Submission for OMB Review; Comment Request, 13411-13412 [2021-04656]

Download as PDF Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices resulting in a total internal cost of compliance for these respondents of approximately $83,538 per year (1,326 hours at $63 per hour). The total time burden for all respondents under this rule (both options markets and broker-dealers) is approximately 1,710 hours per year (384 + 1,326), and the total internal cost of compliance is approximately $244,818 per year ($161,280 + $83,538). 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: March 2, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–04657 Filed 3–5–21; 8:45 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–91190A; File No. S7–24– 89] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of the Fiftieth Amendment to the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis; Correction March 3, 2021. Securities and Exchange Commission. ACTION: Notice; correction. AGENCY: The Securities and Exchange Commission published a document in the Federal Register on March 1, 2021, concerning a Notice of Filing and Immediate Effectiveness of the Fiftieth Amendment to the Joint Self-Regulatory Organization Plan. The document header contained a typographical error. FOR FURTHER INFORMATION CONTACT: Mia Zur, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549, (202) 551–3088. SUMMARY: Correction In the Federal Register of March 1, 2021 in FR Doc. 2021–04089, on page 12045, in the heading ‘‘Joint Industry Plan; Notice of Filing and Immediate Effectiveness of the Fiftieth Amendment to the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information to Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis’’ remove ‘‘and Immediate Effectiveness’’ from the heading. J. Matthew DeLesDernier, Assistant Secretary. BILLING CODE 8011–01–P [FR Doc. 2021–04712 Filed 3–5–21; 8:45 am] BILLING CODE 8011–01–P jbell on DSKJLSW7X2PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–361, OMB Control No. 3235–0411] Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, VerDate Sep<11>2014 19:05 Mar 05, 2021 Jkt 253001 PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 13411 100 F Street NE, Washington, DC 20549–2736 Extension: Rule 489 and Form F–N Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘Paperwork Reduction Act’’), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rule 489 (17 CFR 230.489) under the Securities Act of 1933 (15 U.S.C. 77a et seq.) requires foreign banks and foreign insurance companies and holding companies and finance subsidiaries of foreign banks and foreign insurance companies that are exempted from the definition of ‘‘investment company’’ by virtue of rules 3a–1 (17 CFR 270.3a–1), 3a–5 (17 CFR 270.3a–5), and 3a–6 (17 CFR 270.3a–6) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) to file Form F–N (17 CFR 239.43) to appoint an agent for service of process when making a public offering of securities in the United States. The information is collected so that the Commission and private plaintiffs may serve process on foreign entities in actions and administrative proceedings arising out of or based on the offer or sales of securities in the United States by such foreign entities. The Commission received an average of 27 Form F–N filings from 18 unique filers each year for the last three years (2017–2019). The Commission has previously estimated that the total annual burden associated with information collection and Form F–N preparation and submission is one hour per filing. Based on the Commission’s experience with disclosure documents generally, the Commission continues to believe that this estimate is appropriate. Thus the estimated total annual burden for rule 489 and Form F–N is 27 hours.1 Estimates of the average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. Compliance with the collection of information requirements of rule 489 and Form F–N is mandatory to obtain the benefit of the exemption. Responses to the collection of information will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of 1 27 responses per year × 1 hour per response = 27 hours per year. E:\FR\FM\08MRN1.SGM 08MRN1 13412 Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices information 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: March 2, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–04656 Filed 3–5–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–91239; File No. SR– CboeBZX–2021–017] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposal To Permit the Exchange To Look Back Only to July 2020 To Correct Certain Billing Errors Which Were Discovered in October 2020 jbell on DSKJLSW7X2PROD with NOTICES 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 February 18, 2021, 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 and II below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ‘‘non-controversial’’ proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1. Purpose The Exchange recently amended its equities and options fees schedules to adopt a provision relating to billing errors and fee disputes.5 Specifically, the Exchange adopted a provision that provides that all fees and rebates assessed prior to the three full calendar months before the month in which the Exchange becomes aware of a billing error shall be considered final. Particularly, the Exchange will resolve an error by crediting or debiting Members and Non-Members based on the fees or rebates that should have been applied in the three full calendar months preceding the month in which the Exchange became aware of the error, including to all impacted transactions that occurred during those months.6 The 5 See Securities Exchange Act Release No. 90897 (January 11, 2021), 86 FR 4161 (January 15, 2021) (SR–CboeBZX–2020–094). 6 For example, if the Exchange becomes aware of a transaction fee billing error on February 4, 2021, the Exchange will resolve the error by crediting or 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(6). 19:05 Mar 05, 2021 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change March 2, 2021. VerDate Sep<11>2014 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Cboe BZX Exchange, Inc. (‘‘BZX’’ or the ‘‘Exchange’’) is filing with the Securities and Exchange Commission (the ‘‘Commission’’) a proposal to permit the Exchange to look back only to July 2020 to correct certain billing errors which were discovered in October 2020. This rule change does not provide for any modifications to the text of the Exchange’s rules or fees schedule. The text of the proposal 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. Jkt 253001 PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 Exchange will apply the three month look back regardless of whether the error was discovered by the Exchange or by a Member or Non-Member that submitted a fee dispute to the Exchange. The Exchange’s fees schedules also provide that all disputes concerning fees and rebates assessed by the Exchange would have to be submitted to the Exchange in writing and accompanied by supporting documentation. The purpose of this policy is to provide both the Exchange and Members and NonMembers subject to the Exchange’s fee schedule finality and the ability to close their books after a known period of time. The Exchange further notes that several other exchanges have adopted similar provisions in their rules.7 The Exchange proposes to apply the recently adopted billing policy to transactions impacted by billing errors that were discovered in October 2020. Particularly, in October 2020, the Exchange identified a billing error relating to certain fee codes. As a result of the discovery, the Exchange conducted a review of additional fee code configurations, which review was only recently completed. The review resulted in the discovery of additional billing errors relating to Exchange fee codes. These errors, along with the original error discovered in October 2020, resulted in various Members being over-rebated or under-billed, and to a lesser extent over-billed, over the course of several years. In the absence of applying the recently adopted billing policy to transactions impacted by the October 2020 billing errors, the Exchange would be required to credit or debit Members based on the fees or rebates that should have been applied to all impacted transactions, regardless of how far back the transactions occurred (which as noted above, is several years). If the Exchange were permitted to apply the current rule language to the billing errors discovered in October 2020 however, then the Exchange could limit its look back in correcting those errors to only those transactions that occurred debiting Members based on the fees or rebates that should have been applied to any impacted transactions during November, 2020, December 2020 and January 2021. The Exchange notes that because it bills in arrears, the Exchange would be able to correct the error in advance of issuing the February 2021 invoice and therefore, transactions impacted through the date of discovery (in this example, February 4, 2021) and thereafter, would be billed correctly. 7 See e.g., Securities Exchange Act Release No. 87650 (December 3, 2019), 84 FR 67304 (December 9, 2019) (SR–NYSECHX–2019–024); Securities Exchange Act Release No. 84430 (October 16, 2018), 83 FR 53347 (October 22, 2018) (SR–NYSENAT– 2018–23); and Securities Exchange Act Release No. 79060 (October 6, 2016), 81 FR 70716 (October 13, 2016) (SR–ISEGemini–2016–11). E:\FR\FM\08MRN1.SGM 08MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 86, Number 43 (Monday, March 8, 2021)]
[Notices]
[Pages 13411-13412]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04656]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-361, OMB Control No. 3235-0411]


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 489 and Form F-N

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), the 
Securities and Exchange Commission (the ``Commission'') has submitted 
to the Office of Management and Budget (``OMB'') a request for 
extension of the previously approved collection of information 
discussed below.
    Rule 489 (17 CFR 230.489) under the Securities Act of 1933 (15 
U.S.C. 77a et seq.) requires foreign banks and foreign insurance 
companies and holding companies and finance subsidiaries of foreign 
banks and foreign insurance companies that are exempted from the 
definition of ``investment company'' by virtue of rules 3a-1 (17 CFR 
270.3a-1), 3a-5 (17 CFR 270.3a-5), and 3a-6 (17 CFR 270.3a-6) under the 
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) to file Form 
F-N (17 CFR 239.43) to appoint an agent for service of process when 
making a public offering of securities in the United States. The 
information is collected so that the Commission and private plaintiffs 
may serve process on foreign entities in actions and administrative 
proceedings arising out of or based on the offer or sales of securities 
in the United States by such foreign entities.
    The Commission received an average of 27 Form F-N filings from 18 
unique filers each year for the last three years (2017-2019). The 
Commission has previously estimated that the total annual burden 
associated with information collection and Form F-N preparation and 
submission is one hour per filing. Based on the Commission's experience 
with disclosure documents generally, the Commission continues to 
believe that this estimate is appropriate. Thus the estimated total 
annual burden for rule 489 and Form F-N is 27 hours.\1\
---------------------------------------------------------------------------

    \1\ 27 responses per year x 1 hour per response = 27 hours per 
year.
---------------------------------------------------------------------------

    Estimates of the average burden hours are made solely for the 
purposes of the Paperwork Reduction Act and are not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms. Compliance with the collection of 
information requirements of rule 489 and Form F-N is mandatory to 
obtain the benefit of the exemption. Responses to the collection of 
information will not be kept confidential. An agency may not conduct or 
sponsor, and a person is not required to respond to, a collection of

[[Page 13412]]

information 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: March 2, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-04656 Filed 3-5-21; 8:45 am]
BILLING CODE 8011-01-P

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