Submission for OMB Review; Comment Request, 64388-64389 [2018-27091]

Download as PDF 64388 Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Rather, the Exchange believes that the proposed changes with respect to its Risk Monitor Mechanism help promote fair and orderly markets and provide clarity and transparency the Rule. For example, the proposed rule change adds an additional risk control parameter and flexibility to help further prevent potentially erroneous executions, which benefits all market participants. The proposed changes apply uniformly to all Members and the Exchange notes that the proposed changes apply to all quotes and orders in the same manner. Additionally, the Exchange does not believe that the proposed rule change will impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act because the proposed enhancements apply only to trading on the Exchange. Additionally, the Exchange notes that it is voluntary for the Members to determine whether to make use of the new enhancements of the Risk Monitor Mechanism. To the extent that the proposed changes may make the Exchange a more attractive trading venue for market participants on other exchanges, such market participants may elect to become Exchange market participants. amozie on DSK3GDR082PROD with NOTICES1 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: A. significantly affect the protection of investors or the public interest; B. impose any significant burden on competition; and C. 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) of the Act 24 and Rule 19b–4(f)(6) 25 thereunder.26 24 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 26 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization to 25 17 VerDate Sep<11>2014 16:57 Dec 13, 2018 Jkt 247001 A proposed rule change filed pursuant to Rule 19b–4(f)(6) under the Act 27 normally does not become operative for 30 days after the date of its filing. However, Rule 19b–4(f)(6)(iii) 28 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 asked the Commission to waive the 30-day operative delay to provide Members with additional tools and greater flexibility for managing their potential risk as soon as possible. Accordingly, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal as operative upon filing.29 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 necessary or appropriate in the public interest, for the protection of investors, or 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 change 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. Comments may be submitted by any of the following methods: Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–CboeEDGX–2018–058. 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–CboeEDGX–2018–058 and should be submitted on or before January 4, 2019. Electronic Comments • 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– CboeEDGX–2018–058 on the subject line. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.30 Eduardo A. Aleman, Deputy Secretary. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange SECURITIES AND EXCHANGE COMMISSION give the Commission written notice of its 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. 27 17 CFR 240.19b–4(f)(6). 28 17 CFR 240.19b–4(f)(6)(iii). 29 For purposes only of waiving the 30-day operative delay, the Commission also has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 [FR Doc. 2018–27086 Filed 12–13–18; 8:45 am] BILLING CODE 8011–01–P [SEC File No. 270–359, OMB Control No. 3235–0410] 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: 30 17 E:\FR\FM\14DEN1.SGM CFR 200.30–3(a)(12). 14DEN1 Federal Register / Vol. 83, No. 240 / Friday, December 14, 2018 / Notices amozie on DSK3GDR082PROD with NOTICES1 Rules 17h–1T and 17h–2T 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 Rules 17h–1T and 17h–2T (17 CFR 240.17h–1T and 17 CFR 240.17h–2T), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17h–1T requires a covered broker-dealer to maintain and preserve records and other information concerning certain entities that are associated with the broker-dealer. This requirement extends to the financial and securities activities of the holding company, affiliates and subsidiaries of the broker-dealer that are reasonably likely to have a material impact on the financial or operational condition of the broker-dealer. Rule 17h–2T requires a covered broker-dealer to file with the Commission quarterly reports and a cumulative year-end report concerning the information required to be maintained and preserved under Rule 17h–1T. The collection of information required by Rules 17h–1T and 17h–2T, collectively referred to as the ‘‘risk assessment rules,’’ is necessary to enable the Commission to monitor the activities of a broker-dealer affiliate whose business activities are reasonably likely to have a material impact on the financial or operational condition of the broker-dealer. Without this information, the Commission would be unable to assess the potentially damaging impact of the affiliate’s activities on the brokerdealer. There are currently 285 respondents that must comply with Rules 17h–1T and 17h–2T. Each of these 285 respondents are estimated to require 10 hours per year to maintain the records required under Rule 17h–1T, for an aggregate estimated annual burden of 2,850 hours (285 respondents × 10 hours). In addition, each of these 285 respondents must make five annual responses under Rule 17h–2T. These five responses are estimated to require 14 hours per respondent per year for an aggregate estimated annual burden of 3,990 hours (285 respondents × 14 hours). In addition, new respondents must draft an organizational chart required under Rule 17h–1T and establish a system for complying with the risk assessment rules. The staff estimates that drafting the required organizational VerDate Sep<11>2014 16:57 Dec 13, 2018 Jkt 247001 chart requires one hour and establishing a system for complying with the risk assessment rules requires three hours. Based on the reduction in the number of filers in recent years, the staff estimates there will be zero new respondents, and thus, a corresponding estimated burden of zero hours for new respondents. Thus, the total compliance burden per year is approximately 6,840 burden hours (2,850 hours + 3,990 hours). The retention period for the recordkeeping requirement for the information, reports and records required under Rule 17h–1T is not less than three years. There is no specific retention period or recordkeeping requirement for Rule 17h–2T. The collection of information is mandatory. All information obtained by the Commission pursuant to the provisions of Rules 17h–1T and 17h–2T from a broker or dealer concerning a material associated person is deemed confidential information for the purposes of section 24(b) of the Exchange Act. 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. 2018–27091 Filed 12–13–18; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 64389 SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 33320; 812–14933] Pacific Global ETF Trust and Cadence Capital Management LLC December 11, 2018. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice. AGENCY: Notice of an application for an order under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), and 22(e) of the Act and rule 22c–1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and 17(a)(2) of the Act, and under section 12(d)(1)(J) for an exemption from sections 12(d)(1)(A) and 12(d)(1)(B) of the Act. The requested order would permit (a) actively-managed series of certain open-end management investment companies (‘‘Funds’’) to issue shares redeemable in large aggregations only (‘‘Creation Units’’); (b) secondary market transactions in Fund shares to occur at negotiated market prices rather than at net asset value (‘‘NAV’’); (c) certain Funds to pay redemption proceeds, under certain circumstances, more than seven days after the tender of shares for redemption; (d) certain affiliated persons of a Fund to deposit securities into, and receive securities from, the Fund in connection with the purchase and redemption of Creation Units; (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the Funds (‘‘Funds of Funds’’) to acquire shares of the Funds; and (f) certain Funds (‘‘Feeder Funds’’) to create and redeem Creation Units in-kind in a master-feeder structure. APPLICANTS: Pacific Global ETF Trust (‘‘Trust’’), a Delaware statutory trust that will be registered under the Act as an open-end management investment company with multiple series, and Cadence Capital Management LLC (‘‘Initial Adviser’’), a Delaware limited liability company registered as an investment adviser under the Investment Advisers Act of 1940. FILING DATES: The application was filed on July 24, 2018 and amended on November 21, 2018. HEARING OR NOTIFICATION OF HEARING: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may E:\FR\FM\14DEN1.SGM 14DEN1

Agencies

[Federal Register Volume 83, Number 240 (Friday, December 14, 2018)]
[Notices]
[Pages 64388-64389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27091]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-359, OMB Control No. 3235-0410]


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:

[[Page 64389]]

    Rules 17h-1T and 17h-2T

    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 Rules 
17h-1T and 17h-2T (17 CFR 240.17h-1T and 17 CFR 240.17h-2T), under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17h-1T requires a covered broker-dealer to maintain and 
preserve records and other information concerning certain entities that 
are associated with the broker-dealer. This requirement extends to the 
financial and securities activities of the holding company, affiliates 
and subsidiaries of the broker-dealer that are reasonably likely to 
have a material impact on the financial or operational condition of the 
broker-dealer. Rule 17h-2T requires a covered broker-dealer to file 
with the Commission quarterly reports and a cumulative year-end report 
concerning the information required to be maintained and preserved 
under Rule 17h-1T.
    The collection of information required by Rules 17h-1T and 17h-2T, 
collectively referred to as the ``risk assessment rules,'' is necessary 
to enable the Commission to monitor the activities of a broker-dealer 
affiliate whose business activities are reasonably likely to have a 
material impact on the financial or operational condition of the 
broker-dealer. Without this information, the Commission would be unable 
to assess the potentially damaging impact of the affiliate's activities 
on the broker-dealer.
    There are currently 285 respondents that must comply with Rules 
17h-1T and 17h-2T. Each of these 285 respondents are estimated to 
require 10 hours per year to maintain the records required under Rule 
17h-1T, for an aggregate estimated annual burden of 2,850 hours (285 
respondents x 10 hours). In addition, each of these 285 respondents 
must make five annual responses under Rule 17h-2T. These five responses 
are estimated to require 14 hours per respondent per year for an 
aggregate estimated annual burden of 3,990 hours (285 respondents x 14 
hours).
    In addition, new respondents must draft an organizational chart 
required under Rule 17h-1T and establish a system for complying with 
the risk assessment rules. The staff estimates that drafting the 
required organizational chart requires one hour and establishing a 
system for complying with the risk assessment rules requires three 
hours. Based on the reduction in the number of filers in recent years, 
the staff estimates there will be zero new respondents, and thus, a 
corresponding estimated burden of zero hours for new respondents. Thus, 
the total compliance burden per year is approximately 6,840 burden 
hours (2,850 hours + 3,990 hours).
    The retention period for the recordkeeping requirement for the 
information, reports and records required under Rule 17h-1T is not less 
than three years. There is no specific retention period or 
recordkeeping requirement for Rule 17h-2T. The collection of 
information is mandatory. All information obtained by the Commission 
pursuant to the provisions of Rules 17h-1T and 17h-2T from a broker or 
dealer concerning a material associated person is deemed confidential 
information for the purposes of section 24(b) of the Exchange Act.
    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: December 10, 2018.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018-27091 Filed 12-13-18; 8:45 am]
 BILLING CODE 8011-01-P
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