Submission for OMB Review; Comment Request, 17697-17698 [2018-08402]

Download as PDF Federal Register / Vol. 83, No. 78 / Monday, April 23, 2018 / Notices burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act 7 and subparagraph (f)(6) of Rule 19b–4 thereunder.8 A proposed rule change filed under Rule 19b–4(f)(6) 9 normally does not become operative prior to 30 days after the date of the filing. However, Rule 19b–4(f)(6)(iii) 10 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission to waive the 30day operative delay so that the proposal will become operative upon filing. The Exchange stated that removing the duplicative CAT Rules, as discussed above, will bring greater clarity to its rulebook and will eliminate any potential confusion to the benefit of its members and investors. Therefore, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission hereby waives the operative delay and designates the proposed rule change as operative upon filing.11 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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. 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. 7 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange’s intent to file the proposed rule change, along with a brief description and text of 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. 9 17 CFR 240.19b–4(f)(6). 10 17 CFR 240.19b–4(f)(6)(iii). 11 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). amozie on DSK30RV082PROD with NOTICES 8 17 VerDate Sep<11>2014 17:09 Apr 20, 2018 Jkt 244001 Comments may be submitted by any of the following methods: SECURITIES AND EXCHANGE COMMISSION Electronic Comments 17697 Submission for OMB Review; Comment Request • 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– BX–2018–013 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–BX–2018–013. 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–BX–2018–013 and should be submitted on or before May 14, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–08356 Filed 4–20–18; 8:45 am] BILLING CODE 8011–01–P 12 17 PO 00000 CFR 200.30–3(a)(12). Frm 00056 Fmt 4703 Sfmt 4703 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Extension: Rule 23c–1, SEC File No. 270–253, OMB Control No. 3235–0260 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350l-3520), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 23c–1(a) under the Investment Company Act (17 CFR 270.23c–1(a)) permits a closed-end fund to repurchase its securities for cash if, in addition to the other requirements set forth in the rule, the following conditions are met: (i) Payment of the purchase price is accompanied or preceded by a written confirmation of the purchase (‘‘written confirmation’’); (ii) the asset coverage per unit of the security to be purchased is disclosed to the seller or his agent (‘‘asset coverage disclosure’’); and (iii) if the security is a stock, the fund has, within the preceding six months, informed stockholders of its intention to purchase stock (‘‘six month notice’’). Commission staff estimates that 91 closed-end funds undertake a total of 364 repurchases annually under rule 23c–1.1 Staff estimates further that, with respect to each repurchase, each fund spends 2.5 hours to comply with the rule’s written confirmation, asset coverage disclosure and six month notice requirements. Thus, Commission staff estimates the total annual respondent reporting burden is 910 1 The number of closed-end funds that undertake repurchases annually under rule 23c–1 is based on information provided in response to Item 9 of Form N–CSR from January 1, 2017 through December 31, 2017. Although 136 closed-end funds made disclosures regarding ‘‘publicly announced’’ repurchase plans in response to Item 9, not all repurchases are made pursuant to rule 23c–1. We estimate that approximately 30% of such closedend funds have not made repurchases pursuant to rule 23c–1. Therefore, our estimate does not include all 136 funds that made disclosures of publicly announced repurchases under Item 9, but only a subset thereof (91 funds). We also estimate that each of the 91 funds undertook an average of 4 repurchases annually (91 funds × 4 repurchases = 364 repurchases annually). E:\FR\FM\23APN1.SGM 23APN1 17698 Federal Register / Vol. 83, No. 78 / Monday, April 23, 2018 / Notices amozie on DSK30RV082PROD with NOTICES hours.2 Commission staff further estimates that the cost of the hourly burden per repurchase is $305 (one half hour of a compliance attorney’s time at $345 per hour,3 and two hours of clerical time at $66 per hour 4). The total annual cost for all funds is estimated to be $111,020.5 In addition, the fund must file with the Commission a copy of any written solicitation to purchase securities given by or on behalf of the fund to 10 or more persons. The copy must be filed as an exhibit to Form N–CSR (17 CFR 249.331and 274.128).6 The burden associated with filing Form N–CSR is addressed in the submission related to that form. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. Complying with the collection of information requirements of the rule is mandatory. The filings that the rule requires to be made with the Commission are available to the public. 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 2 This estimate is based on the following calculation: 364 repurchases × 2.5 hours per repurchase = 910 hours. 3 The $345/hour figure for a compliance 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 (includes a CPI inflation adjustment from the 2013 estimate). 4 The $66/hour figure for a compliance 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 (includes a CPI inflation adjustment from the 2013 estimate). 5 This estimate is based on the following calculation: 364 repurchases × $305 per repurchase = $111,020. 6 In addition, Item 9 of Form N–CSR requires closed-end funds to disclose information similar to the information that was required in Form N–23C– 1, which was discontinued in 2004. VerDate Sep<11>2014 17:09 Apr 20, 2018 Jkt 244001 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. United States Small Business Administration. A. Joseph Shepard, Associate Administrator for Investment and Innovation. [FR Doc. 2018–08417 Filed 4–20–18; 8:45 am] BILLING CODE 8025–01–P Dated: April 18, 2018. Eduardo A. Aleman, Assistant Secretary. DEPARTMENT OF STATE [FR Doc. 2018–08402 Filed 4–20–18; 8:45 am] BILLING CODE P SMALL BUSINESS ADMINISTRATION [Public Notice: 10387] 60-Day Notice of Proposed Information Collection: Electronic Choice of Address and Agent Notice of request for public comment. ACTION: Surrender of License of Small Business Investment Company Pursuant to the authority granted to the United States Small Business Administration under the Small Business Investment Act of 1958, as amended, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under the Small Business Investment Company License No. 02/ 72–0557 issued to Mercury Capital, L.P. said license is hereby declared null and void. Dated: April 13, 2018. United States Small Business Administration. Michele Schimpp, Deputy Associate Administrator, Office of Investment and Innovation. [FR Doc. 2018–08415 Filed 4–20–18; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Surrender of License of Small Business Investment Company Pursuant to the authority granted to the United States Small Business Administration under the Small Business Investment Act of 1958, as amended, under Section 309 of the Act and Section 107.1900 of the Small Business Administration Rules and Regulations (13 CFR 107.1900) to function as a small business investment company under the Small Business Investment Company License No. 01/ 01–0396 issued to Seacoast Capital Partners II, L.P., said license is hereby declared null and void. Dated: April 5, 2018. PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 The Department of State is seeking Office of Management and Budget (OMB) approval for the information collection described below. In accordance with the Paperwork Reduction Act of 1995, we are requesting comments on this collection from all interested individuals and organizations. The purpose of this notice is to allow 60 days for public comment preceding submission of the collection to OMB. DATES: The Department will accept comments from the public up to June 22, 2018. ADDRESSES: You may submit comments by any of the following methods: • Web: Persons with access to the internet may comment on this notice by going to www.Regulations.gov. You can search for the document by entering ‘‘Docket Number: DOS–2018–0015’’ in the Search field. Then click the ‘‘Comment Now’’ button and complete the comment form. • Email: PRA_BurdenComments@ state.gov. You must include the DS form number (if applicable), information collection title, and the OMB control number in any correspondence. SUPPLEMENTARY INFORMATION: • Title of Information Collection: Electronic Choice of Address and Agent. • OMB Control Number: 1405–0186. • Type of Request: Extension of a Currently Approved Collection. • Originating Office: CA/VO/L/R. • Form Number: DS–261. • Respondents: Beneficiaries of approved immigrant visa petitions. • Estimated Number of Respondents: 300,000. • Estimated Number of Responses: 300,000. • Average Time per Response: 10 minutes. • Total Estimated Burden Time: 50,000 hours. SUMMARY: E:\FR\FM\23APN1.SGM 23APN1

Agencies

[Federal Register Volume 83, Number 78 (Monday, April 23, 2018)]
[Notices]
[Pages 17697-17698]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08402]


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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 23c-1, SEC File No. 270-253, OMB Control No. 3235-0260

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 350l-3520), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget a request for extension of the previously 
approved collection of information discussed below.
    Rule 23c-1(a) under the Investment Company Act (17 CFR 270.23c-
1(a)) permits a closed-end fund to repurchase its securities for cash 
if, in addition to the other requirements set forth in the rule, the 
following conditions are met: (i) Payment of the purchase price is 
accompanied or preceded by a written confirmation of the purchase 
(``written confirmation''); (ii) the asset coverage per unit of the 
security to be purchased is disclosed to the seller or his agent 
(``asset coverage disclosure''); and (iii) if the security is a stock, 
the fund has, within the preceding six months, informed stockholders of 
its intention to purchase stock (``six month notice''). Commission 
staff estimates that 91 closed-end funds undertake a total of 364 
repurchases annually under rule 23c-1.\1\ Staff estimates further that, 
with respect to each repurchase, each fund spends 2.5 hours to comply 
with the rule's written confirmation, asset coverage disclosure and six 
month notice requirements. Thus, Commission staff estimates the total 
annual respondent reporting burden is 910

[[Page 17698]]

hours.\2\ Commission staff further estimates that the cost of the 
hourly burden per repurchase is $305 (one half hour of a compliance 
attorney's time at $345 per hour,\3\ and two hours of clerical time at 
$66 per hour \4\). The total annual cost for all funds is estimated to 
be $111,020.\5\
---------------------------------------------------------------------------

    \1\ The number of closed-end funds that undertake repurchases 
annually under rule 23c-1 is based on information provided in 
response to Item 9 of Form N-CSR from January 1, 2017 through 
December 31, 2017. Although 136 closed-end funds made disclosures 
regarding ``publicly announced'' repurchase plans in response to 
Item 9, not all repurchases are made pursuant to rule 23c-1. We 
estimate that approximately 30% of such closed-end funds have not 
made repurchases pursuant to rule 23c-1. Therefore, our estimate 
does not include all 136 funds that made disclosures of publicly 
announced repurchases under Item 9, but only a subset thereof (91 
funds). We also estimate that each of the 91 funds undertook an 
average of 4 repurchases annually (91 funds x 4 repurchases = 364 
repurchases annually).
    \2\ This estimate is based on the following calculation: 364 
repurchases x 2.5 hours per repurchase = 910 hours.
    \3\ The $345/hour figure for a compliance 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 (includes a CPI inflation 
adjustment from the 2013 estimate).
    \4\ The $66/hour figure for a compliance 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 (includes a CPI inflation adjustment from the 
2013 estimate).
    \5\ This estimate is based on the following calculation: 364 
repurchases x $305 per repurchase = $111,020.
---------------------------------------------------------------------------

    In addition, the fund must file with the Commission a copy of any 
written solicitation to purchase securities given by or on behalf of 
the fund to 10 or more persons. The copy must be filed as an exhibit to 
Form N-CSR (17 CFR 249.331and 274.128).\6\ The burden associated with 
filing Form N-CSR is addressed in the submission related to that form.
---------------------------------------------------------------------------

    \6\ In addition, Item 9 of Form N-CSR requires closed-end funds 
to disclose information similar to the information that was required 
in Form N-23C-1, which was discontinued in 2004.
---------------------------------------------------------------------------

    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act, and is not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms.
    Complying with the collection of information requirements of the 
rule is mandatory. The filings that the rule requires to be made with 
the Commission are available to the public. 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: 
[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 send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: April 18, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08402 Filed 4-20-18; 8:45 am]
 BILLING CODE P
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