81_FR_841 81 FR 837 - Submission for OMB Review; Comment Request

81 FR 837 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 4 (January 7, 2016)

Page Range837-838
FR Document2015-33216

Federal Register, Volume 81 Issue 4 (Thursday, January 7, 2016)
[Federal Register Volume 81, Number 4 (Thursday, January 7, 2016)]
[Notices]
[Pages 837-838]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-33216]


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

SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-247; OMB Control No. 3235-0259]


Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: U.S. Securities and 
Exchange Commission, Office of FOIA Services, 100 F Street NE., 
Washington, DC 20549-2736.

Reinstatement:
    Rule 19h-1

    Notice by a Self-Regulatory Organization of Proposed Admission to 
or Continuance in Membership or Participation or Association with a 
Member of Any Person Subject to a Statutory Disqualification, and 
Applications to the Commission for Relief Therefrom.
    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (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 a reinstatement, with 
change, of a previously approved collection for which approval has 
expired--Rule 19h-1, Notice by a Self-Regulatory Organization of 
Proposed Admission to or Continuance in Membership or Participation or 
Association with a Member of Any Person Subject to a Statutory 
Disqualification, and Applications to the Commission for Relief 
Therefrom (17 CFR 240.19h-1).
    Rule 19h-1 (``Rule'') under the Securities Exchange Act of 1934 
(the ``Exchange Act'') prescribes the form and content of notices and 
applications by self-regulatory organizations (``SROs'') regarding 
proposed admissions to, or continuances in, membership, participation 
or association with a member of any person subject to a statutory 
disqualification.
    The Commission uses the information provided in the submissions 
filed pursuant to Rule 19h-1 to review decisions of SROs to permit the 
entry into or continuance in the securities business of persons who 
have committed serious misconduct. The filings submitted pursuant to 
the Rule also permit inclusion of an application to the Commission for 
consent to associate with a member of an SRO notwithstanding a 
Commission order barring such association.
    The Commission reviews filings made pursuant to the Rule to 
ascertain whether it is in the public interest to permit the employment 
in the securities business of persons subject to a statutory 
disqualification. The filings contain information that is essential to 
the staff's review and ultimate determination on whether an association 
or employment is in the public interest and consistent with investor 
protection. Without these filings, persons subject to a statutory 
disqualification could reenter or continue employment in the securities 
business without the Commission's critical review of their character, 
ability to act as a fiduciary, and their employer's plan of 
supervision. The failure to collect and review this information could 
result in significant harm to the investing public.
    The Commission estimates the annual burden of responding to this 
collection of information is as follows.

[[Page 838]]



                                                  Burden Hours
----------------------------------------------------------------------------------------------------------------
                                                           19h-1(a)(4)--
                                                          Notification of                          19h-1(d)--
                                       19h-1(a)--Notice       proposed                           Application to
                                       of admission or      admission or        19h-1(b)--       the Commission
                                         continuance        continuance        Preliminary      for relief from
                                       notwithstanding    pursuant to  an     notifications    certain statutory
                                         a statutory      exception  from
                                       disqualification      the notice                        disqualifications
                                                            requirements
----------------------------------------------------------------------------------------------------------------
Estimated number of respondents =...                 20                 20                 20                 20
Estimated number of annual responses                 11                  9                 28                  5
 per respondent =...................
Estimated annual reporting burden                    80                 80                 13                 80
 per response =.....................
----------------------------------------------------------------------------------------------------------------


                                                  Burden Hours
----------------------------------------------------------------------------------------------------------------
 
----------------------------------------------------------------------------------------------------------------
Estimated total annual reporting  17,600 (20          14,400 (20          7,280 (20           8,000 (20
 burden =.                         respondents x 11    respondents x 9     respondents x 28    respondents x 5
                                   annual responses    annual responses    annual responses    annual responses
                                   per respondent x    per respondent x    per respondent x    per respondent x
                                   80 hours per        80 hours per        13 hours per        80 hours per
                                   respondent).        respondent).        respondent).        respondent).
----------------------------------------------------------------------------------------------------------------

    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    The public may view background documentation for this information 
collection at the following Web site, www.reginfo.gov. Persons 
submitting comments on the collection of information requirements 
should direct them to (i) the Office of Management and Budget, 
Attention: Desk Officer for the Securities and Exchange Commission, 
Office of Information and Regulatory Affairs, Washington, DC 20503, 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 send an email to: PRA_Mailbox@sec.gov. 
Comments should reference SEC File No. 270-247. Comments must be 
submitted to OMB within 30 days of this notice.

    Dated: December 30, 2015.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-33216 Filed 1-6-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                                                Federal Register / Vol. 81, No. 4 / Thursday, January 7, 2016 / Notices                                                 837

                                               and associated tasks. As such, the                         amendments, all written statements                      (‘‘Commission’’) has submitted to the
                                               proposed revisions would make the                          with respect to the proposed rule                       Office of Management and Budget
                                               examination more efficient and                             change that are filed with the                          (‘‘OMB’’) a request for approval of a
                                               effective.                                                 Commission, and all written                             reinstatement, with change, of a
                                                                                                          communications relating to the                          previously approved collection for
                                               C. Self-Regulatory Organization’s
                                                                                                          proposed rule change between the                        which approval has expired—Rule 19h–
                                               Statement on Comments on the
                                                                                                          Commission and any person, other than                   1, Notice by a Self-Regulatory
                                               Proposed Rule Change Received From
                                                                                                          those that may be withheld from the                     Organization of Proposed Admission to
                                               Members, Participants, or Others
                                                                                                          public in accordance with the                           or Continuance in Membership or
                                                 Written comments were neither                            provisions of 5 U.S.C. 552, will be                     Participation or Association with a
                                               solicited nor received.                                    available for Web site viewing and                      Member of Any Person Subject to a
                                               III. Date of Effectiveness of the                          printing in the Commission’s Public                     Statutory Disqualification, and
                                               Proposed Rule Change and Timing for                        Reference Room, 100 F Street NE.,                       Applications to the Commission for
                                               Commission Action                                          Washington, DC 20549 on official                        Relief Therefrom (17 CFR 240.19h–1).
                                                                                                          business days between the hours of                         Rule 19h–1 (‘‘Rule’’) under the
                                                  The foregoing rule change has become                    10:00 a.m. and 3:00 p.m. Copies of such
                                               effective pursuant to Section 19(b)(3)(A)                                                                          Securities Exchange Act of 1934 (the
                                                                                                          filing also will be available for                       ‘‘Exchange Act’’) prescribes the form
                                               of the Act 24 and paragraph (f)(1) of Rule                 inspection and copying at the principal
                                               19b–4 thereunder.25 At any time within                                                                             and content of notices and applications
                                                                                                          offices of FINRA. All comments                          by self-regulatory organizations
                                               60 days of the filing of the proposed rule                 received will be posted without change;
                                               change, the Commission summarily may                                                                               (‘‘SROs’’) regarding proposed
                                                                                                          the Commission does not edit personal                   admissions to, or continuances in,
                                               temporarily suspend such rule change if                    identifying information from
                                               it appears to the Commission that such                                                                             membership, participation or
                                                                                                          submissions. You should submit only                     association with a member of any
                                               action is necessary or appropriate in the                  information that you wish to make
                                               public interest, for the protection of                                                                             person subject to a statutory
                                                                                                          available publicly. All submissions                     disqualification.
                                               investors, or otherwise in furtherance of                  should refer to File Number SR–FINRA–
                                               the purposes of the Act. If the                            2015–058, and should be submitted on                       The Commission uses the information
                                               Commission takes such action, the                          or before January 28, 2016.                             provided in the submissions filed
                                               Commission shall institute proceedings                                                                             pursuant to Rule 19h–1 to review
                                               to determine whether the proposed rule                        For the Commission, by the Division of               decisions of SROs to permit the entry
                                                                                                          Trading and Markets, pursuant to delegated
                                               should be approved or disapproved.                         authority.26
                                                                                                                                                                  into or continuance in the securities
                                                                                                                                                                  business of persons who have
                                               IV. Solicitation of Comments                               Jill M. Peterson,
                                                                                                                                                                  committed serious misconduct. The
                                                 Interested persons are invited to                        Assistant Secretary.
                                                                                                                                                                  filings submitted pursuant to the Rule
                                               submit written data, views, and                            [FR Doc. 2015–33311 Filed 1–6–16; 8:45 am]              also permit inclusion of an application
                                               arguments concerning the foregoing,                        BILLING CODE 8011–01–P                                  to the Commission for consent to
                                               including whether the proposed rule                                                                                associate with a member of an SRO
                                               change is consistent with the Act.                                                                                 notwithstanding a Commission order
                                               Comments may be submitted by any of                        SECURITIES AND EXCHANGE                                 barring such association.
                                               the following methods:                                     COMMISSION
                                                                                                                                                                     The Commission reviews filings made
                                               Electronic Comments                                        [SEC File No. 270–247; OMB Control No.                  pursuant to the Rule to ascertain
                                                                                                          3235–0259]
                                                 • Use the Commission’s Internet                                                                                  whether it is in the public interest to
                                               comment form (http://www.sec.gov/                          Submission for OMB Review;                              permit the employment in the securities
                                               rules/sro.shtml); or                                       Comment Request                                         business of persons subject to a
                                                 • Send an email to rule-comments@                                                                                statutory disqualification. The filings
                                               sec.gov. Please include File Number SR–                    Upon Written Request Copies Available                   contain information that is essential to
                                               FINRA–2015–058 on the subject line.                         From: U.S. Securities and Exchange                     the staff’s review and ultimate
                                                                                                           Commission, Office of FOIA Services,                   determination on whether an
                                               Paper Comments                                              100 F Street NE., Washington, DC                       association or employment is in the
                                                 • Send paper comments in triplicate                       20549–2736.                                            public interest and consistent with
                                               to Secretary, Securities and Exchange                      Reinstatement:                                          investor protection. Without these
                                               Commission, 100 F Street NE.,                                Rule 19h–1                                            filings, persons subject to a statutory
                                               Washington, DC 20549–1090.                                   Notice by a Self-Regulatory                           disqualification could reenter or
                                               All submissions should refer to File                       Organization of Proposed Admission to                   continue employment in the securities
                                               Number SR–FINRA–2015–058. This file                        or Continuance in Membership or                         business without the Commission’s
                                               number should be included on the                           Participation or Association with a                     critical review of their character, ability
                                               subject line if email is used. To help the                 Member of Any Person Subject to a                       to act as a fiduciary, and their
                                               Commission process and review your                         Statutory Disqualification, and                         employer’s plan of supervision. The
                                               comments more efficiently, please use                      Applications to the Commission for                      failure to collect and review this
                                               only one method. The Commission will                       Relief Therefrom.                                       information could result in significant
                                               post all comments on the Commission’s                        Notice is hereby given that, pursuant                 harm to the investing public.
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                                               Internet Web site (http://www.sec.gov/                     to the Paperwork Reduction Act of 1995                     The Commission estimates the annual
                                               rules/sro.shtml). Copies of the                            (44 U.S.C. 3501 et seq.), the Securities                burden of responding to this collection
                                               submission, all subsequent                                 and Exchange Commission                                 of information is as follows.



                                                 24 15   U.S.C. 78s(b)(3)(A).                               25 17   CFR 240.19b–4(f)(1).                            26 17   CFR 200.30–3(a)(12).



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                                               838                                     Federal Register / Vol. 81, No. 4 / Thursday, January 7, 2016 / Notices

                                                                                                                                            BURDEN HOURS
                                               Estimated number of respondents = ........................................................................                  20                 20                   20                   20
                                               Estimated number of annual responses per respondent = ......................................                                11                  9                   28                    5
                                               Estimated annual reporting burden per response = .................................................                          80                 80                   13                   80


                                                                                                                                            BURDEN HOURS
                                               Estimated total annual report-             17,600 (20 respondents × 11                 14,400 (20 respondents × 9            7,280 (20 respondents × 28      8,000 (20 respondents × 5 an-
                                                 ing burden =.                              annual responses per re-                    annual responses per re-              annual responses per re-        nual responses per respond-
                                                                                            spondent × 80 hours per re-                 spondent × 80 hours per re-           spondent × 13 hours per re-     ent × 80 hours per respond-
                                                                                            spondent).                                  spondent).                            spondent).                      ent).



                                                 The Commission may not conduct or                                     21, 2015, Boston Stock Exchange                                summaries, set forth in sections A, B,
                                               sponsor a collection of information                                     Clearing Corporation (‘‘BSECC’’) filed                         and C below, of the most significant
                                               unless it displays a currently valid                                    with the Securities and Exchange                               aspects of such statements.
                                               control number. No person shall be                                      Commission (‘‘SEC’’ or ‘‘Commission’’)
                                               subject to any penalty for failing to                                   the proposed rule change as described                          A. Self-Regulatory Organization’s
                                               comply with a collection of information                                 in Items I and II below, which Items                           Statement of the Purpose of, and
                                               subject to the PRA that does not display                                have been prepared by BSECC. On                                Statutory Basis for, the Proposed Rule
                                               a valid OMB control number.                                             December 29, 2015, BSECC filed                                 Change
                                                 The public may view background                                        Amendment No. 1 to the proposal.3 The                          1. Purpose
                                               documentation for this information                                      Commission is publishing this notice to
                                               collection at the following Web site,                                   solicit comments on the proposed rule                            The Company is proposing
                                               www.reginfo.gov. Persons submitting                                     change, as modified by Amendment No.                           amendments to certain provisions of its
                                               comments on the collection of                                           1, from interested persons.                                    By-Laws that relate to Director 4
                                               information requirements should direct                                                                                                 classifications.5 Specifically, the
                                                                                                                       I. Self-Regulatory Organization’s
                                               them to (i) the Office of Management                                                                                                   Company proposes to revise Section 4.3
                                                                                                                       Statement of the Terms of Substance of
                                               and Budget, Attention: Desk Officer for                                                                                                of the By-Laws to state that it may,
                                                                                                                       the Proposed Rule Change
                                               the Securities and Exchange
                                                                                                                          BSECC is filing this proposed rule                          rather than shall, include at least one,
                                               Commission, Office of Information and
                                                                                                                       change with respect to amendments of                           but no more than two, Issuer Directors
                                               Regulatory Affairs, Washington, DC
                                               20503, and (ii) Pamela Dyson, Director/                                 the By-Laws (the ‘‘By-Laws’’) of its                           on its Board. In addition, the Company
                                               Chief Information Officer, Securities                                   parent corporation, Nasdaq, Inc.                               proposes to revise Section 4.7 of the By-
                                               and Exchange Commission, c/o Remi                                       (‘‘Nasdaq’’ or the ‘‘Company’’), to revise                     Laws to clarify the procedures when a
                                               Pavlik-Simon, 100 F Street NE.,                                         the requirements regarding Director                            Director’s classification changes
                                               Washington DC, 20549, or send an email                                  classifications. This Amendment No. 1                          between annual meetings of
                                               to: PRA_Mailbox@sec.gov. Comments                                       to SR–BSECC–2015–002 amends and                                stockholders.
                                               should reference SEC File No. 270–247.                                  replaces the original filing in its
                                                                                                                       entirety. The proposed amendments                              i. Section 4.3
                                               Comments must be submitted to OMB
                                               within 30 days of this notice.                                          will be implemented on a date                                    Currently, the Company’s By-Laws
                                                                                                                       designated by the Company following                            require that all of the Company’s
                                                  Dated: December 30, 2015.
                                                                                                                       approval by the Commission. The text of                        Directors be classified as: (i) Industry
                                               Jill M. Peterson,                                                       the proposed rule change is available on
                                               Assistant Secretary.                                                    BSECC’s Web site at http://
                                               [FR Doc. 2015–33216 Filed 1–6–16; 8:45 am]                              nasdaqomxbx.cchwallstreet.com, at the
                                               BILLING CODE 8011–01–P                                                  principal office of BSECC, and at the
                                                                                                                       Commission’s Public Reference Room.
                                               SECURITIES AND EXCHANGE                                                 II. Self-Regulatory Organization’s
                                               COMMISSION                                                              Statement of the Purpose of, and
                                                                                                                       Statutory Basis for, the Proposed Rule
                                               [Release No. 34–76806; File No. SR–                                     Change
                                               BSECC–2015–002)
                                                                                                                          In its filing with the Commission,
                                               Self-Regulatory Organizations; Boston                                   BSECC included statements concerning
                                               Stock Exchange Clearing Corporation;                                    the purpose of and basis for the
                                               Notice of Filing of Proposed Rule                                       proposed rule change and discussed any
                                               Change, as Modified by Amendment                                        comments it received on the proposed                             4 ‘‘Director’’ means a member of the Company’s


                                               No. 1 Thereto, To Amend the By-Laws                                     rule change. The text of these statements                      Board of Directors. See Article I(j) of the By-Laws.
                                                                                                                                                                                        5 The provisions of the Company’s By-Laws that
                                               of Nasdaq, Inc.                                                         may be examined at the places specified
                                                                                                                                                                                      relate to Director classifications are completely
                                                                                                                       in Item IV below. BSECC has prepared
                                               December 31, 2015.                                                                                                                     distinct from the Listing Rules of The NASDAQ
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                                                  Pursuant to Section 19(b)(1) of the                                                                                                 Stock Market. Therefore, the proposed amendments
                                                                                                                         3 Amendment No. 1 amends and replaces the
                                                                                                                                                                                      do not affect in any way the Company’s obligation,
                                               Securities Exchange Act of 1934                                         original filing in its entirety. In Amendment No. 1,
                                                                                                                                                                                      as an issuer listed on The NASDAQ Stock Market,
                                               (‘‘Act’’),1 and Rule 19b–4 thereunder,2                                 BSECC, among other things, clarified the operation
                                                                                                                       of the current and proposed provisions of the By-              to comply with the Listing Rules, and the Company
                                               notice is hereby given that on December                                 Laws of Nasdaq, Inc. and how the proposed rule                 will continue to comply with the Listing Rules,
                                                                                                                       change would operate in conjunction with the                   including provisions relating to corporate
                                                 1 15   U.S.C. 78s(b)(1).                                                                                                             governance, following the effectiveness of the
                                                                                                                       Listing Rules of The NASDAQ Stock Market. See
                                                 2 17   CFR 240.19b–4.                                                 infra, note 5.                                                 proposed By-Law amendments.



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Document Created: 2016-01-07 00:12:59
Document Modified: 2016-01-07 00:12:59
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 837 

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