Submission for OMB Review; Comment Request; Extension: Rules 17g-8 and 17g-9, 66466-66467 [2024-18170]

Download as PDF 66466 Federal Register / Vol. 89, No. 158 / Thursday, August 15, 2024 / Notices SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–126, OMB Control No. 3235–0287] khammond on DSKJM1Z7X2PROD with NOTICES Proposed Collection; Comment Request; Extension: Form 4— Statement of Changes in Beneficial Ownership of Securities 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’’) 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 for extension and approval. Under Section 16(a) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et seq.) every person who is directly or indirectly the beneficial owner of more than 10 percent of any class of any equity security (other than an exempted security) which registered under Section 12 of the Exchange Act (15 U.S.C. 78l), or who is a director or an officer of the issuer of such security (collectively ‘‘insiders’’), must file a statement with the Commission reporting their ownership. Form 4 is a statement to disclose changes in an insider’s ownership of securities. The information is used for the purpose of disclosing the equity holdings of insiders of reporting companies. Approximately 186,052 insiders file Form 4 annually and it takes approximately 0.5 hours to prepare for a total of 93,026 annual burden hours (0.5 hours per response × 186,052 responses). Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by 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 in writing within 60 days of this publication by October 15, 2024. VerDate Sep<11>2014 17:25 Aug 14, 2024 Jkt 262001 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. Please direct your written comment 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_Maailbox@ sec.gov. Dated: August 9, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–18198 Filed 8–14–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–659, OMB Control No. 3235–0723] Proposed Collection; Comment Request; Extension: Form 1–Z 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’’) 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 for extension and approval. Form 1–Z (17 CFR 239.94) is used to report terminated or completed offerings or to suspend the duty to file ongoing reports under Regulation A, an exemption from registration under the Securities Act of 1933 (15 U.S.C 77a et seq.). The purpose of the Form 1–Z is to collect empirical data for the Commission on offerings conducted under Regulation A that have terminated or completed, to indicate to the Commission that issuers that have conducted Tier 2 offering are suspending their duty to file reports under Regulation A and to provide such information to the investing public. We estimate that approximately 51 issuers file Form 1–Z annually. We estimate that Form 1–Z takes approximately 1.5 hours to prepare. We estimate that 100% of the 1.5 hours per response is prepared by the company for a total annual burden of 77 hours (1.5 hours per response × 51 responses). PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden imposed by 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 in writing within 60 days of this publication by October 15, 2024. 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. Please direct your written comment 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: August 9, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–18167 Filed 8–14–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–563, OMB Control No. 3235–0693] Submission for OMB Review; Comment Request; Extension: Rules 17g–8 and 17g–9 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’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit an extension for this current collection of information to the Office of Management and Budget for approval. Rules 17g–8 and 17g–9 (17 CFR 240.17g–8 and 17 CFR 240.17g–9) set forth collection of information requirements. Rule 17g–8 requires nationally recognized statistical rating E:\FR\FM\15AUN1.SGM 15AUN1 khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 89, No. 158 / Thursday, August 15, 2024 / Notices organizations (‘‘NRSROs’’) to establish, maintain, enforce, and document policies and procedures that are reasonably designed to achieve the objectives articulated in the rule. Generally, these policies and procedures pertain to (i) the procedures and methodologies NRSROs use to determine credit ratings, and (ii) the symbols, numbers, or scores NRSROs use to denote credit ratings.1 Rule 17g– 8 also requires that the policies and procedures an NRSRO is required to establish, maintain, and enforce pursuant to Section 15E(h)(4)(A) of the Securities Exchange Act of 1934 must, at a minimum, include policies and procedures reasonably designed to achieve the objectives articulated in the rule.2 Rule 17g–9 requires each NRSRO to establish, maintain, enforce, and document standards of training, experience, and competence for the individuals it employs to participate in the determination of credit ratings that are reasonably designed to achieve the objective that the NRSRO produces accurate credit ratings.3 Based on Commission staff’s experience, it is estimated that the total annual burden for NRSROs to comply with Rule 17g–8 and Rule 17g–9 is 1,450 hours and 34,658 hours, respectively. The Commission further estimates that these annual hour burdens will result in a total annual cost with respect to Rule 17g–8 of $539,400 and with respect to Rule 17g–9 of $12,951,746. These costs are attributable to costs NRSROs may incur in completing updates and other activities relating to the policies and procedures adopted pursuant to Rule 17g–8 and the standards adopted pursuant to Rule 17g–9, and in conducting the periodic testing of credit analysts pursuant to standards adopted under Rule 17g–9. 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 within 30 days of publication of this notice by September 16, 2024 to (i) www.reginfo.gov/public/do/PRAMain 1 See 240.17g–8(a) and (b). 240.17g–8(c). 3 See 240.17g–9. 2 See VerDate Sep<11>2014 17:25 Aug 14, 2024 Jkt 262001 and (ii) Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@ sec.gov. Dated: August 9, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–18170 Filed 8–14–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–100683; File No. SR– SAPPHIRE–2024–13] Self-Regulatory Organizations; MIAX Sapphire LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish a Fee Schedule August 9, 2024. 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 August 6, 2024, MIAX Sapphire, LLC (‘‘MIAX Sapphire’’ or ‘‘Exchange’’) 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 The Exchange is filing a proposal to establish a Fee Schedule (the ‘‘Fee Schedule’’) for fees and rebates applicable to participants trading options on and/or using services provided by MIAX Sapphire. MIAX Sapphire will commence operations as a national securities exchange registered under Section 6 of the Act 3 on August 12, 2024.4 While changes to the Fee Schedule pursuant to this proposal are effective upon filing, the Exchange has designated these changes to be operative on August 12, 2024. The text of the proposed rule change is available on the Exchange’s website at 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78f. 4 See Securities Exchange Act Release No. 100539 (July 15, 2024), 89 FR 58848 (July 19, 2024) (File No. 10–240) (order approving application of MIAX Sapphire, LLC for registration as a national securities exchange). 2 17 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 66467 https://www.miaxglobal.com/markets/ us-options/miax-sapphire/rule-filings, at the Exchange’s principal office, and at the Commission’s Public Reference Room. 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 1. Purpose Definitions The Exchange has included a Definitions section at the beginning of its Fee Schedule. The purpose of the Definitions section is to streamline the Fee Schedule by placing many of the defined terms used in the Fee Schedule in one location at the beginning of the Fee Schedule. Many of the defined terms are also defined in the Exchange Rules, particularly in Exchange Rule 100. Any defined terms that are also defined or otherwise explained in the Exchange Rules contain a cross reference to the relevant Exchange Rule. The Exchange notes that other exchanges have Definitions sections in their respective fee schedules,5 and the Exchange believes that including a Definitions section in the front of the Exchange’s Fee Schedule makes the Fee Schedule more user-friendly. The Exchange notes that the proposed definitions to be included in the Definitions section of the Exchange’s Fee Schedule are substantially similar to those definitions found in the Fee Schedule of the Exchange’s affiliate, MIAX PEARL, LLC (‘‘MIAX Pearl’’), with the following few exceptions. The MIAX Sapphire term ‘‘Full Service MEO Port’’ is defined in the 5 See Securities Exchange Act Release Nos. 70200 (August 14, 2013), 78 FR 51242 (August 20, 2013)(SR–Topaz–2013–10); 76453 (November 17, 2015), 80 FR 72999 (November 23, 2015)(SR– EDGX–2015–56); 80061 (February 17, 2017), 82 FR 11676 (February 24, 2017)(SR–PEARL–2017–10); and 85393 (March 21, 2019), 84 FR 11599 (March 27, 2019)(SR–EMERALD–2019–15). E:\FR\FM\15AUN1.SGM 15AUN1

Agencies

[Federal Register Volume 89, Number 158 (Thursday, August 15, 2024)]
[Notices]
[Pages 66466-66467]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18170]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-563, OMB Control No. 3235-0693]


Submission for OMB Review; Comment Request; Extension: Rules 17g-
8 and 17g-9

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'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit an 
extension for this current collection of information to the Office of 
Management and Budget for approval.
    Rules 17g-8 and 17g-9 (17 CFR 240.17g-8 and 17 CFR 240.17g-9) set 
forth collection of information requirements. Rule 17g-8 requires 
nationally recognized statistical rating

[[Page 66467]]

organizations (``NRSROs'') to establish, maintain, enforce, and 
document policies and procedures that are reasonably designed to 
achieve the objectives articulated in the rule. Generally, these 
policies and procedures pertain to (i) the procedures and methodologies 
NRSROs use to determine credit ratings, and (ii) the symbols, numbers, 
or scores NRSROs use to denote credit ratings.\1\ Rule 17g-8 also 
requires that the policies and procedures an NRSRO is required to 
establish, maintain, and enforce pursuant to Section 15E(h)(4)(A) of 
the Securities Exchange Act of 1934 must, at a minimum, include 
policies and procedures reasonably designed to achieve the objectives 
articulated in the rule.\2\ Rule 17g-9 requires each NRSRO to 
establish, maintain, enforce, and document standards of training, 
experience, and competence for the individuals it employs to 
participate in the determination of credit ratings that are reasonably 
designed to achieve the objective that the NRSRO produces accurate 
credit ratings.\3\
---------------------------------------------------------------------------

    \1\ See 240.17g-8(a) and (b).
    \2\ See 240.17g-8(c).
    \3\ See 240.17g-9.
---------------------------------------------------------------------------

    Based on Commission staff's experience, it is estimated that the 
total annual burden for NRSROs to comply with Rule 17g-8 and Rule 17g-9 
is 1,450 hours and 34,658 hours, respectively. The Commission further 
estimates that these annual hour burdens will result in a total annual 
cost with respect to Rule 17g-8 of $539,400 and with respect to Rule 
17g-9 of $12,951,746. These costs are attributable to costs NRSROs may 
incur in completing updates and other activities relating to the 
policies and procedures adopted pursuant to Rule 17g-8 and the 
standards adopted pursuant to Rule 17g-9, and in conducting the 
periodic testing of credit analysts pursuant to standards adopted under 
Rule 17g-9.
    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 within 30 days of publication of this notice 
by September 16, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) 
Austin Gerig, Director/Chief Data Officer, Securities and Exchange 
Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, 
or by sending an email to: [email protected].

    Dated: August 9, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-18170 Filed 8-14-24; 8:45 am]
BILLING CODE 8011-01-P
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