Submission for OMB Review; Comment Request, 60921 [2018-25720]

Download as PDF 60921 Federal Register / Vol. 83, No. 228 / Tuesday, November 27, 2018 / Notices 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. amozie on DSK3GDR082PROD with NOTICES1 Extension: Rule 17Ad–15, SEC File No. 270–360, OMB Control No. 3235–0409 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 17Ad–15 (17 CFR 240.17Ad–15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17Ad–15 (17 CFR 240.17Ad–15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’) requires the approximately 373 transfer agents to establish written standards for the acceptance or rejection of guarantees of securities transfers from eligible guarantor institutions. Transfer agents are required to establish procedures to ensure that those standards are used by the transfer agent to determine whether to accept or reject guarantees from eligible guarantor institutions. Transfer agents must maintain, for a period of three years following the date of a rejection of transfer, a record of all transfers rejected, along with the reason for the rejection, identification of the guarantor, and whether the guarantor failed to meet the transfer agent’s guarantee standard. These recordkeeping requirements assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rule. There are approximately 373 registered transfer agents. The staff estimates that each transfer agent will spend about 40 hours annually to comply with Rule 17Ad–15, or a total of 14,920 hours for all transfer agents (373 × 40 hours = 14,920 hours). The Commission staff estimates that compliance staff work at each registered transfer agent will result in an internal cost of compliance (at an estimated hourly wage of $283) of $11,320 per year per transfer agent (40 hours × $283 per hour = $ 11,320 per year). Therefore, the aggregate annual internal cost of compliance for the approximately 373 registered transfer agents is VerDate Sep<11>2014 17:45 Nov 26, 2018 Jkt 247001 approximately $4,222,360 ($11,320 × 373 = $4,222,360). This rule does not involve the collection of confidential information. 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, 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: Lindsay.abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 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: November 20, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–25720 Filed 11–26–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84631; File No. SR– CboeBZX–2018–082] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Amend Its Rules Regarding How the System Handles Market Orders in Series With No Bid or No Offer November 20, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on November 16, 2018, Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ‘‘non-controversial’’ proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). Rule 19b–4(f)(6) thereunder.4 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 Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX Options’’) proposes to amend its Rules regarding how the System handles Market Orders in series with no bid or no offer. (additions are italicized; deletions are [bracketed]) * * * * * Rules of Cboe BZX Exchange, Inc. * * * * Rule 21.17. Additional Price Protection Mechanisms and Risk Controls The System’s acceptance and execution of orders and quotes are subject to the price protection mechanisms and risk controls in Rule 21.16, this Rule 21.17 and as otherwise set forth in the Rules. All numeric values established by the Exchange pursuant to this Rule will be maintained by the Exchange in publicly available specifications and/or published in a Regulatory Circular. Unless otherwise specified the price protections set forth in this Rule, including the numeric values established by the Exchange, may not be disabled or adjusted. The Exchange may share any of a User’s risk settings with the Clearing Member that clears transactions on behalf of the User. (a)–(d) No change. (e) Market Orders in No-Bid (Offer) Series. (1) If the System receives a sell Market Order in a series after it is open for trading with an NBB of zero: (A) if the NBO in the series is less than or equal to $0.50, then the System converts the Market Order to a Limit Order with a limit price equal to the minimum trading increment applicable to the series and enters the order into the BZX Options Book with a timestamp based on the time it enters the Book. If the order has a Time-in-Force of GTC or GTD that expires on a subsequent day, the order remains on the Book as a Limit Order until it executes, expires, or the User cancels it. (B) if the NBO in the series is greater than $0.50, then the System cancels or rejects the market order. (2) If the System receives a buy market order in a series after it is open for trading with an NBO of zero, the System cancels or rejects the market order. * * * * * The text of the proposed rule change is also available on the Exchange’s website (https://www.cboe.com/ AboutCBOE/ CBOELegalRegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 2 17 PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 * 4 17 CFR 240.19b–4(f)(6). E:\FR\FM\27NON1.SGM 27NON1

Agencies

[Federal Register Volume 83, Number 228 (Tuesday, November 27, 2018)]
[Notices]
[Page 60921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25720]



[[Page 60921]]

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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 17Ad-15, SEC File No. 270-360, OMB Control No. 3235-0409

    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 
17Ad-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-15 (17 CFR 240.17Ad-15) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.) (the ``Act'') requires the 
approximately 373 transfer agents to establish written standards for 
the acceptance or rejection of guarantees of securities transfers from 
eligible guarantor institutions. Transfer agents are required to 
establish procedures to ensure that those standards are used by the 
transfer agent to determine whether to accept or reject guarantees from 
eligible guarantor institutions. Transfer agents must maintain, for a 
period of three years following the date of a rejection of transfer, a 
record of all transfers rejected, along with the reason for the 
rejection, identification of the guarantor, and whether the guarantor 
failed to meet the transfer agent's guarantee standard. These 
recordkeeping requirements assist the Commission and other regulatory 
agencies with monitoring transfer agents and ensuring compliance with 
the rule.
    There are approximately 373 registered transfer agents. The staff 
estimates that each transfer agent will spend about 40 hours annually 
to comply with Rule 17Ad-15, or a total of 14,920 hours for all 
transfer agents (373 x 40 hours = 14,920 hours). The Commission staff 
estimates that compliance staff work at each registered transfer agent 
will result in an internal cost of compliance (at an estimated hourly 
wage of $283) of $11,320 per year per transfer agent (40 hours x $283 
per hour = $ 11,320 per year). Therefore, the aggregate annual internal 
cost of compliance for the approximately 373 registered transfer agents 
is approximately $4,222,360 ($11,320 x 373 = $4,222,360).
    This rule does not involve the collection of confidential 
information.
    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, 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) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 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: November 20, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-25720 Filed 11-26-18; 8:45 am]
BILLING CODE 8011-01-P
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