Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 11.25, Retail Order Attribution Program, 67820 [C1-2015-27221]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES 67820 Federal Register / Vol. 80, No. 212 / Tuesday, November 3, 2015 / Notices that is registered with and subject to regular inspection by the Public Company Accounting Oversight Board (‘‘PCAOB’’).5 The rule exempts advisers from the rule with respect to clients that are registered investment companies. Advisers to limited partnerships, limited liability companies and other pooled investment vehicles are excepted from the account statement delivery and deemed to comply with the annual surprise examination requirement if the limited partnerships, limited liability companies or pooled investment vehicles are subject to annual audit by an independent public accountant registered with, and subject to regular inspection by the PCAOB, and the audited financial statements are distributed to investors in the pools.6 The rule also provides an exception to the surprise examination requirement for advisers that have custody because they have authority to deduct advisory fees from client accounts and advisers that have custody solely because a related person holds the adviser’s client assets and the related person is operationally independent of the adviser.7 Advisory clients use this information to confirm proper handling of their accounts. The Commission’s staff uses the information obtained through this collection in its enforcement, regulatory and examination programs. Without the information collected under the rule, the Commission would be less efficient and effective in its programs and clients would not have information valuable for monitoring an adviser’s handling of their accounts. The respondents to this information collection are investment advisers registered with the Commission and have custody of clients’ funds or securities. We estimate that 5,228 advisers would be subject to the information collection burden under rule 206(4)–2. The number of responses under rule 206(4)–2 will vary considerably depending on the number of clients for which an adviser has custody of funds or securities, and the number of investors in pooled investment vehicles that the adviser manages. It is estimated that the average number of responses annually for each respondent would be 6,830, and an average time of 0.02286 hour per response. The annual aggregate burden for all respondents to the requirements of rule 206(4)–2 is estimated to be 816,285 hours. 5 Rule 206(4)–2(a)(6). 206(4)–2(b)(4). 7 Rule 206(4)–2(b)(3), (b)(6). 18:04 Nov 02, 2015 Dated: October 28, 2015. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–27915 Filed 11–2–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76205; File No. SR–BATS– 2015–90] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 11.25, Retail Order Attribution Program October 21, 2015. Correction In notice document 2015–27221, appearing on pages 65828–65830 in the issue of Tuesday, October 27, 2015, make the following correction: On page 65830, in the second column, in the eighth line from the bottom, ‘‘November 16, 2015’’ should read ‘‘November 17, 2015’’. [FR Doc. C1–2015–27221 Filed 11–2–15; 8:45 am] 6 Rule VerDate Sep<11>2014 The estimated average burden hours are made solely for purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. 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. Please direct your written comments to Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, C/O Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email to: PRA_Mailbox@sec.gov. BILLING CODE 1505–01–D Jkt 238001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 15c3–4; SEC File No. 270– 441, OMB Control No. 3235–0497. 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’’) is soliciting comments on the collection of information provided for in Rule 15c3–4 (17 CFR 240.15c3–4) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 15c3–4 requires certain brokerdealers that are registered with the Commission as OTC derivatives dealers, or who compute their net capital charges under Appendix E to Rule 15c3–1 (17 CFR 240.15c3–1) (‘‘ANC firms’’), to establish, document, and maintain a system of internal risk management controls. The Rule sets forth the basic elements for an OTC derivatives dealer or an ANC firm to consider and include when establishing, documenting, and reviewing its internal risk management control system, which are designed to, among other things, ensure the integrity of an OTC derivatives dealer’s or an ANC firm’s risk measurement, monitoring, and management process, to clarify accountability at the appropriate organizational level, and to define the permitted scope of the dealer’s activities and level of risk. The Rule also requires that management of an OTC derivatives dealer or an ANC firm must periodically review, in accordance with written procedures, the firm’s business activities for consistency with its risk management guidelines. The staff estimates that the average amount of time a new OTC derivatives dealer will spend establishing and documenting its risk management control system is 2,000 hours and that, on average, a registered OTC derivatives dealer will spend approximately 200 hours each year to maintain (e.g., reviewing and updating) its risk management control system.1 Currently, 1 This notice does not cover the hour burden associated with ANC firms, because the hour burden for ANC firms is included in the Paperwork E:\FR\FM\03NON1.SGM 03NON1

Agencies

[Federal Register Volume 80, Number 212 (Tuesday, November 3, 2015)]
[Notices]
[Page 67820]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: C1-2015-27221]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76205; File No. SR-BATS- 2015-90]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend 
Rule 11.25, Retail Order Attribution Program

October 21, 2015.

Correction

    In notice document 2015-27221, appearing on pages 65828-65830 in 
the issue of Tuesday, October 27, 2015, make the following correction:
    On page 65830, in the second column, in the eighth line from the 
bottom, ``November 16, 2015'' should read ``November 17, 2015''.

[FR Doc. C1-2015-27221 Filed 11-2-15; 8:45 am]
 BILLING CODE 1505-01-D
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.