81_FR_44486 81 FR 44356 - Submission for OMB Review; Comment Request

81 FR 44356 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

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

Page Range44356-44357
FR Document2016-16039

Federal Register, Volume 81 Issue 130 (Thursday, July 7, 2016) 
[Federal Register Volume 81, Number 130 (Thursday, July 7, 2016)]
[Notices]
[Pages 44356-44357]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16039]


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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 302; SEC File No. 270-453, OMB Control No. 3235-0510.

    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 
302 (17 CFR 242.302) 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 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 302 of Regulation ATS (17 
CFR 242.302) describes the recordkeeping requirements for ATSs. Under 
Rule 302, ATSs are required to make a record of subscribers to the ATS, 
daily summaries of trading in the ATS, and time-sequenced records of 
order information in the ATS.
    The information required to be collected under Rule 302 should 
increase the abilities 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. If the information is not collected 
or collected less frequently, the 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. These respondents will spend approximately 
3,780 hours per year (84 respondents at 45 burden hours/respondent) to 
comply with the recordkeeping requirements of Rule 302. At an average 
cost per burden hour of $65, the resultant total related internal cost 
of compliance for these respondents is $245,700 per year (3,780burden 
hours multiplied by $65/hour).
    Compliance with Rule 302 is mandatory. The information required by 
Rule 302 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.
    ATSs are required to preserve, for at least three years, any 
records made in the process of complying with the requirements set out 
in Rule 302.
    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

[[Page 44357]]

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. 2016-16039 Filed 7-6-16; 8:45 am]
 BILLING CODE 8011-01-P

44356 Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices change as operative upon filing with the Washington, DC 20549, on official daily summaries of trading in the ATS, Commission.29 business days between the hours of and time-sequenced records of order At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the information in the ATS. filing of such proposed rule change, the filing also will be available for The information required to be Commission summarily may inspection and copying at the principal collected under Rule 302 should temporarily suspend such rule change if office of the Exchange. All comments increase the abilities of the Commission, it appears to the Commission that such received will be posted without change; state securities regulatory authorities, action is necessary or appropriate in the the Commission does not edit personal and the self-regulatory organizations public interest, for the protection of identifying information from (‘‘SROs’’) to ensure that ATSs are in investors, or otherwise in furtherance of submissions. You should submit only compliance with Regulation ATS as the purposes of the Act. If the information that you wish to make well as other applicable rules and Commission takes such action, the available publicly. All submissions regulations. If the information is not Commission shall institute proceedings should refer to File Number SR– collected or collected less frequently, under Section 19(b)(2)(B) of the Act 30 to BatsEDGX–2016–28, and should be the regulators would be limited in their determine whether the proposed rule submitted on or before July 28, 2016. ability to comply with their statutory change should be approved or For the Commission, by the Division of obligations, provide for the protection of disapproved. Trading and Markets, pursuant to delegated investors, and promote the maintenance authority.31 of fair and orderly markets. IV. Solicitation of Comments Respondents consist of ATSs that Brent J. Fields, Interested persons are invited to choose to register as broker-dealers and Secretary. submit written data, views, and comply with the requirements of [FR Doc. 2016–16111 Filed 7–6–16; 8:45 am] arguments concerning the foregoing, Regulation ATS. There are currently 84 including whether the proposed rule BILLING CODE 8011–01–P respondents. These respondents will change is consistent with the Act. spend approximately 3,780 hours per Comments may be submitted by any of year (84 respondents at 45 burden SECURITIES AND EXCHANGE the following methods: hours/respondent) to comply with the COMMISSION Electronic Comments recordkeeping requirements of Rule 302. Submission for OMB Review; At an average cost per burden hour of • Use the Commission’s Internet $65, the resultant total related internal Comment Request comment form (http://www.sec.gov/ cost of compliance for these rules/sro.shtml); or Upon Written Request, Copies Available respondents is $245,700 per year • Send an email to rule-comments@ From: Securities and Exchange (3,780burden hours multiplied by $65/ sec.gov. Please include File Number SR– Commission, Office of FOIA Services, hour). BatsEDGX–2016–28 on the subject line. 100 F Street NE., Washington, DC Compliance with Rule 302 is Paper Comments 20549–2736. mandatory. The information required by Extension: Rule 302 is available only for the • Send paper comments in triplicate Rule 302; SEC File No. 270–453, OMB examination of the Commission staff, to Secretary, Securities and Exchange Control No. 3235–0510. state securities authorities, and the Commission, 100 F Street NE., Notice is hereby given that, pursuant SROs. Subject to the provisions of the Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 Freedom of Information Act, 5 U.S.C. All submissions should refer to File 522 (‘‘FOIA’’), and the Commission’s Number SR BatsEDGX–2016–28. This (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission rules thereunder (17 CFR file number should be included on the 200.80(b)(4)(iii)), the Commission does subject line if email is used. To help the (‘‘Commission’’) has submitted to the Office of Management and Budget not generally publish or make available Commission process and review your information contained in any reports, comments more efficiently, please use (‘‘OMB’’) a request for approval of extension of the previously approved summaries, analyses, letters, or only one method. The Commission will memoranda arising out of, in post all comments on the Commission’s collection of information provided for in Rule 302 (17 CFR 242.302) of Regulation anticipation of, or in connection with an Internet Web site (http://www.sec.gov/ examination or inspection of the books rules/sro.shtml). Copies of the ATS (17 CFR 242.300 et seq.) under the Securities and Exchange Act of 1934 and records of any person or any other submission, all subsequent (‘‘Act’’) (15 U.S.C. 78a et seq.). investigation. amendments, all written statements ATSs are required to preserve, for at Regulation ATS sets forth a regulatory with respect to the proposed rule least three years, any records made in regime for ‘‘alternative trading systems’’ change that are filed with the the process of complying with the (‘‘ATSs’’), which are entities that carry Commission, and all written requirements set out in Rule 302. out exchange functions but which are communications relating to the An agency may not conduct or not required to register as national proposed rule change between the sponsor, and a person is not required to securities exchanges under the Act. In Commission and any person, other than lieu of exchange registration, an ATS respond to, a collection of information those that may be withheld from the can instead opt to register with the under the PRA unless it displays a public in accordance with the Commission as a broker-dealer and, as currently valid OMB control number. provisions of 5 U.S.C. 552, will be a condition to not having to register as The public may view background available for Web site viewing and documentation for this information srobinson on DSK5SPTVN1PROD with NOTICES an exchange, must instead comply with printing in the Commission’s Public Regulation ATS. Rule 302 of Regulation collection at the following Web site: Reference Room, 100 F Street NE., ATS (17 CFR 242.302) describes the www.reginfo.gov. Comments should be recordkeeping requirements for ATSs. directed to: (i) Desk Officer for the 29 For purposes only of waiving the 30-day Under Rule 302, ATSs are required to Securities and Exchange Commission, operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, make a record of subscribers to the ATS, Office of Information and Regulatory and capital formation. See 15 U.S.C. 78c(f). Affairs, Office of Management and 30 15 U.S.C. 78s(b)(2)(B). 31 17 CFR 200.30–3(a)(12). Budget, Room 10102, New Executive VerDate Sep<11>2014 17:23 Jul 06, 2016 Jkt 238001 PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 E:\FR\FM\07JYN1.SGM 07JYN1

Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices 44357 Office Building, Washington, DC 20503, purpose of and basis for the proposed Operations Policies and Procedures. or by sending an email to: Shagufta_ rule change and discussed any Specifically, ICC has removed outdated Ahmed@omb.eop.gov; and (ii) Pamela comments it received on the proposed language stating that ICC treasury Dyson, Director/Chief Information rule change. The text of these statements services are provided by The Clearing Officer, Securities and Exchange may be examined at the places specified Corporation. Further, throughout the Commission, c/o Remi Pavlik-Simon, in Item IV below. ICC has prepared document, ICC changed references to 100 F Street NE., Washington, DC summaries, set forth in sections A, B, the ‘‘Director of Operations’’ to the 20549, or by sending an email to: and C below, of the most significant ‘‘Chief Operating Officer,’’ to correctly PRA_Mailbox@sec.gov. Comments aspects of these statements. reflect the officer title. ICC removed must be submitted to OMB within 30 A. Self-Regulatory Organization’s reference to specific reverse repo days of this notice. Statement of the Purpose of, and counterparties to reflect the addition of Dated: June 30, 2016. Statutory Basis for, the Proposed Rule multiple reverse repo counterparties. Robert W. Errett, Change Further, ICC notes that it has Deputy Secretary. arrangements in place to settle tri-party ICC proposes changes to the ICC [FR Doc. 2016–16039 Filed 7–6–16; 8:45 am] Treasury Operations Policies and and bilateral reverse repo transactions, BILLING CODE 8011–01–P Procedures to provide for the use of a both of which settle delivery vs. committed FX facility, to make changes payment (‘‘DVP’’). As a result, ICC has to the investment guidelines as well as clarified references throughout the SECURITIES AND EXCHANGE additional clean-up changes, and to policy from ‘‘DVP reverse repo’’ to more COMMISSION provide additional clarification specifically refer to ‘‘bilateral reverse [Release No. 34–78205; File No. SR–ICC– regarding the calculation of collateral repo.’’ ICC removed reference to the 2016–009] haircuts. ICC believes such revisions titles of specific agreements that it may will facilitate the prompt and accurate enter to effect reverse repo transactions Self-Regulatory Organizations; ICE clearance and settlement of securities Clear Credit LLC; Notice of Filing of and added general language to transactions and derivative agreements, encompass all agreements that may be Proposed Rule Change To Revise the contracts, and transactions for which it ICC Treasury Operations Policies and required. ICC removed information is responsible. The proposed revisions Procedures regarding the monitoring of available are described in detail as follows. ICC has revised its Treasury liquidity resources and added reference June 30, 2016. to the ICC Liquidity Risk Management Operations Policies and Procedures to Pursuant to section 19(b)(1) of the Framework. ICC clarified that its provide for the use of a committed FX Securities Exchange Act of 1934 committed repo facility may be used to facility. ICC has established a (‘‘Act’’) 1 and Rule 19b–4 thereunder 2 convert sovereign debt into cash and committed FX facility which provides notice is hereby given that on June 15, that the facility will be tested twice per for same day settled spot FX 2016, ICE Clear Credit LLC (‘‘ICC’’) filed transactions. The facility allows ICC to calendar year. ICC removed outdated with the Securities and Exchange use available United States Dollars information under the ‘‘ICE Clear Credit Commission (‘‘Commission’’) the (‘‘USD’’) to convert into Euro to meet a Banking Relationships’’ section of the proposed rule change as described in Euro liquidity need, for example in the policy and added language stating that Items I, II, and III below, which items unlikely event of a Clearing Participant ICC endeavors to maintain banking have been prepared primarily by ICC. default when Euro is needed for relationships with highly creditworthy The Commission is publishing this notice to solicit comments on the liquidity but only USD is available. In and reliable bank institutions that proposed rule change from interested addition, the policy has been revised to provide operational and strategic persons. document that the FX facility will be support with respect to holding margin tested twice a year. and Guaranty Fund cash and collateral. I. Self-Regulatory Organization’s Additionally, ICC has revised its ICC also removed references to specific Statement of the Terms of Substance of Treasury Operations Policies and banking counterparties, as ICC’s banking the Proposed Rule Change Procedures to make changes to the ICC relationships have expanded to include The purpose of proposed rule change Treasury Department investment guidelines for operating capital and multiple counterparties. ICC replaced is to revise the ICC Treasury Operations the specific names with a generic Policies and Procedures to provide for guaranty fund and margin cash. ICC has updated the list of permitted reference, to capture all counterparties the use of a committed foreign exchange utilized by ICC. ICC also updated (‘‘FX’’) facility, to make changes to the investments to add short term US Treasury securities (with a final certain SWIFT banking information investment guidelines as well as maturity of no greater than 98 days) and throughout the policy. Further, ICC additional clean-up changes, and to remove Money Market Mutual Funds. updated the list of applications used by provide additional clarification regarding the calculation of collateral ICC has also updated its investment the Treasury Department to perform haircuts. These revisions do not require policy for operating capital to include daily operations. any changes to the ICC Clearing Rules. Treasury/agency reverse repurchase Finally, ICC revised its Treasury (‘‘repo’’) agreements. ICC has updated Operations Policies and Procedures to II. Self-Regulatory Organization’s the governance section of the operating provide additional clarification Statement of the Purpose of, and capital investment policy to note that srobinson on DSK5SPTVN1PROD with NOTICES Statutory Basis for, the Proposed Rule regarding the calculation of collateral the Risk Committee will review any haircuts when yield rates are less than Change proposed changes to the policy and or equal to one basis point. This change In its filing with the Commission, ICC make recommendations to the Board. documents current ICC practices as included statements concerning the Further, ICC has removed reference to related to collateral haircut calculation; an obsolete financial report. 1 15 ICC also has made additional clean-up there is no change to the collateral U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. changes throughout the Treasury haircut methodology. VerDate Sep<11>2014 17:23 Jul 06, 2016 Jkt 238001 PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 E:\FR\FM\07JYN1.SGM 07JYN1


Document Created: 2018-02-08 07:54:21
Document Modified: 2018-02-08 07:54:21
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 44356 
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