Submission for OMB Review; Comment Request, 51696 [2019-21083]

Download as PDF 51696 Federal Register / Vol. 84, No. 189 / Monday, September 30, 2019 / Notices • Send an email to rule-comments@ sec.gov. Please include File Number SR– CBOE–2019–062 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–2019–062. 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–2019–062 and should be submitted on or before October 21, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–21103 Filed 9–27–19; 8:45 am] khammond on DSKJM1Z7X2PROD with NOTICES BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange 25 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 19:16 Sep 27, 2019 Jkt 247001 Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. Extension: Rule 10b–10, SEC File No. 270–389, OMB Control No. 3235–0444. 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 10b–10 (17 CFR 240.10b–10) under the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 10b–10 requires broker-dealers to convey specified information to customers regarding their securities transactions. This information includes the date and time of the transaction, the identity and number of shares bought or sold, and whether the broker-dealer acts as agent for the customer or as principal for its own account. Depending on whether the broker-dealer acts as agent or principal, Rule 10b–10 requires the disclosure of commissions, as well as mark-up and mark-down information. For transactions in debt securities, Rule 10b–10 requires the disclosure of redemption and yield information. Rule 10b–10 potentially applies to all of the approximately 3,750 firms registered with the Commission that effect transactions for or with customers. Based on information provided by registered broker-dealers to the Commission in FOCUS Reports, the Commission staff estimates that on average, registered broker-dealers process approximately 18,843,624,843 order tickets per year for transactions for or with customers. Each order ticket representing a transaction effected for or with a customer generally results in one confirmation. Therefore, the Commission staff estimates that approximately 18,843,624,843 confirmations are sent to customers annually. The confirmations required by Rule 10b–10 are generally processed through automated systems. It takes approximately 30 seconds to generate and send a confirmation. Accordingly, the Commission staff estimates that broker-dealers spend approximately 157,030,207 hours per year complying with Rule 10b–10 (18,843,624,843 × .5 ÷ 60). The amount of confirmations sent and the cost of sending each confirmation varies from firm to firm. Smaller firms generally send fewer confirmations than larger firms because they effect fewer transactions. The Commission staff PO 00000 Frm 00189 Fmt 4703 Sfmt 4703 estimates the costs of producing and sending a paper confirmation, including postage, to be approximately 63 cents. The Commission staff also estimates that the cost of producing and sending a wholly electronic confirmation is approximately 39 cents. Based on informal discussions with industry participants, as well as representations made in requests for exemptive and noaction letters relating to Rule 10b–10, the staff estimates that broker-dealers used electronic confirmations for approximately 35 percent of transactions. Based on these calculations, Commission staff estimates that 12,248,356,148 paper confirmations are mailed each year at a cost of $7,716,464,373. Commission staff also estimates that 6,595,268,695 wholly electronic confirmations are sent each year at a cost of $2,572,154,791. Accordingly, Commission staff estimates that the total annual cost associated with generating and delivering to investors the information required under Rule 10b–10 would be $10,288,619,164. 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 24, 2019. Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–21083 Filed 9–27–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public TIME AND DATE: E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

[Federal Register Volume 84, Number 189 (Monday, September 30, 2019)]
[Notices]
[Page 51696]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21083]


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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 10b-10, SEC File No. 270-389, OMB Control No. 3235-0444.

    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 
10b-10 (17 CFR 240.10b-10) under the Securities and Exchange Act of 
1934 (15 U.S.C. 78a et seq.).
    Rule 10b-10 requires broker-dealers to convey specified information 
to customers regarding their securities transactions. This information 
includes the date and time of the transaction, the identity and number 
of shares bought or sold, and whether the broker-dealer acts as agent 
for the customer or as principal for its own account. Depending on 
whether the broker-dealer acts as agent or principal, Rule 10b-10 
requires the disclosure of commissions, as well as mark-up and mark-
down information. For transactions in debt securities, Rule 10b-10 
requires the disclosure of redemption and yield information. Rule 10b-
10 potentially applies to all of the approximately 3,750 firms 
registered with the Commission that effect transactions for or with 
customers.
    Based on information provided by registered broker-dealers to the 
Commission in FOCUS Reports, the Commission staff estimates that on 
average, registered broker-dealers process approximately 18,843,624,843 
order tickets per year for transactions for or with customers. Each 
order ticket representing a transaction effected for or with a customer 
generally results in one confirmation. Therefore, the Commission staff 
estimates that approximately 18,843,624,843 confirmations are sent to 
customers annually. The confirmations required by Rule 10b-10 are 
generally processed through automated systems. It takes approximately 
30 seconds to generate and send a confirmation. Accordingly, the 
Commission staff estimates that broker-dealers spend approximately 
157,030,207 hours per year complying with Rule 10b-10 (18,843,624,843 x 
.5 / 60).
    The amount of confirmations sent and the cost of sending each 
confirmation varies from firm to firm. Smaller firms generally send 
fewer confirmations than larger firms because they effect fewer 
transactions. The Commission staff estimates the costs of producing and 
sending a paper confirmation, including postage, to be approximately 63 
cents. The Commission staff also estimates that the cost of producing 
and sending a wholly electronic confirmation is approximately 39 cents. 
Based on informal discussions with industry participants, as well as 
representations made in requests for exemptive and no-action letters 
relating to Rule 10b-10, the staff estimates that broker-dealers used 
electronic confirmations for approximately 35 percent of transactions. 
Based on these calculations, Commission staff estimates that 
12,248,356,148 paper confirmations are mailed each year at a cost of 
$7,716,464,373. Commission staff also estimates that 6,595,268,695 
wholly electronic confirmations are sent each year at a cost of 
$2,572,154,791. Accordingly, Commission staff estimates that the total 
annual cost associated with generating and delivering to investors the 
information required under Rule 10b-10 would be $10,288,619,164.
    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 24, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-21083 Filed 9-27-19; 8:45 am]
BILLING CODE 8011-01-P
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