Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Withdrawal of Proposed Rule Change To Amend Rule 7.44-E To Expand and Modify the Exchange's Retail Liquidity Program, 16299 [2019-07823]
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Federal Register / Vol. 84, No. 75 / Thursday, April 18, 2019 / Notices
by inside counsel at an hourly rate of
$401, and half would be by a
compliance officer at an hourly rate of
$352, for a total cost of $4,196,093.
Finally, we expect that the 607 newly
registered entities that are not affiliated
with an existing institution will incur a
significantly higher hourly burden in
reviewing and documenting their
safeguard policies and procedures. We
expect that virtually all of the newly
registered covered entities that do not
have an affiliate are likely to be small
entities and are likely to have smaller
and less complex operations, with a
correspondingly smaller set of safeguard
policies and procedures to document,
compared to other larger existing
institutions with multiple affiliates. We
estimate that it will take a typical newly
registered unaffiliated institution
approximately 60 hours to review,
identify, and document their safeguard
policies and procedures, for a total of
36,420 hours for all newly registered
unaffiliated entities. We expect that half
of this time would be incurred by inside
counsel at an hourly rate of $401, and
half would be by a compliance officer at
an hourly rate of $352, for a total cost
of $13,712,130.
Therefore, we estimate that the total
annual hourly burden associated with
the safeguards rule is 47,565 hours at a
total hourly cost of $17,908,223. We also
estimate that all covered institutions
will be respondents each year, for a total
of 21,251 respondents.
These estimates of average burden
hours are made solely for the purposes
of the Paperwork Reduction Act. 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. The safeguard rule does not
require the reporting of any information
or the filing of any documents with the
Commission. The collection of
information required by the safeguard
rule is mandatory.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden 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
VerDate Sep<11>2014
17:37 Apr 17, 2019
Jkt 247001
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 PRA_
Mailbox@sec.gov.
Dated: April 15, 2019.
Eduardo A. Aleman,
Deputy Secretary.
16299
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–07823 Filed 4–17–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85644; File No. SR–NYSE–
2018–46]
[FR Doc. 2019–07761 Filed 4–17–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85646; File No. SR–
NYSEArca–2018–77]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Withdrawal of
Proposed Rule Change To Amend Rule
7.44–E To Expand and Modify the
Exchange’s Retail Liquidity Program
April 15, 2019.
On October 26, 2018, NYSE Arca, Inc.
(the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(the ‘‘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 Rule 7.44–E to expand
the Exchange’s Retail Liquidity Program
to all securities traded on the Exchange
and make certain other modifications.
The proposed rule change was
published for comment in the Federal
Register on November 14, 2018.3 On
December 10, 2018, the Commission
extended the time period in which to
approve, disapprove, or institute
proceedings to determine whether to
approve or disapprove, the proposed
rule change.4 On December 26, 2018,
the Commission instituted proceedings
under Section 19(b)(2)(B) of the Act 5 to
determine whether to approve or
disapprove the proposed rule change.6
The Commission received no comments
on the proposed rule change. On April
5, 2019, the Exchange withdrew the
proposed rule change (SR–NYSEArca–
2018–77).
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Amend the Listed Company Manual
for Special Purpose Acquisition
Companies To Reduce the Continued
Listing Standards for Public Holders
From 300 to 100 and To Enable the
Exchange To Exercise Discretion To
Allow Special Purpose Acquisition
Companies a Reasonable Time Period
Following a Business Combination To
Demonstrate Compliance With the
Applicable Quantitative Listing
Standards
April 15, 2019.
On October 1, 2018, New York Stock
Exchange LLC (‘‘NYSE’’ 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 the Listed Company
Manual for Acquisition Companies
(‘‘ACs’’) to reduce the continued listing
standards for public holders from 300 to
100 and to enable the Exchange to
exercise discretion to allow ACs a
reasonable time period following a
business combination to demonstration
compliance with the applicable
quantitative listing standards.
The proposed rule change was
published for comment in the Federal
Register on October 18, 2018.3 In
response, the Commission received one
comment on the proposed rule change.4
On November 29, 2018, pursuant to
Section 19(b)(2) of the Act,5 the
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 84420
(October 12, 2018), 83 FR 52854 (October 18, 2018)
(‘‘Notice’’).
4 See Letter to Secretary, Commission, from
Jeffrey P. Mahoney, General Counsel, Council of
Institutional Investors, dated November 8, 2018
(‘‘CII Letter’’).
5 15 U.S.C. 78s(b)(2).
1 15
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 84547
(November 7, 2018), 83 FR 56890 (‘‘Notice’’).
4 See Securities Exchange Act Release No. 84772,
83 FR 64381 (December 14, 2018).
5 15 U.S.C. 78s(b)(2)(B).
6 See Securities Exchange Act Release No. 84976,
84 FR 833 (January 31, 2019).
2 17
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[Federal Register Volume 84, Number 75 (Thursday, April 18, 2019)]
[Notices]
[Page 16299]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-07823]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85646; File No. SR-NYSEArca-2018-77]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Withdrawal of Proposed Rule Change To Amend Rule 7.44-E To Expand and
Modify the Exchange's Retail Liquidity Program
April 15, 2019.
On October 26, 2018, NYSE Arca, Inc. (the ``Exchange'') filed with
the Securities and Exchange Commission (the ``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 Rule
7.44-E to expand the Exchange's Retail Liquidity Program to all
securities traded on the Exchange and make certain other modifications.
The proposed rule change was published for comment in the Federal
Register on November 14, 2018.\3\ On December 10, 2018, the Commission
extended the time period in which to approve, disapprove, or institute
proceedings to determine whether to approve or disapprove, the proposed
rule change.\4\ On December 26, 2018, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Act \5\ to determine
whether to approve or disapprove the proposed rule change.\6\ The
Commission received no comments on the proposed rule change. On April
5, 2019, the Exchange withdrew the proposed rule change (SR-NYSEArca-
2018-77).
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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 (November 7,
2018), 83 FR 56890 (``Notice'').
\4\ See Securities Exchange Act Release No. 84772, 83 FR 64381
(December 14, 2018).
\5\ 15 U.S.C. 78s(b)(2)(B).
\6\ See Securities Exchange Act Release No. 84976, 84 FR 833
(January 31, 2019).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-07823 Filed 4-17-19; 8:45 am]
BILLING CODE 8011-01-P
