Proposed Collection; Comment Request, 10691-10692 [2016-04348]

Download as PDF asabaliauskas on DSK5VPTVN1PROD with NOTICES Federal Register / Vol. 81, No. 40 / Tuesday, March 1, 2016 / Notices (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 10b–10 (17 CFR 240.10b–10) under the Securities and 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 10b–10 requires broker-dealers to convey specified information to customers regarding their securities transactions. This information includes the date and time of the transaction, the identity and number of shares bought or sold, and whether the broker-dealer acts as agent for the customer or as principal for its own account. Depending on whether the broker-dealer acts as agent or principal, Rule 10b–10 requires the disclosure of commissions, as well as mark-up and mark-down information. For transactions in debt securities, Rule 10b–10 requires the disclosure of redemption and yield information. Rule 10b–10 potentially applies to all of the approximately 4,183 firms registered with the Commission that effect transactions for or with customers. Based on information provided by registered broker-dealers to the Commission in FOCUS Reports, the Commission staff estimates that on average, registered broker-dealers process approximately 1,383,492,184 order tickets per month for transactions for or with customers. Each order ticket representing a transaction effected for or with a customer results in one confirmation. Therefore, the Commission staff estimates that approximately 16,601,906,208 confirmations are sent to customers annually. The confirmations required by Rule 10b–10 are generally processed through automated systems. It takes approximately 30 seconds to generate and send a confirmation. Accordingly, the Commission staff estimates that broker-dealers spend approximately 138,349,218 hours per year complying with Rule 10b–10. The amount of confirmations sent and the cost of sending each confirmation varies from firm to firm. Smaller firms generally send fewer confirmations than larger firms because they effect fewer transactions. The Commission staff estimates the costs of producing and sending a paper confirmation, including postage, to be approximately 57 cents. The Commission staff also estimates that the cost of producing and sending a wholly electronic confirmation is approximately 39 cents. Based on informal discussions with industry participants, as well as representations made in requests for exemptive and noaction letters relating to Rule 10b–10, VerDate Sep<11>2014 20:18 Feb 29, 2016 Jkt 238001 the staff estimates that broker-dealers used electronic confirmations for approximately 35 percent of transactions. Based on these calculations, Commission staff estimates that 10,791,239,035 paper confirmations are mailed each year at a cost of $6,151,006,250. Commission staff also estimates that 5,810,667,173 wholly electronic confirmations are sent each year at a cost of $2,266,160,197. Accordingly, Commission staff estimates that the total annual cost associated with generating and delivering to investors the information required under Rule 10b–10 would be $8,417,166,447. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information subject to the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: February 24, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–04350 Filed 2–29–16; 8:45 am] BILLING CODE 8011–01–P 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: PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 10691 Rule 19b–4(e) and Form 19b–4(e); SEC File No. 270–447, OMB Control No. 3235– 0504. 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 existing collection of information provided for in Rule 19b–4(e) (17 CFR 240.19b–4(e)) under the Securities Exchange Act of 1934 (15 U.S.C 78a et seq.) (the ‘‘Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 19b–4(e) permits a selfregulatory organization (‘‘SRO’’) to list and trade a new derivative securities product without submitting a proposed rule change pursuant to Section 19(b) of the Act (15 U.S.C. 78s(b)), so long as such product meets the criteria of Rule 19b–4(e) under the Act. However, in order for the Commission to maintain an accurate record of all new derivative securities products traded on the SROs, Rule 19b–4(e) requires an SRO to file a summary form, Form 19b–4(e), to notify the Commission when the SRO begins trading a new derivative securities product that is not required to be submitted as a proposed rule change to the Commission. Form 19b–4(e) should be submitted within five business days after an SRO begins trading a new derivative securities product that is not required to be submitted as a proposed rule change. In addition, Rule 19b–4(e) requires an SRO to maintain, on-site, a copy of Form 19b–4(e) for a prescribed period of time. This collection of information is designed to allow the Commission to maintain an accurate record of all new derivative securities products traded on the SROs that are not deemed to be proposed rule changes and to determine whether an SRO has properly availed itself of the permission granted by Rule 19b–4(e). The Commission reviews SRO compliance with Rule 19b–4(e) through its routine inspections of the SROs. The respondents to the collection of information are SROs (as defined by the Act), all of which are national securities exchanges. As of January 2016, there are eighteen entities registered as national securities exchanges with the Commission. The Commission receives an average total of 2,088 responses per year, which corresponds to an estimated annual response burden of 2,088 hours. At an average hourly cost of $64, the aggregate related internal cost of compliance with Rule 19b–4(e) is $133,632 (2,088 burden hours multiplied by $64/hour). E:\FR\FM\01MRN1.SGM 01MRN1 10692 Federal Register / Vol. 81, No. 40 / Tuesday, March 1, 2016 / Notices Compliance with Rule 19b–4(e) is mandatory. Information received in response to Rule 19b–4(e) shall not be kept confidential; the information collected is public information. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information 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. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: February 24, 2016. Robert W. Errett, Deputy Secretary. SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting asabaliauskas on DSK5VPTVN1PROD with NOTICES [FR Doc. 2016–04528 Filed 2–26–16; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 32005; 812–14540] LoCorr Fund Management, LLC and LoCorr Investment Trust; Notice of Application Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from section 15(a) of the Act and rule 18f–2 under the Act, as well as from certain disclosure requirements in rule 20a–1 under the Act, Item 19(a)(3) of Form N–1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A under the Securities Exchange Act of 1934, and Sections 6–07(2)(a), (b), and (c) of Regulation S– X (‘‘Disclosure Requirements’’). The requested exemption would permit an investment adviser to hire and replace certain sub-advisers without shareholder approval and grant relief from the Disclosure Requirements as they relate to fees paid to the subadvisers.1 AGENCY: BILLING CODE 8011–01–P 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 Thursday, March 3, 2016 at 2:00 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 her designee, has certified that, in her opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matter at the Closed Meeting. 20:18 Feb 29, 2016 Dated: February 25, 2016. Brent J. Fields, Secretary. February 24, 2016. [FR Doc. 2016–04348 Filed 2–29–16; 8:45 am] VerDate Sep<11>2014 Chair White, as duty officer, voted to consider the items listed for the Closed Meeting in closed session. The subject matter of the Closed Meeting will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; Opinion; Adjudicatory matters; Resolution of litigation claims; 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. Jkt 238001 1 The requested order would supersede an exemptive order issued to the Applicants on Sept. 11, 2012 (the ‘‘Prior Order’’), with the result that no person will continue to rely on the Prior Order if the requested order is granted. See LoCorr Fund Management, LLC and LoCorr Investment Trust, Investment Company Act Release Nos. 30168 (Aug. PO 00000 Frm 00128 Fmt 4703 Sfmt 4703 LoCorr Investment Trust (the ‘‘Trust’’), an Ohio business trust registered under the Act as an open-end management investment company with multiple series, and LoCorr Fund Management, LLC, a Minnesota limited liability company registered as an investment adviser under the Investment Advisers Act of 1940 (‘‘LoCorr’’ or the ‘‘Adviser,’’ and, collectively with the Trust, the ‘‘Applicants’’). APPLICANTS: The application was filed August 28, 2015, and amended on December 29, 2015 and January 16, 2016. FILING DATES: HEARING OR NOTIFICATION OF HEARING: An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on March 21, 2016, and should be accompanied by proof of service on the applicants, in the form of an affidavit or, for lawyers, a certificate of service. Pursuant to rule 0–5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. Secretary, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. Applicants: Jon C. Essen, LoCorr Fund Management, LLC, 261 School Avenue, 4th Floor, Excelsior, MN 55331; and JoAnn Strasser, Esq., Thompson Hine LLP, 41 South High Street 17th Floor, Columbus, OH 43215. ADDRESSES: FOR FURTHER INFORMATION CONTACT: David J. Marcinkus, Senior Counsel, at (202) 551–6882, or Mary Kay Frech, Branch Chief, at (202) 551–6821 (Division of Investment Management, Chief Counsel’s Office). The following is a summary of the application. The complete application may be obtained via the Commission’s Web site by searching for the file number, or an applicant using the Company name box, at https:// www.sec.gov/search/search.htm or by calling (202) 551–8090. SUPPLEMENTARY INFORMATION: 14, 2012) (notice) and 30199 (Sept. 11, 2012) (order). E:\FR\FM\01MRN1.SGM 01MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 81, Number 40 (Tuesday, March 1, 2016)]
[Notices]
[Pages 10691-10692]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-04348]


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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 19b-4(e) and Form 19b-4(e); SEC File No. 270-447, OMB 
Control No. 3235-0504.

    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 existing collection of 
information provided for in Rule 19b-4(e) (17 CFR 240.19b-4(e)) under 
the Securities Exchange Act of 1934 (15 U.S.C 78a et seq.) (the 
``Act''). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 19b-4(e) permits a self-regulatory organization (``SRO'') to 
list and trade a new derivative securities product without submitting a 
proposed rule change pursuant to Section 19(b) of the Act (15 U.S.C. 
78s(b)), so long as such product meets the criteria of Rule 19b-4(e) 
under the Act. However, in order for the Commission to maintain an 
accurate record of all new derivative securities products traded on the 
SROs, Rule 19b-4(e) requires an SRO to file a summary form, Form 19b-
4(e), to notify the Commission when the SRO begins trading a new 
derivative securities product that is not required to be submitted as a 
proposed rule change to the Commission. Form 19b-4(e) should be 
submitted within five business days after an SRO begins trading a new 
derivative securities product that is not required to be submitted as a 
proposed rule change. In addition, Rule 19b-4(e) requires an SRO to 
maintain, on-site, a copy of Form 19b-4(e) for a prescribed period of 
time.
    This collection of information is designed to allow the Commission 
to maintain an accurate record of all new derivative securities 
products traded on the SROs that are not deemed to be proposed rule 
changes and to determine whether an SRO has properly availed itself of 
the permission granted by Rule 19b-4(e). The Commission reviews SRO 
compliance with Rule 19b-4(e) through its routine inspections of the 
SROs.
    The respondents to the collection of information are SROs (as 
defined by the Act), all of which are national securities exchanges. As 
of January 2016, there are eighteen entities registered as national 
securities exchanges with the Commission. The Commission receives an 
average total of 2,088 responses per year, which corresponds to an 
estimated annual response burden of 2,088 hours. At an average hourly 
cost of $64, the aggregate related internal cost of compliance with 
Rule 19b-4(e) is $133,632 (2,088 burden hours multiplied by $64/hour).

[[Page 10692]]

    Compliance with Rule 19b-4(e) is mandatory. Information received in 
response to Rule 19b-4(e) shall not be kept confidential; the 
information collected is public information.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimate of the burden of the collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information 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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    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.

    Dated: February 24, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-04348 Filed 2-29-16; 8:45 am]
 BILLING CODE 8011-01-P

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