81_FR_22222 81 FR 22150 - Submission for OMB Review; Comment Request

81 FR 22150 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

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

Page Range22150-22151
FR Document2016-08551

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]


-----------------------------------------------------------------------

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: 
[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: 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.
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                                                     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
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 22150 

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