80 FR 28021 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 94 (May 15, 2015)

Page Range		28021-28021
FR Document		2015-11728

Federal Register, Volume 80 Issue 94 (Friday, May 15, 2015)

[Federal Register Volume 80, Number 94 (Friday, May 15, 2015)]
[Notices]
[Page 28021]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-11728]


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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 15g-5; SEC File No. 270-348, OMB Control No. 3235-0394.

    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 15g-
5--Disclosure of Compensation of Associated Persons in Connection with 
Penny Stock Transactions--(17 CFR 240.15g-5) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 15g-5 requires brokers and dealers to disclose to customers 
the amount of compensation to be received by their sales agents in 
connection with penny stock transactions. The purpose of the rule is to 
increase the level of disclosure to investors concerning penny stocks 
generally and specific penny stock transactions.
    The Commission estimates that approximately 221 broker-dealers will 
spend an average of 87 hours annually to comply with the rule. Thus, 
the total compliance burden is approximately 19,245 burden-hours per 
year.
    Rule 15g-5 contains record retention requirements. Compliance with 
the rule is mandatory.
    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 within 30 days 
of this notice.

    Dated: May 11, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-11728 Filed 5-14-15; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 94 / Friday, May 15, 2015 / Notices 28021

homes, congressmen, schools, foreign www.reginfo.gov. Comments should be The text of the proposed rule change is
government. directed to: (i) Desk Officer for the provided below.
Securities and Exchange Commission, (additions are italicized; deletions are
EXEMPTIONS CLAIMED FOR THE SYSTEM:
Office of Information and Regulatory [bracketed])
None. Affairs, Office of Management and * * * * *
* * * * * Budget, Room 10102, New Executive
Date: May 12, 2015. Office Building, Washington, DC 20503 Chicago Board Options Exchange,
Martha P. Rico, or by sending an email to: Shagufta_ Incorporated Rules
For The Board Secretary to the Board. Ahmed@omb.eop.gov; and (ii) Pamela * * * * *
Dyson, Director/Chief Information
[FR Doc. 2015–11745 Filed 5–14–15; 8:45 am] Rule 6.79. Floor Broker Practices
Officer, Securities and Exchange
BILLING CODE 7905–01–P
Commission, c/o Remi Pavlik-Simon, (a) Liquidation or Reduction of Error
100 F Street NE., Washington, DC 20549 Account Positions. For a position
or by sending an email to PRA_ obtained as a result of a bona fide error,
SECURITIES AND EXCHANGE Mailbox@sec.gov. Comments must be a floor broker may reduce or liquidate
COMMISSION submitted within 30 days of this notice. a position in the floor broker’s error
Submission for OMB Review; Dated: May 11, 2015. account (‘‘error account position’’) in
Comment Request Robert W. Errett, accordance with this Rule, but any
Deputy Secretary. profit/loss from the liquidation or
Upon Written Request, Copies Available reduction belongs to the floor broker
[FR Doc. 2015–11728 Filed 5–14–15; 8:45 am]
From: Securities and Exchange (‘‘liquidating floor broker’’).
BILLING CODE 8011–01–P
Commission, Office of FOIA Services, A liquidating floor broker may
100 F Street NE., Washington, DC personally represent an order that will
20549–2736 liquidate or reduce the broker’s error
SECURITIES AND EXCHANGE
Extension: COMMISSION account position (‘‘liquidation order’’);
Rule 15g–5; SEC File No. 270–348, OMB however, a liquidating floor broker may
Control No. 3235–0394. [Release No. 34–74923; File No. SR–CBOE– not cross a liquidation order with a
2015–030] client’s order also represented by the
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995 liquidating floor broker, unless the
Self-Regulatory Organizations; liquidating floor broker either: (1) Prior
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Chicago Board Options Exchange,
Securities and Exchange Commission to executing the orders, the liquidating
Incorporated; Notice of Filing and floor broker informs the client of the
(‘‘Commission’’) has submitted to the Immediate Effectiveness of a Proposed
Office of Management and Budget broker’s intention to execute the client’s
Rule Change Related to Floor Broker order against an order for the floor
(‘‘OMB’’) a request for approval of Errors and the Use of Floor Broker
extension of the previously approved broker’s error account and the client
Error Accounts does not object; (2) the liquidating floor
collection of information provided for in
Rule 15g–5—Disclosure of May 11, 2015. broker sends the liquidation order to an
Compensation of Associated Persons in Pursuant to Section 19(b)(1) of the unassociated broker; or (3) the
Connection with Penny Stock Securities Exchange Act of 1934 liquidating floor broker sends the
Transactions—(17 CFR 240.15g–5) (‘‘Act’’),1 and Rule 19b–4 thereunder,2 client’s order to a PAR Official. For 1
under the Securities Exchange Act of notice is hereby given that on April 30, through 3 above, the client’s order must
1934 (15 U.S.C. 78a et seq.). 2015, Chicago Board Options Exchange, either be displayed in the relevant order
Rule 15g–5 requires brokers and Incorporated (the ‘‘Exchange’’ or book or announced in open outcry in
dealers to disclose to customers the ‘‘CBOE’’) filed with the Securities and accordance with Rule 6.74. An
amount of compensation to be received Exchange Commission (‘‘SEC’’ or unassociated broker for purposes of this
by their sales agents in connection with ‘‘Commission’’) the proposed rule rule is any broker who is not directly or
penny stock transactions. The purpose change as described in Items I and II indirectly controlling, controlled by, or
of the rule is to increase the level of below, which Items have been prepared under common control with the
disclosure to investors concerning by the Exchange. The Exchange filed the liquidating floor broker. After a floor
penny stocks generally and specific proposal as a ‘‘non-controversial’’ broker executes a liquidation order, the
penny stock transactions. proposed rule change pursuant to floor brokers must notify the Exchange
The Commission estimates that Section 19(b)(3)(A)(iii) of the Act 3 and in a form and manner prescribed by the
approximately 221 broker-dealers will Rule 19b–4(f)(6) thereunder.4 The Exchange via Regulatory Circular.
spend an average of 87 hours annually Commission is publishing this notice to (b) Erroneously Executed Orders.
to comply with the rule. Thus, the total solicit comments on the proposed rule Orders erroneously executed (e.g.,
compliance burden is approximately change from interested persons. executing a call order as a put or a buy
19,245 burden-hours per year. order as a sell) on the Exchange must
Rule 15g–5 contains record retention I. Self-Regulatory Organization’s clear in the error account of the floor
requirements. Compliance with the rule Statement of the Terms of Substance of broker that executed the erroneous
is mandatory. the Proposed Rule Change order, unless the erroneously executed
mstockstill on DSK4VPTVN1PROD with NOTICES

An agency may not conduct or The Exchange seeks to update its orders are nullified pursuant to a
sponsor, and a person is not required to rules related to floor broker errors and mutual agreement under Exchange
respond to, a collection of information the use of floor broker error accounts. Rules. It shall be considered conduct
under the PRA unless it displays a inconsistent with just and equitable
currently valid OMB control number. 1 15 U.S.C. 78s(b)(1). principals of trade and a violation of
The public may view background 2 17 CFR 240.19b–4. Rule 4.1 for a floor broker to give a trade
documentation for this information 3 15 U.S.C. 78s(b)(3)(A)(iii). acquired through an error to another
collection at the following Web site: 4 17 CFR 240.19b–4(f)(6). Trading Permit Holder or for a Trading

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Document Created: 2018-02-21 10:27:30
Document Modified: 2018-02-21 10:27:30

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 28021