81 FR 22150 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 72 (April 14, 2016)

Page Range		22150-22151
FR Document		2016-08551

Federal Register, Volume 81 Issue 72 (Thursday, April 14, 2016)

[Federal Register Volume 81, Number 72 (Thursday, April 14, 2016)]
[Notices]
[Pages 22150-22151]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-08551]


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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:
    Rule 15b1-1/Form BD, SEC File No. 270-19, OMB Control No. 3235-
0012.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995

[[Page 22151]]

(``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') 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 in Rule 
15b1-1 (17 CFR 240.15b1-1) and Form BD (17 CFR 249.501) under the 
Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.).
    Form BD is the application form used by firms to apply to the 
Commission for registration as a broker-dealer, as required by Rule 
15b1-1. Form BD also is used by firms other than banks and registered 
broker-dealers to apply to the Commission for registration as a 
municipal securities dealer or a government securities broker-dealer. 
In addition, Form BD is used to change information contained in a 
previous Form BD filing that becomes inaccurate.
    The total industry-wide annual time burden imposed by Form BD is 
approximately 4,999 hours, based on approximately 13,732 responses (193 
initial filings + 13,539 amendments). Each application filed on Form BD 
requires approximately 2.75 hours to complete and each amended Form BD 
requires approximately 20 minutes to complete. (193 x 2.75 hours = 531 
hours; 13,539 x 0.33 hours = 4,468 hours; 531 hours + 4,468 hours = 
4,999 hours.) The staff believes that a broker-dealer would have a 
Compliance Manager complete and file both applications and amendments 
on Form BD at a cost of $279/hour. Consequently, the staff estimates 
that the total internal cost of compliance associated with the annual 
time burden is approximately $1,394,721 per year ($279 x 4999). There 
is no external cost burden associated with Rule 15b1-1 and Form BD.
    The Commission uses the information disclosed by applicants in Form 
BD: (1) To determine whether the applicant meets the standards for 
registration set forth in the provisions of the Exchange Act; (2) to 
develop a central information resource where members of the public may 
obtain relevant, up-to-date information about broker-dealers, municipal 
securities dealers, and government securities broker-dealers, and where 
the Commission, other regulators, and SROs may obtain information for 
investigatory purposes in connection with securities litigation; and 
(3) to develop statistical information about broker-dealers, municipal 
securities dealers, and government securities broker-dealers. Without 
the information disclosed in Form BD, the Commission could not 
effectively implement policy objectives of the Exchange Act with 
respect to its investor protection function.
    Completing and filing Form BD is mandatory in order to engage in 
broker-dealer activity. Compliance with Rule 15b1-1 does not involve 
the collection of confidential information.
    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: 
Shagufta_Ahmed@omb.eop.gov; 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: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: April 8, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-08551 Filed 4-13-16; 8:45 am]
 BILLING CODE 8011-01-P

22150 Federal Register / Vol. 81, No. 72 / Thursday, April 14, 2016 / Notices

S&P 500 index. The extension of the consistent with the protection of Commission, 100 F Street NE.,
Pilot Program will continue to provide investors and the public interest, the Washington, DC 20549–1090.
investors with the opportunity to trade proposed rule change has become All submissions should refer to File
the desirable products of SPXPM and effective pursuant to Section 19(b)(3)(A) Number SR–CBOE–2016–036. This file
P.M.-settled XSP, while also providing of the Act 16 and Rule 19b–4(f)(6)(iii) number should be included on the
the Commission further opportunity to thereunder.17 subject line if email is used. To help the
observe such trading of the Pilot The Exchange has asked the Commission process and review your
Products. Commission to waive the 30-day comments more efficiently, please use
operative delay so that the proposal may only one method. The Commission will
B. Self-Regulatory Organization’s become operative immediately upon
Statement on Burden on Competition post all comments on the Commission’s
filing. The existing Pilot Program Internet Web site (http://www.sec.gov/
CBOE does not believe that the currently expires on May 3, 2016. The rules/sro.shtml). Copies of the
proposed rule change will impose any Commission believes that waiving the submission, all subsequent
burden on competition that is not 30-day operative delay to the extent amendments, all written statements
necessary or appropriate in furtherance necessary to allow the proposal to with respect to the proposed rule
of the purposes of the Act. The become operative on May 3, 2016 is change that are filed with the
Exchange does not believe the consistent with the protection of Commission, and all written
continuation of the Pilot Program will investors and the public interest, as it communications relating to the
impose any unnecessary or will allow the Pilot Program to continue proposed rule change between the
inappropriate burden on intramarket uninterrupted after its current Commission and any person, other than
competition because it will continue to expiration date, thereby avoiding those that may be withheld from the
apply equally to all CBOE market investor confusion that could result public in accordance with the
participants, and the Pilot Products will from a temporary interruption in the provisions of 5 U.S.C. 552, will be
be available to all CBOE market Pilot Program. For this reason, the available for Web site viewing and
participants. The Exchange believes Commission designates the proposed printing in the Commission’s Public
there is sufficient investor interest and rule change to be operative on May 3,
Reference Room, 100 F Street NE.,
demand in the Pilot Program to warrant 2016.18
Washington, DC 20549, on official
its extension. The Exchange believes At any time within 60 days of the
filing of the proposed rule change, the business days between the hours of
that, for the period that the Pilot
Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of such
Program has been in operation, it has
temporarily suspend such rule change if filing will also be available for
provided investors with desirable
it appears to the Commission that such inspection and copying at the principal
products with which to trade.
action is necessary or appropriate in the office of the Exchange. All comments
Furthermore, the Exchange believes that
public interest, for the protection of received will be posted without change;
it has not experienced any adverse
investors, or otherwise in furtherance of the Commission does not edit personal
market effects or regulatory concerns
the purposes of the Act. identifying information from
with respect to the Pilot Program. The
submissions. You should submit only
Exchange further does not believe that IV. Solicitation of Comments information that you wish to make
the proposed extension of the Pilot
Interested persons are invited to available publicly. All submissions
Program will impose any burden on
submit written data, views, and should refer to File Number SR–CBOE–
intermarket competition that is not
arguments concerning the foregoing, 2016–036 and should be submitted on
necessary or appropriate in furtherance
including whether the proposed rule or before May 5, 2016.
of the purposes of the Act because it
only applies to trading on CBOE. To the change is consistent with the Act. For the Commission, by the Division of
extent that the continued trading of the Comments may be submitted by any of Trading and Markets, pursuant to delegated
Pilot Products may make CBOE a more the following methods: authority.19
attractive marketplace to market Electronic Comments Robert W. Errett,
participants at other exchanges, such Deputy Secretary.
• Use the Commission’s Internet
market participants may elect to become comment form (http://www.sec.gov/
[FR Doc. 2016–08560 Filed 4–13–16; 8:45 am]
CBOE market participants. rules/sro.shtml); or BILLING CODE 8011–01–P

C. Self-Regulatory Organization’s • Send an email to rule-comments@
Statement on Comments on the sec.gov. Please include File Number SR–
SECURITIES AND EXCHANGE
Proposed Rule Change Received From CBOE–2016–036 on the subject line.
COMMISSION
Members, Participants, or Others Paper Comments
The Exchange neither solicited nor Submission for OMB Review;
• Send paper comments in triplicate
received comments on the proposed to Secretary, Securities and Exchange Comment Request
rule change. Upon Written Request, Copies Available
16 15 U.S.C. 78s(b)(3)(A).
III. Date of Effectiveness of the From: Securities and Exchange
17 17 CFR 240.19b–4(f)(6)(iii). As required under
Proposed Rule Change and Timing for Commission, Office of FOIA Services,
Rule 19b–4(f)(6)(iii), the Exchange provided the
Commission Action Commission with written notice of its intent to file 100 F Street NE., Washington, DC
the proposed rule change, along with a brief 20549–2736.
mstockstill on DSK4VPTVN1PROD with NOTICES

Because the proposed rule change
description and the text of the proposed rule
does not (i) significantly affect the change, at least five business days prior to the date
Extension:
protection of investors or the public of filing of the proposed rule change, or such Rule 15b1–1/Form BD, SEC File No. 270–
interest; (ii) impose any significant shorter time as designated by the Commission. 19, OMB Control No. 3235–0012.
18 For purposes only of waiving the 30-day
burden on competition; and (iii) become Notice is hereby given that, pursuant
operative delay, the Commission has also
operative for 30 days from the date on considered the proposed rule’s impact on to the Paperwork Reduction Act of 1995
which it was filed, or such shorter time efficiency, competition, and capital formation. See
as the Commission may designate if 15 U.S.C. 78c(f). 19 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 81, No. 72 / Thursday, April 14, 2016 / Notices 22151

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the of the Exchange Act with respect to its Act,3 and Rule 19b–4(f)(2) thereunder,4
Securities and Exchange Commission investor protection function. which renders the proposal effective
(‘‘Commission’’) has submitted to the Completing and filing Form BD is upon filing with the Commission. The
Office of Management and Budget mandatory in order to engage in broker- Commission is publishing this notice to
(‘‘OMB’’) a request for approval of dealer activity. Compliance with Rule solicit comments on the proposed rule
extension of the previously approved 15b1–1 does not involve the collection change from interested persons.
collection of information provided for in of confidential information. I. Self-Regulatory Organization’s
Rule 15b1–1 (17 CFR 240.15b1–1) and An agency may not conduct or Statement of the Terms of the Substance
Form BD (17 CFR 249.501) under the sponsor, and a person is not required to of the Proposed Rule Change
Securities Exchange Act of 1934 (17 respond to, a collection of information
U.S.C. 78a et seq.). under the PRA unless it displays a The Exchange is filing with the
Form BD is the application form used currently valid OMB control number. Securities and Exchange Commission
by firms to apply to the Commission for The public may view background (‘‘Commission’’) a proposed rule change
registration as a broker-dealer, as documentation for this information to amend the Fee Schedule to revise the
required by Rule 15b1–1. Form BD also collection at the following Web site: Complex Order pricing structure and
is used by firms other than banks and www.reginfo.gov. Comments should be make a clerical correction to Section III
registered broker-dealers to apply to the directed to: (i) Desk Officer for the of the BOX Fee Schedule on the BOX
Commission for registration as a Securities and Exchange Commission, Market LLC (‘‘BOX’’) options facility.
municipal securities dealer or a Office of Information and Regulatory While changes to the fee schedule
government securities broker-dealer. In Affairs, Office of Management and pursuant to this proposal will be
addition, Form BD is used to change Budget, Room 10102, New Executive effective upon filing, the changes will
information contained in a previous Office Building, Washington, DC 20503, become operative on April 1, 2016. The
Form BD filing that becomes inaccurate. or by sending an email to: Shagufta_ text of the proposed rule change is
The total industry-wide annual time Ahmed@omb.eop.gov; and (ii) Pamela available from the principal office of the
burden imposed by Form BD is Dyson, Director/Chief Information Exchange, at the Commission’s Public
approximately 4,999 hours, based on Officer, Securities and Exchange Reference Room and also on the
approximately 13,732 responses (193 Commission, c/o Remi Pavlik-Simon, Exchange’s Internet Web site at http://
initial filings + 13,539 amendments). 100 F Street NE., Washington, DC boxexchange.com.
Each application filed on Form BD 20549, or by sending an email to: PRA_ II. Self-Regulatory Organization’s
requires approximately 2.75 hours to Mailbox@sec.gov. Comments must be Statement of the Purpose of, and
complete and each amended Form BD submitted to OMB within 30 days of Statutory Basis for, the Proposed Rule
requires approximately 20 minutes to this notice. Change
complete. (193 × 2.75 hours = 531
hours; 13,539 × 0.33 hours = 4,468 Dated: April 8, 2016. In its filing with the Commission, the
hours; 531 hours + 4,468 hours = 4,999 Robert W. Errett, Exchange included statements
hours.) The staff believes that a broker- Deputy Secretary. concerning the purpose of and basis for
dealer would have a Compliance [FR Doc. 2016–08551 Filed 4–13–16; 8:45 am] the proposed rule change and discussed
Manager complete and file both BILLING CODE 8011–01–P
any comments it received on the
applications and amendments on Form proposed rule change. The text of these
BD at a cost of $279/hour. statements may be examined at the
Consequently, the staff estimates that SECURITIES AND EXCHANGE places specified in Item IV below. The
the total internal cost of compliance COMMISSION Exchange has prepared summaries, set
associated with the annual time burden forth in Sections A, B, and C below, of
[Release No. 34–77568; File No. SR–BOX– the most significant aspects of such
is approximately $1,394,721 per year 2016–15]
($279 × 4999). There is no external cost statements.
burden associated with Rule 15b1–1 and Self-Regulatory Organizations; BOX A. Self-Regulatory Organization’s
Form BD. Options Exchange LLC; Notice of Statement of the Purpose of, and
The Commission uses the information Filing and Immediate Effectiveness of Statutory Basis for, the Proposed Rule
disclosed by applicants in Form BD: a Proposed Rule Change To Amend Change
(1) To determine whether the applicant the Fee Schedule on the BOX Market
meets the standards for registration set 1. Purpose
LLC (‘‘BOX’’) Options Facility
forth in the provisions of the Exchange The Exchange proposes to amend the
Act; (2) to develop a central information April 8, 2016. Fee Schedule for trading on BOX to
resource where members of the public Pursuant to Section 19(b)(1) of the adopt a new pricing structure for
may obtain relevant, up-to-date Securities Exchange Act of 1934 (the Complex Orders.
information about broker-dealers, ‘‘Act’’),1 and Rule 19b–4 thereunder,2 Currently, Complex Orders executed
municipal securities dealers, and notice is hereby given that on March 31, on BOX are assessed differing fees and
government securities broker-dealers, 2016, BOX Options Exchange LLC (the credits depending on where the
and where the Commission, other ‘‘Exchange’’) filed with the Securities Complex Order executes. Complex
regulators, and SROs may obtain and Exchange Commission Orders that executed against orders on
information for investigatory purposes (‘‘Commission’’) the proposed rule the BOX Book are assessed a flat fee
mstockstill on DSK4VPTVN1PROD with NOTICES

in connection with securities litigation; change as described in Items I, II, and depending on the account type of the
and (3) to develop statistical III below, which Items have been Participant submitting the order; while
information about broker-dealers, prepared by the Exchange. The Complex Orders that execute against
municipal securities dealers, and Exchange filed the proposed rule change other Complex Orders on the Complex
government securities broker-dealers. pursuant to Section 19(b)(3)(A)(ii) of the Order Book are assessed a fee or credit
Without the information disclosed in
Form BD, the Commission could not 1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78s(b)(3)(A)(ii).
effectively implement policy objectives 2 17 CFR 240.19b–4. 4 17 CFR 240.19b–4(f)(2).

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Document Created: 2018-02-07 13:48:19
Document Modified: 2018-02-07 13:48:19

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 22150