Proposed Collection; Comment Request, 6075-6076 [2018-02796]

Download as PDF Federal Register / Vol. 83, No. 29 / Monday, February 12, 2018 / Notices higher volumes of orders into the price and volume discovery processes. The proposed modification of the Single MPID Investor Tier 1 under footnote 4 should further incentive Members to send a higher level of orders to the Exchange in order to meet the tier’s decreased criteria. The Exchange believes that by decreasing the tier’s criteria, although modestly, it will encourage those Members who could not achieve the tier previously to increase their order flow as a means to receive the tier’s enhanced rebate on an MPID basis. Thus, the Exchange believes that the proposed modification is reasonable and equitable because it should provide Members who viewed the current criteria as too high and did not previously attempt to achieve the tier’s criteria with an incentive to add order flow to reach the new lower threshold. The proposed modification is non-discriminatory because it applies and is available to all Members. daltland on DSKBBV9HB2PROD with NOTICES (B) Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that the proposed change to the its tiered pricing structure burdens competition, but instead, enhances competition as it is intended to increase the competitiveness of BZX by modifying pricing incentives in order to attract order flow and incentivize participants to increase their participation on the Exchange. The Exchange notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee structures to be unreasonable or excessive. The Exchange does not believe the proposed amendments would burden intramarket competition as they would be available to all Members uniformly. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from Members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) VerDate Sep<11>2014 19:23 Feb 09, 2018 Jkt 244001 of the Act 14 and paragraph (f) of Rule 19b–4 thereunder.15 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. 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– CboeBZX–2018–007 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–CboeBZX–2018–007. 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 website (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 website 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. Persons submitting comments are cautioned that we do not redact or edit 14 15 15 17 PO 00000 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f). Frm 00101 Fmt 4703 personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CboeBZX–2018–007 and should be submitted on or before March 5, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–02725 Filed 2–9–18; 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 206(3)–2, SEC File No. 270–216, OMB Control No. 3235–0243 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 (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 206(3)–2, (17 CFR 275.206(3)–2) which is entitled ‘‘Agency Cross Transactions for Advisory Clients,’’ permits investment advisers to comply with section 206(3) of the Investment Advisers Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80b–6(3)) by obtaining a client’s blanket consent to enter into agency cross transactions (i.e., a transaction in which an adviser acts as a broker to both the advisory client and the opposite party to the transaction), provided that certain disclosures are made to the client. Rule 206(3)–2 applies to all registered investment advisers. In relying on the rule, investment advisers must provide certain disclosures to their clients. Advisory clients can use the disclosures to monitor agency cross transactions that affect their advisory account. The Commission also uses the information required by Rule 206(3)–2 in connection with its investment adviser inspection program to ensure that advisers are in compliance with the 16 17 Sfmt 4703 6075 E:\FR\FM\12FEN1.SGM CFR 200.30–3(a)(12). 12FEN1 daltland on DSKBBV9HB2PROD with NOTICES 6076 Federal Register / Vol. 83, No. 29 / Monday, February 12, 2018 / Notices rule. Without the information collected under the rule, advisory clients would not have information necessary for monitoring their adviser’s handling of their accounts and the Commission would be less efficient and effective in its inspection program. The information requirements of the rule consist of the following: (1) Prior to obtaining the client’s consent appropriate disclosure must be made to the client as to the practice of, and the conflicts of interest involved in, agency cross transactions; (2) at or before the completion of any such transaction the client must be furnished with a written confirmation containing specified information and offering to furnish upon request certain additional information; and (3) at least annually, the client must be furnished with a written statement or summary as to the total number of transactions during the period covered by the consent and the total amount of commissions received by the adviser or its affiliated brokerdealer attributable to such transactions. The Commission estimates that approximately 426 respondents use the rule annually, necessitating about 50 responses per respondent each year, for a total of 21,300 responses. Each response requires an estimated 0.5 hours, for a total of 10,650 hours. The estimated average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or representative survey or study of the cost of Commission rules and forms. This collection of information is found at (17 CFR 275.206(3)–2) and is necessary in order for the investment adviser to obtain the benefits of Rule 206(3)–2. The collection of information requirements under the rule is mandatory. Information subject to the disclosure requirements of Rule 206(3)– 2 does not require submission to the Commission; and, accordingly, the disclosure pursuant to the rule is not kept confidential. Commissionregistered investment advisers are required to maintain and preserve certain information required under Rule 206(3)–2 for five (5) years. The longterm retention of these records is necessary for the Commission’s inspection program to ascertain compliance with the Advisers Act. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid control number. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the VerDate Sep<11>2014 19:23 Feb 09, 2018 Jkt 244001 agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection 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 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 sixty 60 days of this publication. 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: February 7, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–02796 Filed 2–9–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–82640; File No. SR–NYSE– 2018–07] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend Certain of the Governing Documents of Its Intermediate Parent Companies February 6, 2018. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’),2 and Rule 19b–4 thereunder,3 notice is hereby given that, on January 29, 2018, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. 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 Substance of the Proposed Rule Change The Exchange proposes to amend certain of the governing documents of its intermediate parent companies 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 Intercontinental Exchange Holdings, Inc. (‘‘ICE Holdings’’), NYSE Holdings LLC (‘‘NYSE Holdings’’) and NYSE Group, Inc. (‘‘NYSE Group’’) to make a technical change updating the registered office and registered agent in the state of Delaware. The proposed change is available on the Exchange’s website at www.nyse.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 self-regulatory organization 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 those 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 parts 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 certain of the governing documents of its intermediate parent companies ICE Holdings, NYSE Holdings, and NYSE Group to make a technical change updating the registered office and registered agent in the state of Delaware.4 ICE Holdings and NYSE Group are corporations and NYSE Holdings is a limited liability corporation, all organized under the laws of the State of Delaware. As such, they are required to have and maintain a registered office and registered agent in Delaware.5 The Exchange proposes to amend certain of their governing documents to change the registered office and registered agent. More specifically, the Exchange proposes to amend the following provisions in the listed documents 4 Intercontinental Exchange Inc., the ultimate parent of the Exchange, owns 100% of the equity interest in ICE Holdings, which in turn owns 100% of the equity interest in NYSE Holdings. NYSE Holdings owns 100% of the equity interest of NYSE Group, which in turn directly owns 100% of the equity interest of the Exchange and its national securities exchange affiliates, NYSE Arca, Inc., NYSE American LLC and NYSE National, Inc. ICE is a publicly traded company listed on the NYSE. 5 See Del. Code tit 6, § 18–104, and Del. Code tit 8, §§ 131 and 132. E:\FR\FM\12FEN1.SGM 12FEN1

Agencies

[Federal Register Volume 83, Number 29 (Monday, February 12, 2018)]
[Notices]
[Pages 6075-6076]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-02796]


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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 206(3)-2, SEC File No. 270-216, OMB Control No. 3235-0243

    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 (the ``Commission'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget for extension and approval.
    Rule 206(3)-2, (17 CFR 275.206(3)-2) which is entitled ``Agency 
Cross Transactions for Advisory Clients,'' permits investment advisers 
to comply with section 206(3) of the Investment Advisers Act of 1940 
(the ``Act'') (15 U.S.C. 80b-6(3)) by obtaining a client's blanket 
consent to enter into agency cross transactions (i.e., a transaction in 
which an adviser acts as a broker to both the advisory client and the 
opposite party to the transaction), provided that certain disclosures 
are made to the client. Rule 206(3)-2 applies to all registered 
investment advisers. In relying on the rule, investment advisers must 
provide certain disclosures to their clients. Advisory clients can use 
the disclosures to monitor agency cross transactions that affect their 
advisory account. The Commission also uses the information required by 
Rule 206(3)-2 in connection with its investment adviser inspection 
program to ensure that advisers are in compliance with the

[[Page 6076]]

rule. Without the information collected under the rule, advisory 
clients would not have information necessary for monitoring their 
adviser's handling of their accounts and the Commission would be less 
efficient and effective in its inspection program.
    The information requirements of the rule consist of the following: 
(1) Prior to obtaining the client's consent appropriate disclosure must 
be made to the client as to the practice of, and the conflicts of 
interest involved in, agency cross transactions; (2) at or before the 
completion of any such transaction the client must be furnished with a 
written confirmation containing specified information and offering to 
furnish upon request certain additional information; and (3) at least 
annually, the client must be furnished with a written statement or 
summary as to the total number of transactions during the period 
covered by the consent and the total amount of commissions received by 
the adviser or its affiliated broker-dealer attributable to such 
transactions.
    The Commission estimates that approximately 426 respondents use the 
rule annually, necessitating about 50 responses per respondent each 
year, for a total of 21,300 responses. Each response requires an 
estimated 0.5 hours, for a total of 10,650 hours. The estimated average 
burden hours are made solely for the purposes of the Paperwork 
Reduction Act and are not derived from a comprehensive or 
representative survey or study of the cost of Commission rules and 
forms.
    This collection of information is found at (17 CFR 275.206(3)-2) 
and is necessary in order for the investment adviser to obtain the 
benefits of Rule 206(3)-2. The collection of information requirements 
under the rule is mandatory. Information subject to the disclosure 
requirements of Rule 206(3)-2 does not require submission to the 
Commission; and, accordingly, the disclosure pursuant to the rule is 
not kept confidential. Commission-registered investment advisers are 
required to maintain and preserve certain information required under 
Rule 206(3)-2 for five (5) years. The long-term retention of these 
records is necessary for the Commission's inspection program to 
ascertain compliance with the Advisers Act.
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid control number.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the proposed collection 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 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 sixty 60 days of this publication.
    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: [email protected].

    Dated: February 7, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02796 Filed 2-9-18; 8:45 am]
BILLING CODE 8011-01-P
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