80 FR 78802 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 242 (December 17, 2015)

Page Range		78802-78803
FR Document		2015-31677

Federal Register, Volume 80 Issue 242 (Thursday, December 17, 2015)

[Federal Register Volume 80, Number 242 (Thursday, December 17, 2015)]
[Notices]
[Pages 78802-78803]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31677]


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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:
    Form T-4. OMB Control No. 3235-0107, SEC File No. 270-124.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities

[[Page 78803]]

and Exchange Commission (``Commission'') has submitted to the Office of 
Management and Budget this request for extension of the previously 
approved collections of information discussed below.
    Form T-4 (17 CFR 269.4) is a form used by an issuer to apply for an 
exemption under Section 304(c) (15 U.S.C 77ddd(c)) of the Trust 
Indenture Act of 1939 (15 U.S.C. 77aaa et seq.). Form T-4 is filed on 
occasion. The information required by Form T-4 is mandatory. This 
information is publicly available on EDGAR. Form T-4 takes 
approximately 5 hours per response to prepare and is filed by 
approximately 3 respondents. We estimate that 25% of the 5 hours per 
response (1 hour) is prepared by the filer for a total annual reporting 
burden of 3 hours (1 hour per response x 3 responses).
    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 control number.
    The public may view the 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 send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: December 11, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-31677 Filed 12-16-15; 8:45 am]
BILLING CODE 8011-01-P

78802 Federal Register / Vol. 80, No. 242 / Thursday, December 17, 2015 / Notices

perfecting the mechanism of a free and filing. However, Rule 19b–4(f)(6)(iii) 17 and Exchange Commission, 100 F Street
open market and national market permits the Commission to designate a NE., Washington, DC 20549–1090.
system. The proposed rule change also shorter time if such action is consistent All submissions should refer to File
is designed to support the principles of with the protection of investors and the Number SR–BATS–2015–112. This file
Section 11A(a)(1) 12 of the Act in that it public interest. The Exchange has asked number should be included on the
seeks to assure fair competition among the Commission to waive the 30-day subject line if email is used. To help the
brokers and dealers and among operative delay so that the proposal may Commission process and review your
exchange markets. Lastly, the Exchange become operative immediately upon comments more efficiently, please use
notes that the proposed amendments to filing. The Exchange stated that waiver only one method. The Commission will
the Aggressive Re-Route instruction of the operative delay will allow the post all comments on the Commission’s
previously existed on the Exchange as Exchange to immediately provide Users Internet Web site (http://www.sec.gov/
the RECYCLE routing option.13 with additional control over their orders rules/sro.shtml). Copies of the
in the context of a national market submission, all subsequent
B. Self-Regulatory Organization’s
system where quotations may lock or amendments, all written statements
Statement on Burden on Competition
cross orders posted to the BATS Book with respect to the proposed rule
The Exchange does not believe that and to facilitate executions on the change that are filed with the
the proposed rule change will result in Exchange consistent with User Commission, and all written
any burden on competition that is not instructions.18 The Commission communications relating to the
necessary or appropriate in furtherance believes the waiver of the operative proposed rule change between the
of the purposes of the Act. The delay is consistent with the protection Commission and any person, other than
Exchange believes that proposed of investors and the public interest. those that may be withheld from the
amendment to the Aggressive Re-Route Therefore, the Commission hereby public in accordance with the
functionality encourages competition by waives the operative delay and provisions of 5 U.S.C. 552, will be
increasing the likelihood of executions designates the proposal operative upon available for Web site viewing and
of orders that have been posted to the filing.19 printing in the Commission’s Public
Exchange. The increased likelihood of At any time within 60 days of the Reference Room, 100 F Street NE.,
an execution where the order is locked filing of the proposed rule change, the Washington, DC 20549 on official
by a quotation on a Trading Center Commission summarily may business days between the hours of
should attract additional order flow to temporarily suspend such rule change if 10:00 a.m. and 3:00 p.m. Copies of such
the Exchange. it appears to the Commission that such filing also will be available for
action is necessary or appropriate in the inspection and copying at the principal
C. Self-Regulatory Organization’s office of the Exchange. All comments
Statement on Comments on the public interest, for the protection of
investors, or otherwise in furtherance of received will be posted without change;
Proposed Rule Change Received From the Commission does not edit personal
Members, Participants, or Others the purposes of the Act. If the
Commission takes such action, the identifying information from
The Exchange has neither solicited Commission shall institute proceedings submissions. You should submit only
nor received written comments on the to determine whether the proposed rule information that you wish to make
proposed rule change. change should be approved or available publicly. All submissions
disapproved. should refer to File Number SR–BATS–
III. Date of Effectiveness of the 2015–112, and should be submitted on
Proposed Rule Change and Timing for IV. Solicitation of Comments or before January 7, 2016.
Commission Action
Interested persons are invited to For the Commission, by the Division of
Because the proposed rule change submit written data, views, and Trading and Markets, pursuant to delegated
does not (i) significantly affect the arguments concerning the foregoing, authority.20
protection of investors or the public including whether the proposed rule Robert W. Errett,
interest; (ii) impose any significant change is consistent with the Act. Deputy Secretary.
burden on competition; and (iii) become Comments may be submitted by any of [FR Doc. 2015–31683 Filed 12–16–15; 8:45 am]
operative for 30 days from the date on the following methods: BILLING CODE 8011–01–P
which it was filed, or such shorter time
as the Commission may designate, it has Electronic Comments
become effective pursuant to Section • Use the Commission’s Internet SECURITIES AND EXCHANGE
19(b)(3)(A) of the Act 14 and Rule 19b– comment form (http://www.sec.gov/ COMMISSION
4(f)(6) thereunder.15 rules/sro.shtml); or
A proposed rule change filed • Send an email to rule-comments@ Submission for OMB Review;
pursuant to Rule 19b–4(f)(6) under the sec.gov. Please include File Number SR– Comment Request
Act 16 normally does not become BATS–2015–112 on the subject line. Upon Written Request Copies Available
operative for 30 days after the date of its Paper Comments From: Securities and Exchange
Commission, Office of FOIA Services,
12 15 U.S.C. 78k–1(a)(1). • Send paper comments in triplicate
100 F Street NE., Washington, DC
13 See supra notes 6 and 8. to Brent J. Fields, Secretary, Securities
20549–2736.
asabaliauskas on DSK5VPTVN1PROD with NOTICES

14 15 U.S.C. 78s(b)(3)(A).
15 17 CFR 240.19b–4(f)(6). As required under Rule 17 17 CFR 240.19b–4(f)(6)(iii). Extension:
19b–4(f)(6)(iii), the Exchange provided the 18 The Exchange further stated that it will provide Form T–4. OMB Control No. 3235–0107,
Commission with written notice of its intent to file Members with reasonable advance notice of the SEC File No. 270–124.
the proposed rule change, along with a brief proposed rule change’s implementation date. Notice is hereby given that, pursuant
description and the text of the proposed rule 19 For purposes only of waiving the 30-day
change, at least five business days prior to the date
to the Paperwork Reduction Act of 1995
operative delay, the Commission has also
of filing of the proposed rule change, or such considered the proposed rule’s impact on (44 U.S.C. 3501 et seq.), the Securities
shorter time as designated by the Commission. efficiency, competition, and capital formation. See
16 17 CFR 240.19b–4(f)(6). 15 U.S.C. 78c(f). 20 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 80, No. 242 / Thursday, December 17, 2015 / Notices 78803

and Exchange Commission SECURITIES AND EXCHANGE COA (referred to as a ‘‘do-not-COA’’
(‘‘Commission’’) has submitted to the COMMISSION request) on an order-by-order basis.6
Office of Management and Budget this The Exchange believes that allowing
[Release No. 34–76622; File No. SR–CBOE–
request for extension of the previously Trading Permit Holders to make a ‘‘do-
2015–089]
approved collections of information not-COA’’ request on an order-by-order
discussed below. Self-Regulatory Organizations; basis will better allow them to make
Chicago Board Options Exchange, decisions regarding the handling of their
Form T–4 (17 CFR 269.4) is a form orders based on market conditions at the
used by an issuer to apply for an Incorporated; Order Granting Approval
of a Proposed Rule Change Relating to time they submit their orders.
exemption under Section 304(c) (15 A PAR operator will not be permitted
U.S.C 77ddd(c)) of the Trust Indenture Complex Orders as Modified by
Amendment No. 1 to override a Trading Permit Holder’s
Act of 1939 (15 U.S.C. 77aaa et seq.). ‘‘do-not-COA’’ order request; such
Form T–4 is filed on occasion. The December 11, 2015. orders, therefore, will enter the Complex
information required by Form T–4 is Order Book (‘‘COB’’).7 An order with a
I. Introduction
mandatory. This information is publicly ‘‘do-not-COA’’ request, however, would
available on EDGAR. Form T–4 takes On October 13, 2015, Chicago Board still be COA’d after it has rested on the
approximately 5 hours per response to Options Exchange, Incorporated (the COB pursuant to Interpretation and
prepare and is filed by approximately 3 ‘‘Exchange’’ or ‘‘CBOE’’) filed with the Policy .04.8
respondents. We estimate that 25% of Securities and Exchange Commission The Exchange notes that an order
the 5 hours per response (1 hour) is (the ‘‘Commission’’), pursuant to with a ‘‘do-not-COA’’ request will still
prepared by the filer for a total annual Section 19(b)(1) of the Securities have execution opportunities.9 The
Exchange Act of 1934 (‘‘Act’’ or Exchange explains that a ‘‘do-not-COA’’
reporting burden of 3 hours (1 hour per
‘‘Exchange Act’’) 1 and Rule 19b–4 order may execute automatically upon
response x 3 responses).
thereunder,2 a proposed rule change to: entry into the System against the leg
An agency may not conduct or (1) amend the rule provisions regarding markets or complex orders on the COB
sponsor, and a person is not required to the initiation of a complex order auction to the extent marketable (in accordance
respond to, a collection of information (‘‘COA’’), (2) add rule provisions with allocation rules set forth in Rule
unless it displays a currently valid regarding the impact of certain 6.53C).10 Further, the Exchange notes
control number. incoming orders and changes in the leg that an order on the opposite side of,
The public may view the background markets on an ongoing COA, and (3) and marketable against, a COA-eligible
documentation for this information update the rule text regarding who can order may trade against the COA-
submit complex orders. On October 26, eligible order if the System receives the
collection at the following Web site,
2015, the Exchange submitted order while a COA is ongoing.11
www.reginfo.gov. Comments should be Second, the Exchange proposes to add
Amendment No. 1 to the proposed rule
directed to: (i) Desk Officer for the subparagraphs 6.53C(d)(viii)(4) and (5)
change. The proposed rule change, as
Securities and Exchange Commission, to CBOE Rule 6.53C to describe
modified by Amendment No. 1, was
Office of Information and Regulatory additional circumstances that will cause
published for comment in the Federal
Affairs, Office of Management and Register on November 2, 2015.3 The a COA to end early.12 Proposed
Budget, Room 10102, New Executive Commission received no comments on subparagraph (d)(viii)(4) will provide
Office Building, Washington, DC 20503, the proposal. This order grants approval that if an order with a ‘‘do-not-COA’’
or by sending an email to: Shagufta_ of the proposed rule change, as request or an order that is not COA-
Ahmed@omb.eop.gov; and (ii) Pamela modified by Amendment No. 1. eligible is received prior to the
Dyson, Director/Chief Information expiration of the Response Time
Officer, Securities and Exchange II. Description of the Proposed Rule Interval for the original COA and is on
Commission, c/o Remi Pavlik-Simon, Change the same side of the market and at a
100 F Street NE., Washington, DC 20549 The Exchange proposes to amend price better than or equal to the starting
or send an email to: PRA_Mailbox@ CBOE Rule 6.53C and Interpretation and price, then the original COA will end.13
sec.gov. Comments must be submitted to Policy .04 regarding the initiation of a Proposed subparagraph (d)(viii)(5) will
OMB within 30 days of this notice. COA. Currently, Trading Permit Holders provide that if the leg markets were not
and PAR operators must affirmatively marketable against a COA-eligible order
Dated: December 11, 2015. when the order entered the System (and
request that their incoming two-legged
Robert W. Errett, COA-eligible orders be COA’d.4 The thus prior to the initiation of a COA) but
Deputy Secretary. Exchange proposes to amend CBOE became marketable with the COA-
[FR Doc. 2015–31677 Filed 12–16–15; 8:45 am] Rule 6.53C(d)(ii) to provide that such eligible order prior to the expiration of
BILLING CODE 8011–01–P COA-eligible orders (including orders the Response Time Interval, it will
submitted for electronic processing from
6 Id.
PAR) be COA’d by default.5 Under the
7 Id. In light of this proposed change, the
proposed rule, Trading Permit Holders
Exchange proposes to delete the language in
would be permitted to request that a Interpretation and Policy .04(a) that indicates
COA-eligible order with two legs not Trading Permit Holders may request that complex
asabaliauskas on DSK5VPTVN1PROD with NOTICES

orders be COA’d on a class-by-class basis, as it is
1 15 U.S.C. 78s(b)(1). no longer necessary. Id.
2 17 8 Id. at 67458.
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 76273 9 Id.
10 Id.
(October 27, 2015), 80 FR 67457 (‘‘Notice’’).
4 See Notice, supra 3, at 67457. 11 Id.

5 Id. The Exchange represents that all Trading 12 Id. The proposed rule change makes

Permit Holders have requested that all of their corresponding changes to the heading and
COA-eligible orders with two legs process through introductory paragraph of subparagraph (d)(viii). Id.
COA upon entry into the System. Id. 13 Id. at 67458–9.

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Document Created: 2018-03-02 09:18:29
Document Modified: 2018-03-02 09:18:29

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 78802