Proposed Collection; Comment Request, 64102-64103 [E9-29046]

Download as PDF erowe on DSK5CLS3C1PROD with NOTICES 64102 Federal Register / Vol. 74, No. 233 / Monday, December 7, 2009 / Notices overlapping regulatory reports required by various self-regulatory organizations and the Commission and to reduce reporting burdens as much as possible. The Rule also requires the filing of an annual audited report of financial statements. The FOCUS Report consists of: (1) Part I, which is a monthly report that must be filed by brokers or dealers that clear transactions or carry customer securities; (2) one of three alternative quarterly reports: Part II, which must be filed by brokers or dealers that clear transactions or carry customer securities; Part IIA, which must be filed by brokers or dealers that do not clear transactions or carry customer securities; and Part IIB, which must be filed by specialized broker-dealers registered with the Commission as OTC derivatives dealers; 2 (3) supplemental schedules, which must be filed annually; and (4) a facing page, which must be filed with the annual audited report of financial statements. Under the Rule, a broker or dealer that computes certain of its capital charges in accordance with Appendix E to Exchange Act Rule 15c3–1(17 CFR 240.15c3–1) must file additional monthly, quarterly, and annual reports with the Commission. The variation in the size and complexity of brokers and dealers subject to Rule 17a-5 and the differences in the FOCUS Report forms that must be filed under the Rule make it difficult to calculate the cost of compliance. However, we estimate that, on average, each report will require approximately 12 hours. At year-end 2008, the Commission estimates that there were approximately 5,190 brokers or dealers, and that of those firms there were approximately 530 brokers or dealers that clear transactions or carry customer securities. In addition, approximately 220 firms filed annual reports. The Commission therefore estimates that approximately 530 firms filed monthly reports, approximately 4,400 firms filed quarterly reports, and approximately 220 firms filed annual reports. In addition, approximately 5,190 firms filed annual audited reports. As a result, there were approximately 29,530 total annual responses ((530 × 12) + (4,400 × 4) + 220 + 5,190 = 29,370. This results in an estimated annual burden of 354,360 hours (29,530 annual responses × 12 hours = 354,360). In addition, we estimate that approximately 11 brokers or dealers will elect to use Appendix E to Rule 15c3– 1 to compute certain of their capital charges (as of October 2009, seven brokers or dealers have elected to use Appendix E). We estimate that the average amount of time necessary to prepare and file the additional monthly reports that must be filed by these firms is about 4 hours per month, or approximately 48 hours per year; the average amount of time necessary to prepare and file the additional quarterly reports is about 8 hours per quarter, or approximately 32 hours per year; and the average amount of time necessary to prepare and file the additional supplemental reports with the annual audit required is approximately 40 hours per year. Consequently, we estimate that the total additional annual burden for these 11 brokers or dealers is approximately 1,320 hours ((48 + 32 + 40) × 11 = 1,320). The Commission therefore estimates that the total annual burden under Rule 17a-5 is approximately 353,800 hours (352,440 + 1,320 = 353,760, rounded to 353,800). 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 other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be directed to Charles Boucher, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Dated: November 30, 2009. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–29045 Filed 12–4–09; 8:45 am] BILLING CODE 8011–01–P 2 Part IIB of Form X–17A–5 must be filed by OTC derivatives dealers under Exchange Act Rule 17a– 12 and is subject to a separate PRA filing (OMB Control Number 3235–0498). VerDate Nov<24>2008 14:05 Dec 04, 2009 Jkt 220001 PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Schedule 14D–9F, OMB Control No. 3235– 0382, SEC File No. 270–339. 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 summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Schedule 14D–9F (17 CFR 240.14d103) is used by any foreign private issuer incorporated or organized under the laws of Canada or any Canadian province or territory or by any director or officer of such issuer, where the issuer is the subject of a cash tender or exchange offer for a class of securities filed on Schedule 14D–1F. The information required to be filed with the Commission is intended to permit verification of compliance with the securities law requirements and assures the public availability of such information. Schedule 14D–9F takes approximately 2 hours per response to prepare and is filed by approximately 6 respondents annually for a total reporting burden of 12 hours. Written comments are invited on: (a) Whether this proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by 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. Please direct your written comments to Charles Boucher, Director/CIO, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; E:\FR\FM\07DEN1.SGM 07DEN1 Federal Register / Vol. 74, No. 233 / Monday, December 7, 2009 / Notices or send an e-mail to: PRA_Mailbox@sec.gov. SECURITIES AND EXCHANGE COMMISSION Dated: December 1, 2009. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–29046 Filed 12–4–09; 8:45 am] [Release No. 34–61072; File No. SR–NYSE– 2009–106] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION erowe on DSK5CLS3C1PROD with NOTICES Sunshine Act Meeting 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 will hold a Closed Meeting on Wednesday, December 9, 2009 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (6), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (6), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Aguilar, as duty officer, voted to consider the items listed for the Closed Meeting in a closed session. The subject matter of the Closed Meeting scheduled for Wednesday, December 9, 2009 will be: Institution and settlement of injunctive actions; institution and settlement of administrative proceedings; adjudicatory matters; a collection matter; post argument discussion; and other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: December 2, 2009. Elizabeth M. Murphy, Secretary. [FR Doc. E9–29135 Filed 12–3–09; 11:15 am] BILLING CODE 8011–01–P VerDate Nov<24>2008 14:05 Dec 04, 2009 Jkt 220001 Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval to a Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Amending Rule 70 in Order To Update d-Quote Functionality and Provide for e-Quotes To Peg to the National Best Bid or Offer November 30, 2009. I. Introduction On October 26, 2009, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘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 amend Rule 70 in order to update dQuote functionality and provide for eQuotes to peg to the National best bid or offer. The proposed rule change was published for comment in the Federal Register on November 3, 2009.3 NYSE filed Amendment No. 1 to the proposed rule change on November 19, 2009.4 The Commission received no comment letters on the proposed rule change. This notice and order provides notice of filing of Amendment No. 1 to the proposed rule change, and grants accelerated approval to the proposed rule change, as modified by Amendment No. 1. Description of the Proposed Rule, as Modified by Amendment No. 1 Background 5 Rule 70.25 governs the entry, validation, and execution of bids and offers represented electronically by a Floor broker on the Floor of the Exchange that include discretionary instructions as to size and/or price.6 The discretionary instructions that a Floor 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 60888 (October 27, 2009), 74 FR 56902 (‘‘Notice’’). 4 The text of Amendment No. 1 is available on the Exchange’s Web site (https://www.nyse.com), at the Exchange, and at the Commission’s Public Reference Room. 5 The Notice contains additional discussion and examples regarding the current operation of dQuotes and e-Quotes. See supra note 3. 6 For purposes of these rules, floor broker agency interest files (that is, electronic bids or offers from the Floor) are referred to as ‘‘e-Quotes.’’ E-quotes that include discretionary instructions are referred to a ‘‘d-Quotes.’’ 2 17 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 64103 broker may include with an e-Quote can relate to the price range within which the e-Quote may trade and the number of shares to which the discretionary price instruction applies. D-Quote functionality is available for both displayed and reserve interest. In particular, Rule 70.25(a) provides that d-Quotes are eligible for execution only when they are at or join the existing Exchange BBO, would establish a new Exchange BBO, or at the opening and closing transactions. Under current rules, d-Quotes at or joining the Exchange BBO may be displayed or undisplayed interest. In addition, Rule 70.25(d)(ii) currently provides that, once it has been activated, a d-Quote will automatically execute against a contraside order if the contra-side order’s price is within the discretionary pricing instructions and the contra-side order’s size meets any minimum or maximum size requirements that have been set for the d-Quote. Rule 70.26 provides for the entry, validation, and execution of an e-Quote that remains available for execution at the Exchange BBO as the Exchange BBO moves. Floor brokers are able to designate a range of prices within which their e-Quotes and d-Quotes will peg and, as long as the Exchange BBO is within that range, the e-Quote and dQuote will be included in the quote. Proposed Amendments 7 D-Quotes Active When Their Filed Price is Not at the Exchange BBO The Exchange proposes to amend Rule 70.25(a)(ii) to provide that dQuotes would be active and available to execute whenever incoming interest satisfies the discretionary instructions, without regard to whether the d-Quote’s filed price is or becomes the Exchange BBO. The Exchange also proposes to add clarifying language to Rule 70.25(a)(i) to provide that d-Quotes that exercise discretion would be considered nondisplayable interest for purposes of Rule 72, and to amend Rule 70.25(d)(i) (as proposed Rule 70.25(e)(i)) to provide that a d-Quote with discretionary pricing instructions above the best bid if a buy order or below the best offer if a sell order would seek to secure the largest execution for the d-Quote using the least amount of price discretion to exercise at or above the bid if a buy order or at or below the offer if a sell order. The Exchange proposes to further clarify that a d-Quote with discretionary pricing instructions equal to or less than 7 The Notice contains additional discussion and examples regarding the proposed operation of dQuotes and e-Quotes. See supra note 3. E:\FR\FM\07DEN1.SGM 07DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 74, Number 233 (Monday, December 7, 2009)]
[Notices]
[Pages 64102-64103]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-29046]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Schedule 14D-9F, OMB Control No. 3235-0382, SEC File No. 270-
339.

    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 summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Schedule 14D-9F (17 CFR 240.14d-103) is used by any foreign private 
issuer incorporated or organized under the laws of Canada or any 
Canadian province or territory or by any director or officer of such 
issuer, where the issuer is the subject of a cash tender or exchange 
offer for a class of securities filed on Schedule 14D-1F. The 
information required to be filed with the Commission is intended to 
permit verification of compliance with the securities law requirements 
and assures the public availability of such information. Schedule 14D-
9F takes approximately 2 hours per response to prepare and is filed by 
approximately 6 respondents annually for a total reporting burden of 12 
hours.
    Written comments are invited on: (a) Whether this proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden imposed by 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.
    Please direct your written comments to Charles Boucher, Director/
CIO, Securities and Exchange Commission, C/O Shirley Martinson, 6432 
General Green Way, Alexandria, Virginia 22312;

[[Page 64103]]

or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: December 1, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-29046 Filed 12-4-09; 8:45 am]
BILLING CODE 8011-01-P

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