80 FR 17121 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 61 (March 31, 2015)

Page Range		17121-17122
FR Document		2015-07251

Federal Register, Volume 80 Issue 61 (Tuesday, March 31, 2015)

[Federal Register Volume 80, Number 61 (Tuesday, March 31, 2015)]
[Notices]
[Pages 17121-17122]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-07251]


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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:
    Regulation BTR, SEC File No. 270-521, OMB Control No. 3235-0579.

    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'') has submitted to the Office of Management 
and Budget this request for extension of the previously approved 
collection of information discussed below.
    Regulation Blackout Trade Restriction (``Regulation BTR'') (17 CFR 
245.100-245.104) clarifies the scope and application of Section 306(a) 
of the Sarbanes-Oxley Act of 2002 (``Act'') (15 U.S.C. 7244(a)). 
Section 306(a)(6) [15 U.S.C.7244(a)(6)] of the Act requires an issuer 
to provide timely notice to its directors and executive officers and to 
the Commission of the imposition of a blackout period that would 
trigger the statutory trading prohibition of Section 306(a)(1) [15 
U.S.C. 7244(a)(1)]. Section 306(a) of the Act prohibits any director or 
executive officer of an issuer of any equity security, directly or 
indirectly, from purchasing, selling or otherwise acquiring or 
transferring any equity security of that issuer during any blackout 
period with respect to such equity security, if the director or 
executive officer acquired the equity security in connection with his 
or her service or employment. The information provided under Regulation 
BTR is mandatory and is available to the public. Approximately 1,230 
issuers file Regulation BTR notices approximately 5 times a year for a 
total of 6,150 responses. We estimate that it takes approximately 2 
hours to prepare the blackout notice for a total annual burden of 2,460 
hours. The issuer prepares 75% of the 2,460 annual burden hours for a 
total reporting burden of (1,230 x 2 hrs x 0.75) 1,845 hours. In 
addition, we estimate that an issuer distributes a notice to five 
directors and executive officers at an estimated 5 minutes per notice 
(1,230 blackout period x 5 notices x 5 minutes) for a total reporting 
burden of 512 hours. The combined annual reporting burden is (1,845 
hours + 512 hours) 2,357 hours.

[[Page 17122]]

    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 public may view the 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 send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: March 25, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-07251 Filed 3-30-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 61 / Tuesday, March 31, 2015 / Notices 17121

competition not necessary or Comments may be submitted by any of SECURITIES AND EXCHANGE
appropriate in furtherance of the the following methods: COMMISSION
purpose of the Act. The proposed rule
Electronic Comments Submission for OMB Review;
change imposes certain informational
requirements on Clearing Members, in • Use the Commission’s Internet Comment Request
order to ensure that ICE Clear Europe is comment form (http://www.sec.gov/
in compliance with FATCA and Upon Written Request Copies Available
rules/sro.shtml) or
implementing U.K. regulations and From: Securities and Exchange
• Send an email to rule-comments@ Commission, Office of FOIA Services,
guidance. The amendments would sec.gov. Please include File Number SR–
apply to all Clearing Members. ICE Clear 100 F Street NE., Washington, DC
ICEEU–2015–006 on the subject line. 20549–2736.
Europe does not believe that the
amendments would adversely affect the Paper Comments Extension:
ability of Clearing Members or other Regulation BTR, SEC File No. 270–521,
• Send paper comments in triplicate OMB Control No. 3235–0579.
market participants generally to engage to Secretary, Securities and Exchange
in cleared transactions or to access Commission, 100 F Street NE., Notice is hereby given that, pursuant
clearing, adversely affect competition Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995
among Clearing Members, adversely (44 U.S.C. 3501 et seq.), the Securities
affect the market for clearing services or All submissions should refer to File
and Exchange Commission
limit market participants’ choices for Number SR–ICEEU–2015–006. This file
(‘‘Commission’’) has submitted to the
clearing transactions. To the extent that number should be included on the
Office of Management and Budget this
compliance with the amendments will subject line if email is used. To help the
request for extension of the previously
result in any additional cost for Clearing Commission process and review your
approved collection of information
Member or other market participants, comments more efficiently, please use
discussed below.
ICE Clear Europe believes that such cost only one method. The Commission will
post all comments on the Commission’s Regulation Blackout Trade Restriction
results from the requirements mandated (‘‘Regulation BTR’’) (17 CFR 245.100–
by FATCA and implementing Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the 245.104) clarifies the scope and
regulations. As a result, ICE Clear application of Section 306(a) of the
Europe does not believe that the submission, all subsequent
amendments, all written statements Sarbanes-Oxley Act of 2002 (‘‘Act’’) (15
proposed amendments will impose any U.S.C. 7244(a)). Section 306(a)(6) [15
burden on competition not appropriate with respect to the proposed rule
change that are filed with the U.S.C.7244(a)(6)] of the Act requires an
in furtherance of the purposes of the issuer to provide timely notice to its
Act. Commission, and all written
communications relating to the directors and executive officers and to
C. Self-Regulatory Organization’s proposed rule change between the the Commission of the imposition of a
Statement on Comments on the Commission and any person, other than blackout period that would trigger the
Proposed Rule Change Received From those that may be withheld from the statutory trading prohibition of Section
Members, Participants or Others public in accordance with the 306(a)(1) [15 U.S.C. 7244(a)(1)]. Section
provisions of 5 U.S.C. 552, will be 306(a) of the Act prohibits any director
Written comments relating to the
available for Web site viewing and or executive officer of an issuer of any
proposed rule change to the rules have
printing in the Commission’s Public equity security, directly or indirectly,
not been solicited or received. ICE Clear
Reference Room, 100 F Street NE., from purchasing, selling or otherwise
Europe will notify the Commission of
Washington, DC 20549, on official acquiring or transferring any equity
any written comments received by ICE
business days between the hours of security of that issuer during any
Clear Europe.
10:00 a.m. and 3:00 p.m. Copies of such blackout period with respect to such
III. Date of Effectiveness of the filings will also be available for equity security, if the director or
Proposed Rule Change and Timing for inspection and copying at the principal executive officer acquired the equity
Commission Action office of ICE Clear Europe and on ICE security in connection with his or her
The foregoing rule change has become Clear Europe’s Web site at https:// service or employment. The information
effective upon filing pursuant to Section www.theice.com/clear-europe/ provided under Regulation BTR is
19(b)(3)(A) of the Act 12 and Rule 19b– regulation. All comments received will mandatory and is available to the
4(f)(4)(i).13 At any time within 60 days be posted without change; the public. Approximately 1,230 issuers file
of the filing of the proposed rule change, Commission does not edit personal Regulation BTR notices approximately 5
the Commission summarily may identifying information from times a year for a total of 6,150
temporarily suspend such rule change if submissions. You should submit only responses. We estimate that it takes
it appears to the Commission that such information that you wish to make approximately 2 hours to prepare the
action is necessary or appropriate in the available publicly. All submissions blackout notice for a total annual
public interest, for the protection of should refer to File Number SR–ICEEU– burden of 2,460 hours. The issuer
investors, or otherwise in furtherance of 2015–006 and should be submitted on prepares 75% of the 2,460 annual
the purposes of the Act. or before April 21, 2015. burden hours for a total reporting
burden of (1,230 × 2 hrs × 0.75) 1,845
IV. Solicitation of Comments For the Commission, by the Division of hours. In addition, we estimate that an
asabaliauskas on DSK5VPTVN1PROD with NOTICES

Trading and Markets, pursuant to delegated issuer distributes a notice to five
Interested persons are invited to authority.14
submit written data, views, and directors and executive officers at an
Brent J. Fields, estimated 5 minutes per notice (1,230
arguments concerning the foregoing,
including whether the proposed rule Secretary. blackout period × 5 notices × 5 minutes)
change is consistent with the Act. [FR Doc. 2015–07258 Filed 3–30–15; 8:45 am] for a total reporting burden of 512
BILLING CODE 8011–01P hours. The combined annual reporting
12 15 U.S.C. 78s(b)(3)(A). burden is (1,845 hours + 512 hours)
13 17 CFR 240.19b–4(f)(4)(i). 14 17 CFR 200.30–3(a)(12). 2,357 hours.

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17122 Federal Register / Vol. 80, No. 61 / Tuesday, March 31, 2015 / Notices

An agency may not conduct or solicit comments on the proposed rule ADV 6 for a total of five (5) years.7 The
sponsor, and a person is not required to change from interested persons. calculation of a Contract Equivalent
respond to, a collection of information depends on the type of account that
I. Self-Regulatory Organization’s
unless it displays a currently valid sends the order flow to BOX, each of
Statement of the Terms of the Substance
control number. which has a predetermined ratio
of the Proposed Rule Change
The public may view the background assigned to it under the Program: Public
documentation for this information The Exchange is filing with the Customer (0.71), Market Maker (1.10),
collection at the following Web site, Securities and Exchange Commission Broker/Dealer (1.35) and Professional
www.reginfo.gov . Comments should be (‘‘Commission’’) a proposed rule change Customer (1.35). This predetermined
directed to: (i) Desk Officer for the to clarify certain statements made in ratio is then multiplied by the quantity
Securities and Exchange Commission, SR–BOX–2015–03, a rule change filed of options contracts executed by the
Office of Information and Regulatory by the Exchange on January 9, 2015, to Subscriber on BOX for the Subscriber’s
Affairs, Office of Management and implement an equity rights program (the own or customer account over a certain
Budget, Room 10102, New Executive ‘‘VPR Filing’’). There are no proposed period to determine the number of
Office Building, Washington, DC 20503, changes to any rule text. Contract Equivalents attributed to the
or by sending an email to: Shagufta_ II. Self-Regulatory Organization’s Subscriber for that period.
Ahmed@omb.eop.gov; and (ii) Pamela Statement of the Purpose of, and In describing how Contract
Dyson, Director/Chief Information Statutory Basis for, the Proposed Rule Equivalents are calculated in the VPR
Officer, Securities and Exchange Change Filing, the Exchange inadvertently used
Commission, c/o Remi Pavlik-Simon, the term ‘‘orders’’ to describe the option
In its filing with the Commission, the contracts executed by the Subscriber.
100 F Street NE., Washington, DC 20549
Exchange included statements Specifically, on pages 5 and 20–21 of 49
or send an email to: PRA_Mailbox@ concerning the purpose of and basis for
sec.gov. Comments must be submitted to of the VPR Filing, the Exchange
the proposed rule change and discussed explained that the Contract Equivalent
OMB within 30 days of this notice. any comments it received on the calculation for each of the four
Dated: March 25, 2015. proposed rule change. The text of these categories of account types would be
Brent J. Fields, statements may be examined at the based on the quantity of orders
Secretary. places specified in Item IV below. The executed, multiplied by the
[FR Doc. 2015–07251 Filed 3–30–15; 8:45 am] Exchange has prepared summaries, set predetermined ratio assigned to each
BILLING CODE 8011–01–P
forth in Sections A, B, and C below, of category. However, this description was
the most significant aspects of such intended to convey that, in calculating
statements. the Contract Equivalent for each of the
SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s four categories of account types under
COMMISSION Statement of the Purpose of, and the Program, the Exchange measures the
Statutory Basis for, the Proposed Rule number of contracts executed, and then
[Release No. 34–74576; File No. SR–BOX–
Change multiples the executed contracts by the
2015–16]
predetermined ratio for the appropriate
1. Purpose category. Accordingly, if a Subscriber
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of On January 9, 2015, the Exchange were to send a single order of 1,000
Filing and Immediate Effectiveness of filed the VPR Filing to implement an option contracts to the Exchange, and
a Proposed Rule Change To Clarify equity rights program (the ‘‘VPR all 1,000 option contracts are executed
Certain Statements Made in SR–BOX– Program’’).5 As provided on page 4 of 49 on BOX (assuming none are Excluded
2015–03, a Proposed Rule Change of the VPR Filing, Subscribers in the Member Contracts, as defined on pages
Filed by the Exchange on January 9, VPR Program have the right to acquire 9–10 of the VPR Filing), then the
2015 equity in, and receive distributions number of Contract Equivalents for that
from, BOX Holdings Group LLC Subscriber would be calculated by
March 25, 2015. (‘‘Holdings’’), an affiliate of the multiplying the 1,000 contracts (not the
Pursuant to Section 19(b)(1) under the Exchange, in exchange for the single order) by the predetermined ratio
Securities Exchange Act of 1934 (the achievement of certain order flow for the appropriate account type.
‘‘Act’’) 1 and Rule 19b–4 thereunder,2 volume commitment thresholds on the Furthermore, in describing how the
notice is hereby given that on March 16, Exchange over a period of five (5) years Contract Equivalent ratio was
2015, BOX Options Exchange LLC (the (and a nominal initial cash payment). determined for each of the four account
‘‘Exchange’’) filed with the Securities Specifically, each Volume Performance type categories under the Program, the
and Exchange Commission (the Right (‘‘VPR’’) issued to Subscribers Exchange noted, on pages 6, 16, and 20–
‘‘Commission’’) the proposed rule under the VPR Program includes an
6 The Industry ADV for a period is calculated by
change as described in Items I, II, and average daily transaction volume multiplying (i) two (2) times (ii) the quotient of (A)
III below, which Items have been commitment (‘‘VPR Volume the aggregate number of cleared U.S. options
prepared by the Exchange. The Commitment’’) with respect to transactions executed on a U.S. national exchange
Exchange filed the proposed rule change Qualifying Contract Equivalents (as or facility thereof in U.S. listed securities on trading
pursuant to Section 19(b)(3)(A)(ii) of the days during the period, as reported by the Options
defined on page 6 of 49 of the VPR Clearing Corporation (‘‘OCC’’), divided by (B) the
asabaliauskas on DSK5VPTVN1PROD with NOTICES

Act,3 and Rule 19b–4(f)(2) thereunder,4 Filing) equal to 0.0055% of the Industry number of trading days during the period. A
which renders the proposal effective ‘‘trading day’’ is generally any day on which the
upon filing with the Commission. The 5 See SR–BOX–2015–03. As noted in the VPR BOX market is open for business, subject to certain
Commission is publishing this notice to Filing, certain aspects of the Program require qualifications to be defined in the Members
changes to the company governance documents, Agreement. Certain industry transactions are
including the acquisition of equity ownership and excluded from the calculation of Industry ADV as
1 15 U.S.C. 78s(b)(1). any right related to such ownership, are contingent described on pages 9—10 of 49 of the VPR Filing.
2 17 CFR 240.19b–4. upon Commission approval of a separate company 7 Each VPR also includes 8.5 unvested new Class
3 15 U.S.C. 78s(b)(3)(A)(ii).
governance proposed rule change, which has yet to C Membership Units of Holdings. See page 5 of 49
4 17 CFR 240.19b–4(f)(2). be filed. of the VPR Filing.

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Document Created: 2015-12-18 11:47:54
Document Modified: 2015-12-18 11:47:54

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 17121