82_FR_28835 82 FR 28715 - Submission for OMB Review; Comment Request

82 FR 28715 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 120 (June 23, 2017)

Page Range28715-28716
FR Document2017-13144

Federal Register, Volume 82 Issue 120 (Friday, June 23, 2017) 
[Federal Register Volume 82, Number 120 (Friday, June 23, 2017)]
[Notices]
[Pages 28715-28716]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-13144]


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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:
    Rule 701. SEC File No. 270-306, OMB Control No. 3235-0522.

    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 this request for extension of the previously approved 
collection of information discussed below.
    Rule 701(17 CFR 230.701) under the Securities Act of 1933 
(``Securities Act'') (15 U.S.C. 77a et seq.) provides an exemption for 
certain issuers from the registration requirements of the Securities 
Act for limited offerings and sales of securities issued under 
compensatory benefit plans or contracts. The purpose of Rule 701 is to 
ensure that a basic level of information is available to employees and 
others when substantial amounts of securities are issued in 
compensatory arrangements. Information provided under Rule 701 is 
mandatory. We estimate that approximately 300 companies annually rely 
on the Rule 701 exemption and that it takes 2 hours to prepare each 
response. We estimate that 25% of the 2 hours per response (0.5 hours) 
is prepared by the company for a total annual reporting burden of 150 
hours (0.5 hours per response x 300 responses).
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.

[[Page 28716]]

    The public may view the 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 send an email 
to: [email protected]. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: June 19, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-13144 Filed 6-22-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 120 / Friday, June 23, 2017 / Notices 28715 2, and facilitating more efficient At any time within 60 days of the submissions. You should submit only regulatory compliance by its members.24 filing of the proposed rule change, the information that you wish to make Additionally, the modernization of Commission summarily may available publicly. Rule 1049 promotes just and equitable temporarily suspend such rule change if All submissions should refer to File principles of trade, removes it appears to the Commission that such Number SR–Phlx–2017–39 and should impediments to and perfects the action is: (i) Necessary or appropriate in be submitted on or before July 14, 2017. mechanism of a free and open market the public interest; (ii) for the protection For the Commission, by the Division of and a national market system, and of investors; or (iii) otherwise in Trading and Markets, pursuant to delegated protects investors and the public furtherance of the purposes of the Act. authority.27 interest, because it is designed to alert If the Commission takes such action, the Eduardo A. Aleman, members to requirements with respect Commission shall institute proceedings Assistant Secretary. to options communications and to bring to determine whether the proposed rule [FR Doc. 2017–13103 Filed 6–22–17; 8:45 am] clarity to its members and the public should be approved or disapproved. BILLING CODE 8011–01–P regarding the Exchange’s options IV. Solicitation of Comments communications rule. The Exchange therefore believes that the proposed rule Interested persons are invited to SECURITIES AND EXCHANGE change will help ensure that investors submit written data, views, and COMMISSION are protected from potentially false or arguments concerning the foregoing, misleading communications with the including whether the proposed rule Submission for OMB Review; change is consistent with the Act. Comment Request public distributed by Exchange Comments may be submitted by any of members. Upon Written Request Copies Available the following methods: B. Self-Regulatory Organization’s From: Securities and Exchange Electronic Comments Commission, Office of FOIA Services, Statement on Burden on Competition • Use the Commission’s Internet 100 F Street NE., Washington, DC The Exchange does not believe that comment form (http://www.sec.gov/ 20549–2736. the amendments to Rule 1049 proposed rules/sro.shtml); or Extension: herein will impose any burden on • Send an email to rule-comments@ Rule 701. SEC File No. 270–306, OMB competition not necessary or sec.gov. Please include File Number SR– Control No. 3235–0522. appropriate in furtherance of the Phlx–2017–39 on the subject line. purposes of the Act inasmuch as the Notice is hereby given that, pursuant amendments conform Rule 1049 more Paper Comments to the Paperwork Reduction Act of 1995 closely to the Common Rules regarding • Send paper comments in triplicate (44 U.S.C. 3501 et seq.), the Securities to Secretary, Securities and Exchange and Exchange Commission options communications to customers Commission, 100 F Street NE., (‘‘Commission’’) has submitted to the under the 17d–2 Agreement. Office of Management and Budget this Washington, DC 20549–1090. C. Self-Regulatory Organization’s request for extension of the previously Statement on Comments on the All submissions should refer to File approved collection of information Proposed Rule Change Received From Number SR–Phlx–2017–39. This file discussed below. Members, Participants, or Others number should be included on the Rule 701(17 CFR 230.701) under the subject line if email is used. To help the Securities Act of 1933 (‘‘Securities Act’’) No written comments were either Commission process and review your (15 U.S.C. 77a et seq.) provides an solicited or received. comments more efficiently, please use exemption for certain issuers from the III. Date of Effectiveness of the only one method. The Commission will registration requirements of the Proposed Rule Change and Timing for post all comments on the Commission’s Securities Act for limited offerings and Commission Action Internet Web site (http://www.sec.gov/ sales of securities issued under rules/sro.shtml). Copies of the compensatory benefit plans or contracts. Because the foregoing proposed rule submission, all subsequent The purpose of Rule 701 is to ensure change does not: (i) Significantly affect amendments, all written statements that a basic level of information is the protection of investors or the public with respect to the proposed rule available to employees and others when interest; (ii) impose any significant change that are filed with the substantial amounts of securities are burden on competition; and (iii) become Commission, and all written issued in compensatory arrangements. operative for 30 days from the date on communications relating to the Information provided under Rule 701 is which it was filed, or such shorter time proposed rule change between the mandatory. We estimate that as the Commission may designate, it has Commission and any person, other than approximately 300 companies annually become effective pursuant to Section those that may be withheld from the rely on the Rule 701 exemption and that 19(b)(3)(A)(iii) of the Act 25 and public in accordance with the it takes 2 hours to prepare each subparagraph (f)(6) of Rule 19b–4 provisions of 5 U.S.C. 552, will be response. We estimate that 25% of the thereunder.26 available for Web site viewing and 2 hours per response (0.5 hours) is printing in the Commission’s Public prepared by the company for a total 24 CBOE Rule 9.21 and FINRA Rules 2360(b)(18) Reference Room, 100 F Street NE., annual reporting burden of 150 hours and 2354 are designated as Common Rules under (0.5 hours per response × 300 asabaliauskas on DSKBBXCHB2PROD with NOTICES Washington, DC 20549, on official the 17d–2 Agreement. 25 15 U.S.C. 78s(b)(3)(A)(iii). business days between the hours of responses). 26 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 10:00 a.m. and 3:00 p.m. Copies of the An agency may not conduct or 4(f)(6) requires a self-regulatory organization to give filing also will be available for sponsor, and a person is not required to the Commission written notice of its intent to file inspection and copying at the principal respond to, a collection of information the proposed rule change at least five business days office of the Exchange. All comments unless it displays a currently valid prior to the date of filing of the proposed rule change, or such shorter time as designated by the received will be posted without change; control number. Commission. The Exchange has satisfied this the Commission does not edit personal requirement. identifying information from 27 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 19:21 Jun 22, 2017 Jkt 241001 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 E:\FR\FM\23JNN1.SGM 23JNN1

28716 Federal Register / Vol. 82, No. 120 / Friday, June 23, 2017 / Notices The public may view the background II. Self-Regulatory Organization’s to the greater of (i) the proportion of the documentation for this information Statement of the Purpose of, and total size at the best price represented collection at the following Web site, Statutory Basis for, the Proposed Rule by the size of its quote, or (ii) sixty www.reginfo.gov . Comments should be Change percent (60%) of the contracts to be directed to: (i) Desk Officer for the In its filing with the Commission, the allocated if there is only one (1) other Securities and Exchange Commission, Professional Order or market maker Exchange included statements Office of Information and Regulatory quotation at the best price, forty percent concerning the purpose of and basis for Affairs, Office of Management and (40%) if there are two (2) other the proposed rule change and discussed Budget, Room 10102, New Executive Professional Orders and/or market any comments it received on the Office Building, Washington, DC 20503, maker quotes at the best price, and proposed rule change. The text of these or by sending an email to: Shagufta_ thirty percent (30%) if there are more statements may be examined at the Ahmed@omb.eop.gov; and (ii) Pamela than two (2) other Professional Orders places specified in Item IV below. The Dyson, Director/Chief Information and/or market maker quotes at the best Exchange has prepared summaries, set Officer, Securities and Exchange price. Alternatively, orders for five (5) forth in sections A, B, and C below, of Commission, c/o Remi Pavlik-Simon, contracts or fewer will be executed first the most significant aspects of such by the PMM, if he is present at that 100 F Street NE., Washington, DC 20549 statements. or send an email to: PRA_Mailbox@ price. sec.gov. Comments must be submitted to A. Self-Regulatory Organization’s This enhanced allocation was OMB within 30 days of this notice. Statement of the Purpose of, and intended for the PMM when orders are Statutory Basis for, the Proposed Rule allocated in the regular market, and not Dated: June 19, 2017. Change for the allocation of an order exposed Eduardo A. Aleman, pursuant to Supplementary Material .02 Assistant Secretary. 1. Purpose to Rule 1901 (i.e., the Flash auction). [FR Doc. 2017–13144 Filed 6–22–17; 8:45 am] The purpose of the proposed rule The Exchange has notified members and BILLING CODE 8011–01–P change is to amend Chapter 19 to notify the Commission of this systems issue members of a systems issue related to pursuant to Regulation SCI. The allocations made pursuant to purpose of the proposed rule change is SECURITIES AND EXCHANGE Supplementary Material .02(a)–(b) to to provide additional notification to COMMISSION Rule 1901 (‘‘Flash auction’’). Pursuant members by noting in Chapter 19 of the [Release No. 34–80965; File No. SR–MRX– to Supplementary Material .02 to Rule Exchange’s rulebook the discrepancy 2017–07] 1901, when the automatic execution of between the allocation described in the an incoming order would result in an rule and the allocation currently being Self-Regulatory Organizations; Nasdaq impermissible Trade Through,3 such given by the Exchange’s trading system. MRX, LLC; Notice of Filing and order is exposed at the current national The Exchange is currently migrating its Immediate Effectiveness of Proposed best bid or offer (‘‘NBBO’’) to all trading system to the Nasdaq INET Rule Change To Amend Chapter 19 members, and members are given an architecture, and the allocation issue opportunity to enter responses up to the will be resolved as symbols start trading June 19, 2017. on INET in Q3 2017. In the interim, the size of the order being exposed. Pursuant to Section 19(b)(1) of the Supplementary Material .02(a)–(b) to Exchange proposes to add language to Securities Exchange Act of 1934 Rule 1901 provides that interest Chapter 19 to notify members that until (‘‘Act’’),1 and Rule 19b–4 thereunder,2 executed in the Flash auction is such time as symbols are migrated to notice is hereby given that on June 6, allocated in price priority, and, at the INET, Flash auction allocations 2017, Nasdaq MRX, LLC (‘‘MRX’’ or same price, Priority Customer orders pursuant to Supplementary Material ‘‘Exchange’’) filed with the Securities will be executed first in time priority .02(a)–(b) to Rule 1901 will not be and Exchange Commission (‘‘SEC’’ or and then all other interest (orders, provided as described in that rule. ‘‘Commission’’) the proposed rule quotes, and responses) will be allocated Instead, PMM quotes will be given a change as described in Items I and II pro-rata based on size. Currently, Flash auction allocation pursuant to below, which Items have been prepared however, the system is erroneously Supplementary Material .01(b)–(c) to by the Exchange. The Commission is providing the Primary Market Maker Rule 713 after Priority Customer Orders publishing this notice to solicit (‘‘PMM’’) an enhanced allocation after on the book, and ahead of Responses, comments on the proposed rule change Priority Customer Orders on the book, Professional Orders, and other market from interested persons. and ahead of Responses, Professional maker quotes, until such time as Orders, and other market maker quotes. symbols are migrated to the INET I. Self-Regulatory Organization’s Specifically, the PMM is being trading system. The Exchange believes Statement of the Terms of Substance of erroneously given participation rights in that this language will reduce member the Proposed Rule Change a Flash auction pursuant to confusion regarding how allocations The Exchange proposes to amend Supplementary Material .01(b)–(c) to will be processed prior to the resolution Chapter 19 to notify members of a Rule 713, which results in the PMM of this systems issue. systems issue related to allocations receiving a potentially larger share of made pursuant to Supplementary 2. Statutory Basis the order to be executed. That is, if the asabaliauskas on DSKBBXCHB2PROD with NOTICES Material .02(a)–(b) to Rule 1901. The Exchange believes that the PMM is quoting at the best price and the proposed rule change is consistent with The text of the proposed rule change conditions in Supplementary Material is available on the Exchange’s Web site the requirements of the Act and the .01(b)–(c) to Rule 713 are satisfied, the rules and regulations thereunder that at www.ise.com, at the principal office PMM is given participation rights equal of the Exchange, and at the are applicable to a national securities Commission’s Public Reference Room. 3 ‘‘Trade-Through’’ means a transaction in an exchange, and, in particular, with the option series at a price that is lower than a requirements of Section 6(b) of the Act.4 1 15 U.S.C. 78s(b)(1). Protected Bid or higher than a Protected Offer. See 2 17 CFR 240.19b–4. Rule 1900(q). 4 15 U.S.C. 78f(b). VerDate Sep<11>2014 19:21 Jun 22, 2017 Jkt 241001 PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 E:\FR\FM\23JNN1.SGM 23JNN1


Document Created: 2017-06-23 03:37:16
Document Modified: 2017-06-23 03:37:16
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 Citation82 FR 28715 
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