Proposed Collection; Comment Request; Extension: Rule 0-4, 12838 [2025-04569]
Download as PDF
<![CDATA[
12838
Federal Register / Vol. 90, No. 52 / Wednesday, March 19, 2025 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.44
Vanessa A. Countryman,
Secretary.
[FR Doc. 2025–04510 Filed 3–18–25; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0633]
lotter on DSK11XQN23PROD with NOTICES1
Proposed Collection; Comment
Request; Extension: Rule 0–4
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.), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this collection of
information to the Office of
Management and Budget for extension
and approval.
Rule 0–4 (17 CFR 275.0–4) under the
Investment Advisers Act of 1940 (‘‘Act’’
or ‘‘Advisers Act’’) (15 U.S.C. 80b–1 et
seq.) entitled ‘‘General Requirements of
Papers and Applications,’’ prescribes
general instructions for filing an
application seeking exemptive relief
with the Commission.
The requirements of rule 0–4 are
designed to provide Commission staff
with the necessary information to assess
whether granting the Orders of
exemption are necessary and
appropriate in the public interest and
consistent with the protection of
investors and the intended purposes of
the Act.
Applicants for Orders under the
Advisers Act can include registered
investment advisers, affiliated persons
of registered investment advisers, and
entities seeking to avoid investment
adviser status, among others.
Commission staff estimates that it
receives up to 7 applications per year
submitted under rule 0–4 of the Act
seeking relief from various provisions of
the Advisers Act. Although each
application typically is submitted on
behalf of multiple applicants, the
applicants in the vast majority of cases
are related entities and are treated as a
single respondent for purposes of this
analysis. Most of the work of preparing
an application is performed by outside
44 17
CFR 200.30–3(a)(57).
VerDate Sep<11>2014
18:11 Mar 18, 2025
Jkt 265001
counsel and, therefore, imposes no
hourly burden on respondents. The cost
outside counsel charges applicants
depends on the complexity of the issues
covered by the application and the time
required. Based on conversations with
applicants and attorneys, the cost for
applications ranges from approximately
$15,259.94 for preparing a wellprecedented, routine (or otherwise less
involved) application to approximately
$238,761.88 to prepare a complex or
novel application. We estimate that the
Commission receives 1 of the most timeconsuming applications annually, 3
applications of medium difficulty, and 3
of the least difficult applications subject
to rule 0–4. This distribution gives a
total estimated annual cost burden to
applicants of filing all applications of
$440,387.38 [(1 × $238,761.88) + (3 ×
$51,948.56) + (3 × $15,259.94)]. The
estimate of annual cost burden is made
solely for the purposes of the Paperwork
Reduction Act and is not derived from
a comprehensive or even representative
survey or study of the costs of
Commission rules and forms.
The requirements of this collection of
information are required to obtain or
retain benefits. Responses 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 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
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 May 19, 2025.
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 Tanya Ruttenberg, 100
F Street NE, Washington, DC 20549 or
send an email to:
PaperworkReductionAct@sec.gov.
PO 00000
Frm 00143
Fmt 4703
Sfmt 4703
Dated: March 14, 2025.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2025–04569 Filed 3–18–25; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–102649; File No. SR–
CboeEDGX–2025–018]
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
of a Proposed Rule Change To Amend
Rule 19.3 To Permit the Listing of
Options on Commodity-Based Trust
Shares
March 13, 2025.
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 March 5,
2025, Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) 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
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX Options’’)
proposes to amend Rule 19.3 to permit
the listing of options on CommodityBased Trust Shares. 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/
options/regulation/rule_filings/edgx/),
at the Exchange’s Office of the
Secretary, 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
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\19MRN1.SGM
19MRN1
]]>Agencies
[Federal Register Volume 90, Number 52 (Wednesday, March 19, 2025)]
[Notices]
[Page 12838]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-04569]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0633]
Proposed Collection; Comment Request; Extension: Rule 0-4
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.), the Securities and Exchange
Commission (the ``Commission'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this collection of information to the Office of Management and
Budget for extension and approval.
Rule 0-4 (17 CFR 275.0-4) under the Investment Advisers Act of 1940
(``Act'' or ``Advisers Act'') (15 U.S.C. 80b-1 et seq.) entitled
``General Requirements of Papers and Applications,'' prescribes general
instructions for filing an application seeking exemptive relief with
the Commission.
The requirements of rule 0-4 are designed to provide Commission
staff with the necessary information to assess whether granting the
Orders of exemption are necessary and appropriate in the public
interest and consistent with the protection of investors and the
intended purposes of the Act.
Applicants for Orders under the Advisers Act can include registered
investment advisers, affiliated persons of registered investment
advisers, and entities seeking to avoid investment adviser status,
among others. Commission staff estimates that it receives up to 7
applications per year submitted under rule 0-4 of the Act seeking
relief from various provisions of the Advisers Act. Although each
application typically is submitted on behalf of multiple applicants,
the applicants in the vast majority of cases are related entities and
are treated as a single respondent for purposes of this analysis. Most
of the work of preparing an application is performed by outside counsel
and, therefore, imposes no hourly burden on respondents. The cost
outside counsel charges applicants depends on the complexity of the
issues covered by the application and the time required. Based on
conversations with applicants and attorneys, the cost for applications
ranges from approximately $15,259.94 for preparing a well-precedented,
routine (or otherwise less involved) application to approximately
$238,761.88 to prepare a complex or novel application. We estimate that
the Commission receives 1 of the most time-consuming applications
annually, 3 applications of medium difficulty, and 3 of the least
difficult applications subject to rule 0-4. This distribution gives a
total estimated annual cost burden to applicants of filing all
applications of $440,387.38 [(1 x $238,761.88) + (3 x $51,948.56) + (3
x $15,259.94)]. The estimate of annual cost burden is made solely for
the purposes of the Paperwork Reduction Act and is not derived from a
comprehensive or even representative survey or study of the costs of
Commission rules and forms.
The requirements of this collection of information are required to
obtain or retain benefits. Responses 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 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 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 May 19, 2025.
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 Tanya
Ruttenberg, 100 F Street NE, Washington, DC 20549 or send an email to:
[email protected].
Dated: March 14, 2025.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2025-04569 Filed 3-18-25; 8:45 am]
BILLING CODE 8011-01-P
