Proposed Collection; Comment Request; Extension: Form N-5, 58456-58457 [2024-15823]

Download as PDF 58456 Federal Register / Vol. 89, No. 138 / Thursday, July 18, 2024 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.19 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: (i) necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule 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: khammond on DSKJM1Z7X2PROD with NOTICES 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– NASDAQ–2024–032 on the subject line. 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–NASDAQ–2024–032. 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 19 15 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–NASDAQ–2024–032 and should be submitted on or before August 8, 2024. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2024–15761 Filed 7–17–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–172, OMB Control No. 3235–0169] Proposed Collection; Comment Request; Extension: Form N–5 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 (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Form N–5 (17 CFR 239.24 and 274.5) is the form used by small business investment companies (‘‘SBICs’’) to register their securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’) and the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’). Form N–5 is the registration statement form adopted by the Commission for use by an SBIC that U.S.C. 78s(b)(3)(A)(ii). VerDate Sep<11>2014 16:47 Jul 17, 2024 20 17 Jkt 262001 PO 00000 CFR 200.30–3(a)(12). Frm 00130 Fmt 4703 Sfmt 4703 has been licensed as such under the Small Business Investment Act of 1958 or which has received the preliminary approval of the Small Business Administration (‘‘SBA’’) and has been notified by the SBA that the company may submit a license application Form N–5 is an integrated registration form and may be used as the registration statement under both the Securities Act and the Investment Company Act. The purpose of Form N–5 is to meet the filing and disclosure requirements of both the Securities Act and Investment Company Act, and to provide investors with information sufficient to evaluate an investment in an SBIC. The information that is required to be filed with the Commission permits verification of compliance with securities law requirements and assures the public availability and dissemination of the information. The Commission did not receive any filings on Form N–5 in the last three years (or in the three years before that). Nevertheless, for purposes of this PRA, we conservatively estimate that at least one Form N–5 will be filed in the next three years, which translates to about 0.333 filings on Form N–5 per year. The currently approved internal burden of Form N–5 is 352 hours per response. We continue to believe this estimate for Form N–5’s internal hour burden is appropriate. Therefore, the number of currently approved aggregate burden hours, when calculated using the current estimate for number of filings, is about 117 internal hours per year. The currently approved external cost burden of Form N–5 is $12,524per filing. The requested external cost burden for filing one Form N–5 would be $14,746 per year. This estimated burden is based on the estimated wage rate of $584/hour, for 25.25 hours, for outside legal services to complete the form and provide the required hyperlinks. Estimates of average burden hours and costs 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. Compliance with the collection of information requirements of Form N–5 is mandatory. Responses to the collection of information 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. Written comments are invited on: (a) whether the proposed collection of information is necessary for the proper performance of the functions of the E:\FR\FM\18JYN1.SGM 18JYN1 Federal Register / Vol. 89, No. 138 / Thursday, July 18, 2024 / Notices Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the 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 September 16, 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: Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_Mailbox@ sec.gov. Dated: July 15, 2024. J. Matthew DeLesDernier, Deputy Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–100525; File No. SR– CboeBZX–2024–062] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule July 12, 2024. khammond on DSKJM1Z7X2PROD with NOTICES 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 1, 2024, Cboe BZX Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 16:47 Jul 17, 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 [FR Doc. 2024–15823 Filed 7–17–24; 8:45 am] Cboe BZX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BZX’’) proposes to amend its Fee Schedule. 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/ equities/regulation/rule_filings/BZX/), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 1. Purpose The Exchange proposes to amend its Fee Schedule applicable to its equities trading platform (‘‘BZX Equities’’) by introducing a new Non-Displayed Add Volume Tier. The Exchange proposes to implement this change effective July 1, 2024. The Exchange first notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive or incentives to be insufficient. More specifically, the Exchange is only one of 16 registered equities exchanges, as well as a number of alternative trading systems and other off-exchange venues that do not have similar self-regulatory responsibilities under the Securities Exchange Act of 1934 (the ‘‘Act’’), to which market participants may direct their order flow. Based on publicly available information,3 no single registered equities exchange has more than 16% of the market share. Thus, in such a low-concentrated and highly competitive market, no single equities exchange possesses significant pricing power in the execution of order flow. The Exchange in particular operates a 3 See Cboe Global Markets, U.S. Equities Market Volume Summary, Month-to-Date (June 21, 2024), available at https://www.cboe.com/us/equities/ market_statistics/. PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 58457 ‘‘Maker-Taker’’ model whereby it pays rebates to members that add liquidity and assesses fees to those that remove liquidity. The Exchange’s Fee Schedule sets forth the standard rebates and rates applied per share for orders that provide and remove liquidity, respectively. Currently, for orders in securities priced at or above $1.00, the Exchange provides a standard rebate of $0.00160 per share for orders that add liquidity and assesses a fee of $0.0030 per share for orders that remove liquidity.4 For orders in securities priced below $1.00, the Exchange does not provide a rebate for orders that add liquidity and assesses a fee of 0.30% of the total dollar value for orders that remove liquidity.5 Additionally, in response to the competitive environment, the Exchange also offers tiered pricing which provides Members opportunities to qualify for higher rebates or reduced fees where certain volume criteria and thresholds are met. Tiered pricing provides an incremental incentive for Members to strive for higher tier levels, which provides increasingly higher benefits or discounts for satisfying increasingly more stringent criteria. Add/Remove Volume Tiers Under footnote 1 of the Fee Schedule, the Exchange offers various Add/ Remove Volume Tiers. In particular, the Exchange offers four Non-Displayed Add Volume Tiers that each provide an enhanced rebate for Members’ qualifying orders yielding fee codes HB,6 HV,7 or HY,8 where a Member reaches certain volume-based criteria offered in each tier. The Exchange now proposes to introduce a new NonDisplayed Add Volume Tier 5. The proposed criteria for Non-Displayed Add Volume Tier 5 is as follows: • Non-Displayed Add Volume Tier 5 provides a rebate of $0.0027 per share in securities priced at or above $1.00 to qualifying orders (i.e., orders yielding fee codes HB, HV, or HY) where a Member adds a Step-Up ADV 9 from 4 See BZX Equities Fee Schedule, Standard Rates. 5 Id. 6 Fee code HB is appended to non-displayed orders that add liquidity to BZX in Tape B securities. 7 Fee code HV is appended to non-displayed orders that add liquidity to BZX in Tape A securities. 8 Fee code HY is appended to non-displayed orders that add liquidity to BZX in Tape C securities. 9 Step-Up ADV means ADV in the relevant baseline month subtracted from current day ADV. ADV means average daily volume calculated as the number of shares added or removed, combined, per day and is calculated on a monthly basis. E:\FR\FM\18JYN1.SGM 18JYN1

Agencies

[Federal Register Volume 89, Number 138 (Thursday, July 18, 2024)]
[Notices]
[Pages 58456-58457]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15823]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-172, OMB Control No. 3235-0169]


Proposed Collection; Comment Request; Extension: Form N-5

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 (the ``Commission'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Form N-5 (17 CFR 239.24 and 274.5) is the form used by small 
business investment companies (``SBICs'') to register their securities 
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities 
Act'') and the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) 
(``Investment Company Act''). Form N-5 is the registration statement 
form adopted by the Commission for use by an SBIC that has been 
licensed as such under the Small Business Investment Act of 1958 or 
which has received the preliminary approval of the Small Business 
Administration (``SBA'') and has been notified by the SBA that the 
company may submit a license application Form N-5 is an integrated 
registration form and may be used as the registration statement under 
both the Securities Act and the Investment Company Act. The purpose of 
Form N-5 is to meet the filing and disclosure requirements of both the 
Securities Act and Investment Company Act, and to provide investors 
with information sufficient to evaluate an investment in an SBIC. The 
information that is required to be filed with the Commission permits 
verification of compliance with securities law requirements and assures 
the public availability and dissemination of the information.
    The Commission did not receive any filings on Form N-5 in the last 
three years (or in the three years before that). Nevertheless, for 
purposes of this PRA, we conservatively estimate that at least one Form 
N-5 will be filed in the next three years, which translates to about 
0.333 filings on Form N-5 per year. The currently approved internal 
burden of Form N-5 is 352 hours per response. We continue to believe 
this estimate for Form N-5's internal hour burden is appropriate. 
Therefore, the number of currently approved aggregate burden hours, 
when calculated using the current estimate for number of filings, is 
about 117 internal hours per year. The currently approved external cost 
burden of Form N-5 is $12,524per filing. The requested external cost 
burden for filing one Form N-5 would be $14,746 per year. This 
estimated burden is based on the estimated wage rate of $584/hour, for 
25.25 hours, for outside legal services to complete the form and 
provide the required hyperlinks.
    Estimates of average burden hours and costs 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. Compliance with the collection of 
information requirements of Form N-5 is mandatory. Responses to the 
collection of information 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.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the

[[Page 58457]]

Commission, including whether the information shall have practical 
utility; (b) the accuracy of the Commission's estimate of the burden of 
the 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 September 16, 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: Austin Gerig, Director/
Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun 
Ajayi, 100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: July 15, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-15823 Filed 7-17-24; 8:45 am]
BILLING CODE 8011-01-P
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