Proposed Collection; Comment Request, 51825 [2020-18401]

Download as PDF Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices available publicly. All submissions should refer to File Number SR–MRX– 2020–15 and should be submitted on or before September 11, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–18344 Filed 8–20–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–325, OMB Control No. 3235–0385] 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 jbell on DSKJLSW7X2PROD with NOTICES Extension: Rule 15g–9 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comment on the collection of information described below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (OMB) for extension and approval. Section 15(c)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Exchange Act’’) authorizes the Commission to promulgate rules that prescribe means reasonably designed to prevent fraudulent, deceptive, or manipulative practices in connection with over-the-counter (‘‘OTC’’) securities transactions. Pursuant to this authority, the Commission in 1989 adopted Rule 15a– 6, which was subsequently redesignated as Rule 15g–9, 17 CFR 240.15g–9 (the ‘‘Rule’’). The Rule requires brokerdealers to produce a written suitability determination for, and to obtain a written customer agreement to, certain recommended transactions in penny stocks that are not registered on a national securities exchange, and whose issuers do not meet certain minimum financial standards. The Rule is intended to prevent the indiscriminate use by broker-dealers of fraudulent, high pressure telephone sales campaigns to sell penny stocks to unsophisticated customers. The Commission staff estimates that there are approximately 182 brokerdealers subject to the Rule. The burden of the Rule on a respondent varies widely depending on the frequency with which new customers are solicited. On the average for all respondents, the staff has estimated that respondents process three new customers per week, or approximately 156 new customer suitability determinations per year. We also estimate that a broker-dealer would expend approximately one-half hour per new customer in obtaining, reviewing, and processing (including transmitting to the customer) the information required by Rule 15g–9, and each respondent would consequently spend 78 hours annually (156 customers × .5 hours) obtaining the information required in the rule. We determined, based on the estimate of 182 brokerdealer respondents, that the current annual burden of Rule 15g–9 is 14,196 hours (182 respondents × 78 hours). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information on respondents; 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: August 18, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–18401 Filed 8–20–20; 8:45 am] 17 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 19:04 Aug 20, 2020 Jkt 250001 PO 00000 Frm 00152 Fmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89583; File No. SR– CboeBZX–2020–063] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Adopt Fees for a New Data Product on its Equity Options Platform To Be Known as Intraday Open-Close Data August 17, 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 August 3, 2020, Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX’’) 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 BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX Options’’) is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to adopt fees for a new data product on its equity options platform (‘‘BZX Options’’) to be known as Intraday Open-Close Data. 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://markets.cboe.com/us/ equities/regulation/rule_filings/bzx/), 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 BILLING CODE 8011–01–P Sfmt 4703 51825 E:\FR\FM\21AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 21AUN1

Agencies

[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Page 51825]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18401]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-325, OMB Control No. 3235-0385]


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 15g-9

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comment on the collection of 
information described below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget (OMB) for extension and approval.
    Section 15(c)(2) of the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) (the ``Exchange Act'') authorizes the Commission to 
promulgate rules that prescribe means reasonably designed to prevent 
fraudulent, deceptive, or manipulative practices in connection with 
over-the-counter (``OTC'') securities transactions. Pursuant to this 
authority, the Commission in 1989 adopted Rule 15a-6, which was 
subsequently redesignated as Rule 15g-9, 17 CFR 240.15g-9 (the 
``Rule''). The Rule requires broker-dealers to produce a written 
suitability determination for, and to obtain a written customer 
agreement to, certain recommended transactions in penny stocks that are 
not registered on a national securities exchange, and whose issuers do 
not meet certain minimum financial standards. The Rule is intended to 
prevent the indiscriminate use by broker-dealers of fraudulent, high 
pressure telephone sales campaigns to sell penny stocks to 
unsophisticated customers.
    The Commission staff estimates that there are approximately 182 
broker-dealers subject to the Rule. The burden of the Rule on a 
respondent varies widely depending on the frequency with which new 
customers are solicited. On the average for all respondents, the staff 
has estimated that respondents process three new customers per week, or 
approximately 156 new customer suitability determinations per year. We 
also estimate that a broker-dealer would expend approximately one-half 
hour per new customer in obtaining, reviewing, and processing 
(including transmitting to the customer) the information required by 
Rule 15g-9, and each respondent would consequently spend 78 hours 
annually (156 customers x .5 hours) obtaining the information required 
in the rule. We determined, based on the estimate of 182 broker-dealer 
respondents, that the current annual burden of Rule 15g-9 is 14,196 
hours (182 respondents x 78 hours).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimates of 
the burden of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information on 
respondents; 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: August 18, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-18401 Filed 8-20-20; 8:45 am]
BILLING CODE 8011-01-P
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