Proposed Collection; Comment Request, 44331 [2018-18847]

Download as PDF Federal Register / Vol. 83, No. 169 / Thursday, August 30, 2018 / Notices 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 amozie on DSK3GDR082PROD with NOTICES1 Extension: Rule 15c2–8, SEC File No. 270–421, OMB Control No. 3235–0481 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 15c2–8 (17 CFR 240.15c2–8). The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 15c2–8 under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) requires broker-dealers to deliver preliminary and/or final prospectuses to certain people under certain circumstances. In connection with securities offerings generally, including initial public offerings (‘‘IPOs’’), the rule requires broker-dealers to take reasonable steps to distribute copies of the preliminary or final prospectus to anyone who makes a written request, as well as any broker-dealer who is expected to solicit purchases of the security and who makes a request. In connection with IPOs, the rule requires a broker-dealer to send a copy of the preliminary prospectus to any person who is expected to receive a confirmation of sale (generally, this means any person who is expected to actually purchase the security in the offering) at least 48 hours prior to the sending of such confirmation. This requirement is sometimes referred to as the ‘‘48 hour rule.’’ Additionally, managing underwriters are required to take reasonable steps to ensure that all broker-dealers participating in the distribution of or trading in the security have sufficient copies of the preliminary or final prospectus, as requested by them, to enable such broker-dealer to satisfy their respective prospectus delivery obligations pursuant to Rule 15c2–8, as well as Section 5 of the Securities Act of 1933. Rule 15c2–8 implicitly requires that broker-dealers collect information, as such collection facilitates compliance with the rule. There is no requirement VerDate Sep<11>2014 17:25 Aug 29, 2018 Jkt 244001 to submit collected information to the Commission. In order to comply with the rule, broker-dealers participating in a securities offering must keep accurate records of persons who have indicated interest in an IPO or requested a prospectus, so that they know to whom they must send a prospectus. The Commission estimates that the time broker-dealers will spend complying with the collection of information required by the rule is 5,950 hours for equity IPOs and 23,300 hours for other offerings. The Commission estimates that the total annualized cost burden (copying and postage costs) is $11,900,000 for IPOs and $932,000 for other offerings. 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 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 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 Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: August 27, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–18847 Filed 8–29–18; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 44331 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–83951; File No. SR–FICC– 2017–806] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of No Objection to an Advance Notice, as Modified by Amendment No. 1, To Amend the Loss Allocation Rules and Make Other Changes August 27, 2018. On December 18, 2017, Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) advance notice SR–FICC–2017–806 pursuant to Section 806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act entitled the Payment, Clearing, and Settlement Supervision Act of 2010 (‘‘Clearing Supervision Act’’) 1 and Rule 19b– 4(n)(1)(i) under the Securities Exchange Act of 1934 (‘‘Act’’) 2 to amend the loss allocation rules and make other conforming and technical changes.3 The 1 12 U.S.C. 5465(e)(1). CFR 240.19b–4(n)(1)(i). 3 On December 18, 2017, FICC filed the advance notice as proposed rule change SR–FICC–2017–022 with the Commission pursuant to Section 19(b)(1) of the Act and Rule 19b–4 thereunder (‘‘Proposed Rule Change’’). 15 U.S.C. 78s(b)(1) and 17 CFR 240.19b–4, respectively. The Proposed Rule Change was published in the Federal Register on January 8, 2018. Securities Exchange Act Release No. 82427 (January 2, 2018), 83 FR 854 (January 8, 2018) (SR– FICC–2017–022). On February 8, 2018, the Commission designated a longer period within which to approve, disapprove, or institute proceedings to determine whether to approve or disapprove the Proposed Rule Change. Securities Exchange Act Release No. 82670 (February 8, 2018), 83 FR 6626 (February 14, 2018) (SR–DTC–2017– 022, SR–FICC–2017–022, SR–NSCC–2017–018). On March 20, 2018, the Commission instituted proceedings to determine whether to approve or disapprove the Proposed Rule Change. Securities Exchange Act Release No. 82909 (March 20, 2018), 83 FR 12990 (March 26, 2018) (SR–FICC–2017– 022). On June 25, 2018, the Commission designated a longer period for Commission action on the proceedings to determine whether to approve or disapprove the Proposed Rule Change. Securities Exchange Act Release No. 83510 (June 25, 2018), 83 FR 30791 (June 29, 2018) (SR–DTC–2017–022, SR– FICC–2017–022, SR–NSCC–2017–018). On June 28, 2018, FICC filed Amendment No. 1 to the Proposed Rule Change, which was published in the Federal Register on July 19, 2018. Securities Exchange Act Release No. 83631 (July 13, 2018), 83 FR 34193 (July 19, 2018) (SR–FICC–2017–022). FICC submitted a courtesy copy of Amendment No. 1 to the Proposed Rule Change through the Commission’s electronic public comment letter mechanism. Accordingly, Amendment No. 1 to the Proposed Rule Change has been publicly available on the Commission’s website at https:// www.sec.gov/rules/sro/ficc.htm since June 29, 2018. The Commission did not receive any comments. The proposal, as set forth in both the advance notice and the Proposed Rule Change, each as modified by Amendments No. 1, shall not take effect until all required regulatory actions are completed. 2 17 E:\FR\FM\30AUN1.SGM 30AUN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 83, Number 169 (Thursday, August 30, 2018)]
[Notices]
[Page 44331]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-18847]



[[Page 44331]]

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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 15c2-8, SEC File No. 270-421, OMB Control No. 3235-0481

    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 15c2-8 (17 CFR 240.15c2-
8). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget for extension and 
approval.
    Rule 15c2-8 under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) requires broker-dealers to deliver preliminary and/or 
final prospectuses to certain people under certain circumstances. In 
connection with securities offerings generally, including initial 
public offerings (``IPOs''), the rule requires broker-dealers to take 
reasonable steps to distribute copies of the preliminary or final 
prospectus to anyone who makes a written request, as well as any 
broker-dealer who is expected to solicit purchases of the security and 
who makes a request. In connection with IPOs, the rule requires a 
broker-dealer to send a copy of the preliminary prospectus to any 
person who is expected to receive a confirmation of sale (generally, 
this means any person who is expected to actually purchase the security 
in the offering) at least 48 hours prior to the sending of such 
confirmation. This requirement is sometimes referred to as the ``48 
hour rule.''
    Additionally, managing underwriters are required to take reasonable 
steps to ensure that all broker-dealers participating in the 
distribution of or trading in the security have sufficient copies of 
the preliminary or final prospectus, as requested by them, to enable 
such broker-dealer to satisfy their respective prospectus delivery 
obligations pursuant to Rule 15c2-8, as well as Section 5 of the 
Securities Act of 1933.
    Rule 15c2-8 implicitly requires that broker-dealers collect 
information, as such collection facilitates compliance with the rule. 
There is no requirement to submit collected information to the 
Commission. In order to comply with the rule, broker-dealers 
participating in a securities offering must keep accurate records of 
persons who have indicated interest in an IPO or requested a 
prospectus, so that they know to whom they must send a prospectus.
    The Commission estimates that the time broker-dealers will spend 
complying with the collection of information required by the rule is 
5,950 hours for equity IPOs and 23,300 hours for other offerings. The 
Commission estimates that the total annualized cost burden (copying and 
postage costs) is $11,900,000 for IPOs and $932,000 for other 
offerings.
    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 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 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 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: August 27, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-18847 Filed 8-29-18; 8:45 am]
 BILLING CODE 8011-01-P

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