Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend Rule 7.44-E, the Exchange's Retail Liquidity Program, 64381 [2018-27082]
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Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices
recordkeeping provisions of the
Commission’s transfer agent rules.
Pursuant to Rule 17Ad–4(b), if the
Commission or the Office of the
Comptroller of the Currency (‘‘OCC’’) is
the appropriate regulatory agency
(‘‘ARA’’) for an exempt transfer agent,
that transfer agent is required to prepare
and maintain in its possession a notice
certifying that it is exempt from certain
performance standards and
recordkeeping and record retention
provisions of the Commission’s transfer
agent rules. This notice need not be
filed with the Commission or OCC. If
the Board of Governors of the Federal
Reserve System (‘‘Fed’’) or the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
is the transfer agent’s ARA, that transfer
agent must prepare a notice and file it
with the Fed or FDIC.
Rule 17Ad–4(c) sets forth the
conditions under which a registered
transfer agent loses its exempt status.
Once the conditions for exemption no
longer exist, the transfer agent, to keep
the ARA apprised of its current status,
must prepare, and file if the ARA for the
transfer agent is the Fed or the FDIC, a
notice of loss of exempt status under
paragraph (c). The transfer agent then
cannot claim exempt status under Rule
17Ad–4(b) again until it remains subject
to the minimum performance standards
for non-exempt transfer agents for six
consecutive months.
ARAs use the information contained
in the notices required by Rules 17Ad–
4(b) and 17Ad–4(c) to determine
whether a registered transfer agent
qualifies for the exemption, to
determine when a registered transfer
agent no longer qualifies for the
exemption, and to determine the extent
to which that transfer agent is subject to
regulation.
The Commission estimates that
approximately 10 registered transfer
agents each year prepare or file notices
in compliance with Rules 17Ad–4(b)
and 17Ad–4(c). The Commission
estimates that each such registered
transfer agent spends approximately 1.5
hours to prepare or file such notices for
an aggregate total annual burden of 15
hours (1.5 hours times 10 transfer
agents). The Commission staff estimates
that compliance staff work at registered
transfer agents results in an internal cost
of compliance, at an estimated hourly
wage of $283, of $424.5 per year per
transfer agent (1.5 hours × $283 per hour
= $424.5 per year). Therefore, the
aggregate annual internal cost of
compliance for the approximate 10
transfer agents annually preparing or
filing notices pursuant to Rules 17Ad–
4(b) and 17Ad–4(c) is approximately
$4,245 ($424.5 × 10 = $4,245).
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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.M.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: December 10, 2018.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018–27090 Filed 12–13–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84772; File No. SR–
NYSEArca–2018–77]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of a
Longer Period for Commission Action
on Proposed Rule Change To Amend
Rule 7.44–E, the Exchange’s Retail
Liquidity Program
December 10, 2018.
On October 26, 2018, NYSE Arca, Inc.
(‘‘NYSE Arca’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to amend Exchange Rule 7.44–
E, which sets forth the Exchange’s Retail
Liquidity Program. The proposed rule
change was published for comment in
the Federal Register on November 14,
2018.3 The Commission has received no
comment letters on the proposed rule
change.
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 84547
(Nov. 7, 2018), 83 FR 56890.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is December 29,
2018. The Commission is extending this
45-day time period.
The Commission finds it appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider this proposed rule change.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates February 12, 2019, as the
date by which the Commission shall
either approve or disapprove, or
institute proceedings to determine
whether to disapprove, the proposed
rule change (File No. SR–NYSEArca–
2018–77).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018–27082 Filed 12–13–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–641, OMB Control No.
3235–0685]
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Extension:
Rules 3a68–2 and 3a68–4(c)
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 (‘‘SEC’’) has
submitted to the Office of Management
and Budget (‘‘OMB’’) a request for
approval of extension of the previously
1 15
2 17
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64381
4 15
U.S.C. 78s(b)(2).
5 Id.
6 17
E:\FR\FM\14DEN1.SGM
CFR 200.30–3(a)(31).
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]]>Agencies
[Federal Register Volume 83, Number 240 (Friday, December 14, 2018)]
[Notices]
[Page 64381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27082]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84772; File No. SR-NYSEArca-2018-77]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proposed Rule
Change To Amend Rule 7.44-E, the Exchange's Retail Liquidity Program
December 10, 2018.
On October 26, 2018, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend Exchange Rule 7.44-E, which sets forth
the Exchange's Retail Liquidity Program. The proposed rule change was
published for comment in the Federal Register on November 14, 2018.\3\
The Commission has received no comment letters on the proposed rule
change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 84547 (Nov. 7,
2018), 83 FR 56890.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is December 29, 2018. The Commission is extending this 45-day time
period.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider this proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates
February 12, 2019, as the date by which the Commission shall either
approve or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-NYSEArca-2018-77).
---------------------------------------------------------------------------
\5\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018-27082 Filed 12-13-18; 8:45 am]
BILLING CODE 8011-01-P
