Submission for OMB Review; Comment Request, 34387-34388 [2016-12676]

Download as PDF Federal Register / Vol. 81, No. 104 / Tuesday, May 31, 2016 / Notices any particular vendor or subscriber would achieve through the purchase. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to section 19(b)(3)(A) of the Act 25 and paragraph (f) of Rule 19b–4 thereunder.26 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposal is consistent with the Act. Comments may be submitted by any of the following methods: sradovich on DSK3TPTVN1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File No. SR– BatsEDGX–2016–18 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–BatsEDGX–2016–18. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the 25 15 26 17 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f). VerDate Sep<11>2014 20:07 May 27, 2016 Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR–BatsEDGX– 2016–18, and should be submitted on or before June 21, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.27 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–12665 Filed 5–27–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–549, OMB Control No. 3235–0610] Submission for OMB Review; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 248.30. 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 (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 248.30 (17 CFR 248.30) under Regulation S–P, is titled ‘‘Procedures to Safeguard Customer Records and Information; Disposal of Consumer Report Information.’’ Rule 248.30 (the ‘‘safeguard rule’’) requires brokers, dealers, investment companies, and investment advisers registered with the Commission (‘‘registered investment advisers’’) (collectively ‘‘covered institutions’’) to adopt written policies 27 17 Jkt 238001 PO 00000 CFR 200.30–3(a)(12). Frm 00079 Fmt 4703 Sfmt 4703 34387 and procedures for administrative, technical, and physical safeguards to protect customer records and information. The safeguards must be reasonably designed to ‘‘insure the security and confidentiality of customer records and information,’’ ‘‘protect against any anticipated threats or hazards to the security and integrity’’ of those records, and protect against unauthorized access to or use of those records or information, which ‘‘could result in substantial harm or inconvenience to any customer.’’ The safeguard rule’s requirement that covered institutions’ policies and procedures be documented in writing constitutes a collection of information and must be maintained on an ongoing basis. This requirement eliminates uncertainty as to required employee actions to protect customer records and information and promotes more systematic and organized reviews of safeguard policies and procedures by institutions. The information collection also assists the Commission’s examination staff in assessing the existence and adequacy of covered institutions’ safeguard policies and procedures. We estimate that as of the end of 2015, there are 4,176 broker-dealers, 4,041 investment companies, and 11,956 investment advisers registered with the Commission, for a total of 20,173 covered institutions. We believe that all of these covered institutions have already documented their safeguard policies and procedures in writing and therefore will incur no hourly burdens related to the initial documentation of policies and procedures. Although existing covered institutions would not incur any initial hourly burden in complying with the safeguards rule, we expect that newly registered institutions would incur some hourly burdens associated with documenting their safeguard policies and procedures. We estimate that approximately 1200 broker-dealers, investment companies, or investment advisers register with the Commission annually. However, we also expect that approximately 70% of these newly registered covered institutions (840) are affiliated with an existing covered institution, and will rely on an organization-wide set of previously documented safeguard policies and procedures created by their affiliates. We estimate that these affiliated newly registered covered institutions will incur a significantly reduced hourly burden in complying with the safeguards rule, as they will need only to review their affiliate’s existing E:\FR\FM\31MYN1.SGM 31MYN1 sradovich on DSK3TPTVN1PROD with NOTICES 34388 Federal Register / Vol. 81, No. 104 / Tuesday, May 31, 2016 / Notices policies and procedures, and identify and adopt the relevant policies for their business. Therefore, we expect that newly registered covered institutions with existing affiliates will incur an hourly burden of approximately 15 hours in identifying and adopting safeguard policies and procedures for their business, for a total hourly burden for all affiliated new institutions of 12,600 hours. We expect that half of this time would be incurred by inside counsel at an hourly rate of $380, and half would be by a compliance officer at an hourly rate of $334, for a total cost of $4,498,200. Finally, we expect that the 360 newly registered entities that are not affiliated with an existing institution will incur a significantly higher hourly burden in reviewing and documenting their safeguard policies and procedures. We expect that virtually all of the newly registered covered entities that do not have an affiliate are likely to be small entities and are likely to have smaller and less complex operations, with a correspondingly smaller set of safeguard policies and procedures to document, compared to other larger existing institutions with multiple affiliates. We estimate that it will take a typical newly registered unaffiliated institution approximately 60 hours to review, identify, and document their safeguard policies and procedures, for a total of 21,600 hours for all newly registered unaffiliated entities. We expect that half of this time would be incurred by inside counsel at an hourly rate of $380, and half would be by a compliance officer at an hourly rate of $334, for a total cost of $7,711,200. Therefore, we estimate that the total annual hourly burden associated with the safeguards rule is 34,200 hours at a total hourly cost of $12,209,400. We also estimate that all covered institutions will be respondents each year, for a total of 20,173 respondents. These estimates of average burden hours are made solely for the purposes of the Paperwork Reduction Act. 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 control number. The safeguard rule does not require the reporting of any information or the filing of any documents with the Commission. The collection of information required by the safeguard rule is mandatory. The public may view the 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, VerDate Sep<11>2014 20:07 May 27, 2016 Jkt 238001 Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or send an email to: Shagufta_Ahmed@ omb.eop.gov; and (ii) 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. Comments must be submitted to OMB within 30 days of this notice. Dated: May 24, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–12676 Filed 5–27–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77891; File No. SR– NYSEArca–2016–70] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change Regarding Use of Rule 144A Securities by the Fidelity Corporate Bond ETF, Fidelity Investment Grade Bond ETF, Fidelity Limited Term Bond ETF, and Fidelity Total Bond ETF May 24, 2016. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on May 11, 2016, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 self-regulatory organization. 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 Substance of the Proposed Rule Change The Exchange proposes to permit the Fidelity Corporate Bond ETF, Fidelity Investment Grade Bond ETF, Fidelity Limited Term Bond ETF, and Fidelity Total Bond ETF (each a ‘‘Fund’’ and together the ‘‘Funds’’) to consider securities issued pursuant to Rule 144A under the Securities Act of 1933 as debt securities eligible for the principal investment of 80% of Fund assets. Shares of the Fidelity Corporate Bond ETF, Fidelity Limited Term Bond ETF, 1 15 U.S.C.78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 and Fidelity Total Bond ETF have been approved by the Exchange for listing and trading on the Exchange under NYSE Arca Equities Rule 8.600. The proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, 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 self-regulatory organization 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 those 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 parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Commission approved proposed rule changes relating to listing and trading on the Exchange of shares (‘‘Shares’’) of the Funds under NYSE Arca Equities Rule 8.600,4 which governs the listing and trading of Managed Fund Shares.5 The Exchange 4 See Securities Exchange Act Release Nos. 72068 (May 1, 2014), 79 FR 25923 (May 6, 2014) (SR– NYSEArca–2014–47) (notice of filing of proposed rule change relating to listing and trading of Shares of Fidelity Corporate Bond ETF Managed Shares under NYSE Arca Equities Rule 8.600) (‘‘Prior Corporate Bond Notice’’); 72439 (June 20, 2014), 79 FR 36361 (June 26, 2014) (SR–NYSEArca–2014–47) (order approving proposed rule change relating to listing and trading of Shares of Fidelity Corporate Bond ETF Managed Shares under NYSE Arca Equities Rule 8.600) (‘‘Prior Corporate Bond Order’’ and, together with the Prior Corporate Bond Notice, the ‘‘Prior Corporate Bond Releases’’); 72064 (May 1, 2014), 79 FR 25908 (May 6, 2014) (SR– NYSEArca–2014–46) (notice of filing of proposed rule change relating to listing and trading of Shares of Fidelity Investment Grade Bond ETF; Fidelity Limited Term Bond ETF; and Fidelity Total Bond ETF under NYSE Arca Equities Rule 8.600) (‘‘Prior Total Bond Notice); 72748 (August 4, 2014), 79 FR 46484 (August 8, 2014) (SR–NYSEArca–2014–46) (order approving proposed rule change relating to listing and trading of Shares of the Fidelity Investment Grade Bond ETF, Fidelity Limited Term Bond ETF, and Fidelity Total Bond ETF under NYSE Arca Equities Rule 8.600) (‘‘Prior Total Bond ETF Order’’ and, together with the Prior Total Bond Notice, the ‘‘Prior Total Bond Releases’’). 5 A Managed Fund Share is a security that represents an interest in an investment company registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1) (‘‘1940 Act’’) organized as an open-end investment company or similar entity that invests in a portfolio of securities selected by its E:\FR\FM\31MYN1.SGM 31MYN1

Agencies

[Federal Register Volume 81, Number 104 (Tuesday, May 31, 2016)]
[Notices]
[Pages 34387-34388]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-12676]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-549, OMB Control No. 3235-0610]


Submission for OMB Review; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension:
    Rule 248.30.

    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 (the ``Commission'') has submitted to the Office of 
Management and Budget a request for extension of the previously 
approved collection of information discussed below.
    Rule 248.30 (17 CFR 248.30) under Regulation S-P, is titled 
``Procedures to Safeguard Customer Records and Information; Disposal of 
Consumer Report Information.'' Rule 248.30 (the ``safeguard rule'') 
requires brokers, dealers, investment companies, and investment 
advisers registered with the Commission (``registered investment 
advisers'') (collectively ``covered institutions'') to adopt written 
policies and procedures for administrative, technical, and physical 
safeguards to protect customer records and information. The safeguards 
must be reasonably designed to ``insure the security and 
confidentiality of customer records and information,'' ``protect 
against any anticipated threats or hazards to the security and 
integrity'' of those records, and protect against unauthorized access 
to or use of those records or information, which ``could result in 
substantial harm or inconvenience to any customer.'' The safeguard 
rule's requirement that covered institutions' policies and procedures 
be documented in writing constitutes a collection of information and 
must be maintained on an ongoing basis. This requirement eliminates 
uncertainty as to required employee actions to protect customer records 
and information and promotes more systematic and organized reviews of 
safeguard policies and procedures by institutions. The information 
collection also assists the Commission's examination staff in assessing 
the existence and adequacy of covered institutions' safeguard policies 
and procedures.
    We estimate that as of the end of 2015, there are 4,176 broker-
dealers, 4,041 investment companies, and 11,956 investment advisers 
registered with the Commission, for a total of 20,173 covered 
institutions. We believe that all of these covered institutions have 
already documented their safeguard policies and procedures in writing 
and therefore will incur no hourly burdens related to the initial 
documentation of policies and procedures.
    Although existing covered institutions would not incur any initial 
hourly burden in complying with the safeguards rule, we expect that 
newly registered institutions would incur some hourly burdens 
associated with documenting their safeguard policies and procedures. We 
estimate that approximately 1200 broker-dealers, investment companies, 
or investment advisers register with the Commission annually. However, 
we also expect that approximately 70% of these newly registered covered 
institutions (840) are affiliated with an existing covered institution, 
and will rely on an organization-wide set of previously documented 
safeguard policies and procedures created by their affiliates. We 
estimate that these affiliated newly registered covered institutions 
will incur a significantly reduced hourly burden in complying with the 
safeguards rule, as they will need only to review their affiliate's 
existing

[[Page 34388]]

policies and procedures, and identify and adopt the relevant policies 
for their business. Therefore, we expect that newly registered covered 
institutions with existing affiliates will incur an hourly burden of 
approximately 15 hours in identifying and adopting safeguard policies 
and procedures for their business, for a total hourly burden for all 
affiliated new institutions of 12,600 hours. We expect that half of 
this time would be incurred by inside counsel at an hourly rate of 
$380, and half would be by a compliance officer at an hourly rate of 
$334, for a total cost of $4,498,200.
    Finally, we expect that the 360 newly registered entities that are 
not affiliated with an existing institution will incur a significantly 
higher hourly burden in reviewing and documenting their safeguard 
policies and procedures. We expect that virtually all of the newly 
registered covered entities that do not have an affiliate are likely to 
be small entities and are likely to have smaller and less complex 
operations, with a correspondingly smaller set of safeguard policies 
and procedures to document, compared to other larger existing 
institutions with multiple affiliates. We estimate that it will take a 
typical newly registered unaffiliated institution approximately 60 
hours to review, identify, and document their safeguard policies and 
procedures, for a total of 21,600 hours for all newly registered 
unaffiliated entities. We expect that half of this time would be 
incurred by inside counsel at an hourly rate of $380, and half would be 
by a compliance officer at an hourly rate of $334, for a total cost of 
$7,711,200.
    Therefore, we estimate that the total annual hourly burden 
associated with the safeguards rule is 34,200 hours at a total hourly 
cost of $12,209,400. We also estimate that all covered institutions 
will be respondents each year, for a total of 20,173 respondents.
    These estimates of average burden hours are made solely for the 
purposes of the Paperwork Reduction Act. 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 control number. The 
safeguard rule does not require the reporting of any information or the 
filing of any documents with the Commission. The collection of 
information required by the safeguard rule is mandatory.
    The public may view the 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 send an email to: 
Shagufta_Ahmed@omb.eop.gov; and (ii) 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. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: May 24, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-12676 Filed 5-27-16; 8:45 am]
 BILLING CODE 8011-01-P
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