Submission for OMB Review; Comment Request, 37247-37248 [2013-14719]
Download as PDF
<![CDATA[
Federal Register / Vol. 78, No. 119 / Thursday, June 20, 2013 / Notices
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: June 21,
2013.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
FOR FURTHER INFORMATION CONTACT:
Stephen L. Sharfman, General Counsel,
at 202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Background
III. Contents of Filing
IV. Commission Action
I. Introduction
On June 13, 2013, the Postal Service
filed a notice announcing that it has
entered into an additional Global
Expedited Package Services (GEPS) 3
negotiated service agreement
(Agreement).1 The Postal Service seeks
inclusion of the Agreement within the
GEPS 3 product. Notice at 2.
TKELLEY on DSK3SPTVN1PROD with NOTICES
II. Background
The Commission approved the
addition of GEPS to the competitive
product list as a result of consideration
of Governors’ Decision No. 08–7 in
Docket No. CP2008–5.2 The
Commission later added GEPS 3 to the
competitive product list, and authorized
the agreement filed in Docket No.
CP2010–71 to serve as the baseline
agreement for purposes of considering
the potential functional equivalence of
other agreements.3
The instant Agreement is the
successor to the agreement approved in
Docket No. CP2012–30, and is with the
same customer. Id. at 3. The Agreement
is intended to take effect July 1, 2013,
following the June 30, 2013 expiration
of the current agreement.4 Id. It is set to
expire 1 year after its effective date. Id.
1 Notice of United States Postal Service of Filing
a Functionally Equivalent Global Expedited
Package Services 3 Negotiated Service Agreement
and Application for Non-Public Treatment of
Materials Filed Under Seal, June 13, 2013 (Notice).
2 See Docket No. CP2008–5, Order No. 86, Order
Concerning Global Expedited Package Services
Contracts, June 27, 2008.
3 See Docket Nos. MC2010–28 and CP2010–71,
Order No. 503, Order Approving Global Expedited
Package Services 3 Negotiated Service Agreement,
July 29, 2010.
4 The Commission recently granted a brief
extension of the Docket No. CP2012–30 agreement
VerDate Mar<15>2010
17:01 Jun 19, 2013
Jkt 229001
III. Contents of Filing
The Notice includes the following
attachments:
• Attachment 1—a redacted copy of
the Agreement;
• Attachment 2—a redacted copy of
the certified statement required by 39
CFR 3015.5(c)(2);
• Attachment 3—a redacted copy of
Governors’ Decision No. 08–7, which
establishes prices and classifications for
Global Expedited Package Services
Contracts; and
• Attachment 4—an application for
non-public treatment of materials to be
filed under seal.
Materials filed under seal include
unredacted copies of the Agreement, the
certified statement, and supporting
financial workpapers. Id. The Postal
Service filed redacted versions of the
financial workpapers as public Excel
files.
The Notice addresses reasons why the
Postal Service believes the Agreement is
functionally equivalent to the GEPS 3
baseline agreement, notwithstanding
differences in two of the introductory
(‘‘Whereas’’) paragraphs of the
Agreement; revisions to existing articles;
and new, deleted, and renumbered
articles. Id. at 3–7. The Notice also
identifies the addition of an Annex 2.
Id. at 6. The Postal Service states that
these differences do not affect either the
fundamental service being offered under
the Agreement or its fundamental
structure. Id. at 7.
The Postal Service states that for the
reasons discussed in the Notice and as
demonstrated by the financial data filed
under seal, it has established that the
Agreement is in compliance with the
requirements of 39 U.S.C. 3633 and that
the Agreement is functionally
equivalent to Docket No. CP2010–71. Id.
The Postal Service therefore asks that
the Commission add the Agreement to
the GEPS 3 product. Id.
III. Commission Action
The Commission establishes Docket
No. CP2013–67 for consideration of
matters raised by the Notice. Interested
persons may submit comments on
whether the Agreement is consistent
with the policies of 39 U.S.C. 3632,
3633, or 3642. Comments are due no
later than June 21, 2013. The public
portions of the Postal Service’s filing
can be accessed via the Commission’s
Web site, https://www.prc.gov.
Information on how to obtain access to
(from June 10, 2013 to June 30, 2013). The
extension was based on the understanding a
successor agreement would be filed. See Docket No.
CP2012–30, Order No. 1731, Order Granting Motion
for Temporary Relief, May 24, 2013.
PO 00000
Frm 00049
Fmt 4703
Sfmt 4703
37247
non-public material is appears at 39
CFR part 3007.
The Commission appoints Curtis E.
Kidd to serve as Public Representative
in Docket No. CP2013–67.
It is ordered:
1. The Commission establishes Docket
No. CP2013–67 for consideration of
matters raised in the Postal Service’s
Notice.
2. Comments by interested persons in
these proceedings are due no later than
June 21, 2013.
3. Pursuant to 39 U.S.C. 505, Curtis E.
Kidd is appointed to serve as an officer
of the Commission (Public
Representative) to represent the
interests of the general public in Docket
No. CP2013–67.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2013–14681 Filed 6–19–13; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 15c3–1, SEC File No. 270–197, OMB
Control No. 3235–0200.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), 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 15c3–1 (17 CFR 240.15c3–1) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 15c3–1 requires brokers-dealers
to have at all times sufficient liquid
assets to meet their current liabilities,
particularly the claims of customers.
The rule facilitates the monitoring of the
financial condition of broker-dealers by
the Commission and the various selfregulatory organizations. It is estimated
that broker-dealer respondents
registered with the Commission and
subject to the collection of information
requirements of Rule 15c3–1 incur an
aggregate annual burden of 58,926 hours
E:\FR\FM\20JNN1.SGM
20JNN1
37248
Federal Register / Vol. 78, No. 119 / Thursday, June 20, 2013 / Notices
to comply with this rule and an
aggregate annual external cost of
$160,000.
Rule 15c3–1 does not contain record
retention requirements. Compliance
with the rule is mandatory. The
required records are available only to
the examination staff of the Commission
and the self-regulatory organization of
which the broker-dealer is a member.
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 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)
Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312 or send an email
to: PRA_Mailbox@sec.gov. Comments
must be submitted to OMB within 30
days of this notice.
Dated: June 17, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–14719 Filed 6–19–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69767; File No. SR–OCC–
2013–802]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of No Objection to Advance Notice
Filing To Change the Expiration Date
For Most Option Contracts to the Third
Friday of the Expiration Month Instead
of the Saturday Following the Third
Friday
June 14, 2013.
TKELLEY on DSK3SPTVN1PROD with NOTICES
I. Introduction
On April 17, 2013, The Options
Clearing Corporation (‘‘OCC’’) 1 filed
1 OCC was designated as a systemically important
financial market utility (‘‘FMU’’) by the Financial
Stability Oversight Council (‘‘FSOC’’) on July 18,
2012. See FSOC 2012 Annual Report, Appendix A,
https://www.treasury.gov/initiatives/fsoc/
Documents/2012%20Annual%20Report.pdf.
Therefore, OCC is required to comply with Title
VerDate Mar<15>2010
17:01 Jun 19, 2013
Jkt 229001
with the Securities and Exchange
Commission (‘‘Commission’’) advance
notice SR–OCC–2013–802 pursuant to
Section 806(e) of Title VIII of the DoddFrank Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’),2
entitled the Payment, Clearing, and
Settlement Supervision Act of 2010
(‘‘Title VIII’’ or ‘‘Clearing Supervision
Act’’).3 The advance notice was
published in the Federal Register on
May 23, 2013.4 The Commission
received one comment letter to the
Advance Notice, in which the
commenter expressed support for the
change.5 This publication serves as a
notice of no objection to the advance
notice.
II. Description of Proposed Rule Change
Proposal
OCC filed this advance notice to
change the expiration date for most
option contracts (‘‘Standard Expiration
Contracts’’) to the third Friday of the
specified expiration month (‘‘Expiration
Date’’). Standard Expiration Contracts
currently expire at the ‘‘expiration time’’
(11:59 p.m. Eastern Time) on the
Saturday following the third Friday of
the specified expiration month
(‘‘Expiration Date’’).6
The proposed change applies only to
series of option contracts opened for
trading after the effective date of this
proposed rule change and having
Expiration Dates later than February 1,
2015. Option contracts having nonstandard expiration dates (‘‘Nonstandard Expiration Contracts’’) are
unaffected by this proposed rule
change.7
In order to provide a smooth
transition to the Friday expiration, OCC
VIII of the Dodd-Frank Wall Street Reform and
Consumer Protection Act.
2 Dodd-Frank Wall Street Reform and Consumer
Protection Act, Pub. L. 111–203, 124 Stat. 1376
(2010).
3 OCC also filed the proposals contained in this
advance notice as a proposed rule change, under
Section 19(b)(1) of the Exchange Act and Rule 19b–
4 thereunder, seeking Commission approval to
permit OCC to change its rules to reflect the
proposed changes in this advance notice. 15 U.S.C.
78s(b)(1); 17 CFR 240.19b–4; See Exchange Act
Release No. 69480 (April 30, 2013) (SR–OCC–2013–
04).
4 Securities Exchange Act Release No. 34–69603
(May 17, 2013), 78 FR 30944 (May 23, 2013)
(‘‘Notice of Filing of Advance Notice’’).
5 See Comment from John V. Bruzzese dated May
3, 2013 (stating that the change would be
‘‘beneficial for [the] option expiration process’’)
(https://sec.gov/comments/sr-occ-2013-04/
occ201304-1.htm).
6 See the definition of ‘‘expiration time’’ in
Article I of OCC’s By-Laws.
7 Examples of options with Non-standard
Expiration Contracts include flex options and
quarterly, monthly, and weekly options where the
expiration exercise processing for such options
presently occurs on a weekday.
PO 00000
Frm 00050
Fmt 4703
Sfmt 4703
intends to, beginning June 21, 2013,
move the expiration exercise procedures
to Friday for all Standard Expiration
Contracts even though the contracts
would continue to expire on Saturday.8
After February 1, 2015, virtually all
Standard Expiration Contracts will
expire on Friday. According to OCC, the
only Standard Expiration Contracts that
will expire on a Saturday after February
1, 2015 are certain options that were
listed prior to the effectiveness of this
rule change,9 and a limited number of
options that may be listed prior to
necessary systems changes of the
options exchanges, which are expected
to be completed in August 2013.10 After
the transition period and the expiration
of all existing Saturday-expiring
options, expiration processing should be
a single operational process and should
run on Friday night for all Standard
Expiration Contracts.
In connection with moving from
Saturday to Friday night processing and
expiration, OCC reviewed other aspects
of its business to confirm that there
would be no unintended consequences,
and concluded that there would be
none. For example, OCC believes the
proposed changes do not affect OCC’s
liquidity forecasting procedures, nor do
they impact OCC’s liquidity needs,
since OCC’s liquidity forecasts and
liquidity needs are driven by settlement
obligations, which occur on the same
day (T+3) irrespective of the move to
Friday night processing and expiration
dates. According to OCC, industry
groups, clearing members, and options
exchanges have been active participants
in planning for the transition to the
Friday expiration. OCC has obtained
8 For contracts having a Saturday expiration date,
exercise requests received after Friday expiration
processing is complete but before the Saturday
contract expiration time will continue to be
processed so long as they are submitted in
accordance with OCC’s procedures governing such
requests.
9 According to OCC, certain option contracts have
already been listed on exchanges with expiration
dates as distant as December 2016. Such options
have Saturday expiration dates and OCC cannot
change the terms of existing option contracts. In
addition, clearing members have expressed a clear
preference not to have open interest in any
particular month with different expiration dates.
Therefore, OCC will designate certain expiration
dates as ‘‘grandfathered,’’ and any option contract
that is listed, or may be listed in the future, that
expires on a grandfathered date will have a
Saturday expiration date even if such expiration
date is after February 1, 2015. After OCC designates
an expiration date as grandfathered, the exchanges
have agreed not to permit the listing of, and OCC
will not accept for clearance, any newly listed
standard expiration option contract with a Friday
expiration in the applicable month.
10 The exchanges have agreed that once these
systems changes are made they will not open for
trading any new series of option contracts with
Saturday expiration dates falling after February 1,
2015.
E:\FR\FM\20JNN1.SGM
20JNN1
]]>Agencies
[Federal Register Volume 78, Number 119 (Thursday, June 20, 2013)]
[Notices]
[Pages 37247-37248]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14719]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 15c3-1, SEC File No. 270-197, OMB Control No. 3235-0200.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), 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
15c3-1 (17 CFR 240.15c3-1) under the Securities Exchange Act of 1934
(15 U.S.C. 78a et seq.).
Rule 15c3-1 requires brokers-dealers to have at all times
sufficient liquid assets to meet their current liabilities,
particularly the claims of customers. The rule facilitates the
monitoring of the financial condition of broker-dealers by the
Commission and the various self-regulatory organizations. It is
estimated that broker-dealer respondents registered with the Commission
and subject to the collection of information requirements of Rule 15c3-
1 incur an aggregate annual burden of 58,926 hours
[[Page 37248]]
to comply with this rule and an aggregate annual external cost of
$160,000.
Rule 15c3-1 does not contain record retention requirements.
Compliance with the rule is mandatory. The required records are
available only to the examination staff of the Commission and the self-
regulatory organization of which the broker-dealer is a member.
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 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) Thomas Bayer, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon,
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of
this notice.
Dated: June 17, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-14719 Filed 6-19-13; 8:45 am]
BILLING CODE 8011-01-P
