Proposed Collection; Comment Request; Extension: Rule 13h-1 and Form 13H, 4353-4354 [2024-01271]

Download as PDF Federal Register / Vol. 89, No. 15 / Tuesday, January 23, 2024 / Notices No. 2 regarding the Cash Account used in connection with creation and redemption of Shares. The proposed change would add clarity to the description of the operation of the Cash Account, to the benefit of all market participants. Except for this change, all other representations made in Amendment No. 2 remain unchanged and will continue to constitute continuing listing requirements for the Fund. Accordingly, the Exchange believes that this proposed rule change raises no novel regulatory issues. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purpose of the Act. As noted above, the proposed rule change is intended only to clarify a representation regarding the Cash Account and would facilitate the continued listing and trading of Shares of the Fund on the Exchange, thereby promoting competition among various exchangetraded products, to the benefit of investors and the marketplace. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. khammond on DSKJM1Z7X2PROD with 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)(iii) of the Act 10 and Rule 19b–4(f)(6) thereunder.11 Because the 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 prior to 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 and Rule 19b– 4(f)(6) thereunder.12 A proposed rule change filed under Rule 19b–4(f)(6) 13 normally does not 10 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 12 In addition, Rule 19b–4(f)(6) requires a selfregulatory organization to give the Commission written notice of its intent to file 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. 13 17 CFR 240.19b–4(f)(6). 11 17 VerDate Sep<11>2014 17:41 Jan 22, 2024 Jkt 262001 become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),14 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 proposal may become operative immediately upon filing. The Exchange states that the proposed rule change is intended only to clarify a representation in Amendment No. 2 relating to the Cash Account. Except for this change, all other representations made in Amendment No. 2 remain unchanged and will continue to constitute continuing listing requirements for the Shares of the Trust. According to the Exchange, the Trust also will continue to comply with the terms of the Approval Order and the requirements of NYSE Arca Rule 8.201–E. 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 provides a clarification to a representation of the Exchange and does not raise any new or novel regulatory issues. Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.15 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. 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: 4353 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–2024–08. 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 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–2024–08 and should be submitted on or before February 13, 2024. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–01187 Filed 1–22–24; 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– NYSEARCA–2024–08 on the subject line. 14 17 CFR 240.19b–4(f)(6)(iii). 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). 15 For PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–614; OMB Control No. 3235–0682] Proposed Collection; Comment Request; Extension: Rule 13h–1 and Form 13H Upon Written Request, Copies Available From: Securities and Exchange 16 17 E:\FR\FM\23JAN1.SGM CFR 200.30–3(a)(12), (59). 23JAN1 4354 Federal Register / Vol. 89, No. 15 / Tuesday, January 23, 2024 / Notices khammond on DSKJM1Z7X2PROD with NOTICES 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’’) is soliciting comments on the existing collection of information provided for in Rule 13h–1 (17 CFR 240.13h–1) and Form 13H—registration of large traders 1 submitted pursuant to Section 13(h) of the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 13h–1 and Form 13H under Section 13(h) of the Exchange Act established a large trader reporting framework.2 The framework assists the Commission in identifying and obtaining certain baseline information about traders that conduct a substantial amount of trading activity, as measured by volume or market value, in the U.S. securities markets. The identification, recordkeeping, and reporting framework provides the Commission with a mechanism to identify large traders and obtain additional information on their trading activity. Specifically, the system requires large traders to identify themselves to the Commission and file certain interim updates with the Commission on Form 13H. Upon receipt of Form 13H, the Commission issues a unique identification number to the large trader, which the large trader then provides to its registered broker-dealers. Certain registered broker-dealers are required to maintain transaction records for each large trader and are required to report that information to the Commission upon request.3 In addition, 1 Rule 13h–1(a)(1) defines ‘‘large trader’’ as any person that directly or indirectly, including through other persons controlled by such person, exercises investment discretion over one or more accounts and effects transactions for the purchase or sale of any NMS security for or on behalf of such accounts, by or through one or more registered broker-dealers, in an aggregate amount equal to or greater than the identifying activity level or voluntarily registers as a large trader by filing electronically with the Commission Form 13H. 2 See Securities Exchange Act Release No. 64976 (July 27, 2011), 76 FR 46959 (August 3, 2011). 3 The Commission, pursuant to Rule 17a–25 (17 CFR 240.17a–25), currently collects transaction data from registered broker-dealers through the Electronic Blue Sheets (‘‘EBS’’) system to support its regulatory and enforcement activities. The large trader framework added two new fields, the time of the trade and the identity of the trader, to the EBS system. Additionally, pursuant to Rule 613 (17 CFR 242.613), the Commission requires each national securities exchange and national securities association to collect transaction data from VerDate Sep<11>2014 17:41 Jan 22, 2024 Jkt 262001 certain registered broker-dealers are required to adopt procedures to monitor their customers for activity that would trigger the identification requirements of the rule. The respondents to the collection of information required by Rule 13h–1 and Form 13H are large traders and registered broker-dealers. The Commission estimates that the total annual time burden associated with Rule 13h–1 and Form 13H is approximately 131,415 hours per year. This burden is comprised of 31,140 hours for initial filings by large traders on Form 13H, 75,300 hours for updates by large traders, 22,200 hours for brokerdealer reporting, and 2,775 hours for broker-dealer monitoring. Compliance with Rule 13h–1 is mandatory. The information collection under proposed Rule 13h–1 is considered confidential subject to the limited exceptions provided by the Freedom of Information Act.4 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 estimates of the burden of the proposed 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 March 25, 2024. 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, 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. registered broker-dealers through the consolidated audit trail, to which the agency has access, to support regulatory and enforcement activities. This data includes the time of each trade and the LTID number of the person exercising investment discretion over the trade, the latter of which is assigned by the Commission pursuant to Rule 13h– 1. 4 See 5 U.S.C. 552 and 15 U.S.C. 78m(h)(7). PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 Dated: January 18, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–01271 Filed 1–22–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99355; File No. SR–NYSE– 2023–09] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Withdrawal of Proposed Rule Change To Amend the NYSE Listed Company Manual To Adopt Listing Standards for Natural Asset Companies January 17, 2024. On September 27, 2023, New York Stock Exchange LLC (the ‘‘Exchange’’ or ‘‘NYSE’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend the NYSE Listed Company Manual to adopt a new listing standard for the listing of Natural Asset Companies (‘‘NAC’’). The proposed rule change was published for comment in the Federal Register on October 4, 2023.3 On November 7, 2023, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On December 21, 2023, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 On January 17, 2024, the Exchange withdrew the proposed rule change (SR–NYSE–2023–09). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 98665 (Sept. 29, 2023), 88 FR 68811 (Oct. 4, 2023) (SR– NYSE–2023–09). Comments received on the NAC Proposal are available at https://www.sec.gov/ comments/sr-nyse-2023-09/srnyse202309.htm. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 98879 (Nov. 7, 2023), 88 FR 78075 (Nov. 14, 2023). The Commission designated January 2, 2024, as the date by which the Commission shall approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 99225 (Dec. 21, 2023), 88 FR 89788 (Dec. 28, 2023). 8 17 CFR 200.30–3(a)(12). 2 17 E:\FR\FM\23JAN1.SGM 23JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 15 (Tuesday, January 23, 2024)]
[Notices]
[Pages 4353-4354]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01271]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-614; OMB Control No. 3235-0682]


Proposed Collection; Comment Request; Extension: Rule 13h-1 and 
Form 13H

Upon Written Request, Copies Available From: Securities and Exchange

[[Page 4354]]

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'') is soliciting comments on the existing 
collection of information provided for in Rule 13h-1 (17 CFR 240.13h-1) 
and Form 13H--registration of large traders \1\ submitted pursuant to 
Section 13(h) of the Securities Exchange Act of 1934 (15 U.S.C. 78a et 
seq.) (``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
---------------------------------------------------------------------------

    \1\ Rule 13h-1(a)(1) defines ``large trader'' as any person that 
directly or indirectly, including through other persons controlled 
by such person, exercises investment discretion over one or more 
accounts and effects transactions for the purchase or sale of any 
NMS security for or on behalf of such accounts, by or through one or 
more registered broker-dealers, in an aggregate amount equal to or 
greater than the identifying activity level or voluntarily registers 
as a large trader by filing electronically with the Commission Form 
13H.
---------------------------------------------------------------------------

    Rule 13h-1 and Form 13H under Section 13(h) of the Exchange Act 
established a large trader reporting framework.\2\ The framework 
assists the Commission in identifying and obtaining certain baseline 
information about traders that conduct a substantial amount of trading 
activity, as measured by volume or market value, in the U.S. securities 
markets.
---------------------------------------------------------------------------

    \2\ See Securities Exchange Act Release No. 64976 (July 27, 
2011), 76 FR 46959 (August 3, 2011).
---------------------------------------------------------------------------

    The identification, recordkeeping, and reporting framework provides 
the Commission with a mechanism to identify large traders and obtain 
additional information on their trading activity. Specifically, the 
system requires large traders to identify themselves to the Commission 
and file certain interim updates with the Commission on Form 13H. Upon 
receipt of Form 13H, the Commission issues a unique identification 
number to the large trader, which the large trader then provides to its 
registered broker-dealers. Certain registered broker-dealers are 
required to maintain transaction records for each large trader and are 
required to report that information to the Commission upon request.\3\ 
In addition, certain registered broker-dealers are required to adopt 
procedures to monitor their customers for activity that would trigger 
the identification requirements of the rule.
---------------------------------------------------------------------------

    \3\ The Commission, pursuant to Rule 17a-25 (17 CFR 240.17a-25), 
currently collects transaction data from registered broker-dealers 
through the Electronic Blue Sheets (``EBS'') system to support its 
regulatory and enforcement activities. The large trader framework 
added two new fields, the time of the trade and the identity of the 
trader, to the EBS system. Additionally, pursuant to Rule 613 (17 
CFR 242.613), the Commission requires each national securities 
exchange and national securities association to collect transaction 
data from registered broker-dealers through the consolidated audit 
trail, to which the agency has access, to support regulatory and 
enforcement activities. This data includes the time of each trade 
and the LTID number of the person exercising investment discretion 
over the trade, the latter of which is assigned by the Commission 
pursuant to Rule 13h-1.
---------------------------------------------------------------------------

    The respondents to the collection of information required by Rule 
13h-1 and Form 13H are large traders and registered broker-dealers. The 
Commission estimates that the total annual time burden associated with 
Rule 13h-1 and Form 13H is approximately 131,415 hours per year. This 
burden is comprised of 31,140 hours for initial filings by large 
traders on Form 13H, 75,300 hours for updates by large traders, 22,200 
hours for broker-dealer reporting, and 2,775 hours for broker-dealer 
monitoring.
    Compliance with Rule 13h-1 is mandatory. The information collection 
under proposed Rule 13h-1 is considered confidential subject to the 
limited exceptions provided by the Freedom of Information Act.\4\
---------------------------------------------------------------------------

    \4\ See 5 U.S.C. 552 and 15 U.S.C. 78m(h)(7).
---------------------------------------------------------------------------

    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 
estimates of the burden of the proposed 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 
March 25, 2024.
    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, 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: January 18, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-01271 Filed 1-22-24; 8:45 am]
BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.