Submission for OMB Review; Comment Request, 37247-37248 [2013-14719]

Download as PDF 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

SECURITIES AND EXCHANGE COMMISSION

[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]


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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

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