Submission for OMB Review; Comment Request, 49708-49709 [2016-17820]

Download as PDF 49708 Federal Register / Vol. 81, No. 145 / Thursday, July 28, 2016 / Notices Lhorne on DSK30JT082PROD with NOTICES therefore also do not impact the Commission’s prior conclusions. These changes, in fact, were found to be necessary by the Commission in the Prior Filings.24 Similarly, the changes to rename certain services to better reflect the service offered, refer to Nasdaq Corporate Solutions and reorganize the rule are clarifying changes, which have no impact on fees and how they are allocated or on competition. Nasdaq believes that it is not unfairly discriminatory to offer the revised service package only to currently listed companies that are receiving services at the time of the proposal’s approval, and not to other currently listed companies. Companies receiving complimentary services are still in the process of sampling Nasdaq Corporate Solutions’ offering and both the companies and Nasdaq Corporate Solutions will benefit from the ability of the company to utilize the revised services. Moreover, because Nasdaq Corporate Solutions continues to provide the complimentary services to these companies, extending their term and providing additional seats and advisory services is a seamless process. On the other hand, companies that are not currently receiving complimentary services from Nasdaq Corporate Solutions will have either entered into binding contractual agreements with Nasdaq Corporate Solutions and other providers for the specific services they require or determined that they do not wish to purchase the services. Extending the benefits of the revised rule to such companies would cause them to have duplicative services to what they have already contracted or provide them with the option for a service that they have already concluded they do not want. Accordingly, providing the benefit of the changes only to those companies receiving services when the proposed rule change is approved is not unfairly discriminatory. B. Self-Regulatory Organization’s Statement on Burden on Competition Nasdaq does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. As described in the statutory basis section, above, the proposed rule change responds to competitive pressures in the market for listings. Nasdaq believes the proposed changes will result in a more enticing package for potential listings and therefore will enhance competition among listing exchanges. The proposed 24 Exchange Act Release No. 72669, 79 FR at 44236. VerDate Sep<11>2014 14:44 Jul 27, 2016 Jkt 238001 changes to allow companies the ability to choose a more meaningful market advisory tool will provide companies a better experience with these tools, the proposed change to allow certain companies to receive two market advisory tools will expose eligible companies to additional service options. As a result, Nasdaq believes that when the complimentary period ends these companies are more likely to continue to use the Nasdaq Corporate Solutions service or a competing service, whereas otherwise they may not be exposed to the value of these services and therefore may not purchase any. This will create additional users of the service class and enhance competition among service providers. In addition, other service providers can also offer similar services to companies, thereby increasing competition to the benefit of those companies and their shareholders. Accordingly, Nasdaq does not believe the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the Exchange consents, the Commission shall: (a) By order approve or disapprove such proposed rule change, or (b) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: 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 Number SR– NASDAQ–2016–098 on the subject line. PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NASDAQ–2016–098. 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 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 Number SR– NASDAQ–2016–098 and should be submitted on or before August 18, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25 Brent J. Fields, Secretary. [FR Doc. 2016–17822 Filed 7–27–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; 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: 25 17 E:\FR\FM\28JYN1.SGM CFR 200.30–3(a)(12). 28JYN1 Federal Register / Vol. 81, No. 145 / Thursday, July 28, 2016 / Notices Lhorne on DSK30JT082PROD with NOTICES Rule 15Ba2–5, SEC File No. 270–91, OMB Control No. 3235–0088. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in Rule 15Ba2–5 (17 CFR 240.15Ba2–5), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). On July 7, 1976, effective July 16, 1976 (see 41 FR 28948, July 14, 1976), the Commission adopted Rule 15Ba2–5 under the Exchange Act to permit a duly-appointed fiduciary to assume immediate responsibility for the operation of a municipal securities dealer’s business. Without the rule, the fiduciary would not be able to assume operation until it registered as a municipal securities dealer. Under the rule, the registration of a municipal securities dealer is deemed to be the registration of any executor, administrator, guardian, conservator, assignee for the benefit of creditors, receiver, trustee in insolvency or bankruptcy, or other fiduciary, appointed or qualified by order, judgment, or decree of a court of competent jurisdiction to continue the business of such municipal securities dealer, provided that such fiduciary files with the Commission, within 30 days after entering upon the performance of his duties, a statement setting forth as to such fiduciary substantially the same information required by Form MSD or Form BD. The statement is necessary to ensure that the Commission and the public have adequate information about the fiduciary. There is approximately 1 respondent per year that requires an aggregate total of 4 hours to comply with this rule. This respondent makes an estimated 1 annual response. Each response takes approximately 4 hours to complete. Thus, the total compliance burden per year is 4 burden hours. The approximate cost per hour is $20, resulting in a total internal cost of compliance for the respondent of approximately $80 (i.e., 4 hours × $20). 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. The public may view background documentation for this information collection at the following Web site: www.reginfo.gov. Comments should be VerDate Sep<11>2014 14:44 Jul 27, 2016 Jkt 238001 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) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an email to: PRA_ Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 22, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–17820 Filed 7–27–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78394; File No. SR–Phlx– 2016–77] Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Price Improvement XL Pricing July 22, 2016. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that, on July 14, 2016, NASDAQ PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. 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 the Substance of the Proposed Rule Change The Exchange proposes to amend the Exchange’s Pricing Schedule at section IV, part A, to amend Price Improvement XL (‘‘PIXL’’) Pricing.3 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 PIXLSM is the Exchange’s price improvement mechanism known as Price Improvement XL or PIXL. A member may electronically submit for execution an order it represents as agent on behalf of a public customer, broker-dealer, or any other entity (‘‘PIXL Order’’) against principal interest or against any other order (except as provided in Rule 1080(n)(i)(F) it represents as agent (‘‘Initiating Order’’), provided it submits the PIXL order for electronic execution into the PIXL Auction pursuant to Rule 1080. See Exchange Rule 1080(n). PO 00000 1 15 2 17 Frm 00092 Fmt 4703 Sfmt 4703 49709 While changes to the Pricing Schedule pursuant to this proposal are effective upon filing, the Exchange has designated these changes to be operative on August 1, 2016. The text of the proposed rule change is available on the Exchange’s Web site at https://nasdaqphlx.cchwallstreet .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 Exchange 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 these 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 aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to amend PIXL Pricing in section IV, part A, to reduce the Penny Pilot Options Specialist 4 or Market Maker 5 Responder fee from $0.30 to 4 The term ‘‘Specialist’’ shall apply to the account of a Specialist (as defined in Exchange Rule 1020(a)). A Specialist is an Exchange member who is registered as an options specialist pursuant to Rule 501(a). An options Specialist includes a Remote Specialist which is defined as an options specialist in one or more classes that does not have a physical presence on an Exchange floor and is approved by the Exchange pursuant to Rule 501. 5 The term ‘‘Market Maker’’ will be utilized to describe fees and rebates applicable to Registered Options Traders (‘‘ROTs’’), Streaming Quote Traders (‘‘SQTs’’), Remote Streaming Quote Traders (‘‘RSQTs’’). An ROT is defined in Exchange Rule 1014(b) is a regular member or a foreign currency options participant of the Exchange located on the trading floor who has received permission from the Exchange to trade in options for his own account. A ROT includes SQTs and RSQTs as well as on and off-floor ROTS. An SQT is defined in Exchange Rule 1014(b)(ii)(A) as an ROT who has received permission from the Exchange to generate and submit option quotations electronically in options to which such SQT is assigned. An RSQT is defined in Exchange Rule in 1014(b)(ii)(B) as an ROT that is a member affiliated with an RSQTO with no physical trading floor presence who has received permission from the Exchange to generate and submit option quotations electronically in options to which such RSQT has been assigned. A Remote Streaming Quote Trader Organization or ‘‘RSQTO,’’ which may also be referred to as a Remote Market Making Organization (‘‘RMO’’), is a member organization in good standing that satisfies the E:\FR\FM\28JYN1.SGM Continued 28JYN1

Agencies

[Federal Register Volume 81, Number 145 (Thursday, July 28, 2016)]
[Notices]
[Pages 49708-49709]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17820]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; 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:

[[Page 49709]]

    Rule 15Ba2-5, SEC File No. 270-91, OMB Control No. 3235-0088.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
existing collection of information provided for in Rule 15Ba2-5 (17 CFR 
240.15Ba2-5), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) (``Exchange Act'').
    On July 7, 1976, effective July 16, 1976 (see 41 FR 28948, July 14, 
1976), the Commission adopted Rule 15Ba2-5 under the Exchange Act to 
permit a duly-appointed fiduciary to assume immediate responsibility 
for the operation of a municipal securities dealer's business. Without 
the rule, the fiduciary would not be able to assume operation until it 
registered as a municipal securities dealer. Under the rule, the 
registration of a municipal securities dealer is deemed to be the 
registration of any executor, administrator, guardian, conservator, 
assignee for the benefit of creditors, receiver, trustee in insolvency 
or bankruptcy, or other fiduciary, appointed or qualified by order, 
judgment, or decree of a court of competent jurisdiction to continue 
the business of such municipal securities dealer, provided that such 
fiduciary files with the Commission, within 30 days after entering upon 
the performance of his duties, a statement setting forth as to such 
fiduciary substantially the same information required by Form MSD or 
Form BD. The statement is necessary to ensure that the Commission and 
the public have adequate information about the fiduciary.
    There is approximately 1 respondent per year that requires an 
aggregate total of 4 hours to comply with this rule. This respondent 
makes an estimated 1 annual response. Each response takes approximately 
4 hours to complete. Thus, the total compliance burden per year is 4 
burden hours. The approximate cost per hour is $20, resulting in a 
total internal cost of compliance for the respondent of approximately 
$80 (i.e., 4 hours x $20).
    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.
    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) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: July 22, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-17820 Filed 7-27-16; 8:45 am]
BILLING CODE 8011-01-P
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