81 FR 26271 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 84 (May 2, 2016)

Page Range		26271-26272
FR Document		2016-10107

Federal Register, Volume 81 Issue 84 (Monday, May 2, 2016)

[Federal Register Volume 81, Number 84 (Monday, May 2, 2016)]
[Notices]
[Pages 26271-26272]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-10107]


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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 6a-3,File No. 270-0015, OMB Control No. 3235-0021

    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

[[Page 26272]]

(``Commission'') is soliciting comments on the existing collection of 
information provided for in Rule 6a-3 (17 CFR 240.6a-3) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Act''). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget (``OMB'') for extension and 
approval.
    Section 6 of the Act sets out a framework for the registration and 
regulation of national securities exchanges. Under Rule 6a-3, one of 
the rules that implements Section 6, a national securities exchange (or 
an exchange exempted from registration as a national securities 
exchange based on limited trading volume) must provide certain 
supplemental information to the Commission, including any material 
(including notices, circulars, bulletins, lists, and periodicals) 
issued or made generally available to members of, or participants or 
subscribers to, the exchange. Rule 6a-3 also requires the exchanges to 
file monthly reports that set forth the volume and aggregate dollar 
amount of certain securities sold on the exchange each month.
    The information required to be filed with the Commission pursuant 
to Rule 6a-3 is designed to enable the Commission to carry out its 
statutorily mandated oversight functions and to ensure that registered 
and exempt exchanges continue to be in compliance with the Act.
    The Commission estimates that each respondent makes approximately 
12 such filings on an annual basis at an average cost of approximately 
$20 per response. Currently, 19 respondents (19 national securities 
exchanges) are subject to the collection of information requirements of 
Rule 6a-3. The Commission estimates that the total burden for all 
respondents is 114 hours and $4,560 per year.
    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: April 26, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10107 Filed 4-29-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices 26271

imposed certain restrictions on a DMM the proposed rule change is consistent must have received a customer order
unit’s trading in assigned securities, but with the Act. Comments may be before it enters a ‘‘customer-driven
those restrictions, according to the submitted by any of the following order’’ in DMM securities at the
Exchange, may cause a conflict with a methods: Exchange; (2) to specify that a DMM
DMM unit’s obligations to its customer unit entering a customer-driven order in
Electronic Comments
when representing that customer’s order DMM securities may do so only if the
as principal. The Commission believes • Use the Commission’s Internet order is entered on a riskless principal
that the proposal is reasonably designed comment form (http://www.sec.gov/ basis or if the order is entered on a
to permit DMM units to comply with rules/sro.shtml); or principal basis to provide price
their obligations when engaging in • Send an email to rule-comments@ improvement to the customer; and (3) to
proprietary trading on the Exchange in sec.gov. Please include File Number SR– provide that a mnemonic used to
assigned securities, while also allowing NYSE–2016–16 on the subject line. identify a DMM’s customer-driven
a DMM unit to comply with customer Paper Comments orders in DMM securities may not be
instructions and the duty of best used for trading activity at the Exchange
execution when representing customer • Send paper comments in triplicate in DMM securities that are not
orders as principal. to Brent J. Fields, Secretary, Securities customer-driven order, but may be used
The Commission also notes that the and Exchange Commission, 100 F Street for trading activities in securities not
Exchange’s proposal includes certain NE., Washington, DC 20549–1090. assigned to the DMM.
safeguards that should help to prevent All submissions should refer to File The Commission believes that the
potential mismarking of orders as Number SR–NYSE–2016–16. This file revisions proposed in Amendment No.
‘‘customer-driven orders’’ and to assist number should be included on the 1 are designed to prevent abuse and
the Exchange in monitoring for subject line if email is used. To help the facilitate surveillance of the new rules.
compliance by DMM units with Rule 98 Commission process and review your Therefore, the Commission finds that
as amended. The Commission notes comments more efficiently, please use Amendment No. 1 is consistent with the
that, under the proposal, all proprietary only one method. The Commission will protection of investors and the public
interest entered into Exchange systems post all comments on the Commission’s interest.
by the DMM unit in DMM securities Internet Web site (http://www.sec.gov/ Accordingly, the Commission finds
will be considered DMM unit interest rules/sro.shtml). Copies of the good cause, pursuant to Section 19(b)(2)
unless that interest is (1) for the purpose submission, all subsequent of the Act,20 to approve the proposed
of facilitating the execution of an order amendments, all written statements rule change, as modified by Amendment
that has already been received from a with respect to the proposed rule No. 1, on an accelerated basis.
customer (whether the DMM unit’s own change that are filed with the
Commission, and all written VI. Conclusion
customer or the customer of another
broker-dealer); and (2) represented on a communications relating to the It is therefore ordered, pursuant to
riskless principal basis, or on a proposed rule change between the Section 19(b)(2) of the Act,21 that the
principal basis to provide price Commission and any person, other than proposed rule change (NYSE–2016–16),
improvement to the customer. those that may be withheld from the as modified by Amendment No. 1, be,
Moreover, the Commission notes that a public in accordance with the and it hereby is, approved on an
DMM unit must use a unique mnemonic provisions of 5 U.S.C. 552, will be accelerated basis.
that identifies to the Exchange its available for Web site viewing and For the Commission, by the Division of
customer-driven orders in DMM printing in the Commission’s Public Trading and Markets, pursuant to delegated
securities. Reference Room, 100 F Street NE., authority.22
Finally, the Commission notes that Washington, DC 20549, on official Robert W. Errett,
the Exchange represents that this business days between the hours of Deputy Secretary.
proposed rule change would not alter in 10:00 a.m. and 3:00 p.m. Copies of the [FR Doc. 2016–10149 Filed 4–29–16; 8:45 am]
any way a member organization’s filing also will be available for
BILLING CODE 8011–01–P
existing obligations under Section 15(g) inspection and copying at the principal
of the Act,18 Regulation SHO,19 NYSE office of the Exchange. All comments
Rule 5320, or to maintain policies and received will be posted without change; SECURITIES AND EXCHANGE
procedures to ensure that a member the Commission does not edit personal COMMISSION
organization does not engage in any identifying information from
frontrunning of customer order submissions. You should submit only Proposed Collection; Comment
information in violation of Exchange, information that you wish to make Request
FINRA, or federal securities laws. available publicly. All submissions
should refer to File Number SR–NYSE– Upon Written Request, Copies Available
For the above reasons, the From: Securities and Exchange
Commission finds that the proposal, as 2016–16 and should be submitted on or
before May 23, 2016. Commission, Office of FOIA Services,
modified by Amendment No. 1, is 100 F Street NE., Washington, DC
consistent with the requirements of the V. Accelerated Approval of Proposed 20549–2736
Act. Rule Change, as Modified by Extension: Rule 6a–3,File No. 270–0015,
IV. Solicitation of Comments on Amendment No. 1 OMB Control No. 3235–0021
Amendment No. 1 The Commission finds good cause to
srobinson on DSK5SPTVN1PROD with NOTICES

Notice is hereby given that pursuant
Interested persons are invited to approve the proposed rule change, as to the Paperwork Reduction Act of 1995
submit written data, views, and modified by Amendment No. 1, prior to (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
arguments concerning the foregoing, the 30th day after the date of Securities and Exchange Commission
including whether Amendment No. 1 to publication of notice of Amendment No.
1 in the Federal Register. In 20 15 U.S.C. 78s(b)(2).
18 15 U.S.C. 78o(g). Amendment No. 1, the Exchange 21 Id.
19 17 CRF 242.201. proposes: (1) To clarify that a DMM unit 22 17 CFR 200.30–3(a)(12).

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26272 Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices

(‘‘Commission’’) is soliciting comments An agency may not conduct or II. Clearing Agency’s Statement of the
on the existing collection of information sponsor, and a person is not required to Purpose of, and Statutory Basis for, the
provided for in Rule 6a–3 (17 CFR respond to, a collection of information Proposed Rule Change
240.6a–3) under the Securities Exchange under the PRA unless it displays a In its filing with the Commission, the
Act of 1934 (15 U.S.C. 78a et seq.) currently valid OMB control number. clearing agency included statements
(‘‘Act’’). The Commission plans to Please direct your written comments concerning the purpose of and basis for
submit this existing collection of to: Pamela Dyson, Director/Chief the proposed rule change and discussed
information to the Office of Information Officer, Securities and any comments it received on the
Management and Budget (‘‘OMB’’) for Exchange Commission, c/o Remi Pavlik- proposed rule change. The text of these
extension and approval. Simon, 100 F Street NE., Washington, statements may be examined at the
Section 6 of the Act sets out a DC 20549, or send an email to: PRA_ places specified in Item IV below. The
framework for the registration and Mailbox@sec.gov. clearing agency has prepared
regulation of national securities
Dated: April 26, 2016. summaries, set forth in sections A, B,
exchanges. Under Rule 6a–3, one of the
Robert W. Errett, and C below, of the most significant
rules that implements Section 6, a
aspects of such statements.
national securities exchange (or an Deputy Secretary.
exchange exempted from registration as [FR Doc. 2016–10107 Filed 4–29–16; 8:45 am] (A) Clearing Agency’s Statement of the
a national securities exchange based on BILLING CODE 8011–01–P Purpose of, and Statutory Basis for, the
limited trading volume) must provide Proposed Rule Change
certain supplemental information to the
1. Purpose
Commission, including any material SECURITIES AND EXCHANGE
(including notices, circulars, bulletins, COMMISSION (i) Reasons for Adopting the Proposed
lists, and periodicals) issued or made Rule Change
generally available to members of, or [Release No. 34–77709; File No. SR–NSCC– NSCC provides its Members with a
participants or subscribers to, the 2016–001] risk management tool called DTCC
exchange. Rule 6a–3 also requires the Limit Monitoring, for which certain
exchanges to file monthly reports that Self-Regulatory Organizations; types of Members are required to
set forth the volume and aggregate National Securities Clearing register.4 DTCC Limit Monitoring
dollar amount of certain securities sold Corporation; Notice of Filing of a enables Members that use the tool to
on the exchange each month. Proposed Rule Change To Remove monitor post-trade activity and to be
The information required to be filed From the DTCC Limit Monitoring Tool notified when pre-set trading limits are
with the Commission pursuant to Rule the 50% Early Warning Limit Alert and reached. To use the tool, Members must
6a–3 is designed to enable the Make Technical Revisions to the Rules (1) define one or more ‘‘Risk Entities,’’
Commission to carry out its statutorily which may include (i) the trading
mandated oversight functions and to April 26, 2016.
activity of a single trading desk within
ensure that registered and exempt Pursuant to Section 19(b)(1) of the the firm; (ii) for Members that clear
exchanges continue to be in compliance Securities Exchange Act of 1934 trades for other firms, i.e., their
with the Act. (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 correspondents, the trading activity of a
The Commission estimates that each notice is hereby given that on April 18, correspondent firm; (iii) for Members
respondent makes approximately 12 2016, National Securities Clearing acting as a Special Representative or a
such filings on an annual basis at an Corporation (‘‘NSCC’’) filed with the QSR, as such terms are defined in the
average cost of approximately $20 per Securities and Exchange Commission
response. Currently, 19 respondents (19 Rules,5 the trading activity of a firm
(‘‘Commission’’) the proposed rule with which it has a clearing
national securities exchanges) are change as described in Items I, II and III
subject to the collection of information relationship; (iv) the trading activity of
below, which Items have been prepared a single clearing number within the
requirements of Rule 6a–3. The by the clearing agency. The Commission
Commission estimates that the total Member’s NSCC account structure; or
is publishing this notice to solicit (v) all trading activity of the Member
burden for all respondents is 114 hours comments on the proposed rule change
and $4,560 per year. submitted to NSCC for clearing; and (2)
from interested persons. set a trading limit, at a net notional
Written comments are invited on: (a)
Whether the proposed collection of I. Clearing Agency’s Statement of the value, for each Risk Entity. DTCC Limit
information is necessary for the proper Terms of Substance of the Proposed Monitoring then sets early warning
performance of the functions of the Rule Change limits at 50%, 75%, and 90% of those
Commission, including whether the trading limits.6 Members receive alerts
The proposed rule change consists of when trading activity for their Risk
information shall have practical utility;
amendments to NSCC’s Rules and Entities reaches each of these early
(b) the accuracy of the Commission’s
Procedures (‘‘Rules’’) to remove from warning limits, as well as the pre-set
estimates of the burden of the proposed
the DTCC Limit Monitoring tool the trading limits.
collection of information; (c) ways to
alert that is sent to Members when Since the implementation of DTCC
enhance the quality, utility, and clarity
trading activity in any of their Risk Limit Monitoring in 2014, NSCC has
of the information collected; and (d)
Entities reaches 50% of the pre-set
ways to minimize the burden of the
trading limits for that Risk Entity and to 4 Rule 54 (DTCC Limit Monitoring) and Procedure
collection of information on
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make technical revisions, as described XVII (DTCC Limit Monitoring), supra note 3; see
respondents, including through the use Securities Exchange Act Release No. 71637
in greater detail below.3
of automated collection techniques or (February 28, 2014), 79 FR 12708 (March 6, 2014)
other forms of information technology. (File No. SR–NSCC–2013–12).
1 15 U.S.C. 78s(b)(1). 5 Rule 7 (Comparison and Trade Recording
Consideration will be given to 2 17 CFR 240.19b–4. Operation) and Procedure IV (Special
comments and suggestions submitted in 3 Terms not defined herein are defined in the Representative Service), supra note 3.
writing within 60 days of this Rules, available at http://dtcc.com/∼/media/Files/ 6 Rule 54 (DTCC Limit Monitoring) and Procedure

publication. Downloads/legal/rules/nscc_rules.pdf. XVII (DTCC Limit Monitoring, supra note 3.

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Document Created: 2016-04-30 13:35:09
Document Modified: 2016-04-30 13:35:09

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 26271