80 FR 41125 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 134 (July 14, 2015)

Page Range		41125-41125
FR Document		2015-17181

Federal Register, Volume 80 Issue 134 (Tuesday, July 14, 2015)

[Federal Register Volume 80, Number 134 (Tuesday, July 14, 2015)]
[Notices]
[Page 41125]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-17181]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of FOIA Services, Washington, DC 20549-
0213.

Extension:
    Rule 15c2-8. SEC File No. 270-421, OMB Control No. 3235-0481.

    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 (``OMB'') a request for approval of extension of the 
existing collection of information provided for in the following rule: 
Rule 15c2-8 (17 CFR 240.15c2-8), under the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.).
    Rule 15c2-8 requires broker-dealers to deliver preliminary and/or 
final prospectuses to certain people under certain circumstances. In 
connection with securities offerings generally, including initial 
public offerings (IPOs), the rule requires broker-dealers to take 
reasonable steps to distribute copies of the preliminary or final 
prospectus to anyone who makes a written request, as well as any 
broker-dealer who is expected to solicit purchases of the security and 
who makes a request. In connection with IPOs, the rule requires a 
broker-dealer to send a copy of the preliminary prospectus to any 
person who is expected to receive a confirmation of sale (generally, 
this means any person who is expected to actually purchase the security 
in the offering) at least 48 hours prior to the sending of such 
confirmation. This requirement is sometimes referred to as the ``48 
hour rule.''
    Additionally, managing underwriters are required to take reasonable 
steps to ensure that all broker-dealers participating in the 
distribution of or trading in the security have sufficient copies of 
the preliminary or final prospectus, as requested by them, to enable 
such broker-dealer to satisfy their respective prospectus delivery 
obligations pursuant to Rule 15c2-8, as well as Section 5 of the 
Securities Act of 1933.
    Rule 15c2-8 implicitly requires that broker-dealers collect 
information, as such collection facilitates compliance with the rule. 
There is no requirement to submit collected information to the 
Commission. In order to comply with the rule, broker-dealers 
participating in a securities offering must keep accurate records of 
persons who have indicated interest in an IPO or requested a 
prospectus, so that they know to whom they must send a prospectus.
    The Commission estimates that the time broker-dealers will spend 
complying with the collection of information required by the rule is 
11,900 hours for equity IPOs and 86,460 hours for other offerings. The 
Commission estimates that the total annualized cost burden (copying and 
postage costs) is $23,800,000 for IPOs and $3,458,400 for other 
offerings.
    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: July 7, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-17181 Filed 7-13-15; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 134 / Tuesday, July 14, 2015 / Notices 41125

Commission summarily may available publicly. All submissions trading in the security have sufficient
temporarily suspend such rule change if should refer to File Number SR– copies of the preliminary or final
it appears to the Commission that such NYSEMKT–2015–46 and should be prospectus, as requested by them, to
action is necessary or appropriate in the submitted on or before August 4, 2015. enable such broker-dealer to satisfy their
public interest, for the protection of For the Commission, by the Division of respective prospectus delivery
investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated obligations pursuant to Rule 15c2–8, as
the purposes of the Act. If the authority.16 well as Section 5 of the Securities Act
Commission takes such action, the Brent J. Fields, of 1933.
Commission shall institute proceedings Secretary.
to determine whether the proposed rule Rule 15c2–8 implicitly requires that
[FR Doc. 2015–17176 Filed 7–13–15; 8:45 am]
should be approved or disapproved. broker-dealers collect information, as
BILLING CODE 8011–01–P
such collection facilitates compliance
IV. Solicitation of Comments with the rule. There is no requirement
Interested persons are invited to to submit collected information to the
SECURITIES AND EXCHANGE
submit written data, views, and Commission. In order to comply with
COMMISSION
arguments concerning the foregoing, the rule, broker-dealers participating in
including whether the proposed rule Submission for OMB Review; a securities offering must keep accurate
change is consistent with the Act. Comment Request records of persons who have indicated
Comments may be submitted by any of interest in an IPO or requested a
the following methods: Upon Written Request, Copies Available
From: U.S. Securities and Exchange prospectus, so that they know to whom
Electronic Comments Commission, Office of FOIA Services, they must send a prospectus.
• Use the Commission’s Internet Washington, DC 20549–0213. The Commission estimates that the
comment form (http://www.sec.gov/ Extension: time broker-dealers will spend
rules/sro.shtml); or Rule 15c2–8. SEC File No. 270–421, OMB complying with the collection of
• Send an email to rule-comments@ Control No. 3235–0481. information required by the rule is
sec.gov. Please include File Number SR– Notice is hereby given that pursuant 11,900 hours for equity IPOs and 86,460
NYSEMKT–2015–46 on the subject line. to the Paperwork Reduction Act of 1995 hours for other offerings. The
Paper Comments (44 U.S.C. 3501 et seq.), the Securities Commission estimates that the total
and Exchange Commission annualized cost burden (copying and
• Send paper comments in triplicate
to Secretary, Securities and Exchange (‘‘Commission’’) has submitted to the postage costs) is $23,800,000 for IPOs
Commission, 100 F Street NE., Office of Management and Budget and $3,458,400 for other offerings.
Washington, DC 20549–1090. (‘‘OMB’’) a request for approval of An agency may not conduct or
extension of the existing collection of sponsor, and a person is not required to
All submissions should refer to File
information provided for in the respond to, a collection of information
Number SR–NYSEMKT–2015–46. This
following rule: Rule 15c2–8 (17 CFR
file number should be included on the under the PRA unless it displays a
240.15c2–8), under the Securities
subject line if email is used. To help the currently valid OMB control number.
Exchange Act of 1934 (15 U.S.C. 78a et
Commission process and review your The public may view background
seq.).
comments more efficiently, please use Rule 15c2–8 requires broker-dealers to documentation for this information
only one method. The Commission will deliver preliminary and/or final collection at the following Web site:
post all comments on the Commission’s prospectuses to certain people under www.reginfo.gov. Comments should be
Internet Web site (http://www.sec.gov/ certain circumstances. In connection directed to: (i) Desk Officer for the
rules/sro.shtml). Copies of the with securities offerings generally, Securities and Exchange Commission,
submission, all subsequent including initial public offerings (IPOs),
amendments, all written statements Office of Information and Regulatory
the rule requires broker-dealers to take Affairs, Office of Management and
with respect to the proposed rule reasonable steps to distribute copies of
change that are filed with the Budget, Room 10102, New Executive
the preliminary or final prospectus to Office Building, Washington, DC 20503,
Commission, and all written anyone who makes a written request, as
communications relating to the or by sending an email to: Shagufta_
well as any broker-dealer who is
proposed rule change between the Ahmed@omb.eop.gov; and (ii) Pamela
expected to solicit purchases of the
Commission and any person, other than security and who makes a request. In Dyson, Director/Chief Information
those that may be withheld from the connection with IPOs, the rule requires Officer, Securities and Exchange
public in accordance with the a broker-dealer to send a copy of the Commission, c/o Remi Pavlik-Simon,
provisions of 5 U.S.C. 552, will be preliminary prospectus to any person 100 F Street NE., Washington, DC
available for Web site viewing and who is expected to receive a 20549, or by sending an email to: PRA_
printing in the Commission’s Public confirmation of sale (generally, this Mailbox@sec.gov. Comments must be
Reference Room, 100 F Street NE., means any person who is expected to submitted to OMB within 30 days of
Washington, DC 20549–1090, on official actually purchase the security in the this notice.
business days between the hours of offering) at least 48 hours prior to the Dated: July 7, 2015.
10:00 a.m. and 3:00 p.m. Copies of the
asabaliauskas on DSK5VPTVN1PROD with NOTICES

sending of such confirmation. This
filing will also be available for Brent J. Fields,
requirement is sometimes referred to as
inspection and copying at the principal the ‘‘48 hour rule.’’ Secretary.
office of the Exchange. All comments Additionally, managing underwriters [FR Doc. 2015–17181 Filed 7–13–15; 8:45 am]
received will be posted without change; are required to take reasonable steps to BILLING CODE 8011–01–P
the Commission does not edit personal ensure that all broker-dealers
identifying information from participating in the distribution of or
submissions. You should submit only
information that you wish to make 16 17 CFR 200.30–3(a)(12).

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Document Created: 2018-02-23 09:19:33
Document Modified: 2018-02-23 09:19:33

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 41125