81_FR_44468 81 FR 44338 - Submission for OMB Review; Comment Request

81 FR 44338 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 130 (July 7, 2016)

Page Range44338-44339
FR Document2016-16040

Federal Register, Volume 81 Issue 130 (Thursday, July 7, 2016)
[Federal Register Volume 81, Number 130 (Thursday, July 7, 2016)]
[Notices]
[Pages 44338-44339]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16040]


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

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 303; SEC File No. 270-450; OMB Control No. 3235-0505

    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'') 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 
303 (17 CFR 242.303) of Regulation ATS (17 CFR 242.300 et seq.) under 
the Securities and Exchange Act of 1934 (``Act'') (15 U.S.C. 78a et 
seq.).
    Regulation ATS sets forth a regulatory regime for ``alternative 
trading systems'' (``ATSs''), which are entities that carry out 
exchange functions but which are not required to register as national 
securities exchanges under the Act. In lieu of exchange registration, 
an ATS

[[Page 44339]]

can instead opt to register with the Commission as a broker-dealer and, 
as a condition to not having to register as an exchange, must instead 
comply with Regulation ATS. Rule 303 of Regulation ATS (17 CFR 242.303) 
describes the record preservation requirements for ATSs. Rule 303 also 
describes how such records must be maintained, what entities may 
perform this function, and how long records must be preserved.
    Under Rule 303, ATSs are required to preserve all records made 
pursuant to Rule 302, which includes information relating to 
subscribers, trading summaries, and time-sequenced order information. 
Rule 303 also requires ATSs to preserve any notices provided to 
subscribers, including, but not limited to, notices regarding the ATSs 
operations and subscriber access. For an ATS subject to the fair access 
requirements described in Rule 301(b)(5)(ii) of Regulation ATS, Rule 
303 further requires the ATS to preserve at least one copy of its 
standards for access to trading, all documents relevant to the ATS's 
decision to grant, deny, or limit access to any person, and all other 
documents made or received by the ATS in the course of complying with 
Rule 301(b)(5) of Regulation ATS. For an ATS subject to the capacity, 
integrity, and security requirements for automated systems under Rule 
301(b)(6) of Regulation ATS, Rule 303 requires an ATS to preserve all 
documents made or received by the ATS related to its compliance, 
including all correspondence, memoranda, papers, books, notices, 
accounts, reports, test scripts, test results and other similar 
records. As provided in Rule 303(a)(1), ATSs are required to keep all 
of these records, as applicable, for a period of at least three years, 
the first two in an easily accessible place. In addition, Rule 303 
requires ATSs to preserve records of partnership articles, articles of 
incorporation or charter, minute books, stock certificate books, copies 
of reports filed pursuant to Rule 301(b)(2), and records made pursuant 
to Rule 301(b)(5) for the life of the ATS.
    The information contained in the records required to be preserved 
by Rule 303 will be used by examiners and other representatives of the 
Commission, state securities regulatory authorities, and the self-
regulatory organizations (``SROs'') to ensure that ATSs are in 
compliance with Regulation ATS as well as other applicable rules and 
regulations. Without the data required by the Rule, regulators would be 
limited in their ability to comply with their statutory obligations, 
provide for the protection of investors, and promote the maintenance of 
fair and orderly markets.
    Respondents consist of ATSs that choose to register as broker-
dealers and comply with the requirements of Regulation ATS. There are 
currently 84 respondents. To comply with the record preservation 
requirements of Rule 303, these respondents will spend approximately 
1,260 hours per year (84 respondents at 15 burden hours/respondent). At 
an average cost per burden hour of $109.60, the resultant total related 
internal cost of compliance for these respondents is $138,096 per year 
(1,260 burden hours multiplied by $109.60/hour).
    Compliance with Rule 303 is mandatory. The information required by 
Rule 303 is available only for the examination of the Commission staff, 
state securities authorities and the SROs. Subject to the provisions of 
the Freedom of Information Act, 5 U.S.C. 522 (``FOIA''), and the 
Commission's rules thereunder (17 CFR 200.80(b) (4) (iii)), the 
Commission does not generally publish or make available information 
contained in any reports, summaries, analyses, letters, or memoranda 
arising out of, in anticipation of, or in connection with an 
examination or inspection of the books and records of any person or any 
other investigation.
    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: June 30, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-16040 Filed 7-6-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                44338                           Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices

                                                laws and the rules and regulations                       time prior to the compliance date for the               the Commission shall either approve the
                                                thereunder (including the applicable                     SDR Rules and the expiration of the                     proposed rule change, disapprove the
                                                Dodd-Frank Act provisions and all of                     SDR Relief to review the applications                   proposed rule change, or institute
                                                the SDR Rules) by March 18, 2016.5                       and consider issues related to the first                proceedings to determine whether the
                                                   Since March 18, 2016, two entities                    applications for registration of SDRs, the              proposed rule change should be
                                                have filed applications to register with                 Commission hereby grants, pursuant to                   disapproved. The 45th day after
                                                the Commission as SDRs. ICE Trade                        Section 36 of the Exchange Act, a                       publication of the notice for this
                                                Vault, LLC (‘‘ICE Trade Vault’’) filed                   temporary exemption from compliance                     proposed rule change is July 15, 2016.
                                                with the Commission a Form SDR                           with the SDR Rules and an extension of                  The Commission is extending this 45-
                                                seeking registration as an SDR on March                  the SDR Relief until [X, 2016], which is                day time period.
                                                29, 2016 and amended that form on                        90 days from publication of notice of                     The Commission finds it appropriate
                                                April 18, 2016. The Commission’s                         DDR’s application for registration as a                 to designate a longer period within
                                                notice of ICE Trade Vault’s application                  SDR.                                                    which to take action on the proposed
                                                for registration as an SDR was published                   By the Commission.                                    rule change so that it has sufficient time
                                                in the Federal Register on April 28,                                                                             to consider this proposed rule change.
                                                                                                         Brent J. Fields,
                                                2016.6 DTCC Data Repository (U.S.) LLC                                                                           Accordingly, the Commission, pursuant
                                                                                                         Secretary.
                                                (‘‘DDR’’) filed with the Commission a                                                                            to Section 19(b)(2) of the Act,5
                                                                                                         [FR Doc. 2016–16073 Filed 7–6–16; 8:45 am]              designates August 29, 2016, as the date
                                                Form SDR seeking registration as an
                                                                                                         BILLING CODE 8011–01–P                                  by which the Commission shall either
                                                SDR on April 6, 2016 and amended that
                                                form on April 25, 2016. The                                                                                      approve or disapprove, or institute
                                                Commission’s notice of DDR’s                                                                                     proceedings to determine whether to
                                                                                                         SECURITIES AND EXCHANGE                                 disapprove, the proposed rule change
                                                application for registration as an SDR
                                                                                                         COMMISSION                                              (File No. SR–NYSEArca–2016–70).
                                                was published in the Federal Register
                                                on [X, 2016].7 Rule 13n–1(c) provides                    [Release No. 34–78207; File No. SR–                       For the Commission, by the Division of
                                                that, within 90 days of the date of the                  NYSEArca–2016–70]                                       Trading and Markets, pursuant to delegated
                                                publication of notice of the filing of an                                                                        authority.6
                                                application for registration (or within                  Self-Regulatory Organizations; NYSE                     Robert W. Errett,
                                                such longer period as to which the                       Arca, Inc.; Notice of Designation of a
                                                                                                                                                                 Deputy Secretary.
                                                applicant consents), the Commission                      Longer Period for Commission Action
                                                                                                                                                                 [FR Doc. 2016–16034 Filed 7–6–16; 8:45 am]
                                                                                                         on Proposed Rule Change Regarding
                                                will either grant the registration by                                                                            BILLING CODE 8011–01–P
                                                                                                         Use of Rule 144A Securities By the
                                                order or institute proceedings to
                                                                                                         Fidelity Corporate Bond ETF, Fidelity
                                                determine whether registration should
                                                                                                         Investment Grade Bond ETF, Fidelity
                                                be granted or denied.                                                                                            SECURITIES AND EXCHANGE
                                                   Subject to certain exceptions, Section                Limited Term Bond ETF, and Fidelity
                                                                                                         Total Bond ETF                                          COMMISSION
                                                36 of the Exchange Act 8 authorizes the
                                                Commission, by rule, regulation, or                      June 30, 2016.                                          Submission for OMB Review;
                                                order, to exempt, either conditionally or                   On May 11, 2016, NYSE Arca, Inc.                     Comment Request
                                                unconditionally, any person, security,                   filed with the Securities and Exchange                  Upon Written Request, Copies Available
                                                or transaction, or any class or classes of               Commission (‘‘Commission’’), pursuant                    From: Securities and Exchange
                                                persons, securities, or transactions, from               to Section 19(b)(1) of the Securities                    Commission, Office of FOIA Services,
                                                any provision or provisions of the                       Exchange Act of 1934 (‘‘Act’’) 1 and Rule                100 F Street NE., Washington, DC
                                                Exchange Act or any rule or regulation                   19b–4 thereunder,2 a proposed rule                       20549–2736
                                                thereunder, to the extent that such                      change to permit the Fidelity Corporate
                                                exemption is necessary or appropriate                                                                            Extension:
                                                                                                         Bond ETF, Fidelity Investment Grade                       Rule 303; SEC File No. 270–450; OMB
                                                in the public interest, and is consistent                Bond ETF, Fidelity Limited Term Bond                        Control No. 3235–0505
                                                with the protection of investors. The                    ETF, and Fidelity Total Bond ETF to
                                                Commission finds that it is necessary                    consider securities issued pursuant to                     Notice is hereby given that, pursuant
                                                and appropriate in the public interest,                  Rule 144A under the Securities Act of                   to the Paperwork Reduction Act of 1995
                                                and consistent with the protection of                    1933 as debt securities eligible for                    (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
                                                investors, to grant a temporary                          principal investment. The proposed rule                 Securities and Exchange Commission
                                                exemption from compliance with the                       change was published for comment in                     (‘‘Commission’’) has submitted to the
                                                SDR Rules and an extension of the SDR                    the Federal Register on May 31, 2016.3                  Office of Management and Budget
                                                Relief. The applications filed by ICE                    The Commission has received no                          (‘‘OMB’’) a request for approval of
                                                Trade Vault and DDR are the first SDR                    comment letters on the proposal.                        extension of the previously approved
                                                applications submitted to the                               Section 19(b)(2) of the Act 4 provides               collection of information provided for in
                                                Commission and therefore present                         that within 45 days of the publication of               Rule 303 (17 CFR 242.303) of Regulation
                                                issues of first impression for the                       notice of the filing of a proposed rule                 ATS (17 CFR 242.300 et seq.) under the
                                                Commission’s consideration. Therefore,                   change, or within such longer period up                 Securities and Exchange Act of 1934
                                                to allow the Commission additional                       to 90 days as the Commission may                        (‘‘Act’’) (15 U.S.C. 78a et seq.).
                                                                                                         designate if it finds such longer period                   Regulation ATS sets forth a regulatory
                                                  5 See id., 80 FR at 14456. The SDR Rules Release
                                                                                                         to be appropriate and publishes its                     regime for ‘‘alternative trading systems’’
srobinson on DSK5SPTVN1PROD with NOTICES




                                                also notes that all exemptions that the Commission       reasons for so finding, or as to which the              (‘‘ATSs’’), which are entities that carry
                                                provided in a previous release, including the
                                                                                                         self-regulatory organization consents,                  out exchange functions but which are
                                                exemption to provisions in Exchange Act Section                                                                  not required to register as national
                                                13(n), will expire on the March 18, 2016
                                                compliance date. See id. (discussing the ‘‘DFA                1 15
                                                                                                                U.S.C. 78s(b)(1).                                securities exchanges under the Act. In
                                                Effective Date Order).                                        2 17
                                                                                                                CFR 240.19b–4.                                   lieu of exchange registration, an ATS
                                                  6 See ICE Trade Vault Notice.                            3 See Securities Exchange Act Release No. 77891
                                                  7 See DDR Notice.                                      (May 24, 2016), 81 FR 34388.                              5 Id.
                                                  8 15 U.S.C. 78mm.                                        4 15 U.S.C. 78s(b)(2).                                  6 17    CFR 200.30–3(a)(31).



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                                                                                Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices                                               44339

                                                can instead opt to register with the                        Respondents consist of ATSs that                   SECURITIES AND EXCHANGE
                                                Commission as a broker-dealer and, as                    choose to register as broker-dealers and              COMMISSION
                                                a condition to not having to register as                 comply with the requirements of
                                                an exchange, must instead comply with                    Regulation ATS. There are currently 84                [Release No. 34–78218; File No. SR–
                                                Regulation ATS. Rule 303 of Regulation                   respondents. To comply with the record                NYSEArca–2016–82]
                                                ATS (17 CFR 242.303) describes the                       preservation requirements of Rule 303,
                                                record preservation requirements for                     these respondents will spend                          Self-Regulatory Organizations; NYSE
                                                ATSs. Rule 303 also describes how such                   approximately 1,260 hours per year (84                Arca, Inc.; Notice of Filing of Proposed
                                                records must be maintained, what                         respondents at 15 burden hours/                       Rule Change To List and Trade Shares
                                                entities may perform this function, and
                                                                                                         respondent). At an average cost per                   of the JPMorgan Diversified Event
                                                how long records must be preserved.
                                                   Under Rule 303, ATSs are required to                  burden hour of $109.60, the resultant                 Driven ETF Under NYSE Arca Equities
                                                preserve all records made pursuant to                    total related internal cost of compliance             Rule 8.600
                                                Rule 302, which includes information                     for these respondents is $138,096 per
                                                                                                                                                               July 1, 2016.
                                                relating to subscribers, trading                         year (1,260 burden hours multiplied by
                                                summaries, and time-sequenced order                      $109.60/hour).                                           Pursuant to Section 19(b)(1) 1 of the
                                                information. Rule 303 also requires                         Compliance with Rule 303 is                        Securities Exchange Act of 1934 (the
                                                ATSs to preserve any notices provided                    mandatory. The information required by                ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
                                                to subscribers, including, but not                       Rule 303 is available only for the                    notice is hereby given that, on June 20,
                                                limited to, notices regarding the ATSs                   examination of the Commission staff,                  2016, NYSE Arca, Inc. (the ‘‘Exchange’’
                                                operations and subscriber access. For an                 state securities authorities and the                  or ‘‘NYSE Arca’’) filed with the
                                                ATS subject to the fair access                           SROs. Subject to the provisions of the                Securities and Exchange Commission
                                                requirements described in Rule                           Freedom of Information Act, 5 U.S.C.                  (the ‘‘Commission’’) the proposed rule
                                                301(b)(5)(ii) of Regulation ATS, Rule                                                                          change as described in Items I, II, and
                                                                                                         522 (‘‘FOIA’’), and the Commission’s
                                                303 further requires the ATS to preserve                                                                       III below, which Items have been
                                                                                                         rules thereunder (17 CFR 200.80(b) (4)
                                                at least one copy of its standards for                                                                         prepared by the self-regulatory
                                                access to trading, all documents relevant                (iii)), the Commission does not generally
                                                                                                         publish or make available information                 organization. The Commission is
                                                to the ATS’s decision to grant, deny, or                                                                       publishing this notice to solicit
                                                limit access to any person, and all other                contained in any reports, summaries,
                                                                                                         analyses, letters, or memoranda arising               comments on the proposed rule change
                                                documents made or received by the ATS
                                                                                                         out of, in anticipation of, or in                     from interested persons.
                                                in the course of complying with Rule
                                                301(b)(5) of Regulation ATS. For an ATS                  connection with an examination or                     I. Self-Regulatory Organization’s
                                                subject to the capacity, integrity, and                  inspection of the books and records of                Statement of the Terms of Substance of
                                                security requirements for automated                      any person or any other investigation.                the Proposed Rule Change
                                                systems under Rule 301(b)(6) of                             An agency may not conduct or
                                                Regulation ATS, Rule 303 requires an                     sponsor, and a person is not required to                 The Exchange proposes to list and
                                                ATS to preserve all documents made or                    respond to, a collection of information               trade shares of the JPMorgan Diversified
                                                received by the ATS related to its                       under the PRA unless it displays a                    Event Driven ETF under NYSE Arca
                                                compliance, including all                                                                                      Equities Rule 8.600. The proposed rule
                                                                                                         currently valid OMB control number.
                                                correspondence, memoranda, papers,                                                                             change is available on the Exchange’s
                                                books, notices, accounts, reports, test                     The public may view background                     Web site at www.nyse.com, at the
                                                scripts, test results and other similar                  documentation for this information                    principal office of the Exchange, and at
                                                records. As provided in Rule 303(a)(1),                  collection at the following Web site:                 the Commission’s Public Reference
                                                ATSs are required to keep all of these                   www.reginfo.gov. Comments should be                   Room.
                                                records, as applicable, for a period of at               directed to: (i) Desk Officer for the
                                                least three years, the first two in an                   Securities and Exchange Commission,                   II. Self-Regulatory Organization’s
                                                easily accessible place. In addition, Rule               Office of Information and Regulatory                  Statement of the Purpose of, and
                                                303 requires ATSs to preserve records of                 Affairs, Office of Management and                     Statutory Basis for, the Proposed Rule
                                                partnership articles, articles of                        Budget, Room 10102, New Executive                     Change
                                                incorporation or charter, minute books,                  Office Building, Washington, DC 20503,
                                                stock certificate books, copies of reports                                                                       In its filing with the Commission, the
                                                                                                         or by sending an email to: Shagufta_
                                                filed pursuant to Rule 301(b)(2), and                                                                          self-regulatory organization included
                                                                                                         Ahmed@omb.eop.gov; and (ii) Pamela
                                                records made pursuant to Rule 301(b)(5)                                                                        statements concerning the purpose of,
                                                                                                         Dyson, Director/Chief Information
                                                for the life of the ATS.                                                                                       and basis for, the proposed rule change
                                                                                                         Officer, Securities and Exchange
                                                   The information contained in the                                                                            and discussed any comments it received
                                                records required to be preserved by Rule                 Commission, c/o Remi Pavlik-Simon,
                                                                                                                                                               on the proposed rule change. The text
                                                303 will be used by examiners and other                  100 F Street NE., Washington, DC
                                                                                                                                                               of those statements may be examined at
                                                representatives of the Commission, state                 20549, or by sending an email to: PRA_
                                                                                                                                                               the places specified in Item IV below.
                                                securities regulatory authorities, and the               Mailbox@sec.gov. Comments must be
                                                                                                                                                               The Exchange has prepared summaries,
                                                self-regulatory organizations (‘‘SROs’’)                 submitted to OMB within 30 days of
                                                                                                                                                               set forth in sections A, B, and C below,
                                                to ensure that ATSs are in compliance                    this notice.
                                                                                                                                                               of the most significant parts of such
                                                with Regulation ATS as well as other
srobinson on DSK5SPTVN1PROD with NOTICES




                                                                                                           Dated: June 30, 2016.                               statements.
                                                applicable rules and regulations.                        Robert W. Errett,
                                                Without the data required by the Rule,
                                                regulators would be limited in their                     Deputy Secretary
                                                ability to comply with their statutory                   [FR Doc. 2016–16040 Filed 7–6–16; 8:45 am]
                                                obligations, provide for the protection of               BILLING CODE 8011–01–P                                  1 15 U.S.C. 78s(b)(1).
                                                investors, and promote the maintenance                                                                           2 15 U.S.C. 78a.
                                                of fair and orderly markets.                                                                                     3 17 CFR 240.19b–4.




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Document Created: 2018-02-08 07:54:49
Document Modified: 2018-02-08 07:54:49
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 44338 

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