80 FR 63628 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 202 (October 20, 2015)

Page Range		63628-63629
FR Document		2015-26514
Federal Register, Volume 80 Issue 202 (Tuesday, October 20, 2015)
[Federal Register Volume 80, Number 202 (Tuesday, October 20, 2015)]
[Notices]
[Pages 63628-63629]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-26514]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-641, OMB Control No. 3235-0685]


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of FOIA Services, 100 F Street NE., 
Washington, DC 20549-2736.

Extension:
    Rules 3a68-2 and 3a68-4(c).

    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 (``SEC'') 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 the following rules: 
Rules 3a68-2 and 3a68-4(c) under the Securities Exchange Act of 1934 
(15 U.S.C. 78a et seq.).
    Rule 3a68-2 creates a process for interested persons to request a 
joint interpretation by the SEC and the Commodity Futures Trading 
Commission (``CFTC'') (together with

[[Page 63629]]

the SEC, the ``Commissions'') regarding whether a particular instrument 
(or class of instruments) is a swap, a security-based swap, or both 
(i.e., a mixed swap). Under Rule 3a68-2, a person provides to the 
Commissions a copy of all material information regarding the terms of, 
and a statement of the economic characteristics and purpose of, each 
relevant agreement, contract, or transaction (or class thereof), along 
with that person's determination as to whether each such agreement, 
contract, or transaction (or class thereof) should be characterized as 
a swap, security-based swap, or both (i.e., a mixed swap). The 
Commissions also may request the submitting person to provide 
additional information.
    The SEC expects 25 requests pursuant to Rule 3a68-2 per year. The 
SEC estimates the total paperwork burden associated with preparing and 
submitting each request would be 20 hours to retrieve, review, and 
submit the information associated with the submission. This 20 hour 
burden is divided between the SEC and the CFTC, with 10 hours per 
response regarding reporting to the SEC and 10 hours of response 
regarding third party disclosure to the CFTC.\1\ The SEC estimates this 
would result in an aggregate annual burden of 500 hours (25 requests x 
20 hours/request).
---------------------------------------------------------------------------

    \1\ The burdens imposed by the CFTC are included in this 
collection of information.
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    The SEC estimates that the total costs resulting from a submission 
under Rule 3a68-2 would be approximately $12,000 for outside attorneys 
to retrieve, review, and submit the information associated with the 
submission. The SEC estimates this would result in aggregate costs each 
year of $300,000 (25 requests x 30 hours/request x $400).
    Rule 3a68-4(c) establishes a process for persons to request that 
the Commissions issue a joint order permitting such persons (and any 
other person or persons that subsequently lists, trades, or clears that 
class of mixed swap) to comply, as to parallel provisions only, with 
specified parallel provisions of either the Commodity Exchange Act 
(``CEA'') or the Securities Exchange Act of 1934 (``Exchange Act''), 
and related rules and regulations (collectively ``specified parallel 
provisions''), instead of being required to comply with parallel 
provisions of both the CEA and the Exchange Act.
    The SEC expects ten requests pursuant to Rule 3a68-4(c) per year. 
The SEC estimates that nine of these requests will have also been made 
in a request for a joint interpretation pursuant to Rule 3a68-2, and 
one will not have been. The SEC estimates the total burden for the one 
request for which the joint interpretation pursuant to 3a68-2 was not 
requested would be 30 hours, and the total burden associated with the 
other nine requests would be 20 hours per request because some of the 
information required to be submitted pursuant to Rule 3a68-4(c) would 
have already been submitted pursuant to Rule 3a68-2. The burden in both 
cases is evenly divided between the SEC and the CFTC.
    The SEC estimates that the total costs resulting from a submission 
under Rule 3a68-4(c) would be approximately $20,000 for the services of 
outside attorneys to retrieve, review, and submit the information 
associated with the submission of the one request for which a request 
for a joint interpretation pursuant to Rule 3a68-2 was not previously 
made (1 request x 50 hours/request x $400). For the nine requests for 
which a request for a joint interpretation pursuant to Rule 3a68-2 was 
previously made, the SEC estimates the total costs associated with 
preparing and submitting a party's request pursuant to Rule 3a68-4(c) 
would be $6,000 less per request because, as discussed above, some of 
the information required to be submitted pursuant to Rule 3a68-4(c) 
already would have been submitted pursuant to Rule 3a68-2. The SEC 
estimates this would result in an aggregate cost each year of $126,000 
for the services of outside attorneys (9 requests x 35 hours/request x 
$400).
    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: October 13, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-26514 Filed 10-19-15; 8:45 am]
 BILLING CODE 8011-01-P
63628 Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices

with the stock symbol GOOGL to allow action is consistent with the protection communications relating to the
for continued mini option trading on of investors and the public interest. proposed rule change between the
Google’s class A shares. The proposed The Exchange has asked the Commission and any person, other than
change will allow for continued benefit Commission to waive the 30-day those that may be withheld from the
to investors by providing them with operative delay so that the proposal may public in accordance with the
additional investment alternatives. become operative immediately upon provisions of 5 U.S.C. 552, will be
filing. The Commission believes that available for Web site viewing and
B. Self-Regulatory Organization’s waiving the 30-day operative delay is printing in the Commission’s Public
Statement on Burden on Competition consistent with the protection of Reference Room, 100 F Street NE.,
NASDAQ does not believe that the investors and the public interest, as it Washington, DC 20549 on official
proposed rule change will impose any will allow the Exchange to continue to business days between the hours of
burden on competition that is not list mini options on the Google Class A 10:00 a.m. and 3:00 p.m. Copies of such
necessary or appropriate in furtherance shares, now Alphabet’s Class A shares, filing also will be available for
of the purposes of the Act. The following Google’s reorganization. For inspection and copying at the principal
proposed change does not impose any this reason, the Commission designates office of the Exchange. All comments
burden on intra-market competition the proposed rule change to be operative received will be posted without change;
upon filing.12 the Commission does not edit personal
because it applies to all members and
At any time within 60 days of the identifying information from
member organizations uniformly. There
filing of the proposed rule change, the submissions. You should submit only
is no burden on inter-market Commission summarily may
competition because the Exchange is information that you wish to make
temporarily suspend such rule change if available publicly. All submissions
merely attempting to continue to permit it appears to the Commission that such
trading of GOOGL as a Mini Options, as should refer to File Number SR–
action is necessary or appropriate in the NASDAQ–2015–116, and should be
is the case today. As a result, there will public interest, for the protection of
be no substantive changes to the submitted on or before November 10,
investors, or otherwise in furtherance of 2015.
Exchange’s operations or its rules. the purposes of the Act.
For the Commission, by the Division of
C. Self-Regulatory Organization’s IV. Solicitation of Comments Trading and Markets, pursuant to delegated
Statement on Comments on the authority.13
Proposed Rule Change Received From Interested persons are invited to
submit written data, views, and Robert W. Errett,
Members, Participants, or Others
arguments concerning the foregoing, Deputy Secretary.
No written comments were either including whether the proposed rule [FR Doc. 2015–26515 Filed 10–19–15; 8:45 am]
solicited or received. change is consistent with the Act. BILLING CODE 8011–01–P
Comments may be submitted by any of
III. Date of Effectiveness of the
the following methods:
Proposed Rule Change and Timing for SECURITIES AND EXCHANGE
Commission Action Electronic Comments COMMISSION
• Use the Commission’s Internet
Because the proposed rule change [SEC File No. 270–641, OMB Control No.
comment form (http://www.sec.gov/ 3235–0685]
does not (i) significantly affect the
rules/sro.shtml); or
protection of investors or the public
• Send an email to rule-comments@ Submission for OMB Review;
interest; (ii) impose any significant
sec.gov. Please include File Number SR– Comment Request
burden on competition; and (iii) become
NASDAQ–2015–116 on the subject line.
operative for 30 days from the date on Upon Written Request, Copies Available
which it was filed, or such shorter time Paper Comments From: U.S. Securities and Exchange
as the Commission may designate if • Send paper comments in triplicate Commission, Office of FOIA Services,
consistent with the protection of to Brent J. Fields, Secretary, Securities 100 F Street NE., Washington, DC
investors and the public interest, the and Exchange Commission, 100 F Street 20549–2736.
proposed rule change has become NE., Washington, DC 20549–1090. Extension:
effective pursuant to Section 19(b)(3)(A) All submissions should refer to File Rules 3a68–2 and 3a68–4(c).
of the Act 8 and Rule 19b–4(f)(6) Number SR–NASDAQ–2015–116. This
thereunder.9 Notice is hereby given that pursuant
file number should be included on the to the Paperwork Reduction Act of 1995
A proposed rule change filed under subject line if email is used. To help the (44 U.S.C. 3501 et seq.), the Securities
Rule 19b–4(f)(6) 10 normally does not Commission process and review your and Exchange Commission (‘‘SEC’’) has
become operative for 30 days after the comments more efficiently, please use submitted to the Office of Management
date of filing. However, pursuant to only one method. The Commission will and Budget (‘‘OMB’’) a request for
Rule 19b–4(f)(6)(iii) 11 the Commission post all comments on the Commission’s approval of extension of the previously
may designate a shorter time if such Internet Web site (http://www.sec.gov/ approved collection of information
rules/sro.shtml). Copies of the provided for the following rules: Rules
8 15 U.S.C. 78s(b)(3)(A). submission, all subsequent 3a68–2 and 3a68–4(c) under the
9 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– amendments, all written statements Securities Exchange Act of 1934 (15
4(f)(6)(iii) requires the Exchange to give the with respect to the proposed rule
mstockstill on DSK4VPTVN1PROD with NOTICES

Commission written notice of the Exchange’s intent U.S.C. 78a et seq.).
to file the proposed rule change, along with a brief change that are filed with the Rule 3a68–2 creates a process for
description and text of the proposed rule change, Commission, and all written interested persons to request a joint
at least five business days prior to the date of filing interpretation by the SEC and the
of the proposed rule change, or such shorter time 12 For purposes only of waiving the 30-day
as designated by the Commission. The Commission Commodity Futures Trading
operative delay, the Commission has also
deems this requirement to have been met. considered the proposed rule’s impact on Commission (‘‘CFTC’’) (together with
10 17 CFR 240.19b–4(f)(6).
efficiency, competition, and capital formation. See
11 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f). 13 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 80, No. 202 / Tuesday, October 20, 2015 / Notices 63629

the SEC, the ‘‘Commissions’’) regarding not have been. The SEC estimates the Dated: October 13, 2015.
whether a particular instrument (or total burden for the one request for Robert W. Errett,
class of instruments) is a swap, a which the joint interpretation pursuant Deputy Secretary.
security-based swap, or both (i.e., a to 3a68–2 was not requested would be [FR Doc. 2015–26514 Filed 10–19–15; 8:45 am]
mixed swap). Under Rule 3a68–2, a 30 hours, and the total burden BILLING CODE 8011–01–P
person provides to the Commissions a associated with the other nine requests
copy of all material information would be 20 hours per request because
regarding the terms of, and a statement some of the information required to be SECURITIES AND EXCHANGE
of the economic characteristics and submitted pursuant to Rule 3a68–4(c) COMMISSION
purpose of, each relevant agreement, would have already been submitted [Release No. 34–76157; File No. SR–EDGA–
contract, or transaction (or class
pursuant to Rule 3a68–2. The burden in 2015–39]
thereof), along with that person’s
determination as to whether each such both cases is evenly divided between
the SEC and the CFTC. Self-Regulatory Organizations; EDGA
agreement, contract, or transaction (or Exchange, Inc.; Notice of Filing and
class thereof) should be characterized as The SEC estimates that the total costs Immediate Effectiveness of a Proposed
a swap, security-based swap, or both resulting from a submission under Rule Rule Change To Adopt Rule 3.20,
(i.e., a mixed swap). The Commissions 3a68–4(c) would be approximately Influencing or Rewarding Employees
also may request the submitting person $20,000 for the services of outside of Others, Concerning Gifts and
to provide additional information. attorneys to retrieve, review, and submit Gratuities in Relation to the Business
The SEC expects 25 requests pursuant the information associated with the of the Employer of the Recipient
to Rule 3a68–2 per year. The SEC submission of the one request for which
estimates the total paperwork burden a request for a joint interpretation October 15, 2015.
associated with preparing and Pursuant to Section 19(b)(1) of the
pursuant to Rule 3a68–2 was not
submitting each request would be 20 Securities Exchange Act of 1934 (the
previously made (1 request × 50 hours/
hours to retrieve, review, and submit the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
request × $400). For the nine requests notice is hereby given that on
information associated with the
submission. This 20 hour burden is for which a request for a joint September 30, 2015, EDGA Exchange,
divided between the SEC and the CFTC, interpretation pursuant to Rule 3a68–2 Inc. (the ‘‘Exchange’’ or ‘‘EDGA’’) filed
with 10 hours per response regarding was previously made, the SEC estimates with the Securities and Exchange
reporting to the SEC and 10 hours of the total costs associated with preparing Commission (‘‘Commission’’) the
response regarding third party and submitting a party’s request proposed rule change as described in
disclosure to the CFTC.1 The SEC pursuant to Rule 3a68–4(c) would be Items I, II, and III below, which Items
estimates this would result in an $6,000 less per request because, as have been prepared by the Exchange.
aggregate annual burden of 500 hours discussed above, some of the The Exchange has designated this
(25 requests × 20 hours/request). information required to be submitted proposal as a ‘‘non-controversial’’
The SEC estimates that the total costs pursuant to Rule 3a68–4(c) already proposed rule change pursuant to
resulting from a submission under Rule would have been submitted pursuant to Section 19(b)(3)(A) of the Act 3 and Rule
3a68–2 would be approximately $12,000 Rule 3a68–2. The SEC estimates this 19b–4(f)(6)(iii) thereunder,4 which
for outside attorneys to retrieve, review, would result in an aggregate cost each renders it effective upon filing with the
and submit the information associated year of $126,000 for the services of Commission. The Commission is
with the submission. The SEC estimates outside attorneys (9 requests × 35 hours/ publishing this notice to solicit
this would result in aggregate costs each request × $400). comments on the proposed rule change
year of $300,000 (25 requests × 30 from interested persons.
hours/request × $400). An agency may not conduct or
Rule 3a68–4(c) establishes a process sponsor, and a person is not required to I. Self-Regulatory Organization’s
for persons to request that the respond to, a collection of information Statement of the Terms of Substance of
Commissions issue a joint order under the PRA unless it displays a the Proposed Rule Change
permitting such persons (and any other currently valid OMB control number. The Exchange filed a proposal to
person or persons that subsequently The public may view background adopt Rule 3.20 to conform to the rules
lists, trades, or clears that class of mixed documentation for this information of the Financial Industry Regulatory
swap) to comply, as to parallel collection at the following Web site: Authority, Inc. (‘‘FINRA’’) for purposes
provisions only, with specified parallel www.reginfo.gov. Comments should be of an agreement between the Exchange
provisions of either the Commodity directed to: (i) Desk Officer for the and FINRA pursuant to Rule 17d–2
Exchange Act (‘‘CEA’’) or the Securities Securities and Exchange Commission, under the Act.5 The Exchange also
Exchange Act of 1934 (‘‘Exchange Act’’), Office of Information and Regulatory proposes to adopt Rule 3.20 to conform
and related rules and regulations Affairs, Office of Management and to the rules of BATS Exchange, Inc.
(collectively ‘‘specified parallel (‘‘BZX’’) and BATS Y-Exchange, Inc.
Budget, Room 10102, New Executive
provisions’’), instead of being required (‘‘BYX’’).6
Office Building, Washington, DC 20503, The text of the proposed rule change
to comply with parallel provisions of or by sending an email to: Shagufta_
both the CEA and the Exchange Act. is available at the Exchange’s Web site
Ahmed@omb.eop.gov; and (ii) Pamela
The SEC expects ten requests
Dyson, Director/Chief Information
mstockstill on DSK4VPTVN1PROD with NOTICES

1 15 U.S.C. 78s(b)(1).
pursuant to Rule 3a68–4(c) per year.
The SEC estimates that nine of these Officer, Securities and Exchange 2 17 CFR 240.19b–4.
requests will have also been made in a Commission, c/o Remi Pavlik-Simon, 3 15 U.S.C. 78s(b)(3)(A).

request for a joint interpretation 100 F Street NE., Washington, DC 4 17 CFR 240.19b–4(f)(6)(iii).
5 17 CFR 240.17d–2.
pursuant to Rule 3a68–2, and one will 20549, or by sending an email to: PRA_
6 See SR–BATS–2015–79 and SR–BYX–2015–43
Mailbox@sec.gov. Comments must be (filed September 30, 2015) (Notice of Filing and
1 The burdens imposed by the CFTC are included submitted to OMB within 30 days of Immediate Effectiveness to Amend Rule 3.22 to
in this collection of information. this notice. Conform to FINRA Rule 3220).

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Document Created: 2015-12-14 15:25:45
Document Modified: 2015-12-14 15:25:45
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 63628