83 FR 13170 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 59 (March 27, 2018)

Page Range		13170-13171
FR Document		2018-06122

Federal Register, Volume 83 Issue 59 (Tuesday, March 27, 2018)

[Federal Register Volume 83, Number 59 (Tuesday, March 27, 2018)]
[Notices]
[Pages 13170-13171]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-06122]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

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

Extension:
    Rule 10A-1, SEC File No. 270-425, OMB Control No. 3235-0468

    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'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 10A-1 (17 CFR 240.10A-1) implements the reporting requirements 
in Section 10A of the Exchange Act (15 U.S.C. 78j-1) which was enacted 
by Congress on December 22, 1995 as part of the Private Securities 
Litigation Reform Act of 1995, Public Law 104-67, 109 Stat 737. Under 
section 10A and Rule 10A-1 reporting occurs only if a registrant's 
board of directors receives a report from its auditor that (1) there is 
an illegal act material to the registrant's financial statements, (2) 
senior management and the board have not taken timely and appropriate 
remedial action, and (3) the failure to take such action is reasonably 
expected to warrant the auditor's modification of the audit report or 
resignation from the audit engagement. The board of directors must 
notify the Commission within one business day of receiving such a 
report. If the board fails to provide that notice, then the auditor, 
within the next business day, must provide the Commission with a copy 
of the report that it gave to the board.
    Likely respondents are those registrants filing audited financial 
statements under the Securities Exchange Act of 1934 (15 U.S.C. 78a, et 
seq.) and the Investment Company Act of 1940 (15 U.S.C. 80a-1, et 
seq.).
    It is estimated that Rule 10A-1 results in an aggregate additional 
reporting burden of 5 hours per year. The estimated average burden 
hours are solely for purposes of the Paperwork Reduction Act and are 
not derived from a comprehensive or even a representative survey or 
study of the costs of SEC rules or forms.
    Written comments are invited on: (a) Whether the proposed 
collection of

[[Page 13171]]

information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collection of information; (c) ways to enhance the quality, utility, 
and clarity of the information 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.
    Please direct your written comments to Pamela Dyson, 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].

     Dated: March 22, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-06122 Filed 3-26-18; 8:45 am]
 BILLING CODE 8011-01-P

13170 Federal Register / Vol. 83, No. 59 / Tuesday, March 27, 2018 / Notices

of the purposes of the Act. The change is consistent with the Act. SECURITIES AND EXCHANGE
proposed rule change is not intended to Comments may be submitted by any of COMMISSION
address competitive issues but rather to the following methods:
reduce the paperwork received by the Proposed Collection; Comment
Electronic Comments Request
Commission, ease the burden of
submitting the Quarterly and Annual • Use the Commission’s internet Upon Written Request, Copies Available
Reports, and provide greater clarity in comment form (http://www.sec.gov/ From: U.S. Securities and Exchange
the Exchange’s rules, without changing rules/sro.shtml); or Commission, Office of FOIA Services,
the information available to the • Send an email to rule-comments@ 100 F Street NE, Washington, DC
Commission. sec.gov. Please include File Number SR– 20549–2736
C. Self-Regulatory Organization’s BX–2018–010 on the subject line. Extension:
Statement on Comments on the Paper Comments Rule 10A–1, SEC File No. 270–425, OMB
Proposed Rule Change Received From Control No. 3235–0468
Members, Participants, or Others • Send paper comments in triplicate
Notice is hereby given that, pursuant
No written comments were either to Secretary, Securities and Exchange to the Paperwork Reduction Act of 1995
solicited or received. Commission, 100 F Street NE, (44 U.S.C. 3501 et seq.), the Securities
Washington, DC 20549–1090. and Exchange Commission
III. Date of Effectiveness of the All submissions should refer to File (‘‘Commission’’) is soliciting comments
Proposed Rule Change and Timing for
Number SR–BX–2018–010. This file on the collection of information
Commission Action
number should be included on the summarized below. The Commission
The Exchange has filed the proposed subject line if email is used. To help the plans to submit this existing collection
rule change pursuant to Section Commission process and review your of information to the Office of
19(b)(3)(A)(iii) of the Act 8 and Rule comments more efficiently, please use Management and Budget for extension
19b–4(f)(6) thereunder.9 Because the only one method. The Commission will and approval.
foregoing proposed rule change does post all comments on the Commission’s Rule 10A–1 (17 CFR 240.10A–1)
not: (i) Significantly affect the internet website (http://www.sec.gov/ implements the reporting requirements
protection of investors or the public rules/sro.shtml). Copies of the in Section 10A of the Exchange Act (15
interest; (ii) impose any significant submission, all subsequent U.S.C. 78j–1) which was enacted by
burden on competition; and (iii) become amendments, all written statements Congress on December 22, 1995 as part
operative for 30 days from the date on with respect to the proposed rule of the Private Securities Litigation
which it was filed, or such shorter time change that are filed with the Reform Act of 1995, Public Law 104–67,
as the Commission may designate, it has Commission, and all written 109 Stat 737. Under section 10A and
become effective pursuant to Section communications relating to the Rule 10A–1 reporting occurs only if a
19(b)(3)(A)(iii) of the Act 10 and proposed rule change between the registrant’s board of directors receives a
subparagraph (f)(6) of Rule 19b–4 Commission and any person, other than report from its auditor that (1) there is
thereunder.11 those that may be withheld from the an illegal act material to the registrant’s
At any time within 60 days of the public in accordance with the financial statements, (2) senior
filing of such proposed rule change, the provisions of 5 U.S.C. 552, will be management and the board have not
Commission summarily may available for website viewing and taken timely and appropriate remedial
temporarily suspend such rule change if printing in the Commission’s Public action, and (3) the failure to take such
it appears to the Commission that such Reference Room, 100 F Street NE, action is reasonably expected to warrant
action is necessary or appropriate in the Washington, DC 20549, on official the auditor’s modification of the audit
public interest, for the protection of business days between the hours of report or resignation from the audit
investors, or otherwise in furtherance of 10:00 a.m. and 3:00 p.m. Copies of the engagement. The board of directors
the purposes of the Act. If the filing also will be available for must notify the Commission within one
Commission takes such action, the inspection and copying at the principal business day of receiving such a report.
Commission shall institute proceedings office of the Exchange. All comments If the board fails to provide that notice,
under Section 19(b)(2)(B) 12 of the Act to received will be posted without change. then the auditor, within the next
determine whether the proposed rule Persons submitting comments are business day, must provide the
change should be approved or cautioned that we do not redact or edit Commission with a copy of the report
disapproved. personal identifying information from that it gave to the board.
IV. Solicitation of Comments comment submissions. You should Likely respondents are those
submit only information that you wish registrants filing audited financial
Interested persons are invited to statements under the Securities
to make available publicly. All
submit written data, views, and Exchange Act of 1934 (15 U.S.C. 78a, et
submissions should refer to File
arguments concerning the foregoing, seq.) and the Investment Company Act
Number SR–BX–2018–010 and should
including whether the proposed rule of 1940 (15 U.S.C. 80a–1, et seq.).
be submitted on or before April 17,
2018. It is estimated that Rule 10A–1 results
8 15 U.S.C. 78s(b)(3)(A)(iii). in an aggregate additional reporting
9 17 CFR 240.19b–4(f)(6). For the Commission, by the Division of burden of 5 hours per year. The
10 15 U.S.C. 78s(b)(3)(A)(iii). Trading and Markets, pursuant to delegated
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– authority.13
estimated average burden hours are
amozie on DSK30RV082PROD with NOTICES

4(f)(6) requires a self-regulatory organization to give solely for purposes of the Paperwork
Eduardo A. Aleman,
the Commission written notice of its intent to file Reduction Act and are not derived from
the proposed rule change at least five business days Assistant Secretary. a comprehensive or even a
prior to the date of filing of the proposed rule [FR Doc. 2018–06098 Filed 3–26–18; 8:45 am]
change, or such shorter time as designated by the
representative survey or study of the
Commission. The Exchange has satisfied this
BILLING CODE 8011–01–P costs of SEC rules or forms.
requirement. Written comments are invited on: (a)
12 15 U.S.C. 78s(b)(2)(B). 13 17 CFR 200.30–3(a)(12). Whether the proposed collection of

VerDate Sep<11>2014 18:07 Mar 26, 2018 Jkt 244001 PO 00000 Frm 00052 Fmt 4703 Sfmt 4703 E:\FR\FM\27MRN1.SGM 27MRN1

Federal Register / Vol. 83, No. 59 / Tuesday, March 27, 2018 / Notices 13171

information is necessary for the proper January 25, 2018, the Comission recovery or orderly wind-down
performance of the functions of the designated a longer period within which scenario.11
agency, including whether the to approve the Proposed Rule Change, OCC proposed to make four revisions
information will have practical utility; disapprove the Proposed Rule Change, to its Rules and By-Laws. First, OCC
(b) the accuracy of the agency’s estimate or institute proceedings to determine proposed to revise the existing
of the burden of the collection of whether to approve or disapprove the assessment powers in Section 6 of
information; (c) ways to enhance the Proposed Rule Change.4 To date,5 the Article VIII of OCC’s By-Laws,
quality, utility, and clarity of the Commission has received one comment specifically to:
information collected; and (d) ways to letter to the Proposed Rule Change.6 The (a) Establish a rolling cooling-off
minimize the burden of the collection of Commission is publishing this order period that would be triggered by the
information on respondents, including pursuant to Section 19(b)(2)(B) of the payment of a proportionate charge
through the use of automated collection Act 7 to institute proceedings to against the Clearing Fund (i.e., a
techniques or other forms of information determine whether to approve or triggering proportionate charge), during
technology. Consideration will be given disapprove the Proposed Rule Change. which period the aggregate liability of a
to comments and suggestions submitted Institution of proceedings does not Clearing Member to replenish the
in writing within 60 days of this indicate that the Commission has Clearing Fund (inclusive of
publication. reached any conclusions with respect to assessments) would be 200 percent of
Please direct your written comments the Proposed Rule Change, nor does it the Clearing Member’s required
to Pamela Dyson, Chief Information mean that the Commission will contribution as of the time immediately
Officer, Securities and Exchange ultimately disapprove the Proposed preceding the triggering proportionate
Commission, c/o Remi Pavlik-Simon, Rule Change. Rather, as discussed charge; 12
100 F Street NE, Washington, DC 20549 below, the Commission seeks additional (b) Clarify that a Clearing Member that
or send an email to: PRA_Mailbox@ input on the Proposed Rule Change and chooses to terminate its membership
sec.gov. issues presented by the proposal. status during a cooling-off period will
Dated: March 22, 2018. II. Description of the Proposed Rule not be liable for replenishment of the
Eduardo A. Aleman, Change 8 Clearing Fund immediately following
Assistant Secretary. the expiration of such cooling-off
The Proposed Rule Change would period, provided that the withdrawing
[FR Doc. 2018–06122 Filed 3–26–18; 8:45 am]
make certain revisions to OCC’s Rules Clearing Member satisfies enumerated
BILLING CODE 8011–01–P
and By-Laws 9 to enhance OCC’s criteria, including providing notice of
existing tools to address the risks of such termination by no later than the
SECURITIES AND EXCHANGE liquidity shortfalls and credit losses and end of the cooling-off period and by
COMMISSION to establish new tools by which OCC closing-out or transferring all its open
could re-establish a matched book positions with OCC by no later than the
[Release No. 34–82926; File No. SR–OCC– following a default.10 Each of the last day of the cooling-off period; 13 and
2017–020] proposed tools is contemplated to be (c) Delineate between the obligation of
deployed by OCC in an extreme stress a Clearing Member to replenish its
Self-Regulatory Organizations; The
event that has placed OCC into a contributions to the Clearing Fund and
Options Clearing Corporation; Order
Instituting Proceedings To Determine its obligations to meet additional
(‘‘Advance Notice’’). 12 U.S.C. 5465(e)(1) and 17 assessments that may be levied
Whether To Approve or Disapprove the CFR 240.19b–4(n)(1)(i), respectively. The Advance
Proposed Rule Concerning Enhanced Notice was published in the Federal Register on
following a proportionate charge to the
and New Tools for Recovery Scenarios January 23, 2018. Securities Exchange Act Release Clearing Fund.14
No. 82513 (Jan. 17, 2018), 83 FR 3244 (Jan. 23, Second, OCC proposed to adopt a new
March 22, 2018. 2018) (SR–OCC–2017–809). rule that would provide OCC with
The Financial Stability Oversight Council
I. Introduction designated OCC a systemically important financial
discretionary authority to call for
market utility on July 18, 2012. See Financial voluntary payments from non-defaulting
On December 18, 2017, The Options Stability Oversight Council 2012 Annual Report, Clearing Members in a circumstance
Clearing Corporation (‘‘OCC’’) filed with Appendix A, available at http://www.treasury.gov/ where one or more Clearing Members
the Securities and Exchange initiatives/fsoc/Documents/2012%20Annual%20
has already defaulted and OCC has
Commission (‘‘Commission’’) the Report.pdf. Therefore, OCC is required to comply
with the Payment, Clearing and Settlement determined that it may not have
proposed rule change SR–OCC–2017– Supervision Act and file advance notices with the sufficient resources to satisfy its
020 (‘‘Proposed Rule Change’’), Commission. See 12 U.S.C. 5465(e). obligations and liabilities resulting from
pursuant to Section 19(b) of the 4 Securities Exchange Act Release No. 82585 (Jan.
such default (‘‘Rule 1009’’).15 Rule 1009
Securities Exchange Act of 1934 25, 2018), 83 FR 4526 (Jan. 31, 2018) (File No. SR–
also would establish that OCC would
(‘‘Act’’),1 and Rule 19b–4 thereunder.2 OCC–2017–020).
5 The comment period closed on January 16, prioritize compensation of Clearing
The Proposed Rule Change was 2018. See Notice, supra note 3, 28 FR at 61116. Members that made voluntary payments
published for comment in the Federal 6 See letter from Jacqueline H. Mesa, Senior Vice
from any amounts recovered from the
Register on December 26, 2017.3 On President of Global Policy, Futures Industry defaulted Clearing Members.16
Association, dated January 16, 2018, to Brent J.
1 15 U.S.C. 78s(b)(1). Fields, Secretary, Commission (‘‘FIA Letter’’), Third, OCC proposed to adopt a new
2 17 CFR 240.19b–4. available at https://www.sec.gov/comments/sr-occ- rule that would provide the following
3 Securities Exchange Act Release No. 82351 (Dec. 2017-020/occ2017020.htm. authority (‘‘Rule 1111’’):
amozie on DSK30RV082PROD with NOTICES

7 15 U.S.C. 78s(b)(2)(B).
19, 2017), 82 FR 61107 (Dec. 26, 2017) (SR–OCC–
8 The description of the Proposed Rule Change is
2017–020) (‘‘Notice’’). On December 8, 2017, OCC 11 Id.
also filed a related advance notice (SR–OCC–2017– substantially excerpted from the Notice. See Notice,
12 Id. at 61108, 61109.
809) with the Commission pursuant to Section supra note 3, 82 FR at 61107–61109.
9 OCC’s By-Laws and Rules can be found on 13 Id. at 61108, 61109–10.
806(e)(1) of Title VIII of the Dodd-Frank Wall Street
14 Id. at 61109, 6110.
Reform and Consumer Protection Act, entitled the OCC’s public website: http://optionsclearing.com/
Payment, Clearing, and Settlement Supervision Act about/publications/bylaws.jsp. 15 Id.

of 2010 and Rule 19b–4(n)(1)(i) under the Act 10 Notice, supra note 3, 82 FR at 61107. 16 Id.

VerDate Sep<11>2014 18:47 Mar 26, 2018 Jkt 244001 PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 E:\FR\FM\27MRN1.SGM 27MRN1

Document Created: 2018-03-27 01:26:42
Document Modified: 2018-03-27 01:26:42

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		83 FR 13170