Submission for OMB Review; Comment Request; Extension: Rule 611, 44180-44181 [2023-14515]

Download as PDF 44180 Federal Register / Vol. 88, No. 131 / Tuesday, July 11, 2023 / Notices interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest because the proposal does not raise any new or novel issues.32 Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.33 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) 34 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: ddrumheller on DSK120RN23PROD with NOTICES1 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– NYSEARCA–2023–46 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–NYSEARCA–2023–46. 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 32 See supra, notes 7 and 10. purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 34 15 U.S.C. 78s(b)(2)(B). 33 For VerDate Sep<11>2014 17:25 Jul 10, 2023 Jkt 259001 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 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR–NYSEARCA–2023–46 and should be submitted on or before August 1, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.35 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–14525 Filed 7–10–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–540, OMB Control No. 3235–0600] Submission for OMB Review; Comment Request; Extension: Rule 611 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 Rule 611 (17 CFR 242.611) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). On June 9, 2005, effective August 29, 2005 (see 70 FR 37496, June 29, 2005), PO 00000 35 17 CFR 200.30–3(a)(12). Frm 00080 Fmt 4703 Sfmt 4703 the Commission adopted Rule 611 of Regulation NMS under the Exchange Act to require any national securities exchange, national securities association, alternative trading system, exchange market maker, over-thecounter market maker, and any other broker-dealer that executes orders internally by trading as principal or crossing orders as agent, to establish, maintain, and enforce written policies and procedures reasonably designed to prevent the execution of a transaction in its market at a price that is inferior to a bid or offer displayed in another market at the time of execution (a ‘‘trade-though’’), absent an applicable exception and, if relying on an exception, that are reasonably designed to assure compliance with the terms of the exception. Without this collection of information, respondents would not have a means to enforce compliance with the Commission’s intention to prevent trade-throughs pursuant to the rule. There are approximately 235 respondents 1 per year that will require an aggregate total of approximately 14,100 hours per year to comply with this Rule. It is anticipated that each respondent will continue to expend approximately 60 hours annually: two hours per month of internal legal time and three hours per month of internal compliance time to ensure that its written policies and procedures are upto-date and remain in compliance with Rule 611. The estimated cost for an inhouse attorney is $489 per hour and the estimated cost for an assistant compliance director in the securities industry is $432 per hour. Therefore the estimated total internal cost of compliance for the annual hour burden is as follows: [(2 legal hours × 12 months × $489) × 235] + [(3 compliance hours × 12 months × $432) × 235] = $6,412,680.2 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. 1 This estimate includes 16 national securities exchanges that are equity securities exchanges. The estimate also includes an estimated 187 firms that are over-the-counter market makers or exchange market makers, as well as an estimated 32 alternative trading systems that trade NMS stocks. 2 The total cost of compliance for the annual hour burden has been revised to reflect updated estimated cost figures for an in-house attorney and an assistant compliance director. These figures are from SIFMA’s Management & Professional Earnings in the Securities Industry 2017, modified by Commission staff for an 1800-hour work-year and multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead, and then adjusted for inflation. E:\FR\FM\11JYN1.SGM 11JYN1 Federal Register / Vol. 88, No. 131 / Tuesday, July 11, 2023 / Notices 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 August 10, 2023 to (i) www.reginfo.gov/ public/do/PRAMain 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: July 5, 2023. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–14515 Filed 7–10–23; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #17986 and #17987; OKLAHOMA Disaster Number OK–00170] Administrative Declaration of a Disaster for the State of Oklahoma U.S. Small Business Administration. ACTION: Notice. AGENCY: This is a notice of an Administrative declaration of a disaster for the State of Oklahoma dated 07/03/ 2023. Incident: Severe Storms, Straight-line Winds, Tornadoes and Flooding. Incident Period: 06/14/2023 through 06/18/2023. DATES: Issued on 07/03/2023. Physical Loan Application Deadline Date: 09/01/2023. Economic Injury (EIDL) Loan Application Deadline Date: 04/03/2024. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Recovery & Resilience, U.S. Small Business Administration, 409 3rd Street SW, Suite 6050, Washington, DC 20416, (202) 205–6734. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator’s disaster declaration, applications for disaster loans may be filed at the address listed above or other locally announced locations. ddrumheller on DSK120RN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 17:25 Jul 10, 2023 Jkt 259001 The following areas have been determined to be adversely affected by the disaster: Primary Counties: Comanche, Tulsa Contiguous Counties: Oklahoma: Caddo, Cotton, Creek, Grady, Kiowa, Okmulgee, Osage, Pawnee, Rogers, Stephens, Tillman, Wagoner, Washington. The Interest Rates are: Percent For Physical Damage: Homeowners with Credit Available Elsewhere ...................... Homeowners without Credit Available Elsewhere .............. Businesses with Credit Available Elsewhere ...................... Businesses without Credit Available Elsewhere .............. Non-Profit Organizations with Credit Available Elsewhere ... Non-Profit Organizations without Credit Available Elsewhere ..................................... For Economic Injury: Businesses & Small Agricultural Cooperatives without Credit Available Elsewhere .............. Non-Profit Organizations without Credit Available Elsewhere ..................................... 5.000 2.500 8.000 4.000 2.375 2.375 4.000 2.375 The number assigned to this disaster for physical damage is 17986 C and for economic injury is 17987 0. The State which received an EIDL Declaration # is Oklahoma. (Catalog of Federal Domestic Assistance Number 59008) Isabella Guzman, Administrator. [FR Doc. 2023–14592 Filed 7–10–23; 8:45 am] BILLING CODE 8026–09–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #17983; ILLINOIS Disaster Number IL–00080 Declaration of Economic Injury] Administrative Declaration of an Economic Injury Disaster for the State of Illinois U.S. Small Business Administration. ACTION: Notice. AGENCY: PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Recovery & Resilience, U.S. Small Business Administration, 409 3rd Street, SW, Suite 6050, Washington, DC 20416, (202) 205–6734. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator’s EIDL declaration, applications for economic injury disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Boone, DuPage, Lee, Sangamon. Contiguous Counties: Illinois: Bureau, Cass, Christian, Cook, Dekalb, Kane, Kendall, La Salle, Logan, Macon, Macoupin, McHenry, Menard, Montgomery, Morgan, Ogle, Whiteside, Will, Winnebago. Wisconsin: Rock, Walworth. The Interest Rates are: ADDRESSES: Percent Businesses and Small Agricultural Cooperatives without Credit Available Elsewhere .................. Non-Profit Organizations without Credit Available Elsewhere ....... 4.000 2.375 The number assigned to this disaster for economic injury is 179830. The States which received an EIDL Declaration #17983 are Illinois, Wisconsin. (Catalog of Federal Domestic Assistance Number 59008) Isabella Guzman, Administrator. [FR Doc. 2023–14595 Filed 7–10–23; 8:45 am] BILLING CODE 8026–09–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #17984 and #17985; TEXAS Disaster Number TX–00659] This is a notice of an Economic Injury Disaster Loan (EIDL) declaration for the State of Illinois dated 07/03/2023. Incident: Severe Storms. Incident Period: 03/31/2023. DATES: Issued on 07/03/2023. Economic Injury (EIDL) Loan Application Deadline Date: 04/03/2024. SUMMARY: 44181 Administrative Declaration of a Disaster for the State of Texas U.S. Small Business Administration. ACTION: Notice. AGENCY: This is a notice of an Administrative declaration of a disaster for the State of TEXAS dated 07/03/ 2023. SUMMARY: E:\FR\FM\11JYN1.SGM 11JYN1

Agencies

[Federal Register Volume 88, Number 131 (Tuesday, July 11, 2023)]
[Notices]
[Pages 44180-44181]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-14515]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-540, OMB Control No. 3235-0600]


Submission for OMB Review; Comment Request; Extension: Rule 611

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 Rule 611 
(17 CFR 242.611) under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) (``Exchange Act'').
    On June 9, 2005, effective August 29, 2005 (see 70 FR 37496, June 
29, 2005), the Commission adopted Rule 611 of Regulation NMS under the 
Exchange Act to require any national securities exchange, national 
securities association, alternative trading system, exchange market 
maker, over-the-counter market maker, and any other broker-dealer that 
executes orders internally by trading as principal or crossing orders 
as agent, to establish, maintain, and enforce written policies and 
procedures reasonably designed to prevent the execution of a 
transaction in its market at a price that is inferior to a bid or offer 
displayed in another market at the time of execution (a ``trade-
though''), absent an applicable exception and, if relying on an 
exception, that are reasonably designed to assure compliance with the 
terms of the exception. Without this collection of information, 
respondents would not have a means to enforce compliance with the 
Commission's intention to prevent trade-throughs pursuant to the rule.
    There are approximately 235 respondents \1\ per year that will 
require an aggregate total of approximately 14,100 hours per year to 
comply with this Rule. It is anticipated that each respondent will 
continue to expend approximately 60 hours annually: two hours per month 
of internal legal time and three hours per month of internal compliance 
time to ensure that its written policies and procedures are up-to-date 
and remain in compliance with Rule 611. The estimated cost for an in-
house attorney is $489 per hour and the estimated cost for an assistant 
compliance director in the securities industry is $432 per hour. 
Therefore the estimated total internal cost of compliance for the 
annual hour burden is as follows: [(2 legal hours x 12 months x $489) x 
235] + [(3 compliance hours x 12 months x $432) x 235] = $6,412,680.\2\
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    \1\ This estimate includes 16 national securities exchanges that 
are equity securities exchanges. The estimate also includes an 
estimated 187 firms that are over-the-counter market makers or 
exchange market makers, as well as an estimated 32 alternative 
trading systems that trade NMS stocks.
    \2\ The total cost of compliance for the annual hour burden has 
been revised to reflect updated estimated cost figures for an in-
house attorney and an assistant compliance director. These figures 
are from SIFMA's Management & Professional Earnings in the 
Securities Industry 2017, modified by Commission staff for an 1800-
hour work-year and multiplied by 5.35 to account for bonuses, firm 
size, employee benefits, and overhead, and then adjusted for 
inflation.
---------------------------------------------------------------------------

    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.

[[Page 44181]]

    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 August 10, 2023 to (i) www.reginfo.gov/public/do/PRAMain 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: July 5, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-14515 Filed 7-10-23; 8:45 am]
BILLING CODE 8011-01-P
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