Submission for OMB Review; Comment Request; Extension: Rule 206(4)-6, 51390-51391 [2023-16542]
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Federal Register / Vol. 88, No. 148 / Thursday, August 3, 2023 / Notices
affiliate identifier levels. 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.27
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.
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–CboeEDGX–2023–049 and should be
submitted on or before August 24, 2023.
IV. Solicitation of Comments
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.28
Dated: July 28, 2023.
Sherry R. Haywood,
Assistant Secretary.
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. 2023–16506 Filed 8–2–23; 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–
CboeEDGX–2023–049 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–CboeEDGX–2023–049. 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
27 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
17:35 Aug 02, 2023
Jkt 259001
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–513, OMB Control No.
3235–0571]
Submission for OMB Review;
Comment Request; Extension: Rule
206(4)–6
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
(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 extension of the
previously approved collection of
information discussed below.
The title for the collection of
information is ‘‘Rule 206(4)–6’’ under
the Investment Advisers Act of 1940 (15
U.S.C. 80b–1 et seq.) (‘‘Advisers Act’’)
and the collection has been approved
under OMB Control No. 3235–0571. The
Commission adopted rule 206(4)–6 (17
CFR 275.206(4)–6), the proxy voting
rule, to address an investment adviser’s
28 17
PO 00000
CFR 200.30–3(a)(12), (59).
Frm 00132
Fmt 4703
Sfmt 4703
fiduciary obligation to clients who have
given the adviser authority to vote their
securities. Under the rule, an
investment adviser that exercises voting
authority over client securities is
required to: (i) adopt and implement
policies and procedures that are
reasonably designed to ensure that the
adviser votes securities in the best
interest of clients, including procedures
to address any material conflict that
may arise between the interest of the
adviser and the client; (ii) disclose to
clients how they may obtain
information on how the adviser has
voted with respect to their securities;
and (iii) describe to clients the adviser’s
proxy voting policies and procedures
and, on request, furnish a copy of the
policies and procedures to the
requesting client. The rule is designed
to assure that advisers that vote proxies
for their clients vote those proxies in
their clients’ best interest and provide
clients with information about how
their proxies were voted.
Rule 206(4)–6 contains ‘‘collection of
information’’ requirements within the
meaning of the Paperwork Reduction
Act. 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 collection is
mandatory and responses to the
disclosure requirement are not kept
confidential.
The respondents are investment
advisers registered with the Commission
that vote proxies with respect to clients’
securities. Advisory clients of these
investment advisers use the information
required by the rule to assess
investment advisers’ proxy voting
policies and procedures and to monitor
the advisers’ performance of their proxy
voting activities. The information
required by Advisers Act rule 204–2, a
recordkeeping rule, also is used by the
Commission staff in its examination and
oversight program. Without the
information collected under the rules,
advisory clients would not have
information they need to assess the
adviser’s services and monitor the
adviser’s handling of their accounts, and
the Commission would be less efficient
and effective in its programs.
The estimated number of investment
advisers subject to the collection of
information requirements under the rule
is 14,003. It is estimated that each of
these advisers is required to spend on
average 10 hours annually documenting
its proxy voting procedures under the
requirements of the rule, for a total
burden of 140,030 hours. We further
estimate that on average, approximately
350 clients of each adviser would
E:\FR\FM\03AUN1.SGM
03AUN1
Federal Register / Vol. 88, No. 148 / Thursday, August 3, 2023 / Notices
request copies of the underlying policies
and procedures. We estimate that it
would take these advisers 0.1 hours per
client to deliver copies of the policies
and procedures, for a total burden of
490,105 hours. Accordingly, we
estimate that rule 206(4)–6 results in an
annual aggregate burden of collection
for SEC-registered investment advisers
of a total of 630,135 hours.
Records related to an adviser’s proxy
voting policies and procedures and
proxy voting history are separately
required under the Advisers Act
recordkeeping rule 204–2 (17 CFR
275.204–2). The standard retention
period required for books and records
under rule 204–2 is five years, in an
easily accessible place, the first two
years in an appropriate office of the
investment adviser. OMB has previously
approved the collection with this
retention period.
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 September 5, 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.
Dated: July 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–16542 Filed 8–2–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–203, OMB Control No.
3235–0195]
ddrumheller on DSK120RN23PROD with NOTICES1
Submission for OMB Review;
Comment Request; Extension: Rule
17Ab2–1 and Form CA–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, 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
VerDate Sep<11>2014
17:35 Aug 02, 2023
Jkt 259001
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 17Ab2–1 (17 CFR 240.17Ab2–1)
and Form CA–1: Registration of Clearing
Agencies (17 CFR 249b.200) under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) (15 U.S.C. 78a et seq.).
Rule 17Ab2–1 and Form CA–1 require
clearing agencies to register with the
Commission and to meet certain
requirements with regard to, among
other things, the clearing agency’s
organization, capacities, and rules. The
information is collected from the
clearing agency upon the initial
application for registration on Form
CA–1. Thereafter, information is
collected by amendment to the initial
Form CA–1 when changes in
circumstances that render certain
information on Form CA–1 inaccurate,
misleading, or incomplete necessitate
modification of the information
previously provided to the Commission.
The Commission uses the information
disclosed on Form CA–1 to (i)
determine whether an applicant meets
the standards for registration set forth in
Section 17A of the Exchange Act, (ii)
enforce compliance with the Exchange
Act’s registration requirement, and (iii)
provide information about specific
registered clearing agencies for
compliance and investigatory purposes.
Without Rule 17Ab2–1, the Commission
could not perform these duties as
statutorily required.
The Commission staff estimates that
the average Form CA–1 requires
approximately 340 hours to complete
and submit for approval, and that on
average, the Commission receives one
application each year. The Commission
staff estimates that completion of an
initial Form CA–1 will result in an
internal cost of compliance of
approximately $145,360 per year. The
Commission staff estimates that it
receives one amendment per year, and
that an amendment requires
approximately 60 hours of the exempt
or registered clearing agency’s staff time.
The Commission staff estimates that
amendment of a filed Form CA–1 will
result in an internal cost of compliance
of approximately $28,020 per year.
Therefore, the aggregate hour burden is
approximately 400 hours per year (340
+ 60) and the aggregate internal cost of
compliance is approximately $173,380
per year ($145,360 + $28,020).
The external costs associated with
work on Form CA–1 include fees
charged by outside lawyers and
accountants to assist the applicant or
registrant to collect and prepare the
information sought by the form (though
PO 00000
Frm 00133
Fmt 4703
Sfmt 4703
51391
such consultations are not required by
the Commission). The Commission staff
estimates that these external costs are
more likely when novel questions arise
under a new application, rather than
under periodic review and amendment.
The staff estimates an annual external
cost of 45 hours of an Attorney’s time
(estimated at $462 per hour) and 10
hours of a Senior Accountant’s time
(estimated at $241 per hour) for
preparation of the Form CA–1, resulting
in an aggregate external cost of
approximately $23,200 per year
($20,790 + $2,410).
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 by
September 5, 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 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–16546 Filed 8–2–23; 8:45 am]
BILLING CODE 8011–01–P
SURFACE TRANSPORTATION BOARD
Release of Waybill Data
The Surface Transportation Board has
received a request from the Bi-State
Regional Commission’s Quad Cities
Metropolitan Planning Organization
(WB23–45—7/25/23) for permission to
use select data from the Board’s annual
2021 masked Carload Waybill Sample.
A copy of this request may be obtained
from the Board’s website under Docket
No. WB23–45.
The waybill sample contains
confidential railroad and shipper data;
therefore, if any parties object to these
requests, they should file their
objections with the Director of the
Board’s Office of Economics within 14
calendar days of the date of this notice.
The rules for release of waybill data are
codified at 49 CFR 1244.9.
E:\FR\FM\03AUN1.SGM
03AUN1
]]>Agencies
[Federal Register Volume 88, Number 148 (Thursday, August 3, 2023)]
[Notices]
[Pages 51390-51391]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16542]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-513, OMB Control No. 3235-0571]
Submission for OMB Review; Comment Request; Extension: Rule
206(4)-6
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 (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 extension of the previously approved collection
of information discussed below.
The title for the collection of information is ``Rule 206(4)-6''
under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.)
(``Advisers Act'') and the collection has been approved under OMB
Control No. 3235-0571. The Commission adopted rule 206(4)-6 (17 CFR
275.206(4)-6), the proxy voting rule, to address an investment
adviser's fiduciary obligation to clients who have given the adviser
authority to vote their securities. Under the rule, an investment
adviser that exercises voting authority over client securities is
required to: (i) adopt and implement policies and procedures that are
reasonably designed to ensure that the adviser votes securities in the
best interest of clients, including procedures to address any material
conflict that may arise between the interest of the adviser and the
client; (ii) disclose to clients how they may obtain information on how
the adviser has voted with respect to their securities; and (iii)
describe to clients the adviser's proxy voting policies and procedures
and, on request, furnish a copy of the policies and procedures to the
requesting client. The rule is designed to assure that advisers that
vote proxies for their clients vote those proxies in their clients'
best interest and provide clients with information about how their
proxies were voted.
Rule 206(4)-6 contains ``collection of information'' requirements
within the meaning of the Paperwork Reduction Act. 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 collection is mandatory and responses to the disclosure
requirement are not kept confidential.
The respondents are investment advisers registered with the
Commission that vote proxies with respect to clients' securities.
Advisory clients of these investment advisers use the information
required by the rule to assess investment advisers' proxy voting
policies and procedures and to monitor the advisers' performance of
their proxy voting activities. The information required by Advisers Act
rule 204-2, a recordkeeping rule, also is used by the Commission staff
in its examination and oversight program. Without the information
collected under the rules, advisory clients would not have information
they need to assess the adviser's services and monitor the adviser's
handling of their accounts, and the Commission would be less efficient
and effective in its programs.
The estimated number of investment advisers subject to the
collection of information requirements under the rule is 14,003. It is
estimated that each of these advisers is required to spend on average
10 hours annually documenting its proxy voting procedures under the
requirements of the rule, for a total burden of 140,030 hours. We
further estimate that on average, approximately 350 clients of each
adviser would
[[Page 51391]]
request copies of the underlying policies and procedures. We estimate
that it would take these advisers 0.1 hours per client to deliver
copies of the policies and procedures, for a total burden of 490,105
hours. Accordingly, we estimate that rule 206(4)-6 results in an annual
aggregate burden of collection for SEC-registered investment advisers
of a total of 630,135 hours.
Records related to an adviser's proxy voting policies and
procedures and proxy voting history are separately required under the
Advisers Act recordkeeping rule 204-2 (17 CFR 275.204-2). The standard
retention period required for books and records under rule 204-2 is
five years, in an easily accessible place, the first two years in an
appropriate office of the investment adviser. OMB has previously
approved the collection with this retention period.
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 September 5, 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].
Dated: July 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-16542 Filed 8-2-23; 8:45 am]
BILLING CODE 8011-01-P
