82 FR 53545 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 220 (November 16, 2017)
Federal Register Volume 82, Issue 220 (November 16, 2017)
| Page Range | 53545-53546 | |
| FR Document | 2017-24752 |
[Federal Register Volume 82, Number 220 (Thursday, November 16, 2017)] [Notices] [Pages 53545-53546] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-24752] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange [[Page 53546]] Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549-2736 Extension: Rule 17f-2(d); SEC File No. 270-36, OMB Control No. 3235-0028 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 Rule 17f- 2(d) (17 CFR 240.17f-2(d)), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17f-2(d) requires that records created pursuant to the fingerprinting requirements of Section 17(f)(2) of the Act be maintained and preserved by every member of a national securities exchange, broker, dealer, registered transfer agent and registered clearing agency (``covered entities'' or ``respondents''); permits, under certain circumstances, the records required to be maintained and preserved by a member of a national securities exchange, broker, or dealer to be maintained and preserved by a self-regulatory organization that is also the designated examining authority for that member, broker or dealer; and permits the required records to be preserved on microfilm. The general purpose of Rule 17f-2 is to: (i) Identify security risk personnel; (ii) provide criminal record information so that employers can make fully informed employment decisions; and (iii) deter persons with criminal records from seeking employment or association with covered entities. The rule enables the Commission or other examining authority to ascertain whether all covered persons are being fingerprinted and whether proper procedures regarding fingerprinting are being followed. Retention of these records for a period of not less than three years after termination of a covered person's employment or relationship with a covered entity ensures that law enforcement officials will have easy access to fingerprint cards on a timely basis. This in turn acts as an effective deterrent to employee misconduct. Approximately 4,200 respondents are subject to the recordkeeping requirements of the rule. Each respondent maintains approximately 68 new records per year, each of which takes approximately 2 minutes per record to maintain, for an annual burden of approximately 2.2666667 hours (68 records times 2 minutes). The total annual burden for all respondents is approximately 9,520 (4,200 respondents times 2.2666667 hours). As noted above, all records maintained subject to the rule must be retained for a period of not less than three years after termination of a covered person's employment or relationship with a covered entity. In addition, we estimate the total cost to respondents is approximately $42,000 in third party storage costs. 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. 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: November 9, 2017. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-24752 Filed 11-15-17; 8:45 am] BILLING CODE P
![Federal Register / Vol. 82, No. 220 / Thursday, November 16, 2017 / Notices 53545
reference to Rule 1038, previously necessary or appropriate in furtherance • Send an email to rule-comments@
deleted from the rulebook.7 of the purposes of the Act. The sec.gov. Please include File Number SR–
proposed rule change permits market Phlx–2017–87 on the subject line.
2. Statutory Basis
participants to continue to execute
The Exchange believes that its Paper Comments
cabinet trades on the Exchange, even
proposal is consistent with Section 6(b) without the participation of specialists. • Send paper comments in triplicate
of the Act,8 in general, and furthers the The proposed amendments will apply to to Secretary, Securities and Exchange
objectives of Section 6(b)(5) of the Act,9 all Floor Brokers equally and in the Commission, 100 F Street NE.,
in particular, in that it is designed to same way. Phlx notes that market Washington, DC 20549–1090.
promote just and equitable principles of participants may also execute cabinet All submissions should refer to File
trade, to remove impediments to and transactions on other exchanges. Number SR–Phlx–2017–87. This file
perfect the mechanism of a free and number should be included on the
C. Self-Regulatory Organization’s
open market and a national market subject line if email is used. To help the
Statement on Comments on the
system, and, in general to protect Commission process and review your
Proposed Rule Change Received From
investors and the public interest, by comments more efficiently, please use
Members, Participants, or Others
providing detailed procedures for only one method. The Commission will
cabinet trades without the participation No written comments were either post all comments on the Commission’s
of specialists. As noted above, solicited or received. Internet Web site (http://www.sec.gov/
specialists are no longer common on the III. Date of Effectiveness of the rules/sro.shtml). Copies of the
trading floor. By adopting the proposed Proposed Rule Change and Timing for submission, all subsequent
amendments to the cabinet rules Commission Action amendments, all written statements
detailed above, the Exchange will with respect to the proposed rule
maintain the ability for market Because the foregoing proposed rule change that are filed with the
participants to close out positions in change does not: (i) Significantly affect Commission, and all written
which the value of the contract is less the protection of investors or the public communications relating to the
than the value of the contract at the interest; (ii) impose any significant proposed rule change between the
burden on competition; and (iii) become Commission and any person, other than
minimum increment. The proposed rule
operative for 30 days from the date on those that may be withheld from the
change will conform the description of
which it was filed, or such shorter time public in accordance with the
procedures in Rule 1059 to actual
as the Commission may designate, it has provisions of 5 U.S.C. 552, will be
current practice. The proposed rule
become effective pursuant to Section available for Web site viewing and
change permits market participants to
19(b)(3)(A)(iii) of the Act 10 and printing in the Commission’s Public
continue to execute cabinet trades on
subparagraph (f)(6) of Rule 19b-4 Reference Room, 100 F Street NE.,
the Exchange, even without the
thereunder.11 Washington, DC 20549, on official
participation of specialists. The changes At any time within 60 days of the
to the priority in which cabinet rules are business days between the hours of
filing of the proposed rule change, the
executed are necessary in view of the 10:00 a.m. and 3:00 p.m. Copies of the
Commission summarily may
new procedures for execution of cabinet filing also will be available for
temporarily suspend such rule change if
trades without the participation of a inspection and copying at the principal
it appears to the Commission that such
specialist. The proposed amendments action is: (i) Necessary or appropriate in office of the Exchange. All comments
promote just and equitable principles of the public interest; (ii) for the protection received will be posted without change.
trade by setting forth priority rules for of investors; or (iii) otherwise in Persons submitting comments are
trade executions, and by requiring use furtherance of the purposes of the Act. cautioned that we do not redact or edit
of Exchange designated cabinet If the Commission takes such action, the personal identifying information from
transaction forms to record information Commission shall institute proceedings comment submissions. You should
and the submission of the forms to to determine whether the proposed rule submit only information that you wish
Nasdaq Market Operations staff for the should be approved or disapproved. to make available publicly. All
clearance and reporting of the cabinet submissions should refer to File
trades. IV. Solicitation of Comments Number SR–Phlx–2017–87 and should
The role of the specialist has changed Interested persons are invited to be submitted on or before December 7,
on the Exchange, and specialists are no submit written data, views, and 2017.
longer present in all options classes on arguments concerning the foregoing, For the Commission, by the Division of
the Exchange’s trading floor. The including whether the proposed rule Trading and Markets, pursuant to delegated
proposed rule change would maintain change is consistent with the Act. authority.12
market participants’ ability to execute Comments may be submitted by any of Eduardo A. Aleman,
cabinet transactions on the Exchange’s the following methods: Assistant Secretary.
trading floor, in an open manner and in [FR Doc. 2017–24779 Filed 11–15–17; 8:45 am]
compliance with new procedures Electronic Comments
BILLING CODE 8011–01–P
specified in the revised rule. • Use the Commission’s Internet
comment form (http://www.sec.gov/
B. Self-Regulatory Organization’s
rules/sro.shtml); or SECURITIES AND EXCHANGE
asabaliauskas on DSKBBXCHB2PROD with NOTICES
Statement on Burden on Competition
COMMISSION
The Exchange does not believe that 10 15 U.S.C. 78s(b)(3)(A)(iii).
the proposed rule change will impose 11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– Submission for OMB Review;
any burden on competition not 4(f)(6) requires a self-regulatory organization to give Comment Request
the Commission written notice of its intent to file
the proposed rule change at least five business days Upon Written Request, Copies Available
7 No changes are proposed to be made to Rule
prior to the date of filing of the proposed rule
1059(b) or to the Commentary. change, or such shorter time as designated by the From: Securities and Exchange
8 15 U.S.C. 78f(b).
Commission. The Exchange has satisfied this
9 15 U.S.C. 78f(b)(5). requirement. 12 17 CFR 200.30–3(a)(12).
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![53546 Federal Register / Vol. 82, No. 220 / Thursday, November 16, 2017 / Notices
Commission, Office of FOIA Services, total annual burden for all respondents Section 19(a) (15 U.S.C. 80a–19(a)) of
100 F Street NE., Washington, DC is approximately 9,520 (4,200 the Investment Company Act of 1940
20549–2736 respondents times 2.2666667 hours). As (the ‘‘Act’’) 1 makes it unlawful for any
Extension: noted above, all records maintained registered investment company to pay
Rule 17f–2(d); SEC File No. 270–36, OMB subject to the rule must be retained for any dividend or similar distribution
Control No. 3235–0028 a period of not less than three years after from any source other than the
Notice is hereby given that pursuant termination of a covered person’s company’s net income, unless the
to the Paperwork Reduction Act of 1995 employment or relationship with a payment is accompanied by a written
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the covered entity. In addition, we estimate statement to the company’s
Securities and Exchange Commission the total cost to respondents is shareholders which adequately
(‘‘Commission’’) has submitted to the approximately $42,000 in third party discloses the sources of the payment.
Office of Management and Budget storage costs. Section 19(a) authorizes the
(‘‘OMB’’) a request for approval of An agency may not conduct or Commission to prescribe the form of
extension of the previously approved sponsor, and a person is not required to such statement by rule.
collection of information provided for in respond to, a collection of information Rule 19a–1 (17 CFR 270.19a–1) under
Rule 17f–2(d) (17 CFR 240.17f–2(d)), under the PRA unless it displays a the Act, entitled ‘‘Written Statement to
under the Securities Exchange Act of currently valid OMB control number. Accompany Dividend Payments by
1934 (15 U.S.C. 78a et seq.). The public may view background Management Companies,’’ sets forth
Rule 17f–2(d) requires that records documentation for this information specific requirements for the
created pursuant to the fingerprinting collection at the following Web site: information that must be included in
requirements of Section 17(f)(2) of the www.reginfo.gov. Comments should be statements made pursuant to section
Act be maintained and preserved by directed to: (i) Desk Officer for the 19(a) by or on behalf of management
every member of a national securities Securities and Exchange Commission, companies.2 The rule requires that the
exchange, broker, dealer, registered Office of Information and Regulatory statement indicate what portions of
transfer agent and registered clearing Affairs, Office of Management and distribution payments are made from
agency (‘‘covered entities’’ or Budget, Room 10102, New Executive net income, net profits from the sale of
‘‘respondents’’); permits, under certain Office Building, Washington, DC 20503, a security or other property (‘‘capital
circumstances, the records required to or by sending an email to: Shagufta_ gains’’) and paid-in capital. When any
be maintained and preserved by a Ahmed@omb.eop.gov; and (ii) Pamela part of the payment is made from capital
member of a national securities Dyson, Director/Chief Information gains, rule 19a–1 also requires that the
exchange, broker, or dealer to be Officer, Securities and Exchange statement disclose certain other
maintained and preserved by a self- Commission, c/o Remi Pavlik-Simon, information relating to the appreciation
regulatory organization that is also the 100 F Street NE., Washington, DC or depreciation of portfolio securities. If
designated examining authority for that 20549, or by sending an email to: PRA_ an estimated portion is subsequently
member, broker or dealer; and permits Mailbox@sec.gov. Comments must be determined to be significantly
the required records to be preserved on submitted to OMB within 30 days of inaccurate, a correction must be made
microfilm. The general purpose of Rule this notice. on a statement made pursuant to section
17f–2 is to: (i) Identify security risk 19(a) or in the first report to
Dated: November 9, 2017. shareholders following the discovery of
personnel; (ii) provide criminal record
Eduardo A. Aleman, the inaccuracy.
information so that employers can make
fully informed employment decisions; Assistant Secretary. The purpose of rule 19a–1 is to afford
and (iii) deter persons with criminal [FR Doc. 2017–24752 Filed 11–15–17; 8:45 am] fund shareholders adequate disclosure
records from seeking employment or BILLING CODE P of the sources from which distribution
association with covered entities. The payments are made. The rule is
rule enables the Commission or other intended to prevent shareholders from
examining authority to ascertain SECURITIES AND EXCHANGE confusing income dividends with
whether all covered persons are being COMMISSION distributions made from capital sources.
fingerprinted and whether proper Absent rule 19a–1, shareholders might
Submission for OMB Review; receive a false impression of fund gains.
procedures regarding fingerprinting are Comment Request
being followed. Retention of these Based on a review of filings made
records for a period of not less than with the Commission, the staff estimates
Upon Written Request, Copies Available that approximately 11,818 series of
three years after termination of a From: Securities and Exchange
covered person’s employment or registered investment companies that
Commission, Office of FOIA Services, are management companies may be
relationship with a covered entity 100 F Street NE., Washington, DC
ensures that law enforcement officials subject to rule 19a–1 each year,3 and
20549–2736
will have easy access to fingerprint
Extension: 1 15 U.S.C. 80a.
cards on a timely basis. This in turn acts Rule 19a–1; SEC File No. 270–240, OMB 2 Section 4(3) of the Act (15 U.S. C. 80a–4(3))
as an effective deterrent to employee Control No. 3235–0216 defines ‘‘management company’’ as ‘‘any
misconduct. investment company other than a face amount
asabaliauskas on DSKBBXCHB2PROD with NOTICES
Approximately 4,200 respondents are Notice is hereby given that, pursuant certificate company or a unit investment trust.’’
3 This estimate is based on statistics compiled by
subject to the recordkeeping to the Paperwork Reduction Act of 1995
Commission staff as of April 30, 2017. The number
requirements of the rule. Each (44 U.S.C. 3501–3520), the Securities of management investment company portfolios that
respondent maintains approximately 68 and Exchange Commission (the make distributions for which compliance with rule
new records per year, each of which ‘‘Commission’’) has submitted to the 19a–1 is required depends on a wide range of
takes approximately 2 minutes per Office of Management and Budget a factors and can vary greatly across years. Therefore,
the calculation of estimated burden hours is based
record to maintain, for an annual request for extension of the previously on the total number of management investment
burden of approximately 2.2666667 approved collection of information company portfolios, each of which may be subject
hours (68 records times 2 minutes). The discussed below. to rule 19a–1.
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Document Created: 2017-11-16 03:53:42
Document Modified: 2017-11-16 03:53:42
| 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 53545 |
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