Submission for OMB Review; Comment Request, 64125 [2019-25097]

Download as PDF Federal Register / Vol. 84, No. 224 / Wednesday, November 20, 2019 / Notices 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 602, SEC File No. 270–404, OMB Control No. 3235–0461 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 602 of Regulation NMS (17 CFR 240.602), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 602 of Regulation NMS, Dissemination of Quotations in NMS securities, contains two related collections. The first collection of information is found in Rule 602(a).1 This third-party disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each ‘‘subject security,’’ as defined under the Rule. The second collection of information is found in Rule 602(b).2 This disclosure requirement obligates any exchange member and over-thecounter (‘‘OTC’’) market maker that is a ‘‘responsible broker or dealer,’’ as defined under the Rule, to communicate to an exchange or association their best bids, best offers, and quotation sizes for subject securities.3 It is anticipated that twenty-three respondents, consisting of twenty-two national securities exchanges and one national securities association, will collectively respond approximately CFR 242.602(a). CFR 242.602(b). 3 Under Rule 602(b)(5), electronic communications networks (‘‘ECNs’’) have the option of reporting to an exchange or association for public dissemination, on behalf of customers that are OTC market makers or exchange market makers, the best-priced orders and the full size for such orders entered by market makers on the ECN, to satisfy such market makers’ reporting obligation under Rule 602(b). Since this reporting requirement is an alternative method of meeting the market makers’ reporting obligation, and because it is directed to nine or fewer persons (ECNs), this collection of information is not subject to OMB review under the Paperwork Reduction Act (‘‘PRA’’). 5,780,026,336,314 times per year pursuant to Rule 602(a) at 18.22 microseconds per response, resulting in a total annual burden of approximately 30,590 hours. It is anticipated that no respondents will have a reporting burden pursuant to Rule 602(b).4 Thus, the aggregate third-party disclosure burden under Rule 602 is 30,590 hours annually which is comprised of 30,590 hours relating to Rule 602(a) and 0 hours relating to Rule 602(b). Compliance with Rule 602 of Regulation NMS is mandatory and the information collected is made available to the public. 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: November 14, 2019. Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–25097 Filed 11–19–19; 8:45 am] BILLING CODE 8011–01–P 1 17 2 17 VerDate Sep<11>2014 17:21 Nov 19, 2019 Jkt 250001 4 For the reporting obligation under Rule 602(b), the respondents are exchange members and OTC market makers. The Commission believes that communication of quotations through an exchange’s electronic trading system effectively means that exchange members currently have no reporting burden under Rule 602(b) for these quotations. The Commission also believes that there are presently no OTC market makers that quote other than on an exchange. PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 64125 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–87536; File No. SR–LCH SA–2019–010] Self-Regulatory Organizations; LCH SA; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Amendments to LCH SA’s Fee Grid for Non Cash Collateral November 14, 2019. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder 2 notice is hereby given that on October 31, 2019, Banque Centrale de Compensation, which conducts business under the name LCH SA (‘‘LCH SA’’), filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I, II and III below, which Items have been prepared primarily by LCH SA. LCH SA filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act,3 and Rule 19b–4(f)(2) 4 thereunder, so that the proposed rule change was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Clearing Agency’s Statement of the Terms of Substance of the Proposed Rule Change Banque Centrale de Compensation, which conducts business under the name LCH SA (‘‘LCH SA’’), is proposing to review and modify its current fee grid applied for Non Cash Collateral (NCC) across all clearing services including CDSClear. The text of the proposed rule change has been annexed as Exhibit 5.5 II. Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, LCH SA included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. LCH SA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of these statements. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(2). 5 All capitalized terms not defined herein have the same definition as the Rule Book, Supplement or Procedures, as applicable. 2 17 E:\FR\FM\20NON1.SGM 20NON1

Agencies

[Federal Register Volume 84, Number 224 (Wednesday, November 20, 2019)]
[Notices]
[Page 64125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25097]



[[Page 64125]]

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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 602, SEC File No. 270-404, OMB Control No. 3235-0461

    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 602 
of Regulation NMS (17 CFR 240.602), under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a et seq.).
    Rule 602 of Regulation NMS, Dissemination of Quotations in NMS 
securities, contains two related collections. The first collection of 
information is found in Rule 602(a).\1\ This third-party disclosure 
requirement obligates each national securities exchange and national 
securities association to make available to quotation vendors for 
dissemination to the public the best bid, best offer, and aggregate 
quotation size for each ``subject security,'' as defined under the 
Rule. The second collection of information is found in Rule 602(b).\2\ 
This disclosure requirement obligates any exchange member and over-the-
counter (``OTC'') market maker that is a ``responsible broker or 
dealer,'' as defined under the Rule, to communicate to an exchange or 
association their best bids, best offers, and quotation sizes for 
subject securities.\3\
---------------------------------------------------------------------------

    \1\ 17 CFR 242.602(a).
    \2\ 17 CFR 242.602(b).
    \3\ Under Rule 602(b)(5), electronic communications networks 
(``ECNs'') have the option of reporting to an exchange or 
association for public dissemination, on behalf of customers that 
are OTC market makers or exchange market makers, the best-priced 
orders and the full size for such orders entered by market makers on 
the ECN, to satisfy such market makers' reporting obligation under 
Rule 602(b). Since this reporting requirement is an alternative 
method of meeting the market makers' reporting obligation, and 
because it is directed to nine or fewer persons (ECNs), this 
collection of information is not subject to OMB review under the 
Paperwork Reduction Act (``PRA'').
---------------------------------------------------------------------------

    It is anticipated that twenty-three respondents, consisting of 
twenty-two national securities exchanges and one national securities 
association, will collectively respond approximately 5,780,026,336,314 
times per year pursuant to Rule 602(a) at 18.22 microseconds per 
response, resulting in a total annual burden of approximately 30,590 
hours. It is anticipated that no respondents will have a reporting 
burden pursuant to Rule 602(b).\4\
---------------------------------------------------------------------------

    \4\ For the reporting obligation under Rule 602(b), the 
respondents are exchange members and OTC market makers. The 
Commission believes that communication of quotations through an 
exchange's electronic trading system effectively means that exchange 
members currently have no reporting burden under Rule 602(b) for 
these quotations. The Commission also believes that there are 
presently no OTC market makers that quote other than on an exchange.
---------------------------------------------------------------------------

    Thus, the aggregate third-party disclosure burden under Rule 602 is 
30,590 hours annually which is comprised of 30,590 hours relating to 
Rule 602(a) and 0 hours relating to Rule 602(b).
    Compliance with Rule 602 of Regulation NMS is mandatory and the 
information collected is made available to the public.
    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: November 14, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-25097 Filed 11-19-19; 8:45 am]
 BILLING CODE 8011-01-P
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