sponsor, and a
person is not required to respond to, a
collection of information unless it
displays a currently valid control
number.
The public may view the background
documentation for this information
collection at the following Web site,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief 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. Comments must be submitted to
OMB within 30 days of this notice.
Dated: April 19, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–09358 Filed 4–21–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77636; File No. SRBatsEDGX–2016–12]
Self-Regulatory Organizations; Bats
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Adopt
Exchange Rule 14.10 Setting Forth
Additional Requirements for the
Listing of Securities That Are Issued
by the Exchange or Any of Its Affiliates
April 18, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 13,
2016, Bats EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) 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 the Exchange. The Exchange has
1 15
2 17
E:\FR\FM\22APN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
22APN1
]]>Agencies
[Federal Register Volume 81, Number 78 (Friday, April 22, 2016)]
[Notices]
[Pages 23792-23793]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09359]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; 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 15a-6, SEC File No. 270-0329, OMB Control No. 3235-0371.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved collection of information provided for in Rule 15a-
6 (17 CFR 240.15a-6) under the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 15a-6 provides conditional exemptions from the requirement to
register as a broker-dealer pursuant to Section 15 of the Exchange Act
(15 U.S.C. 78o) for foreign broker-dealers that engage in certain
specified activities involving U.S. persons. In particular, Rule 15a-
6(a)(3) provides an exemption from broker-dealer registration for
foreign broker-dealers that solicit and effect transactions with or for
U.S. institutional investors or major U.S. institutional investors
through a registered broker-dealer, provided that the U.S. broker-
dealer, among other things, obtains certain information about, and
consents to service of process from, the personnel of the foreign
broker-dealer involved in such transactions, and maintains certain
records in connection therewith.
These requirements are intended to ensure (a) that the registered
broker-dealer will receive notice of the identity of, and has reviewed
the background of, foreign personnel who will contact U.S. investors,
(b) that the foreign broker-dealer and its personnel effectively may be
served with process in the event enforcement action is necessary, and
(c) that the Commission has ready access to information concerning
these persons and their U.S. securities activities. Commission staff
estimates that approximately 2,000 U.S. registered broker-dealers will
spend an average of two hours of clerical staff time and one hour of
managerial staff time per year obtaining the information required by
the rule, resulting in a total aggregate burden of 6,000 hours per year
for complying with the rule. Assuming an hourly cost of $63 \1\ for a
compliance clerk and $269 \2\ for a compliance manager, the resultant
total internal labor cost of compliance for the respondents is $818,000
per year (2,000 entities x ((2 hours/entity x $63/hour) + (1 hour per
entity x $283/hour)) = $818,000).
---------------------------------------------------------------------------
\1\ The hourly rate used for a compliance clerk was from SIFMA's
Office Salaries in the Securities Industry 2013, modified by
Commission staff to account for an 1,800 hour work-year and
multiplied by 2.93 to account for bonuses, firm size, employee
benefits and overhead.
\2\ The hourly rate used for a compliance manager was from
SIFMA's Management & Professional Earnings in the Securities
Industry 2013, modified by Commission staff to account for an 1,800
hour work-year and multiplied by 5.35 to account for bonuses, firm
size, employee benefits and overhead.
---------------------------------------------------------------------------
In general, the records to be maintained under Rule 15a-6 must be
kept for the applicable time periods as set forth in Rule 17a-4 (17 CFR
240.17a-4) under the Exchange Act or,
[[Page 23793]]
with respect to the consents to service of process, for a period of not
less than six years after the applicable person ceases engaging in U.S.
securities activities. Reliance on the exemption set forth in Rule 15a-
6 is voluntary, but if a foreign broker-dealer elects to rely on such
exemption, the collection of information described therein is
mandatory. The collection does not involve confidential information.
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. The public may view
background documentation for this information collection at the
following Web site, www.reginfo.gov. Comments should be directed to:
(i) Desk Officer for the Securities and Exchange Commission, Office of
Information and Regulatory Affairs, Office of Management and Budget,
Room 10102, New Executive Office Building, Washington, DC 20503, or by
sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson,
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by
sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to
OMB within 30 days of this notice.
Dated: April 19, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-09359 Filed 4-21-16; 8:45 am]
BILLING CODE 8011-01-P
