Submission for OMB Review; Comment Request; Extension: Rules 13n-4(b)(9), (b)(10) and (d), 69354-69355 [2022-25100]

Download as PDF 69354 Federal Register / Vol. 87, No. 222 / Friday, November 18, 2022 / Notices khammond on DSKJM1Z7X2PROD with NOTICES 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 will institute proceedings to determine whether the proposed rule change should be approved or disapproved. submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CboeBYX–2022–026 and should be submitted on or before December 9, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Sherry R. Haywood, Assistant Secretary. 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: [FR Doc. 2022–25089 Filed 11–17–22; 8:45 am] 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– CboeBYX–2022–026 on the subject line. Submission for OMB Review; Comment Request; Extension: Rules 13n–4(b)(9), (b)(10) and (d) 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–CboeBYX–2022–026. This 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 VerDate Sep<11>2014 16:46 Nov 17, 2022 Jkt 259001 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–793, OMB Control No. 3235–0738] 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 13n–4(b)(9), (b)(10) and (d) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rules 13n–4(b)(9), (b)(10) and (d) implement Exchange Act sections 13(n)(5)(G) and (H), which conditionally require security-based swap data repositories (SDRs) registered with the SEC to make security-based swap data available to certain regulators and other authorities. The rules in part would condition this access to data on the regulators and other authorities entering into memoranda of understanding or other arrangements with the Commission to address the confidentiality of the data made available. The rules further would require SDRs to create and maintain records regarding such data access. In addition, certain regulators or other authorities that are not otherwise designated by statute or rule may submit applications to the Commission requesting that they be deemed eligible to access the relevant security-based swap data. Implementation of the statutory data access provisions—including the 10 17 PO 00000 CFR 200.30–3(a)(12). Frm 00117 Fmt 4703 Sfmt 4703 confidentiality condition and the Commission’s authority to designate entities to access such information— will facilitate regulatory oversight of the security-based swap market and its participants, including oversight of systemic and other risks associated with the market. Implementation also will promote compliance with applicable laws and regulations, including but not limited to compliance with the antifraud provisions of the federal securities laws. Commission Staff estimates that the total annual burden associated with Rules 13n–4(b)(9), (b)(10) and (d) is 11,405 hours and $120,000, calculated as follows: Commission staff estimates a total of 50 regulators or other authorities will enter into confidentiality arrangements with the Commission to obtain access to security-based swap data pursuant to these provisions. On average, each of those recipients of data is expected to expend 500 hours in connection with negotiating these MOUs or other arrangements, for a one-time aggregate burden of 25,000 hours, with no associated ongoing burdens. This equates to 8,333 hours per year when annualized over three years. Commission staff estimates that a total of 41 regulators or other authorities (that otherwise are not identified by statute or the rules as being eligible for access) may request that the Commission determine that they be able to access such security-based swap data. On average, each of those entities is expected to expend 40 hours in connection with such requests, for a one-time aggregate burden of 1,640 hours, with no associated ongoing burdens. This equates to 547 hours per year when annualized over three years. Commission staff also estimates that a total of three SDRs may be expected to incur systems-related costs associated with setting up access to security-based swap data for regulators and other authorities. On average, each of those entities is expected to expend 1,300 hours in connection with providing such connectivity (based on each SDR incurring 26 hours per recipient, over 50 total recipients), for a one-time aggregate burden of 3,900 hours, with no associated no ongoing burdens associated with this requirement. This equates to 1,300 hours when annualized over three years. In addition, Commission staff estimates that a total of three SDRs may incur costs associated with notifying the Commission when the SDR receives the first request for security-based swap data from a particular entity. On average, each of those SDRs is expected E:\FR\FM\18NON1.SGM 18NON1 Federal Register / Vol. 87, No. 222 / Friday, November 18, 2022 / Notices to expend 25 hours in connection with this notice requirement (based on each SDR providing 50 notices, at half-hour per notice), for a one-time aggregate burden of 75 hours, with no associated ongoing burdens. This equates to 25 hours per year when annualized over three years. Commission staff estimates that a total of three SDRs may incur costs associated with the requirement that they maintain records of all information related to initial and subsequent requests for data access. On average, compliance with this provision is expected to require 360 hours initially and 280 hours annually per SDR, for a total burden of 1,080 hours initially and 840 hours annually across three SDRs. This equates to 1,200 hours per year when annualized over three years. Commission staff further estimates that those SDRs each will require $40,000 annually in connection with that requirement, for a total cost of $120,000 annually across three SDRs. 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 by December 19, 2022 to (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.’’ Dated: November 14, 2022. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2022–25100 Filed 11–17–22; 8:45 am] BILLING CODE 8011–01–P khammond on DSKJM1Z7X2PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–506, OMB Control No. 3235–0564] Submission for OMB Review; Comment Request; Extension: Rule 17a–6 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, VerDate Sep<11>2014 16:46 Nov 17, 2022 Jkt 259001 100 F Street NE, Washington, DC 20549–2736. 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Section 17(a) of the Investment Company Act of 1940 (the ‘‘Act’’) generally prohibits affiliated persons of a registered investment company (‘‘fund’’) from borrowing money or other property from, or selling or buying securities or other property to or from, the fund or any company that the fund controls. Rule 17a–6 (17 CFR 270.17a– 6) permits a fund, or a company controlled by the fund, and a ‘‘portfolio affiliate’’ of the fund (a company that is an affiliated person of the fund because the fund controls the company, or holds five percent or more of the company’s outstanding voting securities) to engage in principal transactions that would otherwise be prohibited under section 17(a) of the Act under certain conditions. A fund may not rely on the exemption in the rule to enter into a principal transaction with a portfolio affiliate if certain prohibited participants (e.g., directors, officers, employees, or investment advisers of the fund) have a financial interest in a party to the transaction. Rule 17a–6 specifies certain interests that are not ‘‘financial interests,’’ including any interest that the fund’s board of directors (including a majority of the directors who are not interested persons of the fund) finds to be not material. A board making this finding is required to record the basis for the finding in its meeting minutes. This recordkeeping requirement is a collection of information under the Paperwork Reduction Act of 1995 (‘‘PRA’’). The rule is designed to permit transactions between funds and their portfolio affiliates in circumstances in which it is unlikely that the affiliate would be in a position to take advantage of the fund. In determining whether a financial interest is ‘‘material,’’ the board of the fund should consider whether the nature and extent of the interest in the transaction is sufficiently small that a reasonable person would not believe that the interest affected the determination of whether to enter into the transaction or arrangement or the terms of the transaction or arrangement. The information collection requirements in rule 17a–6 are intended to ensure that Commission staff can review, in the PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 69355 course of its compliance and examination functions, the basis for a board of director’s finding that the financial interest of an otherwise prohibited participant in a party to a transaction with a portfolio affiliate is not material. Based on public filings made with the Commission, we estimate that annually 335 funds and their series (collectively, ‘‘funds’’) may rely on rule 17a–6 to engage in otherwise prohibited transactions under section 17(a) of the 1940 Act. This estimate is based on publicly available Form N–CEN filings. Solely for the purposes of this PRA extension, we assume that each of these funds has engaged in one transaction per reporting period that resulted in a paperwork burden pursuant to rule 17a– 6. We estimate that compliance with the recordkeeping requirement for rule 17a– 6 will impose a burden of .2 hours (12 minutes) for each transaction for which there is a paperwork burden. Therefore, we estimate 67 burden hours to be associated with rule 17a–6 recordkeeping requirements annually, with an associated internal cost of $5,762. The estimate of burden hours and burden costs is made solely for the purposes of the PRA. The estimate is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. Complying with this collection of information requirement is necessary to obtain the benefit of relying on rule 17a–6. 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. 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 December 19, 2022 to (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. Dated: November 14, 2022. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2022–25101 Filed 11–17–22; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\18NON1.SGM 18NON1

Agencies

[Federal Register Volume 87, Number 222 (Friday, November 18, 2022)]
[Notices]
[Pages 69354-69355]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25100]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-793, OMB Control No. 3235-0738]


Submission for OMB Review; Comment Request; Extension: Rules 13n-
4(b)(9), (b)(10) and (d)

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 
13n-4(b)(9), (b)(10) and (d) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rules 13n-4(b)(9), (b)(10) and (d) implement Exchange Act sections 
13(n)(5)(G) and (H), which conditionally require security-based swap 
data repositories (SDRs) registered with the SEC to make security-based 
swap data available to certain regulators and other authorities. The 
rules in part would condition this access to data on the regulators and 
other authorities entering into memoranda of understanding or other 
arrangements with the Commission to address the confidentiality of the 
data made available. The rules further would require SDRs to create and 
maintain records regarding such data access. In addition, certain 
regulators or other authorities that are not otherwise designated by 
statute or rule may submit applications to the Commission requesting 
that they be deemed eligible to access the relevant security-based swap 
data.
    Implementation of the statutory data access provisions--including 
the confidentiality condition and the Commission's authority to 
designate entities to access such information--will facilitate 
regulatory oversight of the security-based swap market and its 
participants, including oversight of systemic and other risks 
associated with the market. Implementation also will promote compliance 
with applicable laws and regulations, including but not limited to 
compliance with the antifraud provisions of the federal securities 
laws.
    Commission Staff estimates that the total annual burden associated 
with Rules 13n-4(b)(9), (b)(10) and (d) is 11,405 hours and $120,000, 
calculated as follows:
    Commission staff estimates a total of 50 regulators or other 
authorities will enter into confidentiality arrangements with the 
Commission to obtain access to security-based swap data pursuant to 
these provisions. On average, each of those recipients of data is 
expected to expend 500 hours in connection with negotiating these MOUs 
or other arrangements, for a one-time aggregate burden of 25,000 hours, 
with no associated ongoing burdens. This equates to 8,333 hours per 
year when annualized over three years.
    Commission staff estimates that a total of 41 regulators or other 
authorities (that otherwise are not identified by statute or the rules 
as being eligible for access) may request that the Commission determine 
that they be able to access such security-based swap data. On average, 
each of those entities is expected to expend 40 hours in connection 
with such requests, for a one-time aggregate burden of 1,640 hours, 
with no associated ongoing burdens. This equates to 547 hours per year 
when annualized over three years.
    Commission staff also estimates that a total of three SDRs may be 
expected to incur systems-related costs associated with setting up 
access to security-based swap data for regulators and other 
authorities. On average, each of those entities is expected to expend 
1,300 hours in connection with providing such connectivity (based on 
each SDR incurring 26 hours per recipient, over 50 total recipients), 
for a one-time aggregate burden of 3,900 hours, with no associated no 
ongoing burdens associated with this requirement. This equates to 1,300 
hours when annualized over three years.
    In addition, Commission staff estimates that a total of three SDRs 
may incur costs associated with notifying the Commission when the SDR 
receives the first request for security-based swap data from a 
particular entity. On average, each of those SDRs is expected

[[Page 69355]]

to expend 25 hours in connection with this notice requirement (based on 
each SDR providing 50 notices, at half-hour per notice), for a one-time 
aggregate burden of 75 hours, with no associated ongoing burdens. This 
equates to 25 hours per year when annualized over three years.
    Commission staff estimates that a total of three SDRs may incur 
costs associated with the requirement that they maintain records of all 
information related to initial and subsequent requests for data access. 
On average, compliance with this provision is expected to require 360 
hours initially and 280 hours annually per SDR, for a total burden of 
1,080 hours initially and 840 hours annually across three SDRs. This 
equates to 1,200 hours per year when annualized over three years. 
Commission staff further estimates that those SDRs each will require 
$40,000 annually in connection with that requirement, for a total cost 
of $120,000 annually across three SDRs.
    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 by December 19, 2022 to (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].''

    Dated: November 14, 2022.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-25100 Filed 11-17-22; 8:45 am]
BILLING CODE 8011-01-P
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