Submission for OMB Review; Comment Request, 35001-35002 [2017-15779]

Download as PDF Federal Register / Vol. 82, No. 143 / Thursday, July 27, 2017 / Notices III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days after the date of the filing, or such shorter time as the Commission may designate, it has become effective pursuant to 19(b)(3)(A) of the Act 14 and Rule 19b–4(f)(6) 15 thereunder. A proposed rule change filed under Rule 19b–4(f)(6) 16 normally does not become operative for 30 days after the date of filing. However, pursuant to Rule 19b–4(f)(6)(iii),17 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest as it will immediately provide investors with additional flexibility in trading and hedging positions in IVV options on the Exchange. The Commission also notes that the proposed rule change is consistent with the strike price intervals in IVV options that is permitted on other exchanges and thus raises no new novel or substantive issues.18 Accordingly, the Commission hereby waives the 30-day operative delay requirement and designates the proposed rule change as operative upon filing.19 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. If the 14 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 16 17 CFR 240.19b–4(f)(6). 17 17 CFR 240.19b–4(f)(6)(iii). 18 See supra note 11. 19 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). mstockstill on DSK30JT082PROD with NOTICES 15 17 VerDate Sep<11>2014 19:17 Jul 26, 2017 Jkt 241001 Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments 35001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–15771 Filed 7–26–17; 8:45 am] 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: BILLING CODE 8011–01–P Electronic Comments Submission for OMB Review; Comment Request • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– MIAX–2017–33 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 Number SR–MIAX–2017–33. 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 (http://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–MIAX– 2017–33, and should be submitted on or before August 17, 2017. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–094; OMB Control No. 3235–0085] 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–11 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’’) has submitted to the Office of Management and Budget a request for approval of extension of the previously approved collection of information provided for in Rule 17a–11 (17 CFR 240.17a–11) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). In response to an operational crisis in the securities industry between 1967 and 1970, the Commission adopted Rule 17a–11 under the Exchange Act on July 11, 1971. Rule 17a–11 requires brokerdealers that are experiencing financial or operational difficulties to provide notice to the Commission, the brokerdealer’s designated examining authority (‘‘DEA’’), and the Commodity Futures Trading Commission (‘‘CFTC’’) if the broker-dealer is registered with the CFTC as a futures commission merchant. Rule 17a–11 is an integral part of the Commission’s financial responsibility program which enables the Commission, a broker-dealer’s DEA, and the CFTC to increase surveillance of a broker-dealer experiencing difficulties and to obtain any additional information necessary to gauge the broker-dealer’s financial or operational condition. Rule 17a–11 also requires over-thecounter (‘‘OTC’’) derivatives dealers and broker-dealers that are permitted to compute net capital pursuant to Appendix E to Exchange Act Rule 15c3– 1 to notify the Commission when their tentative net capital drops below certain levels. 20 17 E:\FR\FM\27JYN1.SGM CFR 200.30–3(a)(12). 27JYN1 mstockstill on DSK30JT082PROD with NOTICES 35002 Federal Register / Vol. 82, No. 143 / Thursday, July 27, 2017 / Notices To ensure the provision of these types of notices to the Commission, Rule 17a– 11 requires every national securities exchange or national securities association to notify the Commission when it learns that a member brokerdealer has failed to send a notice or transmit a report required under the Rule. Compliance with the Rule is mandatory. The Commission will generally not publish or make available to any person notices or reports received pursuant to Rule 17a–11. The Commission believes that information obtained under Rule 17a–11 relates to a condition report prepared for the use of the Commission, other federal governmental authorities, and securities industry self-regulatory organizations responsible for the regulation or supervision of financial institutions. The Commission expects to receive 253 notices from broker-dealers whose capital declines below certain specified levels or who are otherwise experiencing financial or operational problems and ten notices each year from national securities exchange or national securities association notifying it that a member broker-dealer has failed to send the Commission a notice or transmit a report required under the Rule. The Commission expects that it will take approximately one hour to prepare and transmit each notice. Rule 17a–11 also requires brokerdealers engaged in securities lending or repurchase activities to either: (1) File a notice with the Commission and their DEA whenever the total money payable against all securities loaned, subject to a reverse repurchase agreement or the contract value of all securities borrowed or subject to a repurchase agreement, exceeds 2,500% of tentative net capital; or, alternatively, (2) report monthly their securities lending and repurchase activities to their DEA in a form acceptable to their DEA. The Commission estimates that, annually, six broker-dealers will submit the monthly stock loan/borrow report. The Commission estimates each firm will spend, on average, approximately one hour per month (or twelve hours per year) of employee resources to prepare and send the report or to prepare the information for the FOCUS report (as required by the firm’s DEA, if applicable). Therefore, the Commission estimates the total annual reporting burden arising from this section of the amendment will be approximately 72 hours.1 Therefore, the total annual reporting burden associated with Rule 17a–11 is approximately 335 hours.2 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 current 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 21, 2017. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–15779 Filed 7–26–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81184; File No. SR– PEARL–2017–32] Self-Regulatory Organizations; MIAX PEARL, LLC ; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 404, Series of Option Contracts Open for Trading July 21, 2017. Pursuant to the provisions of 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 11, 2017, MIAX PEARL, LLC (‘‘MIAX PEARL’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I and II 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. 2 253 + 10 + 72. U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. broker-dealers × 12 hours per year = 72 hours. VerDate Sep<11>2014 19:17 Jul 26, 2017 Jkt 241001 PO 00000 Frm 00080 Fmt 4703 The Exchange is filing a proposal to amend Exchange Rule 404, Series of Option Contracts Open for Trading, Interpretations and Policies .10, to include the iShares S&P 500 Index ETF (‘‘IVV’’) in the list of Exchange-Traded Funds (‘‘ETFs’’) that are eligible for $1 strike price intervals. The text of the proposed rule change is available on the Exchange’s Web site at http://www.miaxoptions.com/rulefilings/pearl at MIAX PEARL’s principal office, 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Exchange Rule 404, Series of Option Contracts Open for Trading, to modify the strike setting regime for IVV options by including IVV in the list of ETFs that are eligible for $1 strike price intervals under Interpretations and Policies .10. The Exchange notes that this is a competitive filing based on an immediately effective filing recently submitted by the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’).3 Specifically, the Exchange proposes to modify the interval setting regime for IVV options to allow $1 strike price intervals above $200. The Exchange believes that the proposed rule change would make IVV options easier for investors and traders to use and more tailored to their investment needs. Additionally, the interval setting regime the Exchange proposes to apply to IVV options is currently applied to options on units of the Standard & Poor’s 3 See Securities Exchange Act Release No. 80913 (June 13, 2017), 82 FR 27907 (June 19, 2017) (SR– CBOE–2017–048). 1 15 16 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Sfmt 4703 E:\FR\FM\27JYN1.SGM 27JYN1

Agencies

[Federal Register Volume 82, Number 143 (Thursday, July 27, 2017)]
[Notices]
[Pages 35001-35002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15779]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-094; OMB Control No. 3235-0085]


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:
    Rule 17a-11

    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'') has submitted to the Office of Management and Budget a 
request for approval of extension of the previously approved collection 
of information provided for in Rule 17a-11 (17 CFR 240.17a-11) under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'').
    In response to an operational crisis in the securities industry 
between 1967 and 1970, the Commission adopted Rule 17a-11 under the 
Exchange Act on July 11, 1971. Rule 17a-11 requires broker-dealers that 
are experiencing financial or operational difficulties to provide 
notice to the Commission, the broker-dealer's designated examining 
authority (``DEA''), and the Commodity Futures Trading Commission 
(``CFTC'') if the broker-dealer is registered with the CFTC as a 
futures commission merchant. Rule 17a-11 is an integral part of the 
Commission's financial responsibility program which enables the 
Commission, a broker-dealer's DEA, and the CFTC to increase 
surveillance of a broker-dealer experiencing difficulties and to obtain 
any additional information necessary to gauge the broker-dealer's 
financial or operational condition.
    Rule 17a-11 also requires over-the-counter (``OTC'') derivatives 
dealers and broker-dealers that are permitted to compute net capital 
pursuant to Appendix E to Exchange Act Rule 15c3-1 to notify the 
Commission when their tentative net capital drops below certain levels.

[[Page 35002]]

    To ensure the provision of these types of notices to the 
Commission, Rule 17a-11 requires every national securities exchange or 
national securities association to notify the Commission when it learns 
that a member broker-dealer has failed to send a notice or transmit a 
report required under the Rule.
    Compliance with the Rule is mandatory. The Commission will 
generally not publish or make available to any person notices or 
reports received pursuant to Rule 17a-11. The Commission believes that 
information obtained under Rule 17a-11 relates to a condition report 
prepared for the use of the Commission, other federal governmental 
authorities, and securities industry self-regulatory organizations 
responsible for the regulation or supervision of financial 
institutions.
    The Commission expects to receive 253 notices from broker-dealers 
whose capital declines below certain specified levels or who are 
otherwise experiencing financial or operational problems and ten 
notices each year from national securities exchange or national 
securities association notifying it that a member broker-dealer has 
failed to send the Commission a notice or transmit a report required 
under the Rule. The Commission expects that it will take approximately 
one hour to prepare and transmit each notice.
    Rule 17a-11 also requires broker-dealers engaged in securities 
lending or repurchase activities to either: (1) File a notice with the 
Commission and their DEA whenever the total money payable against all 
securities loaned, subject to a reverse repurchase agreement or the 
contract value of all securities borrowed or subject to a repurchase 
agreement, exceeds 2,500% of tentative net capital; or, alternatively, 
(2) report monthly their securities lending and repurchase activities 
to their DEA in a form acceptable to their DEA.
    The Commission estimates that, annually, six broker-dealers will 
submit the monthly stock loan/borrow report. The Commission estimates 
each firm will spend, on average, approximately one hour per month (or 
twelve hours per year) of employee resources to prepare and send the 
report or to prepare the information for the FOCUS report (as required 
by the firm's DEA, if applicable). Therefore, the Commission estimates 
the total annual reporting burden arising from this section of the 
amendment will be approximately 72 hours.\1\
---------------------------------------------------------------------------

    \1\ 6 broker-dealers x 12 hours per year = 72 hours.
---------------------------------------------------------------------------

    Therefore, the total annual reporting burden associated with Rule 
17a-11 is approximately 335 hours.\2\
---------------------------------------------------------------------------

    \2\ 253 + 10 + 72.
---------------------------------------------------------------------------

    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 current 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 21, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-15779 Filed 7-26-17; 8:45 am]
 BILLING CODE 8011-01-P