Submission for OMB Review; Comment Request, 48692-48693 [2019-19976]

Download as PDF 48692 Federal Register / Vol. 84, No. 179 / Monday, September 16, 2019 / Notices jspears on DSK3GMQ082PROD with NOTICES satisfaction of the Rule 4.10 restrictions that continue to apply to ensure adequate financial and operational capabilities to continue to perform contracts and otherwise conduct business safely for market participants, thereby protecting market participants. The Exchange also believes that the proposed rule change does not impact a Market-Maker clearing TPH’s regular financial or operational maintenance or ability to assess and conduct a SBT because SBTs occur infrequently. The proposed rule change makes it clear that if a Market-Maker clearing TPH anticipates an SBT that may require prior Exchange approval, then the TPH may contact the Exchange to determine whether the TPH exceeds the parameters under Rule 4.10(b)(2). In addition to this, the Exchange believes that the proposed rule change will not present any new or unique issues for clearing TPHs because the rules of other options exchanges, which have substantially similar SBT parameters and have previously been filed with the Commission, do not require the exchanges to provide monthly notices to their members regarding their proportion of market making clearing business or otherwise indicate to their members that they exceed, or may exceed, SBT parameters.10 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. In particular, the proposed rule change is not intended to address competitive issues but rather is concerned with facilitating less burdensome and more efficient regulatory administration. The Exchange does not believe that the proposed rule change will impose any intramarket competition, because all Market-Maker clearing TPHs are free to contact the Exchange to determine its standing in regard to the SBT parameters. The proposed rule change does not change the restrictions imposed on these TPHs, which will continue to apply to Market-Maker Clearing TPHs in the same manner. Further, the Exchange does not believe the proposed rule change will impose any burden on intermarket competition because the rules of other options exchanges, which have been previously filed with the Commission, provide for substantially similar parameters in connection with the impact of a clearing member’s SBTs but do not contain a 10 See supra note 6. VerDate Sep<11>2014 18:14 Sep 13, 2019 Jkt 247001 provision that requires such exchanges to send monthly notice to clearing members or otherwise indicate to their clearing members that they exceed such criteria.11 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 proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) 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 12 and subparagraph (f)(6) of Rule 19b–4 thereunder.13 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 will 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: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or 11 Id. 12 15 U.S.C. 78s(b)(3)(A). 13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization to 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. PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 • Send an email to rule-comments@ sec.gov. Please include File Number SR– CBOE–2019–055 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–CBOE–2019–055. 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–CBOE–2019–055 and should be submitted on or before October 7, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.14 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–19900 Filed 9–13–19; 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 14 17 E:\FR\FM\16SEN1.SGM CFR 200.30–3(a)(12). 16SEN1 Federal Register / Vol. 84, No. 179 / Monday, September 16, 2019 / Notices Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 jspears on DSK3GMQ082PROD with NOTICES Extension: Rule 17Ad–10, SEC File No. 270–265, OMB Control No. 3235–0273 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 17Ad–10 (17 CFR 240.17Ad–10), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17Ad–10 generally requires registered transfer agents to: (1) Create and maintain current and accurate securityholder records; (2) promptly and accurately record all transfers, purchases, redemptions, and issuances, and notify their appropriate regulatory agency if they are unable to do so; (3) exercise diligent and continuous attention in resolving record inaccuracies; (4) disclose to the issuers for whom they perform transfer agent functions and to their appropriate regulatory agency information regarding record inaccuracies; (5) buy-in certain record inaccuracies that result in a physical over issuance of securities; and (6) communicate with other transfer agents related to the same issuer. These requirements assist in the creation and maintenance of accurate securityholder records, enhance the ability to research errors, and ensure the transfer agent is aware of the number of securities that are properly authorized by the issuer, thereby avoiding over issuance. The rule also has specific recordkeeping requirements. It requires registered transfer agents to retain certificate detail that has been deleted for six years and keep current an accurate record of the number of shares or principal dollar amount of debt securities that the issuer has authorized to be outstanding. These mandatory requirements ensure accurate securityholder records and assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rule. This rule does not involve the collection of confidential information. There are approximately 333 registered transfer agents. We estimate that the average number of hours necessary for each transfer agent to comply with Rule 17Ad–10 is approximately 80 hours per year, which generates an industry-wide annual burden of 26,640 hours (333 times 80 VerDate Sep<11>2014 18:14 Sep 13, 2019 Jkt 247001 hours). This burden is primarily of a recordkeeping nature but also includes a small amount of third party disclosure. At an average staff cost of $50 per hour, the industry-wide internal labor cost of compliance (a monetization of the burden hours) is approximately $1,332,000 per year (26,640 × $50). In addition, we estimate that each transfer agent will incur an annual external cost burden of $18,000 resulting from the collection of information. Therefore, the total annual external cost on the entire transfer agent industry is approximately $5,994,000 ($18,000 times 333). This cost primarily reflects ongoing computer operations and maintenance associated with generating, maintaining, and disclosing or providing certain information required by the rule. The amount of time any particular transfer agent will devote to Rule 17Ad– 10 compliance will vary according to the size and scope of the transfer agent’s business activity. We note, however, that at least some of the records, processes, and communications required by Rule 17Ad–10 would likely be maintained, generated, and used for transfer agent business purposes even without the rule. 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: September 11, 2019. Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–19976 Filed 9–13–19; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 48693 SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, Washington, DC 20549–2736. Extension: Rule 201 and Rule 200(g) of Regulation SHO, SEC File No. 270–606, OMB Control No. 3235–0670 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’’) is soliciting comments on the existing collection of information provided for in Rule 201 (17 CFR 242.201) and Rule 200(g) (17 CFR 242.200(g)) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 201 is a short sale-related circuit breaker rule that, if triggered, imposes a restriction on the prices at which securities may be sold short. Rule 200(g) provides that a broker-dealer may mark certain qualifying sell orders ‘‘short exempt.’’ The information collected under Rule 201’s written policies and procedures requirement applicable to trading centers, the written policies and procedures requirement of the brokerdealer provision of Rule 201(c), the written policies and procedures requirement of the riskless principal provision of Rule 201(d)(6), and the ‘‘short exempt’’ marking requirement of Rule 200(g) enable the Commission and self-regulatory organizations (‘‘SROs’’) to examine and monitor for compliance with the requirements of Rule 201 and Rule 200(g). In addition, the information collected under Rule 201’s written policies and procedures requirement applicable to trading centers help ensure that trading centers do not execute or display any impermissibly priced short sale orders, unless an order is marked ‘‘short exempt,’’ in accordance with the Rule’s requirements. Similarly, the information collected under the written policies and procedures requirement of the brokerdealer provision of Rule 201(c) and the riskless principal provision of Rule 201(d)(6) help to ensure that brokerdealers comply with the requirements of these provisions. The information collected pursuant to the ‘‘short exempt’’ marking requirement of Rule 200(g) also provides an indication to a trading center when it must execute or E:\FR\FM\16SEN1.SGM 16SEN1

Agencies

[Federal Register Volume 84, Number 179 (Monday, September 16, 2019)]
[Notices]
[Pages 48692-48693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19976]


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

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange

[[Page 48693]]

Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rule 17Ad-10, SEC File No. 270-265, OMB Control No. 3235-0273

    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 
17Ad-10 (17 CFR 240.17Ad-10), under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17Ad-10 generally requires registered transfer agents to: (1) 
Create and maintain current and accurate securityholder records; (2) 
promptly and accurately record all transfers, purchases, redemptions, 
and issuances, and notify their appropriate regulatory agency if they 
are unable to do so; (3) exercise diligent and continuous attention in 
resolving record inaccuracies; (4) disclose to the issuers for whom 
they perform transfer agent functions and to their appropriate 
regulatory agency information regarding record inaccuracies; (5) buy-in 
certain record inaccuracies that result in a physical over issuance of 
securities; and (6) communicate with other transfer agents related to 
the same issuer. These requirements assist in the creation and 
maintenance of accurate securityholder records, enhance the ability to 
research errors, and ensure the transfer agent is aware of the number 
of securities that are properly authorized by the issuer, thereby 
avoiding over issuance.
    The rule also has specific recordkeeping requirements. It requires 
registered transfer agents to retain certificate detail that has been 
deleted for six years and keep current an accurate record of the number 
of shares or principal dollar amount of debt securities that the issuer 
has authorized to be outstanding. These mandatory requirements ensure 
accurate securityholder records and assist the Commission and other 
regulatory agencies with monitoring transfer agents and ensuring 
compliance with the rule. This rule does not involve the collection of 
confidential information.
    There are approximately 333 registered transfer agents. We estimate 
that the average number of hours necessary for each transfer agent to 
comply with Rule 17Ad-10 is approximately 80 hours per year, which 
generates an industry-wide annual burden of 26,640 hours (333 times 80 
hours). This burden is primarily of a recordkeeping nature but also 
includes a small amount of third party disclosure. At an average staff 
cost of $50 per hour, the industry-wide internal labor cost of 
compliance (a monetization of the burden hours) is approximately 
$1,332,000 per year (26,640 x $50).
    In addition, we estimate that each transfer agent will incur an 
annual external cost burden of $18,000 resulting from the collection of 
information. Therefore, the total annual external cost on the entire 
transfer agent industry is approximately $5,994,000 ($18,000 times 
333). This cost primarily reflects ongoing computer operations and 
maintenance associated with generating, maintaining, and disclosing or 
providing certain information required by the rule.
    The amount of time any particular transfer agent will devote to 
Rule 17Ad-10 compliance will vary according to the size and scope of 
the transfer agent's business activity. We note, however, that at least 
some of the records, processes, and communications required by Rule 
17Ad-10 would likely be maintained, generated, and used for transfer 
agent business purposes even without the rule.
    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: September 11, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-19976 Filed 9-13-19; 8:45 am]
BILLING CODE 8011-01-P
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