81 FR 14920 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 53 (March 18, 2016)

Page Range		14920-14921
FR Document		2016-06094

Federal Register, Volume 81 Issue 53 (Friday, March 18, 2016)

[Federal Register Volume 81, Number 53 (Friday, March 18, 2016)]
[Notices]
[Pages 14920-14921]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-06094]


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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 17Ad-17, SEC File No. 270-412, OMB Control No. 3235-0469.

    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

[[Page 14921]]

on the existing collection of information provided for in Rule 17Ad-17, 
(17 CFR 240.17Ad-17), 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.
    Rule 17Ad-17 requires transfer agents and broker-dealers to make 
two searches for the correct address of lost securityholders using an 
information database without charge to the lost securityholders. In 
addition, paying agents are required to attempt to notify lost payees 
at least once. The Commission staff estimates that the rule applies to 
approximately 301 broker dealers and 2,766 paying agent entities, 
including carrying firms, transfer agents, indenture trustees, 
custodians, and approximately 10% of issuers. The Commission staff 
estimates that the total burden is 91,424 hours, representing the hours 
associated with searches, notifications, and recordkeeping.
    The retention period for the recordkeeping requirement under Rule 
17Ad-17 is not less than three years. The recordkeeping requirement 
under this rule is mandatory to assist the Commission in monitoring 
compliance with the rule. This rule does not involve the collection of 
confidential 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 
estimates of the burden of the proposed 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: March 14, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-06094 Filed 3-17-16; 8:45 am]
BILLING CODE 8011-01-P

14920 Federal Register / Vol. 81, No. 53 / Friday, March 18, 2016 / Notices

promote regulatory efficiency and change will not alter any rule language All submissions should refer to File
reduce the burden on dealers and and will, instead, only revise the Number SR–MSRB–2016–05. This file
subscribers that are making effective date of the amendments to number should be included on the
programming changes related to both Rule G–14 to be July 18, 2016. subject line if email is used. To help the
MSRB and FINRA rule changes. Commission process and review your
C. Self-Regulatory Organization’s
Accordingly, the MSRB submits this comments more efficiently, please use
proposed rule change to revise the Statement on Comments on the
only one method. The Commission will
effective date of the amendments to be Proposed Rule Change Received From
post all comments on the Commission’s
July 18, 2016. Members, Participants, or Others
Internet Web site (http://www.sec.gov/
Written comments were neither rules/sro.shtml). Copies of the
2. Statutory Basis
solicited nor received on the proposed submission, all subsequent
The MSRB believes that the proposed rule change. amendments, all written statements
rule change is consistent with Section with respect to the proposed rule
15B(b)(2)(C) of the Act,7 which provides III. Date of Effectiveness of the
Proposed Rule Change and Timing for change that are filed with the
that the MSRB’s rules shall: Commission, and all written
Commission Action
be designed to prevent fraudulent and communications relating to the
manipulative acts and practices, to promote Because the foregoing proposed rule proposed rule change between the
just and equitable principles of trade, to change does not: (i) Significantly affect Commission and any person, other than
foster cooperation and coordination with the protection of investors or the public those that may be withheld from the
persons engaged in regulating, clearing, interest; (ii) impose any significant
settling, processing information with respect public in accordance with the
to, and facilitating transactions in municipal burden on competition; and (iii) become provisions of 5 U.S.C. 552, will be
securities and municipal financial products, operative for 30 days from the date on available for Web site viewing and
to remove impediments to and perfect the which it was filed, or such shorter time printing in the Commission’s Public
mechanism of a free and open market in as the Commission may designate, it has Reference Room, 100 F Street NE.,
municipal securities and municipal financial become effective pursuant to Section Washington, DC 20549 on official
products, and, in general, to protect 19(b)(3)(A) of the Act 9 and Rule 19b– business days between the hours of
investors, municipal entities, obligated 4(f)(6) thereunder.10 11
persons, and the public interest.
10:00 a.m. and 3:00 p.m. Copies of the
At any time within 60 days of the filing also will be available for
The proposed rule change does not filing of the proposed rule change, the inspection and copying at the principal
alter any rule language but revises the Commission summarily may office of the MSRB. All comments
effective date of the amendments to temporarily suspend such rule change if received will be posted without change;
Rule G–14, which were previously it appears to the Commission that such the Commission does not edit personal
approved by the Commission. By action is necessary or appropriate in the identifying information from
aligning the effective date of the public interest, for the protection of submissions. You should submit only
amendments with the effective date of investors, or otherwise in furtherance of information that you wish to make
similar FINRA post-trade reporting the purposes of the Act. available publicly. All submissions
requirements, the MSRB believes the should refer to File Number SR–MSRB–
proposed rule change will promote IV. Solicitation of Comments
2016–05 and should be submitted on or
compliance with the amendments and Interested persons are invited to before April 8, 2016.
promote just and equitable principles of submit written data, views, and
trade, facilitate transactions in For the Commission, pursuant to delegated
arguments concerning the foregoing, authority.12
municipal securities, remove including whether the proposed rule
impediments to and perfect the Robert W. Errett,
change is consistent with the Act.
mechanism of a free and open market in Deputy Secretary.
Comments may be submitted by any of
municipal securities and protect the following methods: [FR Doc. 2016–06093 Filed 3–17–16; 8:45 am]
investors. In addition, the MSRB BILLING CODE 8011–01–P
believes the proposed rule change will Electronic Comments
create potential regulatory efficiencies • Use the Commission’s Internet
by allowing dealers that choose to do so comment form (http://www.sec.gov/ SECURITIES AND EXCHANGE
to implement programming changes and rules/sro.shtml); or COMMISSION
perform testing for both MSRB and • Send an email to rule-comments@
FINRA requirements simultaneously. Proposed Collection; Comment
sec.gov. Please include File Number SR–
Request
B. Self-Regulatory Organization’s MSRB–2016–05 on the subject line.
Statement on Burden on Competition Upon Written Request, Copies Available
Paper Comments
From: Securities and Exchange
Section 15B(b)(2)(C) of the Act 8 • Send paper comments in triplicate Commission, Office of FOIA Services,
requires that MSRB rules not be to Secretary, Securities and Exchange 100 F Street NE., Washington, DC
designed to impose any burden on Commission, 100 F Street NE., 20549–2736.
competition not necessary or Washington, DC 20549.
appropriate in furtherance of the Extension:
Rule 17Ad–17, SEC File No. 270–412,
asabaliauskas on DSK3SPTVN1PROD with NOTICES

purposes of the Act. The MSRB does not 9 15 U.S.C. 78s(b)(3)(A). OMB Control No. 3235–0469.
believe that the proposed rule change 10 17 CFR 240.19b–4(f)(6).
would impose any burden on 11 In addition, Rule 19b–4(f)(6)(iii) requires a self- Notice is hereby given that pursuant
competition not necessary or regulatory organization to give the Commission to the Paperwork Reduction Act of 1995
appropriate in furtherance of the written notice of its intent to file a proposed rule (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
change, along with a brief description and text of Securities and Exchange Commission
purposes of the Act. The proposed rule such proposed rule change, at least five business
days prior to the date of filing, or such shorter time (‘‘Commission’’) is soliciting comments
7 15 U.S.C. 78o–4(b)(2)(C). as designated by the Commission. The MSRB
8 Id. fulfilled this obligation. 12 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 81, No. 53 / Friday, March 18, 2016 / Notices 14921

on the existing collection of information Dated: March 14, 2016. side) (‘‘Fee’’) executed on an Options
provided for in Rule 17Ad–17, (17 CFR Robert W. Errett, Exchange that did not demonstrate
240.17Ad–17), under the Securities Deputy Secretary. sufficient Risk Controls designed to
Exchange Act of 1934 (15 U.S.C. 78a et [FR Doc. 2016–06094 Filed 3–17–16; 8:45 am] meet the proposed Risk Control
seq.). The Commission plans to submit BILLING CODE 8011–01–P Standards. The text of the proposed
this existing collection of information to Policy and related changes to the OCC
the Office of Management and Budget Schedule of Fees is attached as Exhibit
(‘‘OMB’’) for extension and approval. SECURITIES AND EXCHANGE 5. Material proposed to be added is
Rule 17Ad–17 requires transfer agents COMMISSION marked by underlining and material
and broker-dealers to make two searches proposed to be deleted is enclosed in
[Release No. 34–77358; File No. SR–OCC–
for the correct address of lost bold brackets.
2016–004]
securityholders using an information II. Clearing Agency’s Statement of the
database without charge to the lost Self-Regulatory Organizations; The Purpose of, and Statutory Basis for, the
securityholders. In addition, paying Options Clearing Corporation; Notice Proposed Rule Change
agents are required to attempt to notify of Filing of Proposed Rule Change
Related to the Adoption of an Options In its filing with the Commission,
lost payees at least once. The OCC included statements concerning
Commission staff estimates that the rule Exchange Risk Control Standards
Policy the purpose of and basis for the
applies to approximately 301 broker proposed rule change and discussed any
dealers and 2,766 paying agent entities, March 14, 2016. comments it received on the proposed
including carrying firms, transfer agents, rule change. The text of these statements
Pursuant to Section 19(b)(1) of the
indenture trustees, custodians, and Securities Exchange Act of 1934 may be examined at the places specified
approximately 10% of issuers. The (‘‘Act’’),1 and Rule 19b–4 thereunder,2 in Item IV below. OCC has prepared
Commission staff estimates that the total notice is hereby given that on March 4, summaries, set forth in sections (A), (B),
burden is 91,424 hours, representing the 2016, The Options Clearing Corporation and (C) below, of the most significant
hours associated with searches, (‘‘OCC’’) filed with the Securities and aspects of these statements.
notifications, and recordkeeping. Exchange Commission (‘‘Commission’’)
The retention period for the (A) Clearing Agency’s Statement of the
the proposed rule change as described
recordkeeping requirement under Rule Purpose of, and Statutory Basis for, the
in Items I and II below, which Items
17Ad–17 is not less than three years. Proposed Rule Change
have been prepared by OCC. The
The recordkeeping requirement under Commission is publishing this notice to (1) Purpose
this rule is mandatory to assist the solicit comments on the proposed rule Background
Commission in monitoring compliance change from interested persons.
with the rule. This rule does not involve OCC proposes to adopt a new Options
the collection of confidential I. Clearing Agency’s Statement of the Exchange Risk Control Standards
information. Terms of Substance of the Proposed Policy, which is designed to better
Rule Change protect OCC against risks related to
Written comments are invited on: (a)
Whether the proposed collection of This proposed rule change by OCC erroneous transactions that may occur
information is necessary for the proper would adopt a new Options Exchange on Options Exchanges that have not
performance of the functions of the Risk Control Standards Policy implemented Risk Controls that are
Commission, including whether the (‘‘Policy’’), which details OCC’s policy consistent with a defined set of
information shall have practical utility; for addressing the potential risks arising principles-based Risk Control
(b) the accuracy of the Commission’s from erroneous trades executed on an Standards, which were developed by
estimates of the burden of the proposed options exchange (‘‘Options Exchange’’ OCC in consultation with the
collection of information; (c) ways to or ‘‘Options Exchanges,’’ as applicable) 3 exchanges, and that are sent to OCC for
enhance the quality, utility, and clarity that has not demonstrated the existence a guarantee. The proposed Policy
of the information collected; and (d) of certain risk controls (‘‘Risk Controls’’) would, among other things, impose an
ways to minimize the burden of the that are consistent with a set of additional Fee on cleared trades that are
collection of information on principles-based risk control standards executed on an Options Exchange that
respondents, including through the use (‘‘Risk Control Standards’’) developed has not certified the existence of Risk
of automated collection techniques or by OCC in consultation with the Controls that meet the Risk Control
other forms of information technology. exchanges. The proposed rule change Standards in the following categories: (i)
Consideration will be given to would also revise OCC’s Schedule of ‘‘Price Reasonability Checks;’’ (ii) ‘‘Drill-
comments and suggestions submitted in Fees in accordance with the proposed Through Protections;’’ (iii) ‘‘Activity-
writing within 60 days of this Policy to charge and collect from Based Protections;’’ and (iv) ‘‘Kill-
publication. Clearing Members 4 a fee of two cents Switch Protections’’ (in each case
per each cleared options contract (per discussed more thoroughly below) along
An agency may not conduct or with OCC’s review to determine if the
sponsor, and a person is not required to 1 15 U.S.C. 78s(b)(1). Risk Controls are consistent with the
respond to, a collection of information 2 17 CFR 240.19b–4. Risk Control Standards. The Policy
under the PRA unless it displays a 3 Current Options Exchanges are: (i) BATS
would also require that any funds
asabaliauskas on DSK3SPTVN1PROD with NOTICES

currently valid OMB control number. Options Market, (ii) Box Options Exchange LLC,
collected from the Fee be retained as
(iii) C2 Options Exchange, Inc., (iv) Chicago Board
Please direct your written comments Options Exchange, Inc., (v) EDGX Options earnings and, as such, be eligible for use
to: Pamela Dyson, Director/Chief Exchange, (vi) International Securities Exchange, for Clearing Member defaults under
Information Officer, Securities and LLC, (vii) ISE Gemini LLC, (viii) ISE Mercury, LLC, Article VIII, Section 5(d) of OCC’s By-
Exchange Commission, c/o Remi Pavlik- (ix) MIAX Options Exchange, (x) NASDAQ OMX
BX, Inc., (xi) NASDAQ OMX PHLX, LLC, (xii)
Laws but prohibit such funds from
Simon, 100 F Street NE., Washington, NASDAQ Options Market, (xiii) NYSE Amex being used for any other purpose.
DC 20549, or send an email to: PRA_ Options, and (xiv) NYSE Arca Options. OCC believes that the implementation
Mailbox@sec.gov. 4 See Article I, Section 1 of OCC’s By-Laws. of Risk Controls that are consistent with

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Document Created: 2018-02-02 15:14:03
Document Modified: 2018-02-02 15:14:03

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 14920