Proposed Collection; Comment Request; Extension: Rule 239, 105153-105154 [2024-30771]

Download as PDF ddrumheller on DSK120RN23PROD with NOTICES1 Federal Register / Vol. 89, No. 247 / Thursday, December 26, 2024 / Notices will be approximately 156,038 burden hours (975,240 multiplied by 0.16 hours/demonstration 6). Pre-Borrow Notification Requirement: As of December 29, 2023, there were 129 participants of NSCC that were registered as broker-dealers. If a participant of a registered clearing agency has a fail to deliver position in an equity security, the participant must determine whether the fail to deliver position was closed out in accordance with Rule 204(a). The Commission estimates that a participant of a registered clearing agency will have to make such determination with respect to approximately 65 equity securities per day.7 The Commission estimates a total of 2,113,020 potential notifications in accordance with Rule 204(c) across all participants per year (129 brokerdealer participants notifying brokerdealers once per day on 65 securities, multiplied by 252 trading days in 2023). The total estimated annual burden hours per year will be approximately 338,083 burden hours (2,113,020 multiplied by 0.16 hours/notification 8). Certification Requirement: As of quarter four 2023, there were 3,429 registered broker-dealers. Each of these broker-dealers may clear trades through a participant of a registered clearing agency. If the broker-dealer determines that it has not incurred a fail to deliver position on settlement date for a long or short sale in an equity security for which the participant has a fail to deliver position at a registered clearing agency or has purchased or borrowed securities in accordance with the prefail credit provision of Rule 204(e), the Commission estimates that a brokerdealer could have to make such determination with respect to approximately 2.44 securities per day.9 The Commission estimates that each such registered broker-dealer could have to certify to a participant that the broker-dealer has not incurred a fail to deliver position on settlement date for a long or short sale in an equity security for which the participant has a fail to deliver position at a registered clearing agency or, alternatively, that the brokerdealer is in compliance with the requirements set forth in the pre-fail credit provision of Rule 204(e), 2,108,424 times per year (3,429 registered broker-dealers certifying once per day on 2.44 securities, multiplied by 252 trading days in 2023). The total approximate estimated annual burden hours per year will be approximately supra note 4. supra note 5. 8 See supra note 4. 9 See supra note 2. 337,348 burden hours (2,108,424 multiplied by 0.16 hours/ certification 10). Pre-Fail Credit Demonstration Requirement: As of quarter four 2023, there were 3,429 registered brokerdealers. If a broker-dealer purchased or borrowed securities in accordance with the conditions specified in Rule 204(e) and determined that it had a net long position or net flat position on the settlement day for which the brokerdealer is claiming pre-fail credit, the Commission estimates that a brokerdealer could have to make such determination with respect to approximately 2.44 securities per day.11 The Commission estimates that the total number of times per year that such registered broker-dealers could have to demonstrate on their respective books and records that the broker-dealer has a net long position or net flat position on the settlement day for which the brokerdealer is claiming pre-fail credit is 2,108,424 times per year (3,429 registered broker-dealers checking for compliance once per day on 2.44 equity securities, multiplied by 252 trading days in 2023). The total approximate estimated annual burden hours per year will be 337,348 burden hours (2,108,424 multiplied by 0.16 hours/ demonstration 12). The total aggregate annual burden for the collection of information undertaken pursuant to all five provisions is thus 1,506,165 hours per year (337,348 + 156,038 + 338,083 + 337,348 + 337,348). 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 and comment on this information collection request at: https://www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=202410-3235-002 or send an email comment to MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov within 30 days of the day after publication of this notice by January 27, 2025. Dated: December 19, 2024. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2024–30770 Filed 12–23–24; 8:45 am] BILLING CODE 8011–01–P 6 See 10 See supra note 4. supra note 2. 12 See supra note 4. 7 See VerDate Sep<11>2014 19:37 Dec 23, 2024 11 See Jkt 265001 PO 00000 Frm 00189 Fmt 4703 Sfmt 4703 105153 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–637, OMB Control No. 3235–0687] Proposed Collection; Comment Request; Extension: Rule 239 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. Rule 239 (17 CFR 230.239) provides exemptions under the Securities Act of 1933 (15 U.S.C. 77a et seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) and the Trust Indenture Act of 1939 (U.S.C. 77aaa et seq.) for security-based swaps issued by certain clearing agencies satisfying certain conditions. The purpose of the information required by Rule 239 is to make certain information about security-based swaps that may be cleared by the registered or the exempt clearing agencies available to eligible contract participants and other market participants. We estimate that each registered or exempt clearing agency issuing security-based swaps in its function as a central counterparty will spend approximately 2 hours each time it provides or update the information in its agreements relating to security-based swaps or on its website. We estimate that each registered or exempt clearing agency will provide or update the information approximately 20 times per year. In addition, we estimate that 75% of the 2 hours per response (1.5 hours) is prepared internally by the clearing agency for a total annual reporting burden of 180 hours (1.5 hours per response × 20 times × 6 respondents). 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 E:\FR\FM\26DEN1.SGM 26DEN1 105154 Federal Register / Vol. 89, No. 247 / Thursday, December 26, 2024 / Notices 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 February 24, 2025. 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 Tanya Ruttenberg, 100 F Street, NE, Washington, DC 20549 or send an email to: PRA_Mailbox@ sec.gov. Dated: December 19, 2024. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2024–30771 Filed 12–23–24; 8:45 am] SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change to Amend Sections 140 and 141 of the NYSE American Company Guide to Amend the Original and Annual Listing Fees for Bonds and the Annual Fee for Stock Issues December 18, 2024 ddrumheller on DSK120RN23PROD with NOTICES1 Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on December 16, 2024, NYSE American LLC (‘‘NYSE American’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. 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 proposes to amend Sections 140 and 141 of the NYSE American Company Guide (the ‘‘Company Guide’) to (i) amend the original and annual listing fees for U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. VerDate Sep<11>2014 19:37 Dec 23, 2024 Jkt 265001 In its filing with the Commission, the self-regulatory organization 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 those 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 parts of such statements. 1. Purpose [Release No. 34–101967; File No. SR– NYSEAMER–2024–79] 2 15 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change BILLING CODE 8011–01–P 1 15 bonds, and (ii) amend the annual fee for stock issues. The proposed rule change is available on the Exchange’s website at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. The Exchange proposes to amend Sections 140 and 141 of the Company Guide to (i) amend the original and annual listing fees for bonds, and (ii) amend the annual fee for stock issues. The proposed changes will take effect from the beginning of the calendar year commencing on January 1, 2025. The Exchange currently charges an annual fee of $55,000 to issuers with 50 million or fewer shares outstanding and an annual fee of $75,000 to issuers with more than 50 million shares outstanding. The Exchange proposes to amend Section 141 of the Company Guide to increase the annual fee for issuers with 50 million or fewer shares outstanding to $60,000, and to increase the annual fee for issuers with more than 50 million shares outstanding to $80,000. The proposed increase to the annual fee for stock issues reflects increases in the costs the Exchange incurs in providing services to listed companies on an ongoing basis including in relation to company events and advocacy on behalf of listed companies, as well as increases in the costs of conducting its related regulatory activities. The Exchange proposes to make the aforementioned fee increases to better reflect the Exchange’s costs related to listing equity securities and the corresponding value of such listing to companies. The revised annual fee for stock issues will be applied in the same manner to all issuers with listed PO 00000 Frm 00190 Fmt 4703 Sfmt 4703 securities in the affected categories and the Exchange believes that the changes will not disproportionately affect any specific category of issuers. Pursuant to Section 140 of the Company Guide, the Exchange currently charges an original listing fee for bond issues equal to $100 per $1 million principal amount (or fraction thereof) and subject to a minimum original listing fee of $5,000 and a maximum fee of $10,000. Pursuant to Section 141 of the Company Guide, the Exchange currently charges an annual fee for listed bonds equal to $5,000. Similar to bonds listed on New York Stock Exchange LLC (‘‘NYSE’’), bonds that are listed on NYSE American trade on the NYSE Bonds platform. The quantitative original listing standards for bonds listed on the NYSE or NYSE American exchanges are nearly identical.4 Because bonds listed on NYSE American and NYSE are subject to the same quantitative listing standards (except as described in Footnote 3) and trade on the same NYSE Bonds platform, the Exchange believes it is appropriate to align the original and annual fee schedule for bonds listed on NYSE American with the schedule applicable to bonds listed on the NYSE 5 as the value of a bond listing is the same to an issuer regardless of the exchange on which the bond is listed. Accordingly, the Exchange proposes to amend Section 140 of the Company Guide to specify that listed bonds will be subject to a flat original listing fee of $25,000.6 The Exchange proposes to 4 See Section 104 of the Company Guide and Sections 102.03 and 103.05 of the NYSE Listed Company Manual. To qualify for original listing, both NYSE American and NYSE require that a bond (i) have an aggregate market value or principal amount of at least $5,000,000, and (ii) meet one of several enumerated issuer or bond rating statuses. With respect to convertible bonds, the NYSE requires that an issue have an aggregate market value or principal amount of no less than $10,000,000. NYSE American does not have a similar requirement. 5 See Section 902.08 of the NYSE Listed Company Manual. 6 Section 902.08 of the NYSE Listed Company Manual specifies that domestic listed debt of issuers exempt from registration under the Securities and Exchange Act of 1934 (‘‘Exempt Issuers’’) is not subject to any listing fee. Section 902.08 of the NYSE Listed Company Manual further specifies that bonds whose listing is transferred from another national securities exchange or that list in conjunction with their voluntary delisting from a regulated foreign exchange are not subject to initial listing fees or any annual listing fee in their first partial yar of listing. NYSE American does not currently list debt securities of Exempt Issuers so it does not propose to add this provision to its rule. Similarly, issuers have not historically transferred bonds to NYSE American from another national securities exchange or listed bonds on NYSE American in conjunction with their voluntary delisting from a regulated foreign exchange. Therefore, NYSE American does not propose to add this provision to its rules. E:\FR\FM\26DEN1.SGM 26DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 247 (Thursday, December 26, 2024)]
[Notices]
[Pages 105153-105154]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30771]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-637, OMB Control No. 3235-0687]


Proposed Collection; Comment Request; Extension: Rule 239

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.
    Rule 239 (17 CFR 230.239) provides exemptions under the Securities 
Act of 1933 (15 U.S.C. 77a et seq.), the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.) and the Trust Indenture Act of 1939 
(U.S.C. 77aaa et seq.) for security-based swaps issued by certain 
clearing agencies satisfying certain conditions. The purpose of the 
information required by Rule 239 is to make certain information about 
security-based swaps that may be cleared by the registered or the 
exempt clearing agencies available to eligible contract participants 
and other market participants. We estimate that each registered or 
exempt clearing agency issuing security-based swaps in its function as 
a central counterparty will spend approximately 2 hours each time it 
provides or update the information in its agreements relating to 
security-based swaps or on its website. We estimate that each 
registered or exempt clearing agency will provide or update the 
information approximately 20 times per year. In addition, we estimate 
that 75% of the 2 hours per response (1.5 hours) is prepared internally 
by the clearing agency for a total annual reporting burden of 180 hours 
(1.5 hours per response x 20 times x 6 respondents).
    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

[[Page 105154]]

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 February 24, 2025.
    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 Tanya Ruttenberg, 
100 F Street, NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: December 19, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-30771 Filed 12-23-24; 8:45 am]
BILLING CODE 8011-01-P

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