Submission for OMB Review; Comment Request, 14217 [2010-6506]

Download as PDF Federal Register / Vol. 75, No. 56 / Wednesday, March 24, 2010 / Notices Dated: March 17, 2010. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–6505 Filed 3–23–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION srobinson on DSKHWCL6B1PROD with NOTICES Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17a–12, SEC File No. 270–442, OMB Control No. 3235–0498. 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 a request for approval of extension of the previously approved collection provided for in Rule 17a–12 (17 CFR 240.17a–12) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule17a–12 under the Exchange Act requires OTC derivatives dealers to file quarterly Financial and Operational Combined Uniform Single Reports (‘‘FOCUS’’ reports) on Part IIB of Form X–17A–5,1 the basic document for reporting the financial and operational condition of OTC derivatives dealers. Rule 17a–12 also requires that OTC derivatives dealers file audited financial statements annually. The reports required under Rule 17a–12 provide the Commission with information used to monitor the operations of OTC derivatives dealers and to enforce their compliance with the Commission’s rules. These reports also enable the Commission to review the business activities of OTC derivatives dealers and to anticipate, where possible, how these dealers may be affected by significant economic events. The staff estimates that the average amount of time necessary to prepare and file the information required by Rule 17a–12 is 180 hours per OTC derivatives dealer annually—an average of twenty hours preparing each of four quarterly reports and an additional 100 hours for the annual audit. Four entities are presently registered as OTC derivatives dealers and the staff expects that one additional OTC derivatives dealer, with an application pending, will become registered within the next three years. Thus the total burden is estimated to be 900 hours annually ((180 × 4) + (180 × 1)). 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) Charles Boucher, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: March 17, 2010. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–6506 Filed 3–23–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61727; File No. SR– NYSEArca–2010–13] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Accommodate Cabinet Trades That Take Place Below $1 Per Option Contract Until July 1, 2010 March 17, 2010. 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 March 3, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to adopt Commentary .01 to Rule 6.80, Accommodation Transactions (Cabinet Trades), to permit transactions to take place at a price that is below $1 per X–17A–5 (17 CFR 249.617). VerDate Nov<24>2008 16:24 Mar 23, 2010 Jkt 220001 U.S.C.78s(b)(1). 2 17 CFR 240.19b–4. PO 00000 Frm 00095 Fmt 4703 option contract. The text of the proposed rule change is attached as Exhibit 5 to the 19b–4 form. A copy of this filing is available on the Exchange’s Web site at https://www.nyse.com, at the Exchange’s principal office 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, the self-regulatory organization 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this filing is to allow accommodation transactions (‘‘Cabinet Trades’’) to take place at a price that is below $1 per option contract. The Exchange proposes to adopt a rule based on CBOE Rule 6.54, Interpretations and Policies .03.3 Cabinet trading is generally conducted in accordance with the Exchange Rules, except as provided in Exchange Rule 6.80 Accommodation Transactions (Cabinet Trades), which sets forth specific procedures for engaging in cabinet trades. Rule 6.80 currently provides for cabinet transactions to occur via open outcry at a cabinet price of a $1 per option contract in any options series open for trading in the Exchange, except that the Rule is not applicable to trading in option classes participating in the Penny Pilot Program. Under the procedures, bids and offers (whether opening or closing a position) at a price of $1 per option contract may be represented in the trading crowd by a Floor Broker or by a Market-Maker or provided in response to a request by a Trading Official, a Floor Broker or a Market-Maker, but must yield priority to all resting orders in the Cabinet (those orders held by the Trading Official, and which resting cabinet orders may be closing only). So long as both the buyer and the seller yield to orders resting in 3 See Securities Exchange Act Release No. 59188 (December 30, 2008), 74 FR 480 (January 6, 2009)(SR–CBOE–2008–133). 1 15 1 Form 14217 Sfmt 4703 E:\FR\FM\24MRN1.SGM 24MRN1

Agencies

[Federal Register Volume 75, Number 56 (Wednesday, March 24, 2010)]
[Notices]
[Page 14217]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-6506]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Extension:
    Rule 17a-12, SEC File No. 270-442, OMB Control No. 3235-0498.

    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 a request for approval of extension of the previously 
approved collection provided for in Rule 17a-12 (17 CFR 240.17a-12) 
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Exchange Act'').
    Rule17a-12 under the Exchange Act requires OTC derivatives dealers 
to file quarterly Financial and Operational Combined Uniform Single 
Reports (``FOCUS'' reports) on Part IIB of Form X-17A-5,\1\ the basic 
document for reporting the financial and operational condition of OTC 
derivatives dealers. Rule 17a-12 also requires that OTC derivatives 
dealers file audited financial statements annually. The reports 
required under Rule 17a-12 provide the Commission with information used 
to monitor the operations of OTC derivatives dealers and to enforce 
their compliance with the Commission's rules. These reports also enable 
the Commission to review the business activities of OTC derivatives 
dealers and to anticipate, where possible, how these dealers may be 
affected by significant economic events.
---------------------------------------------------------------------------

    \1\ Form X-17A-5 (17 CFR 249.617).
---------------------------------------------------------------------------

    The staff estimates that the average amount of time necessary to 
prepare and file the information required by Rule 17a-12 is 180 hours 
per OTC derivatives dealer annually--an average of twenty hours 
preparing each of four quarterly reports and an additional 100 hours 
for the annual audit. Four entities are presently registered as OTC 
derivatives dealers and the staff expects that one additional OTC 
derivatives dealer, with an application pending, will become registered 
within the next three years. Thus the total burden is estimated to be 
900 hours annually ((180 x 4) + (180 x 1)).
    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) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Shirley Martinson, 
6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6506 Filed 3-23-10; 8:45 am]
BILLING CODE 8011-01-P
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