Proposed Collection; Comment Request, 64569-64570 [2021-25172]

Download as PDF Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices (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 John Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: November 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–25173 Filed 11–17–21; 8:45 am] BILLING CODE 8011–01–P [Release Nos. 33–11007; 34–93573; File No. 265–28] Investor Advisory Committee Meeting The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, is providing notice that it will hold a public meeting. The public is invited to submit written statements to the Committee. DATES: The meeting will be held on Thursday, December 2, 2021 from 10:00 a.m. until 4:00 p.m. (ET). Written statements should be received on or before December 1, 2021. ADDRESSES: The meeting will be conducted by remote means and/or at the Commission’s headquarters, 100 F St NE, Washington, DC 20549. The meeting will be webcast on the Commission’s website at www.sec.gov. Written statements may be submitted by any of the following methods: khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: Electronic Statements D Use the Commission’s internet submission form (https://www.sec.gov/ rules/other.shtml); or D Send an email message to rulescomments@sec.gov. Please include File No. 265–28 on the subject line; or Jkt 256001 Marc Oorloff Sharma, Chief Counsel, Office of the Investor Advocate, at (202) 551–3302, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The meeting will be open to the public, except during that portion of the meeting reserved for an administrative work session during lunch. Persons needing special accommodations to take part because of a disability should notify the contact person listed in the section above entitled FOR FURTHER INFORMATION CONTACT. The agenda for the meeting includes: opening remarks, announcement of new officers, and announcement regarding a disclosure subcommittee; welcome remarks; approval of previous meeting minutes; a panel discussion regarding crypto and digital assets: helping to ensure investor protection and market integrity in the face of new technologies; a panel discussion regarding the SEC’s potential role in addressing elder financial abuse issues; a discussion of a recommendation regarding individual retirement accounts; subcommittee reports; and a non-public administrative session. SUPPLEMENTARY INFORMATION: Securities and Exchange Commission. ACTION: Notice of meeting. AGENCY: 17:11 Nov 17, 2021 D Send paper statements to Vanessa A. Countryman, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File No. 265–28. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. Statements also will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Room 1503, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All statements 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. FOR FURTHER INFORMATION CONTACT: SECURITIES AND EXCHANGE COMMISSION VerDate Sep<11>2014 Paper Statements Dated: November 15, 2021. Vanessa A. Countryman, Secretary. [FR Doc. 2021–25188 Filed 11–17–21; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 64569 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–603, OMB Control No. 3235–0658] 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 22e–3 Notice is hereby given that, under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501–3520), 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. Section 22(e) of the Investment Company Act [15 U.S.C. 80a–22(e)] (‘‘Act’’) generally prohibits funds, including money market funds, from suspending the right of redemption, and from postponing the payment or satisfaction upon redemption of any redeemable security for more than seven days. The provision was designed to prevent funds and their investment advisers from interfering with the redemption rights of shareholders for improper purposes, such as the preservation of management fees. Although section 22(e) permits funds to postpone the date of payment or satisfaction upon redemption for up to seven days, it does not permit funds to suspend the right of redemption for any amount of time, absent certain specified circumstances or a Commission order. Rule 22e–3 under the Act [17 CFR 270.22e–3] exempts money market funds from section 22(e) to permit them to suspend redemptions in order to facilitate an orderly liquidation of the fund. Specifically, rule 22e–3 permits a money market fund to suspend redemptions and postpone the payment of proceeds pending board-approved liquidation proceedings if: (i) The fund’s board of directors, including a majority of disinterested directors, determines pursuant to § 270.2a–7(c)(8)(ii)(C) that the extent of the deviation between the fund’s amortized cost price per share and its current net asset value per share calculated using available market quotations (or an appropriate substitute that reflects current market conditions) may result in material dilution or other unfair results to investors or existing shareholders; (ii) the fund’s board of directors, including a majority of E:\FR\FM\18NON1.SGM 18NON1 64570 Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices disinterested directors, irrevocably approves the liquidation of the fund; and (iii) the fund, prior to suspending redemptions, notifies the Commission of its decision to liquidate and suspend redemptions. Rule 22e–3 also provides an exemption from section 22(e) for registered investment companies that own shares of a money market fund pursuant to section 12(d)(1)(E) of the Act (‘‘conduit funds’’), if the underlying money market fund has suspended redemptions pursuant to the rule. A conduit fund that suspends redemptions in reliance on the exemption provided by rule 22e–3 is required to provide prompt notice of the suspension of redemptions to the Commission. Notices required by the rule must be provided by electronic mail, directed to the attention of the Director of the Division of Investment Management or the Director’s designee.1 Compliance with the notification requirement is mandatory for money market funds and conduit funds that rely on rule 22e–3 to suspend redemptions and postpone payment of proceeds pending a liquidation, and are not kept confidential. Commission staff estimates that, on average, one fund would be required to make the required notice every year.2 Commission staff further estimates that a money market fund or conduit fund would spend approximately one hour of an in-house attorney’s time to prepare and submit the notice required by the rule. Given these estimates, the total annual burden of the notification requirement of rule 22e–3 for all money market funds and conduit funds would be approximately one hour at a cost of $425.3 The Commission staff estimates that there is no cost burden associated with the information collection requirement of rule 22e–3 other than this cost. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is 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 the rule is necessary to obtain the benefit of relying on the rule. An agency may not conduct or sponsor, and a person is not required khammond on DSKJM1Z7X2PROD with NOTICES 1 See rule 22e–3(a)(3). Commission has not received any notices invoking rule 22e–3 to halt redemptions. However, for administrative purposes, we are reporting one respondent and one annual response. 3 This figure for an Attorney is from SIFMA’s Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for an 1800-hour work-year and inflation, and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. 2 The VerDate Sep<11>2014 17:11 Nov 17, 2021 Jkt 256001 to respond to, a collection of information unless it displays a currently valid control number. Written comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’s estimate of the burden of the 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 after this publication. Please direct your written comments to David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, C/O John R. Pezzullo, 100 F Street NE, Washington, DC 20549; or send an email to: PRA_ Mailbox@sec.gov. Dated: November 15, 2021. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–25172 Filed 11–17–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–93564; File No. SR– NYSEArca–2021–97] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fees and Charges and the NYSE Arca Equities Fees and Charges Regarding Colocation Services November 12, 2021. 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 November 3, 2021, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 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 amend the NYSE Arca Options Fees and Charges and the NYSE Arca Equities Fees and Charges (together, the ‘‘Fee Schedules’’) regarding colocation services and fees to provide Users with wireless connectivity to CME Group market data. 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the Fee Schedules regarding colocation services and fees to provide Users 4 with wireless connectivity to CME Group market data.5 The Exchange currently provides Users with wireless connections to eight 4 For purposes of the Exchange’s co-location services, a ‘‘User’’ means any market participant that requests to receive co-location services directly from the Exchange. Securities Exchange Act Release No. 76010 (September 29, 2015), 80 FR 60197 (October 5, 2015) (SR–NYSEArca–2015–82). As specified in the Fee Schedules, a User that incurs co-location fees for a particular co-location service pursuant thereto would not be subject to co-location fees for the same co-location service charged by the Exchange’s affiliates New York Stock Exchange LLC, NYSE American LLC, NYSE Chicago, Inc., and NYSE National, Inc. (together, the ‘‘Affiliate SROs’’). Each Affiliate SRO has submitted substantially the same proposed rule change to propose the changes described herein. See SR– NYSE–2021–67, SR–NYSEAMER–2021–43, SR– NYSECHX–2021–17, and SR–NYSENAT–2021–23. 5 The Exchange initially filed rule changes relating to its co-location services with the Securities and Exchange Commission (‘‘Commission’’) in 2010. See Securities Exchange Act Release No. 63275 (November 8, 2010), 75 FR 70048 (November 16, 2010) (SR–NYSEArca–2010– 100). E:\FR\FM\18NON1.SGM 18NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 86, Number 220 (Thursday, November 18, 2021)]
[Notices]
[Pages 64569-64570]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25172]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-603, OMB Control No. 3235-0658]


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 22e-3

    Notice is hereby given that, under the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501-3520), 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.
    Section 22(e) of the Investment Company Act [15 U.S.C. 80a-22(e)] 
(``Act'') generally prohibits funds, including money market funds, from 
suspending the right of redemption, and from postponing the payment or 
satisfaction upon redemption of any redeemable security for more than 
seven days. The provision was designed to prevent funds and their 
investment advisers from interfering with the redemption rights of 
shareholders for improper purposes, such as the preservation of 
management fees. Although section 22(e) permits funds to postpone the 
date of payment or satisfaction upon redemption for up to seven days, 
it does not permit funds to suspend the right of redemption for any 
amount of time, absent certain specified circumstances or a Commission 
order.
    Rule 22e-3 under the Act [17 CFR 270.22e-3] exempts money market 
funds from section 22(e) to permit them to suspend redemptions in order 
to facilitate an orderly liquidation of the fund. Specifically, rule 
22e-3 permits a money market fund to suspend redemptions and postpone 
the payment of proceeds pending board-approved liquidation proceedings 
if: (i) The fund's board of directors, including a majority of 
disinterested directors, determines pursuant to Sec.  270.2a-
7(c)(8)(ii)(C) that the extent of the deviation between the fund's 
amortized cost price per share and its current net asset value per 
share calculated using available market quotations (or an appropriate 
substitute that reflects current market conditions) may result in 
material dilution or other unfair results to investors or existing 
shareholders; (ii) the fund's board of directors, including a majority 
of

[[Page 64570]]

disinterested directors, irrevocably approves the liquidation of the 
fund; and (iii) the fund, prior to suspending redemptions, notifies the 
Commission of its decision to liquidate and suspend redemptions. Rule 
22e-3 also provides an exemption from section 22(e) for registered 
investment companies that own shares of a money market fund pursuant to 
section 12(d)(1)(E) of the Act (``conduit funds''), if the underlying 
money market fund has suspended redemptions pursuant to the rule. A 
conduit fund that suspends redemptions in reliance on the exemption 
provided by rule 22e-3 is required to provide prompt notice of the 
suspension of redemptions to the Commission. Notices required by the 
rule must be provided by electronic mail, directed to the attention of 
the Director of the Division of Investment Management or the Director's 
designee.\1\ Compliance with the notification requirement is mandatory 
for money market funds and conduit funds that rely on rule 22e-3 to 
suspend redemptions and postpone payment of proceeds pending a 
liquidation, and are not kept confidential.
---------------------------------------------------------------------------

    \1\ See rule 22e-3(a)(3).
---------------------------------------------------------------------------

    Commission staff estimates that, on average, one fund would be 
required to make the required notice every year.\2\ Commission staff 
further estimates that a money market fund or conduit fund would spend 
approximately one hour of an in-house attorney's time to prepare and 
submit the notice required by the rule. Given these estimates, the 
total annual burden of the notification requirement of rule 22e-3 for 
all money market funds and conduit funds would be approximately one 
hour at a cost of $425.\3\ The Commission staff estimates that there is 
no cost burden associated with the information collection requirement 
of rule 22e-3 other than this cost. The estimate of average burden 
hours is made solely for the purposes of the Paperwork Reduction Act, 
and is not derived from a comprehensive or even a representative survey 
or study of the costs of Commission rules and forms.
---------------------------------------------------------------------------

    \2\ The Commission has not received any notices invoking rule 
22e-3 to halt redemptions. However, for administrative purposes, we 
are reporting one respondent and one annual response.
    \3\ This figure for an Attorney is from SIFMA's Management & 
Professional Earnings in the Securities Industry 2013, modified by 
Commission staff to account for an 1800-hour work-year and 
inflation, and multiplied by 5.35 to account for bonuses, firm size, 
employee benefits and overhead.
---------------------------------------------------------------------------

    Compliance with the collection of information requirements of the 
rule is necessary to obtain the benefit of relying on the rule. 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 control number.
    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission's estimate of the burden of 
the 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 after this 
publication.
    Please direct your written comments to David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O John R. 
Pezzullo, 100 F Street NE, Washington, DC 20549; or send an email to: 
[email protected].

    Dated: November 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-25172 Filed 11-17-21; 8:45 am]
BILLING CODE 8011-01-P

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