81_FR_9042 81 FR 9007 - Proposed Collection; Comment Request

81 FR 9007 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 35 (February 23, 2016)

Page Range9007-9007
FR Document2016-03639

Federal Register, Volume 81 Issue 35 (Tuesday, February 23, 2016)
[Federal Register Volume 81, Number 35 (Tuesday, February 23, 2016)]
[Notices]
[Page 9007]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-03639]


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

SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; 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 6h-1, SEC File No. 270-497, OMB Control No. 3235-0555.

    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'') is soliciting comments on the 
existing collection of information provided for in Rule 6h-1 (17 CFR 
240.6h-1) under the Securities Exchange Act of 1934, as amended 
(``Act'') (15 U.S.C. 78a et seq.). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    Section 6(h) of the Act (15 U.S.C. 78f(h)) requires national 
securities exchanges and national securities associations that trade 
security futures products to establish listing standards that, among 
other things, require that: (i) Trading in such products not be readily 
susceptible to price manipulation; and (ii) the market on which the 
security futures product trades has in place procedures to coordinate 
trading halts with the listing market for the security or securities 
underlying the security futures product. Rule 6h-1 implements these 
statutory requirements and requires that (1) the final settlement price 
for each cash-settled security futures product fairly reflect the 
opening price of the underlying security or securities, and (2) the 
exchanges and associations trading security futures products halt 
trading in any security futures product for as long as trading in the 
underlying security, or trading in 50% or more of the underlying 
securities, is halted on the listing market.
    It is estimated that approximately 1 respondent, consisting of a 
designated contract market not already registered as a national 
securities exchange under Section 6(g) of the Exchange Act that seeks 
to list or trade security futures products, will incur an average 
burden of 10 hours per year to comply with this rule, for a total 
burden of 10 hours. At an average cost per hour of approximately $387, 
the resultant total cost of compliance for the respondents is $3,870 
per year (1 respondent x 10 hours/respondent x $387/hour).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    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.
    Please direct your written comments to: 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.

    Dated: February 17, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-03639 Filed 2-22-16; 8:45 am]
BILLING CODE 8011-01-P



                                                                              Federal Register / Vol. 81, No. 35 / Tuesday, February 23, 2016 / Notices                                                  9007

                                                  costs of purchasing or leasing computer                 technology. Consideration will be given               futures product for as long as trading in
                                                  equipment, software, or other record                    to comments and suggestions submitted                 the underlying security, or trading in
                                                  storage equipment for records                           in writing within 60 days of this                     50% or more of the underlying
                                                  maintained in electronic or                             publication.                                          securities, is halted on the listing
                                                  photographic form.                                        Please direct your written comments                 market.
                                                     The Commission expects that a fund                   to Pamela Dyson, Director/Chief
                                                  and its sponsors would incur these costs                                                                         It is estimated that approximately 1
                                                                                                          Information Officer, Securities and
                                                  immediately, and that the annualized                    Exchange Commission, C/O Remi                         respondent, consisting of a designated
                                                  cost of the expenditures would be                       Pavlik-Simon, 100 F Street NE.,                       contract market not already registered as
                                                  $20,000 in the first year. Some                         Washington, DC 20549; or send an email                a national securities exchange under
                                                  expenditures might involve capital                      to: PRA_Mailbox@sec.gov.                              Section 6(g) of the Exchange Act that
                                                  improvements, such as computer                                                                                seeks to list or trade security futures
                                                                                                            Dated: February 17, 2016.
                                                  equipment, having expected useful lives                                                                       products, will incur an average burden
                                                                                                          Robert W. Errett,
                                                  for which annualized figures beyond the                                                                       of 10 hours per year to comply with this
                                                  first year would be meaningful.                         Deputy Secretary.                                     rule, for a total burden of 10 hours. At
                                                     These annualized figures are not                     [FR Doc. 2016–03640 Filed 2–22–16; 8:45 am]           an average cost per hour of
                                                  provided, however, because, in most                     BILLING CODE 8011–01–P                                approximately $387, the resultant total
                                                  cases, the expenses would be incurred                                                                         cost of compliance for the respondents
                                                  immediately rather than on an annual                                                                          is $3,870 per year (1 respondent × 10
                                                  basis. The Commission is not including                  SECURITIES AND EXCHANGE
                                                                                                                                                                hours/respondent × $387/hour).
                                                  these costs in its calculation of the                   COMMISSION
                                                  annualized capital/start-up costs                                                                                Written comments are invited on: (a)
                                                  because no fund has applied under rule                  Proposed Collection; Comment                          Whether the proposed collection of
                                                  7d–1 to register under the Act pursuant                 Request                                               information is necessary for the proper
                                                  to rule 7d–1 in the last three years.                   Upon Written Request, Copies Available                performance of the functions of the
                                                     As indicated above, a Canadian or                     From: Securities and Exchange                        Commission, including whether the
                                                  fund may file a supplemental                             Commission, Office of FOIA Services,                 information shall have practical utility;
                                                  application seeking special relief                       100 F Street NE., Washington, DC                     (b) the accuracy of the Commission’s
                                                  designed for the fund’s particular                       20549–2736.                                          estimates of the burden of the proposed
                                                  circumstances. Rule 7d–1 does not                                                                             collection of information; (c) ways to
                                                                                                          Extension:
                                                  mandate these applications. The active                                                                        enhance the quality, utility, and clarity
                                                                                                            Rule 6h–1, SEC File No. 270–497, OMB
                                                  registrant filed a substantive                              Control No. 3235–0555.                            of the information collected; and (d)
                                                  supplemental application in the past                                                                          ways to minimize the burden of the
                                                  three years. As noted above, the staff                     Notice is hereby given that, pursuant
                                                                                                          to the Paperwork Reduction Act of 1995                collection of information on
                                                  understands that funds generally use                                                                          respondents, including through the use
                                                  outside counsel to prepare the                          (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
                                                                                                          Securities and Exchange Commission                    of automated collection techniques or
                                                  application. The staff estimates that                                                                         other forms of information technology.
                                                  outside counsel spends 10 hours                         (‘‘Commission’’) is soliciting comments
                                                                                                          on the existing collection of information             Consideration will be given to
                                                  preparing a supplemental application,
                                                                                                          provided for in Rule 6h–1 (17 CFR                     comments and suggestions submitted in
                                                  including 8 hours by an associate and 2
                                                                                                          240.6h–1) under the Securities                        writing within 60 days of this
                                                  hours by a partner. Outside counsel
                                                  billing arrangements and rates vary                     Exchange Act of 1934, as amended                      publication.
                                                  based on numerous factors, but the staff                (‘‘Act’’) (15 U.S.C. 78a et seq.). The                   An agency may not conduct or
                                                  has estimated the average cost of outside               Commission plans to submit this                       sponsor, and a person is not required to
                                                  counsel as $400 per hour, based on                      existing collection of information to the             respond to, a collection of information
                                                  information received from funds,                        Office of Management and Budget                       under the PRA unless it displays a
                                                  intermediaries and their counsel. The                   (‘‘OMB’’) for extension and approval.                 currently valid OMB control number.
                                                  Commission staff therefore estimates                       Section 6(h) of the Act (15 U.S.C.
                                                                                                          78f(h)) requires national securities                     Please direct your written comments
                                                  that the fund would obtain assistance                                                                         to: Pamela Dyson, Director/Chief
                                                  from outside counsel at a cost of                       exchanges and national securities
                                                                                                          associations that trade security futures              Information Officer, Securities and
                                                  $4,000.9
                                                     We request written comment on: (a)                   products to establish listing standards               Exchange Commission, c/o Remi Pavlik-
                                                  Whether the collections of information                  that, among other things, require that: (i)           Simon, 100 F Street NE., Washington,
                                                  are necessary for the proper                            Trading in such products not be readily               DC 20549, or send an email to: PRA_
                                                  performance of the functions of the                     susceptible to price manipulation; and                Mailbox@sec.gov.
                                                  Commission, including whether the                       (ii) the market on which the security                   Dated: February 17, 2016.
                                                  information has practical utility; (b) the              futures product trades has in place
                                                                                                                                                                Robert W. Errett,
                                                  accuracy of the Commission’s estimate                   procedures to coordinate trading halts
                                                                                                          with the listing market for the security              Deputy Secretary.
                                                  of the burdens of the collection of
                                                                                                          or securities underlying the security                 [FR Doc. 2016–03639 Filed 2–22–16; 8:45 am]
                                                  information; (c) ways to enhance the
                                                  quality, utility, and clarity of the                    futures product. Rule 6h-1 implements                 BILLING CODE 8011–01–P
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  information collected; and (d) ways to                  these statutory requirements and
                                                  minimize the burden of the collection of                requires that (1) the final settlement
                                                  information on respondents, including                   price for each cash-settled security
                                                  through the use of automated collection                 futures product fairly reflect the
                                                  techniques or other forms of information                opening price of the underlying security
                                                                                                          or securities, and (2) the exchanges and
                                                    9 This estimate is based on the following             associations trading security futures
                                                  calculation: 10 hours × $400 per hour = $4000.          products halt trading in any security


                                             VerDate Sep<11>2014   17:06 Feb 22, 2016   Jkt 238001   PO 00000   Frm 00113   Fmt 4703   Sfmt 9990   E:\FR\FM\23FEN1.SGM   23FEN1



Document Created: 2018-02-02 14:33:35
Document Modified: 2018-02-02 14:33:35
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 9007 

2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR