Proposed Collection; Comment Request, 46336-46337 [2011-19458]

Download as PDF 46336 Federal Register / Vol. 76, No. 148 / Tuesday, August 2, 2011 / Notices Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: July 27, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–19457 Filed 8–1–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. erowe on DSK5CLS3C1PROD with NOTICES Extension: Rule 17Ad–17; OMB Control No. 3235– 0469; SEC File No. 270–412. 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. • Rule 17Ad–17 Transfer Agents’ Obligation to Search for Lost Securityholders. • Rule 17Ad–17 Brokers and Dealers’ Obligation to Search for Lost Securityholders. • Rule 17Ad–17 Paying Agents’ Obligation to Notify Missing Securityholders. Rule 17Ad–17 (17 CFR 240.17Ad–17) requires approximately 508 registered transfer agents and approximately 5,063 broker-dealers to conduct searches using third party database vendors to attempt to locate lost securityholders. These recordkeeping requirements assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rule. The staff estimates that the average number of hours necessary for each transfer agent to comply with Rule 17Ad–17 is ten hours annually. The total burden is approximately 5,080 hours annually for all transfer agents (508 transfer agents times 10 hours). The cost of compliance for each individual transfer agent depends on the number of lost securityholder accounts for which it is responsible. Based on information received from transfer agents, we VerDate Mar<15>2010 15:03 Aug 01, 2011 Jkt 223001 estimate that the annual cost industrywide for transfer agents is $5.08 million (5,080 hours times $100). The staff estimates that the average number of hours necessary for each broker and dealer to comply with Rule 17Ad–17 is 98.8 hours annually (500,000 searches divided by 5,063 brokers and dealers). The cost of compliance for each broker and dealer will depend on the number of lost securityholder accounts for which it is responsible. The staff estimates that the annual cost industrywide for brokers and dealers is $9.88 million (98.8 hours times $100). The staff estimates that the average number of hours necessary for each paying agent to comply with Rule 17Ad–17 is 50 hours annually. The total burden is approximately 5,000 hours annually for all paying agents (1,000 paying agents times 50 hours). The cost of compliance for each individual paying agent depends on the number of missing securityholder accounts for which it is responsible. The staff estimates that the annual cost industrywide for paying agents is $500,000 (5,000 hours times $100). 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 estimates 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: Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Dated: July 28, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–19531 Filed 8–1–11; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00070 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 20549–0123. Extension: Form 4 ; OMB Control No. 3235–0287; SEC File No. 270–126. 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. Under Section 16(a) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et seq.) every person who is directly or indirectly the beneficial owner of more than 10 percent of any class of any equity security (other than an exempted security) which registered under Section 12 of the Exchange Act (15 U.S.C. 78l), or who is a director or an officer of the issuer of such security (collectively ‘‘insiders’’), must file a statement with the Commission reporting their ownership. Form 4 is a statement to disclose changes in an insiders ownership of securities. The information is used for the purpose of disclosing the equity holdings of insiders of reporting companies. Approximately 225,000 insiders file Form 4 annually and it takes approximately 0.5 hours to prepare for a total of 112,500 annual burden hours. Written comments are invited on: (a) Whether this proposed collections 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 collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collections 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 Thomas Bayer, Director/Chief E:\FR\FM\02AUN1.SGM 02AUN1 Federal Register / Vol. 76, No. 148 / Tuesday, August 2, 2011 / Notices Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: PRA_Mailbox@sec.gov. SECURITIES AND EXCHANGE COMMISSION Dated: July 27, 2011. Elizabeth M. Murphy, Secretary. Self-Regulatory Organizations; NASDAQ OMX BX; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Increase the Position Limit for Options on the SPDR® [FR Doc. 2011–19458 Filed 8–1–11; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–64977; File No. SR–BX– 2011–044] July 27, 2011. 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 Tuesday, August 2, 2011 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)(5), (7), 9(B) and (10) and 17 CFR 200.402(a)((5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the Closed Meeting in a closed session, and determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for Tuesday, August 2, 2011 will be: Settlement of injunctive actions; Institution and settlement of administrative proceedings; 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: July 29, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–19648 Filed 7–29–11; 4:15 pm] BILLING CODE 8011–01–P VerDate Mar<15>2010 15:03 Aug 01, 2011 Jkt 223001 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 July 13, 2011, NASDAQ OMX BX (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 Exchange has designated the proposed rule change as constituting a non-controversial rule change under Rule 19b–4(f)(6) under the Act,3 which renders the proposal effective upon filing with the Commission. 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 the Substance of the Proposed Rule Change The Exchange proposes to amend Chapter III, Section 7 (Position Limits) of the Rules of the Boston Options Exchange Group, LLC (‘‘BOX’’) to increase the position limit for options on the Standard and Poor’s Depositary Receipts (‘‘SPDRs® ’’).4 Although the proposed rule change would not amend the text of Chapter III, Section 9 of the BOX Rules (Exercise Limits), the proposed change would have the effect of increasing the exercise limits for options on SPDRs®. Chapter III, Section 9 of the BOX Rules establishes exercise limits that are similar to the position limits in Chapter III, Section 7 of the BOX Rules.5 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). 4 ‘‘SPDRs® ’’, ‘‘Standard & Poor’s® ’’, ‘‘S&P® ’’, ‘‘S&P 500® ’’, ‘‘Standard & Poor’s 500’’, and ‘‘500’’ are trademarks of The McGraw-Hill Companies, Inc. SPDRs®, also sometimes referred to colloquially as ‘‘spiders’’, are exchange traded funds (‘‘ETFs’’) based on the S&P 500® Index. Each share of the traditional SPDRs® ETF (SPDRs® Trust Series 1) holds a stake in the 500 stocks represented by the S&P 500®, SPDRs®, and options thereon, are generally used by large institutions and traders as bets on the overall direction of the market. They are also used by individual retail investors who believe in passive management (index investing). 5 Index options position limits are established in Chapter XIV, Sections 5 and 6 of the BOX Rules and 2 17 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 46337 The text of the proposed rule change is available at the Exchange’s Web site at https://www.nyse.com, on the Commission’s Web site at https:// www.sec.gov, 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 Exchange 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 in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposal is to amend Supplementary Material .02 to Chapter III, Section 7 of the BOX Rules to increase the position limit applicable to options on SPDRs®, which are trading under the symbol SPY, from 300,000 to 900,000 contracts on the same side of the market.6 This proposal is similar to a rule change recently proposed by the NASDAQ OMX PHLX, Inc. (‘‘PHLX’’).7 BOX began trading options on SPDRs® on January 10, 2005. That year, the position limit for these options was increased to the current limit of 300,000 contracts on the same side of the market, and has remained unchanged.8 index options exercise limits are established in Chapter XIV, Section 8 of the BOX Rules, and have a relationship similar to that of Chapter III, Section 9 and Chapter III, Section 7 of the BOX Rules. 6 By virtue of Chapter III, Section 9 of the BOX Rules, which is not amended by this filing, exercise limits on options on SPDRs® would be similar to position limits established in Chapter III, Section 7 of the BOX Rules. 7 See Securities Exchange Act Release No. 64348 (April 27, 2011), 76 FR 24951 (May 3, 2011) (SR– Phlx–2011–58). See also Securities Exchange Act Release No. 64695 (June, 17, 2011), 76 FR 36942 (June 23, 2011) (SR–Phlx–2011–58). 8 See Securities Exchange Act Release No. 51069 (January 21, 2005), 70 FR 5260 (February 1, 2005) (SR–BSE–2005–05) (approval order increasing position and exercise limits for options on SPDRs® from 75,000 to 300,000 contracts on the same side of the market) (the ‘‘last position increase order’’). See also Securities Exchange Act Release Nos. 51071 (January 21, 2005), 70 FR 4911 (January 31, 2005) (SR–Phlx-2005–05) (approval order); 51043 (January 14, 2005), 70 FR 3402 (January 24, 2005) (SR–Amex-2005–06) (approval order); 51041 E:\FR\FM\02AUN1.SGM Continued 02AUN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 76, Number 148 (Tuesday, August 2, 2011)]
[Notices]
[Pages 46336-46337]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-19458]


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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 
20549-0123.

Extension:
    Form 4 ; OMB Control No. 3235-0287; SEC File No. 270-126.

    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.
    Under Section 16(a) of the Securities Exchange Act of 1934 
(``Exchange Act'') (15 U.S.C. 78a et seq.) every person who is directly 
or indirectly the beneficial owner of more than 10 percent of any class 
of any equity security (other than an exempted security) which 
registered under Section 12 of the Exchange Act (15 U.S.C. 78l), or who 
is a director or an officer of the issuer of such security 
(collectively ``insiders''), must file a statement with the Commission 
reporting their ownership. Form 4 is a statement to disclose changes in 
an insiders ownership of securities. The information is used for the 
purpose of disclosing the equity holdings of insiders of reporting 
companies. Approximately 225,000 insiders file Form 4 annually and it 
takes approximately 0.5 hours to prepare for a total of 112,500 annual 
burden hours.
    Written comments are invited on: (a) Whether this proposed 
collections 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 collections of information; (c) ways to 
enhance the quality, utility, and clarity of the information collected; 
and (d) ways to minimize the burden of the collections 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 Thomas Bayer, Director/Chief

[[Page 46337]]

Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312; or 
send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: July 27, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-19458 Filed 8-1-11; 8:45 am]
BILLING CODE 8011-01-P

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