81 FR 49708 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 145 (July 28, 2016)

Page Range		49708-49709
FR Document		2016-17820

Federal Register, Volume 81 Issue 145 (Thursday, July 28, 2016)

[Federal Register Volume 81, Number 145 (Thursday, July 28, 2016)]
[Notices]
[Pages 49708-49709]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-17820]


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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:

[[Page 49709]]

    Rule 15Ba2-5, SEC File No. 270-91, OMB Control No. 3235-0088.

    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 
existing collection of information provided for in Rule 15Ba2-5 (17 CFR 
240.15Ba2-5), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) (``Exchange Act'').
    On July 7, 1976, effective July 16, 1976 (see 41 FR 28948, July 14, 
1976), the Commission adopted Rule 15Ba2-5 under the Exchange Act to 
permit a duly-appointed fiduciary to assume immediate responsibility 
for the operation of a municipal securities dealer's business. Without 
the rule, the fiduciary would not be able to assume operation until it 
registered as a municipal securities dealer. Under the rule, the 
registration of a municipal securities dealer is deemed to be the 
registration of any executor, administrator, guardian, conservator, 
assignee for the benefit of creditors, receiver, trustee in insolvency 
or bankruptcy, or other fiduciary, appointed or qualified by order, 
judgment, or decree of a court of competent jurisdiction to continue 
the business of such municipal securities dealer, provided that such 
fiduciary files with the Commission, within 30 days after entering upon 
the performance of his duties, a statement setting forth as to such 
fiduciary substantially the same information required by Form MSD or 
Form BD. The statement is necessary to ensure that the Commission and 
the public have adequate information about the fiduciary.
    There is approximately 1 respondent per year that requires an 
aggregate total of 4 hours to comply with this rule. This respondent 
makes an estimated 1 annual response. Each response takes approximately 
4 hours to complete. Thus, the total compliance burden per year is 4 
burden hours. The approximate cost per hour is $20, resulting in a 
total internal cost of compliance for the respondent of approximately 
$80 (i.e., 4 hours x $20).
    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: July 22, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-17820 Filed 7-27-16; 8:45 am]
BILLING CODE 8011-01-P

49708 Federal Register / Vol. 81, No. 145 / Thursday, July 28, 2016 / Notices

therefore also do not impact the changes to allow companies the ability Paper Comments
Commission’s prior conclusions. These to choose a more meaningful market
changes, in fact, were found to be advisory tool will provide companies a • Send paper comments in triplicate
necessary by the Commission in the better experience with these tools, the to Brent J. Fields, Secretary, Securities
Prior Filings.24 Similarly, the changes to proposed change to allow certain and Exchange Commission, 100 F Street
rename certain services to better reflect companies to receive two market NE., Washington, DC 20549–1090.
the service offered, refer to Nasdaq advisory tools will expose eligible All submissions should refer to File
Corporate Solutions and reorganize the companies to additional service options. Number SR–NASDAQ–2016–098. This
rule are clarifying changes, which have As a result, Nasdaq believes that when file number should be included on the
no impact on fees and how they are the complimentary period ends these subject line if email is used. To help the
allocated or on competition. companies are more likely to continue Commission process and review your
Nasdaq believes that it is not unfairly to use the Nasdaq Corporate Solutions comments more efficiently, please use
discriminatory to offer the revised service or a competing service, whereas only one method. The Commission will
service package only to currently listed otherwise they may not be exposed to post all comments on the Commission’s
companies that are receiving services at the value of these services and therefore Internet Web site (http://www.sec.gov/
the time of the proposal’s approval, and may not purchase any. This will create rules/sro.shtml). Copies of the
not to other currently listed companies. additional users of the service class and submission, all subsequent
Companies receiving complimentary enhance competition among service amendments, all written statements
services are still in the process of providers. In addition, other service with respect to the proposed rule
sampling Nasdaq Corporate Solutions’ providers can also offer similar services change that are filed with the
offering and both the companies and to companies, thereby increasing Commission, and all written
Nasdaq Corporate Solutions will benefit competition to the benefit of those communications relating to the
from the ability of the company to companies and their shareholders. proposed rule change between the
utilize the revised services. Moreover, Accordingly, Nasdaq does not believe Commission and any person, other than
because Nasdaq Corporate Solutions the proposed rule change will impose those that may be withheld from the
continues to provide the complimentary any burden on competition that is not public in accordance with the
services to these companies, extending necessary or appropriate in furtherance provisions of 5 U.S.C. 552, will be
their term and providing additional of the purposes of the Act, as amended. available for Web site viewing and
seats and advisory services is a seamless printing in the Commission’s Public
process. On the other hand, companies C. Self-Regulatory Organization’s Reference Room, 100 F Street NE.,
that are not currently receiving Statement on Comments on the Washington, DC 20549, on official
complimentary services from Nasdaq Proposed Rule Change Received From business days between the hours of
Corporate Solutions will have either Members, Participants, or Others 10:00 a.m. and 3:00 p.m. Copies of the
entered into binding contractual No written comments were either filing also will be available for
agreements with Nasdaq Corporate solicited or received. inspection and copying at the principal
Solutions and other providers for the office of the Exchange. All comments
specific services they require or III. Date of Effectiveness of the
Proposed Rule Change and Timing for received will be posted without change;
determined that they do not wish to the Commission does not edit personal
purchase the services. Extending the Commission Action
identifying information from
benefits of the revised rule to such Within 45 days of the date of submissions. You should submit only
companies would cause them to have publication of this notice in the Federal information that you wish to make
duplicative services to what they have Register or within such longer period (i) available publicly. All submissions
already contracted or provide them with as the Commission may designate up to should refer to File Number SR–
the option for a service that they have 90 days of such date if it finds such NASDAQ–2016–098 and should be
already concluded they do not want. longer period to be appropriate and submitted on or before August 18, 2016.
Accordingly, providing the benefit of publishes its reasons for so finding or
For the Commission, by the Division of
the changes only to those companies (ii) as to which the Exchange consents,
Trading and Markets, pursuant to delegated
receiving services when the proposed the Commission shall: (a) By order authority.25
rule change is approved is not unfairly approve or disapprove such proposed
Brent J. Fields,
discriminatory. rule change, or (b) institute proceedings
Secretary.
to determine whether the proposed rule
B. Self-Regulatory Organization’s [FR Doc. 2016–17822 Filed 7–27–16; 8:45 am]
change should be disapproved.
Statement on Burden on Competition BILLING CODE 8011–01–P
Nasdaq does not believe that the IV. Solicitation of Comments
proposed rule change will result in any Interested persons are invited to
burden on competition that is not submit written data, views, and SECURITIES AND EXCHANGE
necessary or appropriate in furtherance arguments concerning the foregoing, COMMISSION
of the purposes of the Act, as amended. including whether the proposed rule
As described in the statutory basis change is consistent with the Act. Submission for OMB Review;
section, above, the proposed rule change Comments may be submitted by any of Comment Request
responds to competitive pressures in the the following methods: Upon Written Request, Copies Available
market for listings. Nasdaq believes the From: Securities and Exchange
Electronic Comments
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proposed changes will result in a more Commission, Office of FOIA Services,
enticing package for potential listings • Use the Commission’s Internet
100 F Street NE., Washington, DC
and therefore will enhance competition comment form (http://www.sec.gov/
20549–2736.
among listing exchanges. The proposed rules/sro.shtml); or
• Send an email to rule-comments@ Extension:
24 Exchange Act Release No. 72669, 79 FR at sec.gov. Please include File Number SR–
44236. NASDAQ–2016–098 on the subject line. 25 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 81, No. 145 / Thursday, July 28, 2016 / Notices 49709

Rule 15Ba2–5, SEC File No. 270–91, OMB directed to: (i) Desk Officer for the While changes to the Pricing
Control No. 3235–0088. Securities and Exchange Commission, Schedule pursuant to this proposal are
Notice is hereby given that pursuant Office of Information and Regulatory effective upon filing, the Exchange has
to the Paperwork Reduction Act of 1995 Affairs, Office of Management and designated these changes to be operative
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Budget, Room 10102, New Executive on August 1, 2016.
Securities and Exchange Commission Office Building, Washington, DC 20503, The text of the proposed rule change
(‘‘Commission’’) has submitted to the or by sending an email to: Shagufta_ is available on the Exchange’s Web site
Office of Management and Budget Ahmed@omb.eop.gov; and (ii) Pamela at http://nasdaqphlx.cchwallstreet
(‘‘OMB’’) a request for approval of Dyson, Director/Chief Information .com/, at the principal office of the
extension of the existing collection of Officer, Securities and Exchange Exchange, and at the Commission’s
information provided for in Rule Commission, c/o Remi Pavlik-Simon, Public Reference Room.
15Ba2–5 (17 CFR 240.15Ba2–5), under 100 F Street NE., Washington, DC
II. Self-Regulatory Organization’s
the Securities Exchange Act of 1934 (15 20549, or by sending an email to: PRA_
Statement of the Purpose of, and
U.S.C. 78a et seq.) (‘‘Exchange Act’’). Mailbox@sec.gov. Comments must be
Statutory Basis for, the Proposed Rule
On July 7, 1976, effective July 16, submitted to OMB within 30 days of
this notice. Change
1976 (see 41 FR 28948, July 14, 1976),
In its filing with the Commission, the
the Commission adopted Rule 15Ba2–5 Dated: July 22, 2016.
Exchange included statements
under the Exchange Act to permit a Brent J. Fields,
concerning the purpose of and basis for
duly-appointed fiduciary to assume Secretary.
the proposed rule change and discussed
immediate responsibility for the [FR Doc. 2016–17820 Filed 7–27–16; 8:45 am] any comments it received on the
operation of a municipal securities BILLING CODE 8011–01–P proposed rule change. The text of these
dealer’s business. Without the rule, the
statements may be examined at the
fiduciary would not be able to assume
places specified in Item IV below. The
operation until it registered as a SECURITIES AND EXCHANGE Exchange has prepared summaries, set
municipal securities dealer. Under the COMMISSION forth in sections A, B, and C below, of
rule, the registration of a municipal
[Release No. 34–78394; File No. SR–Phlx– the most significant aspects of such
securities dealer is deemed to be the 2016–77] statements.
registration of any executor,
administrator, guardian, conservator, Self-Regulatory Organizations; A. Self-Regulatory Organization’s
assignee for the benefit of creditors, NASDAQ PHLX LLC; Notice of Filing Statement of the Purpose of, and
receiver, trustee in insolvency or and Immediate Effectiveness of Statutory Basis for, the Proposed Rule
bankruptcy, or other fiduciary, Proposed Rule Change To Amend Change
appointed or qualified by order, Price Improvement XL Pricing 1. Purpose
judgment, or decree of a court of
competent jurisdiction to continue the July 22, 2016. The purpose of the proposed rule
business of such municipal securities Pursuant to section 19(b)(1) of the change is to amend PIXL Pricing in
dealer, provided that such fiduciary Securities Exchange Act of 1934 section IV, part A, to reduce the Penny
files with the Commission, within 30 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Pilot Options Specialist 4 or Market
days after entering upon the notice is hereby given that, on July 14, Maker 5 Responder fee from $0.30 to
performance of his duties, a statement 2016, NASDAQ PHLX LLC (‘‘Phlx’’ or
setting forth as to such fiduciary ‘‘Exchange’’) filed with the Securities 4 The term ‘‘Specialist’’ shall apply to the account

and Exchange Commission (‘‘SEC’’ or of a Specialist (as defined in Exchange Rule
substantially the same information 1020(a)). A Specialist is an Exchange member who
required by Form MSD or Form BD. The ‘‘Commission’’) the proposed rule is registered as an options specialist pursuant to
statement is necessary to ensure that the change as described in Items I, II, and Rule 501(a). An options Specialist includes a
Commission and the public have III below, which Items have been Remote Specialist which is defined as an options
adequate information about the prepared by the Exchange. The specialist in one or more classes that does not have
Commission is publishing this notice to a physical presence on an Exchange floor and is
fiduciary. approved by the Exchange pursuant to Rule 501.
There is approximately 1 respondent solicit comments on the proposed rule 5 The term ‘‘Market Maker’’ will be utilized to

per year that requires an aggregate total change from interested persons. describe fees and rebates applicable to Registered
Options Traders (‘‘ROTs’’), Streaming Quote
of 4 hours to comply with this rule. This I. Self-Regulatory Organization’s Traders (‘‘SQTs’’), Remote Streaming Quote Traders
respondent makes an estimated 1 Statement of the Terms of the Substance (‘‘RSQTs’’). An ROT is defined in Exchange Rule
annual response. Each response takes of the Proposed Rule Change 1014(b) is a regular member or a foreign currency
approximately 4 hours to complete. options participant of the Exchange located on the
The Exchange proposes to amend the trading floor who has received permission from the
Thus, the total compliance burden per Exchange’s Pricing Schedule at section Exchange to trade in options for his own account.
year is 4 burden hours. The approximate IV, part A, to amend Price Improvement A ROT includes SQTs and RSQTs as well as on and
cost per hour is $20, resulting in a total XL (‘‘PIXL’’) Pricing.3 off-floor ROTS. An SQT is defined in Exchange
internal cost of compliance for the Rule 1014(b)(ii)(A) as an ROT who has received
permission from the Exchange to generate and
respondent of approximately $80 (i.e., 4 1 15
U.S.C. 78s(b)(1). submit option quotations electronically in options
hours × $20). 2 17
CFR 240.19b–4. to which such SQT is assigned. An RSQT is defined
An agency may not conduct or 3 PIXLSM is the Exchange’s price improvement in Exchange Rule in 1014(b)(ii)(B) as an ROT that
sponsor, and a person is not required to mechanism known as Price Improvement XL or is a member affiliated with an RSQTO with no
PIXL. A member may electronically submit for physical trading floor presence who has received
Lhorne on DSK30JT082PROD with NOTICES

respond to, a collection of information execution an order it represents as agent on behalf permission from the Exchange to generate and
under the PRA unless it displays a of a public customer, broker-dealer, or any other submit option quotations electronically in options
currently valid OMB control number. entity (‘‘PIXL Order’’) against principal interest or to which such RSQT has been assigned. A Remote
The public may view background against any other order (except as provided in Rule Streaming Quote Trader Organization or ‘‘RSQTO,’’
1080(n)(i)(F) it represents as agent (‘‘Initiating which may also be referred to as a Remote Market
documentation for this information Order’’), provided it submits the PIXL order for Making Organization (‘‘RMO’’), is a member
collection at the following Web site: electronic execution into the PIXL Auction organization in good standing that satisfies the
www.reginfo.gov. Comments should be pursuant to Rule 1080. See Exchange Rule 1080(n). Continued

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Document Created: 2016-07-28 01:47:24
Document Modified: 2016-07-28 01:47:24

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 49708