Submission for OMB Review; Comment Request, 71777-71778 [2016-25088]

Download as PDF Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates November 29, 2016 as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR–Phlx–2016–86). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–25086 Filed 10–17–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Lhorne on DSK30JT082PROD with NOTICES Extension: Rule 0–4 SEC File No. 270–569, OMB Control No. 3235–0633. 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 approval of the collection of information discussed below. Rule 0–4 (17 CFR 275.0–4) under the Investment Advisers Act of 1940 (‘‘Act’’ or ‘‘Advisers Act’’) (15 U.S.C. 80b–1 et seq.) entitled ‘‘General Requirements of Papers and Applications,’’ prescribes general instructions for filing an application seeking exemptive relief with the Commission. Rule 0–4 currently requires that every application for an order for which a form is not specifically prescribed and which is executed by a corporation, partnership or other company and filed with the Commission contain a statement of the applicable provisions of the articles of 5 Id. 6 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 incorporation, bylaws or similar documents, relating to the right of the person signing and filing such application to take such action on behalf of the applicant, and a statement that all such requirements have been complied with and that the person signing and filing the application is fully authorized to do so. If such authorization is dependent on resolutions of stockholders, directors, or other bodies, such resolutions must be attached as an exhibit to or quoted in the application. Any amendment to the application must contain a similar statement as to the applicability of the original statement of authorization. When any application or amendment is signed by an agent or attorney, rule 0–4 requires that the power of attorney evidencing his authority to sign shall state the basis for the agent’s authority and shall be filed with the Commission. Every application subject to rule 0–4 must be verified by the person executing the application by providing a notarized signature in substantially the form specified in the rule. Each application subject to rule 0– 4 must state the reasons why the applicant is deemed to be entitled to the action requested with a reference to the provisions of the Act and rules thereunder, the name and address of each applicant, and the name and address of any person to whom any questions regarding the application should be directed. Rule 0–4 requires that a proposed notice of the proceeding initiated by the filing of the application accompany each application as an exhibit and, if necessary, be modified to reflect any amendment to the application. The requirements of rule 0–4 are designed to provide Commission staff with the necessary information to assess whether granting the orders of exemption are necessary and appropriate in the public interest and consistent with the protection of investors and the intended purposes of the Act. Applicants for orders under the Advisers Act can include registered investment advisers, affiliated persons of registered investment advisers, and entities seeking to avoid investment adviser status, among others. Commission staff estimates that it receives up to 3 applications per year submitted under rule 0–4 of the Act seeking relief from various provisions of the Advisers Act and, in addition, up to 9 applications per year submitted under Advisers Act rule 206(4)–5, which addresses certain ‘‘pay to play’’ practices and also provides the Commission the authority to grant applications seeking relief from certain PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 71777 of the rule’s restrictions. Although each application typically is submitted on behalf of multiple applicants, the applicants in the vast majority of cases are related entities and are treated as a single respondent for purposes of this analysis. Most of the work of preparing an application is performed by outside counsel and, therefore, imposes no hourly burden on respondents. The cost outside counsel charges applicants depends on the complexity of the issues covered by the application and the time required. Based on conversations with applicants and attorneys, the cost for applications ranges from approximately $12,800 for preparing a wellprecedented, routine (or otherwise less involved) application to approximately $200,000 to prepare a complex or novel application. We estimate that the Commission receives 1 of the most timeconsuming applications annually, 2 applications of medium difficulty, and 9 of the least difficult applications subject to rule 0–4.1 This distribution gives a total estimated annual cost burden to applicants of filing all applications of $402,200 [(1 × $200,000) + (2 × $43,500) + (9 × $12,800)]. The estimate of annual cost burden is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even representative survey or study of the costs of Commission rules and forms. The requirements of this collection of information are required to obtain or retain benefits. Responses will not be kept confidential. 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 send an email to: Shagufta_Ahmed@ omb.eop.gov; and (ii) Pamela Dyson, 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. 1 The estimated 9 least difficult applications include the estimated 9 applications per year submitted under Advisers Act rule 206(4)–5. E:\FR\FM\18OCN1.SGM 18OCN1 71778 Federal Register / Vol. 81, No. 201 / Tuesday, October 18, 2016 / Notices Dated: October 11, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–25088 Filed 10–17–16; 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. Lhorne on DSK30JT082PROD with NOTICES Extension: Rule 6a–4, Form 1–N; SEC File No. 270– 496, OMB Control No. 3235–0554. 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’’) is soliciting comments on the collection of information provided for in Rule 6a–4 and Form 1– N, summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. The Code of Federal Regulation citation to this collection of information is 17 CFR 240.6a–4 and 17 CFR 249.10 under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’). Section 6 of the Act 1 sets out a framework for the registration and regulation of national securities exchanges. Under the Commodity Futures Modernization Act of 2000, a futures market may trade security futures products by registering as a national securities exchange. Rule 6a– 4 2 sets forth these registration procedures and directs futures markets to submit a notice registration on Form 1–N.3 Form 1–N calls for information regarding how the futures market operates, its rules and procedures, corporate governance, its criteria for membership, its subsidiaries and affiliates, and the security futures products it intends to trade. Rule 6a–4 also requires entities that have submitted an initial Form 1–N to file: (1) Amendments to Form 1–N in the event of material changes to the information provided in the initial Form 1–N; (2) periodic updates of certain information provided in the initial Form 1–N; (3) certain information that is provided to the futures market’s members; and (4) a 1 15 U.S.C. 78f. CFR 240.6a–4. 3 17 CFR 249.10. 2 17 VerDate Sep<11>2014 13:19 Oct 17, 2016 Jkt 241001 monthly report summarizing the futures market’s trading of security futures products. The information required to be filed with the Commission pursuant to Rule 6a–4 is designed to enable the Commission to carry out its statutorily mandated oversight functions and to ensure that registered and exempt exchanges continue to be in compliance with the Act. The respondents to the collection of information are futures markets. The Commission estimates that the total annual burden for all respondents to provide ad hoc amendments 4 to keep the Form 1–N accurate and up to date as required under Rule 6a–4 would be 60 hours (15 hours/respondent per year × 4 respondents 5) and $400 of miscellaneous clerical expenses. The Commission estimates that the total annual burden for all respondents to provide annual and three-year amendments 6 under Rule 6a–4 would be 88 hours (22 hours/respondent per year × 4 respondents) and $576 ($144 per year × 4 respondents 7). The Commission estimates that the total annual burden for the filing of the supplemental information 8 and the monthly reports required under Rule 6a–4 would be 24 hours (6 hours/ respondent per year × 4 respondents 9) and $240 of miscellaneous clerical expenses. Thus, the Commission estimates the total annual burden for complying with Rule 6a–4 is 172 hours and $1216 in miscellaneous clerical expenses. Compliance with Rule 6a–4 is mandatory. Information received in response to Rule 6a–4 shall not be kept confidential; the information collected is public information. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or 4 17 CFR 240.6a–4(b)(1). Commission estimates that four exchanges will file amendments with the Commission in order to keep their Form 1–N current. 6 17 CFR 240.6a–4(b)(3) and (4). 7 The Commission notes that while there are currently five Security Futures Product Exchanges, one of those exchanges, NQLX, is dormant. 8 17 CFR 240.6a–4(c). 9 See supra footnote 7. 5 The PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 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 Dyson, Director/Chief 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: October 12, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–25089 Filed 10–17–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–79084; File No. SR– BatsBZX–2016–30] Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change to BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, To List and Trade Winklevoss Bitcoin Shares Issued by the Winklevoss Bitcoin Trust October 12, 2016. On June 30, 2016, Bats BZX Exchange, Inc. (‘‘BZX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade Winklevoss Bitcoin Shares (‘‘Shares’’) issued by the Winklevoss Bitcoin Trust (‘‘Trust’’) under BZX Rule 14.11(e)(4). The proposed rule change was published for comment in the Federal Register on July 14, 2016.3 The Commission has received six comment letters on the proposed rule change.4 On August 23, 2016, pursuant 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 78262 (Jul. 8, 2016), 81 FR 45554 (‘‘Notice’’). 4 See Letters from Robert D. Miller, VP Technical Services, RKL eSolutions (July 11, 2016) (‘‘Miller Letter’’); Jorge Stolfi, Full Professor, Institute of Computing UNICAMP (July 13, 2016) (‘‘Stolfi Letter’’); Guillaume Lethuillier (July 26, 2016) (‘‘Lethuillier Letter’’); Michael B. Casey (July 31, 2016) (‘‘Casey Letter’’); Erik A. Aronesty, Sr. Software Engineer, Bloomberg LP (Aug. 2, 2016) 2 17 E:\FR\FM\18OCN1.SGM 18OCN1

Agencies

[Federal Register Volume 81, Number 201 (Tuesday, October 18, 2016)]
[Notices]
[Pages 71777-71778]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-25088]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Extension:
    Rule 0-4 SEC File No. 270-569, OMB Control No. 3235-0633.

    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 approval of the collection of 
information discussed below.
    Rule 0-4 (17 CFR 275.0-4) under the Investment Advisers Act of 1940 
(``Act'' or ``Advisers Act'') (15 U.S.C. 80b-1 et seq.) entitled 
``General Requirements of Papers and Applications,'' prescribes general 
instructions for filing an application seeking exemptive relief with 
the Commission. Rule 0-4 currently requires that every application for 
an order for which a form is not specifically prescribed and which is 
executed by a corporation, partnership or other company and filed with 
the Commission contain a statement of the applicable provisions of the 
articles of incorporation, bylaws or similar documents, relating to the 
right of the person signing and filing such application to take such 
action on behalf of the applicant, and a statement that all such 
requirements have been complied with and that the person signing and 
filing the application is fully authorized to do so. If such 
authorization is dependent on resolutions of stockholders, directors, 
or other bodies, such resolutions must be attached as an exhibit to or 
quoted in the application. Any amendment to the application must 
contain a similar statement as to the applicability of the original 
statement of authorization. When any application or amendment is signed 
by an agent or attorney, rule 0-4 requires that the power of attorney 
evidencing his authority to sign shall state the basis for the agent's 
authority and shall be filed with the Commission. Every application 
subject to rule 0-4 must be verified by the person executing the 
application by providing a notarized signature in substantially the 
form specified in the rule. Each application subject to rule 0-4 must 
state the reasons why the applicant is deemed to be entitled to the 
action requested with a reference to the provisions of the Act and 
rules thereunder, the name and address of each applicant, and the name 
and address of any person to whom any questions regarding the 
application should be directed. Rule 0-4 requires that a proposed 
notice of the proceeding initiated by the filing of the application 
accompany each application as an exhibit and, if necessary, be modified 
to reflect any amendment to the application.
    The requirements of rule 0-4 are designed to provide Commission 
staff with the necessary information to assess whether granting the 
orders of exemption are necessary and appropriate in the public 
interest and consistent with the protection of investors and the 
intended purposes of the Act.
    Applicants for orders under the Advisers Act can include registered 
investment advisers, affiliated persons of registered investment 
advisers, and entities seeking to avoid investment adviser status, 
among others. Commission staff estimates that it receives up to 3 
applications per year submitted under rule 0-4 of the Act seeking 
relief from various provisions of the Advisers Act and, in addition, up 
to 9 applications per year submitted under Advisers Act rule 206(4)-5, 
which addresses certain ``pay to play'' practices and also provides the 
Commission the authority to grant applications seeking relief from 
certain of the rule's restrictions. Although each application typically 
is submitted on behalf of multiple applicants, the applicants in the 
vast majority of cases are related entities and are treated as a single 
respondent for purposes of this analysis. Most of the work of preparing 
an application is performed by outside counsel and, therefore, imposes 
no hourly burden on respondents. The cost outside counsel charges 
applicants depends on the complexity of the issues covered by the 
application and the time required. Based on conversations with 
applicants and attorneys, the cost for applications ranges from 
approximately $12,800 for preparing a well-precedented, routine (or 
otherwise less involved) application to approximately $200,000 to 
prepare a complex or novel application. We estimate that the Commission 
receives 1 of the most time-consuming applications annually, 2 
applications of medium difficulty, and 9 of the least difficult 
applications subject to rule 0-4.\1\ This distribution gives a total 
estimated annual cost burden to applicants of filing all applications 
of $402,200 [(1 x $200,000) + (2 x $43,500) + (9 x $12,800)]. The 
estimate of annual cost burden is made solely for the purposes of the 
Paperwork Reduction Act, and is not derived from a comprehensive or 
even representative survey or study of the costs of Commission rules 
and forms.
---------------------------------------------------------------------------

    \1\ The estimated 9 least difficult applications include the 
estimated 9 applications per year submitted under Advisers Act rule 
206(4)-5.
---------------------------------------------------------------------------

    The requirements of this collection of information are required to 
obtain or retain benefits. Responses will not be kept confidential. 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 send an email to: 
Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson, 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.


[[Page 71778]]


    Dated: October 11, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-25088 Filed 10-17-16; 8:45 am]
 BILLING CODE 8011-01-P
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