Submission for OMB Review; Comment Request, 12069-12070 [2018-05522]

Download as PDF Federal Register / Vol. 83, No. 53 / Monday, March 19, 2018 / Notices 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– Phlx–2018–21 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. sradovich on DSK3GMQ082PROD with NOTICES All submissions should refer to File Number SR–Phlx–2018–21. 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 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–Phlx–2018–21 and should be submitted on or before April 9, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.22 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–05450 Filed 3–16–18; 8:45 am] BILLING CODE 8011–01–P 22 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 16:43 Mar 16, 2018 Jkt 244001 SECURITIES AND EXCHANGE COMMISSION 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 9b–1, SEC File No. 270–429, OMB Control No. 3235–0480. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in Rule 9b–1 (17 CFR 240.9b–1), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 9b–1 (17 CFR 240.9b–1) sets forth the categories of information required to be disclosed in an options disclosure document (‘‘ODD’’) and requires the options markets to file an ODD with the Commission 60 days prior to the date it is distributed to investors. In addition, Rule 9b–1 provides that the ODD must be amended if the information in the document becomes materially inaccurate or incomplete and that amendments must be filed with the Commission 30 days prior to the distribution to customers. Finally, Rule 9b–1 requires a broker-dealer to furnish to each customer an ODD and any amendments, prior to accepting an order to purchase or sell an option on behalf of that customer. There are 15 options markets 1 that must comply with Rule 9b–1. These respondents work together to prepare a single ODD covering options traded on each market, as well as amendments to the ODD. These respondents file approximately 3 amendments per year. The staff calculates that the preparation and filing of amendments should take no more than eight hours per options market. Thus, the total time burden for options markets per year is 360 hours (15 options markets × 8 hours per amendment × 3 amendments). The estimated cost for an in-house attorney 1 The fifteen options markets are as follows: The fifteen options markets are as follows: BOX Options Exchange LLC, Cboe BZX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., Miami International Securities Exchange LLC, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX LLC, the Nasdaq Options Market (NOM), NYSE Arca, Inc., and NYSE American LLC. PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 12069 is $412 per hour,2 resulting in a total internal cost of compliance for these respondents of $148,320 per year (360 hours at $412 per hour). In addition, approximately 1,144 broker-dealers 3 must comply with Rule 9b–1. Each of these respondents will process an average of 3 new customers for options each week and, therefore, will have to furnish approximately 156 ODDs per year. The postal mailing or electronic delivery of the ODD takes respondents no more than 30 seconds to complete for an annual compliance burden for each of these respondents of 78 minutes or 1.3 hours. Thus, the total time burden per year for broker-dealers is 1,487 hours (1,144 broker-dealers × 1.3 hours). The estimated cost for a general clerk of a broker-dealer is $62 per hour,4 resulting in a total internal cost of compliance for these respondents of $92,194 per year (1,487 hours at $62 per hour). The total time burden for all respondents under this rule (both options markets and broker-dealers) is 1,847 hours per year (360 + 1,487), and the total internal cost of compliance is $240,514 ($148,320 + $92,124). 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. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Comments should be directed to (i) Desk Officer for the Securities and Exchange Commission, 2 SIFMA did its last annual survey in 2013 and will not resume the survey process. Accordingly, the $412 figure is based on the 2013 figure ($380) adjusted by the inflation rate calculated using the Bureau of Labor Statistics’ CPI Inflation Calculator. The $380 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 an 1800-hour workyear and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. 3 The estimate of 1,144 broker-dealers required to comply with Rule 9b–1 is derived from Item 12 of the Form BD (OMB Control No. 3235–0012). This estimate may be high as it includes broker-dealers that engage in only a proprietary business, and as a result are not required to deliver an ODD, as well as those broker-dealers subject to Rule 9b–1. 4 The $62 figure is based on the 2013 figure ($57) adjusted for inflation. See supra note 1. As noted above, SIFMA did its last annual survey in 2013 and will not resume the survey process. Accordingly, the $62 figure is based on the 2013 figure ($57) adjusted for inflation. The $57 per hour figure for a General Clerk is from SIFMA’s Office Salaries in the Securities Industry 2013, modified by Commission staff to account for an 1800-hour work-year and multiplied by 2.93 to account for bonuses, firm size, employee benefits and overhead. The staff believes that the ODD would be mailed or electronically delivered to customers by a general clerk of the broker-dealer or some other equivalent position. E:\FR\FM\19MRN1.SGM 19MRN1 12070 Federal Register / Vol. 83, No. 53 / Monday, March 19, 2018 / Notices 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: March 14, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–05522 Filed 3–16–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 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. sradovich on DSK3GMQ082PROD with NOTICES Extension: Credit Risk Retention—Regulation RR, SEC File No. 270–613, OMB Control No. 3235–0712. 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 this request for extension of the previously approved collection of information discussed below. Credit Risk Retention (‘‘Regulation RR’’) (17 CFR 246.1 through 246.22) recordkeeping and disclosure requirements implement Section 15G of the Securities Exchange Act of 1934 (15 U.S.C. 78o–11) Section 15G clarifies the scope and application of Section 306(a) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7244(a)). Section 306(a) of the Sarbanes-Oxley Act requires, among other things, an issuer to provide timely notice to its directors and executive officers and to the Commission of the imposition of a blackout period that would trigger a trading prohibition under Section 306(a)(1) of the SarbanesOxley Act. Section 306(a)(1) prohibits any director or executive officer of an issuer of any equity security, from directly or indirectly, purchasing, selling or otherwise acquiring or transferring any equity security of that issuer during the blackout period with VerDate Sep<11>2014 16:43 Mar 16, 2018 Jkt 244001 respect to such equity security, if the director or executive officer acquired the equity security in connection with his or her service or employment. Approximately 1,647 issuers file using Regulation RR responses and it takes approximately 14.389 hours per response. We estimate that 75% of the 14.389 hours per response (10.792 hours) is prepared by the registrant for a total annual reporting burden of 17,774 hours (10.792 hours per response × 1,647 responses). 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. The public may view the background documentation for this information collection at the following website, 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 send an email to: PRA_Mailbox@ sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: March 14, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–05523 Filed 3–16–18; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF STATE [Public Notice: 10359] Notice of Public Meeting The Department of State will conduct an open meeting at 10:00 a.m. on Monday, April 16th, 2018, in Room 7M15–01, United States Coast Guard Headquarters, 2703 Martin Luther King Jr. Ave. SE, Washington, DC 20593– 7213. The primary purpose of the meeting is to prepare for the 105th session of the International Maritime Organization’s (IMO) Legal Committee to be held at the IMO Headquarters, United Kingdom, April 23–25, 2018. The agenda items to be considered include: —Facilitation of the entry into force and harmonized interpretation of the 2010 HNS Protocol —Provision of financial security in case of abandonment of seafarers, and PO 00000 Frm 00117 Fmt 4703 Sfmt 9990 shipowners’ responsibilities in respect of contractual claims for personal injury to, or death of seafarers, in light of the progress of amendments to the ILO Maritime Labour Convention, 2006 —Fair treatment of seafarers in the event of a maritime accident —Advice and guidance in connection with the implementation of IMO instruments —Piracy —Matters arising from the 118th and 119th regular sessions of the Council, the twenty-ninth extraordinary session of the Council and the thirtieth regular session of the Assembly —Technical cooperation activities related to maritime legislation —Review of the status of conventions and other treaty instruments emanating from the Legal Committee —Work programme —Election of officers —Any other business Members of the public may attend this meeting up to the seating capacity of the room. Upon request to the meeting coordinator, members of the public may also participate via teleconference, up to the capacity of the teleconference phone line. To access the teleconference line, participants should call (202) 475–4000 and use Participant Code: 887 809 72. To facilitate the building security process, and to request reasonable accommodation, those who plan to attend should contact the meeting coordinator, Stephen Hubchen, by email at stephen.k.hubchen@ uscg.mil, by phone at (202) 372–1198, or in writing at 2703 Martin Luther King Jr. Ave. SE, Stop 7509, Washington DC 20593–7509 not later than April 10, 2018, 4 business days prior to the meeting. Requests made after April 10, 2018 might not be able to be accommodated, and same day requests will not be accommodated due to the building’s security process. Please note that due to security considerations, two valid, government issued photo identifications must be presented to gain entrance to the Coast Guard Headquarters. Coast Guard Headquarters is accessible by taxi, public transportation, and privately owned conveyance (upon request). Additional information regarding this and other IMO public meetings may be found at: www.uscg.mil/imo. Joel C. Coito, Coast Guard Liaison Officer, Office of Ocean and Polar Affairs, Department of State. [FR Doc. 2018–05480 Filed 3–16–18; 8:45 am] BILLING CODE 4710–09–P E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

[Federal Register Volume 83, Number 53 (Monday, March 19, 2018)]
[Notices]
[Pages 12069-12070]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-05522]


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SECURITIES AND EXCHANGE COMMISSION


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 9b-1, SEC File No. 270-429, OMB Control No. 3235-0480.

    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'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 9b-1 
(17 CFR 240.9b-1), under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.).
    Rule 9b-1 (17 CFR 240.9b-1) sets forth the categories of 
information required to be disclosed in an options disclosure document 
(``ODD'') and requires the options markets to file an ODD with the 
Commission 60 days prior to the date it is distributed to investors. In 
addition, Rule 9b-1 provides that the ODD must be amended if the 
information in the document becomes materially inaccurate or incomplete 
and that amendments must be filed with the Commission 30 days prior to 
the distribution to customers. Finally, Rule 9b-1 requires a broker-
dealer to furnish to each customer an ODD and any amendments, prior to 
accepting an order to purchase or sell an option on behalf of that 
customer.
    There are 15 options markets \1\ that must comply with Rule 9b-1. 
These respondents work together to prepare a single ODD covering 
options traded on each market, as well as amendments to the ODD. These 
respondents file approximately 3 amendments per year. The staff 
calculates that the preparation and filing of amendments should take no 
more than eight hours per options market. Thus, the total time burden 
for options markets per year is 360 hours (15 options markets x 8 hours 
per amendment x 3 amendments). The estimated cost for an in-house 
attorney is $412 per hour,\2\ resulting in a total internal cost of 
compliance for these respondents of $148,320 per year (360 hours at 
$412 per hour).
---------------------------------------------------------------------------

    \1\ The fifteen options markets are as follows: The fifteen 
options markets are as follows: BOX Options Exchange LLC, Cboe BZX 
Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGX Exchange, Inc., 
Cboe Exchange, Inc., Miami International Securities Exchange LLC, 
MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, 
Nasdaq MRX, LLC, Nasdaq PHLX LLC, the Nasdaq Options Market (NOM), 
NYSE Arca, Inc., and NYSE American LLC.
    \2\ SIFMA did its last annual survey in 2013 and will not resume 
the survey process. Accordingly, the $412 figure is based on the 
2013 figure ($380) adjusted by the inflation rate calculated using 
the Bureau of Labor Statistics' CPI Inflation Calculator. The $380 
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 an 1800-hour work-year and 
multiplied by 5.35 to account for bonuses, firm size, employee 
benefits and overhead.
---------------------------------------------------------------------------

    In addition, approximately 1,144 broker-dealers \3\ must comply 
with Rule 9b-1. Each of these respondents will process an average of 3 
new customers for options each week and, therefore, will have to 
furnish approximately 156 ODDs per year. The postal mailing or 
electronic delivery of the ODD takes respondents no more than 30 
seconds to complete for an annual compliance burden for each of these 
respondents of 78 minutes or 1.3 hours. Thus, the total time burden per 
year for broker-dealers is 1,487 hours (1,144 broker-dealers x 1.3 
hours). The estimated cost for a general clerk of a broker-dealer is 
$62 per hour,\4\ resulting in a total internal cost of compliance for 
these respondents of $92,194 per year (1,487 hours at $62 per hour).
---------------------------------------------------------------------------

    \3\ The estimate of 1,144 broker-dealers required to comply with 
Rule 9b-1 is derived from Item 12 of the Form BD (OMB Control No. 
3235-0012). This estimate may be high as it includes broker-dealers 
that engage in only a proprietary business, and as a result are not 
required to deliver an ODD, as well as those broker-dealers subject 
to Rule 9b-1.
    \4\ The $62 figure is based on the 2013 figure ($57) adjusted 
for inflation. See supra note 1. As noted above, SIFMA did its last 
annual survey in 2013 and will not resume the survey process. 
Accordingly, the $62 figure is based on the 2013 figure ($57) 
adjusted for inflation. The $57 per hour figure for a General Clerk 
is from SIFMA's Office Salaries in the Securities Industry 2013, 
modified by Commission staff to account for an 1800-hour work-year 
and multiplied by 2.93 to account for bonuses, firm size, employee 
benefits and overhead. The staff believes that the ODD would be 
mailed or electronically delivered to customers by a general clerk 
of the broker-dealer or some other equivalent position.
---------------------------------------------------------------------------

    The total time burden for all respondents under this rule (both 
options markets and broker-dealers) is 1,847 hours per year (360 + 
1,487), and the total internal cost of compliance is $240,514 ($148,320 
+ $92,124).
    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.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Comments should 
be directed to (i) Desk Officer for the Securities and Exchange 
Commission,

[[Page 12070]]

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: [email protected]; 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: [email protected]. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: March 14, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-05522 Filed 3-16-18; 8:45 am]
 BILLING CODE 8011-01-P
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