Proposed Collection; Comment Request; Extension: Rule 17a-13, 51465-51466 [2022-17981]

Download as PDF Federal Register / Vol. 87, No. 161 / Monday, August 22, 2022 / Notices FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Docketed Proceeding(s) jspears on DSK121TN23PROD with NOTICES I. Introduction The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or removal of a negotiated service agreement from the market dominant or the competitive product list, or the modification of an existing product currently appearing on the market dominant or the competitive product list. Section II identifies the docket number(s) associated with each Postal Service request, the title of each Postal Service request, the request’s acceptance date, and the authority cited by the Postal Service for each request. For each request, the Commission appoints an officer of the Commission to represent the interests of the general public in the proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also establishes comment deadline(s) pertaining to each request. The public portions of the Postal Service’s request(s) can be accessed via the Commission’s website (https:// www.prc.gov). Non-public portions of the Postal Service’s request(s), if any, can be accessed through compliance with the requirements of 39 CFR 3011.301.1 The Commission invites comments on whether the Postal Service’s request(s) in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern market dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3030, and 39 CFR part 3040, subpart B. For request(s) that the Postal Service states concern competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3035, and 39 CFR part 3040, subpart B. Comment deadline(s) for each request appear in section II. II. Docketed Proceeding(s) 1. Docket No(s).: CP2020–234; Filing Title: Notice of the United States Postal 1 See Docket No. RM2018–3, Order Adopting Final Rules Relating to Non-Public Information, June 27, 2018, Attachment A at 19–22 (Order No. 4679). VerDate Sep<11>2014 18:17 Aug 19, 2022 Jkt 256001 Service of Filing Modification Two to Global Reseller Expedited Package 2 Negotiated Service Agreement; Filing Acceptance Date: August 16, 2022; Filing Authority: 39 CFR 3035.105; Public Representative: Kenneth R. Moeller; Comments Due: August 24, 2022. This Notice will be published in the Federal Register. Jennie L. Jbara, Alternate Certifying Officer. [FR Doc. 2022–18055 Filed 8–19–22; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–027, OMB Control No. 3235–0035] Proposed Collection; Comment Request; Extension: Rule 17a–13 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. 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 collection of information provided for in Rule 17a–13 (17 CFR 240.17a–13) under the Securities Exchange Act of 1934 (15 U.S.C. 78 et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 17a–13(b) (17 CFR 240.17a– 13(b)) generally requires that at least once each calendar quarter, all registered brokers-dealers physically examine and count all securities held and account for all other securities not in their possession, but subject to the broker-dealer’s control or direction. Any discrepancies between the brokerdealer’s securities count and the firm’s records must be noted and, within seven days, the unaccounted for difference must be recorded in the firm’s records. Rule 17a–13(c) (17 CFR 240.17a–13(c)) provides that under specified conditions, the count, examination, and verification of the broker-dealer’s entire list of securities may be conducted on a cyclical basis rather than on a certain date. Although Rule 17a–13 does not require broker-dealers to file a report with the Commission, discrepancies between a broker-dealer’s records and the securities counts may be required to be reported, for example, as a loss on PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 51465 Form X–17a–5 (17 CFR 248.617), which must be filed with the Commission under Exchange Act Rule 17a–5 (17 CFR 240.17a–5). Rule 17a–13 exempts broker-dealers that limit their business to the sale and redemption of securities of registered investment companies and interests or participation in an insurance company separate account and those who solicit accounts for federally insured savings and loan associations, provided that such persons promptly transmit all funds and securities and hold no customer funds and securities. Rule 17a–13 also does not apply to certain broker-dealers required to register only because they effect transactions in securities futures products. Rule 17a–13 requires the recording of only those differences in the brokerdealer’s records that remain unresolved seven business days after the date of the examination, count, and verification. The Commission or the self-regulatory organization (‘‘SRO’’) designated as the broker-dealer’s examining authority may examine these recorded discrepancies in a broker-dealer’s records to determine whether they are the result of the firm’s inability to maintain control of its business. The information obtained from Rule 17a–13 is used as an inventory control device to monitor a broker-dealer’s ability to account for all securities held in transfer, in transit, pledged, loaned, borrowed, deposited, or otherwise subject to the firm’s control or direction. Discrepancies between the securities counts and the broker-dealer’s records alert the Commission and applicable SROs to those firms experiencing backoffice operational issues. As of August 2022, there were approximately 3,532 active brokerdealers registered with the Commission. However, given the variability in their businesses, it is difficult to quantify how many hours per year each brokerdealer spends complying with Rule 17a–13. As noted, Rule 17a–13 requires a broker-dealer to account for all securities in its possession or subject to its control or direction. Many brokerdealers hold few, if any, securities, while others hold large quantities. Therefore, the time burden of complying with Rule 17a–13 will depend on respondent-specific factors, including size, number of customers, and proprietary trading activity. The staff estimates that the average time spent per respondent is 100 hours per year on an ongoing basis to maintain the records required under Rule 17a–13. This estimate takes into account the fact that more than half of the 3,532 respondents—according to financial E:\FR\FM\22AUN1.SGM 22AUN1 51466 Federal Register / Vol. 87, No. 161 / Monday, August 22, 2022 / Notices jspears on DSK121TN23PROD with NOTICES reports filed with the Commission—may spend little or no time complying with Rule 17a–13, given that they do not do a public securities business or do not hold inventories of securities. For these reasons, the staff estimates that the total recordkeeping burden per year is approximately 353,200 hours (3,532 respondents × 100 hours/respondent) The records required to be made by Rule 17a–13 are available only to Commission examination staff, state securities authorities, and applicable SROs. Subject to the provisions of the Freedom of Information Act, 5 U.S.C. 522, and the Commission’s rules thereunder (17 CFR 200.80(b)(4)(iii)), the Commission does not generally publish or make available information contained in any reports, summaries, analyses, letters, or memoranda arising out of, in anticipation of, or in connection with an examination or inspection of the books and records of any person or any other investigation. 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 by October 21, 2022. 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: August 16, 2022. Jill M. Peterson, Assistant Secretary. [FR Doc. 2022–17981 Filed 8–19–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings [Release No. 34–95504; File No. SR–ICC– 2022–008] 1:00 p.m. on Thursday, August 25, 2022. Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the Stress Testing Framework and the Liquidity Risk Management Framework TIME AND DATE: The meeting will be held via remote means and/or at the Commission’s headquarters, 100 F Street NE, Washington, DC 20549. PLACE: This meeting will be closed to the public. STATUS: MATTERS TO BE CONSIDERED: Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters also may be present. In the event that the time, date, or location of this meeting changes, an announcement of the change, along with the new time, date, and/or place of the meeting will be posted on the Commission’s website at https:// www.sec.gov. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) and (10) and 17 CFR 200.402(a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and (a)(10), permit consideration of the scheduled matters at the closed meeting. The subject matter of the closed meeting will consist of the following topics: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; Resolution of litigation claims; and Other matters relating to examinations and enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting agenda items that may consist of adjudicatory, examination, litigation, or regulatory matters. CONTACT PERSON FOR MORE INFORMATION: For further information; please contact Vanessa A. Countryman from the Office of the Secretary at (202) 551–5400. Authority: 5 U.S.C. 552b. Dated: August 18, 2022. Jill M. Peterson, Assistant Secretary. [FR Doc. 2022–18134 Filed 8–18–22; 11:15 am] BILLING CODE 8011–01–P VerDate Sep<11>2014 18:17 Aug 19, 2022 Jkt 256001 PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 August 16, 2022. I. Introduction On June 23, 2022, ICE Clear Credit LLC (‘‘ICC’’) 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 amend its Stress Testing Framework (‘‘STF’’) and the ICC Liquidity Risk Management Framework (‘‘LRMF’’). The proposed rule change was published for comment in the Federal Register on July 11, 2022.3 The Commission did not receive comments regarding the proposed rule change. For the reasons discussed below, the Commission is approving the proposed rule change. II. Description of the Proposed Rule Change ICC proposes to revise its STF and LRMF to introduce new stress scenarios, clarify existing stress scenarios, and make other minor edits.4 Specifically, the proposed rule change would introduce new stress scenarios related to the Coronavirus pandemic and oil price war (the ‘‘COVID–19/Oil Crisis’’). A. STF The proposed amendments to the STF introduce new stress scenarios related to the COVID–19/Oil Crisis, clarify existing stress scenarios related to credit default index swaptions (‘‘index options’’), and make other minor edits. Specifically, the proposed changes would amend Section 5.1 containing the historically observed extreme but plausible market scenarios with a minor edit to abbreviate a term and to introduce additional stress scenarios 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the Stress Testing Framework and the Liquidity Risk Management Framework; Exchange Act Release No. 95200 (Jul. 5, 2022); 87 FR 41149 (Jul. 11, 2022) (File No. SR–ICC–2022–008) (‘‘Notice’’). 4 The description that follows is substantially excerpted from the Notice. Capitalized terms not otherwise defined herein have the meanings assigned to them in the STS, LRMF or ICC’s Clearing Rules, as applicable. 2 17 E:\FR\FM\22AUN1.SGM 22AUN1

Agencies

[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Notices]
[Pages 51465-51466]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17981]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-027, OMB Control No. 3235-0035]


Proposed Collection; Comment Request; Extension: Rule 17a-13

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    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 
collection of information provided for in Rule 17a-13 (17 CFR 240.17a-
13) under the Securities Exchange Act of 1934 (15 U.S.C. 78 et seq.) 
(``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    Rule 17a-13(b) (17 CFR 240.17a-13(b)) generally requires that at 
least once each calendar quarter, all registered brokers-dealers 
physically examine and count all securities held and account for all 
other securities not in their possession, but subject to the broker-
dealer's control or direction. Any discrepancies between the broker-
dealer's securities count and the firm's records must be noted and, 
within seven days, the unaccounted for difference must be recorded in 
the firm's records. Rule 17a-13(c) (17 CFR 240.17a-13(c)) provides that 
under specified conditions, the count, examination, and verification of 
the broker-dealer's entire list of securities may be conducted on a 
cyclical basis rather than on a certain date. Although Rule 17a-13 does 
not require broker-dealers to file a report with the Commission, 
discrepancies between a broker-dealer's records and the securities 
counts may be required to be reported, for example, as a loss on Form 
X-17a-5 (17 CFR 248.617), which must be filed with the Commission under 
Exchange Act Rule 17a-5 (17 CFR 240.17a-5). Rule 17a-13 exempts broker-
dealers that limit their business to the sale and redemption of 
securities of registered investment companies and interests or 
participation in an insurance company separate account and those who 
solicit accounts for federally insured savings and loan associations, 
provided that such persons promptly transmit all funds and securities 
and hold no customer funds and securities. Rule 17a-13 also does not 
apply to certain broker-dealers required to register only because they 
effect transactions in securities futures products.
    Rule 17a-13 requires the recording of only those differences in the 
broker-dealer's records that remain unresolved seven business days 
after the date of the examination, count, and verification. The 
Commission or the self-regulatory organization (``SRO'') designated as 
the broker-dealer's examining authority may examine these recorded 
discrepancies in a broker-dealer's records to determine whether they 
are the result of the firm's inability to maintain control of its 
business.
    The information obtained from Rule 17a-13 is used as an inventory 
control device to monitor a broker-dealer's ability to account for all 
securities held in transfer, in transit, pledged, loaned, borrowed, 
deposited, or otherwise subject to the firm's control or direction. 
Discrepancies between the securities counts and the broker-dealer's 
records alert the Commission and applicable SROs to those firms 
experiencing back-office operational issues.
    As of August 2022, there were approximately 3,532 active broker-
dealers registered with the Commission. However, given the variability 
in their businesses, it is difficult to quantify how many hours per 
year each broker-dealer spends complying with Rule 17a-13. As noted, 
Rule 17a-13 requires a broker-dealer to account for all securities in 
its possession or subject to its control or direction. Many broker-
dealers hold few, if any, securities, while others hold large 
quantities. Therefore, the time burden of complying with Rule 17a-13 
will depend on respondent-specific factors, including size, number of 
customers, and proprietary trading activity. The staff estimates that 
the average time spent per respondent is 100 hours per year on an 
ongoing basis to maintain the records required under Rule 17a-13. This 
estimate takes into account the fact that more than half of the 3,532 
respondents--according to financial

[[Page 51466]]

reports filed with the Commission--may spend little or no time 
complying with Rule 17a-13, given that they do not do a public 
securities business or do not hold inventories of securities. For these 
reasons, the staff estimates that the total recordkeeping burden per 
year is approximately 353,200 hours (3,532 respondents x 100 hours/
respondent)
    The records required to be made by Rule 17a-13 are available only 
to Commission examination staff, state securities authorities, and 
applicable SROs. Subject to the provisions of the Freedom of 
Information Act, 5 U.S.C. 522, and the Commission's rules thereunder 
(17 CFR 200.80(b)(4)(iii)), the Commission does not generally publish 
or make available information contained in any reports, summaries, 
analyses, letters, or memoranda arising out of, in anticipation of, or 
in connection with an examination or inspection of the books and 
records of any person or any other investigation.
    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 by 
October 21, 2022.
    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: 
[email protected].

    Dated: August 16, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-17981 Filed 8-19-22; 8:45 am]
BILLING CODE 8011-01-P
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