Proposed Collection; Comment Request, 26960-26961 [2017-12087]

Download as PDF asabaliauskas on DSKBBXCHB2PROD with NOTICES 26960 Federal Register / Vol. 82, No. 111 / Monday, June 12, 2017 / Notices program, submitted to the Division of Research Programs. 17. Date: July 24, 2017. This meeting will discuss applications for Fellowships for Advanced Social Science Research on Japan, submitted to the Division of Research Programs. 18. Date: July 25, 2017. This meeting will discuss applications on the subject of Religious Studies, for the Fellowships grant program, submitted to the Division of Research Programs. 19. Date: July 25, 2017. This meeting will discuss applications on the subjects of African and Black Atlantic Studies, for the Fellowships grant program, submitted to the Division of Research Programs. 20. Date: July 26, 2017. This meeting will discuss applications on the subject of American History, for the Fellowships grant program, submitted to the Division of Research Programs. 21. Date: July 26, 2017. This meeting will discuss applications on the subject of American History, for the Fellowships grant program, submitted to the Division of Research Programs. 22. Date: July 26, 2017. This meeting will discuss applications on the subject of American History, for the Fellowships grant program, submitted to the Division of Research Programs. 23. Date: July 27, 2017. This meeting will discuss applications on the subject of European History, for the Fellowships grant program, submitted to the Division of Research Programs. 24. Date: July 27, 2017. This meeting will discuss applications on the subject of European History, for the Fellowships grant program, submitted to the Division of Research Programs. 25. Date: July 27, 2017. This meeting will discuss applications on the subject of American History, for the Fellowships grant program, submitted to the Division of Research Programs. 26. Date: July 27, 2017. This meeting will discuss applications for Humanities Access Grants, submitted to the Office of Challenge Grants. 27. Date: July 31, 2017. This meeting will discuss applications on the subject of Asian Studies, for the Fellowships grant program, submitted to the Division of Research Programs. 28. Date: July 31, 2017. This meeting will discuss applications on the subjects of Communication, Media, and Rhetoric, for the Fellowships grant program, submitted to the Division of Research Programs. Because these meetings will include review of personal and/or proprietary financial and commercial information given in confidence to the agency by grant applicants, the meetings will be closed to the public pursuant to sections VerDate Sep<11>2014 17:28 Jun 09, 2017 Jkt 241001 552b(c)(4) and 552b(c)(6) of Title 5, U.S.C., as amended. I have made this determination pursuant to the authority granted me by the Chairman’s Delegation of Authority to Close Advisory Committee Meetings dated April 15, 2016. Dated: June 7, 2017. Elizabeth Voyatzis, Committee Management Officer. [FR Doc. 2017–12119 Filed 6–9–17; 8:45 am] BILLING CODE 7536–01–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 St. NE., Washington, DC 20549– 2736 Extension: Rule 19b–7 and Form 19b–7; SEC File No. 270–495, OMB Control No. 3235–0553 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 (‘‘SEC’’ or ‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 19b–7 (17 CFR 240.19b–7) and Form 19b–7— Filings with respect to proposed rule changes submitted pursuant to Section 19b(7) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. The Exchange Act provides a framework for self-regulation under which various entities involved in the securities business, including national securities exchanges and national securities associations (collectively, selfregulatory organizations or ‘‘SROs’’), have primary responsibility for regulating their members or participants. The role of the Commission in this framework is primarily one of oversight; the Exchange Act charges the Commission with supervising the SROs and assuring that each complies with and advances the policies of the Exchange Act. The Exchange Act was amended by the Commodity Futures Modernization Act of 2000 (‘‘CFMA’’). Prior to the CFMA, federal law did not allow the trading of futures on individual stocks or on narrow-based stock indexes (collectively, ‘‘security futures PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 products’’). The CFMA removed this restriction and provided that trading in security futures products would be regulated jointly by the Commission and the Commodity Futures Trading Commission (‘‘CFTC’’). The Exchange Act requires all SROs to submit to the SEC any proposals to amend, add, or delete any of their rules. Certain entities (Security Futures Product Exchanges) would be notice registered national securities exchanges only because they trade security futures products. Similarly, certain entities (Limited Purpose National Securities Associations) would be limited purpose national securities associations only because their members trade security futures products. The Exchange Act, as amended by the CFMA, established a procedure for Security Futures Product Exchanges and Limited Purpose National Securities Associations to provide notice of proposed rule changes relating to certain matters.1 Rule 19b–7 and Form 19b–7 implemented this procedure. Effective April 28, 2008, the SEC amended Rule 19b–7 and Form 19b–7 to require that Form 19b–7 be submitted electronically.2 The collection of information is designed to provide the Commission with the information necessary to determine, as required by the Exchange Act, whether the proposed rule change is consistent with the Exchange Act and the rules thereunder. The information is used to determine if the proposed rule change should remain in effect or abrogated. The respondents to the collection of information are SROs. Three respondents file an average total of approximately 3 responses per year.3 Each response takes approximately 12.5 hours to complete and each amendment takes approximately 3 hours to complete, which correspond to an estimated annual response burden of 37.5 hours ((3 rule change proposals × 1 These matters are higher margin levels, fraud or manipulation, recordkeeping, reporting, listing standards, or decimal pricing for security futures products; sales practices for security futures products for persons who effect transactions in security futures products; or rules effectuating the obligation of Security Futures Product Exchanges and Limited Purpose National Securities Associations to enforce the securities laws. See 15 U.S.C. 78s(b)(7)(A). 2 See Securities Exchange Act Release No. 57526 (March 19, 2008), 73 FR 16179 (March 27, 2008). 3 There are currently four Security Futures Product Exchanges and one Limited Purpose National Securities Association, the National Futures Authority. However, two Security Futures Product Exchanges currently do not trade security futures products and, as a result, have not been filing proposed rule changes. Therefore, there are currently three respondents to Form 19b–7. E:\FR\FM\12JNN1.SGM 12JNN1 Federal Register / Vol. 82, No. 111 / Monday, June 12, 2017 / Notices asabaliauskas on DSKBBXCHB2PROD with NOTICES 12.5 hours) + (0 amendments 4 × 3 hours)). The average internal cost of compliance per response is $4,761 (11.5 legal hours multiplied by an average hourly rate of $396 5 plus 1 hour of paralegal work multiplied by an average hourly rate of $207 6). The total resulting internal cost of compliance for a respondent is $14,283 per year (3 responses × $4,761 per response). In addition to filing its proposed rule changes and any amendments thereto with the Commission, a respondent is also required to post each of its proposals and any amendments thereto, on its Web site. This process takes approximately 0.5 hours to complete per proposal and 0.5 hours per amendment. Thus, for approximately 3 responses and 0 amendments,7 the total annual reporting burden on a respondent to post these on its Web site is 1.5 hours ((3 proposals per year × 0.5 hours per filing) + (0 amendments × 0.5 hours)). Further, a respondent is required to update its rulebook, which it maintains on its Web site, to reflect the changes that it makes in each proposal and any amendment thereto. Thus, for all filings that were not withdrawn by a respondent (0 withdrawn filings in calendar years 2014–2016) or disapproved by the Commission (0 disapproved filings in calendar years 2014–2016), a respondent was required to update its online rulebook to reflect the effectiveness of 3 filings on average, each of which takes approximately 4 hours to complete per proposal. Thus, the total annual reporting burden for updating an online rulebook is 12 hours ((3 filings per year ¥ 0 withdrawn filings ¥ 0 disapproved filings) × 4 hours). Compliance with Rule 19b–7 is mandatory. Information received in response to Rule 19b–7 is not kept 4 SEC staff notes that even though no amendments were received in the previous three years and that staff does not anticipate the receipt of any amendments, calculation of amendments is a separate step in the calculation of the PRA burden and it is possible that amendments are filed in the future. Therefore, instead of removing the calculation altogether, staff has shown the calculation as anticipating zero amendments. 5 The $396 per hour figure for an Attorney is from SIFMA’s Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for inflation and an 1800-hour work-year and then multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead. 6 The $207 per hour figure for a Paralegal is from SIFMA’s Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for inflation and an 1800-hour work-year and then multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead. 7 See supra note 4. VerDate Sep<11>2014 17:28 Jun 09, 2017 Jkt 241001 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 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 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: June 7, 2017. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–12087 Filed 6–9–17; 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: Rule 17a–10; SEC File No. 270–154, OMB Control No. 3235–0122 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 existing collection of information provided for in Rule 17a–10, Report of Revenue and Expenses (17 CFR 240.17a–10), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 26961 Office of Management and Budget (‘‘OMB’’) for extension and approval. The primary purpose of Rule 17a–10 is to obtain the economic and statistical data necessary for an ongoing analysis of the securities industry. Paragraph (a)(1) of Rule 17a–10 generally requires broker-dealers that are exempted from the requirement to file monthly and quarterly reports pursuant to paragraph (a) of Exchange Act Rule 17a–5 (17 CFR 240.17a–5) to file with the Commission the Facing Page, a Statement of Income (Loss), and balance sheet from Part IIA of Form X–17A–5 1 (17 CFR 249.617), and Schedule I of Form X–17A–5 not later than 17 business days after the end of each calendar year. Paragraph (a)(2) of Rule 17a–10 requires a broker-dealer subject to Rule 17a–5(a) to submit Schedule I of Form X–17A–5 with its Form X–17A–5 for the calendar quarter ending December 31 of each year. The burden associated with filing Schedule I of Form X–17A–5 is accounted for in the PRA filing associated with Rule 17a–5. Paragraph (b) of Rule 17a–10 provides that the provisions of paragraph (a) do not apply to members of national securities exchanges or registered national securities associations that maintain records containing the information required by Form X–17A–5 and which transmit to the Commission copies of the records pursuant to a plan which has been declared effective by the Commission. The Commission estimates that approximately 38 broker-dealers will spend an average of 12 hours per year complying with Rule 17a–10. Thus, the total compliance burden is estimated to be approximately 456 hours per year. 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. 1 Form X–17A–5 is the Financial and Operational Combined Uniform Single Report (‘‘FOCUS Report’’), which is used by broker-dealers to provide certain required information to the Commission. E:\FR\FM\12JNN1.SGM 12JNN1

Agencies

[Federal Register Volume 82, Number 111 (Monday, June 12, 2017)]
[Notices]
[Pages 26960-26961]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-12087]


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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 St. NE., Washington, DC 
20549-2736

Extension: 
    Rule 19b-7 and Form 19b-7; SEC File No. 270-495, OMB Control No. 
3235-0553

    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 (``SEC'' or ``Commission'') is soliciting comments on the 
existing collection of information provided for in Rule 19b-7 (17 CFR 
240.19b-7) and Form 19b-7--Filings with respect to proposed rule 
changes submitted pursuant to Section 19b(7) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act''). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget for extension and approval.
    The Exchange Act provides a framework for self-regulation under 
which various entities involved in the securities business, including 
national securities exchanges and national securities associations 
(collectively, self-regulatory organizations or ``SROs''), have primary 
responsibility for regulating their members or participants. The role 
of the Commission in this framework is primarily one of oversight; the 
Exchange Act charges the Commission with supervising the SROs and 
assuring that each complies with and advances the policies of the 
Exchange Act.
    The Exchange Act was amended by the Commodity Futures Modernization 
Act of 2000 (``CFMA''). Prior to the CFMA, federal law did not allow 
the trading of futures on individual stocks or on narrow-based stock 
indexes (collectively, ``security futures products''). The CFMA removed 
this restriction and provided that trading in security futures products 
would be regulated jointly by the Commission and the Commodity Futures 
Trading Commission (``CFTC'').
    The Exchange Act requires all SROs to submit to the SEC any 
proposals to amend, add, or delete any of their rules. Certain entities 
(Security Futures Product Exchanges) would be notice registered 
national securities exchanges only because they trade security futures 
products. Similarly, certain entities (Limited Purpose National 
Securities Associations) would be limited purpose national securities 
associations only because their members trade security futures 
products. The Exchange Act, as amended by the CFMA, established a 
procedure for Security Futures Product Exchanges and Limited Purpose 
National Securities Associations to provide notice of proposed rule 
changes relating to certain matters.\1\ Rule 19b-7 and Form 19b-7 
implemented this procedure. Effective April 28, 2008, the SEC amended 
Rule 19b-7 and Form 19b-7 to require that Form 19b-7 be submitted 
electronically.\2\
---------------------------------------------------------------------------

    \1\ These matters are higher margin levels, fraud or 
manipulation, recordkeeping, reporting, listing standards, or 
decimal pricing for security futures products; sales practices for 
security futures products for persons who effect transactions in 
security futures products; or rules effectuating the obligation of 
Security Futures Product Exchanges and Limited Purpose National 
Securities Associations to enforce the securities laws. See 15 
U.S.C. 78s(b)(7)(A).
    \2\ See Securities Exchange Act Release No. 57526 (March 19, 
2008), 73 FR 16179 (March 27, 2008).
---------------------------------------------------------------------------

    The collection of information is designed to provide the Commission 
with the information necessary to determine, as required by the 
Exchange Act, whether the proposed rule change is consistent with the 
Exchange Act and the rules thereunder. The information is used to 
determine if the proposed rule change should remain in effect or 
abrogated.
    The respondents to the collection of information are SROs. Three 
respondents file an average total of approximately 3 responses per 
year.\3\ Each response takes approximately 12.5 hours to complete and 
each amendment takes approximately 3 hours to complete, which 
correspond to an estimated annual response burden of 37.5 hours ((3 
rule change proposals x

[[Page 26961]]

12.5 hours) + (0 amendments \4\ x 3 hours)). The average internal cost 
of compliance per response is $4,761 (11.5 legal hours multiplied by an 
average hourly rate of $396 \5\ plus 1 hour of paralegal work 
multiplied by an average hourly rate of $207 \6\). The total resulting 
internal cost of compliance for a respondent is $14,283 per year (3 
responses x $4,761 per response).
---------------------------------------------------------------------------

    \3\ There are currently four Security Futures Product Exchanges 
and one Limited Purpose National Securities Association, the 
National Futures Authority. However, two Security Futures Product 
Exchanges currently do not trade security futures products and, as a 
result, have not been filing proposed rule changes. Therefore, there 
are currently three respondents to Form 19b-7.
    \4\ SEC staff notes that even though no amendments were received 
in the previous three years and that staff does not anticipate the 
receipt of any amendments, calculation of amendments is a separate 
step in the calculation of the PRA burden and it is possible that 
amendments are filed in the future. Therefore, instead of removing 
the calculation altogether, staff has shown the calculation as 
anticipating zero amendments.
    \5\ The $396 per hour figure for an Attorney is from SIFMA's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff to account for inflation and an 1800-
hour work-year and then multiplied by 5.35 to account for bonuses, 
firm size, employee benefits, and overhead.
    \6\ The $207 per hour figure for a Paralegal is from SIFMA's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff to account for inflation and an 1800-
hour work-year and then multiplied by 5.35 to account for bonuses, 
firm size, employee benefits, and overhead.
---------------------------------------------------------------------------

    In addition to filing its proposed rule changes and any amendments 
thereto with the Commission, a respondent is also required to post each 
of its proposals and any amendments thereto, on its Web site. This 
process takes approximately 0.5 hours to complete per proposal and 0.5 
hours per amendment. Thus, for approximately 3 responses and 0 
amendments,\7\ the total annual reporting burden on a respondent to 
post these on its Web site is 1.5 hours ((3 proposals per year x 0.5 
hours per filing) + (0 amendments x 0.5 hours)). Further, a respondent 
is required to update its rulebook, which it maintains on its Web site, 
to reflect the changes that it makes in each proposal and any amendment 
thereto. Thus, for all filings that were not withdrawn by a respondent 
(0 withdrawn filings in calendar years 2014-2016) or disapproved by the 
Commission (0 disapproved filings in calendar years 2014-2016), a 
respondent was required to update its online rulebook to reflect the 
effectiveness of 3 filings on average, each of which takes 
approximately 4 hours to complete per proposal. Thus, the total annual 
reporting burden for updating an online rulebook is 12 hours ((3 
filings per year - 0 withdrawn filings - 0 disapproved filings) x 4 
hours).
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    \7\ See supra note 4.
---------------------------------------------------------------------------

    Compliance with Rule 19b-7 is mandatory. Information received in 
response to Rule 19b-7 is not 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 
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 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: June 7, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-12087 Filed 6-9-17; 8:45 am]
 BILLING CODE 8011-01-P