80_FR_50215 80 FR 50056 - Proposed Collection; Comment Request

80 FR 50056 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request

Federal Register Volume 80, Issue 159 (August 18, 2015)

Page Range50056-50057
FR Document2015-20324

Federal Register, Volume 80 Issue 159 (Tuesday, August 18, 2015) 
[Federal Register Volume 80, Number 159 (Tuesday, August 18, 2015)]
[Notices]
[Pages 50056-50057]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-20324]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-562, OMB Control No. 3235-0624]

Proposed Collection; 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 R, Rule 701.

    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'') is soliciting comments on the 
existing collection of information provided for in Regulation R, Rule 
701 (17 CFR 247.701) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    Regulation R, Rule 701 requires a broker or dealer (as part of a 
written agreement between the bank and the broker or dealer) to notify 
the bank if the broker or dealer makes certain

[[Page 50057]]

determinations regarding the financial status of the customer, a bank 
employee's statutory disqualification status, and compliance with 
suitability or sophistication standards.
    The Commission estimates that brokers or dealers would, on average, 
notify 1,000 banks approximately two times annually about a 
determination regarding a customer's high net worth or institutional 
status or suitability or sophistication standing as well as a bank 
employee's statutory disqualification status. Based on these estimates, 
the Commission anticipates that Regulation R, Rule 701 would result in 
brokers or dealers making approximately 2,000 notifications to banks 
per year. The Commission further estimates (based on the level of 
difficulty and complexity of the applicable activities) that a broker 
or dealer would spend approximately 15 minutes per notice to a bank. 
Therefore, the estimated total annual third party disclosure burden for 
the requirements in Regulation R, Rule 701 is 500 \1\ hours for brokers 
or dealers.
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    \1\ (2000 notices x 15 minutes) = 30,000 minutes/60 minutes = 
500 hours.
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    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    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 OMB control number.
    Please direct your written comments to: 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: PRA_Mailbox@sec.gov.

    Dated: August 13, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-20324 Filed 8-17-15; 8:45 am]
 BILLING CODE 8011-01-P

50056 Federal Register / Vol. 80, No. 159 / Tuesday, August 18, 2015 / Notices Financial Group, Des Moines, IA 50392– from sections 12(d)(1)(A) and (B) of the exemption is consistent with the public 0300. Act. The requested Order would permit interest and the protection of investors. ADDRESSES: Diane L. Titus, Paralegal applicants to offer exchange-traded 7. Applicants submit that for the Specialist, or Dalia Osman Blass, managed funds. Because the relief reasons stated in the Reference Order: Assistant Chief Counsel, at (202) 551– requested is the same as the relief (1) With respect to the relief requested 6821 (Division of Investment granted by the Commission under the pursuant to section 6(c) of the Act, the Management, Chief Counsel’s Office). Reference Order and because the relief is appropriate, in the public Adviser has entered into, or anticipates interest and consistent with the SUPPLEMENTARY INFORMATION: The entering into, a licensing agreement protection of investors and the purposes following is a summary of the with Eaton Vance Management, or an fairly intended by the policy and application. The complete application affiliate thereof in order to offer provisions of the Act; (2) with respect to may be obtained via the Commission’s exchange-traded managed funds,2 the the relief request pursuant to section Web site by searching for the file Order would incorporate by reference 17(b) of the Act, the proposed number, or for an applicant using the the terms and conditions of the transactions are reasonable and fair and Company name box, at http:// Reference Order. do not involve overreaching on the part www.sec.gov/search/search.htm or by 5. Applicants request that the Order of any person concerned, are consistent calling (202) 551–8090. apply to the Initial Funds and to any with the policies of each registered Applicants other existing or future open-end investment company concerned and management investment company or consistent with the general purposes of 1. The Trust will be registered as an series thereof that: (a) Is advised by the the Act; and (3) with respect to the relief open-end management investment Adviser or any entity controlling, requested pursuant to section 12(d)(1)(J) company under the Act and is a controlled by, or under common control of the Act, the relief is consistent with statutory trust organized under the laws with the Adviser (any such entity the public interest and the protection of of Delaware. Applicants seek relief with included in the term ‘‘Adviser’’); and (b) investors. respect to a Fund (as defined below, and operates as an exchange-traded managed that Fund, the ‘‘Initial Fund’’). The By the Division of Investment fund as described in the Reference Management, pursuant to delegated portfolio positions of the Fund will Order; and (c) complies with the terms authority. consist of securities and other assets and conditions of the Order and of the Brent J. Fields, selected and managed by its Manager or Reference Order, which is incorporated Subadviser (as defined below) to pursue Secretary. by reference herein (each such company the Fund’s investment objective. [FR Doc. 2015–20326 Filed 8–17–15; 8:45 am] or series and Initial Fund, a ‘‘Fund’’).3 2. The Adviser, an Iowa corporation, BILLING CODE 8011–01–P 6. Section 6(c) of the Act provides that will be the investment adviser to the the Commission may exempt any Initial Fund. An Adviser (as defined person, security or transaction, or any below) will serve as investment adviser SECURITIES AND EXCHANGE class of persons, securities or to each Fund. The Adviser is, and any COMMISSION transactions, from any provisions of the other Adviser will be, registered as an Act, if and to the extent that such [SEC File No. 270–562, OMB Control No. investment adviser under the 3235–0624] exemption is necessary or appropriate Investment Advisers Act of 1940 in the public interest and consistent (‘‘Advisers Act’’). The Adviser and the Proposed Collection; Comment with the protection of investors and the Trust may retain one or more Request purposes fairly intended by the policy subadvisers (each a ‘‘Subadviser’’) to and provisions of the Act. Section 17(b) manage the portfolios of the Funds. Any of the Act authorizes the Commission to Subadviser will be registered, or not Upon Written Request, Copies Available exempt a proposed transaction from subject to registration, under the From: Securities and Exchange section 17(a) of the Act if evidence Advisers Act. Commission, Office of FOIA Services, establishes that the terms of the 3. The Distributor is a Washington 100 F Street NE., Washington, DC transaction, including the consideration corporation and a broker-dealer 20549–2736. to be paid or received, are reasonable registered under the Securities and fair and do not involve Extension: Exchange Act of 1934 and will act as the overreaching on the part of any person Regulation R, Rule 701. principal underwriter of Shares of the concerned, and the proposed Funds. Applicants request that the Notice is hereby given that, pursuant transaction is consistent with the requested relief apply to any distributor to the Paperwork Reduction Act of 1995 policies of the registered investment of Shares, whether affiliated or (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the company and the general purposes of unaffiliated with the Adviser (included Securities and Exchange Commission the Act. Section 12(d)(1)(J) of the Act in the term ‘‘Distributor’’). Any (‘‘Commission’’) is soliciting comments provides that the Commission may Distributor will comply with the terms on the existing collection of information exempt any person, security, or and conditions of the Order. provided for in Regulation R, Rule 701 transaction, or any class or classes of (17 CFR 247.701) under the Securities Applicants’ Requested Exemptive Relief persons, securities or transactions, from Exchange Act of 1934 (15 U.S.C. 78a et 4. Applicants seek the requested any provision of section 12(d)(1) if the seq.). The Commission plans to submit asabaliauskas on DSK5VPTVN1PROD with NOTICES Order under section 6(c) of the Act for 2 Eaton Vance Management has obtained patents this existing collection of information to an exemption from sections 2(a)(32), with respect to certain aspects of the Funds’ method the Office of Management and Budget 5(a)(1), 22(d) and 22(e) of the Act and of operation as exchange-traded managed funds. (‘‘OMB’’) for extension and approval. rule 22c–1 under the Act, under 3 All entities that currently intend to rely on the Regulation R, Rule 701 requires a sections 6(c) and 17(b) of the Act for an Order are named as applicants. Any other entity broker or dealer (as part of a written that relies on the Order in the future will comply exemption from sections 17(a)(1) and with the terms and conditions of the Order and of agreement between the bank and the 17(a)(2) of the Act, and under section the Reference Order, which is incorporated by broker or dealer) to notify the bank if the 12(d)(1)(J) of the Act for an exemption reference herein. broker or dealer makes certain VerDate Sep<11>2014 17:02 Aug 17, 2015 Jkt 235001 PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 E:\FR\FM\18AUN1.SGM 18AUN1

Federal Register / Vol. 80, No. 159 / Tuesday, August 18, 2015 / Notices 50057 determinations regarding the financial SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s status of the customer, a bank COMMISSION Statement of the Purpose of, and the employee’s statutory disqualification Statutory Basis for, the Proposed Rule status, and compliance with suitability [Release No. 34–75676 ; File No. SR–BOX– Change or sophistication standards. 2015–28] The Commission estimates that 1. Purpose brokers or dealers would, on average, Self-Regulatory Organizations; BOX The Exchange proposes to amend the notify 1,000 banks approximately two Options Exchange LLC; Notice of Fee Schedule for trading on BOX to times annually about a determination specify that an Exchange Participant Filing and Immediate Effectiveness of regarding a customer’s high net worth or may request that the Exchange aggregate a Proposed Rule Change To Amend institutional status or suitability or their eligible activity with activity of the Fee Schedule affiliates for purposes of charges or sophistication standing as well as a bank employee’s statutory August 12, 2015. credits based on volume. The proposed disqualification status. Based on these rule change is based on NYSE Arca, estimates, the Commission anticipates Pursuant to Section 19(b)(1) of the Inc.’s (‘‘NYSE Arca’’) Schedule of Fees that Regulation R, Rule 701 would result Securities Exchange Act of 1934 (the and Charges for Exchange Services, in brokers or dealers making ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 NASDAQ Stock Market LLC approximately 2,000 notifications to notice is hereby given that on August 6, (‘‘NASDAQ’’) Rule 7027, NASDAQ banks per year. The Commission further 2015, BOX Options Exchange LLC (the Options Market LLC (‘‘NOM’’) Rules at estimates (based on the level of ‘‘Exchange’’ or ‘‘BOX’’) filed with the Chapter XV, and the NASDAQ OMX difficulty and complexity of the Securities and Exchange Commission PHLX LLC (‘‘PHLX’’) Pricing Schedule.3 applicable activities) that a broker or (the ‘‘SEC’’ or ‘‘Commission’’) the As proposed, for purposes of applying dealer would spend approximately 15 proposed rule change as described in any provision of the Exchange’s Fee minutes per notice to a bank. Therefore, Items I and II below, which Items have Schedule where the charge assessed, or the estimated total annual third party been prepared by the Exchange. The credit provided, by the Exchange disclosure burden for the requirements Commission is publishing this notice to depends on the volume of a in Regulation R, Rule 701 is 500 1 hours solicit comments on the proposed rule Participant’s activity, a Participant may for brokers or dealers. change from interested persons. request that the Exchange aggregate its Written comments are invited on: (a) eligible activity with activity of Whether the proposed collection of I. Self-Regulatory Organization’s affiliates.4 The Exchange further information is necessary for the proper Statement of the Terms of Substance of proposes that a Participant requesting performance of the functions of the the Proposed Rule Change aggregation of eligible affiliate activity Commission, including whether the would be required to (1) certify to the The Exchange proposes to amend the Exchange the affiliate status of information shall have practical utility; (b) the accuracy of the Commission’s Fee Schedule to specify that affiliated Participants whose activity it seeks to estimates of the burden of the proposed Exchange Participants (or aggregate prior to receiving approval for collection of information; (c) ways to ‘‘Participants’’) may request that the aggregation, and (2) inform the enhance the quality, utility, and clarity Exchange aggregate its [sic] eligible Exchange immediately of any event that of the information to be collected; and activity with activity of the Participant’s causes an entity to cease being an (d) ways to minimize the burden of the affiliates for purposes of charges or affiliate. The Exchange would review collection of information on credits based on volume. The text of the available information regarding the respondents, including through the use proposed rule change is available from entities and reserves the right to request of automated collection techniques or the principal office of the Exchange, at additional information to verify the other forms of information technology. the Commission’s Public Reference affiliate status of an entity. As further Consideration will be given to Room and also on the Exchange’s 3 Effective March 18, 2015, NYSE Arca amended comments and suggestions submitted in Internet Web site at http:// its Schedule of Fees and Charges for Exchange writing within 60 days of this boxexchange.com. Services to specify that affiliated Exchange ETP publication. Holders may request that the Exchange aggregate its An agency may not conduct or II. Self-Regulatory Organization’s eligible activity with activity of the ETP Holder’s sponsor, and a person is not required to Statement of the Purpose of, and affiliates for purposes of Charges or Credits based respond to, a collection of information Statutory Basis for, the Proposed Rule on volume. See Securities Exchange Act Release Change No. 74604 (March 30, 2015), 80 FR 18270 (April 3, unless it displays a currently valid OMB 2015) (SR–NYSEArca–2015–20). Effective control number. December 1, 2014, NASDAQ amended Rule 7027 to Please direct your written comments In its filing with the Commission, the harmonize the treatment of aggregation of affiliate to: Pamela Dyson, Director/Chief self-regulatory organization included activity of affiliated members to be consistent with Information Officer, Securities and statements concerning the purpose of the rules governing NOM and PHLX. See Securities Exchange Act Release No. 72966 (Sept. 3, 2014), 79 Exchange Commission, c/o Remi Pavlik- and basis for the proposed rule change FR 53473 (Sept. 9, 2014) (SR–NASDAQ–2014–083). Simon, 100 F Street NE., Washington, and discussed any comments it received NOM and PHLX also amended their respective DC 20549, or send an email to: PRA_ on the proposed rule change. The text rules to harmonize the process by which it collects of these statements may be examined at information from its members for purposes of Mailbox@sec.gov. aggregating member activity between its equity and asabaliauskas on DSK5VPTVN1PROD with NOTICES Dated: August 13, 2015. the places specified in Item IV below. options markets. See Securities Exchange Act The self-regulatory organization has Release Nos. 72967 (Sept. 2, 2014), 79 FR 53471 Brent J. Fields, (Sept. 9, 2014) (SR–NASDAQ–2014–082) and 72969 prepared summaries, set forth in Secretary. (Sept. 3, 2014), 79 FR 53485 (Sept. 9, 2014) (SR– Sections A, B, and C below, of the most PHLX–2014–56). [FR Doc. 2015–20324 Filed 8–17–15; 8:45 am] significant aspects of such statements. 4 See Exhibit 5 for proposed language to be added BILLING CODE 8011–01–P to the Fee Schedule. The Exchange notes that this language is similar to that found in NYSE Arca’s 1 (2000 notices × 15 minutes) = 30,000 minutes/ 1 15 U.S.C. 78s(b)(1). Schedule of Fees and Charges for Exchange Services 60 minutes = 500 hours. 2 17 CFR 240.19b–4. and NASDAQ Rule 7027. VerDate Sep<11>2014 17:02 Aug 17, 2015 Jkt 235001 PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 E:\FR\FM\18AUN1.SGM 18AUN1


Document Created: 2015-12-15 12:04:45
Document Modified: 2015-12-15 12:04:45
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 50056 
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