Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend NYSE Arca Rule 5.2-E(j)(6) Relating to Equity Index-Linked Securities Listing Standards Set Forth in NYSE Arca Rule 5.2-E(j)(6)(B)(I), 4890 [2019-02607]
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Federal Register / Vol. 84, No. 33 / Tuesday, February 19, 2019 / Notices
tkelley on DSKBCP9HB2PROD with NOTICES
financial situation, investment
objectives, or restrictions on the
account’s management.
Additionally, the sponsor (or its
designee) must provide each client with
a quarterly statement describing all
activity in the client’s account during
the previous quarter. The sponsor and
personnel of the client’s account
manager who know about the client’s
account and its management must be
reasonably available to consult with the
client. Each client also must retain
certain indicia of ownership of all
securities and funds in the account.
The Commission staff estimates that
19,618,731 clients participate each year
in investment advisory programs relying
on rule 3a–4.4 Of that number, the staff
estimates that 3,531,372 are new clients
and 16,087,359 are continuing clients.5
The staff estimates that each year the
investment advisory program sponsors’
staff engage in 1.5 hours per new client
and 1 hour per continuing client to
prepare, conduct and/or review
interviews regarding the client’s
financial situation and investment
objectives as required by the rule.6
Furthermore, the staff estimates that
each year the investment advisory
program sponsors’ staff spends 1 hour
per client to prepare and mail quarterly
client account statements, including
notices to update information.7 Based
on the estimates above, the Commission
estimates that the total annual burden of
the rule’s paperwork requirements is
41,003,148 hours.8
4 These estimates are based on an analysis of the
number of individual clients from Form ADV Item
5D(a)(1) and (b)(1) of advisers that report they
provide portfolio management to wrap programs as
indicated in Form ADV Item 5I(2)(b) and (c), and
the number of individual clients of advisers that
identify as internet advisers in Form ADV Item
2A(11). From analysis comparing reported
individual client assets in Form ADV Item 5D(a)(3)
and 5D(b)(3) to reported wrap portfolio manager
assets in Form ADV Item 5I(2)(b) and (c), we
discount the estimated number of individual clients
of non-internet advisers providing portfolio
management to wrap programs by 10%.
5 These estimates are based on the number of new
clients expected due to average year-over-year
growth in individual clients from Form ADV Item
5D(a)(1) and (b)(1) (about 8%) and an assumed rate
of yearly client turnover of 10%.
6 These estimates are based upon consultation
with investment advisers that operate investment
advisory programs that rely on rule 3a–4.
7 The staff bases this estimate in part on the fact
that, by business necessity, computer records
already will be available that contain the
information in the quarterly reports.
8 This estimate is based on the following
calculation: (16,087,359 continuing clients × 1
hour) + (3,531,372 new clients × 1.5 hours) +
(19,618,731 total clients × (0.25 hours × 4
statements)) = 41,003,148 hours. We note that the
breakdown of burden hours between professional
and staff time discussed below may not equal the
estimate of total burden hours due to rounding.
VerDate Sep<11>2014
17:46 Feb 15, 2019
Jkt 247001
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act. The estimate
is not derived from a comprehensive or
even a representative survey or study of
the costs of Commission rules and
forms. 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 OMB
control number.
The public may view the 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 send an email to: PRA_
Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of
this notice.
in the Federal Register on October 1,
2018.3
On November 13, 2018, pursuant to
Section 19(b)(2) of the Act,4 the
Commission designated a longer period
within which to approve the proposed
rule change, disapprove the proposed
rule change, or institute proceedings to
determine whether to disapprove the
proposed rule change.5 On December
19, 2018, the Commission instituted
proceedings to determine whether to
approve or disapprove the proposed
rule change.6
On February 8, 2019, NYSE Arca
withdrew the proposed rule change
(SR–NYSEArca–2018–67).
Dated: February 12, 2019.
Eduardo A. Aleman,
Deputy Secretary.
As required by the Federal Advisory
Committee Act, Public Law 92–463, the
Department of State gives notice of a
meeting of the Advisory Committee on
International Postal and Delivery
Services. This Committee will meet on
Thursday, March 14, 2019, from 1:00
p.m. to 5:00 p.m. Eastern Time in the
American Institute of Architects Board
Room at 1735 New York Avenue NW,
Washington, DC 20006.
Any member of the public interested
in providing input to the meeting
should contact Ms. Shereece Robinson,
whose contact information is listed
below (see the ‘‘for further information’’
section of this notice). Each individual
providing oral input is requested to
limit his or her comments to five
minutes. Requests to be added to the
speakers list must be received in writing
(letter or email) prior to the close of
business on Thursday, March 7, 2019;
written comments from members of the
public for distribution at this meeting
must reach Ms. Robinson by letter or
email on this same date. A member of
the public requesting reasonable
accommodation should also make his/
[FR Doc. 2019–02646 Filed 2–15–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85110; File No. SR–
NYSEArca–2018–67]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Withdrawal of a
Proposed Rule Change To Amend
NYSE Arca Rule 5.2–E(j)(6) Relating to
Equity Index-Linked Securities Listing
Standards Set Forth in NYSE Arca Rule
5.2–E(j)(6)(B)(I)
February 12, 2019.
On September 10, 2018, NYSE Arca,
Inc. (‘‘NYSE Arca’’) 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 listing standards set forth in
NYSE Arca Rule 5.2–E(j)(6)(B)(I) relating
to criteria applicable to components of
an index underlying an issue of Equity
Index-Linked Securities. The proposed
rule change was published for comment
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00128
Fmt 4703
Sfmt 4703
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–02607 Filed 2–15–19; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Public Notice: 10677]
Notice of Public Meeting
3 See Securities Exchange Act Release No. 84279
(Sept. 25, 2018), 83 FR 49437.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 84576,
83 FR 58315 (Nov. 19, 2018).
6 See Securities Exchange Act Release No. 84863,
83 FR 66787 (Dec. 27, 2018).
7 17 CFR 200.30–3(a)(12).
E:\FR\FM\19FEN1.SGM
19FEN1
]]>Agencies
[Federal Register Volume 84, Number 33 (Tuesday, February 19, 2019)]
[Notices]
[Page 4890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02607]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85110; File No. SR-NYSEArca-2018-67]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Withdrawal of a Proposed Rule Change To Amend NYSE Arca Rule 5.2-
E(j)(6) Relating to Equity Index-Linked Securities Listing Standards
Set Forth in NYSE Arca Rule 5.2-E(j)(6)(B)(I)
February 12, 2019.
On September 10, 2018, NYSE Arca, Inc. (``NYSE Arca'') 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 listing
standards set forth in NYSE Arca Rule 5.2-E(j)(6)(B)(I) relating to
criteria applicable to components of an index underlying an issue of
Equity Index-Linked Securities. The proposed rule change was published
for comment in the Federal Register on October 1, 2018.\3\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 84279 (Sept. 25,
2018), 83 FR 49437.
---------------------------------------------------------------------------
On November 13, 2018, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to disapprove the proposed rule
change.\5\ On December 19, 2018, the Commission instituted proceedings
to determine whether to approve or disapprove the proposed rule
change.\6\
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 84576, 83 FR 58315
(Nov. 19, 2018).
\6\ See Securities Exchange Act Release No. 84863, 83 FR 66787
(Dec. 27, 2018).
---------------------------------------------------------------------------
On February 8, 2019, NYSE Arca withdrew the proposed rule change
(SR-NYSEArca-2018-67).
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-02607 Filed 2-15-19; 8:45 am]
BILLING CODE 8011-01-P
