80 FR 45691 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 147 (July 31, 2015)
Federal Register Volume 80, Issue 147 (July 31, 2015)
| Page Range | 45691-45693 | |
| FR Document | 2015-18768 |
[Federal Register Volume 80, Number 147 (Friday, July 31, 2015)] [Notices] [Pages 45691-45693] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-18768] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75530; File No. SR-NYSEARCA-2015-66] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule July 27, 2015. Pursuant to section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on July 20, 2015, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C.78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE Arca Options Fee Schedule (``Fee Schedule''). The Exchange proposes to [[Page 45692]] implement the fee change effective August 1, 2015. The text of the proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, 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 self-regulatory organization 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this filing is to increase the number of issues a Market Maker may trade per Options Trading Permit (``OTP''). Currently, the number of issues a Market Maker may quote and trade in their assignment is based on how many OTPs the Market Maker has. A Market Maker may quote and trade up to 100 issues under its first OTP; up to 250 issues with a second OTP; up to 750 issues with a third OTP; and, with a fourth OTP a Market Maker may quote and trade all option issues on the Exchange.\4\ --------------------------------------------------------------------------- \4\ A Market Maker may trade any issue on the Exchange, but may only submit quotes in issues in the Market Maker assignment, however, in accordance with NYSE Arca Rule 6.35(i), at least 75% of a Market Maker's trading activity must be in the Market Maker's appointment. --------------------------------------------------------------------------- The Exchange is proposing to increase the number of issues ``covered'' by an OTP (i.e., the number of issues in which a Market Maker may quote and trade) as follows: 1st OTP Up to 175 option issues 2nd OTP Up to 350 option issues 3rd OTP Up to 1,000 option issues 4th OTP All option issues traded on the Exchange The Exchange is proposing to increase the number of covered issues per OTP to encourage Market Makers to quote and trade more issues based on the number of OTPs they currently have. By doing so, the Exchange believes it will provide an opportunity for more liquid markets and quote competition, which in turn will benefit all market participants. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act,\5\ in general, and furthers the objectives of sections 6(b)(4) and (5) of the Act,\6\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- The Exchange believes the increase in the number of issues covered by an OTP is reasonable, as it allows a Market Maker to trade a greater number of issues without incurring the expense of paying for additional OTPs. The proposed change is equitable and not unfairly discriminatory because it solely affects Market Makers because only Market Makers are required to have more than one OTP to correlate to the options issues in their Market Maker assignments. The Exchange believes that the proposed change is reasonable, equitable and not unfairly discriminatory because it is designed to encourage Market Makers to quote and trade additional issues, which would provide an opportunity for more liquid markets and quote competition, which in turn will benefit all market participants. For these reasons, the Exchange believes that the proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with section 6(b)(8) of the Act,\7\ the Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Instead, the Exchange believes that the proposed change would continue to encourage competition, including by providing more opportunities to quote and trade, thereby attracting additional liquidity to the Exchange, which would continue to make the Exchange a more competitive venue for, among other things, order execution and price discovery. The Exchange believes the proposed change would not unduly burden any particular group of market participants trading on the Exchange vis-[agrave]-vis another group, as the change solely impacts Market Makers. In addition, the Exchange believes that by expanded [sic] the number of covered issues per OTP would encourage increased liquidity and quote competition on the Exchange, which in turn would benefit all market participants. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues., [sic] In such an environment, the Exchange must continually review, and consider adjusting, its fees and credits to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to section 19(b)(3)(A) \8\ of the Act and subparagraph (f)(2) of Rule 19b- 4 \9\ thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78s(b)(3)(A). \9\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under section 19(b)(2)(B) \10\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: [[Page 45693]] Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NYSEARCA-2015-66 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSEARCA-2015-66. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Section, 100 F Street NE., Washington, DC 20549-1090 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available for inspection and copying at the NYSE's principal office and on its Internet Web site at www.nyse.com. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEARCA-2015-66 and should be submitted on or before August 21, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-18768 Filed 7-30-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 147 / Friday, July 31, 2015 / Notices 45691
regulatory requirements II. Discussion and Commission transactions and assuring the
(‘‘Procedures’’).4 Findings safeguarding of securities and funds
Specifically, OCC recently adopted Section 19(b)(2)(C) of the Act 7 directs which are in the custody or control of
the Procedures which, according to the Commission to approve a proposed OCC or for which it is responsible.
OCC, are designed to clarify for clearing rule change of a self-regulatory III. Conclusion
members and market participants the organization if it finds that the proposed
On the basis of the foregoing, the
manner in which OCC would resize the rule change is consistent with the
Commission finds that the proposal is
clearing fund on a monthly basis and, if requirements of the Act and the rules
consistent with the requirements of the
necessary, collect additional financial and regulations thereunder applicable to
Act and in particular with the
resources through intra-day margin calls such organization.
The Commission finds that the requirements of Section 17A of the
and intra-month increases of the Act 13 and the rules and regulations
clearing fund.5 According to OCC, proposed rule change is consistent with
Section 17A(b)(3)(F) of the Act 8 and thereunder.
under the Procedures, OCC continues to It is therefore ordered, pursuant to
size the clearing fund on the first Rule 17Ad–22(b)(3) of the Act.9 Rule
Section 19(b)(2) of the Act,14 that the
17Ad–22(b)(3) of the Act requires OCC
business day of each month, with the proposed rule change (SR–OCC–2015–
to establish, implement, maintain and
clearing fund size equal to a base 013) be, and it hereby is, approved.
enforce written policies and procedures
amount and an additional prudential For the Commission, by the Division of
reasonably designed to maintain
margin of safety determined by OCC, sufficient financial resources to Trading and Markets, pursuant to delegated
currently set at $1.8 billion. The base withstand, at a minimum, a default by authority.15
amount is equal to the peak five-day the participant family to which it has Robert W. Errett,
rolling average of clearing fund draws 6 the largest exposure in extreme but Deputy Secretary.
observed over the preceding three plausible market conditions.10 OCC is [FR Doc. 2015–18770 Filed 7–30–15; 8:45 am]
calendar months. Under the Procedures, amending Rule 1001(a) to reflect the BILLING CODE 8011–01–P
OCC must issue an intra-day margin call process by which OCC determines its
in the event that a projected draw on the clearing fund size on a monthly basis
clearing fund under stress tests and increases its clearing fund size on SECURITIES AND EXCHANGE
conducted by OCC exceeds 75% of the an intra-month basis. As stated above, COMMISSION
then-current size of OCC’s clearing OCC already adopted Procedures that [Release No. 34–75530; File No. SR–
fund. In addition, OCC must increase reflect this change.11 By amending Rule NYSEARCA–2015–66]
the size of the clearing fund intra-month 1001(a) to codify the Procedures, as
where a projected draw, after taking into described above, and thus permitting Self-Regulatory Organizations; NYSE
account intra-day margin collected OCC to take action pursuant to the Arca, Inc.; Notice of Filing and
under the Procedures, exceeds 90% of Procedures, OCC should be able to be Immediate Effectiveness of Proposed
the then-current size of the clearing more responsive to sudden increases in Rule Change Amending the NYSE Arca
fund. exposure and less sensitive to short-run Options Fee Schedule
According to OCC, it is amending reductions in exposure that could
inappropriately reduce the overall size July 27, 2015.
Rule 1001(a) to codify, in accordance Pursuant to section 19(b)(1) 1 of the
with the Procedures, the process by of the clearing fund. As a result, OCC
should be in a better position to Securities Exchange Act of 1934 (the
which such clearing fund size: (i) Is ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
determined and set on a monthly basis, maintain sufficient financial resources
to withstand, at a minimum, a default notice is hereby given that, on July 20,
and (ii) may be increased on an intra- 2015, NYSE Arca, Inc. (the ‘‘Exchange’’
month basis. OCC believes that the by the participant family to which it has
the largest exposure in extreme but or ‘‘NYSE Arca’’) filed with the
proposed rule change provides greater Securities and Exchange Commission
transparency to clearing members and plausible market conditions.
For these same reasons, OCC’s rule (the ‘‘Commission’’) the proposed rule
other market participants, because change as described in Items I, II, and
change is consistent with Section
OCC’s practices with regard to the III below, which Items have been
17A(b)(3)(F) of the Act,12 which
monthly sizing of the clearing fund and prepared by the self-regulatory
requires, in part, that the rules of a
OCC’s ability to increase the clearing organization. The Commission is
clearing agency be designed to promote
fund intra-month in accordance with publishing this notice to solicit
the prompt and accurate clearance and
the Procedures would be codified in the comments on the proposed rule change
settlement of securities transactions and
text of Rule 1001(a). from interested persons.
to assure the safeguarding of securities
and funds which are in the custody or I. Self-Regulatory Organization’s
4 See Securities Exchange Act Release No. 74980
(May 15, 2015), 80 FR 29364 (May 21, 2015) (SR–
control of the clearing agency or for Statement of the Terms of Substance of
OCC–2015–009) and Securities Exchange Act which it is responsible. By maintaining the Proposed Rule Change
Release No. 74981 (May 15, 2015), 80 FR 29367 financial resources in this manner, OCC
(May 21, 2015) (SR–OCC–2015–811). OCC recently is less likely to be subject to disruptions The Exchange proposes to amend the
amended the Procedures. See Securities Exchange
in its operations as a result of a default NYSE Arca Options Fee Schedule (‘‘Fee
Act Release No. 75255 (June 22, 2015), 80 FR 36869 Schedule’’). The Exchange proposes to
(June 26, 2015) (SR–OCC–2015–012) (changing the of a participant family, thereby
asabaliauskas on DSK5VPTVN1PROD with NOTICES
method by which certain dashboard reports are facilitating the prompt and accurate 13 In approving this proposed rule change, the
distributed). clearance and settlement of securities
5 Id. Commission has considered the proposed rule’s
6 According to OCC, clearing fund draws are the
impact on efficiency, competition, and capital
7 15 U.S.C. 78s(b)(2)(C). formation. See 15 U.S.C. 78c(f).
amounts that OCC would have been required to 8 15 U.S.C. 78q–1(b)(3)(F). 14 15 U.S.C. 78s(b)(2).
draw against the clearing fund under the daily 9 17 CFR 240.17Ad–22(b)(3). 15 17 CFR 200.30–3(a)(12).
idiosyncratic default and minor systemic default
10 Id. 1 15 U.S.C.78s(b)(1).
scenario calculations conducted by OCC (i.e., the
11 See supra note 4. 2 15 U.S.C. 78a.
amount of projected losses not covered by margin
deposits or deposits in lieu of margin). 12 15 U.S.C. 78q-1(b)(3)(F). 3 17 CFR 240.19b–4.
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![45692 Federal Register / Vol. 80, No. 147 / Friday, July 31, 2015 / Notices
implement the fee change effective markets and quote competition, which solely impacts Market Makers. In
August 1, 2015. The text of the proposed in turn will benefit all market addition, the Exchange believes that by
rule change is available on the participants. expanded [sic] the number of covered
Exchange’s Web site at www.nyse.com, issues per OTP would encourage
2. Statutory Basis
at the principal office of the Exchange, increased liquidity and quote
and at the Commission’s Public The Exchange believes that the competition on the Exchange, which in
Reference Room. proposed rule change is consistent with turn would benefit all market
section 6(b) of the Act,5 in general, and participants.
II. Self-Regulatory Organization’s furthers the objectives of sections 6(b)(4)
Statement of the Purpose of, and The Exchange notes that it operates in
and (5) of the Act,6 in particular,
Statutory Basis for, the Proposed Rule a highly competitive market in which
because it provides for the equitable
Change market participants can readily favor
allocation of reasonable dues, fees, and
competing venues., [sic] In such an
In its filing with the Commission, the other charges among its members,
environment, the Exchange must
self-regulatory organization included issuers and other persons using its
continually review, and consider
statements concerning the purpose of, facilities and does not unfairly
adjusting, its fees and credits to remain
and basis for, the proposed rule change discriminate between customers,
competitive with other exchanges. For
and discussed any comments it received issuers, brokers or dealers.
The Exchange believes the increase in the reasons described above, the
on the proposed rule change. The text Exchange believes that the proposed
of those statements may be examined at the number of issues covered by an OTP
is reasonable, as it allows a Market rule change reflects this competitive
the places specified in Item IV below. environment.
The Exchange has prepared summaries, Maker to trade a greater number of
set forth in sections A, B, and C below, issues without incurring the expense of C. Self-Regulatory Organization’s
of the most significant parts of such paying for additional OTPs. The Statement on Comments on the
statements. proposed change is equitable and not Proposed Rule Change Received From
unfairly discriminatory because it solely Members, Participants, or Others
A. Self-Regulatory Organization’s affects Market Makers because only
Statement of the Purpose of, and the Market Makers are required to have No written comments were solicited
Statutory Basis for, the Proposed Rule more than one OTP to correlate to the or received with respect to the proposed
Change options issues in their Market Maker rule change.
1. Purpose assignments. The Exchange believes that III. Date of Effectiveness of the
the proposed change is reasonable, Proposed Rule Change and Timing for
The purpose of this filing is to equitable and not unfairly
increase the number of issues a Market Commission Action
discriminatory because it is designed to
Maker may trade per Options Trading encourage Market Makers to quote and The foregoing rule change is effective
Permit (‘‘OTP’’). trade additional issues, which would upon filing pursuant to section
Currently, the number of issues a provide an opportunity for more liquid 19(b)(3)(A) 8 of the Act and
Market Maker may quote and trade in markets and quote competition, which subparagraph (f)(2) of Rule 19b–4 9
their assignment is based on how many in turn will benefit all market thereunder, because it establishes a due,
OTPs the Market Maker has. A Market participants. fee, or other charge imposed by the
Maker may quote and trade up to 100 For these reasons, the Exchange Exchange.
issues under its first OTP; up to 250 believes that the proposal is consistent
issues with a second OTP; up to 750 At any time within 60 days of the
with the Act. filing of such proposed rule change, the
issues with a third OTP; and, with a
fourth OTP a Market Maker may quote B. Self-Regulatory Organization’s Commission summarily may
and trade all option issues on the Statement on Burden on Competition temporarily suspend such rule change if
Exchange.4 In accordance with section 6(b)(8) of it appears to the Commission that such
The Exchange is proposing to increase the Act,7 the Exchange does not believe action is necessary or appropriate in the
the number of issues ‘‘covered’’ by an that the proposed rule change will public interest, for the protection of
OTP (i.e., the number of issues in which impose any burden on competition that investors, or otherwise in furtherance of
a Market Maker may quote and trade) as is not necessary or appropriate in the purposes of the Act. If the
follows: furtherance of the purposes of the Act. Commission takes such action, the
1st OTP Up to 175 option issues Instead, the Exchange believes that the Commission shall institute proceedings
2nd OTP Up to 350 option issues proposed change would continue to under section 19(b)(2)(B) 10 of the Act to
3rd OTP Up to 1,000 option issues encourage competition, including by determine whether the proposed rule
4th OTP All option issues traded on providing more opportunities to quote change should be approved or
the Exchange and trade, thereby attracting additional disapproved.
The Exchange is proposing to increase liquidity to the Exchange, which would IV. Solicitation of Comments
the number of covered issues per OTP continue to make the Exchange a more
to encourage Market Makers to quote competitive venue for, among other Interested persons are invited to
and trade more issues based on the things, order execution and price submit written data, views, and
asabaliauskas on DSK5VPTVN1PROD with NOTICES
number of OTPs they currently have. By discovery. The Exchange believes the arguments concerning the foregoing,
doing so, the Exchange believes it will proposed change would not unduly including whether the proposed rule
provide an opportunity for more liquid burden any particular group of market change is consistent with the Act.
participants trading on the Exchange Comments may be submitted by any of
4 A Market Maker may trade any issue on the
vis-à-vis another group, as the change the following methods:
Exchange, but may only submit quotes in issues in
the Market Maker assignment, however, in
5 15 U.S.C. 78f(b). 8 15 U.S.C. 78s(b)(3)(A).
accordance with NYSE Arca Rule 6.35(i), at least
6 15 U.S.C. 78f(b)(4) and (5). 9 17 CFR 240.19b–4(f)(2).
75% of a Market Maker’s trading activity must be
in the Market Maker’s appointment. 7 15 U.S.C. 78f(b)(8). 10 15 U.S.C. 78s(b)(2)(B).
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![Federal Register / Vol. 80, No. 147 / Friday, July 31, 2015 / Notices 45693
Electronic Comments SECURITIES AND EXCHANGE Form N–Q is mandatory. The
COMMISSION information provided by the form is not
• Use the Commission’s Internet kept confidential. An agency may not
comment form (http://www.sec.gov/ Submission for OMB Review; conduct or sponsor, and a person is not
rules/sro.shtml); or Comment Request required to respond to, a collection of
• Send an email to rule-comments@ Upon Written Request, Copies Available information unless it displays a
sec.gov. Please include File Number SR– From: Securities and Exchange currently valid control number.
NYSEARCA–2015–66 on the subject Commission, Office of FOIA Services, The public may view the background
line. 100 F Street NE., Washington, DC documentation for this information
20549–2736. collection at the following Web site,
Paper Comments www.reginfo.gov. Comments should be
Extension: directed to: (i) Desk Officer for the
• Send paper comments in triplicate Form N–Q SEC, File No. 270–519, OMB
Securities and Exchange Commission,
to Secretary, Securities and Exchange Control No. 3235–0578.
Office of Information and Regulatory
Commission, 100 F Street NE., Notice is hereby given that, pursuant Affairs, Office of Management and
Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 Budget, Room 10102, New Executive
(44 U.S.C. 3501 et seq.) (‘‘Paperwork Office Building, Washington, DC 20503,
All submissions should refer to File
Reduction Act’’), the Securities and or by sending an email to: Shagufta_
Number SR–NYSEARCA–2015–66. This Exchange Commission (the
file number should be included on the Ahmed@omb.eop.gov; and (ii) Pamela
‘‘Commission’’) has submitted to the Dyson, Director/Chief Information
subject line if email is used. To help the Office of Management and Budget a
Commission process and review your Officer, Securities and Exchange
request for extension of the previously Commission, c/o Remi Pavlik-Simon,
comments more efficiently, please use approved collection of information 100 F Street NE., Washington, DC 20549
only one method. The Commission will discussed below. or send an email to: PRA_Mailbox@
post all comments on the Commission’s Form N–Q (17 CFR 249.332 and sec.gov. Comments must be submitted to
Internet Web site (http://www.sec.gov/ 274.130) is a reporting form used by OMB within 30 days of this notice.
rules/sro.shtml). Copies of the registered management investment
submission, all subsequent companies, other than small business Dated: July 27, 2015.
amendments, all written statements investment companies registered on Robert W. Errett,
with respect to the proposed rule Form N–5 (‘‘funds’’), under Section Deputy Secretary.
change that are filed with the 30(b) of the Investment Company Act of [FR Doc. 2015–18766 Filed 7–30–15; 8:45 am]
Commission, and all written 1940 (15 U.S.C. 80a–1 et seq.) BILLING CODE 8011–01–P
communications relating to the (‘‘Investment Company Act’’) and
proposed rule change between the Sections 13(a) or 15(d) of the Securities
Commission and any person, other than Exchange Act of 1934 (15 U.S.C. 78a et SECURITIES AND EXCHANGE
seq.). Pursuant to Rule 30b1–5 under the COMMISSION
those that may be withheld from the
Investment Company Act, funds are
public in accordance with the Submission for OMB Review;
required to file quarterly reports with
provisions of 5 U.S.C. 552, will be the Commission on Form N–Q not more Comment Request
available for Web site viewing and than 60 days after the close of the first
printing in the Commission’s Public Upon Written Request, Copies Available
and third quarters of each fiscal year From: Securities and Exchange
Reference Section, 100 F Street NE., containing their complete portfolio
Washington, DC 20549–1090 on official Commission, Office of FOIA Services,
holdings. Additionally, fund 100 F Street NE., Washington, DC
business days between the hours of management is required to evaluate the
10:00 a.m. and 3:00 p.m. Copies of the 20549–2736.
effectiveness of the fund’s disclosure
filing will also be available for controls and procedures within the 90- Extension:
inspection and copying at the NYSE’s day period prior to the filing of a report Form N–3; SEC File No. 270–281, OMB
Control No. 3235–0316.
principal office and on its Internet Web on Form N–Q, and such report must
site at www.nyse.com. All comments also be signed and certified by the Notice is hereby given that, pursuant
received will be posted without change; fund’s principal executive and financial to the Paperwork Reduction Act of 1995
the Commission does not edit personal officers. (44 U.S.C. 3501 et seq.), the Securities
identifying information from We estimate that there are 11,348 and Exchange Commission (the
submissions. You should submit only funds required to file reports on Form ‘‘Commission’’) has submitted to the
information that you wish to make N–Q. Based on staff experience and Office of Management and Budget a
available publicly. All submissions conversations with industry request for extension of the previously
should refer to File Number SR– representatives, we estimate that it takes approved collection of information
approximately 26 hours per fund to discussed below.
NYSEARCA–2015–66 and should be
prepare reports on Form N–Q annually. The title for the collection of
submitted on or before August 21, 2015. information is ‘‘Form N–3 (17 CFR
Accordingly, we estimate that the total
For the Commission, by the Division of annual burden associated with Form 239.17a and 274.11b) under the
Trading and Markets, pursuant to delegated N–Q is 295,048 hours (26 hours per Securities Act of 1933 (15 U.S.C. 77)
asabaliauskas on DSK5VPTVN1PROD with NOTICES
authority.11 fund × 11,348 funds) per year. and under the Investment Company Act
Robert W. Errett, The estimates of average burden hours of 1940 (15 U.S.C. 80a), Registration
Deputy Secretary. are made solely for the purposes of the Statement of Separate Accounts
[FR Doc. 2015–18768 Filed 7–30–15; 8:45 am] Paperwork Reduction Act and are not Organized as Management Investment
derived from a comprehensive or even Companies.’’ Form N–3 is the form used
BILLING CODE 8011–01–P
representative survey or study of the by separate accounts offering variable
cost of Commission rules and forms. annuity contracts which are organized
11 17 CFR 200.30–3(a)(12). The collection of information under as management investment companies
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Document Created: 2015-12-15 12:59:39
Document Modified: 2015-12-15 12:59:39
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 45691 |
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