Submission for OMB Review; Comment Request; Extension: Rule 9b-1, 25905-25906 [2024-07807]

Download as PDF lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 89, No. 72 / Friday, April 12, 2024 / Notices Reduction Act of 1995. This is the second notice for public comment; the first was published in the Federal Register, and no comments were received. NSF is forwarding the proposed submission to the Office of Management and Budget (OMB) for clearance simultaneously with the publication of this second notice. DATES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAmain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. FOR FURTHER INFORMATION CONTACT: Suzanne H. Plimpton, Reports Clearance Officer, National Science Foundation, 2415 Eisenhower Avenue, Alexandria, VA 22314, or send email to splimpto@ nsf.gov. Individuals who use a telecommunications device for the deaf (TDD) may call the Federal Information Relay Service (FIRS) at 1–800–877– 8339, which is accessible 24 hours a day, 7 days a week, 365 days a year (including federal holidays). Copies of the submission may be obtained by calling 703–292–7556. SUPPLEMENTARY INFORMATION: NSF may not conduct or sponsor a collection of information unless the collection of information displays a currently valid OMB control number and the agency informs potential persons who are to respond to the collection of information that such persons are not required to respond to the collection of information unless it displays a currently valid OMB control number. Comments: Comments are invited on (a) whether the proposed collection of information is necessary for the proper performance of the functions of the Agency, including whether the information shall have practical utility; (b) the accuracy of the Agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information on respondents, including through the use of automated collection techniques or other forms of information technology; (d) ways to minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. Title of Collection: Medical Clearance Process for Deployment to the Polar Regions. VerDate Sep<11>2014 16:47 Apr 11, 2024 Jkt 262001 OMB Number: 3145–0177. Expiration Date of Approval: October 31, 2023. Type of Request: Revision to and extension of approval of an information collection. Proposed Project: Presidential Memorandum No. 6646 (February 5, 1982) (available from the National Science Foundation, Office of Polar Programs, Office 7100, 2415 Eisenhower Avenue, Alexandria, VA 22314) sets forth the National Science Foundation’s overall management responsibilities for the entire United States national program in Antarctica. Section 107(a) of Public law 98–373 [July 31, 1984; amended as Public Law 101–609November 16, 1990] [available from the National Science Foundation, Office of Polar Programs, Office 7100, 2415 Eisenhower Avenue, Alexandria, VA 22314] designates the National Science Foundation as the lead agency responsible for implementing Arctic research policy, and the Director of the National Science Foundation shall ensure that the requirements of section 108 are fulfilled. NSF Form 1700, Medical Clearance Process for Deployment to the Polar Regions furnishes information to the NSF regarding the physical, mental, and dental health status for all individuals (except DoD-uniformed service personnel) who anticipate deploying to Antarctica under the auspices of the United States Antarctic Program or to certain regions of the Arctic sponsored by the NSF/GEO/Office of Polar Programs. The information is used to determine whether an individual is physically and mentally suited to endure the extreme hardships imposed by the Arctic and Antarctic continents, while also performing specific duties as specified by their employers. Forms 1428–A is for any individual who is determined to be not physically qualified for Polar deployment to request an administrative waiver of the medical screening criteria. This information includes signing a Request for Waiver that is notarized or otherwise legally acceptable in accordance with penalty of perjury statutes, and obtaining and Employer Statement of Support (NSF Form 1429–A). Individuals on a case-by-case basis also may be required to submit additional medical documentation and a letter from the individual’s physician(s) regarding the individual’s medical suitability for Polar deployment. Respondents: All non-DoD uniformed personnel planning to deploy to U.S. stations in the Antarctic or to specified regions of the Arctic that are sponsored PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 25905 by the National Science Foundation’s Office of Polar Programs. The number of annual respondents: 3,700. Estimated Total Annual Burden on Respondents: 37,000 hours. Frequency of Responses: This form is submitted upon an individual’s first deployment to Antarctica (below 60° South) or to specified regions of the Arctic and annually thereafter for the duration of the individual’s deployments. Dated: April 9, 2024. Suzanne H. Plimpton, Reports Clearance Officer,National Science Foundation. [FR Doc. 2024–07808 Filed 4–11–24; 8:45 am] BILLING CODE 7555–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–429, OMB Control No. 3235–0480] Submission for OMB Review; Comment Request; Extension: Rule 9b–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 Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the previously approved collection of information provided for in Rule 9b–1 (17 CFR 240.9b–1), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 9b–1 (17 CFR 240.9b–1) sets forth the categories of information required to be disclosed in an options disclosure document (‘‘ODD’’) and requires the options markets to file an ODD with the Commission 60 days prior to the date it is distributed to investors. In addition, Rule 9b–1 provides that the ODD must be amended if the information in the document becomes materially inaccurate or incomplete and that amendments must be filed with the Commission 30 days prior to the distribution to customers. Finally, Rule 9b–1 requires a broker-dealer to furnish to each customer an ODD and any amendments prior to accepting an order to purchase or sell an option on behalf of that customer or when approving a customer’s account for options trading. E:\FR\FM\12APN1.SGM 12APN1 lotter on DSK11XQN23PROD with NOTICES1 25906 Federal Register / Vol. 89, No. 72 / Friday, April 12, 2024 / Notices There are 17 options markets 1 that must comply with Rule 9b–1. These respondents work together to prepare a single ODD covering options traded on each market, as well as amendments to the ODD. These respondents file approximately 3 amendments per year. The staff calculates that the preparation and filing of amendments should take no more than eight hours per options market. Thus, the total time burden for options markets per year is approximately 408 hours (17 options markets × 8 hours per amendment × 3 amendments per year). The estimated cost for an in-house attorney is $483 per hour,2 resulting in a total internal cost of compliance for these respondents of approximately $197,064 per year (408 hours at $483 per hour). In addition, approximately 955 broker-dealers 3 must comply with Rule 9b–1. Each of these respondents will process an average of 3 new customers for options each week and, therefore, will have to furnish approximately 156 ODDs per year. The postal mailing or electronic delivery of the ODD takes respondents no more than 30 seconds to complete for an annual compliance burden for each of these respondents of approximately 78 minutes or 1.3 hours. Thus, the total time burden per year for broker-dealers is approximately 1,242 hours (955 broker-dealers × 1.3 hours). The estimated cost for a general clerk of a broker-dealer is $81 per hour,4 resulting in a total internal cost of compliance for these respondents of approximately $100,602 per year (1,242 hours at $81 per hour). The total time burden for all respondents under this rule (both options markets and broker-dealers) is approximately 1,650 hours per year (408 + 1,242), and the total internal cost of compliance is approximately $297,666 per year ($197,064 + $100,602). 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. 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 May 13, 2024 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. 1 The seventeen options markets are as follows: BOX Exchange LLC, Cboe BZX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., MEMX, LLC, Miami International Securities Exchange LLC, MIAX Emerald, LLC, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX LLC, the Nasdaq Options Market (NOM), NYSE Arca, Inc., and NYSE American LLC. 2 SIFMA did its last annual survey in 2013 and will not resume the survey process. Accordingly, the $483 figure is based on the 2013 figure ($380) adjusted by the inflation rate calculated using the Bureau of Labor Statistics’ CPI Inflation Calculator. The $380 per hour figure for an Attorney is from SIFMA’s Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for an 1800-hour workyear and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. 3 The estimate of 955 broker-dealers required to comply with Rule 9b–1 is derived from Item 12 of the Form BD (OMB Control No. 3235–0012). This estimate may be high as it includes broker-dealers that engage in only a proprietary business, and as a result are not required to deliver an ODD, as well as those broker-dealers subject to Rule 9b–1. 4 The $81 figure is based on the 2013 figure ($57) adjusted for inflation. See supra note 2. As noted above, SIFMA did its last annual survey in 2013 and will not resume the survey process. Accordingly, the $81 figure is based on the 2013 figure ($57) adjusted for inflation. The $57 per hour figure for a General Clerk is from SIFMA’s Office Salaries in the Securities Industry 2013, modified by Commission staff to account for an 1800-hour work-year and multiplied by 2.93 to account for bonuses, firm size, employee benefits and overhead. [FR Doc. 2024–07807 Filed 4–11–24; 8:45 am] VerDate Sep<11>2014 16:47 Apr 11, 2024 Jkt 262001 Dated: April 9, 2024. Sherry R. Haywood, Assistant Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99922; File No. SR–LCH SA–2023–007] Self-Regulatory Organizations; LCH SA; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Liquidity Risk Modelling Framework April 8, 2024. I. Introduction On December 22, 2023, Banque Centrale de Compensation, which conducts business under the name LCH SA (‘‘LCH SA’’), filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change SR–LCH SA–2023–007 (‘‘Proposed Rule Change’’) pursuant to The staff believes that the ODD would be mailed or electronically delivered to customers by a general clerk of the broker-dealer or some other equivalent position. PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 section 19(b) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 2 thereunder to amend its Liquidity Risk Modelling Framework (the ‘‘Framework’’). The Proposed Rule Change was published for public comment in the Federal Register on January 11, 2024.3 The Commission has received no comments regarding the Proposed Rule Change. On February 21, 2024, pursuant to Section 19(b)(2) of the Exchange Act,4 the Commission designated a longer period within which to approve, disapprove, or institute proceedings to determine whether to approve or disapprove the Proposed Rule Change, until April 10, 2024.5 The Commission is instituting proceedings, pursuant to section 19(b)(2)(B) of the Exchange Act,6 to determine whether to approve or disapprove the proposed rule change. II. Summary of the Proposed Rule Change LCH SA is a clearing agency that offers clearing of, among other things, credit-default swaps (‘‘CDS’’).7 LCH SA is registered with the Commission for clearing CDS that are security-based swaps and with the Commodity Futures Trading Commission for clearing CDS that are swaps. As part of its clearing business, LCH SA maintains cash and other liquid financial resources to meet its financial obligations. The Framework and other procedures describe how LCH SA maintains these resources and manages its liquidity risk, meaning the risk that LCH SA will not have enough liquid financial resources to meet its financial obligations.8 The Framework specifically describes how LCH SA’s Collateral and Liquidity Risk Management department ensures that LCH SA has enough cash available to meet any financial obligations, both 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Exchange Act Release No. 99277 (Jan. 5, 2024), 89 FR 1952 (Jan. 11, 2024) (File No. SR–LCH SA– 2023–007) (‘‘Notice’’). 4 15 U.S.C. 78s(b)(2). 5 Exchange Act Release No. 99569 (Feb. 21, 2024), 89 FR 14538 (Feb. 27, 2024) (File No. SR–LCH SA– 2023–007). 6 15 U.S.C. 78s(b)(2)(B). 7 Capitalized terms used but not defined herein have the meanings specified in the LCH SA Rule Book or Framework as applicable. 8 LCH SA, a subsidiary of LCH Group and an indirect subsidiary of the London Stock Exchange Group plc (‘‘LSEG’’), manages its liquidity risk pursuant to, among other policies and procedures, the Group Liquidity Risk Policy and the Group Liquidity Plan applicable to each entity within LCH Group. In addition to its CDSClear service, LCH SA provides clearing services in connection with cash equities and derivatives listed for trading on Euronext (EquityClear), commodity derivatives listed for trading on Euronext (CommodityClear), and tri-party Repo transactions (RepoClear). 2 17 E:\FR\FM\12APN1.SGM 12APN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 72 (Friday, April 12, 2024)]
[Notices]
[Pages 25905-25906]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07807]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-429, OMB Control No. 3235-0480]


Submission for OMB Review; Comment Request; Extension: Rule 9b-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 Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 9b-1 
(17 CFR 240.9b-1), under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.).
    Rule 9b-1 (17 CFR 240.9b-1) sets forth the categories of 
information required to be disclosed in an options disclosure document 
(``ODD'') and requires the options markets to file an ODD with the 
Commission 60 days prior to the date it is distributed to investors. In 
addition, Rule 9b-1 provides that the ODD must be amended if the 
information in the document becomes materially inaccurate or incomplete 
and that amendments must be filed with the Commission 30 days prior to 
the distribution to customers. Finally, Rule 9b-1 requires a broker-
dealer to furnish to each customer an ODD and any amendments prior to 
accepting an order to purchase or sell an option on behalf of that 
customer or when approving a customer's account for options trading.

[[Page 25906]]

    There are 17 options markets \1\ that must comply with Rule 9b-1. 
These respondents work together to prepare a single ODD covering 
options traded on each market, as well as amendments to the ODD. These 
respondents file approximately 3 amendments per year. The staff 
calculates that the preparation and filing of amendments should take no 
more than eight hours per options market. Thus, the total time burden 
for options markets per year is approximately 408 hours (17 options 
markets x 8 hours per amendment x 3 amendments per year). The estimated 
cost for an in-house attorney is $483 per hour,\2\ resulting in a total 
internal cost of compliance for these respondents of approximately 
$197,064 per year (408 hours at $483 per hour).
---------------------------------------------------------------------------

    \1\ The seventeen options markets are as follows: BOX Exchange 
LLC, Cboe BZX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGX 
Exchange, Inc., Cboe Exchange, Inc., MEMX, LLC, Miami International 
Securities Exchange LLC, MIAX Emerald, LLC, MIAX PEARL, LLC, Nasdaq 
BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq 
PHLX LLC, the Nasdaq Options Market (NOM), NYSE Arca, Inc., and NYSE 
American LLC.
    \2\ SIFMA did its last annual survey in 2013 and will not resume 
the survey process. Accordingly, the $483 figure is based on the 
2013 figure ($380) adjusted by the inflation rate calculated using 
the Bureau of Labor Statistics' CPI Inflation Calculator. The $380 
per hour figure for an Attorney is from SIFMA's Management & 
Professional Earnings in the Securities Industry 2013, modified by 
Commission staff to account for an 1800-hour work-year and 
multiplied by 5.35 to account for bonuses, firm size, employee 
benefits and overhead.
---------------------------------------------------------------------------

    In addition, approximately 955 broker-dealers \3\ must comply with 
Rule 9b-1. Each of these respondents will process an average of 3 new 
customers for options each week and, therefore, will have to furnish 
approximately 156 ODDs per year. The postal mailing or electronic 
delivery of the ODD takes respondents no more than 30 seconds to 
complete for an annual compliance burden for each of these respondents 
of approximately 78 minutes or 1.3 hours. Thus, the total time burden 
per year for broker-dealers is approximately 1,242 hours (955 broker-
dealers x 1.3 hours). The estimated cost for a general clerk of a 
broker-dealer is $81 per hour,\4\ resulting in a total internal cost of 
compliance for these respondents of approximately $100,602 per year 
(1,242 hours at $81 per hour).
---------------------------------------------------------------------------

    \3\ The estimate of 955 broker-dealers required to comply with 
Rule 9b-1 is derived from Item 12 of the Form BD (OMB Control No. 
3235-0012). This estimate may be high as it includes broker-dealers 
that engage in only a proprietary business, and as a result are not 
required to deliver an ODD, as well as those broker-dealers subject 
to Rule 9b-1.
    \4\ The $81 figure is based on the 2013 figure ($57) adjusted 
for inflation. See supra note 2. As noted above, SIFMA did its last 
annual survey in 2013 and will not resume the survey process. 
Accordingly, the $81 figure is based on the 2013 figure ($57) 
adjusted for inflation. The $57 per hour figure for a General Clerk 
is from SIFMA's Office Salaries in the Securities Industry 2013, 
modified by Commission staff to account for an 1800-hour work-year 
and multiplied by 2.93 to account for bonuses, firm size, employee 
benefits and overhead. The staff believes that the ODD would be 
mailed or electronically delivered to customers by a general clerk 
of the broker-dealer or some other equivalent position.
---------------------------------------------------------------------------

    The total time burden for all respondents under this rule (both 
options markets and broker-dealers) is approximately 1,650 hours per 
year (408 + 1,242), and the total internal cost of compliance is 
approximately $297,666 per year ($197,064 + $100,602).
    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.
    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 May 13, 2024 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: April 9, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-07807 Filed 4-11-24; 8:45 am]
BILLING CODE 8011-01-P

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