82 FR 14045 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 50 (March 16, 2017)

Page Range		14045-14045
FR Document		2017-05269

Federal Register, Volume 82 Issue 50 (Thursday, March 16, 2017)

[Federal Register Volume 82, Number 50 (Thursday, March 16, 2017)]
[Notices]
[Page 14045]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05269]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 15c3-3, SEC File No. 270-087, OMB Control No. 3235-0078

    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'') is soliciting comments on the existing collection of 
information provided for in Rule 15c3-3 (17 CFR 240.15c3-3), under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act''). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 15c3-3 requires that a broker-dealer that holds customer 
securities obtain and maintain possession and control of fully-paid and 
excess margin securities they hold for customers. In addition, the Rule 
requires that a broker-dealer that holds customer funds make either a 
weekly or monthly computation to determine whether certain customer 
funds need to be segregated in a special reserve bank account for the 
exclusive benefit of the firm's customers. It also requires that a 
broker-dealer maintain a written notification from each bank where a 
Special Reserve Bank Account is held acknowledging that all assets in 
the account are for the exclusive benefit of the broker-dealer's 
customers, and to provide written notification to the Commission (and 
its designated examining authority) under certain, specified 
circumstances. Finally, broker-dealers that sell securities futures 
products (``SFP'') to customers must provide certain notifications to 
customers and make a record of any changes of account type.
    A broker-dealer required to maintain the Special Reserve Bank 
Account prescribed by Rule 15c3-3 must obtain and retain a written 
notification from each bank in which it has a Special Reserve Bank 
Account to evidence the bank's acknowledgement that assets deposited in 
the Account are being held by the bank for the exclusive benefit of the 
broker-dealer's customers. In addition, a broker-dealer must 
immediately notify the Commission and its designated examining 
authority if it fails to make a required deposit to its Special Reserve 
Bank Account. Finally, a broker-dealer that effects transactions in 
SFPs for customers also will have paperwork burdens to make a record of 
each change in account type.
    The Commission staff estimates a total annual time burden of 
517,348 hours and an aggregate cost of $1,433,254 to comply with the 
rule.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
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: [email protected].

    Dated: March 13, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05269 Filed 3-15-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 50 / Thursday, March 16, 2017 / Notices 14045

transactions with the Fund of Funds.3 Notice is hereby given that pursuant information shall have practical utility;
The purchase of Creation Units by a to the Paperwork Reduction Act of 1995 (b) the accuracy of the agency’s estimate
Fund of Funds directly from a Fund will (44 U.S.C. 3501 et seq.) the Securities of the burden of the proposed collection
be accomplished in accordance with the and Exchange Commission of information; (c) ways to enhance the
policies of the Fund of Funds and will (‘‘Commission’’) is soliciting comments quality, utility, and clarity of the
be based on the NAVs of the Funds. on the existing collection of information information to be collected; and (d)
9. Section 6(c) of the Act permits the provided for in Rule 15c3–3 (17 CFR ways to minimize the burden of the
Commission to exempt any persons or 240.15c3–3), under the Securities collection of information on
transactions from any provision of the Exchange Act of 1934 (15 U.S.C. 78a et respondents, including through the use
Act if such exemption is necessary or seq.) (‘‘Exchange Act’’). The of automated collection techniques or
appropriate in the public interest and Commission plans to submit this other forms of information technology.
consistent with the protection of existing collection of information to the Consideration will be given to
investors and the purposes fairly Office of Management and Budget comments and suggestions submitted in
intended by the policy and provisions of (‘‘OMB’’) for extension and approval. writing within 60 days of this
the Act. Section 12(d)(1)(J) of the Act Rule 15c3–3 requires that a broker- publication.
provides that the Commission may dealer that holds customer securities An agency may not conduct or
exempt any person, security, or obtain and maintain possession and sponsor, and a person is not required to
transaction, or any class or classes of control of fully-paid and excess margin respond to, a collection of information
persons, securities, or transactions, from securities they hold for customers. In under the PRA unless it displays a
any provision of section 12(d)(1) if the addition, the Rule requires that a broker- currently valid OMB control number.
exemption is consistent with the public dealer that holds customer funds make Please direct your written comments
interest and the protection of investors. either a weekly or monthly computation to: Pamela Dyson, Director/Chief
Section 17(b) of the Act authorizes the to determine whether certain customer Information Officer, Securities and
Commission to grant an order funds need to be segregated in a special Exchange Commission, c/o Remi Pavlik-
permitting a transaction otherwise reserve bank account for the exclusive Simon, 100 F Street NE., Washington,
benefit of the firm’s customers. It also DC 20549, or send an email to: PRA_
prohibited by section 17(a) if it finds
requires that a broker-dealer maintain a Mailbox@sec.gov.
that (a) the terms of the proposed
written notification from each bank
transaction are fair and reasonable and Dated: March 13, 2017.
where a Special Reserve Bank Account
do not involve overreaching on the part Eduardo A. Aleman,
is held acknowledging that all assets in
of any person concerned; (b) the
the account are for the exclusive benefit Assistant Secretary.
proposed transaction is consistent with
of the broker-dealer’s customers, and to [FR Doc. 2017–05269 Filed 3–15–17; 8:45 am]
the policies of each registered
provide written notification to the BILLING CODE 8011–01–P
investment company involved; and (c)
Commission (and its designated
the proposed transaction is consistent
examining authority) under certain,
with the general purposes of the Act. specified circumstances. Finally, broker- SECURITIES AND EXCHANGE
For the Commission, by the Division of dealers that sell securities futures COMMISSION
Investment Management, under delegated products (‘‘SFP’’) to customers must
authority. provide certain notifications to [Release No. 34–80205; File No. SR–
Eduardo A. Aleman, customers and make a record of any BatsBZX–2017–17]
Assistant Secretary. changes of account type.
[FR Doc. 2017–05207 Filed 3–15–17; 8:45 am] A broker-dealer required to maintain Self-Regulatory Organizations; Bats
BILLING CODE 8011–01–P the Special Reserve Bank Account BZX Exchange, Inc.; Notice of Filing
prescribed by Rule 15c3–3 must obtain and Immediate Effectiveness of a
and retain a written notification from Proposed Rule Change Related to Fees
SECURITIES AND EXCHANGE each bank in which it has a Special for Use on the Exchange’s Equity
COMMISSION Reserve Bank Account to evidence the Options Platform
bank’s acknowledgement that assets
Proposed Collection; Comment deposited in the Account are being held March 10, 2017.
Request by the bank for the exclusive benefit of Pursuant to Section 19(b)(1) of the
the broker-dealer’s customers. In Securities Exchange Act of 1934 (the
Upon Written Request, Copies Available addition, a broker-dealer must ‘‘Act’’),1 and Rule 19b–4 thereunder,2
From: Securities and Exchange immediately notify the Commission and notice is hereby given that on March 1,
Commission, Office of Investor its designated examining authority if it 2017, Bats BZX Exchange, Inc. (the
Education and Advocacy, fails to make a required deposit to its ‘‘Exchange’’ or ‘‘BZX’’) filed with the
Washington, DC 20549–0213. Special Reserve Bank Account. Finally, Securities and Exchange Commission
Extension: a broker-dealer that effects transactions (the ‘‘Commission’’) the proposed rule
Rule 15c3–3, SEC File No. 270–087, OMB in SFPs for customers also will have change as described in Items I, II, and
Control No. 3235–0078 paperwork burdens to make a record of III below, which Items have been
each change in account type. prepared by the Exchange. The
3 The requested relief would apply to direct sales
The Commission staff estimates a total Exchange has designated the proposed
of shares in Creation Units by a Fund to a Fund of annual time burden of 517,348 hours
mstockstill on DSK3G9T082PROD with NOTICES

rule change as one establishing or
Funds and redemptions of those shares. Applicants,
moreover, are not seeking relief from section 17(a) and an aggregate cost of $1,433,254 to changing a member due, fee, or other
for, and the requested relief will not apply to, comply with the rule. charge imposed by the Exchange under
transactions where a Fund could be deemed an Written comments are invited on: (a) Section 19(b)(3)(A)(ii) of the Act 3 and
Affiliated Person, or a Second-Tier Affiliate, of a Whether the proposed collection of
Fund of Funds because an Adviser or an entity
controlling, controlled by or under common control
information is necessary for the proper 1 15 U.S.C. 78s(b)(1).
with an Adviser provides investment advisory performance of the functions of the 2 17 CFR 240.19b–4.
services to that Fund of Funds. agency, including whether the 3 15 U.S.C. 78s(b)(3)(A)(ii).

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Document Created: 2017-03-16 02:18:36
Document Modified: 2017-03-16 02:18:36

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		82 FR 14045