Proposed Collection; Comment Request, 73521-73522 [2020-25355]

Download as PDF Federal Register / Vol. 85, No. 223 / Wednesday, November 18, 2020 / Notices DC 20549; or send an email to: PRA_ Mailbox@sec.gov. Dated: November 12, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–25351 Filed 11–17–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–186, OMB Control No. 3235–0186] 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 khammond on DSKJM1Z7X2PROD with NOTICES Revision: Form N–8B–2 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 (the ‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Form N–8B–2 (17 CFR 274.12) is the form used by unit investment trusts (‘‘UITs’’) other than separate accounts that are currently issuing securities, including UITs that are issuers of periodic payment plan certificates and UITs of which a management investment company is the sponsor or depositor, to comply with the filing and disclosure requirements imposed by section 8(b) of the Investment Company Act of 1940 (15 U.S.C. 80a–8(b)). Form N–8B–2 requires disclosure about the organization of a UIT, its securities, the personnel and affiliated persons of the depositor, the distribution and redemption of securities, the trustee or custodian, and financial statements. The Commission uses the information provided in the collection of information to determine compliance with section 8(b) of the Investment Company Act. Each registrant subject to the Form N–8B–2 filing requirement files Form N–8B–2 for its initial filing and does not file post-effective amendments on Form N–8B–2.1 The Commission staff estimates that approximately one respondent files one Form N–8B–2 1 Post-effective amendments are filed with the Commission on the UIT’s Form S–6. Hence, respondents only file Form N–8B–2 for their initial registration statement and not for post-effective amendments. VerDate Sep<11>2014 17:59 Nov 17, 2020 Jkt 253001 filing annually with the Commission. Based on form amendments to include formatting and hyperlinking requirements to Form N–8B–2 arising from the adoption of the FAST Act release,2 staff estimates that the burden for compliance with Form N–8B–2 is approximately 28 hours per filing.3 The total hourly burden for the Form N–8B– 2 filing requirement therefore is 28 hours in the aggregate (1 respondent × one filing per respondent × 28 hours per filing), at an internal cost burden of $9,912, and external cost burden of $10,300. Estimates of the burden hours are made solely for the purposes of the PRA and are not derived from a comprehensive or even a representative survey or study of the costs of SEC rules and forms. The information provided on Form N–8B–2 is mandatory. The information provided on Form N–8B–2 will not be kept confidential. 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 OMB control number. The public may view the background documentation for this information collection at the following website, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Lindsay.M.Abate@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 send an email to: PRA_ Mailbox@sec.gov. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. 2 FAST Act Modernization and Simplification of Regulation S–K, Securities Act Release No. 10618 (March 20, 2019) [84 FR 12674 (April 2, 2019)]. 3 Staff estimates are also adjusted to reflect new disclosures for UIT ETFs arising from the adoption of the Exchange-Traded Funds release. See Exchange-Traded Funds, Investment Company Act Release No. 33646 (Sept. 25, 2019) [84 FR 57162 (Oct. 24, 2019)]. PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 73521 Dated: November 12, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–25353 Filed 11–17–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 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 12d2–2 and Form 25 [SEC File No. 270–86, OMB Control No. 3235–0080] 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 collections of information provided for in Rule 12d2–2 (17 CFR 240.12d2–2) and Form 25 (17 CFR 249.25) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit these existing collections of information to the Office of Management and Budget for extension and approval for On February 12, 1935, the Commission adopted Rule 12d2–2 1 and Form 25, under the Securities Exchange Act of 1934 (‘‘Act’’), to establish the conditions and procedures under which a security may be delisted from an exchange and withdrawn from registration under Section 12(b) of the Act.2 The Commission adopted amendments to Rule 12d2–2 and Form 25 in 2005.3 Under the amended Rule 12d2–2, all issuers and national securities exchanges seeking to delist and deregister a security in accordance with the rules of an exchange must file the adopted version of Form 25 with the Commission. The Commission also adopted amendments to Rule 19d–1 under the Act to require exchanges to file the adopted version of Form 25 as notice to the Commission under Section 19(d) of the Act. Finally, the Commission adopted amendments to exempt standardized options and security futures products from Section 12(d) of the Act. These amendments are intended to simplify the paperwork and procedure associated with a delisting 1 See Securities Exchange Act Release No. 98 (February 12, 1935). 2 See Securities Exchange Act Release No. 7011 (February 5, 1963), 28 FR 1506 (February 16, 1963). 3 See Securities Exchange Act Release No. 52029 (July 14, 2005), 70 FR 42456 (July 22, 2005). E:\FR\FM\18NON1.SGM 18NON1 73522 Federal Register / Vol. 85, No. 223 / Wednesday, November 18, 2020 / Notices and to unify general rules and procedures relating to the delisting process. Form 25 is useful because it informs the Commission that a security previously traded on an exchange is no longer traded. In addition, Form 25 enables the Commission to verify that the delisting and/or deregistration has occurred in accordance with the rules of the exchange. Further, Form 25 helps to focus the attention of delisting issuers to make sure that they abide by the proper procedural and notice requirements associated with a delisting and/or a deregistration. Without Rule 12d2–2 and Form 25, as applicable, the Commission would be unable to fulfill its statutory responsibilities. There are 24 national securities exchanges that could possibly be respondents complying with the requirements of the Rule and Form 25.4 The burden of complying with Rule 12d2–2 and Form 25 is not evenly distributed among the exchanges, however, since there are many more securities listed on the New York Stock Exchange, the NASDAQ Stock Market, and NYSE American than on the other exchanges. However, for purposes of this filing, the Commission staff has assumed that the number of responses is evenly divided among the exchanges. Since approximately 830 responses under Rule 12d2–2 and Form 25 for the purpose of delisting and/or deregistration of equity securities are received annually by the Commission from the national securities exchanges, the resultant aggregate annual reporting hour burden would be, assuming on average one hour per response, 830 annual burden hours for all exchanges (24 exchanges × an average of 34.6 responses per exchange × 1 hour per response). In addition, since approximately 110 responses are received by the Commission annually from issuers wishing to remove their securities from listing and registration on exchanges, the Commission staff estimates that the aggregate annual reporting hour burden on issuers would be, assuming on average one reporting hour per response, 110 annual burden hours for all issuers (110 issuers × 1 response per issuer × 1 hour per response). Accordingly, the total annual hour burden for all respondents to comply with Rule 12d2–2 is 940 hours (830 hours for exchanges + 110 hours for issuers). The total related internal cost of compliance associated with these burden hours is $201,615 ($166,415 for exchanges plus $35,200 for issuers). 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: November 12, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–25355 Filed 11–17–20; 8:45 am] BILLING CODE 8011–01–P khammond on DSKJM1Z7X2PROD with NOTICES 4 The staff notes that a few of these 24 registered national securities exchanges only have rules to permit the listing of standardized options, which are exempt from Rule 12d2–2 under the Act. Nevertheless, the staff counted national securities exchanges that can only list options as potential respondents because these exchanges could potentially adopt new rules, subject to Commission approval under Section 19(b) of the Act, to list and trade equity and other securities that have to comply with Rule 12d2–2 under the Act. Notice registrants that are registered as national securities exchanges solely for the purposes of trading securities futures products have not been counted since, as noted above, securities futures products are exempt from complying with Rule 12d-2–2 under the Act and therefore do not have to file Form 25. VerDate Sep<11>2014 17:59 Nov 17, 2020 Jkt 253001 PO 00000 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90409; File No. SR– NYSEArca–2020–95] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the Fees for NYSE Arca BBO and NYSE Arca Trades by Modifying the Application of the Access Fee and Amending the Fees for NYSE Arca Trades by Adopting a Waiver Applicable to the Redistribution Fee November 12, 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 November 2, 2020, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) 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 The Exchange proposes to (1) amend the fees for NYSE Arca BBO and NYSE Arca Trades by modifying the application of the Access Fee; and (2) amend the fees for NYSE Arca Trades by adopting a waiver applicable to the Redistribution Fee. The Exchange proposes to implement the proposed fee changes on January 1, 2021. 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 15 2 17 Frm 00068 Fmt 4703 Sfmt 4703 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 85, Number 223 (Wednesday, November 18, 2020)]
[Notices]
[Pages 73521-73522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25355]


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SECURITIES AND EXCHANGE COMMISSION


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 12d2-2 and Form 25 [SEC File No. 270-86, OMB Control No. 
3235-0080]

    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 collections 
of information provided for in Rule 12d2-2 (17 CFR 240.12d2-2) and Form 
25 (17 CFR 249.25) under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.). The Commission plans to submit these existing collections 
of information to the Office of Management and Budget for extension and 
approval for
    On February 12, 1935, the Commission adopted Rule 12d2-2 \1\ and 
Form 25, under the Securities Exchange Act of 1934 (``Act''), to 
establish the conditions and procedures under which a security may be 
delisted from an exchange and withdrawn from registration under Section 
12(b) of the Act.\2\ The Commission adopted amendments to Rule 12d2-2 
and Form 25 in 2005.\3\ Under the amended Rule 12d2-2, all issuers and 
national securities exchanges seeking to delist and deregister a 
security in accordance with the rules of an exchange must file the 
adopted version of Form 25 with the Commission. The Commission also 
adopted amendments to Rule 19d-1 under the Act to require exchanges to 
file the adopted version of Form 25 as notice to the Commission under 
Section 19(d) of the Act. Finally, the Commission adopted amendments to 
exempt standardized options and security futures products from Section 
12(d) of the Act. These amendments are intended to simplify the 
paperwork and procedure associated with a delisting

[[Page 73522]]

and to unify general rules and procedures relating to the delisting 
process.
---------------------------------------------------------------------------

    \1\ See Securities Exchange Act Release No. 98 (February 12, 
1935).
    \2\ See Securities Exchange Act Release No. 7011 (February 5, 
1963), 28 FR 1506 (February 16, 1963).
    \3\ See Securities Exchange Act Release No. 52029 (July 14, 
2005), 70 FR 42456 (July 22, 2005).
---------------------------------------------------------------------------

    Form 25 is useful because it informs the Commission that a security 
previously traded on an exchange is no longer traded. In addition, Form 
25 enables the Commission to verify that the delisting and/or 
deregistration has occurred in accordance with the rules of the 
exchange. Further, Form 25 helps to focus the attention of delisting 
issuers to make sure that they abide by the proper procedural and 
notice requirements associated with a delisting and/or a 
deregistration. Without Rule 12d2-2 and Form 25, as applicable, the 
Commission would be unable to fulfill its statutory responsibilities.
    There are 24 national securities exchanges that could possibly be 
respondents complying with the requirements of the Rule and Form 25.\4\ 
The burden of complying with Rule 12d2-2 and Form 25 is not evenly 
distributed among the exchanges, however, since there are many more 
securities listed on the New York Stock Exchange, the NASDAQ Stock 
Market, and NYSE American than on the other exchanges. However, for 
purposes of this filing, the Commission staff has assumed that the 
number of responses is evenly divided among the exchanges. Since 
approximately 830 responses under Rule 12d2-2 and Form 25 for the 
purpose of delisting and/or deregistration of equity securities are 
received annually by the Commission from the national securities 
exchanges, the resultant aggregate annual reporting hour burden would 
be, assuming on average one hour per response, 830 annual burden hours 
for all exchanges (24 exchanges x an average of 34.6 responses per 
exchange x 1 hour per response). In addition, since approximately 110 
responses are received by the Commission annually from issuers wishing 
to remove their securities from listing and registration on exchanges, 
the Commission staff estimates that the aggregate annual reporting hour 
burden on issuers would be, assuming on average one reporting hour per 
response, 110 annual burden hours for all issuers (110 issuers x 1 
response per issuer x 1 hour per response). Accordingly, the total 
annual hour burden for all respondents to comply with Rule 12d2-2 is 
940 hours (830 hours for exchanges + 110 hours for issuers). The total 
related internal cost of compliance associated with these burden hours 
is $201,615 ($166,415 for exchanges plus $35,200 for issuers).
---------------------------------------------------------------------------

    \4\ The staff notes that a few of these 24 registered national 
securities exchanges only have rules to permit the listing of 
standardized options, which are exempt from Rule 12d2-2 under the 
Act. Nevertheless, the staff counted national securities exchanges 
that can only list options as potential respondents because these 
exchanges could potentially adopt new rules, subject to Commission 
approval under Section 19(b) of the Act, to list and trade equity 
and other securities that have to comply with Rule 12d2-2 under the 
Act. Notice registrants that are registered as national securities 
exchanges solely for the purposes of trading securities futures 
products have not been counted since, as noted above, securities 
futures products are exempt from complying with Rule 12d-2-2 under 
the Act and therefore do not have to file Form 25.
---------------------------------------------------------------------------

    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: November 12, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-25355 Filed 11-17-20; 8:45 am]
BILLING CODE 8011-01-P
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