Self-Regulatory Organizations; NYSE American, LLC; Notice of Withdrawal of Proposed Rule Change To Amend the NYSE American Options Fee Schedule To Modify the Options Regulatory Fee, 51668 [2019-21104]

Download as PDF 51668 Federal Register / Vol. 84, No. 189 / Monday, September 30, 2019 / Notices khammond on DSKJM1Z7X2PROD with NOTICES Rule 15Ba2–1 and Form MSD, SEC File No. 270–0088, OMB Control No. 3235–0083. 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 extension of the previously approved collection of information provided for in Rule 15Ba2–1 (17 CFR 240.15Ba2–1) and Form MSD (17 CFR 249.1100) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et seq.). Rule 15Ba2–1 provides that an application for registration with the Commission by a bank municipal securities dealer must be filed on Form MSD. The Commission uses the information obtained from Form MSD filings to determine whether bank municipal securities dealers meet the standards for registration set forth in the Exchange Act, to make information about particular bank municipal securities dealers available to customers and members of the public, and to develop risk assessment information about bank municipal securities dealers. Form MSD is a one-time registration form that must be amended only if it becomes inaccurate. Based upon past submissions of two initial filings and 11 amendments in 2016, zero initial filings and 22 amendments in 2017, zero initial filings and 18 amendments in 2018, and zero initial filings and zero amendments so far in 2019, the Commission estimates that on an annual basis approximately 1 respondent will utilize Form MSD for an initial registration application, and that approximately 13 respondents will utilize Form MSD for an amendment, for a total of 14 respondents per year. The time required to complete Form MSD varies with the size and complexity of the bank municipal securities dealer’s proposed operations. Bank personnel that prepare Form MSD filings previously indicated that it can take up to 15 hours for a bank with a large operation and many employees to complete the form, but that smaller banks with fewer personnel can complete the form in one to two hours. We believe that most recent applications have come from smaller banks. Also, amendments to form MSD are likely to require significantly less time. We estimate that the total annual burden is currently 21 hours at an average of 1.5 hours per respondent. (14 VerDate Sep<11>2014 19:16 Sep 27, 2019 Jkt 247001 respondents/year × 1.5 hours/ respondent = 21 hours/year). The staff estimates that the average internal compliance cost per hour is approximately $417.1 Therefore, the estimated total annual cost of compliance is approximately $8,757 per year (21 hours/year × $417/hour = $8,757/year). Rule 15Ba2–1 does not contain an explicit recordkeeping requirement, but the rule does require the prompt correction of any information on Form MSD that becomes inaccurate, meaning that bank municipal securities dealers need to maintain a current copy of Form MSD indefinitely. In addition, the instructions for filing Form MSD state that an exact copy should be retained by the registrant. Providing the information on the application is mandatory in order to register with the Commission as a bank municipal securities dealer. The information contained in the application will not be kept confidential. 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. 2019–21078 Filed 9–27–19; 8:45 am] BILLING CODE 8011–01–P 7 17 PO 00000 CFR 200.30–3(a)(12). Frm 00161 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–87090; File No. SR– NYSEAMER–2019–27] Self-Regulatory Organizations; NYSE American, LLC; Notice of Withdrawal of Proposed Rule Change To Amend the NYSE American Options Fee Schedule To Modify the Options Regulatory Fee September 24, 2019. On July 2, 2019, NYSE American, LLC (‘‘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 Exchange’s fee schedule to modify the amount of its Options Regulatory Fee. The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register on July 22, 2019.4 The Commission received one comment letter, which criticized the proposal.5 On September August 30, 2019, pursuant to Section 19(b)(3)(C) of the Act, the Commission temporarily suspended the proposed rule change and instituted proceedings under Section 19(b)(2)(B) of the Act to determine whether to approve or disapprove the proposed rule change.6 On September 16, 2019, the Exchange withdrew the proposed rule change (SR–NYSEAMER–2019–27). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–21104 Filed 9–27–19; 8:45 am] BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 See Securities Exchange Act Release No. 86391 (July 16, 2019), 84 FR 35165. 5 See Letter to Vanessa Countryman, Secretary, Commission, from Ellen Greene, Managing Director, Securities Industry and Financial Markets Association, dated August 27, 2019. 6 See Securities Exchange Act Release No. 86833, 84 FR 47029 (September 6, 2019). 7 17 CFR 200.30–3(a)(12). 2 17 E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

[Federal Register Volume 84, Number 189 (Monday, September 30, 2019)]
[Notices]
[Page 51668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21104]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87090; File No. SR-NYSEAMER-2019-27]


Self-Regulatory Organizations; NYSE American, LLC; Notice of 
Withdrawal of Proposed Rule Change To Amend the NYSE American Options 
Fee Schedule To Modify the Options Regulatory Fee

September 24, 2019.
    On July 2, 2019, NYSE American, LLC (``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 
Exchange's fee schedule to modify the amount of its Options Regulatory 
Fee. The proposed rule change was immediately effective upon filing 
with the Commission pursuant to Section 19(b)(3)(A) of the Act.\3\ The 
proposed rule change was published for comment in the Federal Register 
on July 22, 2019.\4\ The Commission received one comment letter, which 
criticized the proposal.\5\ On September August 30, 2019, pursuant to 
Section 19(b)(3)(C) of the Act, the Commission temporarily suspended 
the proposed rule change and instituted proceedings under Section 
19(b)(2)(B) of the Act to determine whether to approve or disapprove 
the proposed rule change.\6\ On September 16, 2019, the Exchange 
withdrew the proposed rule change (SR-NYSEAMER-2019-27).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ See Securities Exchange Act Release No. 86391 (July 16, 
2019), 84 FR 35165.
    \5\ See Letter to Vanessa Countryman, Secretary, Commission, 
from Ellen Greene, Managing Director, Securities Industry and 
Financial Markets Association, dated August 27, 2019.
    \6\ See Securities Exchange Act Release No. 86833, 84 FR 47029 
(September 6, 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).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-21104 Filed 9-27-19; 8:45 am]
BILLING CODE 8011-01-P
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