82 FR 47264 - Sunshine Act Meetings

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 195 (October 11, 2017)

Page Range		47264-47264
FR Document		2017-21988

Federal Register, Volume 82 Issue 195 (Wednesday, October 11, 2017)

[Federal Register Volume 82, Number 195 (Wednesday, October 11, 2017)]
[Notices]
[Page 47264]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-21988]



[[Page 47264]]

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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings

TIME AND DATE: Investor Advisory Committee will hold a meeting 9:30 
a.m. on Thursday, October 12, 2017.

PLACE: Multi-Purpose Room LL-006 at the Commission's headquarters, 100 
F Street NE., Washington, DC 20549.

STATUS: This meeting will be open to the public. Seating will be on a 
first-come, first-served basis. Doors will open at 9:00 a.m. Visitors 
will be subject to security checks. The meeting will be webcast on the 
Commission's Web site at www.sec.gov.

MATTERS TO BE CONSIDERED: On September 12, 2017, the Commission issued 
notice of the Committee meeting (Release No. 33-10412), indicating that 
the meeting is open to the public (except during that portion of the 
meeting reserved for an administrative work session during lunch), and 
inviting the public to submit written comments to the Committee. This 
Sunshine Act notice is being issued because a quorum of the Commission 
may attend the meeting.
    The agenda for the meeting includes: Remarks from Commissioners; a 
discussion regarding blockchain and other distributed ledger technology 
and implications for securities markets; an overview of law school 
clinic advocacy efforts on behalf of retail investors; a discussion 
regarding electronic delivery of information to retail investors (which 
may include a recommendation of the Investor as Purchaser 
Subcommittee); subcommittee reports; and a nonpublic administrative 
work session during lunch.

CONTACT PERSON FOR MORE INFORMATION: For further information and to 
ascertain what, if any, matters have been added, deleted or postponed; 
please contact Brent J. Fields from the Office of the Secretary at 
(202) 551-5400.

    Dated: October 5, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017-21988 Filed 10-6-17; 11:15 am]
 BILLING CODE 8011-01-P

47264 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices

SECURITIES AND EXCHANGE 100 F Street NE., Washington, DC document takes no more than two
COMMISSION 20549–2736 minutes. Thus, the total associated
Extension: burden is approximately 2 minutes per
Sunshine Act Meetings Rule 15g–2, SEC File No. 270–381, OMB response, or an aggregate total of 312
Control No. 3235–0434 minutes per respondent. Since there are
TIME AND DATE: Investor Advisory 198 respondents, the current annual
Committee will hold a meeting 9:30 a.m. Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995 burden is 61,776 minutes (312 minutes
on Thursday, October 12, 2017. per each of the 198 respondents) or
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
PLACE: Multi-Purpose Room LL–006 at Securities and Exchange Commission 1,030 hours for this third party
the Commission’s headquarters, 100 F disclosure burden. In addition, broker-
(‘‘Commission’’) has submitted to the
Street NE., Washington, DC 20549. dealers incur a recordkeeping burden of
Office of Management and Budget
approximately two minutes per
STATUS: This meeting will be open to the (‘‘OMB’’) a request for extension of the
response when filing the completed
public. Seating will be on a first-come, previously approved collection of
penny stock disclosure documents as
first-served basis. Doors will open at information provided for in Rule 15g–2
required pursuant to the Rule
9:00 a.m. Visitors will be subject to (17 CFR 240.15g–2) under the Securities
15(g)(2)(c), which requires a broker-
security checks. The meeting will be Exchange Act of 1934 (15 U.S.C. 78a et
dealer to preserve a copy of the written
webcast on the Commission’s Web site seq.) (‘‘Exchange Act’’). Rule 15g–2 (The
acknowledgement pursuant to Rule
at www.sec.gov. ‘‘Penny Stock Disclosure Rule’’) requires
17a–4(b) of the Exchange Act. Since
MATTERS TO BE CONSIDERED: On
broker-dealers to provide their there are approximately 156 responses
September 12, 2017, the Commission customers with a risk disclosure for each respondent, the respondents
issued notice of the Committee meeting document, as set forth in Schedule 15G, incur an aggregate recordkeeping
(Release No. 33–10412), indicating that prior to their first non-exempt burden of 61,776 minutes (198
the meeting is open to the public transaction in a ‘‘penny stock.’’ As respondents × 156 responses for each ×
(except during that portion of the amended, the rule requires broker- 2 minutes per response) or 1,030 hours,
meeting reserved for an administrative dealers to obtain written under Rule 15g–2. Accordingly, the
work session during lunch), and acknowledgement from the customer current aggregate annual hour burden
inviting the public to submit written that he or she has received the required associated with Rule 15g–2 (assuming
comments to the Committee. This risk disclosure document. The amended that all respondents provide tangible
Sunshine Act notice is being issued rule also requires broker-dealers to copies of the required documents) is
because a quorum of the Commission maintain a copy of the customer’s approximately 2,060 hours (1,030 third
may attend the meeting. written acknowledgement for at least party disclosure hours + 1,030
three years following the date on which recordkeeping hours).
The agenda for the meeting includes:
the risk disclosure document was The burden hours associated with
Remarks from Commissioners; a
provided to the customer, the first two Rule 15g–2 may be slightly reduced
discussion regarding blockchain and
years in an accessible place. Rule 15g– when the penny stock disclosure
other distributed ledger technology and
2 also requires a broker-dealer, upon document required under the rule is
implications for securities markets; an
request of a customer, to furnish the provided through electronic means such
overview of law school clinic advocacy
customer with a copy of certain as email from the broker-dealer (e.g., the
efforts on behalf of retail investors; a
information set forth on the broker-dealer respondent may take only
discussion regarding electronic delivery
Commission’s Web site. one minute, instead of the two minutes
of information to retail investors (which The risk disclosure documents are for
may include a recommendation of the estimated above, to provide the penny
the benefit of the customers, to assure stock disclosure document by email to
Investor as Purchaser Subcommittee); that they are aware of the risks of
subcommittee reports; and a nonpublic its customer). In this regard, if each of
trading in ‘‘penny stocks’’ before they the customer respondents estimated
administrative work session during enter into a transaction. The risk
lunch. above communicates with his or her
disclosure documents are maintained by broker-dealer electronically, the total
CONTACT PERSON FOR MORE INFORMATION: the broker-dealers and may be reviewed ongoing respondent burden is
For further information and to ascertain during the course of an examination by approximately 1 minute per response, or
what, if any, matters have been added, the Commission. an aggregate total of 156 minutes (156
deleted or postponed; please contact There are approximately 198 broker- customers × 1 minutes per respondent).
Brent J. Fields from the Office of the dealers that could potentially be subject Assuming 198 respondents, the annual
Secretary at (202) 551–5400. to current Rule 15g–2. The Commission third party disclosure burden, if
Dated: October 5, 2017. estimates that approximately 5% of electronic communications were used
Brent J. Fields, registered broker-dealers are engaged in by all customers, is 30,888 minutes (156
penny stock transactions, and thereby minutes per each of the 198
Secretary.
subject to the Rule (5% × approximately respondents) or 515 hours. If all
[FR Doc. 2017–21988 Filed 10–6–17; 11:15 am]
3,969 registered broker-dealers = 198 respondents were to use electronic
BILLING CODE 8011–01–P
broker-dealers). The Commission means, the recordkeeping burden would
estimates that each one of these firms be 61,776 minutes or 1,030 hours (the
asabaliauskas on DSKBBXCHB2PROD with NOTICES

processes an average of three new same as above). Thus, if all broker-
SECURITIES AND EXCHANGE
customers for penny stocks per week. dealer respondents obtain and send the
COMMISSION
Thus, each respondent processes documents required under the rules
Submission for OMB Review; approximately 156 penny stock electronically, the aggregate annual hour
Comment Request disclosure documents per year. If burden associated with Rule 15g–2 is
communications in tangible form alone 1,545 (515 hours + 1,030 hours).
Upon Written Request, Copies Available are used to satisfy the requirements of In addition, if the penny stock
From: U.S. Securities and Exchange Rule 15g–2, then the copying and customer requests a paper copy of the
Commission, Office of FOIA Services, mailing of the penny stock disclosure information on the Commission’s Web

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Document Created: 2018-10-25 10:00:18
Document Modified: 2018-10-25 10:00:18

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
Dates		Investor Advisory Committee will hold a meeting 9:30 a.m. on Thursday, October 12, 2017.
FR Citation		82 FR 47264