Proposed Collection; Comment Request, 19050-19051 [2020-07022]

Download as PDF 19050 Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments [FR Doc. 2020–06956 Filed 4–2–20; 8:45 am] • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– DTC–2020–007 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. jbell on DSKJLSW7X2PROD with NOTICES For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.21 J. Matthew DeLesDernier, Assistant Secretary. All submissions should refer to File Number SR–DTC–2020–007. 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 DTC and on DTCC’s website (https://dtcc.com/legal/sec-rulefilings.aspx). 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–DTC– 2020–007 and should be submitted on or before April 24, 2020. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–196, OMB Control No. 3235–0202] Proposed Collection; 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 15c2–11 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 15c2–11, (17 CFR 240.15c2–11), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 15c2–11 under the Exchange Act regulates the initiation or resumption of quotations in a quotation medium by a broker-dealer for over-the-counter (‘‘OTC’’) securities. The Rule is intended to prevent broker-dealers from initiating or resuming quotations for OTC securities that may facilitate a fraudulent or manipulative scheme. Subject to certain exceptions, the Rule prohibits broker-dealers from publishing a quotation for a security, or submitting a quotation for publication, in a quotation medium unless they have reviewed specified information concerning the security and the issuer. With respect to the securities of certain private issuers, a broker-dealer must make such information reasonably available upon request to any person expressing an interest in a proposed transaction in the security with such broker or dealer. Based on information provided by the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’), we understand that in the 2019 calendar year, approximately 34 broker-dealers 21 17 VerDate Sep<11>2014 17:45 Apr 02, 2020 Jkt 250001 PO 00000 CFR 200.30–3(a)(12). Frm 00138 Fmt 4703 Sfmt 4703 completed information reviews pursuant to the Rule for 384 securities— 87 concerning securities of reporting issuers, and 297 concerning securities of non-reporting issuers. The collection of information that is submitted to FINRA for review and approval is currently not available to the public from FINRA. We estimate that it will take a brokerdealer 4 hours to review, record and retain the information pertaining to a reporting issuer (approximately 3 hours relating to recordkeeping and one hour relating to third-party disclosure), and 8 hours to review, record and retain the information pertaining to a nonreporting issuer (approximately 7 hours relating to recordkeeping and one hour relating to third-party disclosure). We therefore estimate that the total time burden for recordkeeping associated with the information review requirement of the Rule will be 2,340 hours [for (87 reviews for reporting issuers × 3 hours) + (297 reviews for non-reporting issuers × 7 hours)]; and the total time burden for third-party disclosure associated with the information review requirement of the Rule will be 384 hours [for (87 reviews for reporting issuers × 1 hour) + (297 reviews for non-reporting issuers × 1 hour)]. Thus, we estimate the industrywide total annual burden hours associated with the information review requirement under the Rule to be 2,724 hours (2,340 hours for recordkeeping + 384 hours for third-party disclosure). The Commission believes that the internal compliance costs for these 2,724 hours would be borne by internal staff working at a rate of $62 per hour.1 Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. 1 The $62 per hour figure for a General Clerk is from SIFMA’s Office Salaries in the Securities Industry 2013, modified by Commission staff to account for an 1800-hourwork-year and inflation, and multiplied by 2.93 to account for bonuses, firm size, employee benefits and overhead. E:\FR\FM\03APN1.SGM 03APN1 Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices 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. Please direct your written comments to: David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: March 31, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–07022 Filed 4–2–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–189, OMB Control No. 3235–0201] Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–27363. jbell on DSKJLSW7X2PROD with NOTICES Extension: Rule 17a–2. 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’’) is soliciting comments on the existing collection of information provided for in Rule 17a–2 (17 CFR 240.17a–2), 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 17a–2—Recordkeeping Requirements Relating to Stabilizing Activities—requires underwriters to maintain information regarding stabilizing activities conducted in accordance with Rule 104 of Regulation M. The collections of information under Regulation M and Rule 17a–2 are necessary for covered persons to obtain certain benefits or to comply with certain requirements. The collections of information are necessary to provide the Commission with information regarding syndicate covering transactions and penalty bids. The Commission may review this information during periodic examinations or with respect to investigations. Except for the information required to be kept under Rule 104(i) (17 CFR 242.104(i)) and Rule 17a–2(c), none of the information VerDate Sep<11>2014 17:45 Apr 02, 2020 Jkt 250001 required to be collected or disclosed for PRA purposes will be kept confidential. The recordkeeping requirement of Rule 17a–2 requires the information be maintained in a separate file, or in a separately retrievable format, for a period of three years, the first two years in an easily accessible place, consistent with the requirements of Exchange Act Rule 17a–4(f) (17 CFR 240.17a–4(f)). There are approximately 805 respondents per year that require an aggregate total of 4,025 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 5 hours to complete. Thus, the total compliance burden per year is 4,025 burden hours. The total estimated internal compliance cost for the respondents is approximately $281,750, resulting in an internal cost of compliance for each respondent per response of approximately $350.00 (i.e., $281,750.00/805 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. 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. Please direct your written comments to: David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: March 31, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–07023 Filed 4–2–20; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00139 Fmt 4703 Sfmt 4703 19051 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–410, OMB Control No. 3235–0466] Proposed Collection; 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 103 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’’) is soliciting comments on the existing collection of information provided for in Rule 103 of Regulation M (17 CFR 242.103), 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 103—Nasdaq Passive Market Making—permits passive marketmaking in Nasdaq securities during a distribution. A distribution participant that seeks use of this exception would be required to disclose to third parties its intention to engage in passive market making. There are approximately 307 respondents per year that require an aggregate total of 307 hours to comply with this rule. Each respondent makes an estimated 1 annual response. Each response takes approximately 1 hour to complete. Thus, the total compliance burden per year is 307 burden hours. The total estimated internal labor cost of compliance for the respondents is approximately $21,490.00 per year, resulting in an estimated internal labor cost of compliance per response of approximately $70.00 (i.e., $21,490.00/ 307 responses). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. E:\FR\FM\03APN1.SGM 03APN1

Agencies

[Federal Register Volume 85, Number 65 (Friday, April 3, 2020)]
[Notices]
[Pages 19050-19051]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07022]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-196, OMB Control No. 3235-0202]


Proposed Collection; 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 15c2-11

    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 15c2-11, (17 
CFR 240.15c2-11), under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) (``Exchange Act''). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    Rule 15c2-11 under the Exchange Act regulates the initiation or 
resumption of quotations in a quotation medium by a broker-dealer for 
over-the-counter (``OTC'') securities. The Rule is intended to prevent 
broker-dealers from initiating or resuming quotations for OTC 
securities that may facilitate a fraudulent or manipulative scheme. 
Subject to certain exceptions, the Rule prohibits broker-dealers from 
publishing a quotation for a security, or submitting a quotation for 
publication, in a quotation medium unless they have reviewed specified 
information concerning the security and the issuer. With respect to the 
securities of certain private issuers, a broker-dealer must make such 
information reasonably available upon request to any person expressing 
an interest in a proposed transaction in the security with such broker 
or dealer.
    Based on information provided by the Financial Industry Regulatory 
Authority, Inc. (``FINRA''), we understand that in the 2019 calendar 
year, approximately 34 broker-dealers completed information reviews 
pursuant to the Rule for 384 securities--87 concerning securities of 
reporting issuers, and 297 concerning securities of non-reporting 
issuers. The collection of information that is submitted to FINRA for 
review and approval is currently not available to the public from 
FINRA.
    We estimate that it will take a broker-dealer 4 hours to review, 
record and retain the information pertaining to a reporting issuer 
(approximately 3 hours relating to recordkeeping and one hour relating 
to third-party disclosure), and 8 hours to review, record and retain 
the information pertaining to a non-reporting issuer (approximately 7 
hours relating to recordkeeping and one hour relating to third-party 
disclosure). We therefore estimate that the total time burden for 
recordkeeping associated with the information review requirement of the 
Rule will be 2,340 hours [for (87 reviews for reporting issuers x 3 
hours) + (297 reviews for non-reporting issuers x 7 hours)]; and the 
total time burden for third-party disclosure associated with the 
information review requirement of the Rule will be 384 hours [for (87 
reviews for reporting issuers x 1 hour) + (297 reviews for non-
reporting issuers x 1 hour)]. Thus, we estimate the industrywide total 
annual burden hours associated with the information review requirement 
under the Rule to be 2,724 hours (2,340 hours for recordkeeping + 384 
hours for third-party disclosure). The Commission believes that the 
internal compliance costs for these 2,724 hours would be borne by 
internal staff working at a rate of $62 per hour.\1\
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    \1\ The $62 per hour figure for a General Clerk is from SIFMA's 
Office Salaries in the Securities Industry 2013, modified by 
Commission staff to account for an 1800-hourwork-year and inflation, 
and multiplied by 2.93 to account for bonuses, firm size, employee 
benefits and overhead.
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    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.

[[Page 19051]]

    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: March 31, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-07022 Filed 4-2-20; 8:45 am]
BILLING CODE 8011-01-P
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