Submission for OMB Review; Comment Request, 26710-26711 [2019-12038]

Download as PDF 26710 Federal Register / Vol. 84, No. 110 / Friday, June 7, 2019 / Notices 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: June 4, 2019. Eduardo A Aleman, Deputy Secretary. [FR Doc. 2019–12039 Filed 6–6–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 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 jbell on DSK3GLQ082PROD with NOTICES Extension: Rule 6h–1; SEC File No. 270–497; OMB Control No. 3235–0555 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 Rule 6h–1 (17 CFR 240.6h–1) under the Securities Exchange Act of 1934, as amended (‘‘Act’’) (15 U.S.C. 78a et seq.). Section 6(h) of the Act (15 U.S.C. 78f(h)) requires national securities exchanges and national securities associations that trade security futures products to establish listing standards that, among other things, require that: (i) Trading in such products not be readily susceptible to price manipulation; and (ii) the market on which the security futures product trades has in place procedures to coordinate trading halts with the listing market for the security or securities underlying the security futures product. Rule 6h–1 implements these statutory requirements and requires that (1) the final settlement price for each cash-settled security futures product fairly reflect the opening price of the underlying security or securities, and (2) the exchanges and associations trading security futures VerDate Sep<11>2014 18:13 Jun 06, 2019 Jkt 247001 products halt trading in any security futures product for as long as trading in the underlying security, or trading in 50% or more of the underlying securities, is halted on the listing market. It is estimated that approximately 1 respondent, consisting of a designated contract market not already registered as a national securities exchange under Section 6(g) of the Exchange Act that seeks to list or trade security futures products, will incur an average burden of 10 hours per year to comply with this rule, for a total burden of 10 hours. At an average internal cost per hour of approximately $401, the resultant total internal cost of compliance for the respondents is $4,010 per year (1 respondent × 10 hours/respondent × $401/hour). Compliance with Rule 6h–1 is mandatory. Any listing standards established pursuant to Rule 6h–1 would be filed with the Commission as proposed rule changes pursuant to Section 19(b) of the Act and would be published in the Federal Register. 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: June 4, 2019. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–12041 Filed 6–6–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 100 F Street NE, Washington, DC 20549–2736. Extension: Rule 19d–1; SEC File No. 270–242, OMB Control No. 3235–0206 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), 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 Rule 19d–1 (17 CFR 240.19d–1) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule 19d–1 prescribes the form and content of notices to be filed with the Commission by self-regulatory organizations (‘‘SROs’’) for which the Commission is the appropriate regulatory agency concerning the following final SRO actions: (1) Disciplinary actions with respect to any person; (2) denial, bar, prohibition, or limitation of membership, participation or association with a member or of access to services offered by an SRO or member thereof; (3) summarily suspending a member, participant, or person associated with a member, or summarily limiting or prohibiting any persons with respect to access to or services offered by the SRO or a member thereof; and (4) delisting a security. The Rule enables the Commission to obtain reports from the SROs containing information regarding SRO determinations to delist a security, discipline members or associated persons of members, deny membership or participation or association with a member, and similar adjudicated findings. The Rule requires that such actions be promptly reported to the Commission. The Rule also requires that the reports and notices supply sufficient information regarding the background, factual basis and issues involved in the proceeding to enable the Commission: (1) To determine whether the matter should be called up for review on the Commission’s own motion; and (2) to ascertain generally whether the SRO has adequately carried out its responsibilities under the Exchange Act. It is estimated that approximately eighteen respondents will utilize this application procedure annually, and will file approximately 1,350 submissions, based upon recent data. The Commission estimates that the average number of hours necessary to comply with the requirements of Rule 19d–1 for each submission is 1 hour. The total annual burden for all respondents is thus 1,350 hours. The E:\FR\FM\07JNN1.SGM 07JNN1 Federal Register / Vol. 84, No. 110 / Friday, June 7, 2019 / Notices Commission estimates that the internal compliance cost per respondent is approximately $298 per response. The annual internal cost of compliance for all respondents is thus approximately $402,300 (18 respondents × 75 responses × $298 per response). The filing of notices pursuant to Rule 19d–1 is mandatory for the SROs, but does not require 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: June 4, 2019. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–12038 Filed 6–6–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–86017; File No. SR– NYSEArca–2019–06] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Certain Generic Listing Standards for Managed Fund Shares Applicable to Holdings of Fixed Income Securities jbell on DSK3GLQ082PROD with NOTICES June 3, 2019. I. Introduction On February 14, 2019, 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 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 18:13 Jun 06, 2019 Jkt 247001 change to amend certain generic listing standards for Managed Fund Shares applicable to holdings of fixed income securities. The proposed rule change was published for comment in the Federal Register on March 6, 2019.3 On April 18, 2019, 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 May 15, 2019, the Exchange filed Amendment No. 1 to the proposed rule change, which amended and superseded the original filing in its entirety.6 The Commission has received no comments on the proposed rule change. This order approves the proposed rule change, as modified by Amendment No. 1. II. Description of the Proposed Rule Change, as Modified by Amendment No. 1 7 Commentary .01 to NYSE Arca Rule 8.600–E sets forth the generic listing standards for Managed Fund Shares.8 Commentary .01(b) to NYSE Arca Rule 3 See Securities Exchange Act Release No. 85220 (February 28, 2019), 84 FR 8138. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 85690, 84 FR 17204 (April 24, 2019). The Commission designated June 4, 2019 as the date by which the Commission shall approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change. 6 In Amendment No. 1, the Exchange: (1) Clarified that non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities in the portfolio of a series of generically-listed Managed Fund Shares would satisfy all of the generic listing standards of Commentary .01(b) to NYSE Arca Rule 8.600–E, as amended; (2) modified its argument supporting its proposed change; and (3) made other technical changes. Because Amendment No. 1 does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, Amendment No. 1 is not subject to notice and comment. Amendment No. 1 is available at https://www.sec.gov/comments/ sr-nysearca-2019-06/srnysearca201906-5524002185227.pdf. 7 For a more detailed description of the proposal, see Amendment No. 1, supra note 6. 8 The term ‘‘Managed Fund Share’’ means a security that (a) represents an interest in a registered investment company (‘‘Investment Company’’) organized as an open-end management investment company or similar entity, that invests in a portfolio of securities selected by the Investment Company’s investment adviser consistent with the Investment Company’s investment objectives and policies; (b) is issued in a specified aggregate minimum number in return for a deposit of a specified portfolio of securities and/ or a cash amount with a value equal to the next determined net asset value; and (c) when aggregated in the same specified minimum number, may be redeemed at a holder’s request, which holder will be paid a specified portfolio of securities and/or cash with a value equal to the next determined net asset value. See NYSE Arca Rule 8.600–E(c)(1). PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 26711 8.600–E sets forth the generic listing standards applicable to fixed income securities 9 in the portfolio of a series of Managed Fund Shares. Commentary .01(b)(5) currently provides that nonagency, non-GSE, and privately-issued mortgage-related and other asset-backed securities components of a portfolio shall not account, in the aggregate, for more than 20% of the weight of the fixed income portion of the portfolio. The Exchange proposes to amend Commentary .01(b)(5) by deleting the reference to the ‘‘fixed income portion of the’’ portfolio, such that non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed securities components of a portfolio may not account, in the aggregate, for more than 20% of the weight of the whole portfolio. III. Discussion and Commission Findings After careful review, the Commission finds that the proposed rule change, as modified by Amendment No. 1, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.10 In particular, the Commission finds that the proposed rule change, as modified by Amendment No. 1, is consistent with Section 6(b)(5) of the Act,11 which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Commission believes that the generic listing standards for Managed Fund Shares, as proposed to be amended, would continue to be designed to prevent manipulation. As noted above, the Exchange proposes to amend Commentary .01(b)(5) to NYSE Arca Rule 8.600–E to allow non-agency, non-GSE, and privately-issued mortgage-related and other asset-backed 9 Commentary .01(b) to NYSE Arca Rule 8.600– E provides that fixed income securities are debt securities that are notes, bonds, debentures or evidence of indebtedness that include, but are not limited to, U.S. Department of Treasury securities, government-sponsored entity (‘‘GSE’’) securities, municipal securities, trust preferred securities, supranational debt and debt of a foreign country or a subdivision thereof, investment grade and high yield corporate debt, bank loans, mortgage and asset backed securities, and commercial paper. 10 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 11 15 U.S.C. 78f(b)(5). E:\FR\FM\07JNN1.SGM 07JNN1

Agencies

[Federal Register Volume 84, Number 110 (Friday, June 7, 2019)]
[Notices]
[Pages 26710-26711]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12038]


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SECURITIES AND EXCHANGE COMMISSION


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:
    Rule 19d-1; SEC File No. 270-242, OMB Control No. 3235-0206

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), 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 Rule 19d-
1 (17 CFR 240.19d-1) under the Securities Exchange Act of 1934 (17 
U.S.C. 78a et seq.) (``Exchange Act'').
    Rule 19d-1 prescribes the form and content of notices to be filed 
with the Commission by self-regulatory organizations (``SROs'') for 
which the Commission is the appropriate regulatory agency concerning 
the following final SRO actions: (1) Disciplinary actions with respect 
to any person; (2) denial, bar, prohibition, or limitation of 
membership, participation or association with a member or of access to 
services offered by an SRO or member thereof; (3) summarily suspending 
a member, participant, or person associated with a member, or summarily 
limiting or prohibiting any persons with respect to access to or 
services offered by the SRO or a member thereof; and (4) delisting a 
security.
    The Rule enables the Commission to obtain reports from the SROs 
containing information regarding SRO determinations to delist a 
security, discipline members or associated persons of members, deny 
membership or participation or association with a member, and similar 
adjudicated findings. The Rule requires that such actions be promptly 
reported to the Commission. The Rule also requires that the reports and 
notices supply sufficient information regarding the background, factual 
basis and issues involved in the proceeding to enable the Commission: 
(1) To determine whether the matter should be called up for review on 
the Commission's own motion; and (2) to ascertain generally whether the 
SRO has adequately carried out its responsibilities under the Exchange 
Act.
    It is estimated that approximately eighteen respondents will 
utilize this application procedure annually, and will file 
approximately 1,350 submissions, based upon recent data. The Commission 
estimates that the average number of hours necessary to comply with the 
requirements of Rule 19d-1 for each submission is 1 hour. The total 
annual burden for all respondents is thus 1,350 hours. The

[[Page 26711]]

Commission estimates that the internal compliance cost per respondent 
is approximately $298 per response. The annual internal cost of 
compliance for all respondents is thus approximately $402,300 (18 
respondents x 75 responses x $298 per response).
    The filing of notices pursuant to Rule 19d-1 is mandatory for the 
SROs, but does not require 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: 
[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: June 4, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-12038 Filed 6-6-19; 8:45 am]
BILLING CODE 8011-01-P
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