82 FR 8644 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 17 (January 27, 2017)

Page Range		8644-8645
FR Document		2017-01827
Federal Register, Volume 82 Issue 17 (Friday, January 27, 2017)
[Federal Register Volume 82, Number 17 (Friday, January 27, 2017)]
[Notices]
[Pages 8644-8645]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-01827]


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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 201 and Rule 200(g) of Regulation SHO SEC File No. 270-606, 
OMB Control No. 3235-0670

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), 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 201 
(17 CFR 242.201) and Rule 200(g) (17 CFR 242.200(g)) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 201 is a short sale-related circuit breaker rule that, if 
triggered, imposes a restriction on the prices at which securities may 
be sold short. Rule 200(g) provides that a broker-dealer may mark 
certain qualifying sell orders ``short exempt.'' The information 
collected under Rule 201's written policies and procedures requirement 
applicable to trading centers, the written policies and procedures 
requirement of the broker-dealer provision of Rule 201(c), the written 
policies and procedures requirement of the riskless principal provision 
of Rule 201(d)(6), and the ``short exempt'' marking requirement of Rule 
200(g) enable the Commission and self-regulatory organizations 
(``SROs'') to examine and monitor for compliance with the requirements 
of Rule 201 and Rule 200(g).
    In addition, the information collected under Rule 201's written 
policies and procedures requirement applicable to trading centers helps 
ensure that trading centers do not execute or display any impermissibly 
priced short sale orders, unless an order is marked ``short exempt,'' 
in accordance with the rule's requirements. Similarly, the information 
collected under the written policies and procedures requirement of the 
broker-dealer provision of Rule 201(c) and the riskless principal 
provision of Rule 201(d)(6) helps to ensure that broker-dealers comply 
with the requirements of these provisions. The information collected 
pursuant to the ``short exempt'' marking requirement of Rule 200(g) 
also provides an indication to a trading center when it must execute or 
display a short sale order without regard to whether the short sale 
order is at a price that is less than or equal to the current national 
best bid.
    It is estimated that SRO and non-SRO respondents registered with 
the Commission and subject to the collection of information 
requirements of Rule 201 and Rule 200(g) incur an aggregate annual 
burden of 2,908,309 hours to comply with the rules and an aggregate 
annual external cost of $120,000.
    Any records generated in connection with Rule 201's requirements 
that trading centers and broker-dealers (with respect to the broker-
dealer and riskless principal provisions) establish written policies 
and procedures must be preserved in accordance with, and for the 
periods specified in, Exchange Act Rules 17a-1 for SRO trading centers 
and 17a-4(e)(7) for non-SRO trading centers and registered broker-
dealers. The

[[Page 8645]]

amendments to Rule 200(g) and Rule 200(g)(2) do not contain any new 
record retention requirements. All registered broker-dealers that are 
subject to the amendments are currently required to retain records in 
accordance with Rule 17a-4(e)(7) under the Exchange Act.
    Compliance with Rule 201 and Rule 200(g) is mandatory. We expect 
that the information collected pursuant to Rule 201's required policies 
and procedures for trading centers will be communicated to the members, 
subscribers, and employees (as applicable) of all trading centers. In 
addition, the information collected pursuant to Rule 201's required 
policies and procedures for trading centers will be retained by the 
trading centers and will be available to the Commission and SRO 
examiners upon request, but not subject to public availability. The 
information collected pursuant to Rule 201's broker-dealer provision 
and the riskless principal exception will be retained by the broker-
dealers and will be available to the Commission and SRO examiners upon 
request, but not subject to public availability. The information 
collected pursuant to the ``short exempt'' marking requirements in Rule 
200(g) and Rule 200(g)(2) will be submitted to trading centers and will 
be available to the Commission and SRO examiners upon request. The 
information collected pursuant to the ``short exempt'' marking 
requirement may be publicly available because it may be published, in a 
form that would not identify individual broker-dealers, by SROs that 
publish on their Web sites aggregate short selling volume data in each 
individual equity security for that day and, on a one-month delayed 
basis, information regarding individual short sale transactions in all 
exchange-listed equity securities.
    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: 
Shagufta_Ahmed@omb.eop.gov; 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: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: January 17, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-01827 Filed 1-26-17; 8:45 am]
 BILLING CODE 8011-01-P
8644 Federal Register / Vol. 82, No. 17 / Friday, January 27, 2017 / Notices

the Commission to waive the 30-day only one method. The Commission will Rule 201 (17 CFR 242.201) and Rule
operative delay to allow the Funds to be post all comments on the Commission’s 200(g) (17 CFR 242.200(g)) under the
subject to a single compliance regime Internet Web site (http://www.sec.gov/ Securities Exchange Act of 1934 (15
under Rule 14.11(i)(4)(C) instead of the rules/sro.shtml). Copies of the U.S.C. 78a et seq.).
series of representations made in each submission, all subsequent Rule 201 is a short sale-related circuit
Fund’s respective 19b–4 as soon as amendments, all written statements breaker rule that, if triggered, imposes a
practicable, which will streamline and with respect to the proposed rule restriction on the prices at which
simplify compliance and the costs change that are filed with the securities may be sold short. Rule 200(g)
associated therewith. The Commission Commission, and all written provides that a broker-dealer may mark
finds that waiving the 30-day operative communications relating to the certain qualifying sell orders ‘‘short
delay in this instance is consistent with proposed rule change between the exempt.’’ The information collected
the protection of investors and the Commission and any person, other than under Rule 201’s written policies and
public interest. The Commission notes those that may be withheld from the procedures requirement applicable to
that, as represented by the Exchange, if public in accordance with the trading centers, the written policies and
the Funds were not currently listed provisions of 5 U.S.C. 552, will be procedures requirement of the broker-
pursuant to the previous Commission available for Web site viewing and dealer provision of Rule 201(c), the
approval orders, they would be eligible printing in the Commission’s Public written policies and procedures
for immediate listing pursuant to Reference Room, 100 F Street NE., requirement of the riskless principal
Exchange Rule 14.11(i)(4)(C). Therefore, Washington, DC 20549, on official provision of Rule 201(d)(6), and the
the Commission designates the proposal business days between the hours of ‘‘short exempt’’ marking requirement of
operative upon filing.16 10:00 a.m. and 3:00 p.m. Copies of the Rule 200(g) enable the Commission and
At any time within 60 days of the filing also will be available for self-regulatory organizations (‘‘SROs’’)
filing of such proposed rule change, the inspection and copying at the principal to examine and monitor for compliance
Commission summarily may office of the Exchange. All comments with the requirements of Rule 201 and
temporarily suspend such rule change if received will be posted without change; Rule 200(g).
it appears to the Commission that such the Commission does not edit personal In addition, the information collected
action is necessary or appropriate in the identifying information from under Rule 201’s written policies and
public interest, for the protection of submissions. You should submit only procedures requirement applicable to
investors, or otherwise in furtherance of information that you wish to make trading centers helps ensure that trading
the purposes of the Act. If the available publicly. All submissions centers do not execute or display any
Commission takes such action, the should refer to File Number SR– impermissibly priced short sale orders,
Commission shall institute proceedings BatsBZX–2017–03 and should be unless an order is marked ‘‘short
submitted on or before February 17, exempt,’’ in accordance with the rule’s
to determine whether the proposed rule
2017. requirements. Similarly, the information
change should be approved or
collected under the written policies and
disapproved. For the Commission, by the Division of
Trading and Markets, pursuant to delegated procedures requirement of the broker-
IV. Solicitation of Comments authority.17 dealer provision of Rule 201(c) and the
Interested persons are invited to Eduardo A. Aleman, riskless principal provision of Rule
submit written data, views, and Assistant Secretary. 201(d)(6) helps to ensure that broker-
arguments concerning the foregoing, dealers comply with the requirements of
[FR Doc. 2017–01835 Filed 1–26–17; 8:45 am]
including whether the proposed rule these provisions. The information
BILLING CODE 8011–01–P
change is consistent with the Act. collected pursuant to the ‘‘short
exempt’’ marking requirement of Rule
Comments may be submitted by any of
SECURITIES AND EXCHANGE 200(g) also provides an indication to a
the following methods:
COMMISSION trading center when it must execute or
Electronic Comments display a short sale order without regard
• Use the Commission’s Internet Submission for OMB Review; to whether the short sale order is at a
comment form (http://www.sec.gov/ Comment Request price that is less than or equal to the
rules/sro.shtml); or current national best bid.
Upon Written Request, Copies Available It is estimated that SRO and non-SRO
• Send an email to rule-comments@ From: Securities and Exchange respondents registered with the
sec.gov. Please include File Number SR– Commission, Office of FOIA Services, Commission and subject to the
BatsBZX–2017–03 on the subject line. 100 F Street NE., Washington, DC collection of information requirements
Paper Comments 20549–2736 of Rule 201 and Rule 200(g) incur an
• Send paper comments in triplicate Extension: aggregate annual burden of 2,908,309
to Brent J. Fields, Secretary, Securities Rule 201 and Rule 200(g) of Regulation hours to comply with the rules and an
SHO SEC File No. 270–606, OMB aggregate annual external cost of
and Exchange Commission, 100 F Street Control No. 3235–0670
NE., Washington, DC 20549–1090. $120,000.
Notice is hereby given that pursuant Any records generated in connection
All submissions should refer to File to the Paperwork Reduction Act of 1995 with Rule 201’s requirements that
Number SR–BatsBZX–2017–03. This file (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the trading centers and broker-dealers (with
number should be included on the respect to the broker-dealer and riskless
jstallworth on DSK7TPTVN1PROD with NOTICES

Securities and Exchange Commission
subject line if email is used. To help the (‘‘Commission’’) has submitted to the principal provisions) establish written
Commission process and review your Office of Management and Budget policies and procedures must be
comments more efficiently, please use (‘‘OMB’’) a request for approval of preserved in accordance with, and for
16 For purposes only of waiving the 30-day
extension of the previously approved the periods specified in, Exchange Act
operative delay, the Commission has considered the collection of information provided for in Rules 17a–1 for SRO trading centers and
proposed rule’s impact on efficiency, competition, 17a–4(e)(7) for non-SRO trading centers
and capital formation. 15 U.S.C. 78c(f). 17 17 CFR 200.30–3(a)(12). and registered broker-dealers. The

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Federal Register / Vol. 82, No. 17 / Friday, January 27, 2017 / Notices 8645

amendments to Rule 200(g) and Rule sec.gov. Comments must be submitted to nasdaq.cchwallstreet.com/, at Nasdaq’s
200(g)(2) do not contain any new record OMB within 30 days of this notice. principal office, and at the
retention requirements. All registered Dated: January 17, 2017. Commission’s Public Reference Room.
broker-dealers that are subject to the Eduardo A. Aleman, II. Self-Regulatory Organization’s
amendments are currently required to
Assistant Secretary. Statement of the Purpose of, and
retain records in accordance with Rule
17a–4(e)(7) under the Exchange Act. [FR Doc. 2017–01827 Filed 1–26–17; 8:45 am] Statutory Basis for, the Proposed Rule
Compliance with Rule 201 and Rule BILLING CODE 8011–01–P Change
200(g) is mandatory. We expect that the In its filing with the Commission, the
information collected pursuant to Rule Exchange included statements
201’s required policies and procedures SECURITIES AND EXCHANGE
COMMISSION concerning the purpose of and basis for
for trading centers will be the proposed rule change and discussed
communicated to the members, [Release No. 34–79862; File No. SR– any comments it received on the
subscribers, and employees (as NASDAQ–2017–003]
proposed rule change. The text of these
applicable) of all trading centers. In statements may be examined at the
addition, the information collected Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of places specified in Item IV below. The
pursuant to Rule 201’s required policies Exchange has prepared summaries, set
and procedures for trading centers will Filing and Immediate Effectiveness of
Proposed Rule Change Relating to the forth in sections A, B, and C below, of
be retained by the trading centers and the most significant aspects of such
will be available to the Commission and Listing and Trading of the Shares of
the Gabelli All Cap NextShares of the statements.
SRO examiners upon request, but not
subject to public availability. The Gabelli NextShares Trust A. Self-Regulatory Organization’s
information collected pursuant to Rule January 23, 2017. Statement of the Purpose of, and
201’s broker-dealer provision and the Pursuant to Section 19(b)(1) of the Statutory Basis for, the Proposed Rule
riskless principal exception will be Securities Exchange Act of 1934 Change
retained by the broker-dealers and will (‘‘Act’’),1 and Rule 19b–4 thereunder,2 1. Purpose
be available to the Commission and SRO notice is hereby given that on January 9,
examiners upon request, but not subject 2017, The NASDAQ Stock Market LLC The shares of the Fund will be offered
to public availability. The information (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the by the Trust. The Trust is registered
collected pursuant to the ‘‘short Securities and Exchange Commission with the Commission as an open-end
exempt’’ marking requirements in Rule (‘‘SEC’’ or ‘‘Commission’’) the proposed investment company and has filed a
200(g) and Rule 200(g)(2) will be rule change as described in Items I and registration statement on Form N–1A
submitted to trading centers and will be II below, which Items have been (‘‘Registration Statement’’) with the
available to the Commission and SRO prepared by Nasdaq. The Commission is Commission.4 The Fund is a series of
examiners upon request. The publishing this notice to solicit the Trust.
information collected pursuant to the comments on the proposed rule change The Commission previously approved
‘‘short exempt’’ marking requirement from interested persons. the listing and trading on the Exchange
may be publicly available because it
I. Self-Regulatory Organization’s of the shares of the Fund under Nasdaq
may be published, in a form that would
Statement of the Terms of Substance of Rule 5745, which governs the listing
not identify individual broker-dealers,
the Proposed Rule Change and trading of NextSharesTM on the
by SROs that publish on their Web sites
Exchange.5 The shares of the Fund have
aggregate short selling volume data in Nasdaq proposes a proposed rule not commenced trading on the
each individual equity security for that change with respect to the Gabelli All Exchange.
day and, on a one-month delayed basis, Cap NextShares (the ‘‘Fund’’), a series of
information regarding individual short In this proposed rule change, the
Gabelli NextShares Trust (the ‘‘Trust’’).
sale transactions in all exchange-listed The proposed rule change is being Exchange proposes to change the Fund’s
equity securities. filed to reflect a proposed revision to the name and modify its proposed
An agency may not conduct or Fund’s name and modify its proposed investments.6 As stated in the Prior
sponsor, and a person is not required to investments (which are set forth in an Release, the Fund is named Gabelli All
respond to, a collection of information order previously granted by the Cap NextShares and, under normal
under the PRA unless it displays a Commission 3). All capitalized terms market conditions, will invest at least
currently valid OMB control number. referenced but not defined herein have 80% of its net assets plus borrowings for
The public may view background investment purposes in common stocks
the same meaning as in the Prior
documentation for this information and preferred stocks of companies of all
Release.
collection at the following Web site, The text of the proposed rule change capitalization ranges that are listed on a
www.reginfo.gov. Comments should be is available at http:// recognized securities exchange or
directed to: (i) Desk Officer for the similar market. The Fund may also
Securities and Exchange Commission, 1 15 U.S.C. 78s(b)(1).
Office of Information and Regulatory 2 17 CFR 240.19b–4. 4 See Registration Statement on Form N–1A for

Affairs, Office of Management and 3 See Securities Exchange Act Release No. 34– the Gabelli NextShares Trust dated November 17,
Budget, Room 10102, New Executive 79082 (October 11, 2016), 81 FR 71549 (October 17, 2016 (File Nos. 333–211881 and 811–23160).
5 The Commission approved Nasdaq Rule 5745 in
Office Building, Washington, DC 20503, 2016) (SR–NASDAQ–2016–134) (the ‘‘Prior
jstallworth on DSK7TPTVN1PROD with NOTICES

Notice’’); see also Securities Exchange Act Release Securities Exchange Act Release No. 34–73562
or by sending an email to: Shagufta_ No. 34–79377 (November 22, 2016), 81 FR 86056 (November 7, 2014), 79 FR 68309 (November 14,
Ahmed@omb.eop.gov; and (ii) Pamela (November 29, 2016) (SR–NASDAQ–2016–134) (the 2014) (SR–NASDAQ–2014–020).
Dyson, Director/Chief Information ‘‘Prior Order,’’ and, together with the Prior Notice, 6 The changes described herein will be reflected

Officer, Securities and Exchange the ‘‘Prior Release’’). Except for the changes in a revised prospectus and statement of additional
discussed herein, all other facts presented and information for the Fund to be filed with the
Commission, c/o Remi Pavlik-Simon, representations made in the Prior Release with Commission. The changes described herein will not
100 F Street NE., Washington, DC 20549 respect to the Fund remain unchanged and in full be implemented until such proposed rule change is
or send an email to: PRA_Mailbox@ effect. declared operative.

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Document Created: 2017-01-27 00:11:01
Document Modified: 2017-01-27 00:11:01
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 8644