Submission for OMB Review; Comment Request, 30761 [2020-10876]

Download as PDF Federal Register / Vol. 85, No. 98 / Wednesday, May 20, 2020 / Notices Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: May 15, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–10881 Filed 5–19–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–501, OMB Control No. 3235–0559] 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 203A–2(e) 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 extension and approval of the previously approved collection of information discussed below. Rule 203A–2(e),1 which is entitled ‘‘internet Investment Advisers,’’ exempts from the prohibition on Commission registration an internet investment adviser who provides investment advice to all of its clients exclusively through computer softwarebased models or applications termed under the rule as ‘‘interactive websites.’’ 2 These advisers generally would not meet the statutory thresholds currently set out in section 203A of the Advisers Act 3—they do not manage $25 million or more in assets and do not advise registered investment companies, or they manage between $25 million and $100 million in assets, do not advise registered investment companies or business development companies, and are required to be registered as investment advisers with the states in which they maintain their principal 1 17 CFR 275.203A–2(e). in rule 203A–2(e) is a limited exception to the interactive website requirement which allows these advisers to provide investment advice to fewer than 15 clients through other means on an annual basis. 17 CFR 275.203A–2(e)(1)(i). The rule also precludes advisers in a control relationship with an SEC-registered internet adviser from registering with the Commission under the common control exemption provided by rule 203A– 2(b) (17 CFR 275.203A–2(b)). 17 CFR 275.203A– 2(e)(1)(iii). 3 15 U.S.C. 80b–3a(a). 2 Included VerDate Sep<11>2014 17:51 May 19, 2020 Jkt 250001 offices and places of business and are subject to examination as an adviser by such states.4 Eligibility under rule 203A–2(e) is conditioned on an adviser maintaining in an easily accessible place, for a period of not less than five years from the filing of Form ADV,5 a record demonstrating that the adviser’s advisory business has been conducted through an interactive website in accordance with the rule.6 This record maintenance requirement is a ‘‘collection of information’’ for PRA purposes. The Commission believes that approximately 181 advisers are registered with the Commission under rule 203A–2(e), which involves a recordkeeping requirement of approximately four burden hours per year per adviser and results in an estimated 724 of total burden hours (4 ×181) for all advisers. This collection of information is mandatory, as it is used by Commission staff in its examination and oversight program in order to determine continued Commission registration eligibility of advisers registered under this rule. Responses generally are kept confidential pursuant to section 210(b) of the Advisers Act.7 An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid control number. The public may view background documentation for this information collection at the following website: >www.reginfo.gov<. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to (i) >www.reginfo.gov/public/ do/PRAMain< and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/ o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: May 15, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–10876 Filed 5–19–20; 8:45 am] BILLING CODE 8011–01–P 4 Id. 5 The five-year record retention period is a similar recordkeeping retention period as imposed on all advisers under rule 204–2 of the Advisers Act. See rule 204–2 (17 CFR 275.204–2). 6 17 CFR 275.203A–2(e)(1)(ii). 7 15 U.S.C. 80b–10(b). PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 30761 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–88877; File No. SR–CBOE– 2020–043] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Silexx Trading Platform Fees Schedule May 14, 2020. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on May 1, 2020, Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) proposes to amend the Silexx trading platform (‘‘Silexx’’ or the ‘‘platform’’) Fees Schedule. The text of the proposed rule change is provided in Exhibit 5. The text of the proposed rule change is also available on the Exchange’s website (https://www.cboe.com/ AboutCBOE/CBOELegalRegulatory Home.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\20MYN1.SGM 20MYN1

Agencies

[Federal Register Volume 85, Number 98 (Wednesday, May 20, 2020)]
[Notices]
[Page 30761]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-10876]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-501, OMB Control No. 3235-0559]


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 203A-2(e)

    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 extension and approval of 
the previously approved collection of information discussed below.
    Rule 203A-2(e),\1\ which is entitled ``internet Investment 
Advisers,'' exempts from the prohibition on Commission registration an 
internet investment adviser who provides investment advice to all of 
its clients exclusively through computer software-based models or 
applications termed under the rule as ``interactive websites.'' \2\ 
These advisers generally would not meet the statutory thresholds 
currently set out in section 203A of the Advisers Act \3\--they do not 
manage $25 million or more in assets and do not advise registered 
investment companies, or they manage between $25 million and $100 
million in assets, do not advise registered investment companies or 
business development companies, and are required to be registered as 
investment advisers with the states in which they maintain their 
principal offices and places of business and are subject to examination 
as an adviser by such states.\4\ Eligibility under rule 203A-2(e) is 
conditioned on an adviser maintaining in an easily accessible place, 
for a period of not less than five years from the filing of Form 
ADV,\5\ a record demonstrating that the adviser's advisory business has 
been conducted through an interactive website in accordance with the 
rule.\6\
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    \1\ 17 CFR 275.203A-2(e).
    \2\ Included in rule 203A-2(e) is a limited exception to the 
interactive website requirement which allows these advisers to 
provide investment advice to fewer than 15 clients through other 
means on an annual basis. 17 CFR 275.203A-2(e)(1)(i). The rule also 
precludes advisers in a control relationship with an SEC-registered 
internet adviser from registering with the Commission under the 
common control exemption provided by rule 203A-2(b) (17 CFR 
275.203A-2(b)). 17 CFR 275.203A-2(e)(1)(iii).
    \3\ 15 U.S.C. 80b-3a(a).
    \4\ Id.
    \5\ The five-year record retention period is a similar 
recordkeeping retention period as imposed on all advisers under rule 
204-2 of the Advisers Act. See rule 204-2 (17 CFR 275.204-2).
    \6\ 17 CFR 275.203A-2(e)(1)(ii).
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    This record maintenance requirement is a ``collection of 
information'' for PRA purposes. The Commission believes that 
approximately 181 advisers are registered with the Commission under 
rule 203A-2(e), which involves a recordkeeping requirement of 
approximately four burden hours per year per adviser and results in an 
estimated 724 of total burden hours (4 x181) for all advisers.
    This collection of information is mandatory, as it is used by 
Commission staff in its examination and oversight program in order to 
determine continued Commission registration eligibility of advisers 
registered under this rule. Responses generally are kept confidential 
pursuant to section 210(b) of the Advisers Act.\7\ An agency may not 
conduct or sponsor, and a person is not required to respond to a 
collection of information unless it displays a currently valid control 
number.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 80b-10(b).
---------------------------------------------------------------------------

    The public may view background documentation for this information 
collection at the following website: >www.reginfo.gov<. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) >www.reginfo.gov/public/do/PRAMain< and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: [email protected].

    Dated: May 15, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-10876 Filed 5-19-20; 8:45 am]
BILLING CODE 8011-01-P
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