Proposed Collection; Comment Request, 30933 [2017-13894]
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Federal Register / Vol. 82, No. 126 / Monday, July 3, 2017 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–424, OMB Control No.
3235–0473]
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
sradovich on DSK3GMQ082PROD with NOTICES
Extension:
Rule 17Ad–3(b)
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 17Ad–3(b) (17 CFR
240.17Ad–3(b)), 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 17Ad–3(b) requires registered
transfer agents to send a copy of the
written notice required under Rule
17Ad–2(c), (d), and (h) to the chief
executive officer of each issuer for
which the transfer agent acts when it
has failed to turnaround at least 75% of
all routine items in accordance with the
requirements of Rule 17Ad–2(a), or to
process at least 75% of all items in
accordance with the requirements of
Rule 17Ad–2(b), for two consecutive
months. The issuer may use the
information contained in the notices: (1)
As an early warning of the transfer
agent’s non-compliance with the
Commission’s minimum performance
standards regarding registered transfer
agents; and (2) to become aware of
certain problems and poor performances
with respect to the transfer agents that
are servicing the issuer’s issues. If the
issuer does not receive notice of a
registered transfer agent’s failure to
comply with the Commission’s
minimum performance standards then
the issuer will be unable to take
remedial action to correct the problem
or to find another registered transfer
agent. Pursuant to Rule 17Ad–3(b), a
transfer agent that has already filed a
Notice of Non-Compliance with the
Commission pursuant to Rule 17Ad–2
will only be required to send a copy of
that notice to issuers for which it acts
when that transfer agent fails to
turnaround 75% of all routine items or
to process 75% of all items.
The Commission estimates that only
one transfer agent will meet the
VerDate Sep<11>2014
17:53 Jun 30, 2017
Jkt 241001
requirements of Rule 17Ad–3(b) each
year. If a transfer agent fails to meet
those turnaround and processing
requirements under 17Ad–3(b), it would
simply send a copy of the notice to its
issuer-clients that had already been
produced for the Commission pursuant
to Rule 17Ad–2(c) or (d). The
Commission estimates the requirement
will take each respondent
approximately four hours to complete.
The Commission staff estimates that
compliance staff work at registered
transfer agents to comply with the third
party disclosure requirement will result
in an internal cost of compliance, at an
estimated hourly wage of $283, of
$1,128 per year per transfer agent (4
hours × $283 per hour = $1,128 per
year). Therefore, the aggregate annual
internal cost of compliance for the
approximately one registered transfer
agent each year to comply with Rule
17Ad–3(b) is also $1,128. There are no
external labor costs associated with
sending the notice to issuers.
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 27, 2017.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–13894 Filed 6–30–17; 8:45 am]
BILLING CODE P
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81030; File No. SR–ICC–
2017–009]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Notice of Proposed
Rule Change, Security-Based Swap
Submission, or Advance Notice
Relating to the Clearance of Additional
Credit Default Swap Contracts
June 27, 2017.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1 and Rule 19b–4 2 notice is
hereby given that on June 13, 2017, ICE
Clear Credit LLC (‘‘ICC’’) filed with the
Securities and Exchange Commission
the proposed rule change, securitybased swap submission, or advance
notice as described in Items I, II and III
below, which Items have been primarily
prepared by ICC. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
The principal purpose of the
proposed rule change is to revise the
ICC Rulebook (the ‘‘Rules’’) to provide
for the clearance of Standard Asia
Corporate Single Name CDS contracts
(collectively, ‘‘STASC Contracts’’),
Standard Asia Financial Corporate
Single Name CDS contracts
(collectively, ‘‘STASFC Contracts’’), and
Standard Emerging Market Corporate
Single Name CDS contracts
(collectively, ‘‘STEMC Contracts’’).
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission, ICC
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. ICC has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of these statements.
A. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
The purpose of the proposed rule
change is to adopt rules that will
provide the basis for ICC to clear
additional credit default swap contracts.
1 15
2 17
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30933
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
03JYN1
]]>Agencies
[Federal Register Volume 82, Number 126 (Monday, July 3, 2017)]
[Notices]
[Page 30933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13894]
[[Page 30933]]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-424, OMB Control No. 3235-0473]
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 17Ad-3(b)
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 17Ad-3(b) (17 CFR
240.17Ad-3(b)), 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 17Ad-3(b) requires registered transfer agents to send a copy
of the written notice required under Rule 17Ad-2(c), (d), and (h) to
the chief executive officer of each issuer for which the transfer agent
acts when it has failed to turnaround at least 75% of all routine items
in accordance with the requirements of Rule 17Ad-2(a), or to process at
least 75% of all items in accordance with the requirements of Rule
17Ad-2(b), for two consecutive months. The issuer may use the
information contained in the notices: (1) As an early warning of the
transfer agent's non-compliance with the Commission's minimum
performance standards regarding registered transfer agents; and (2) to
become aware of certain problems and poor performances with respect to
the transfer agents that are servicing the issuer's issues. If the
issuer does not receive notice of a registered transfer agent's failure
to comply with the Commission's minimum performance standards then the
issuer will be unable to take remedial action to correct the problem or
to find another registered transfer agent. Pursuant to Rule 17Ad-3(b),
a transfer agent that has already filed a Notice of Non-Compliance with
the Commission pursuant to Rule 17Ad-2 will only be required to send a
copy of that notice to issuers for which it acts when that transfer
agent fails to turnaround 75% of all routine items or to process 75% of
all items.
The Commission estimates that only one transfer agent will meet the
requirements of Rule 17Ad-3(b) each year. If a transfer agent fails to
meet those turnaround and processing requirements under 17Ad-3(b), it
would simply send a copy of the notice to its issuer-clients that had
already been produced for the Commission pursuant to Rule 17Ad-2(c) or
(d). The Commission estimates the requirement will take each respondent
approximately four hours to complete. The Commission staff estimates
that compliance staff work at registered transfer agents to comply with
the third party disclosure requirement will result in an internal cost
of compliance, at an estimated hourly wage of $283, of $1,128 per year
per transfer agent (4 hours x $283 per hour = $1,128 per year).
Therefore, the aggregate annual internal cost of compliance for the
approximately one registered transfer agent each year to comply with
Rule 17Ad-3(b) is also $1,128. There are no external labor costs
associated with sending the notice to issuers.
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 27, 2017.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017-13894 Filed 6-30-17; 8:45 am]
BILLING CODE P
