Proposed Collection; Comment Request, 62222 [2016-21640]

Download as PDF 62222 Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices Please direct your written comment 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: September 1, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–21520 Filed 9–7–16; 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. mstockstill on DSK3G9T082PROD with NOTICES Extension: Rule 602; SEC File No. 270–404; OMB Control No. 3235–0461. 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’’) is soliciting comments on the existing collection of information provided for in Rule 602 of Regulation NMS (17 CFR 240.602), 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 602 of Regulation NMS, Dissemination of Quotations in NMS securities, contains two related collections. The first collection of information is found in Rule 602(a).1 This third-party disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each ‘‘subject security,’’ as defined under the Rule. The second collection of information is found in Rule 602(b).2 This disclosure requirement obligates any exchange member and over-thecounter (‘‘OTC’’) market maker that is a ‘‘responsible broker or dealer,’’ as defined under the Rule, to communicate to an exchange or association its best 1 17 2 17 CFR 242.602(a). CFR 242.602(b). VerDate Sep<11>2014 19:34 Sep 07, 2016 Jkt 238001 bids, best offers, and quotation sizes for subject securities.3 It is anticipated that twenty respondents, consisting of nineteen national securities exchanges and one national securities association, will collectively respond approximately 2,184,303,485,488 times per year pursuant to Rule 602(a) at 18.22 microseconds per response, resulting in a total annual burden of approximately 11,640 hours. It is anticipated that no respondents will have a reporting burden pursuant to Rule 602(b).4 Thus, the aggregate third-party disclosure burden under Rule 602 is11, 640 hours annually which is comprised of 11,640 hours relating to Rule 602(a) and 0 hours relating to Rule 602(b). Written comments are invited on: (a) Whether the proposed collections of information are necessary for the proper performance of the functions of the Commission, including whether the information will have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the proposed collections 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 collections of information on those who are to respond, 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 C. Dyson, Director/Chief Information Officer, Securities and 3 Under Rule 602(b)(5), electronic communications networks (‘‘ECNs’’) have the option of reporting to an exchange or association for public dissemination, on behalf of customers that are OTC market makers or exchange market makers, the best-priced orders and the full size for such orders entered by market makers on the ECN, to satisfy such market makers’ reporting obligation under Rule 602(b). Since this reporting requirement is an alternative method of meeting the market makers’ reporting obligation, and because it is directed to nine or fewer persons (ECNs), this collection of information is not subject to OMB review under the Paperwork Reduction Act (‘‘PRA’’). 4 For the reporting obligation under Rule 602(b), the respondents are exchange members and OTC market makers. The Commission believes that communication of quotations through an exchange’s electronic trading system effectively means that exchange members currently have no reporting burden under Rule 602(b) for these quotations. The Commission also believes that there are presently no OTC market makers that quote other than on an exchange. PO 00000 Frm 00151 Fmt 4703 Sfmt 4703 Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: September 2, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–21640 Filed 9–7–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78759; File No. SR–FINRA– 2016–024] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Granting Approval of Proposed Rule Change To Create an Academic Corporate Bond TRACE Data Product September 2, 2016. I. Introduction On June 28, 2016, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend FINRA Rule 7730 to create a new data product consisting of data on historic transactions in corporate bonds reported to the Trade Reporting and Compliance Engine (‘‘TRACE’’) that would be available to institutions of higher learning (the ‘‘Academic Corporate Bond TRACE Data product’’). The proposed rule change was published for comment in the Federal Register on July 7, 2016.3 The Commission received three comments in response to the proposal.4 On August 9, 2016, FINRA extended to September 2, 2016, the time period within which the Commission shall approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 78219 (July 1, 2016), 81 FR 44359 (‘‘Notice’’). 4 See letters to Brent J. Fields, Secretary, Commission, from Sean Davy, Managing Director, Capital Markets Division and Leslie M. Norwood, Managing Director and Associate General Counsel, Municipal Securities Division, SIFMA, dated July 27, 2016 (‘‘SIFMA Letter’’); Mike Nicholas, Chief Executive Officer, BDA, dated July 28, 2016 (‘‘BDA Letter’’); and Kumar Venkataraman, Ph.D., James M. Collins Chair in Finance, Edwin L. Cox School of Business, Southern Methodist University, dated August 9, 2016 (‘‘Venkataraman Letter’’). 2 17 E:\FR\FM\08SEN1.SGM 08SEN1

Agencies

[Federal Register Volume 81, Number 174 (Thursday, September 8, 2016)]
[Notices]
[Page 62222]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21640]


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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 602; SEC File No. 270-404; OMB Control No. 3235-0461.

    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'') is soliciting comments on the existing 
collection of information provided for in Rule 602 of Regulation NMS 
(17 CFR 240.602), 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 602 of Regulation NMS, Dissemination of Quotations in NMS 
securities, contains two related collections. The first collection of 
information is found in Rule 602(a).\1\ This third-party disclosure 
requirement obligates each national securities exchange and national 
securities association to make available to quotation vendors for 
dissemination to the public the best bid, best offer, and aggregate 
quotation size for each ``subject security,'' as defined under the 
Rule. The second collection of information is found in Rule 602(b).\2\ 
This disclosure requirement obligates any exchange member and over-the-
counter (``OTC'') market maker that is a ``responsible broker or 
dealer,'' as defined under the Rule, to communicate to an exchange or 
association its best bids, best offers, and quotation sizes for subject 
securities.\3\
---------------------------------------------------------------------------

    \1\ 17 CFR 242.602(a).
    \2\ 17 CFR 242.602(b).
    \3\ Under Rule 602(b)(5), electronic communications networks 
(``ECNs'') have the option of reporting to an exchange or 
association for public dissemination, on behalf of customers that 
are OTC market makers or exchange market makers, the best-priced 
orders and the full size for such orders entered by market makers on 
the ECN, to satisfy such market makers' reporting obligation under 
Rule 602(b). Since this reporting requirement is an alternative 
method of meeting the market makers' reporting obligation, and 
because it is directed to nine or fewer persons (ECNs), this 
collection of information is not subject to OMB review under the 
Paperwork Reduction Act (``PRA'').
---------------------------------------------------------------------------

    It is anticipated that twenty respondents, consisting of nineteen 
national securities exchanges and one national securities association, 
will collectively respond approximately 2,184,303,485,488 times per 
year pursuant to Rule 602(a) at 18.22 microseconds per response, 
resulting in a total annual burden of approximately 11,640 hours. It is 
anticipated that no respondents will have a reporting burden pursuant 
to Rule 602(b).\4\
---------------------------------------------------------------------------

    \4\ For the reporting obligation under Rule 602(b), the 
respondents are exchange members and OTC market makers. The 
Commission believes that communication of quotations through an 
exchange's electronic trading system effectively means that exchange 
members currently have no reporting burden under Rule 602(b) for 
these quotations. The Commission also believes that there are 
presently no OTC market makers that quote other than on an exchange.
---------------------------------------------------------------------------

    Thus, the aggregate third-party disclosure burden under Rule 602 
is11, 640 hours annually which is comprised of 11,640 hours relating to 
Rule 602(a) and 0 hours relating to Rule 602(b).
    Written comments are invited on: (a) Whether the proposed 
collections of information are necessary for the proper performance of 
the functions of the Commission, including whether the information will 
have practical utility; (b) the accuracy of the Commission's estimate 
of the burden of the proposed collections 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 collections of 
information on those who are to respond, 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 C. 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.


    Dated: September 2, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-21640 Filed 9-7-16; 8:45 am]
 BILLING CODE 8011-01-P
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