83 FR 11578 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 51 (March 15, 2018)

Page Range		11578-11579
FR Document		2018-05212
Federal Register, Volume 83 Issue 51 (Thursday, March 15, 2018)
[Federal Register Volume 83, Number 51 (Thursday, March 15, 2018)]
[Notices]
[Pages 11578-11579]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-05212]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736


[[Page 11579]]


Extension:
    Exchange Act Rules 13n-1-13n-12; Form SDR, SEC File No. 270-629, 
OMB Control No. 3235-0719

    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'') is soliciting comments on the existing 
collection of information provided for in Rules 13n-1 through 13n-12 
(17 CFR 240.13n-1 through 240.13n-12) and Form SDR (``Rules''), under 
the Securities Exchange Act of 1934 (15 U.S.C. 78m(n)(3) et seq.). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget (``OMB'') for extension and 
approval.
    Under the Rules, security-based swap data repositories (``SDRs'') 
are required to register with the Commission by filing a completed Form 
SDR (the filing of a completed Form SDR also constitutes an application 
for registration as a securities information processor (``SIP'')). SDRs 
are also required to abide by certain minimum standards set out in the 
Rules, including a requirement to update Form SDR, abide by certain 
duties and core principles, maintain data in accordance with the rules, 
keep systems in accordance with the Rules, keep records, provide 
reports to the Commission, maintain the privacy of security-based swaps 
(``SBSs'') data, make certain disclosures, and designate a Chief 
Compliance Officer. In addition, there are a number of collections of 
information contained in the Rules. The information collected pursuant 
to the Rules is necessary to carry out the mandates of the Dodd-Frank 
Act and help ensure an orderly and transparent market for SBSs.
    The Commission staff estimates that it will take an SDR 
approximately 481 hours to complete the initial Form SDR and any 
amendments thereto. This burden is composed of a one-time reporting 
burden that reflects the applicant's staff time (i.e. internal labor 
costs) to prepare and submit the Form to the Commission and includes 
the burden of responding to additional provisions incorporated from 
Form SIP and finally includes responding to the revised disclosure of 
business affiliations burden. Assuming a maximum of ten SDRs, the 
aggregate one-time estimated dollar cost to complete the initial Form 
SDR and any amendments thereto will be $793,840 ((Compliance Attorney 
at $334 per hour for 180 hours) + (Compliance Clerk at $64 per hour for 
301 hours) x (10 registrants)) and the aggregate ongoing cost per year 
will be $55,440 to comply with the rule.
    The Commission staff estimates that the average initial paperwork 
cost of filing a Form SDR to withdraw from registration will be 12 
hours per SDR with an estimated dollar cost of $4,008 to comply with 
the rule. The Commission estimates that an SDR will assign these 
responsibilities to a Compliance Attorney, calculated as follows: 
(Compliance Attorney at $334 per hour for 12 hours) x (1 SDR 
withdrawing) = $4,008.
    In addition, the Commission staff estimates that the average 
initial paperwork cost for each non-resident SDR to comply with Rule 
13n-1(f) will be 1 hour and $900 per SDR. Assuming a maximum of three 
non-resident SDRs, the aggregate one-time estimated dollar cost to 
comply with the rule will be $3,840, calculated as follows: ($900 for 
outside legal services + (Attorney at $380 per for 1 hour)) x (3 non-
resident registrants). Finally, the Commission believes that the costs 
of filing Form SDR in a tagged data format beyond the costs of 
collecting the required information will be minimal.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates 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: PRA_Mailbox@sec.gov.

    Dated: March 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-05212 Filed 3-14-18; 8:45 am]
 BILLING CODE 8011-01-P
11578 Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices

criteria for consideration of the option A proposed rule change filed Paper Comments
within the proposed timeframe. pursuant to Rule 19b–4(f)(6) under the • Send paper comments in triplicate
In addition, the Exchange believes Act 22 normally does not become to Secretary, Securities and Exchange
that basing the proposed timeframe on operative for 30 days after the date of its Commission, 100 F Street NE,
the T+2 settlement cycle adequately filing. However, Rule 19b–4(f)(6)(iii) 23 Washington, DC 20549–1090.
addresses the potential difficulties in permits the Commission to designate a
confirming the number of shareholders shorter time if such action is consistent All submissions should refer to File
of the underlying covered security. with the protection of investors and the Number SR–NYSEArca–2018–16. This
Having some of the largest brokerage public interest. The Exchange has asked file number should be included on the
firms that provide these shareholder the Commission to waive the 30-day subject line if email is used. To help the
counts to the Exchange confirm that operative delay so that the proposed Commission process and review your
they are able to provide these numbers rule change may become effective and comments more efficiently, please use
within T+2 further demonstrates that operative upon filing. The Exchange only one method. The Commission will
the 2,000 shareholder requirement can states that waiver of the operative delay post all comments on the Commission’s
be sufficiently verified within the would be consistent with the protection internet website (http://www.sec.gov/
proposed timeframe. For the foregoing of investors and the public interest rules/sro.shtml). Copies of the
reasons, the Exchange believes that the because it would allow the Exchange to submission, all subsequent
proposed amendments will remove and implement the modified rule, which amendments, all written statements
perfect the mechanism of a free and aligns with the rules of other options with respect to the proposed rule
open market and a national market exchanges,24 without delay. The change that are filed with the
system by providing an avenue for Commission believes that waiving the Commission, and all written
investors to swiftly hedge their 30-day operative delay is consistent communications relating to the
investment in the stock in a shorter with the protection of investors and the proposed rule change between the
amount of time than what is currently public interest. Accordingly, the Commission and any person, other than
in place.19 Commission hereby waives the those that may be withheld from the
operative delay and designates the public in accordance with the
B. Self-Regulatory Organization’s proposal as operative upon filing.25 provisions of 5 U.S.C. 552, will be
Statement on Burden on Competition At any time within 60 days of the available for website viewing and
The Exchange does not believe that filing of the proposed rule change, the printing in the Commission’s Public
the proposed rule change will impose Commission summarily may Reference Room, 100 F Street NE,
any burden on competition not temporarily suspend such rule change if Washington, DC 20549 on official
necessary or appropriate in furtherance it appears to the Commission that such business days between the hours of
of the purposes of the Act. The action is necessary or appropriate in the 10:00 a.m. and 3:00 p.m. Copies of such
proposed rule change reduces the public interest, for the protection of filing also will be available for
number of days to list options on an investors, or otherwise in furtherance of inspection and copying at the principal
underlying security, and is intended to the purposes of the Act. If the office of the Exchange. All comments
bring new options listings to the Commission takes such action, the received will be posted without change.
marketplace quicker. Commission shall institute proceedings Persons submitting comments are
to determine whether the proposed rule cautioned that we do not redact or edit
C. Self-Regulatory Organization’s should be approved or disapproved. personal identifying information from
Statement on Comments on the comment submissions. You should
Proposed Rule Change Received From IV. Solicitation of Comments submit only information that you wish
Members, Participants, or Others Interested persons are invited to to make available publicly. All
No written comments were solicited submit written data, views, and submissions should refer to File
or received with respect to the proposed arguments concerning the foregoing, Number SR–NYSEArca–2018–16, and
rule change. including whether the proposed rule should be submitted on or before
change is consistent with the Act. April 5, 2018.
III. Date of Effectiveness of the Comments may be submitted by any of
Proposed Rule Change and Timing for For the Commission, by the Division of
the following methods: Trading and Markets, pursuant to delegated
Commission Action
Electronic Comments authority.26
Because the proposed rule change Eduardo A. Aleman,
does not (i) significantly affect the • Use the Commission’s internet
Assistant Secretary.
protection of investors or the public comment form (http://www.sec.gov/
[FR Doc. 2018–05209 Filed 3–14–18; 8:45 am]
interest; (ii) impose any significant rules/sro.shtml); or
burden on competition; and (iii) become • Send an email to rule-comments@ BILLING CODE 8011–01–P

operative for 30 days from the date on sec.gov. Please include File Number SR–
which it was filed, or such shorter time NYSEArca–2018–16 on the subject line.
SECURITIES AND EXCHANGE
as the Commission may designate, it has COMMISSION
become effective pursuant to Section the proposed rule change, along with a brief
description and the text of the proposed rule
19(b)(3)(A) of the Act 20 and Rule 19b– change, at least five business days prior to the date Proposed Collection; Comment
4(f)(6) thereunder.21 of filing of the proposed rule change, or such Request
sradovich on DSK3GMQ082PROD with NOTICES

shorter time as designated by the Commission.
19 This proposed rule change does not alter any 22 17 CFR 240.19b–4(f)(6). Upon Written Request, Copies Available
obligations of issuers or other investors of an IPO 23 17 CFR 240.19b–4(f)(6)(iii).
From: Securities and Exchange
that may be subject to a lock-up or other restrictions 24 See supra note 5.
Commission, Office of FOIA Services,
on trading related securities. 25 For purposes only of waiving the 30-day
20 15 U.S.C. 78s(b)(3)(A).
100 F Street NE, Washington, DC
operative delay, the Commission has also
21 17 CFR 240.19b–4(f)(6). As required under Rule considered the proposed rule’s impact on 20549–2736
19b–4(f)(6)(iii), the Exchange provided the efficiency, competition, and capital formation. See
Commission with written notice of its intent to file 15 U.S.C. 78c(f). 26 17 CFR 200.30–3(a)(12).

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Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices 11579

Extension: cost per year will be $55,440 to comply SMALL BUSINESS ADMINISTRATION
Exchange Act Rules 13n–1–13n–12; Form with the rule.
SDR, SEC File No. 270–629, OMB [Disaster Declaration #15446 and #15447;
The Commission staff estimates that AMERICAN SAMOA Disaster Number AS–
Control No. 3235–0719
the average initial paperwork cost of 00007]
Notice is hereby given that pursuant filing a Form SDR to withdraw from
to the Paperwork Reduction Act of 1995 registration will be 12 hours per SDR Presidential Declaration of a Major
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the with an estimated dollar cost of $4,008 Disaster for the Territory of American
Securities and Exchange Commission to comply with the rule. The Samoa
(‘‘Commission’’) is soliciting comments Commission estimates that an SDR will
AGENCY: U.S. Small Business
on the existing collection of information assign these responsibilities to a
Administration.
provided for in Rules 13n–1 through Compliance Attorney, calculated as
ACTION: Notice.
13n–12 (17 CFR 240.13n–1 through follows: (Compliance Attorney at $334
240.13n–12) and Form SDR (‘‘Rules’’), per hour for 12 hours) × (1 SDR SUMMARY: This is a Notice of the
under the Securities Exchange Act of withdrawing) = $4,008. Presidential declaration of a major
1934 (15 U.S.C. 78m(n)(3) et seq.). The In addition, the Commission staff disaster for the Territory of American
Commission plans to submit this estimates that the average initial Samoa (FEMA–4357–DR), dated 03/02/
existing collection of information to the paperwork cost for each non–resident 2018.
Office of Management and Budget SDR to comply with Rule 13n–1(f) will Incident: Tropical Storm Gita.
(‘‘OMB’’) for extension and approval. be 1 hour and $900 per SDR. Assuming Incident Period: 02/07/2018 through
Under the Rules, security-based swap a maximum of three non–resident SDRs, 02/12/2018.
data repositories (‘‘SDRs’’) are required the aggregate one-time estimated dollar DATES: Issued on 03/02/2018.
to register with the Commission by cost to comply with the rule will be Physical Loan Application Deadline
filing a completed Form SDR (the filing $3,840, calculated as follows: ($900 for Date: 05/01/2018.
of a completed Form SDR also outside legal services + (Attorney at Economic Injury (EIDL) Loan
constitutes an application for $380 per for 1 hour)) × (3 non–resident Application Deadline Date: 12/03/2018.
registration as a securities information registrants). Finally, the Commission ADDRESSES: Submit completed loan
processor (‘‘SIP’’)). SDRs are also believes that the costs of filing Form applications to: U.S. Small Business
required to abide by certain minimum SDR in a tagged data format beyond the Administration, Processing and
standards set out in the Rules, including costs of collecting the required Disbursement Center, 14925 Kingsport
a requirement to update Form SDR, information will be minimal. Road, Fort Worth, TX 76155.
abide by certain duties and core Written comments are invited on: (a) FOR FURTHER INFORMATION CONTACT: A.
principles, maintain data in accordance Whether the proposed collection of Escobar, Office of Disaster Assistance,
with the rules, keep systems in information is necessary for the proper U.S. Small Business Administration,
accordance with the Rules, keep performance of the functions of the 409 3rd Street SW, Suite 6050,
records, provide reports to the Commission, including whether the Washington, DC 20416, (202) 205–6734.
Commission, maintain the privacy of information shall have practical utility; SUPPLEMENTARY INFORMATION: Notice is
security-based swaps (‘‘SBSs’’) data, (b) the accuracy of the Commission’s hereby given that as a result of the
make certain disclosures, and designate estimates of the burden of the proposed President’s major disaster declaration on
a Chief Compliance Officer. In addition, collection of information; (c) ways to 03/02/2018, applications for disaster
there are a number of collections of enhance the quality, utility, and clarity loans may be filed at the address listed
information contained in the Rules. The of the information to be collected; and above or other locally announced
information collected pursuant to the (d) ways to minimize the burden of the locations.
Rules is necessary to carry out the collection of information on The following areas have been
mandates of the Dodd-Frank Act and respondents, including through the use determined to be adversely affected by
help ensure an orderly and transparent of automated collection techniques or the disaster:
market for SBSs. other forms of information technology. Primary Counties (Physical Damage and
The Commission staff estimates that it Consideration will be given to Economic Injury Loans): Territory
will take an SDR approximately 481 comments and suggestions submitted in of American Samoa
hours to complete the initial Form SDR writing within 60 days of this The Interest Rates are:
and any amendments thereto. This publication.
burden is composed of a one-time An agency may not conduct or Percent
reporting burden that reflects the sponsor, and a person is not required to
applicant’s staff time (i.e. internal labor respond to, a collection of information For Physical Damage:
costs) to prepare and submit the Form Homeowners with Credit Avail-
under the PRA unless it displays a able Elsewhere ...................... 3.625
to the Commission and includes the currently valid OMB control number. Homeowners without Credit
burden of responding to additional Please direct your written comments Available Elsewhere .............. 1.813
provisions incorporated from Form SIP to: Pamela Dyson, Director/Chief Businesses with Credit Avail-
and finally includes responding to the Information Officer, Securities and able Elsewhere ...................... 7.160
revised disclosure of business Exchange Commission, c/o Remi Pavlik- Businesses without Credit
affiliations burden. Assuming a Simon, 100 F Street NE, Washington, Available Elsewhere .............. 3.580
maximum of ten SDRs, the aggregate Non-Profit Organizations with
sradovich on DSK3GMQ082PROD with NOTICES

DC 20549, or send an email to: PRA_ Credit Available Elsewhere ... 2.500
one-time estimated dollar cost to Mailbox@sec.gov.
complete the initial Form SDR and any Non-Profit Organizations with-
Dated: March 9, 2018. out Credit Available Else-
amendments thereto will be $793,840 where ..................................... 2.500
((Compliance Attorney at $334 per hour Eduardo A. Aleman,
For Economic Injury:
for 180 hours) + (Compliance Clerk at Assistant Secretary. Businesses & Small Agricultural
$64 per hour for 301 hours) × (10 [FR Doc. 2018–05212 Filed 3–14–18; 8:45 am] Cooperatives without Credit
registrants)) and the aggregate ongoing BILLING CODE 8011–01–P Available Elsewhere .............. 3.580

VerDate Sep<11>2014 17:34 Mar 14, 2018 Jkt 244001 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1
Document Created: 2018-03-15 02:37:38
Document Modified: 2018-03-15 02:37:38
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		83 FR 11578