81 FR 548 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 3 (January 6, 2016)

Page Range		548-549
FR Document		2015-33213

Federal Register, Volume 81 Issue 3 (Wednesday, January 6, 2016)

[Federal Register Volume 81, Number 3 (Wednesday, January 6, 2016)]
[Notices]
[Pages 548-549]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-33213]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-149, OMB Control No. 3235-0130]


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 17Ad-2(c), (d), and (h).

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), 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 
17Ad-2(c), (d), and (h), (17 CFR 240.17Ad-2(c), (d), and (h)), under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17Ad-2(c),(d) and (h) enumerates the requirements with which 
registered transfer agents must comply to inform the Commission or the 
appropriate regulator of a transfer agent's failure to meet the minimum 
performance standards set by the Commission rule by filing a notice.
    The Commission receives approximately 3 notices a year pursuant to 
Rule 17Ad-2(c), (d), and (h). The estimated annual time burden of these 
filings on respondents is minimal in view of: (a) The readily available 
nature of most of the information required to be included in the notice 
(since that information must be compiled and retained pursuant to other 
Commission rules); and (b) the summary fashion in which such 
information must be presented in the notice (most notices are one page 
or less in length). In light of the above, and based on the experience 
of the staff regarding the notices, the Commission staff estimates 
that, on average, most notices require approximately one-half hour to 
prepare. Thus, the Commission staff estimates that the industry-wide 
total time burden is approximately 1.5 hours.
    The retention period for the recordkeeping requirement under Rule 
17Ad-2(c), (d), and (h) is not less than two years following the date 
the notice is submitted. The recordkeeping requirement under this rule 
is mandatory to assist the Commission in monitoring transfer agents who 
fail to meet the minimum performance standards set by the Commission 
rule. This rule does not involve the collection of confidential 
information. A transfer agent is not required to file under the rule 
unless it does not meet the minimum performance standards for 
turnaround, processing or forwarding items received for transfer during 
a month.
    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,

[[Page 549]]

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: December 30, 2015.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-33213 Filed 1-5-16; 8:45 am]
BILLING CODE 8011-01-P

548 Federal Register / Vol. 81, No. 3 / Wednesday, January 6, 2016 / Notices

on the part of BDs with order flow, since Commission, 100 F Street NE., Securities and Exchange Commission
they may readily reduce costs by Washington, DC 20549–1090. (‘‘Commission’’) has submitted to the
directing orders toward the lowest-cost All submissions should refer to File Office of Management and Budget
trading venues. A BD that shifted its Number SR–NASDAQ–2015–158. This (‘‘OMB’’) a request for approval of
order flow from one platform to another file number should be included on the extension of the previously approved
in response to order execution price subject line if email is used. To help the collection of information provided for in
differentials would both reduce the Commission process and review your Rule 17Ad–2(c), (d), and (h), (17 CFR
value of that platform’s market data and comments more efficiently, please use 240.17Ad–2(c), (d), and (h)), under the
reduce its own need to consume data only one method. The Commission will Securities Exchange Act of 1934 (15
from the disfavored platform. If a post all comments on the Commission’s U.S.C. 78a et seq.).
platform increases its market data fees, Internet Web site (http://www.sec.gov/ Rule 17Ad–2(c),(d) and (h)
the change will affect the overall cost of rules/sro.shtml). Copies of the enumerates the requirements with
doing business with the platform, and submission, all subsequent which registered transfer agents must
affected BDs will assess whether they amendments, all written statements comply to inform the Commission or the
can lower their trading costs by with respect to the proposed rule appropriate regulator of a transfer
directing orders elsewhere and thereby change that are filed with the agent’s failure to meet the minimum
lessening the need for the more Commission, and all written performance standards set by the
expensive data. communications relating to the Commission rule by filing a notice.
proposed rule change between the The Commission receives
C. Self-Regulatory Organization’s Commission and any person, other than approximately 3 notices a year pursuant
Statement on Comments on the those that may be withheld from the to Rule 17Ad–2(c), (d), and (h). The
Proposed Rule Change Received From public in accordance with the estimated annual time burden of these
Members, Participants, or Others provisions of 5 U.S.C. 552, will be filings on respondents is minimal in
Written comments were neither available for Web site viewing and view of: (a) The readily available nature
solicited nor received. printing in the Commission’s Public of most of the information required to be
Reference Room on official business included in the notice (since that
III. Date of Effectiveness of the days between the hours of 10:00 a.m. information must be compiled and
Proposed Rule Change and Timing for and 3:00 p.m. Copies of such filing also retained pursuant to other Commission
Commission Action will be available for inspection and rules); and (b) the summary fashion in
The foregoing rule change has become copying at the principal offices of the which such information must be
effective pursuant to Section Exchange. All comments received will presented in the notice (most notices are
19(b)(3)(A)(ii) of the Act.10 At any time be posted without change; the one page or less in length). In light of
Commission does not edit personal the above, and based on the experience
within 60 days of the filing of the
identifying information from of the staff regarding the notices, the
proposed rule change, the Commission
submissions. You should submit only Commission staff estimates that, on
summarily may temporarily suspend
information that you wish to make average, most notices require
such rule change if it appears to the
available publicly. All submissions approximately one-half hour to prepare.
Commission that such action is
should refer to File Number SR– Thus, the Commission staff estimates
necessary or appropriate in the public
NASDAQ–2015–158, and should be that the industry-wide total time burden
interest, for the protection of investors,
submitted onor before January 27, 2016. is approximately 1.5 hours.
or otherwise in furtherance of the The retention period for the
purposes of the Act. If the Commission For the Commission, by the Division of recordkeeping requirement under Rule
takes such action, the Commission shall Trading and Markets, pursuant to delegated 17Ad–2(c), (d), and (h) is not less than
institute proceedings to determine authority.11
two years following the date the notice
whether the proposed rule should be Jill M. Peterson, is submitted. The recordkeeping
approved or disapproved. Assistant Secretary. requirement under this rule is
[FR Doc. 2015–33208 Filed 1–5–16; 8:45 am] mandatory to assist the Commission in
IV. Solicitation of Comments
BILLING CODE 8011–01–P monitoring transfer agents who fail to
Interested persons are invited to meet the minimum performance
submit written data, views, and standards set by the Commission rule.
arguments concerning the foregoing, SECURITIES AND EXCHANGE This rule does not involve the collection
including whether the proposed rule COMMISSION of confidential information. A transfer
change, as amended, is consistent with agent is not required to file under the
[SEC File No. 270–149, OMB Control No.
the Act. Comments may be submitted by 3235–0130] rule unless it does not meet the
any of the following methods: minimum performance standards for
Electronic Comments Submission for OMB Review; turnaround, processing or forwarding
Comment Request items received for transfer during a
• Use the Commission’s Internet month.
comment form (http://www.sec.gov/ Upon Written Request, Copies Available
From: Securities and Exchange An agency may not conduct or
rules/sro.shtml); or sponsor, and a person is not required to
• Send an email to rule-comments@ Commission, Office of FOIA Services,
100 F Street NE., Washington, DC respond to, a collection of information
sec.gov. Please include File Number SR–
mstockstill on DSK4VPTVN1PROD with NOTICES

20549–2736. under the PRA unless it displays a
NASDAQ–2015–158 on the subject line. currently valid OMB control number.
Extension: Rule 17Ad–2(c), (d), and (h). The public may view background
Paper Comments
Notice is hereby given that pursuant documentation for this information
• Send paper comments in triplicate to the Paperwork Reduction Act of 1995 collection at the following Web site:
to Secretary, Securities and Exchange (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
10 15 U.S.C. 78s(b)(3)(a)(ii). 11 17 CFR 200.30–3(a)(12). Securities and Exchange Commission,

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Federal Register / Vol. 81, No. 3 / Wednesday, January 6, 2016 / Notices 549

Office of Information and Regulatory Options Floor Broker shall not accept an with the public, including Floor
Affairs, Office of Management and order from any other source unless he Brokers, and will continue to do so
Budget, Room 10102, New Executive is the nominee of a member under the amended rule. In addition, in
Office Building, Washington, DC 20503, organization qualified to transact order to do business with the public,
or by sending an email to: Shagufta_ business with the public in which event Floor Brokers must abide by the Phlx
Ahmed@omb.eop.gov; and (ii) Pamela he may accept orders from public rules pertaining to handling of customer
Dyson, Director/Chief Information customers of the organization]. orders, including fidelity bond
Officer, Securities and Exchange * * * * * coverage,7 annual audits,8 approval of
Commission, c/o Remi Pavlik-Simon, the opening of accounts,9 supervision of
100 F Street NE., Washington, DC II. Self-Regulatory Organization’s accounts 10 and communications to
20549, or by sending an email to: PRA_ Statement of the Purpose of, and customers.11
Mailbox@sec.gov. Comments must be Statutory Basis for, the Proposed Rule The Exchange does not believe it is
submitted to OMB within 30 days of Change necessary to list in Rule 1060 from what
this notice. In its filing with the Commission, the type of market participant a Floor
Dated: December 30, 2015. Exchange included statements Broker may receive orders, because a
Jill M. Peterson, concerning the purpose of and basis for Floor Broker can accept orders from any
the proposed rule change and discussed type of market participant. It would be
Assistant Secretary.
any comments it received on the superfluous to add such a list. The rules
[FR Doc. 2015–33213 Filed 1–5–16; 8:45 am]
proposed rule change. The text of these applicable to doing business with the
BILLING CODE 8011–01–P public apply to Floor Brokers and their
statements may be examined at the
places specified in Item IV below. The member organization regardless of
Exchange has prepared summaries, set whether such rules are specifically
SECURITIES AND EXCHANGE
forth in sections A, B, and C below, of listed in Rule 1060.
COMMISSION
the most significant aspects of such Rule 1060 also provides that an
[Release No. 34–76800; File No. SR–Phlx– statements. Options Floor Broker shall not accept an
2015–114] order from any other source unless the
A. Self-Regulatory Organization’s Floor Broker is the nominee of a
Self-Regulatory Organizations; Statement of the Purpose of, and member organization qualified to
NASDAQ OMX PHLX LLC; Notice of Statutory Basis for, the Proposed Rule transact business with the public in
Filing and Immediate Effectiveness of Change which event the Floor Broker may
Proposed Rule Change To Amend Rule 1. Purpose accept orders from public customers of
1060 the organization. The Exchange believes
The purpose of the proposal is to
December 30, 2015. update Phlx Rule 1060, Floor Broker that this provision is incorrect in a
Pursuant to section 19(b)(1) of the Defined, which is incorrect in a number number of respects. The term
Securities Exchange Act of 1934 of ways. Other than the implementation ‘‘nominee’’ is no longer used, except
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 of the Exchange’s Options Floor Broker with reference to inactive nominees,
notice is hereby given that on December Management System,3 the rule has not which is a separate status, unrelated to
21, 2015, NASDAQ OMX PHLX LLC been updated since its adoption in 1984. defining a Floor Broker.12 Prior to 2004,
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the Currently, the rule provides that Floor the Exchange had a different ownership
Securities and Exchange Commission Brokers are registered as such for the and membership structure, such that the
(‘‘SEC’’ or ‘‘Commission’’) the proposed purpose of accepting and handling term ‘‘nominee’’ was sometimes used.
rule change as described in Items I, II, options orders received from members Specifically, a nominee of a member
and III, below, which Items have been and member organizations.4 In actuality, organization was, in essence, a member.
prepared by the Exchange. The Floor Brokers have long been accepting Furthermore, the Floor Broker, not
Commission is publishing this notice to orders from non-members/member just his member organization, must be
solicit comments on the proposed rule organizations. Specifically, Floor qualified to accept orders from the
change from interested persons. Brokers accept orders from broker- public.13 In addition, a Floor Broker’s
dealers who are not Phlx members or ability to accept orders from the public
I. Self-Regulatory Organization’s is not limited to accepting orders from
member organizations; they have long
Statement of the Terms of the Substance public customers of the Floor Broker’s
done so.5 No additional rules apply as
of the Proposed Rule Change member organization. As explained
a result of accepting orders from non-
The Exchange proposes to update member broker-dealers. above, a Floor Broker may accept orders
Phlx Rule 1060, as described further In addition, Floor Brokers accept from the public provided the Floor
below. The text of the proposed rule orders from non-broker-dealer Broker is properly qualified to do so and
change is below; proposed deletions are customers (meaning, the public). In abides by the rules pertaining to
in brackets. order to do so, Floor Brokers must be handling of such orders.14
* * * * * properly qualified to do business with Accordingly, the Exchange is deleting
the public.6 These qualification the last sentence of Rule 1060.
Rule 1060. Floor Broker Defined requirements apply to all members and In sum, the updated rule will
An Options Floor Broker is an member organizations that do business continue to state that an Options Floor
mstockstill on DSK4VPTVN1PROD with NOTICES

individual who is registered with the 7 See Rule 705.
Exchange for the purpose, while on the 3 Securities Exchange Act Release No. 69471
8 See Rule 712.
Options Floor, of accepting and (April 29, 2013), 78 FR 26096 (May 3, 2013) (SR–
9 See Rule 1024(b).
Phlx–2013–09).
handling options orders [received from 4 See Rules 1(n) and (o). 10 See Rule 1025.

members and member organizations. An 5 CBOE Floor Brokers are similarly permitted to 11 See Rule 1049.
12 See Rules 1(l) and 925.
accept orders from non-member broker-dealers. See
1 15 U.S.C. 78s(b)(1). CBOE Rule 6.70. 13 See Rule 613.
2 17 CFR 240.19b–4. 6 See e.g., Rules 613, 620 and 1024(a). 14 See supra notes 5–10.

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Document Created: 2016-01-06 04:01:50
Document Modified: 2016-01-06 04:01:50

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 548