81 FR 91970 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 243 (December 19, 2016)

Page Range		91970-91971
FR Document		2016-30378

Federal Register, Volume 81 Issue 243 (Monday, December 19, 2016)

[Federal Register Volume 81, Number 243 (Monday, December 19, 2016)]
[Notices]
[Pages 91970-91971]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30378]


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

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:
    Regulation S-AM, SEC File No. 270-548, OMB Control No. 3235-
0609.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and 
Exchange Commission (``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for approval of extension of 
the previously approved collection of information provided for in 
Regulation S-AM (17 CFR part 248, subpart B), under the Fair Credit 
Reporting Act (15 U.S.C. 1681 et seq.) (``FCRA''), the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.), the Investment Company 
Act of 1940 (15 U.S.C. 80a-1 et seq.), and the Investment Advisers Act 
of 1940 (15 U.S.C. 80b-1 et seq.).
    Regulation S-AM implements the requirements of Section 624 of the 
FCRA (15 U.S.C. 1681s-3) with respect to investment advisers and 
transfer agents registered with the Commission, as well as brokers, 
dealers and investment companies (collectively, ``Covered Persons''). 
Section 624 and Regulation S-AM limit a Covered Person's use of certain 
consumer financial information received from an affiliate to solicit a 
consumer for marketing purposes, unless the consumer has been given 
notice and a reasonable opportunity and a reasonable and simple method 
to opt out of such solicitations. Regulation S-AM potentially applies 
to all of the approximately 32,061 Covered Persons registered with the 
Commission, although only approximately 17,954 of them have one or more 
corporate affiliates, and the regulation requires only approximately 
3,206 to provide consumers with an affiliate marketing notice and an 
opt-out opportunity.
    The Commission staff estimates that there are approximately 17,954 
Covered Persons having one or more affiliates, and that they each spend 
an average of 0.20 hours per year to review affiliate marketing 
practices, for, collectively, an estimated annual time burden of 3,591 
hours at an annual internal staff cost of approximately $1,798,991. The 
staff also estimates that approximately 3,206 Covered Persons provide 
notice and opt-out opportunities to consumers, and that they each spend 
an average of 7.6 hours per year creating notices, providing notices 
and opt-out opportunities, monitoring the opt-out notice process, 
making and updating records of opt-out elections, and addressing 
consumer questions and concerns about opt-out notices, for, 
collectively, an estimated annual time burden of 24,366 hours at an 
annual internal staff cost of approximately $4,489,806. Thus, the staff 
estimates that the collection of information requires a total of 
approximately 17,954 respondents to incur an estimated annual time 
burden of a total of 27,957 hours at a total annual internal cost of 
compliance of approximately $6,288,897.
    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.

[[Page 91971]]

    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: December 6, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-30378 Filed 12-16-16; 8:45 am]
 BILLING CODE 8011-01-P

91970 Federal Register / Vol. 81, No. 243 / Monday, December 19, 2016 / Notices

transactions on the floor of the post all comments on the Commission’s Reporting Act (15 U.S.C. 1681 et seq.)
Exchange. Furthermore, any perceived Internet Web site (http://www.sec.gov/ (‘‘FCRA’’), the Securities Exchange Act
burden on Floor Brokers or Market- rules/sro.shtml). Copies of the of 1934 (15 U.S.C. 78a et seq.), the
Makers is misplaced because Floor submission, all subsequent Investment Company Act of 1940 (15
Brokers and Market-makers are no amendments, all written statements U.S.C. 80a–1 et seq.), and the
worse off from this proposal as both with respect to the proposed rule Investment Advisers Act of 1940 (15
parties are currently held responsible change that are filed with the U.S.C. 80b–1 et seq.).
for book priority and trade-through Commission, and all written Regulation S–AM implements the
violations. The Exchange does not communications relating to the requirements of Section 624 of the
believe that the proposed change will proposed rule change between the FCRA (15 U.S.C. 1681s–3) with respect
impose any burden on intermarket Commission and any person, other than to investment advisers and transfer
competition because it only applies to those that may be withheld from the agents registered with the Commission,
trading on CBOE. public in accordance with the as well as brokers, dealers and
provisions of 5 U.S.C. 552, will be investment companies (collectively,
C. Self-Regulatory Organization’s ‘‘Covered Persons’’). Section 624 and
available for Web site viewing and
Statement on Comments on the Regulation S–AM limit a Covered
printing in the Commission’s Public
Proposed Rule Change Received From Person’s use of certain consumer
Reference Room, 100 F Street NE.,
Members, Participants, or Others financial information received from an
Washington, DC 20549, on official
The Exchange neither solicited nor business days between the hours of affiliate to solicit a consumer for
received comments on the proposed 10:00 a.m. and 3:00 p.m. Copies of the marketing purposes, unless the
rule change. filing also will be available for consumer has been given notice and a
inspection and copying at the principal reasonable opportunity and a reasonable
III. Date of Effectiveness of the and simple method to opt out of such
Proposed Rule Change and Timing for office of the Exchange. All comments
received will be posted without change; solicitations. Regulation S–AM
Commission Action potentially applies to all of the
the Commission does not edit personal
Within 45 days of the date of identifying information from approximately 32,061 Covered Persons
publication of this notice in the Federal submissions. You should submit only registered with the Commission,
Register or within such longer period information that you wish to make although only approximately 17,954 of
up to 90 days (i) as the Commission may available publicly. All submissions them have one or more corporate
designate if it finds such longer period should refer to File Number SR–CBOE– affiliates, and the regulation requires
to be appropriate and publishes its 2016–082 and should be submitted on only approximately 3,206 to provide
reasons for so finding or (ii) as to which or beforeJanuary 9, 2017. consumers with an affiliate marketing
the Exchange consents, the Commission notice and an opt-out opportunity.
will: For the Commission, by the Division of The Commission staff estimates that
Trading and Markets, pursuant to delegated there are approximately 17,954 Covered
A. By order approve or disapprove
authority.10
such proposed rule change, or Persons having one or more affiliates,
B. institute proceedings to determine Eduardo A. Aleman, and that they each spend an average of
whether the proposed rule change Assistant Secretary. 0.20 hours per year to review affiliate
should be disapproved. [FR Doc. 2016–30393 Filed 12–16–16; 8:45 am] marketing practices, for, collectively, an
BILLING CODE 8011–01–P estimated annual time burden of 3,591
IV. Solicitation of Comments hours at an annual internal staff cost of
Interested persons are invited to approximately $1,798,991. The staff also
submit written data, views, and SECURITIES AND EXCHANGE estimates that approximately 3,206
arguments concerning the foregoing, COMMISSION Covered Persons provide notice and opt-
including whether the proposed rule out opportunities to consumers, and
change is consistent with the Act. Submission for OMB Review; that they each spend an average of 7.6
Comments may be submitted by any of Comment Request hours per year creating notices,
the following methods: Upon Written Request, Copies Available providing notices and opt-out
From: Securities and Exchange opportunities, monitoring the opt-out
Electronic Comments
Commission, Office of FOIA Services, notice process, making and updating
• Use the Commission’s Internet records of opt-out elections, and
100 F Street NE., Washington, DC
comment form (http://www.sec.gov/ addressing consumer questions and
20549–2736.
rules/sro.shtml); or concerns about opt-out notices, for,
• Send an email to rule-comments@ Extension: collectively, an estimated annual time
sec.gov. Please include File Number SR– Regulation S–AM, SEC File No. 270–548, burden of 24,366 hours at an annual
CBOE–2016–082 on the subject line. OMB Control No. 3235–0609.
internal staff cost of approximately
Notice is hereby given that, pursuant $4,489,806. Thus, the staff estimates
Paper Comments
to the Paperwork Reduction Act of 1995 that the collection of information
• Send paper comments in triplicate (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the requires a total of approximately 17,954
to Secretary, Securities and Exchange Securities and Exchange Commission respondents to incur an estimated
Commission, 100 F Street NE., (‘‘Commission’’) has submitted to the annual time burden of a total of 27,957
Washington, DC 20549–1090.
sradovich on DSK3GMQ082PROD with NOTICES

Office of Management and Budget hours at a total annual internal cost of
All submissions should refer to File (‘‘OMB’’) a request for approval of compliance of approximately
Number SR–CBOE–2016–082. This file extension of the previously approved $6,288,897.
number should be included on the collection of information provided for in An agency may not conduct or
subject line if email is used. To help the Regulation S–AM (17 CFR part 248, sponsor, and a person is not required to
Commission process and review your subpart B), under the Fair Credit respond to, a collection of information
comments more efficiently, please use under the PRA unless it displays a
only one method. The Commission will 10 17 CFR 200.30–3(a)(12). currently valid OMB control number.

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Federal Register / Vol. 81, No. 243 / Monday, December 19, 2016 / Notices 91971

The public may view background information barriers between their SECURITIES AND EXCHANGE
documentation for this information affiliates. COMMISSION
collection at the following Web site: There are approximately 998 [Release No. 34–79537; File No. SR–
www.reginfo.gov. Comments should be respondents per year that require an BatsEDGX–2016–70]
directed to: (i) Desk Officer for the aggregate total of 1,898 hours to comply
Securities and Exchange Commission, Self-Regulatory Organizations; Bats
with this rule. Each respondent makes
Office of Information and Regulatory EDGX Exchange, Inc.; Notice of Filing
an estimated 1 annual response. Each
Affairs, Office of Management and and Immediate Effectiveness of a
Budget, Room 10102, New Executive response takes on average
approximately 1.902 hours to complete. Proposed Rule Change To Amend
Office Building, Washington, DC 20503, Exchange Rule 11.22(b) Regarding the
or by sending an email to: Shagufta_ Thus, the total compliance burden per
year is 1,898 burden hours. The total Data Collection Requirements of the
Ahmed@omb.eop.gov; and (ii) Pamela Regulation NMS Plan To Implement a
Dyson, Director/Chief Information internal compliance cost for all
Tick Size Pilot Program
Officer, Securities and Exchange respondents is approximately
Commission, c/o Remi Pavlik-Simon, $123,370.00, resulting in an internal December 13, 2016.
100 F Street NE., Washington, DC cost of compliance per response of Pursuant to Section 19(b)(1) of the
20549, or by sending an email to: PRA_ approximately $124.00 (i.e., Securities Exchange Act of 1934 (the
Mailbox@sec.gov. Comments must be $123,370.00/998 responses). ‘‘Act’’),1 and Rule 19b–4 thereunder,2
submitted to OMB within 30 days of Written comments are invited on: (a) notice is hereby given that on November
this notice. Whether the proposed collection of 30, 2016, Bats EDGX Exchange, Inc. (the
Dated: December 6, 2016. information is necessary for the proper ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
Brent J. Fields, performance of the functions of the
(‘‘Commission’’) the proposed rule
Secretary. Commission, including whether the
change as described in Items I and II
[FR Doc. 2016–30378 Filed 12–16–16; 8:45 am] information shall have practical utility;
below, which Items have been prepared
BILLING CODE 8011–01–P (b) the accuracy of the Commission’s by the Exchange. The Exchange has
estimates of the burden of the proposed designated this proposal as a ‘‘non-
collection of information; (c) ways to controversial’’ proposed rule change
SECURITIES AND EXCHANGE enhance the quality, utility, and clarity pursuant to Section 19(b)(3)(A) of the
COMMISSION of the information collected; and (d) Act 3 and Rule 19b–4(f)(6)(iii)
ways to minimize the burden of the thereunder,4 which renders it effective
Proposed Collection; Comment collection of information on
Request upon filing with the Commission. The
respondents, including through the use Commission is publishing this notice to
Upon Written Request, Copies Available of automated collection techniques or solicit comments on the proposed rule
From: Securities and Exchange other forms of information technology. change from interested persons.
Commission, Office of FOIA Services, Consideration will be given to
I. Self-Regulatory Organization’s
100 F Street NE., Washington, DC comments and suggestions submitted in
Statement of the Terms of Substance of
20549–2736. writing within 60 days of this the Proposed Rule Change
publication.
Extension: The Exchange filed a proposal to
Rule 102, SEC File No. 270–409, OMB An agency may not conduct or amend Exchange Rule 11.22(b)
Control No. 3235–0467. sponsor, and a person is not required to regarding the data collection
respond to, a collection of information requirements of the Regulation NMS
Notice is hereby given that pursuant
under the PRA unless it displays a Plan to Implement a Tick Size Pilot
to the Paperwork Reduction Act of 1995
currently valid OMB control number. Program (‘‘Plan’’).
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission Please direct your written comments The text of the proposed rule change
(‘‘Commission’’) is soliciting comments to: Pamela Dyson, Director/Chief is available at the Exchange’s Web site
on the existing collection of information Information Officer, Securities and at www.batstrading.com, at the
provided for in Rule 102 of Regulation Exchange Commission, c/o Remi Pavlik- principal office of the Exchange, and at
M (17 CFR 242.102), under the Simon, 100 F Street NE., Washington, the Commission’s Public Reference
Securities Exchange Act of 1934 (15 DC 20549 or send an email to: Room.
U.S.C. 78a et seq.). The Commission PRA_Mailbox@sec.gov. II. Self-Regulatory Organization’s
plans to submit this existing collection Statement of the Purpose of, and
Dated: December 6, 2016.
of information to the Office of Statutory Basis for, the Proposed Rule
Management and Budget (‘‘OMB’’) for Brent J. Fields,
Change
extension and approval. Secretary.
[FR Doc. 2016–30371 Filed 12–16–16; 8:45 am] In its filing with the Commission, the
Rule 102—Activities by Issuers and Exchange included statements
Selling Security Holders During a BILLING CODE 8011–01–P
concerning the purpose of and basis for
Distribution—prohibits distribution the proposed rule change and discussed
participants, issuers, and selling any comments it received on the
security holders from purchasing
sradovich on DSK3GMQ082PROD with NOTICES

proposed rule change. The text of these
activities at specified times during a statements may be examined at the
distribution of securities. Persons places specified in Item IV below. The
otherwise covered by these rules may
seek to use several applicable 1 15 U.S.C. 78s(b)(1).
exceptions such as exclusion for 2 17 CFR 240.19b–4.
actively traded reference securities and 3 15 U.S.C. 78s(b)(3)(A).

the maintenance of policies regarding 4 17 CFR 240.19b–4(f)(6)(iii).

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Document Created: 2016-12-17 03:15:40
Document Modified: 2016-12-17 03:15:40

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 91970