Submission for OMB Review; Comment Request; Extension: Rule 15c3-4, 104252-104253 [2024-30367]

Download as PDF 104252 Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Notices 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–BX–2024–057 and should be submitted on or before January 10, 2025. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–30354 Filed 12–19–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [OMB Control No. 3235–0785] ddrumheller on DSK120RN23PROD with NOTICES1 Submission for OMB Review; Comment Request; Extension: Rule 18a–10 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 18a–10 (17 CFR 240.18a–10), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Exchange Act Rule 18a–10 provides an alternative compliance mechanism pursuant to which stand-alone securitybased swap dealers (‘‘SBSDs’’) registered as a swap dealer that predominantly engages in a swaps business, and that meet certain conditions set forth in the rule, may elect to comply with the capital, margin, segregation, recordkeeping, and reporting requirements of the Commodity Exchange Act (‘‘CEA’’) and the U.S. Commodity Futures Trading 18 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 20:12 Dec 19, 2024 Jkt 265001 Commission’s (‘‘CFTC’’) rules in lieu of complying with SEC Rules 18a–1, and 18a–3 through 18a–9. Rule 18a–10 requires the firm to provide a written disclosure to its counterparties after it begins operating pursuant to the rule. Furthermore, Rule 18a–10 requires the firm to immediately notify the Commission and the CFTC in writing if it fails to meet a condition in the rule. There are currently two stand-alone SBSDs operating pursuant to the alternative compliance mechanism. The Commission estimates that these two stand-alone SBSDs will each spend 5 hours per year updating the disclosure language required under paragraph (b)(2) of Rule 18a–10, and that one of these stand-alone SBSDs will file the notice with the Commission required under paragraph (b)(3) of Rule 18a–10, which will impose a burden of 5 minutes per year. Consequnenty, the Commission estimates that the total hour burden under Rule 18a–9 is approximately 11 hours per year. Since the last approval of this information collection, the estimated total burden hours per year has decreased due to a decrease in the estimated number of respondents subject to the requirements of the Rule and as a result of certain initial burdens no longer applying. 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. Public Comment Instructions: The 30day public comment period for this information collection request closes at the end of the day on January 21, 2025. The public may view the full information request and submit comments at https://www.reginfo.gov/ public/do/PRAViewICR?ref_ nbr=202409-3235-002 or email comments to MBX.OMB.OIRA.SEC_ desk_officer@omb.eop.gov. Dated: December 16, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–30366 Filed 12–19–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–441, OMB Control No. 3235–0497] Submission for OMB Review; Comment Request; Extension: Rule 15c3–4 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, PO 00000 Frm 00181 Fmt 4703 Sfmt 4703 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.) (‘‘PRA’’), 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 15c3–4 (17 CFR 240.15c3–4) (the ‘‘Rule’’) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 15c3–4 requires certain brokerdealers that are registered with the Commission as OTC derivatives dealers, or who compute their net capital charges under Appendix E to Rule 15c3–1 (17 CFR 240.15c3–1) (‘‘ANC firms’’), to establish, document, and maintain a system of internal risk management controls. In addition, security-based swap dealers (‘‘SBSDs’’) must comply with Rule 15c3–4 as if they were OTC derivatives dealers. The Rule sets forth the basic elements for an OTC derivatives dealer, an ANC firm, or an SBSD to consider and include when establishing, documenting, and reviewing its internal risk management control system, which is designed to, among other things, ensure the integrity of an OTC derivatives dealer’s, an ANC firm’s or an SBSD’s risk measurement, monitoring, and management process, to clarify accountability at the appropriate organizational level, and to define the permitted scope of the firm’s activities and level of risk. The Rule also requires that management of an OTC derivatives dealer, an ANC firm, or an SBSD must periodically review, in accordance with written procedures, the firm’s business activities for consistency with its risk management guidelines. The staff estimates that the average amount of time a new firm subject to Rule 15c3–4 will spend establishing and documenting its risk management control system is approximately 2,000 hours (666.666667 hours per year when annualized over three years) and that, on average, an existing firm subject to Rule 15c3–4 will spend approximately 200 hours each year to maintain (e.g., reviewing and updating) its risk management control system. Currently, seventeen firms are required to comply with Rule 15c3–4. The staff estimates that approximately six new additional firms may become subject to the requirements of Rule 15c3–4 within the next three years. Thus, the estimated annual burden would be 3,400 hours for the seventeen existing firms currently required to comply with Rule 15c3–4 to maintain their risk management control E:\FR\FM\20DEN1.SGM 20DEN1 Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Notices systems,1 4,000 hours for the six new firms to establish and document their risk management control systems,2 and 1,200 hours for the six new firms to maintain their risk management control systems.3 Accordingly, the staff estimates the total annual burden associated with Rule 15c3–4 for the 23 respondents (seventeen existing respondents and six new respondents) will be approximately 8,600 hours per year. The records required to be made pursuant to the Rule and the results of the periodic reviews conducted under paragraph (d) of Rule 15c3–4 must be preserved under Rule 17a–4 of the Exchange Act (17 CFR 240.17a–4) for a period of not less than three years, the first two years in an easily accessible place. The Commission will not generally publish or make available to any person notices or reports received pursuant to the Rule. The statutory basis for the Commission’s refusal to disclose such information to the public is the exemption contained in section (b)(4) of the Freedom of Information Act (5 U.S.C. 552), which essentially provides that the requirement of public dissemination does not apply to commercial or financial information which is privileged or confidential. 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. Public Comment Instructions: The 30day public comment period for this information collection request closes at the end of the day on January 21, 2025. The public may view the full information request and submit comments at https://www.reginfo.gov/ public/do/PRAViewICR?ref_ nbr=202409-3235-023 or email comments to MBX.OMB.OIRA.SEC_ desk_officer@omb.eop.gov. Dated: December 16, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–30367 Filed 12–19–24; 8:45 am] ddrumheller on DSK120RN23PROD with NOTICES1 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–101929; File No. SR– NYSEAMER–2024–61] Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Section 1003 of the NYSE American LLC Company Guide To Provide for the Suspension and Delisting of Any Company That: (i) Has Effected One or More Reverse Stock Splits Over the Prior Two-Year Period With a Cumulative Ratio of 200 Shares or More to One; or (ii) Has Effectuated a Reverse Stock Split and the Effectuation of Such Reverse Stock Split Results in the Company’s Security Falling Below Any of the Continued Listing Requirements of Section 1003 disapproved. The 45th day after publication of the notice for this proposed rule change is December 19, 2024. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change, so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates February 2, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–NYSEAMER–2024–61). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–30353 Filed 12–19–24; 8:45 am] December 16, 2024. On October 16, 2024, NYSE American LLC 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 amend Section 1003 of the NYSE American LLC Company Guide to provide for the suspension and delisting of any company that: (i) has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 200 shares or more to one; or (ii) has effectuated a reverse stock split and the effectuation of such reverse stock split results in the company’s security falling below any of the continued listing requirements of Section 1003. The proposed rule change was published for comment in the Federal Register on November 4, 2024.3 The Commission has received no comment letters on the proposed rule change. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission will either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–101919; File No. SR–Phlx– 2024–54] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Options 3, Section 13 Related to XND December 16, 2024. On October 18, 2024, Nasdaq PHLX LLC (‘‘Phlx’’ or the ‘‘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 amend Options 3, Section 13, Price Improvement XL (‘‘PIXL’’) to permit orders for the accounts of appointed market makers to be solicited for PIXL auctions in Nasdaq–100 Micro Index (‘‘XND’’) Options. The proposed rule change was published for comment in the Federal Register on November 6, 2024.3 The Commission has received no comments on the proposed rule change. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may 5 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 101488 (Oct. 31, 2024), 89 FR 88092. 4 15 U.S.C. 78s(b)(2). 6 17 1 15 hours × 17 firms) = 3,400. hours/3 years) × 6 firms) = 4,000. 3 (200 hours × 6 firms) = 1,200. 1 (200 2 ((2,000 VerDate Sep<11>2014 20:12 Dec 19, 2024 Jkt 265001 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 101457 (October 29, 2024), 89 FR 87661. 4 15 U.S.C. 78s(b)(2). 2 17 PO 00000 Frm 00182 Fmt 4703 104253 Sfmt 4703 E:\FR\FM\20DEN1.SGM 20DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 245 (Friday, December 20, 2024)]
[Notices]
[Pages 104252-104253]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30367]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-441, OMB Control No. 3235-0497]


Submission for OMB Review; Comment Request; Extension: Rule 15c3-
4

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.) (``PRA''), 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 
15c3-4 (17 CFR 240.15c3-4) (the ``Rule'') under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 15c3-4 requires certain broker-dealers that are registered 
with the Commission as OTC derivatives dealers, or who compute their 
net capital charges under Appendix E to Rule 15c3-1 (17 CFR 240.15c3-1) 
(``ANC firms''), to establish, document, and maintain a system of 
internal risk management controls. In addition, security-based swap 
dealers (``SBSDs'') must comply with Rule 15c3-4 as if they were OTC 
derivatives dealers. The Rule sets forth the basic elements for an OTC 
derivatives dealer, an ANC firm, or an SBSD to consider and include 
when establishing, documenting, and reviewing its internal risk 
management control system, which is designed to, among other things, 
ensure the integrity of an OTC derivatives dealer's, an ANC firm's or 
an SBSD's risk measurement, monitoring, and management process, to 
clarify accountability at the appropriate organizational level, and to 
define the permitted scope of the firm's activities and level of risk. 
The Rule also requires that management of an OTC derivatives dealer, an 
ANC firm, or an SBSD must periodically review, in accordance with 
written procedures, the firm's business activities for consistency with 
its risk management guidelines.
    The staff estimates that the average amount of time a new firm 
subject to Rule 15c3-4 will spend establishing and documenting its risk 
management control system is approximately 2,000 hours (666.666667 
hours per year when annualized over three years) and that, on average, 
an existing firm subject to Rule 15c3-4 will spend approximately 200 
hours each year to maintain (e.g., reviewing and updating) its risk 
management control system. Currently, seventeen firms are required to 
comply with Rule 15c3-4. The staff estimates that approximately six new 
additional firms may become subject to the requirements of Rule 15c3-4 
within the next three years. Thus, the estimated annual burden would be 
3,400 hours for the seventeen existing firms currently required to 
comply with Rule 15c3-4 to maintain their risk management control

[[Page 104253]]

systems,\1\ 4,000 hours for the six new firms to establish and document 
their risk management control systems,\2\ and 1,200 hours for the six 
new firms to maintain their risk management control systems.\3\ 
Accordingly, the staff estimates the total annual burden associated 
with Rule 15c3-4 for the 23 respondents (seventeen existing respondents 
and six new respondents) will be approximately 8,600 hours per year.
---------------------------------------------------------------------------

    \1\ (200 hours x 17 firms) = 3,400.
    \2\ ((2,000 hours/3 years) x 6 firms) = 4,000.
    \3\ (200 hours x 6 firms) = 1,200.
---------------------------------------------------------------------------

    The records required to be made pursuant to the Rule and the 
results of the periodic reviews conducted under paragraph (d) of Rule 
15c3-4 must be preserved under Rule 17a-4 of the Exchange Act (17 CFR 
240.17a-4) for a period of not less than three years, the first two 
years in an easily accessible place. The Commission will not generally 
publish or make available to any person notices or reports received 
pursuant to the Rule. The statutory basis for the Commission's refusal 
to disclose such information to the public is the exemption contained 
in section (b)(4) of the Freedom of Information Act (5 U.S.C. 552), 
which essentially provides that the requirement of public dissemination 
does not apply to commercial or financial information which is 
privileged or confidential.
    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.
    Public Comment Instructions: The 30-day public comment period for 
this information collection request closes at the end of the day on 
January 21, 2025. The public may view the full information request and 
submit comments at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202409-3235-023 or email comments to 
[email protected].

    Dated: December 16, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-30367 Filed 12-19-24; 8:45 am]
BILLING CODE 8011-01-P

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