Submission for OMB Review; Comment Request, 71364 [2020-24838]
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Federal Register / Vol. 85, No. 217 / Monday, November 9, 2020 / Notices
by Amendment No. 1, is consistent with
the Exchange Act.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,48 that the
proposed rule change (SR–CBOE–2020–
014), as modified by Amendment No.1,
be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.49
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–24784 Filed 11–6–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–325, OMB Control No.
3235–0385]
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: U.S. Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
khammond on DSKJM1Z7X2PROD 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’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information discussed below.
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
48 15
49 17
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
16:35 Nov 06, 2020
Jkt 253001
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).
The broker-dealer must keep the
written suitability determination and
customer agreement required by the
Rule for at least three years. Completing
the suitability determination and
obtaining the customer agreement in
writing is mandatory for broker-dealers
who effect transactions in penny stocks
and do not qualify for an exemption, but
does not involve the collection of
confidential information.
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) MBX.OMB.OIRA.SEC_desk_
officer@omb.eop.gov 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.
PO 00000
Frm 00062
Fmt 4703
Sfmt 4703
Dated: November 4, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–24838 Filed 11–6–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90330; File No. SR–NYSE–
2020–73]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Designation of a Longer Period for
Commission Action on a Proposed
Rule Change To Amend the
Exchange’s Co-Location Services To
Establish Procedures for the
Allocation of Cabinets to Its CoLocated Users
November 3, 2020.
On September 2, 2020, New York
Stock Exchange LLC (‘‘NYSE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change to
establish procedures as part of the
Exchange’s co-location rules to allocate
cabinets to its co-located users in
situations where the Exchange cannot
satisfy the user demand for cabinets.
The proposed rule change was
published for comment in the Federal
Register on September 21, 2020.3 The
Commission received no comments on
the proposed rule change.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is November 5,
2020. The Commission is extending this
45-day time period.
The Commission finds it appropriate
to designate a longer period within
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 89879
(September 15, 2020), 85 FR 59361 (SR–NYSE–
2020–73).
4 15 U.S.C. 78s(b)(2).
2 17
E:\FR\FM\09NON1.SGM
09NON1
]]>Agencies
[Federal Register Volume 85, Number 217 (Monday, November 9, 2020)]
[Notices]
[Page 71364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-24838]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-325, OMB Control No. 3235-0385]
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: U.S. 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'') has submitted to the Office of Management
and Budget (``OMB'') a request for extension of the previously approved
collection of information discussed below.
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).
The broker-dealer must keep the written suitability determination
and customer agreement required by the Rule for at least three years.
Completing the suitability determination and obtaining the customer
agreement in writing is mandatory for broker-dealers who effect
transactions in penny stocks and do not qualify for an exemption, but
does not involve the collection of confidential information.
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) [email protected] 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: November 4, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-24838 Filed 11-6-20; 8:45 am]
BILLING CODE 8011-01-P
