81 FR 10691 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 40 (March 1, 2016)

Page Range		10691-10692
FR Document		2016-04348

Federal Register, Volume 81 Issue 40 (Tuesday, March 1, 2016)

[Federal Register Volume 81, Number 40 (Tuesday, March 1, 2016)]
[Notices]
[Pages 10691-10692]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-04348]


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SECURITIES AND EXCHANGE COMMISSION


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:
    Rule 19b-4(e) and Form 19b-4(e); SEC File No. 270-447, OMB 
Control No. 3235-0504.

    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'') is soliciting comments on the existing collection of 
information provided for in Rule 19b-4(e) (17 CFR 240.19b-4(e)) under 
the Securities Exchange Act of 1934 (15 U.S.C 78a et seq.) (the 
``Act''). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 19b-4(e) permits a self-regulatory organization (``SRO'') to 
list and trade a new derivative securities product without submitting a 
proposed rule change pursuant to Section 19(b) of the Act (15 U.S.C. 
78s(b)), so long as such product meets the criteria of Rule 19b-4(e) 
under the Act. However, in order for the Commission to maintain an 
accurate record of all new derivative securities products traded on the 
SROs, Rule 19b-4(e) requires an SRO to file a summary form, Form 19b-
4(e), to notify the Commission when the SRO begins trading a new 
derivative securities product that is not required to be submitted as a 
proposed rule change to the Commission. Form 19b-4(e) should be 
submitted within five business days after an SRO begins trading a new 
derivative securities product that is not required to be submitted as a 
proposed rule change. In addition, Rule 19b-4(e) requires an SRO to 
maintain, on-site, a copy of Form 19b-4(e) for a prescribed period of 
time.
    This collection of information is designed to allow the Commission 
to maintain an accurate record of all new derivative securities 
products traded on the SROs that are not deemed to be proposed rule 
changes and to determine whether an SRO has properly availed itself of 
the permission granted by Rule 19b-4(e). The Commission reviews SRO 
compliance with Rule 19b-4(e) through its routine inspections of the 
SROs.
    The respondents to the collection of information are SROs (as 
defined by the Act), all of which are national securities exchanges. As 
of January 2016, there are eighteen entities registered as national 
securities exchanges with the Commission. The Commission receives an 
average total of 2,088 responses per year, which corresponds to an 
estimated annual response burden of 2,088 hours. At an average hourly 
cost of $64, the aggregate related internal cost of compliance with 
Rule 19b-4(e) is $133,632 (2,088 burden hours multiplied by $64/hour).

[[Page 10692]]

    Compliance with Rule 19b-4(e) is mandatory. Information received in 
response to Rule 19b-4(e) shall not be kept confidential; the 
information collected is public information.
    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 
estimate of the burden of the collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information 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 under the PRA 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: [email protected].

    Dated: February 24, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-04348 Filed 2-29-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 40 / Tuesday, March 1, 2016 / Notices 10691

(‘‘Commission’’) is soliciting comments the staff estimates that broker-dealers Rule 19b–4(e) and Form 19b–4(e); SEC File
on the existing collection of information used electronic confirmations for No. 270–447, OMB Control No. 3235–
provided for in Rule 10b–10 (17 CFR approximately 35 percent of 0504.
240.10b–10) under the Securities and transactions. Based on these Notice is hereby given that pursuant
Exchange Act of 1934 (15 U.S.C. 78a et calculations, Commission staff estimates to the Paperwork Reduction Act of 1995
seq.). The Commission plans to submit that 10,791,239,035 paper confirmations (44 U.S.C. 3501 et seq.) the Securities
this existing collection of information to are mailed each year at a cost of and Exchange Commission
the Office of Management and Budget $6,151,006,250. Commission staff also (‘‘Commission’’) is soliciting comments
(‘‘OMB’’) for extension and approval. estimates that 5,810,667,173 wholly on the existing collection of information
Rule 10b–10 requires broker-dealers electronic confirmations are sent each provided for in Rule 19b–4(e) (17 CFR
to convey specified information to year at a cost of $2,266,160,197. 240.19b–4(e)) under the Securities
customers regarding their securities Accordingly, Commission staff Exchange Act of 1934 (15 U.S.C 78a et
transactions. This information includes estimates that the total annual cost seq.) (the ‘‘Act’’). The Commission plans
the date and time of the transaction, the associated with generating and to submit this existing collection of
identity and number of shares bought or delivering to investors the information information to the Office of
sold, and whether the broker-dealer acts required under Rule 10b–10 would be Management and Budget (‘‘OMB’’) for
as agent for the customer or as principal $8,417,166,447. extension and approval.
for its own account. Depending on Written comments are invited on: (a) Rule 19b–4(e) permits a self-
whether the broker-dealer acts as agent Whether the proposed collection of regulatory organization (‘‘SRO’’) to list
or principal, Rule 10b–10 requires the information is necessary for the proper and trade a new derivative securities
disclosure of commissions, as well as performance of the functions of the product without submitting a proposed
mark-up and mark-down information. Commission, including whether the rule change pursuant to Section 19(b) of
For transactions in debt securities, Rule information shall have practical utility; the Act (15 U.S.C. 78s(b)), so long as
10b–10 requires the disclosure of (b) the accuracy of the Commission’s such product meets the criteria of Rule
redemption and yield information. Rule estimates of the burden of the proposed 19b–4(e) under the Act. However, in
10b–10 potentially applies to all of the collection of information; (c) ways to order for the Commission to maintain an
approximately 4,183 firms registered enhance the quality, utility, and clarity accurate record of all new derivative
with the Commission that effect of the information collected; and (d) securities products traded on the SROs,
transactions for or with customers. ways to minimize the burden of the Rule 19b–4(e) requires an SRO to file a
Based on information provided by collection of information on summary form, Form 19b–4(e), to notify
registered broker-dealers to the respondents, including through the use the Commission when the SRO begins
Commission in FOCUS Reports, the of automated collection techniques or trading a new derivative securities
Commission staff estimates that on other forms of information technology. product that is not required to be
average, registered broker-dealers submitted as a proposed rule change to
Consideration will be given to
process approximately 1,383,492,184 the Commission. Form 19b–4(e) should
comments and suggestions submitted in
order tickets per month for transactions be submitted within five business days
writing within 60 days of this
for or with customers. Each order ticket after an SRO begins trading a new
publication.
representing a transaction effected for or derivative securities product that is not
An agency may not conduct or
with a customer results in one required to be submitted as a proposed
sponsor, and a person is not required to
confirmation. Therefore, the rule change. In addition, Rule 19b–4(e)
respond to, a collection of information
Commission staff estimates that requires an SRO to maintain, on-site, a
subject to the PRA unless it displays a
approximately 16,601,906,208 copy of Form 19b–4(e) for a prescribed
currently valid OMB control number.
confirmations are sent to customers period of time.
Please direct your written comments
annually. The confirmations required by This collection of information is
to: Pamela Dyson, Director/Chief
Rule 10b–10 are generally processed designed to allow the Commission to
through automated systems. It takes Information Officer, Securities and
maintain an accurate record of all new
approximately 30 seconds to generate Exchange Commission, c/o Remi Pavlik- derivative securities products traded on
and send a confirmation. Accordingly, Simon, 100 F Street NE., Washington, the SROs that are not deemed to be
the Commission staff estimates that DC 20549, or send an email to: PRA_ proposed rule changes and to determine
broker-dealers spend approximately Mailbox@sec.gov. whether an SRO has properly availed
138,349,218 hours per year complying Dated: February 24, 2016. itself of the permission granted by Rule
with Rule 10b–10. Robert W. Errett, 19b–4(e). The Commission reviews SRO
The amount of confirmations sent and Deputy Secretary. compliance with Rule 19b–4(e) through
the cost of sending each confirmation [FR Doc. 2016–04350 Filed 2–29–16; 8:45 am] its routine inspections of the SROs.
varies from firm to firm. Smaller firms BILLING CODE 8011–01–P
The respondents to the collection of
generally send fewer confirmations than information are SROs (as defined by the
larger firms because they effect fewer Act), all of which are national securities
transactions. The Commission staff SECURITIES AND EXCHANGE exchanges. As of January 2016, there are
estimates the costs of producing and COMMISSION eighteen entities registered as national
sending a paper confirmation, including securities exchanges with the
postage, to be approximately 57 cents. Commission. The Commission receives
asabaliauskas on DSK5VPTVN1PROD with NOTICES

Proposed Collection; Comment
The Commission staff also estimates Request an average total of 2,088 responses per
that the cost of producing and sending year, which corresponds to an estimated
a wholly electronic confirmation is Upon Written Request, Copies Available annual response burden of 2,088 hours.
approximately 39 cents. Based on From: Securities and Exchange At an average hourly cost of $64, the
informal discussions with industry Commission, Office of FOIA Services, aggregate related internal cost of
participants, as well as representations 100 F Street NE., Washington, DC compliance with Rule 19b–4(e) is
made in requests for exemptive and no- 20549–2736, $133,632 (2,088 burden hours
action letters relating to Rule 10b–10, Extension: multiplied by $64/hour).

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Document Created: 2018-02-02 15:00:03
Document Modified: 2018-02-02 15:00:03

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		81 FR 10691