Submission for OMB Review; Comment Request; Extension: Rules 17Ad-6 and 17Ad-7, 40516-40517 [2024-10206]

Download as PDF 40516 Federal Register / Vol. 89, No. 92 / Friday, May 10, 2024 / Notices Seal; Filing Acceptance Date: May 6, 2024; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 through 3040.135, and 39 CFR 3035.105; Public Representative: Kenneth R. Moeller; Comments Due: May 14, 2024. This Notice will be published in the Federal Register. Erica A. Barker, Secretary. [FR Doc. 2024–10259 Filed 5–9–24; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–100065; File No. SR– CboeBZX–2023–087] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Invesco Galaxy Ethereum ETF Under BZX Rule 14.11(e)(4), CommodityBased Trust Shares May 6, 2024. On October 20, 2023, Cboe BZX Exchange, Inc. (‘‘BZX’’ or ‘‘Exchange’’) 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 list and trade shares of the Invesco Galaxy Ethereum ETF under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares. The proposed rule change was published for comment in the Federal Register on November 8, 2023.3 On December 13, 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 February 6, 2024, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act 6 to determine whether to khammond on DSKJM1Z7X2PROD with NOTICES 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 98846 (Nov. 2, 2023), 88 FR 77116. Comments on the proposed rule change are available at: https:// www.sec.gov/comments/sr-cboebzx-2023-087/ srcboebzx2023087.htm. 4 15 U.S.C. 78s(b)(2). 5 See Securities Exchange Act Release No. 99151, 88 FR 87822 (Dec. 19, 2023). 6 15 U.S.C. 78s(b)(2)(B). 2 17 VerDate Sep<11>2014 19:15 May 09, 2024 Jkt 262001 approve or disapprove the proposed rule change.7 Section 19(b)(2) of the Act 8 provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for comment in the Federal Register on November 8, 2023.9 The 180th day after publication of the proposed rule change is May 6, 2024. The Commission is extending the time period for approving or disapproving the proposed rule change for an additional 60 days. The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 designates July 5, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–CboeBZX–2023–087). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2024–10191 Filed 5–9–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–151, OMB Control No. 3235–0291] Submission for OMB Review; Comment Request; Extension: Rules 17Ad–6 and 17Ad–7 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 7 See Securities Exchange Act Release No. 99479, 89 FR 9880 (Feb. 12, 2024). 8 15 U.S.C. 78s(b)(2). 9 See supra note 3 and accompanying text. 10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(57). PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 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 17Ad–6 (17 CFR 240.17Ad–6) and Rule 17Ad–7 (17 CFR 240.17Ad–7) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Rule 17Ad–6 under the Exchange Act requires every registered transfer agent to make and keep current records about a variety of information, such as: (1) specific operational data regarding the time taken to perform transfer agent activities (to ensure compliance with the minimum performance standards in Rule 17Ad–2 (17 CFR 240.17Ad–2)); (2) written inquiries and requests by shareholders and broker-dealers and response time thereto; (3) resolutions, contracts, or other supporting documents concerning the appointment or termination of the transfer agent; (4) stop orders or notices of adverse claims to the securities; and (5) all canceled registered securities certificates. Rule 17Ad–7 under the Exchange Act requires each registered transfer agent to retain the records specified in Rule 17Ad–6 in an easily accessible place for a period of six months to six years, depending on the type of record or document. Rule 17Ad–7 also specifies the manner in which records may be maintained using electronic, microfilm, and microfiche storage methods. These recordkeeping requirements are designed to ensure that all registered transfer agents are maintaining the records necessary for transfer agents to monitor and keep control over their own performance and for the Commission to adequately examine registered transfer agents on an historical basis for compliance with applicable rules. The Commission estimates that approximately 315 registered transfer agents will spend a total of 157,500 hours per year complying with Rules 17Ad–6 and 17Ad–7 (500 hours per year per transfer agent). The retention period under Rule 17Ad–7 for the recordkeeping requirements under Rule 17Ad–6 is six months to six years, depending on the particular record or document. The recordkeeping and retention requirements under Rules 17Ad–6 and 17Ad–7 are mandatory to assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rules. E:\FR\FM\10MYN1.SGM 10MYN1 Federal Register / Vol. 89, No. 92 / Friday, May 10, 2024 / Notices These rules do not involve the collection of confidential information. 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 June 10, 2024 to (i) www.reginfo.gov/ public/do/PRAMain and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Dated: May 6, 2024. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2024–10206 Filed 5–9–24; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–100062; File No. SR– CboeBYX–2024–013] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Introduce a New Connectivity Offering Through Dedicated Cores khammond on DSKJM1Z7X2PROD with NOTICES May 6, 2024. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on April 24, 2024, Cboe BYX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ‘‘non-controversial’’ proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(6). 2 17 VerDate Sep<11>2014 19:15 May 09, 2024 Jkt 262001 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 SECURITIES AND EXCHANGE COMMISSION 1 15 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Cboe BYX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’) proposes to introduce a new connectivity offering. The text of the proposed rule change is also available on the Exchange’s website (https://markets.cboe.com/us/ equities/regulation/rule_filings/byx/), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 1. Purpose The Exchange proposes to introduce a new connectivity offering relating to the use of Dedicated Cores. By way of background, all Central Processing Units (‘‘CPU Cores’’) have historically been shared by logical order entry ports (i.e., multiple logical ports from multiple firms may connect to a single CPU Core). Starting May 6, 2024, the Exchange will allow Users 5 to assign a single Binary Order Entry (‘‘BOE’’) logical order entry port 6 to a single dedicated CPU Core (‘‘Dedicated Core’’).7 Use of Dedicated Cores can 5 A User may be either a Member or Sponsored Participant. The term ‘‘Member’’ shall mean any registered broker or dealer that has been admitted to membership in the Exchange. limited liability company or other organization which is a registered broker or dealer pursuant to Section 15 of the Act, and which has been approved by the Exchange. A Sponsored Participant may be a Member or nonMember of the Exchange whose direct electronic access to the Exchange is authorized by a Sponsoring Member subject to certain conditions. See Exchange Rule 11.3. 6 Users may currently connect to the Exchange using a logical port available through an application programming interface (‘‘API’’), such as the Binary Order Entry (‘‘BOE’’) protocol. A BOE logical order entry port is used for order entry. 7 The Exchange notes that firms will not have physical access to their Dedicated Core and thus cannot make any modifications to the Dedicated Core or server. All Dedicated Cores (including PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 40517 provide reduced latency, enhanced throughput, and improved performance since a firm using a Dedicated Core is utilizing the full processing power of a CPU Core instead of sharing that power with other firms. This offering is completely voluntary and will be available to all Users.8 Users will also continue to have the option to utilize BOE logical order entry ports on shared CPU Cores as they do today, either in lieu of, or in addition to, their use of Dedicated Core(s). As such, Users will be able to operate across a mix of shared and dedicated CPU Cores which the Exchange believes provides additional risk and capacity management, especially during times of market volatility and high message traffic. Further, Dedicated Cores are not required nor necessary to participate on the Exchange and as such Users may opt not to use Dedicated Cores at all. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.9 Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 10 requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 11 requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. In particular, the proposal would provide Users the option to assign a single BOE logical entry port to a single Dedicated Core. As described above, CPU Cores have historically been shared by logical order entry ports (i.e., multiple logical ports from multiple servers used for this service) are owned and operated by the Exchange. 8 The Exchange intends to submit a separate rule filing to adopt monthly fees related to the use of Dedicated Cores. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(5). 11 Id. E:\FR\FM\10MYN1.SGM 10MYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 92 (Friday, May 10, 2024)]
[Notices]
[Pages 40516-40517]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-10206]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-151, OMB Control No. 3235-0291]


Submission for OMB Review; Comment Request; Extension: Rules 
17Ad-6 and 17Ad-7

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 
17Ad-6 (17 CFR 240.17Ad-6) and Rule 17Ad-7 (17 CFR 240.17Ad-7) under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'').
    Rule 17Ad-6 under the Exchange Act requires every registered 
transfer agent to make and keep current records about a variety of 
information, such as: (1) specific operational data regarding the time 
taken to perform transfer agent activities (to ensure compliance with 
the minimum performance standards in Rule 17Ad-2 (17 CFR 240.17Ad-2)); 
(2) written inquiries and requests by shareholders and broker-dealers 
and response time thereto; (3) resolutions, contracts, or other 
supporting documents concerning the appointment or termination of the 
transfer agent; (4) stop orders or notices of adverse claims to the 
securities; and (5) all canceled registered securities certificates.
    Rule 17Ad-7 under the Exchange Act requires each registered 
transfer agent to retain the records specified in Rule 17Ad-6 in an 
easily accessible place for a period of six months to six years, 
depending on the type of record or document. Rule 17Ad-7 also specifies 
the manner in which records may be maintained using electronic, 
microfilm, and microfiche storage methods.
    These recordkeeping requirements are designed to ensure that all 
registered transfer agents are maintaining the records necessary for 
transfer agents to monitor and keep control over their own performance 
and for the Commission to adequately examine registered transfer agents 
on an historical basis for compliance with applicable rules.
    The Commission estimates that approximately 315 registered transfer 
agents will spend a total of 157,500 hours per year complying with 
Rules 17Ad-6 and 17Ad-7 (500 hours per year per transfer agent).
    The retention period under Rule 17Ad-7 for the recordkeeping 
requirements under Rule 17Ad-6 is six months to six years, depending on 
the particular record or document. The recordkeeping and retention 
requirements under Rules 17Ad-6 and 17Ad-7 are mandatory to assist the 
Commission and other regulatory agencies with monitoring transfer 
agents and ensuring compliance with the rules.

[[Page 40517]]

These rules do not involve the collection of confidential information.
    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 June 10, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F 
Street NE, Washington, DC 20549, or by sending an email to: 
[email protected].

    Dated: May 6, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-10206 Filed 5-9-24; 8:45 am]
BILLING CODE 8011-01-P

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