Proposed Collection; Comment Request, 47442-47443 [2020-17010]
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47442
Federal Register / Vol. 85, No. 151 / Wednesday, August 5, 2020 / Notices
Filing Dates: The application was
filed on October 17, 2019, and amended
on March 10, 2020 and June 23, 2020.
Applicant’s Address: Legal@mfs.com.
USL Separate Account USL B [File No.
811–04865–01]
Summary: Applicant, a unit
investment trust, seeks an order
declaring that it has ceased to be an
investment company. The applicant has
transferred its assets to USL Separate
Account USL VL–R. Expenses of less
than $10,000 incurred in connection
with the reorganization were paid by
The United States Life Insurance
Company in the City of New York.
Filing Dates: The application was
filed on December 19, 2019, and
amended on June 26, 2020.
Applicant’s Address: lucia.williams@
aig.com.
USL Separate Account USL VA–R [File
No. 811–09007]
Summary: Applicant, a unit
investment trust, seeks an order
declaring that it has ceased to be an
investment company. The applicant has
transferred its assets to USL Separate
Account USL A. Expenses of less than
$10,000 incurred in connection with the
reorganization were paid by The United
States Life Insurance Company in the
City of New York.
Filing Dates: The application was
filed on December 19, 2019, and
amended on June 26, 2020.
Applicant’s Address: lucia.williams@
aig.com.
Variable Annuity Account One of First
SunAmerica Life Insurance Company
[File No. 811–06313]
jbell on DSKJLSW7X2PROD with NOTICES
Summary: Applicant, a unit
investment trust, seeks an order
declaring that it has ceased to be an
investment company. The applicant has
transferred its assets to FS Variable
Separate Account. Expenses of less than
$10,000 incurred in connection with the
reorganization were paid by The United
States Life Insurance Company in the
City of New York.
Filing Dates: The application was
filed on December 19, 2019, and
amended on June 26, 2020.
Applicant’s Address: lucia.williams@
aig.com.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–17106 Filed 8–4–20; 8:45 am]
BILLING CODE 8011–01–P
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SECURITIES AND EXCHANGE
COMMISSION
[SEC File. No. 270–94, OMB Control No.
3235–0085]
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 17a–11
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–11,
Notification Provisions for Brokers and
Dealers (17 CFR 240.17a–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.
In response to an operational crisis in
the securities industry between 1967
and 1970, the Commission adopted Rule
17a–11 (17 CFR 240.17a–11) under the
Exchange Act on July 11, 1971. The
Rule requires broker-dealers that are
experiencing financial or operational
difficulties to provide notice to the
Commission, the broker-dealer’s
designated examining authority
(‘‘DEA’’), and the Commodity Futures
Trading Commission (‘‘CFTC’’) if the
broker-dealer is registered with the
CFTC as a futures commission
merchant. Rule 17a–11 is an integral
part of the Commission’s financial
responsibility program which enables
the Commission, a broker-dealer’s DEA,
and the CFTC to increase surveillance of
a broker-dealer experiencing difficulties
and to obtain any additional
information necessary to gauge the
broker-dealer’s financial or operational
condition.
Rule 17a–11 also requires over-thecounter (‘‘OTC’’) derivatives dealers and
broker-dealers that are permitted to
compute net capital pursuant to
Appendix E to Exchange Act Rule 15c3–
1 to notify the Commission when their
tentative net capital drops below certain
levels.
To ensure the provision of these types
of notices to the Commission, Rule 17a–
11 requires every national securities
exchange or national securities
association to notify the Commission
when it learns that a member broker-
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
dealer has failed to send a notice or
transmit a report required under the
Rule.
Compliance with the Rule is
mandatory. The Commission will
generally not publish or make available
to any person notices or reports received
pursuant to Rule 17a–11. The
Commission believes that information
obtained under Rule 17a–11 relates to a
condition report prepared for the use of
the Commission, other federal
governmental authorities, and securities
industry self-regulatory organizations
responsible for the regulation or
supervision of financial institutions.
The Commission expects to receive
343 notices from broker-dealers whose
capital declines below certain specified
levels or who are otherwise
experiencing financial or operational
problems and eleven notices each year
from national securities exchange or
national securities association notifying
it that a member broker-dealer has failed
to send the Commission a notice or
transmit a report required under the
Rule. The Commission expects that it
will take approximately one hour to
prepare and transmit each notice.
Therefore, the Commission estimates
the total annual reporting burden arising
from this section of the rule will be
approximately 354 hours.1
Rule 17a–11 also requires brokerdealers engaged in securities lending or
repurchase activities to either: (1) File a
notice with the Commission and their
DEA whenever the total money payable
against all securities loaned, subject to
a reverse repurchase agreement or the
contract value of all securities borrowed
or subject to a repurchase agreement,
exceeds 2,500% of tentative net capital;
or, alternatively, (2) report monthly
their securities lending and repurchase
activities to their DEA in a form
acceptable to their DEA.
The Commission estimates that,
annually, six broker-dealers will submit
the monthly stock loan/borrow report.
The Commission estimates each firm
will spend, on average, approximately
one hour per month (or twelve hours
per year) of employee resources to
prepare and send the report or to
prepare the information for the FOCUS
report (as required by the firm’s DEA, if
applicable). Therefore, the Commission
estimates the total annual reporting
burden arising from this section of the
rule will be approximately 72 hours.2
Therefore, the total annual reporting
burden associated with Rule 17a–11 is
approximately 426 hours.3
1 343
hours + 11 hours = 354 hours.
broker-dealers × 12 hours per year = 72 hours.
3 343 hours + 11 hours + 72 hours = 426 hours.
26
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Federal Register / Vol. 85, No. 151 / Wednesday, August 5, 2020 / Notices
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.
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: July 30, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–17010 Filed 8–4–20; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the Rule
11.6800 Series
jbell on DSKJLSW7X2PROD with NOTICES
July 30, 2020.
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 July 27,
2020, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
Commission is publishing this notice to
U.S.C. 78a.
CFR 240.19b–4.
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The Exchange proposes to amend the
Rule 11.6800 Series, the Exchange’s
compliance rule (‘‘Compliance Rule’’)
regarding the National Market System
Plan Governing the Consolidated Audit
Trail (the ‘‘CAT NMS Plan’’ or ‘‘Plan’’) 3
to be consistent with an amendment to
the CAT NMS Plan recently approved
by the Commission. The proposed rule
change is available on the Exchange’s
website at www.nyse.com, at the
principal office of the Exchange, 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
self-regulatory organization 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 those 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 parts of such
statements.
1. Purpose
[Release No. 34–89432; File No. SR–
NYSEArca-2020–71]
2 17
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
1 15
solicit comments on the proposed rule
change from interested persons.
The purpose of this proposed rule
change is to amend the Rule 11.6800
Series, the Compliance Rule regarding
the CAT NMS Plan, to be consistent
with an amendment to the CAT NMS
Plan recently approved by the
Commission.4 The Commission
approved an amendment to the CAT
NMS Plan to amend the requirements
for Firm Designated IDs in four ways: (1)
To prohibit the use of account numbers
as Firm Designated IDs for trading
accounts that are not proprietary
accounts; (2) to require that the Firm
Designated ID for a trading account be
persistent over time for each Industry
Member so that a single account may be
tracked across time within a single
Industry Member; (3) to permit the use
3 Unless otherwise specified, capitalized terms
used in this rule filing are defined as set forth in
the Compliance Rule.
4 See Securities Exchange Act Release No. 89397
(July 24, 2020) (Federal Register publication
pending).
PO 00000
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Fmt 4703
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47443
of relationship identifiers as Firm
Designated IDs in certain circumstances;
and (4) to permit the use of entity
identifiers as Firm Designated IDs in
certain circumstances (the ‘‘FDID
Amendment’’). As a result, the
Exchange proposes to amend the
definition of ‘‘Firm Designated ID’’ in
Rule 11.6810 to reflect the changes to
the CAT NMS Plan regarding the
requirements for Firm Designated IDs.
Rule 11.6810(r) defines the term
‘‘Firm Designated ID’’ to mean ‘‘a
unique identifier for each trading
account designated by Industry
Members for purposes of providing data
to the Central Repository, where each
such identifier is unique among all
identifiers from any given Industry
Member for each business date.’’
(1) Prohibit Use of Account Numbers
The Exchange proposes to amend the
definition of ‘‘Firm Designated ID’’ in
Rule 11.6810(r) to provide that Industry
Members may not use account numbers
as the Firm Designated ID for trading
accounts that are not proprietary
accounts. Specifically, the Exchange
proposes to add the following to the
definition of a Firm Designated ID:
‘‘provided, however, such identifier
may not be the account number for such
trading account if the trading account is
not a proprietary account.’’
(2) Persistent Firm Designated ID
The Exchange also proposes to amend
the definition of ‘‘Firm Designated ID’’
in Rule 11.6810(r) to require a Firm
Designated ID assigned by an Industry
Member to a trading account to be
persistent over time, not for each
business day.5 To effect this change, the
Exchange proposes to amend the
definition of ‘‘Firm Designated ID’’ in
Rule 11.6810(r) to add ‘‘and persistent’’
after ‘‘unique’’ and delete ‘‘for each
business date’’ so that the definition of
‘‘Firm Designated ID’’ would read, in
relevant part, as follows:
A unique and persistent identifier for each
trading account designated by Industry
Members for purposes of providing data to
5 If an Industry Member assigns a new account
number or entity identifier to a client or customer
due to a merger, acquisition or some other corporate
action, then the Industry Member should create a
new Firm Designated ID to identify the new account
identifier/relationship identifier/entity identifier in
use at the Industry Member for the entity. In
addition, if a previously assigned Firm Designated
ID is no longer in use by an Industry Member (e.g.,
if the trading account associated with the Firm
Designated ID has been closed), then an Industry
Member may reuse the Firm Designated ID for
another trading account. The Plan Processor will
maintain a history of the use of each Firm
Designated ID, including, for example, the effective
dates of the Firm Designated ID with respect to each
associated trading account.
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]]>Agencies
[Federal Register Volume 85, Number 151 (Wednesday, August 5, 2020)]
[Notices]
[Pages 47442-47443]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17010]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File. No. 270-94, OMB Control No. 3235-0085]
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 17a-11
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-11, Notification
Provisions for Brokers and Dealers (17 CFR 240.17a-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.
In response to an operational crisis in the securities industry
between 1967 and 1970, the Commission adopted Rule 17a-11 (17 CFR
240.17a-11) under the Exchange Act on July 11, 1971. The Rule requires
broker-dealers that are experiencing financial or operational
difficulties to provide notice to the Commission, the broker-dealer's
designated examining authority (``DEA''), and the Commodity Futures
Trading Commission (``CFTC'') if the broker-dealer is registered with
the CFTC as a futures commission merchant. Rule 17a-11 is an integral
part of the Commission's financial responsibility program which enables
the Commission, a broker-dealer's DEA, and the CFTC to increase
surveillance of a broker-dealer experiencing difficulties and to obtain
any additional information necessary to gauge the broker-dealer's
financial or operational condition.
Rule 17a-11 also requires over-the-counter (``OTC'') derivatives
dealers and broker-dealers that are permitted to compute net capital
pursuant to Appendix E to Exchange Act Rule 15c3-1 to notify the
Commission when their tentative net capital drops below certain levels.
To ensure the provision of these types of notices to the
Commission, Rule 17a-11 requires every national securities exchange or
national securities association to notify the Commission when it learns
that a member broker-dealer has failed to send a notice or transmit a
report required under the Rule.
Compliance with the Rule is mandatory. The Commission will
generally not publish or make available to any person notices or
reports received pursuant to Rule 17a-11. The Commission believes that
information obtained under Rule 17a-11 relates to a condition report
prepared for the use of the Commission, other federal governmental
authorities, and securities industry self-regulatory organizations
responsible for the regulation or supervision of financial
institutions.
The Commission expects to receive 343 notices from broker-dealers
whose capital declines below certain specified levels or who are
otherwise experiencing financial or operational problems and eleven
notices each year from national securities exchange or national
securities association notifying it that a member broker-dealer has
failed to send the Commission a notice or transmit a report required
under the Rule. The Commission expects that it will take approximately
one hour to prepare and transmit each notice. Therefore, the Commission
estimates the total annual reporting burden arising from this section
of the rule will be approximately 354 hours.\1\
---------------------------------------------------------------------------
\1\ 343 hours + 11 hours = 354 hours.
---------------------------------------------------------------------------
Rule 17a-11 also requires broker-dealers engaged in securities
lending or repurchase activities to either: (1) File a notice with the
Commission and their DEA whenever the total money payable against all
securities loaned, subject to a reverse repurchase agreement or the
contract value of all securities borrowed or subject to a repurchase
agreement, exceeds 2,500% of tentative net capital; or, alternatively,
(2) report monthly their securities lending and repurchase activities
to their DEA in a form acceptable to their DEA.
The Commission estimates that, annually, six broker-dealers will
submit the monthly stock loan/borrow report. The Commission estimates
each firm will spend, on average, approximately one hour per month (or
twelve hours per year) of employee resources to prepare and send the
report or to prepare the information for the FOCUS report (as required
by the firm's DEA, if applicable). Therefore, the Commission estimates
the total annual reporting burden arising from this section of the rule
will be approximately 72 hours.\2\
---------------------------------------------------------------------------
\2\ 6 broker-dealers x 12 hours per year = 72 hours.
---------------------------------------------------------------------------
Therefore, the total annual reporting burden associated with Rule
17a-11 is approximately 426 hours.\3\
---------------------------------------------------------------------------
\3\ 343 hours + 11 hours + 72 hours = 426 hours.
---------------------------------------------------------------------------
[[Page 47443]]
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.
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: July 30, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-17010 Filed 8-4-20; 8:45 am]
BILLING CODE 8011-01-P
