Proposed Collection; Comment Request; Extension: Rule 22d-1, 14206-14207 [2023-04629]

Download as PDF 14206 Federal Register / Vol. 88, No. 44 / Tuesday, March 7, 2023 / Notices III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 26 and Rule 19b– 4(f)(6) 27 thereunder. Because the foregoing proposed rule change does not: (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 28 and Rule 19b– 4(f)(6) 29 thereunder. A proposed rule change filed under Rule 19b–4(f)(6) 30 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b–4(f)(6)(iii),31 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the Exchange can launch the proposed Cboe One Options Feed on March 1, 2023, which is the date the original filing (SR–CboeBZX– 2023–004) would have been operative. The Commission notes that Nasdaq in its comment letter believed that ‘‘the Cboe One Feed Proposal should clearly explain the obligations of the OPRA Plan by specifically noting that any person who subscribes to the Cboe One Feed must have equivalent access to OPRA and remove the misleading language identified’’ by Nasdaq.32 Nasdaq further requested that marketing materials for the Cboe One Options Feed clearly indicate this requirement to ensure compliance with the OPRA Plan.33 The Commission believes that the Exchange has addressed the concerns raised by Nasdaq by removing the language Nasdaq found misleading 26 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 28 15 U.S.C. 78s(b)(3)(A). 29 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange’s intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 30 17 CFR 240.19b–4(f)(6). 31 17 CFR 240.19b–4(f)(6)(iii). 32 See Letter from Greg Ferrari, Vice President, U.S. Options, Nasdaq, supra note 3, at 2. Nasdaq submitted a comment letter to CBOE–2023–009, which was the companion filing to CboeBZX–2023– 004, adopting the Cboe One Options Feed. 33 Id. at 2–3. ddrumheller on DSK120RN23PROD with NOTICES1 27 17 VerDate Sep<11>2014 19:49 Mar 06, 2023 Jkt 259001 and clarifying the obligations under the OPRA Plan. Specifically, the Exchange has represented that any person, including broker-dealers, who subscribe to the Cboe One Options Feed must also have equivalent access to consolidated Options Information from OPRA for the same classes or series of options that are included in the proprietary data feed, and proprietary data feeds cannot be used to meet that particular requirement.34 The Commission notes that no other substantive changes from the Exchange’s original filing are being made with this filing. Therefore, the Commission believes that waving the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission designates the proposed rule change to be operative on March 1, 2023.35 At any time within 60 days of the filing of the 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 will institute proceedings 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– CboeBZX–2023–014 on the subject line. 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–CboeBZX–2023–014. 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 submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CboeBZX–2023–014 and should be submitted on or before March 28, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.36 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–04571 Filed 3–6–23; 8:45 am] BILLING CODE 8011–01–P 34 See supra notes 20–21 and accompanying text. As discussed above, the Exchange has also represented that the requirement under the OPRA Plan is included in the Cboe Global Markets Global Data Agreement and Cboe Global Markets North American Data Policies, which subscribers to any exchange proprietary product must sign and are subject to, respectively. Additionally, the Exchange has represented that its Data Order Form (used for requesting the Exchange’s market data products) requires confirmation that the requesting market participant receives data from OPRA. See supra note 20. 35 For purposes only of waiving the 30-day operative delay, the Commission also has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–275, OMB Control No. 3235–0310] Proposed Collection; Comment Request; Extension: Rule 22d–1 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 36 17 E:\FR\FM\07MRN1.SGM CFR 200.30–3(a)(12), (59). 07MRN1 ddrumheller on DSK120RN23PROD with NOTICES1 Federal Register / Vol. 88, No. 44 / Tuesday, March 7, 2023 / Notices 100 F Street NE, Washington, DC 20549–2736 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (‘‘Paperwork Reduction Act’’) (44 U.S.C. 3501–3520), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Rule 22d–1 under the Investment Company Act of 1940 (the ‘‘1940 Act’’) (17 CFR 270.22d–1) provides registered investment companies that issue redeemable securities (‘‘funds’’) an exemption from section 22(d) of the 1940 Act (15 U.S.C. 80a–22(d)) to the extent necessary to permit scheduled variations in or elimination of the sales load on fund securities for particular classes of investors or transactions, provided certain conditions are met. The rule imposes an annual burden per series of a fund of approximately 15 minutes, so that the total annual burden for the approximately 3,776 series of funds that might rely on the rule is estimated to be 944 hours.1 The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act. The estimate is based on communications with industry representatives, and is not derived from a comprehensive or even a representative survey or study. Responses will not be kept confidential. 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 OMB control number. 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 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 by May 8, 2023. An agency may not conduct or sponsor, and a person is not required to 1 This estimate is based on the following calculation: 3,776 series × 0.25 burden hours = 944 total annual burden hours. VerDate Sep<11>2014 19:49 Mar 06, 2023 Jkt 259001 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, Acting 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: March 2, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–04629 Filed 3–6–23; 8:45 am] 14207 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 BILLING CODE 8011–01–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–97011; File No. SR–CBOE– 2023–012] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a New Data Product Called the Cboe One Options Feed March 1, 2023. 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 February 27, 2023, Cboe Exchange, Inc. (‘‘Exchange’’ or ‘‘Cboe Options’’) 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 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 Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) proposes to adopt a new data product called the Cboe One Options Feed. The text of the proposed rule change is also available on the Exchange’s website (https://www.cboe.com/ AboutCBOE/CBOELegalRegulatory Home.aspx), at the Exchange’s Office of the Secretary, 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 Exchange included statements 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00094 Fmt 4703 Sfmt 4703 The Exchange proposes to establish a new market data product called the Cboe One Options Feed.3 As described more fully below, the Cboe One Options Feed is a data feed that that will offer top of book quotations and execution information based on options orders entered into the Exchange System and its affiliated options exchanges, Cboe C2 Exchange, Inc. (‘‘C2’’), Cboe BZX Exchange, Inc. (‘‘BZX Options’’) and Cboe EDGX Exchange, Inc. (‘‘EDGX Options’’) (collectively, the ‘‘Affiliates’’ and collectively with the Exchange, the ‘‘Cboe Options Exchanges’’) and for which the Cboe Options Exchanges report quotes under the OPRA Plan.4 Currently, the Exchange offers Cboe Options Top Data feed, which is an uncompressed data feed that offers topof-book quotations and last sale information based on options orders entered into the Exchange’s System. The Cboe Options Top Data feed benefits investors by facilitating their prompt access to real-time top-of-book information contained in Cboe Options Top Data. The Exchange notes that Cboe Options Top Data is ideal for market participants requiring both quote and trade data. The Exchange’s Affiliates 3 The Exchange previously submitted the proposed rule change on January 30, 2023 (SR– CBOE–2023–009). See Securities Exchange Act Release No. 96885 (February 10, 2023), 88 FR 10165, (February 16, 2023) (SR–CBOE–2023–009). The Exchange is withdrawing SR–CBOE–2023–009 and submitting this filing to make clarifying, nonsubstantive changes to more clearly reflect the obligations under the OPRA Plan, which the Exchange believes will avoid potential confusion, as well as address the comments raised by another exchange group in a comment letter received on February 23, 2023. See Letter from Greg Ferrari, Vice President, U.S. Options, Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq GEMX, LLC, and Nasdaq MRX, LLC markets (collectively ‘‘Nasdaq’’), to Vanessa Countryman, Secretary Commission, dated February 23, 2023. 4 The Exchange understands that each of the Cboe Options Exchanges will separately file substantially similar proposed rule changes to implement Cboe One Options Feed and its related fees. E:\FR\FM\07MRN1.SGM 07MRN1

Agencies

[Federal Register Volume 88, Number 44 (Tuesday, March 7, 2023)]
[Notices]
[Pages 14206-14207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04629]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-275, OMB Control No. 3235-0310]


Proposed Collection; Comment Request; Extension: Rule 22d-1

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services,

[[Page 14207]]

100 F Street NE, Washington, DC 20549-2736

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``Paperwork Reduction Act'') (44 U.S.C. 3501-3520), the 
Securities and Exchange Commission (the ``Commission'') is soliciting 
comments on the collections of information summarized below. The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget for extension and approval.
    Rule 22d-1 under the Investment Company Act of 1940 (the ``1940 
Act'') (17 CFR 270.22d-1) provides registered investment companies that 
issue redeemable securities (``funds'') an exemption from section 22(d) 
of the 1940 Act (15 U.S.C. 80a-22(d)) to the extent necessary to permit 
scheduled variations in or elimination of the sales load on fund 
securities for particular classes of investors or transactions, 
provided certain conditions are met. The rule imposes an annual burden 
per series of a fund of approximately 15 minutes, so that the total 
annual burden for the approximately 3,776 series of funds that might 
rely on the rule is estimated to be 944 hours.\1\
---------------------------------------------------------------------------

    \1\ This estimate is based on the following calculation: 3,776 
series x 0.25 burden hours = 944 total annual burden hours.
---------------------------------------------------------------------------

    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act. The estimate is based on 
communications with industry representatives, and is not derived from a 
comprehensive or even a representative survey or study. Responses will 
not be kept confidential. 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 OMB control number.
    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 
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 by May 8, 2023.
    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, Acting 
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: March 2, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-04629 Filed 3-6-23; 8:45 am]
BILLING CODE 8011-01-P
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