Submission for OMB Review; Comment Request: Extension; Rules 17h-1T and 17h-2T, 56109-56110 [2022-19673]

Download as PDF Federal Register / Vol. 87, No. 176 / Tuesday, September 13, 2022 / Notices into, and from the Mahwah Data Center in one place, alleviating any possible market participant confusion. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 12 and Rule 19b–4(f)(3) 13 thereunder in that the proposed rule change is concerned solely with the administration of the Exchange. At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) 14 of the Act to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSECHX–2022–20 on the subject line. jspears on DSK121TN23PROD with NOTICES Paper Comments • Send paper comments in triplicate to: Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSECHX–2022–20. This 12 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(3). 14 15 U.S.C. 78s(b)(2)(B). file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments 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. All submissions should refer to File Number SR–NYSECHX–2022–20 and should be submitted on or before October 4, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–19686 Filed 9–12–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–359, OMB Control No. 3235–0410] Submission for OMB Review; Comment Request: Extension; Rules 17h–1T and 17h–2T 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 13 17 VerDate Sep<11>2014 17:30 Sep 12, 2022 15 17 Jkt 256001 PO 00000 CFR 200.30–3(a)(12). Frm 00122 Fmt 4703 Sfmt 4703 56109 (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in Rules 17h–1T and 17h–2T (17 CFR 240.17h–1T and 17 CFR 240.17h–2T), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17h–1T requires a covered broker-dealer to maintain and preserve records and other information concerning certain entities that are associated with the broker-dealer. This requirement extends to the financial and securities activities of the holding company, affiliates and subsidiaries of the broker-dealer that are reasonably likely to have a material impact on the financial or operational condition of the broker-dealer. Rule 17h–2T requires a covered broker-dealer to file with the Commission quarterly reports and a cumulative year-end report concerning the information required to be maintained and preserved under Rule 17h–1T. The collection of information required by Rules 17h–1T and 17h–2T, collectively referred to as the ‘‘risk assessment rules,’’ is necessary to enable the Commission to monitor the activities of a broker-dealer affiliate whose business activities are reasonably likely to have a material impact on the financial or operational condition of the broker-dealer. Without this information, the Commission would be unable to assess the potentially damaging impact of the affiliate’s activities on the brokerdealer. There are currently 235 respondents that must comply with Rules 17h–1T and 17h–2T. Each of these 235 respondents are estimated to require 10 hours per year to maintain the records required under Rule 17h–1T, for an aggregate estimated annual burden of 2,350 hours (235 respondents × 10 hours). In addition, each of these 235 respondents must make five annual responses under Rule 17h–2T. These five responses are estimated to require 14 hours per respondent per year for an aggregate estimated annual burden of 3,290 hours (235 respondents × 14 hours). In addition, new respondents must draft an organizational chart required under Rule 17h–1T and establish a system for complying with the risk assessment rules. The staff estimates that drafting the required organizational chart requires one hour and establishing a system for complying with the risk assessment rules requires three hours. Based on the reduction in the number of filers in recent years, the staff estimates there will be zero new E:\FR\FM\13SEN1.SGM 13SEN1 56110 Federal Register / Vol. 87, No. 176 / Tuesday, September 13, 2022 / Notices respondents, and thus, a corresponding estimated burden of zero hours for new respondents. Thus, the total compliance burden per year is approximately 5,640 burden hours (2,350 hours + 3,290 hours). The retention period for the recordkeeping requirement for the information, reports and records required under Rule 17h–1T is not less than three years. There is no specific retention period or recordkeeping requirement for Rule 17h–2T. The collection of information is mandatory. All information obtained by the Commission pursuant to the provisions of Rules 17h–1T and 17h–2T from a broker or dealer concerning a material associated person is deemed confidential information for the purposes of section 24(b) of the Exchange Act. 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 by October 13, 2022. (i) MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/ o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: September 7, 2022. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–19673 Filed 9–12–22; 8:45 am] jspears on DSK121TN23PROD with NOTICES BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–95683; File No. SR–ICEEU– 2022–010] Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing of Proposed Rule Change Relating to Amendments to the ICE Clear Europe Clearing Membership Procedures September 7, 2022. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 30, 2022, ICE Clear Europe Limited (‘‘ICE Clear Europe’’ or the ‘‘Clearing House’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule changes described in Items I, II, and III below, which Items have been prepared primarily by ICE Clear Europe. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Clearing Agency’s Statement of the Terms of Substance of the Proposed Rule Change The principal purpose of the proposed amendments is for ICE Clear Europe to modify its Clearing Membership Procedures (‘‘Clearing Membership Procedures’’ or ‘‘Procedures’’) to make certain clarifications and updates. II. Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ICE Clear Europe 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. ICE Clear Europe has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements. (A) Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change (a) Purpose ICE Clear Europe is proposing to amend its Clearing Membership Procedures to make certain clarifications and enhancements to remove certain provisions that are duplicative of the Clearing House’s Counterparty Credit Risk Policy and 1 15 2 17 VerDate Sep<11>2014 17:30 Sep 12, 2022 Jkt 256001 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00123 Fmt 4703 Sfmt 4703 Counterparty Credit Risk Procedures,3 to more clearly document certain practices and to make certain nonsubstantive changes to improve clarity and readability. The section describing the purpose of the Procedures would add a defined term referencing the Clearing House’s Clearing Rules. Conforming changes would be made to each reference to the ‘‘Clearing Rules’’ appearing in the remainder of the Procedures. The section describing the application process would update the names of certain departments responsible for reviewing Clearing Membership applications as follows: such applications (i) would be reviewed by the Credit and Clearing Risk department (this change does not represent a change in departments, rather, it is an inclusion of the relevant department names rather than stating ‘‘Risk’’ generally) and (ii) are subject to the approval of the Executive Risk Committee (rather than simply the ‘‘Committee’’), which would also be known as ‘‘the Committee or ‘‘ERC’’ in shorthand in the Procedures. Conforming changes would be made in the remainder of the Procedures. A paragraph which provided that the Clearing Risk Department would conduct a credit review which may include a credit check and assessments based on the Clearing House’s Counterparty Ratings System would be removed as the credit review is covered by the Counterparty Credit Risk Policy and Procedures. The proposed amendments would provide that the list of Approved Jurisdiction for applicants (those jurisdictions for which additional legal and regulatory analysis is not required) would be maintained by the legal department, rather than in the Clearing Membership Parameters. This change reflects current practice as the list of Approved Jurisdictions is currently maintained by the legal department. Further, in order to consolidate information and because the legal department is placed to provide guidance on Approved Jurisdictions, the Clearing Membership Procedures would reflect that such list would be maintained by the legal department only. The subsection discussing termination of Clearing Membership by ICE Clear Europe would be updated to remove a sentence which provided that the Board is required to approve the issuance of a Termination Notice against 3 The Counterparty Credit Risk Policy and Procedures are described in Exchange Act Release No. 34–93880, SR ICEEU–2021–15 (Dec. 30, 2021) 87 FR 513 (Jan. 5, 2022). E:\FR\FM\13SEN1.SGM 13SEN1

Agencies

[Federal Register Volume 87, Number 176 (Tuesday, September 13, 2022)]
[Notices]
[Pages 56109-56110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19673]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-359, OMB Control No. 3235-0410]


Submission for OMB Review; Comment Request: Extension; Rules 17h-
1T and 17h-2T

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'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rules 
17h-1T and 17h-2T (17 CFR 240.17h-1T and 17 CFR 240.17h-2T), under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17h-1T requires a covered broker-dealer to maintain and 
preserve records and other information concerning certain entities that 
are associated with the broker-dealer. This requirement extends to the 
financial and securities activities of the holding company, affiliates 
and subsidiaries of the broker-dealer that are reasonably likely to 
have a material impact on the financial or operational condition of the 
broker-dealer. Rule 17h-2T requires a covered broker-dealer to file 
with the Commission quarterly reports and a cumulative year-end report 
concerning the information required to be maintained and preserved 
under Rule 17h-1T.
    The collection of information required by Rules 17h-1T and 17h-2T, 
collectively referred to as the ``risk assessment rules,'' is necessary 
to enable the Commission to monitor the activities of a broker-dealer 
affiliate whose business activities are reasonably likely to have a 
material impact on the financial or operational condition of the 
broker-dealer. Without this information, the Commission would be unable 
to assess the potentially damaging impact of the affiliate's activities 
on the broker-dealer.
    There are currently 235 respondents that must comply with Rules 
17h-1T and 17h-2T. Each of these 235 respondents are estimated to 
require 10 hours per year to maintain the records required under Rule 
17h-1T, for an aggregate estimated annual burden of 2,350 hours (235 
respondents x 10 hours). In addition, each of these 235 respondents 
must make five annual responses under Rule 17h-2T. These five responses 
are estimated to require 14 hours per respondent per year for an 
aggregate estimated annual burden of 3,290 hours (235 respondents x 14 
hours).
    In addition, new respondents must draft an organizational chart 
required under Rule 17h-1T and establish a system for complying with 
the risk assessment rules. The staff estimates that drafting the 
required organizational chart requires one hour and establishing a 
system for complying with the risk assessment rules requires three 
hours. Based on the reduction in the number of filers in recent years, 
the staff estimates there will be zero new

[[Page 56110]]

respondents, and thus, a corresponding estimated burden of zero hours 
for new respondents. Thus, the total compliance burden per year is 
approximately 5,640 burden hours (2,350 hours + 3,290 hours).
    The retention period for the recordkeeping requirement for the 
information, reports and records required under Rule 17h-1T is not less 
than three years. There is no specific retention period or 
recordkeeping requirement for Rule 17h-2T. The collection of 
information is mandatory. All information obtained by the Commission 
pursuant to the provisions of Rules 17h-1T and 17h-2T from a broker or 
dealer concerning a material associated person is deemed confidential 
information for the purposes of section 24(b) of the Exchange Act.
    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 
by October 13, 2022. (i) [email protected] and 
(ii) David Bottom, Director/Chief Information Officer, Securities and 
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 
20549, or by sending an email to: [email protected]. Comments must be 
submitted to OMB within 30 days of this notice.

    Dated: September 7, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-19673 Filed 9-12-22; 8:45 am]
BILLING CODE 8011-01-P
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