Submission for OMB Review; Comment Request; Extension: Rule 30e-1, 49515-49516 [2023-16100]

Download as PDF Federal Register / Vol. 88, No. 145 / Monday, July 31, 2023 / Notices the public interest. Because the proposed rule change does not raise any novel regulatory issues, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal operative upon filing.16 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: 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–CboeEDGA–2023–012 and should be submitted on or before August 21, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2023–16113 Filed 7–28–23; 8:45 am] BILLING CODE 8011–01–P 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– CboeEDGA–2023–012 on the subject line. ddrumheller on DSK120RN23PROD with NOTICES1 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–CboeEDGA–2023–012. 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 16 For 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). VerDate Sep<11>2014 18:11 Jul 28, 2023 Jkt 259001 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–21, OMB Control No. 3235–0025] Submission for OMB Review; Comment Request; Extension: Rule 30e–1 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, under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘Paperwork Reduction Act’’), 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. Rule 30e–1 (17 CFR 270.30e–1) under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) generally requires a registered investment company (‘‘fund’’) to transmit to its shareholders, at least semi-annually, reports containing the information that is required to be PO 00000 17 17 CFR 200.30–3(a)(12), (a)(59). Frm 00082 Fmt 4703 Sfmt 4703 49515 included in such reports by the fund’s registration statement form under the Investment Company Act. The purpose of the collection of information required by rule 30e–1 is to provide fund shareholders with current information about the operation of their funds in accordance with Section 30 of the Investment Company Act. Approximately 2,490 funds, with a total of approximately 10,750 portfolios, respond to rule 30e–1 annually. Based on conversations with fund representatives, we estimate that it takes approximately 84 hours to comply with the collection of information associated with rule 30e–1 per portfolio. This time is spent, for example, preparing, reviewing, and certifying the reports. Accordingly, we calculate the total estimated annual internal burden of responding to rule 30e–1 to be approximately 903,000 hours (84 hours × 10,750 portfolios). In addition to the burden hours, based on conversations with fund representatives, we estimate that the total cost burden of compliance with the information collection requirements of rule 30e–1 is approximately $31,061 per portfolio. This includes, for example, the costs for funds to prepare, print, and mail the reports. Accordingly, we calculate the total external cost burden associated with rule 30e–1 to be approximately $333,905,750. Estimates of the average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even representative survey or study of the costs of Commission rules and forms. The collection of information under rule 30e–1 is mandatory. The information provided under rule 30e–1 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. 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 August 30, 2023 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. E:\FR\FM\31JYN1.SGM 31JYN1 49516 Federal Register / Vol. 88, No. 145 / Monday, July 31, 2023 / Notices Dated: July 25, 2023. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2023–16100 Filed 7–28–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–97987; File No. SRCboeEDGX–2023–046] Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rules To Provide Users With a Risk Setting They May Elect To Apply to their Orders That Will Allow Them To Reject Market Orders During Continuous Trading and/or Auctions July 25, 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 July 14, 2023, Cboe EDGX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) 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. ddrumheller on DSK120RN23PROD with NOTICES1 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Cboe EDGX Exchange, Inc. (‘‘EDGX’’ or the ‘‘Exchange’’) is filing with the Securities and Exchange Commission (the ‘‘Commission’’) a proposal to amend Interpretation and Policy .01 to Rule 11.10 in connection with a risk setting that Users 3 may elect to apply to their orders that will allow them to reject market orders during continuous trading and/or auctions.4 The text of the proposed rule change is provided in Exhibit 5. The text of the proposed rule change is also available on the Exchange’s website (https://markets.cboe.com/us/ options/regulation/rule_filings/edgx/), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 A User is any Member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3. See Rule 1.5(ee). 4 The Exchange plans to implement the proposed rule change on a date that will be circulated in a notice from the Cboe Trade Desk to all Members. 2 17 VerDate Sep<11>2014 18:11 Jul 28, 2023 Jkt 259001 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 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 1. Purpose The purpose of this proposal is to amend Interpretation and Policy .01 to Rule 11.10 to allow the Exchange to offer its Users the ability to apply a risk setting to their orders that will allow them to reject market orders during continuous trading or auctions (‘‘Market Order Check’’). Pursuant to Interpretation and Policy .01 to Rule 11.10, the Exchange currently offers certain optional risk settings applicable to a User’s activities on the Exchange. Specifically, pursuant to Interpretation and Policy .01(c), the Exchange currently provides Users with the controls to restrict order types or modifiers that can be utilized (including pre-market, post-market, short sales, ISOs, and Directed ISOs). When utilized, this optional risk tool acts as a risk filter by evaluating a User’s orders to determine whether the orders comply with certain criteria established by the User. Based on feedback from its Members, the Exchange now seeks to expand this risk setting to allow a User to restrict additional order types from being entered—market orders during continuous trading and/or market orders during auctions (‘‘Market Order Check’’).5 The Market Order Check will 5 The Exchange notes that the proposed Market Order Check will treat a Market Order with a Stop Price as a regular market order. See Rule 11.8(a), where the term Market Order is defined as ‘‘An order to buy and sell a stated amount of a security that is to be executed at the NBBO or better when the order reaches the Exchange’’; see also Rule 11.8(a)(1), where the term ‘‘Stop Price’’ is defined as ‘‘An order may include a Stop Price which will convert the order into a Market Order when the Stop Price is triggered. An order to buy converts to a Market Order when the consolidated last sale in the security occurs at, or above, the specified Stop Price. An order to sell converts into a Market Order when the consolidated last sale in the security occurs at, or below, the specified Stop Price. PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 reside at a User’s port level, a Userspecific logical session used to access the Exchange. A User may utilize the Market Order Check to control the acceptance of, or rejection of, its inbound market orders. Similarly, a Sponsoring Member 6 may utilize the check to control the acceptance of, or rejection of, its Sponsored Participants 7 inbound market orders. Specifically, when utilized the Market Order Check will allow a User to (1) permit market orders; (2) reject market orders during continuous trading and allow market orders during auctions, or (3) reject market orders during continuous trading and also during auctions. In the case of Sponsored Participants, the Sponsoring Member will be responsible for their Sponsored Participant’s Market Order Check settings. The Market Order Check will apply only to equities orders and will not apply to market on open or Separately, the proposed Market Order Check will treat market orders with a ROOC routing option as auction orders. As such, if a User opts to block market orders in continuous trading but allow market orders in auctions, then all market orders with a ROOC routing option will be accepted. If a User chooses to block market orders during both continuous trading and during auctions, then the Market Order Check will prohibit the entry of market orders with a ROOC routing option. The Exchange is handling market orders with a ROOC routing option to ensure that Users have a clear understanding of how the Market Order Check will operate in these scenarios. Orders with ROOC routing options are hybrid in nature and can execute in auctions or during continuous trading. As such, an order may fully execute in the auction, as well as receive no execution or receive a partial fill with the remaining shares being posted to the Exchange Book, executed on the Exchange, or routed to other destinations. Given the various iterations that a market order with a ROOC routing option may encounter, the Exchange believes much operational complexity can be avoided by treating market orders with ROOC routing options in this simplified manner. See Rule 11.11(g)(8), where the term ‘‘ROOC’’ is defined as ‘‘a routing option for orders that the entering firm wishes to designate for the participation in the opening, re-opening (following a halt, suspension, or pause), or closing process of a primary listing market (Cboe BZX, NYSE, Nasdaq, NYSE America, or NYSE Arca) if received before the opening/re-opening/closing time of such market. If shares remain unexecuted after attempting to execute in the opening, reopening, or closing process, they are either posted to the EDGX Book, executed, or routed to destinations on the System routing table.’’ 6 The term ‘‘Sponsoring Member’’ shall mean a broker-dealer that has been issued a membership by the Exchange who has been designated by a Sponsored Participant to execute, clear and settle transactions resulting from the System. The Sponsoring Member shall be either (i) a clearing firm with membership in a clearing agency registered with the Commission that maintains facilities through which transactions may be cleared or (ii) a correspondent firm with a clearing arrangement with any such clearing firm. See Rule 1.5(aa), definition of, ‘‘Sponsoring Member’’. 7 The term ‘‘Sponsored Participant’’ shall mean a person which has entered into a sponsorship arrangement with a Sponsoring Member pursuant to Rule 11.3. See Rule 1.5(z), definition of, ‘‘Sponsored Participant’’. E:\FR\FM\31JYN1.SGM 31JYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 145 (Monday, July 31, 2023)]
[Notices]
[Pages 49515-49516]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16100]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-21, OMB Control No. 3235-0025]


Submission for OMB Review; Comment Request; Extension: Rule 30e-1

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, under the Paperwork Reduction Act of 
1995 (44 U.S.C. 3501 et seq.) (``Paperwork Reduction Act''), 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.
    Rule 30e-1 (17 CFR 270.30e-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') generally 
requires a registered investment company (``fund'') to transmit to its 
shareholders, at least semi-annually, reports containing the 
information that is required to be included in such reports by the 
fund's registration statement form under the Investment Company Act. 
The purpose of the collection of information required by rule 30e-1 is 
to provide fund shareholders with current information about the 
operation of their funds in accordance with Section 30 of the 
Investment Company Act.
    Approximately 2,490 funds, with a total of approximately 10,750 
portfolios, respond to rule 30e-1 annually. Based on conversations with 
fund representatives, we estimate that it takes approximately 84 hours 
to comply with the collection of information associated with rule 30e-1 
per portfolio. This time is spent, for example, preparing, reviewing, 
and certifying the reports. Accordingly, we calculate the total 
estimated annual internal burden of responding to rule 30e-1 to be 
approximately 903,000 hours (84 hours x 10,750 portfolios). In addition 
to the burden hours, based on conversations with fund representatives, 
we estimate that the total cost burden of compliance with the 
information collection requirements of rule 30e-1 is approximately 
$31,061 per portfolio. This includes, for example, the costs for funds 
to prepare, print, and mail the reports. Accordingly, we calculate the 
total external cost burden associated with rule 30e-1 to be 
approximately $333,905,750.
    Estimates of the average burden hours are made solely for the 
purposes of the Paperwork Reduction Act and are not derived from a 
comprehensive or even representative survey or study of the costs of 
Commission rules and forms. The collection of information under rule 
30e-1 is mandatory. The information provided under rule 30e-1 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.
    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 August 30, 2023 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].


[[Page 49516]]


    Dated: July 25, 2023.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-16100 Filed 7-28-23; 8:45 am]
BILLING CODE 8011-01-P

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