Submission for OMB Review; Comment Request, 52178-52179 [2020-18498]

Download as PDF 52178 Federal Register / Vol. 85, No. 164 / Monday, August 24, 2020 / Notices them consistent with Exchange Act Rule 17Ad–22(e)(16).18 Moreover, and as noted above, provisions in Exchange Act Rules 17Ad–22(e)(7) and (9) also promote the use of central bank services by a covered clearing agency to conduct money settlements,19 satisfy requirements regarding custody of qualifying liquid resources 20 and enhance management of liquidity risk.21 Accordingly, providing OCC with clear authority to use its Federal Reserve Bank Account to custody Specified Cash Margin Assets that are non-customer margin assets and cash Clearing Fund contributions at the same time is generally consistent with these provisions. The proposed rule change is not inconsistent with the existing rules of OCC, including any other rules proposed to be amended. (B) Clearing Agency’s Statement on Burden on Competition jbell on DSKJLSW7X2PROD with NOTICES Section 17A(b)(3)(I) of the Exchange Act 22 requires that the rules of a clearing agency not impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Exchange Act. OCC does not believe that the proposed rule change would impact or impose any burden on competition. The proposed rule change is designed to facilitate OCC’s ability to appropriately safeguard Specified Cash Margin Assets that are non-customer margin assets and cash Clearing Fund contributions using OCC’s Federal Reserve Bank Account. The proposed rule change would apply equally to all Clearing Members in that all Specified Cash Margin Assets that are non-customer margin assets and cash Clearing Fund contributions of Clearing Members would be eligible to be maintained in OCC’s Federal Reserve Bank Account. Therefore, the proposal does not favor or disfavor any Clearing Member or group of Clearing Members compared to others. For the foregoing reasons, OCC believes that the proposed rule change is in the public interest, would be consistent with the requirements of the Exchange Act applicable to clearing agencies, and would not impact or impose a burden on competition. 18 17 CFR 240.17Ad–22(e)(16). CFR 240.17Ad–22(e)(9). 20 17 CFR 240.17Ad–22(a)(14)(i), (e)(7)(ii). 21 17 CFR 240.17Ad–22(e)(7)(iii). 22 15 U.S.C. 78q–1(b)(3)(I). 19 17 VerDate Sep<11>2014 17:40 Aug 21, 2020 Jkt 250001 (C) Clearing Agency’s Statement on Comments on the Proposed Rule Change Received from Members, Participants or Others Written comments on the proposed rule change were not and are not intended to be solicited with respect to the proposed rule change and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self- regulatory organization consents, the Commission will: (A) by order approve or disapprove the proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Exchange Act. Comments may be submitted by any of the following methods: Electronic Comments • 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– OCC–2020–010 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–OCC–2020–010. 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 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 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 such filing also will be available for inspection and copying at the principal office of OCC and on OCC’s website at https://www.theocc.com/about/ publications/bylaws.jsp. 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–OCC–2020–010 and should be submitted on or before September 14, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–18461 Filed 8–21–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–203, OMB Control No. 3235–0195] 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 17Ab2–1, Form CA–1. 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 17Ab2–1 (17 CFR 240.17Ab2–1) and Form CA–1: Registration of Clearing Agencies (17 CFR 249b.200) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et seq.). Rule 17Ab2–1 and Form CA–1 require clearing agencies to register with the 23 17 E:\FR\FM\24AUN1.SGM CFR 200.30–3(a)(12). 24AUN1 jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 85, No. 164 / Monday, August 24, 2020 / Notices Commission and to meet certain requirements with regard to, among other things, the clearing agency’s organization, capacities, and rules. The information is collected from the clearing agency upon the initial application for registration on Form CA–1. Thereafter, information is collected by amendment to the initial Form CA–1 when changes in circumstances that render certain information on Form CA–1 inaccurate, misleading, or incomplete necessitate modification of the information previously provided to the Commission. The Commission uses the information disclosed on Form CA–1 to (i) determine whether an applicant meets the standards for registration set forth in Section 17A of the Exchange Act, (ii) enforce compliance with the Exchange Act’s registration requirement, and (iii) provide information about specific registered clearing agencies for compliance and investigatory purposes. Without Rule 17Ab2–1, the Commission could not perform these duties as statutorily required. The Commission staff estimates that the average Form CA–1 requires approximately 340 hours to complete and submit for approval, and that on average, the Commission receives one application each year. The Commission staff estimates that completion of an initial Form CA–1 will result in an internal cost of compliance of approximately $132,140 per year. The Commission staff estimates that it receives one amendment per year, and that an amendment requires approximately 60 hours of the exempt or registered clearing agency’s staff time. The Commission staff estimates that amendment of a filed Form CA–1 will result in an internal cost of compliance of approximately $25,480 per year. Therefore, the aggregate hour burden is approximately 400 hours per year (340 + 60) and the aggregate internal cost of compliance is approximately $157,620 per year ($132,140 + $25,480). The external costs associated with work on Form CA–1 include fees charged by outside lawyers and accountants to assist the applicant or registrant to collect and prepare the information sought by the form (though such consultations are not required by the Commission). The Commission staff estimates that these external costs are more likely when novel questions arise under a new application, rather than under periodic review and amendment. The staff estimates an annual external cost of 45 hours of an Attorney’s time (estimated at $420 per hour) and 10 hours of a Senior Accountant’s time (estimated at $219 per hour) for VerDate Sep<11>2014 16:31 Aug 21, 2020 Jkt 250001 preparation of the Form CA–1, resulting in an aggregate external cost of approximately $21,090 per year (18,900 + 2,190). 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. 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: August 19, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–18498 Filed 8–21–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89607; File No. SR– NYSEArca–2020–75] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Equities Fees and Charges August 18, 2020. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on August 12, 2020, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 52179 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE Arca Equities Fees and Charges (‘‘Fee Schedule’’) to (1) adopt a step up tier for ETP Holders adding liquidity in Non-Displayed Limit Orders in Tapes A, B and C securities with a per share price at or above $1.00; (2) adopt a step up tier for ETP Holders adding liquidity in Round Lots and Odd Lots in Tapes A, B and C securities with a per share price below $1.00; and (3) amend the base rate for adding and removing liquidity in Round Lots and Odd Lots in Tapes A, B and C securities with a per share price below $1.00. 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the Fee Schedule to (1) adopt a step up tier for ETP Holders 4 adding liquidity in Non-Displayed Limit Orders 5 in Tapes A, B and C securities with a per share price at or above $1.00; (2) adopt a step up tier for ETP Holders adding liquidity in Round Lots and Odd Lots in Tapes A, B and C securities with a per share price below $1.00; and (3) amend the base rate for adding and removing liquidity in Round Lots and Odd Lots in Tapes A, B and C securities with a per share price below $1.00. The proposed changes respond to the current competitive environment where 4 All references to ETP Holders in connection with this proposed fee change include Market Makers. 5 A Non-Displayed Limit Order is a limit order that is not displayed and does not route. See NYSE Arca Rule 7.31–E(d)(2). E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 85, Number 164 (Monday, August 24, 2020)]
[Notices]
[Pages 52178-52179]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18498]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-203, OMB Control No. 3235-0195]


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 17Ab2-1, Form CA-1.

    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 
17Ab2-1 (17 CFR 240.17Ab2-1) and Form CA-1: Registration of Clearing 
Agencies (17 CFR 249b.200) under the Securities Exchange Act of 1934 
(``Exchange Act'') (15 U.S.C. 78a et seq.).
    Rule 17Ab2-1 and Form CA-1 require clearing agencies to register 
with the

[[Page 52179]]

Commission and to meet certain requirements with regard to, among other 
things, the clearing agency's organization, capacities, and rules. The 
information is collected from the clearing agency upon the initial 
application for registration on Form CA-1. Thereafter, information is 
collected by amendment to the initial Form CA-1 when changes in 
circumstances that render certain information on Form CA-1 inaccurate, 
misleading, or incomplete necessitate modification of the information 
previously provided to the Commission.
    The Commission uses the information disclosed on Form CA-1 to (i) 
determine whether an applicant meets the standards for registration set 
forth in Section 17A of the Exchange Act, (ii) enforce compliance with 
the Exchange Act's registration requirement, and (iii) provide 
information about specific registered clearing agencies for compliance 
and investigatory purposes. Without Rule 17Ab2-1, the Commission could 
not perform these duties as statutorily required.
    The Commission staff estimates that the average Form CA-1 requires 
approximately 340 hours to complete and submit for approval, and that 
on average, the Commission receives one application each year. The 
Commission staff estimates that completion of an initial Form CA-1 will 
result in an internal cost of compliance of approximately $132,140 per 
year. The Commission staff estimates that it receives one amendment per 
year, and that an amendment requires approximately 60 hours of the 
exempt or registered clearing agency's staff time. The Commission staff 
estimates that amendment of a filed Form CA-1 will result in an 
internal cost of compliance of approximately $25,480 per year. 
Therefore, the aggregate hour burden is approximately 400 hours per 
year (340 + 60) and the aggregate internal cost of compliance is 
approximately $157,620 per year ($132,140 + $25,480).
    The external costs associated with work on Form CA-1 include fees 
charged by outside lawyers and accountants to assist the applicant or 
registrant to collect and prepare the information sought by the form 
(though such consultations are not required by the Commission). The 
Commission staff estimates that these external costs are more likely 
when novel questions arise under a new application, rather than under 
periodic review and amendment. The staff estimates an annual external 
cost of 45 hours of an Attorney's time (estimated at $420 per hour) and 
10 hours of a Senior Accountant's time (estimated at $219 per hour) for 
preparation of the Form CA-1, resulting in an aggregate external cost 
of approximately $21,090 per year (18,900 + 2,190).
    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. 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: August 19, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-18498 Filed 8-21-20; 8:45 am]
BILLING CODE 8011-01-P
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