Submission for OMB Review; Comment Request; Extension: Rule 206(3)-2, 94783-94784 [2024-27983]

Download as PDF Federal Register / Vol. 89, No. 230 / Friday, November 29, 2024 / Notices POSTAL SERVICE Electronic Statements Product Change—Priority Mail and USPS Ground Advantage® Negotiated Service Agreement • Use the Commission’s internet submission form (https://www.sec.gov/ rules/other.shtml); or • Send an email message to rulescomments@sec.gov. Please include File No. 265–28 on the subject line; or Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Date of required notice: November 29, 2024. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on November 19, 2024, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail & USPS Ground Advantage® Contract 472 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2025–457, K2025–454. SUMMARY: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2024–27931 Filed 11–27–24; 8:45 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION Paper Statements • Send paper statements to Vanessa A. Countryman, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File No. 265–28. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. The Commission will post all statements on the Commission’s website. Statements also will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Room 1503, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Operating conditions may limit access to the Commission’s Public Reference Room. Do not include personal 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. The agenda for the meeting includes: welcome and opening remarks; approval of previous meeting minutes; a panel discussion regarding the use of mandatory arbitration clauses by registered investment advisers; a panel discussion regarding mainstreaming of alternative assets to retail investors; a discussion of a recommendation regarding protection of investors in their interactions with finfluencers; subcommittee and working group reports; and a non-public administrative session. MATTERS TO BE CONSIDERED: Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Publc Law 94–409, that the Securities and Exchange Commission Investor Advisory Committee will hold a public meeting on Tuesday, December 10, 2024. The meeting will begin at 10:00 a.m. (ET) and will be open to the public. PLACE: The meeting will be conducted by remote means. Members of the public may watch the webcast of the meeting on the Commission’s website at www.sec.gov. STATUS: This Sunshine Act notice is being issued because a majority of the Commission may attend the meeting. Public Comment: The public is invited to submit written statements to the Committee. Written statements should be received on or before December 9, 2024. Written statements may be submitted by any of the following methods: khammond on DSK9W7S144PROD with NOTICES TIME AND DATE: VerDate Sep<11>2014 21:22 Nov 27, 2024 Jkt 265001 CONTACT PERSON FOR MORE INFORMATION: For further information, please contact Vanessa A. Countryman from the Office of the Secretary at (202) 551–5400. Authority: 5 U.S.C. 552b. Dated: November 26, 2024. Vanessa A. Countryman, Secretary. [FR Doc. 2024–28203 Filed 11–26–24; 4:15 pm] BILLING CODE 8011–01–P PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 94783 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–216, OMB Control No. 3235–0243] Submission for OMB Review; Comment Request; Extension: Rule 206(3)–2 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’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 206(3)–2, (17 CFR 275.206(3)–2) which is entitled ‘‘Agency Cross Transactions for Advisory Clients,’’ permits investment advisers to comply with section 206(3) of the Investment Advisers Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80b–6(3)) by obtaining a client’s blanket consent to enter into agency cross transactions (i.e., a transaction in which an adviser acts as a broker to both the advisory client and the opposite party to the transaction). Rule 206(3)–2 applies to all registered investment advisers. In relying on the rule, investment advisers must provide certain disclosures to their clients. Advisory clients can use the disclosures to monitor agency cross transactions that affect their advisory account. The Commission also uses the information required by Rule 206(3)–2 in connection with its investment adviser inspection program to ensure that advisers are in compliance with the rule. Without the information collected under the rule, advisory clients would not have information necessary for monitoring their adviser’s handling of their accounts and the Commission would be less efficient and effective in its inspection program. The information requirements of the rule consist of the following: (1) prior to obtaining the client’s consent, appropriate disclosure must be made to the client as to the practice of, and the conflicts of interest involved in, agency cross transactions; (2) at or before the completion of any such transaction, the client must be furnished with a written confirmation containing specified information and offering to furnish upon request certain additional information; and (3) at least annually, the client must be furnished with a E:\FR\FM\29NON1.SGM 29NON1 94784 Federal Register / Vol. 89, No. 230 / Friday, November 29, 2024 / Notices khammond on DSK9W7S144PROD with NOTICES written statement or summary as to the total number of transactions during the period covered by the consent and the total amount of commissions received by the adviser or its affiliated brokerdealer attributable to such transactions. The Commission estimates that approximately 362 respondents use the rule annually, necessitating about 65 responses per respondent each year, for a total of 23,530 responses. Each response requires an estimated 0.5 hours, for a total of 11,765 hours. The estimated average burden hours are made solely for the purposes of the Paperwork Reduction Act and are not derived from a comprehensive or representative survey or study of the cost of Commission rules and forms. This collection of information is found at (17 CFR 275.206(3)–2) and is necessary in order for the investment adviser to obtain the benefits of Rule 206(3)–2. The collection of information requirements under the rule is mandatory. Information subject to the disclosure requirements of Rule 206(3)– 2 does not require submission to the Commission; and, accordingly, the disclosure pursuant to the rule is not kept confidential. Commission-registered investment advisers are required to maintain and preserve certain information required under Rule 206(3)–2 for five (5) years. The long-term retention of these records is necessary for the Commission’s inspection program to ascertain compliance with the Advisers Act. 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. The 30-day public comment period for this information collection request opens on December 2, 2024 and ends on December 30, 2024. View the full information request and submit comments at https://www.reginfo.gov/ public/do/PRAViewICR?ref_ nbr=202409-3235-006 or email comments to MBX.OMB.OIRA.SEC_ desk_officer@omb.eop.gov. Dated: November 22, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–27983 Filed 11–27–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–101718; File No. SR– PEARL–2024–53] Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 402, Criteria for Underlying Securities, Exchange To Allow the Exchange To List and Trade Options on the Grayscale Bitcoin Trust, the Grayscale Bitcoin Mini Trust, and the Bitwise Bitcoin ETF November 22, 2024. Pursuant to the provisions of 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 November 21, 2024, MIAX PEARL, LLC (‘‘MIAX Pearl’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I and II 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 amend Exchange Rule 402, Criteria for Underlying Securities. The text of the proposed rule change is available on the Exchange’s website at https://www.miaxglobal.com/markets/ us-equities/pearl-equities/rule-filings, at MIAX Pearl’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. 1 15 2 17 VerDate Sep<11>2014 21:22 Nov 27, 2024 Jkt 265001 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00084 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange 3 proposes to amend Exchange Rule 402, Criteria for Underlying Securities, to allow the Exchange to list and trade options on the following exchange-traded products: the Grayscale Bitcoin Trust (BTC) (the ‘‘Grayscale Fund’’ or ‘‘GBTC’’), the Grayscale Bitcoin Mini Trust BTC (the ‘‘Grayscale Mini Fund’’ or ‘‘BTC’’), and the Bitwise Bitcoin ETF (the ‘‘Bitwise Fund’’ or ‘‘BITB’’ and, collectively, the ‘‘Bitcoin Funds’’ or ‘‘Funds’’).4 As noted above, MIAX’s rules governing position limits and exercise limits for options positions are incorporated by reference into the MIAX Pearl Rulebook and are therefore MIAX Pearl rules applicable to market participants on MIAX Pearl. MIAX is filing a substantively similar proposal to list and trade options on the Bitcoin Funds. That filing includes proposed change to Exchange Rules 307 (position limits) and 309 (exercise limits), which changes will be incorporated by reference into the MIAX Pearl Rulebook. The Exchange notes that this is a competitive filing based on a similar proposal submitted by NYSE American LLC (‘‘NYSE American’’), which was approved by the Commission.5 The 3 The Exchange notes that its affiliate options exchanges, Miami International Securities Exchange, LLC (‘‘MIAX’’) and MIAX Sapphire, LLC (‘‘MIAX Sapphire’’), plan to submit (or have already submitted) substantively identical proposals to list and trade options on the Bitcoin Funds. The Exchange notes that all the rules of Chapter III of MIAX, including Exchange Rules 307 and 309, are incorporated by reference to the MIAX Pearl and MIAX Sapphire Rulebooks. The Exchange also notes that all of the rules of Chapter III of MIAX, including Exchange Rules 307 and 309, and the rules of Chapter IV of MIAX, including Exchange Rule 402, are incorporated by reference into the Exchange’s affiliate, MIAX Emerald, LLC (‘‘MIAX Emerald’’). 4 On January 10, 2024, the Securities and Exchange Commission (‘‘Commission’’) approved proposals by NYSE Arca, Inc., The Nasdaq Stock Market LLC, and Cboe BZX Exchange, Inc. to list and trade the shares of 11 bitcoin-based commodity-based trust shares and trust units, including the iShares Bitcoin Trust. See Securities Exchange Act Release No. 99306 (Jan. 10, 2024), 89 FR 3008 (Jan. 17, 2024) (order approving File Nos. SR–NYSEARCA–2021–90; SR–NYSEARCA–2023– 44; SR–NYSEARCA–2023–58; SR–NASDAQ–2023– 016; SR–NASDAQ–2023–019; SR–CboeBZX–2023– 028; SR–CboeBZX–2023–038; SR–CboeBZX–2023– 040; SR–CboeBZX–2023–042; SR–CboeBZX–2023– 044; SR–CboeBZX–2023–072) (‘‘Bitcoin ETP Order’’). 5 See Securities Exchange Act Release No. 101386 (October 18, 2024), 89 FR 84960 (October 24, 2024) (SR–NYSEAMER–2024–49) (Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Amendment No. 3 and Order Granting Accelerated Approval of a Proposed Rule Change, E:\FR\FM\29NON1.SGM 29NON1

Agencies

[Federal Register Volume 89, Number 230 (Friday, November 29, 2024)]
[Notices]
[Pages 94783-94784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27983]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-216, OMB Control No. 3235-0243]


Submission for OMB Review; Comment Request; Extension: Rule 
206(3)-2

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'') has submitted to the Office of 
Management and Budget a request for extension of the previously 
approved collection of information discussed below.
    Rule 206(3)-2, (17 CFR 275.206(3)-2) which is entitled ``Agency 
Cross Transactions for Advisory Clients,'' permits investment advisers 
to comply with section 206(3) of the Investment Advisers Act of 1940 
(the ``Act'') (15 U.S.C. 80b-6(3)) by obtaining a client's blanket 
consent to enter into agency cross transactions (i.e., a transaction in 
which an adviser acts as a broker to both the advisory client and the 
opposite party to the transaction). Rule 206(3)-2 applies to all 
registered investment advisers. In relying on the rule, investment 
advisers must provide certain disclosures to their clients. Advisory 
clients can use the disclosures to monitor agency cross transactions 
that affect their advisory account. The Commission also uses the 
information required by Rule 206(3)-2 in connection with its investment 
adviser inspection program to ensure that advisers are in compliance 
with the rule. Without the information collected under the rule, 
advisory clients would not have information necessary for monitoring 
their adviser's handling of their accounts and the Commission would be 
less efficient and effective in its inspection program.
    The information requirements of the rule consist of the following: 
(1) prior to obtaining the client's consent, appropriate disclosure 
must be made to the client as to the practice of, and the conflicts of 
interest involved in, agency cross transactions; (2) at or before the 
completion of any such transaction, the client must be furnished with a 
written confirmation containing specified information and offering to 
furnish upon request certain additional information; and (3) at least 
annually, the client must be furnished with a

[[Page 94784]]

written statement or summary as to the total number of transactions 
during the period covered by the consent and the total amount of 
commissions received by the adviser or its affiliated broker-dealer 
attributable to such transactions.
    The Commission estimates that approximately 362 respondents use the 
rule annually, necessitating about 65 responses per respondent each 
year, for a total of 23,530 responses. Each response requires an 
estimated 0.5 hours, for a total of 11,765 hours. The estimated average 
burden hours are made solely for the purposes of the Paperwork 
Reduction Act and are not derived from a comprehensive or 
representative survey or study of the cost of Commission rules and 
forms.
    This collection of information is found at (17 CFR 275.206(3)-2) 
and is necessary in order for the investment adviser to obtain the 
benefits of Rule 206(3)-2. The collection of information requirements 
under the rule is mandatory. Information subject to the disclosure 
requirements of Rule 206(3)-2 does not require submission to the 
Commission; and, accordingly, the disclosure pursuant to the rule is 
not kept confidential.
    Commission-registered investment advisers are required to maintain 
and preserve certain information required under Rule 206(3)-2 for five 
(5) years. The long-term retention of these records is necessary for 
the Commission's inspection program to ascertain compliance with the 
Advisers Act.
    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.
    The 30-day public comment period for this information collection 
request opens on December 2, 2024 and ends on December 30, 2024. View 
the full information request and submit comments at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202409-3235-006 or email 
comments to [email protected].

    Dated: November 22, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-27983 Filed 11-27-24; 8:45 am]
BILLING CODE 8011-01-P
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