Proposed Collection; Comment Request, 62632-62633 [2018-26327]
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Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices
SYSTEM LOCATION:
USPS National Customer Support
Center (NCSC) and USPS IT Eagan Host
Computing Services Center.
CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:
Customers requesting Change of
Address mail forwarding, or Hold Mail
services.
CATEGORIES OF RECORDS IN THE SYSTEM:
1. Customer information: For Change
of Address requests, old and new
address, email address(es), telephone
numbers and device identification; for
Hold Mail, address, email address(es),
and telephone numbers.
2. Online user information: Device
identification.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
18 U.S.C. 1341, 1343 and 3061; 39
U.S.C. 401, 403, 404, 3003 and 3005.
RETENTION AND DISPOSAL:
PURPOSE(S):
1. To enhance the customer
experience by improving the security of
Change of Address (COA) and Hold
Mail processes.
2. To protect USPS customers from
becoming potential victims of mail
fraud and identity theft.
3. To identify and mitigate potential
fraud in the COA and Hold Mail
processes.
4. To verify a customer’s identity
when applying for COA and Hold Mail
services.
5. To facilitate mail fraud prevention
for COA and Hold Mail services through
address matching across USPS customer
systems.
6. To facilitate the provision of
accurate and reliable mail and package
delivery services.
ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM, INCLUDING CATEGORIES OF USERS AND
THE PURPOSES OF SUCH USES:
Standard routine uses 1. through 7, 10
and 11. apply.
POLICIES AND PRACTICES FOR STORING,
RETRIEVING, ACCESSING, RETAINING, AND
DISPOSING OF RECORDS IN THE SYSTEM:
controlled-access areas under
supervision of program personnel.
Access to records is limited to
individuals whose official duties require
such access. Contractors and licensees
are subject to contract controls and
unannounced on-site audits and
inspections.
Computers are protected by
mechanical locks, card key systems, or
other physical access control methods.
The use of computer systems is
regulated with installed security
software, computer logon
identifications, and operating system
controls including access controls,
terminal and transaction logging, and
file management software.
Online data transmission is protected
by encryption, dedicated lines, and
authorized access codes.
COA and Hold Mail records are
retained in an electronic database for 10
years from the effective date.
Electronic records existing on
computer storage media are destroyed
according to the applicable USPS media
sanitization practice.
SYSTEM MANAGER(S) AND ADDRESS:
Vice President, Product Innovation,
United States Postal Service, 475
L’Enfant Plaza SW, Washington, DC
20260.
NOTIFICATION PROCEDURE:
Customers wanting to know if
information about them is maintained in
this system of records must address
inquiries in writing to the system
manager. Inquiries must contain name,
address, email, and other identifying
information.
RECORD ACCESS PROCEDURES:
Requests for access must be made in
accordance with the Notification
Procedure above and the USPS Privacy
Act regulations regarding access to
records and verification of identity
under 39 CFR 266.5.
CONTESTING RECORD PROCEDURES:
See Notification Procedure and
Record Access Procedures above.
STORAGE:
Automated databases.
RETRIEVABILITY:
RECORD SOURCE CATEGORIES:
Retrieval is accomplished by a
computer-based system, using one or
more of the following elements: ZIP
Code(s), address, telephone number,
email address, device identification
and/or IP address.
Individual customers requesting
Change of Address, mail forwarding, or
Hold Mail services and other USPS
customer systems.
*
*
*
*
*
SAFEGUARDS:
Electronic records, computers, and
computer storage media are located in
VerDate Sep<11>2014
17:36 Dec 03, 2018
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Brittany M. Johnson,
Attorney, Federal Compliance.
[FR Doc. 2018–26310 Filed 12–3–18; 8:45 am]
BILLING CODE P
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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 17f–4, SEC File No. 270–232,
OMB Control No. 3235–0225.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520) (the ‘‘Paperwork
Reduction Act’’), 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.
Section 17(f) (15 U.S.C. 80a–17(f))
under the Investment Company Act of
1940 (the ‘‘Act’’) 1 permits registered
management investment companies and
their custodians to deposit the securities
they own in a system for the central
handling of securities (‘‘securities
depositories’’), subject to rules adopted
by the Commission.
Rule 17f–4 (17 CFR 270.17f–4) under
the Act specifies the conditions for the
use of securities depositories by funds 2
and their custodians.
The Commission staff estimates that
142 respondents (including an
estimated 80 active funds that may deal
directly with a securities depository, an
estimated 49 custodians, and 13
possible securities depositories) 3 are
subject to the requirements in rule 17f–
4. The rule is elective, but most, if not
all, funds use depository custody
arrangements.4
1 15
U.S.C. 80a.
amended in 2003, rule 17f–4 permits any
registered investment company, including a unit
investment trust or a face-amount certificate
company, to use a security depository. See Custody
of Investment Company Assets With a Securities
Depository, Investment Company Act Release No.
25934 (Feb. 13, 2003) (68 FR 8438 (Feb. 20, 2003)).
The term ‘‘fund’’ is used in this Notice to mean a
registered investment company.
3 The Commission staff estimates that, as
permitted by the rule, an estimated 2% of all active
funds may deal directly with a securities depository
instead of using an intermediary. The number of
custodians is estimated based on information from
Morningstar DirectSM. The Commission staff
estimates the number of possible securities
depositories by adding the 12 Federal Reserve
Banks and one active registered clearing agency.
The Commission staff recognizes that not all of
these entities may currently be acting as a securities
depository for fund securities.
4 Based on responses to Item 18 of Form N–SAR
(17 CFR 274.101), approximately 97 percent of
2 As
E:\FR\FM\04DEN1.SGM
04DEN1
Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices
Rule 17f–4 contains two general
conditions. First, a fund’s custodian
must be obligated, at a minimum, to
exercise due care in accordance with
reasonable commercial standards in
discharging its duty as a securities
intermediary to obtain and thereafter
maintain financial assets. If the fund
deals directly with a depository, the
depository’s contract or written rules for
its participants must provide that the
depository will meet similar obligations.
All funds that deal directly with
securities depositories in reliance on
rule 17f–4 should have either modified
their contracts with the relevant
securities depository, or negotiated a
modification in the securities
depository’s written rules when the rule
was amended. Therefore, we estimate
there is no ongoing burden associated
with this collection of information.5
Second, the custodian must provide,
promptly upon request by the fund,
such reports as are available about the
internal accounting controls and
financial strength of the custodian. If a
fund deals directly with a depository,
the depository’s contract with or written
rules for its participants must provide
that the depository will provide similar
financial reports. Custodians and
depositories usually transmit financial
reports to funds twice each year.6 The
Commission staff estimates that 49
custodians spend approximately 914
hours (by support staff) annually in
transmitting such reports to funds.7 In
addition, approximately 80 funds (i.e.,
two percent of all funds) deal directly
with a securities depository and may
request periodic reports from their
depository. Commission staff estimates
that depositories spend approximately
19 hours (by support staff) annually
funds’ custodians maintain some or all fund
securities in a securities depository pursuant to rule
17f–4.
5 The Commission staff assumes that new funds
relying on 17f–4 would choose to use a custodian
instead of directly dealing with a securities
depository because of the high costs associated with
maintaining an account with a securities
depository. Thus, new funds would not be subject
to this condition.
6 The estimated 49 custodians would handle
requests for reports from 3,917 fund clients
(approximately 80 fund clients per custodian) and
the depositories from the remaining 80 funds that
choose to deal directly with a depository. It is our
understanding based on staff conversations with
industry representatives that custodians and
depositories transmit these reports to clients in the
normal course of their activities as a good business
practice regardless of whether they are requested.
Therefore, for purposes of this PRA estimate, the
Commission staff assumes that custodians transmit
the reports to all fund clients.
7 (3,917 fund clients × 2 reports) = 7,834
transmissions. The staff estimates that each
transmission would take approximately 7 minutes
for a total of approximately 914 hours (7 minutes
× 7,834 transmissions).
VerDate Sep<11>2014
17:36 Dec 03, 2018
Jkt 247001
transmitting reports to the 80 funds.8
The total annual burden estimate for
compliance with rule 17f–4’s reporting
requirement is therefore 933 hours.9
If a fund deals directly with a
securities depository, rule 17f–4
requires that the fund implement
internal control systems reasonably
designed to prevent an unauthorized
officer’s instructions (by providing at
least for the form, content, and means of
giving, recording, and reviewing all
officers’ instructions). All funds that
seek to rely on rule 17f–4 should have
already implemented these internal
control systems when the rule was
amended. Therefore, there is no ongoing
burden associated with this collection of
information requirement.10
Based on the foregoing, the
Commission staff estimates that the total
annual hour burden of the rule’s
collection of information requirements
is 933 hours.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act. This estimate
is not derived from a comprehensive or
even representative survey or study of
the costs of Commission rules.
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 collection of information is
necessary for the proper performance of
the functions of the Commission,
including whether the information will
have practical utility; (b) the accuracy of
the Commission’s estimate of the
burden of the collections of information;
(c) ways to enhance the quality, utility,
and clarity of the information collected;
and (d) ways to minimize the burdens
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.
Please direct your written comments
to Charles Riddle, Acting Director/Chief
8 (80 fund clients who may deal directly with a
securities depository × 2 reports) = 160
transmissions. The staff estimates that each
transmission would take approximately 7 minutes
for a total of approximately 19 hours (7 minutes ×
160 transmissions).
9 914 hours for custodians and 19 hours for
securities depositories.
10 The Commission staff assumes that new funds
relying on 17f–4 would choose to use a custodian
instead of directly dealing with a securities
depository because of the high costs associated with
maintaining an account with a securities
depository. Thus new funds would not be subject
to this condition.
PO 00000
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62633
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: November 28, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–26327 Filed 12–3–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84671; File No. SR–
NASDAQ–2018–096]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend Rule
4756(c)(2)
November 28, 2018.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on November
16, 2018, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. 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 allow the
Exchange to aggregate Displayed odd-lot
Orders across price levels for
transmission to network processors as
the Exchange’s best priced Order under
Rule 4756(c)(2). While these
amendments are effective upon filing,
the Exchange has designated the
proposed amendments to be operative
in the first quarter of 2019, and will
announce the precise date by Equity
Trader Alert at least thirty days prior to
implementation.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaq.cchwallstreet.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
1 15
2 17
E:\FR\FM\04DEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
04DEN1
]]>Agencies
[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)]
[Notices]
[Pages 62632-62633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26327]
=======================================================================
-----------------------------------------------------------------------
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 17f-4, SEC File No. 270-232, OMB Control No. 3235-
0225.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501-3520) (the ``Paperwork Reduction Act''),
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.
Section 17(f) (15 U.S.C. 80a-17(f)) under the Investment Company
Act of 1940 (the ``Act'') \1\ permits registered management investment
companies and their custodians to deposit the securities they own in a
system for the central handling of securities (``securities
depositories''), subject to rules adopted by the Commission.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 80a.
---------------------------------------------------------------------------
Rule 17f-4 (17 CFR 270.17f-4) under the Act specifies the
conditions for the use of securities depositories by funds \2\ and
their custodians.
---------------------------------------------------------------------------
\2\ As amended in 2003, rule 17f-4 permits any registered
investment company, including a unit investment trust or a face-
amount certificate company, to use a security depository. See
Custody of Investment Company Assets With a Securities Depository,
Investment Company Act Release No. 25934 (Feb. 13, 2003) (68 FR 8438
(Feb. 20, 2003)). The term ``fund'' is used in this Notice to mean a
registered investment company.
---------------------------------------------------------------------------
The Commission staff estimates that 142 respondents (including an
estimated 80 active funds that may deal directly with a securities
depository, an estimated 49 custodians, and 13 possible securities
depositories) \3\ are subject to the requirements in rule 17f-4. The
rule is elective, but most, if not all, funds use depository custody
arrangements.\4\
---------------------------------------------------------------------------
\3\ The Commission staff estimates that, as permitted by the
rule, an estimated 2% of all active funds may deal directly with a
securities depository instead of using an intermediary. The number
of custodians is estimated based on information from Morningstar
Direct\SM\. The Commission staff estimates the number of possible
securities depositories by adding the 12 Federal Reserve Banks and
one active registered clearing agency. The Commission staff
recognizes that not all of these entities may currently be acting as
a securities depository for fund securities.
\4\ Based on responses to Item 18 of Form N-SAR (17 CFR
274.101), approximately 97 percent of funds' custodians maintain
some or all fund securities in a securities depository pursuant to
rule 17f-4.
---------------------------------------------------------------------------
[[Page 62633]]
Rule 17f-4 contains two general conditions. First, a fund's
custodian must be obligated, at a minimum, to exercise due care in
accordance with reasonable commercial standards in discharging its duty
as a securities intermediary to obtain and thereafter maintain
financial assets. If the fund deals directly with a depository, the
depository's contract or written rules for its participants must
provide that the depository will meet similar obligations. All funds
that deal directly with securities depositories in reliance on rule
17f-4 should have either modified their contracts with the relevant
securities depository, or negotiated a modification in the securities
depository's written rules when the rule was amended. Therefore, we
estimate there is no ongoing burden associated with this collection of
information.\5\
---------------------------------------------------------------------------
\5\ The Commission staff assumes that new funds relying on 17f-4
would choose to use a custodian instead of directly dealing with a
securities depository because of the high costs associated with
maintaining an account with a securities depository. Thus, new funds
would not be subject to this condition.
---------------------------------------------------------------------------
Second, the custodian must provide, promptly upon request by the
fund, such reports as are available about the internal accounting
controls and financial strength of the custodian. If a fund deals
directly with a depository, the depository's contract with or written
rules for its participants must provide that the depository will
provide similar financial reports. Custodians and depositories usually
transmit financial reports to funds twice each year.\6\ The Commission
staff estimates that 49 custodians spend approximately 914 hours (by
support staff) annually in transmitting such reports to funds.\7\ In
addition, approximately 80 funds (i.e., two percent of all funds) deal
directly with a securities depository and may request periodic reports
from their depository. Commission staff estimates that depositories
spend approximately 19 hours (by support staff) annually transmitting
reports to the 80 funds.\8\ The total annual burden estimate for
compliance with rule 17f-4's reporting requirement is therefore 933
hours.\9\
---------------------------------------------------------------------------
\6\ The estimated 49 custodians would handle requests for
reports from 3,917 fund clients (approximately 80 fund clients per
custodian) and the depositories from the remaining 80 funds that
choose to deal directly with a depository. It is our understanding
based on staff conversations with industry representatives that
custodians and depositories transmit these reports to clients in the
normal course of their activities as a good business practice
regardless of whether they are requested. Therefore, for purposes of
this PRA estimate, the Commission staff assumes that custodians
transmit the reports to all fund clients.
\7\ (3,917 fund clients x 2 reports) = 7,834 transmissions. The
staff estimates that each transmission would take approximately 7
minutes for a total of approximately 914 hours (7 minutes x 7,834
transmissions).
\8\ (80 fund clients who may deal directly with a securities
depository x 2 reports) = 160 transmissions. The staff estimates
that each transmission would take approximately 7 minutes for a
total of approximately 19 hours (7 minutes x 160 transmissions).
\9\ 914 hours for custodians and 19 hours for securities
depositories.
---------------------------------------------------------------------------
If a fund deals directly with a securities depository, rule 17f-4
requires that the fund implement internal control systems reasonably
designed to prevent an unauthorized officer's instructions (by
providing at least for the form, content, and means of giving,
recording, and reviewing all officers' instructions). All funds that
seek to rely on rule 17f-4 should have already implemented these
internal control systems when the rule was amended. Therefore, there is
no ongoing burden associated with this collection of information
requirement.\10\
---------------------------------------------------------------------------
\10\ The Commission staff assumes that new funds relying on 17f-
4 would choose to use a custodian instead of directly dealing with a
securities depository because of the high costs associated with
maintaining an account with a securities depository. Thus new funds
would not be subject to this condition.
---------------------------------------------------------------------------
Based on the foregoing, the Commission staff estimates that the
total annual hour burden of the rule's collection of information
requirements is 933 hours.
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act. This estimate is not derived
from a comprehensive or even representative survey or study of the
costs of Commission rules.
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 collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (b) the accuracy of the Commission's estimate of the burden of
the collections of information; (c) ways to enhance the quality,
utility, and clarity of the information collected; and (d) ways to
minimize the burdens 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.
Please direct your written comments to Charles Riddle, Acting
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: November 28, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26327 Filed 12-3-18; 8:45 am]
BILLING CODE 8011-01-P
