80 FR 13660 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 50 (March 16, 2015)

Page Range		13660-13660
FR Document		2015-05984

Federal Register, Volume 80 Issue 50 (Monday, March 16, 2015)

[Federal Register Volume 80, Number 50 (Monday, March 16, 2015)]
[Notices]
[Page 13660]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-05984]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension: Rule 17a-5(c).
    SEC File No. 270-199, OMB Control No. 3235-0199.

    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 17a-
5(c), (17 CFR 240.17a-5(c)), under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 17a-5(c) generally requires broker-dealers who carry customer 
accounts to provide statements of the broker-dealer's financial 
condition to their customers. Paragraph (5) of Rule 17a-5(c) provides a 
conditional exemption from this requirement. A broker-dealer that 
elects to take advantage of the exemption must publish its statements 
on its Web site in a prescribed manner, and must maintain a toll-free 
number that customers can call to request a copy of the statements.
    The purpose of the Rule is to ensure that customers of broker-
dealers are provided with information concerning the financial 
condition of the firm that may be holding the customers' cash and 
securities. The Commission, when adopting the Rule in 1972, stated that 
the goal was to ``directly'' send a customer essential information so 
that the customer could ``judge whether his broker or dealer is 
financially sound.'' The Commission adopted the Rule in response to the 
failure of several broker-dealers holding customer funds and securities 
in the period between 1968 and 1971.
    The Commission estimates that approximately 213 broker-dealer 
respondents carrying approximately 115 million public customer accounts 
incur an average burden of 142,424 hours per year to comply with the 
Rule.
    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 Web site: www.reginfo.gov. Comments should 
be directed to: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC 20503, or by sending an email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to: [email protected]. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: March 10, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-05984 Filed 3-13-15; 8:45 am]
 BILLING CODE 8011-01-P

13660 Federal Register / Vol. 80, No. 50 / Monday, March 16, 2015 / Notices

change that are filed with the exemption from this requirement. A SECURITIES AND EXCHANGE
Commission, and all written broker-dealer that elects to take COMMISSION
communications relating to the advantage of the exemption must
proposed rule change between the publish its statements on its Web site in [Release No. 34–74465; File No. SR–ISE–
Commission and any person, other than a prescribed manner, and must maintain 2014–24]
those that may be withheld from the a toll-free number that customers can
public in accordance with the call to request a copy of the statements. Self-Regulatory Organizations;
provisions of 5 U.S.C. 552, will be International Securities Exchange,
available for Web site viewing and The purpose of the Rule is to ensure
LLC; Order Instituting Proceedings To
printing in the Commission’s Public that customers of broker-dealers are Determine Whether To Approve or
Reference Room, 100 F Street NE., provided with information concerning Disapprove a Proposed Rule Change
Washington, DC 20549, on official the financial condition of the firm that To Modify ISE’s Opening Process
business days between the hours of 10 may be holding the customers’ cash and
a.m. and 3 p.m. Copies of the filing also securities. The Commission, when March 10, 2015.
will be available for inspection and adopting the Rule in 1972, stated that I. Introduction
copying at the principal office of the the goal was to ‘‘directly’’ send a
Exchange. All comments received will customer essential information so that On November 19, 2014, the
be posted without change; the the customer could ‘‘judge whether his International Securities Exchange, LLC
Commission does not edit personal broker or dealer is financially sound.’’ (the ‘‘Exchange’’ or the ‘‘ISE’’) filed with
identifying information from The Commission adopted the Rule in the Securities and Exchange
submissions. You should submit only response to the failure of several broker- Commission (the ‘‘Commission’’),
information that you wish to make dealers holding customer funds and pursuant to Section 19(b)(1) of the
available publicly. All submissions securities in the period between 1968 Securities Exchange Act of 1934 (the
should refer to File Number SR–EDGX– ‘‘Act’’),1 and Rule 19b–4 thereunder,2 a
and 1971.
2015–12, and should be submitted on or proposed rule change to modify the
before April 6, 2015. The Commission estimates that opening process of the Exchange. The
approximately 213 broker-dealer proposed rule change was published for
For the Commission, by the Division of
Trading and Markets, pursuant to delegated respondents carrying approximately 115 comment in the Federal Register on
authority.22 million public customer accounts incur December 10, 2014.3 On January 23,
Brent J. Fields, an average burden of 142,424 hours per 2015, the Commission extended the
Secretary. year to comply with the Rule. time period within which to approve
[FR Doc. 2015–05859 Filed 3–13–15; 8:45 am] An agency may not conduct or the proposed rule change, disapprove
BILLING CODE 8011–01–P sponsor, and a person is not required to the proposed rule change, or institute
respond to, a collection of information proceedings to determine whether to
under the PRA unless it displays a disapprove the proposed rule change, to
SECURITIES AND EXCHANGE March 10, 2015.4 The Commission
currently valid OMB control number.
COMMISSION received no comment letters on the
The public may view background proposed rule change. This order
Submission for OMB Review; documentation for this information institutes proceedings under Section
Comment Request collection at the following Web site: 19(b)(2)(B) of the Act 5 to determine
www.reginfo.gov. Comments should be whether to approve or disapprove the
Upon Written Request, Copies Available directed to: (i) Desk Officer for the proposed rule change.
From: Securities and Exchange
Securities and Exchange Commission,
Commission, Office of FOIA Services, II. Description of the Proposal
Office of Information and Regulatory
100 F Street NE., Washington, DC
20549–2736. Affairs, Office of Management and The Exchange proposes to (1) clarify
Budget, Room 10102, New Executive and codify existing functionality within
Extension: Rule 17a–5(c). Office Building, Washington, DC 20503, the trading system regarding the
SEC File No. 270–199, OMB Control No.
or by sending an email to: Shagufta_ procedures for initiation of the opening
3235–0199.
Ahmed@omb.eop.gov; and (ii) Pamela process, and (2) modify the manner in
Notice is hereby given that pursuant Dyson, Director/Chief Information which the Exchange’s trading system
to the Paperwork Reduction Act of 1995 opens trading at the beginning of the
Officer, Securities and Exchange
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the day and after trading halts.
Commission, c/o Remi Pavlik-Simon,
Securities and Exchange Commission According to the Exchange, the
(‘‘Commission’’) has submitted to the 100 F Street NE., Washington, DC
20549, or by sending an email to: PRA_ proposed rule change would codify
Office of Management and Budget certain existing functionality within the
(‘‘OMB’’) a request for approval of Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of trading system that was not previously
extension of the previously approved described in the Exchange’s rule and
collection of information provided for in this notice.
would provide new procedures for
Rule 17a–5(c), (17 CFR 240.17a–5(c)), Dated: March 10, 2015. initiation of the opening rotation at the
under the Securities Exchange Act of Brent J. Fields, Exchange’s opening and reopening after
1934 (15 U.S.C. 78a et seq.).
Secretary. a trading halt. A more detailed
Rule 17a–5(c) generally requires
Rmajette on DSK2VPTVN1PROD with NOTICES

broker-dealers who carry customer [FR Doc. 2015–05984 Filed 3–13–15; 8:45 am]
1 15 U.S.C. 78s(b)(1).
accounts to provide statements of the BILLING CODE 8011–01–P
2 17 CFR 240.19b–4.
broker-dealer’s financial condition to 3 See Securities Exchange Act Release No. 73736
their customers. Paragraph (5) of Rule (December 4, 2014), 79 FR 73354 (‘‘Notice’’).
17a–5(c) provides a conditional 4 See Securities Exchange Act Release No. 74126

(January 23, 2015), 80 FR 4953 (January 29, 2015).
22 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2)(B).

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Document Created: 2018-02-21 09:37:47
Document Modified: 2018-02-21 09:37:47

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		80 FR 13660