83 FR 16413 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 73 (April 16, 2018)

Page Range		16413-16413
FR Document		2018-07795

Federal Register, Volume 83 Issue 73 (Monday, April 16, 2018)

[Federal Register Volume 83, Number 73 (Monday, April 16, 2018)]
[Notices]
[Page 16413]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-07795]


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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.

Extension:
    Regulation BTR, SEC File No. 270-521, OMB Control No. 3235-0579.

    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.
    Regulation Blackout Trade Restriction (``Regulation BTR'') (17 CFR 
245.100-245.104) clarifies the scope and application of Section 306(a) 
of the Sarbanes-Oxley Act of 2002 (``Act'') (15 U.S.C. 7244(a)). 
Section 306(a)(6) [15 U.S.C. 7244(a)(6)] of the Act requires an issuer 
to provide timely notice to its directors and executive officers and to 
the Commission of the imposition of a blackout period that would 
trigger the statutory trading prohibition of Section 306(a)(1) [15 
U.S.C. 7244(a)(1)]. Section 306(a) of the Act prohibits any director or 
executive officer of an issuer of any equity security, directly or 
indirectly, from purchasing, selling or otherwise acquiring or 
transferring any equity security of that issuer during any blackout 
period with respect to such equity security, if the director or 
executive officer acquired the equity security in connection with his 
or her service or employment. Approximately 1,230 issuers file 
Regulation BTR notices approximately 5 times a year for a total of 
6,150 responses. We estimate that it takes approximately 2 hours to 
prepare the blackout notice for a total annual burden of 2,460 hours. 
The issuer prepares 75% of the 2,460 annual burden hours for a total 
reporting burden of (1,230 x 2 x 0.75) 1,845 hours. In addition, we 
estimate that an issuer distributes a notice to five directors and 
executive officers at an estimated 5 minutes per notice (1,230 blackout 
period x 5 notices x 5 minutes) for a total reporting burden of 512 
hours. The combined annual reporting burden is (1,845 hours + 512 
hours) 2,357 hours.
    Written comments are invited on: (a) Whether this collection of 
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 
imposed by 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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Please direct your written comment 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: [email protected].

    Dated: April 9, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-07795 Filed 4-13-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 73 / Monday, April 16, 2018 / Notices 16413

III. Date of Effectiveness of the printing in the Commission’s Public 306(a) of the Act prohibits any director
Proposed Rule Change and Timing for Reference Room, 100 F Street NE, or executive officer of an issuer of any
Commission Action Washington, DC 20549, on official equity security, directly or indirectly,
The foregoing rule change has become business days between the hours of from purchasing, selling or otherwise
effective pursuant to Section 19(b)(3)(A) 10:00 a.m. and 3:00 p.m. Copies of the acquiring or transferring any equity
of the Act 12 and paragraph (f) of Rule filing also will be available for security of that issuer during any
19b–4 13 thereunder. At any time within inspection and copying at the principal blackout period with respect to such
60 days of the filing of the proposed rule office of the Exchange. All comments equity security, if the director or
change, the Commission summarily may received will be posted without change. executive officer acquired the equity
temporarily suspend such rule change if Persons submitting comments are security in connection with his or her
it appears to the Commission that such cautioned that we do not redact or edit service or employment. Approximately
action is necessary or appropriate in the personal identifying information from 1,230 issuers file Regulation BTR
public interest, for the protection of comment submissions. You should
notices approximately 5 times a year for
investors, or otherwise in furtherance of submit only information that you wish
a total of 6,150 responses. We estimate
the purposes of the Act. If the to make available publicly. All
submissions should refer to File that it takes approximately 2 hours to
Commission takes such action, the prepare the blackout notice for a total
Commission will institute proceedings Number SR–CboeBZX–2018–027 and
should be submitted on or before May annual burden of 2,460 hours. The
to determine whether the proposed rule issuer prepares 75% of the 2,460 annual
change should be approved or 7, 2018.
burden hours for a total reporting
disapproved. For the Commission, by the Division of
Trading and Markets, pursuant to delegated
burden of (1,230 x 2 × 0.75) 1,845 hours.
IV. Solicitation of Comments authority.14 In addition, we estimate that an issuer
Eduardo A. Aleman, distributes a notice to five directors and
Interested persons are invited to
submit written data, views, and Assistant Secretary.
executive officers at an estimated 5
arguments concerning the foregoing, minutes per notice (1,230 blackout
[FR Doc. 2018–07811 Filed 4–13–18; 8:45 am]
including whether the proposed rule period × 5 notices × 5 minutes) for a
BILLING CODE 8011–01–P
change is consistent with the Act. total reporting burden of 512 hours. The
Comments may be submitted by any of combined annual reporting burden is
the following methods: SECURITIES AND EXCHANGE (1,845 hours + 512 hours) 2,357 hours.
COMMISSION Written comments are invited on: (a)
Electronic Comments
Whether this collection of information
• Use the Commission’s internet Proposed Collection; Comment is necessary for the proper performance
comment form (http://www.sec.gov/ Request
of the functions of the agency, including
rules/sro.shtml); or whether the information will have
Upon Written Request Copies Available
• Send an email to rule-comments@ practical utility; (b) the accuracy of the
From: Securities and Exchange
sec.gov. Please include File Number SR–
Commission, Office of FOIA Services, agency’s estimate of the burden imposed
CboeBZX–2018–027 on the subject line.
100 F Street NE, Washington, DC by the collection of information; (c)
Paper Comments 20549–2736. ways to enhance the quality, utility, and
• Send paper comments in triplicate Extension: clarity of the information collected; and
to Secretary, Securities and Exchange Regulation BTR, SEC File No. 270–521, (d) ways to minimize the burden of the
Commission, 100 F Street NE, OMB Control No. 3235–0579. collection of information on
Washington, DC 20549–1090. Notice is hereby given that, pursuant respondents, including through the use
All submissions should refer to File to the Paperwork Reduction Act of 1995 of automated collection techniques or
Number SR–CboeBZX–2018–027. This (44 U.S.C. 3501 et seq.), the Securities other forms of information technology.
file number should be included on the and Exchange Commission Consideration will be given to
subject line if email is used. To help the (‘‘Commission’’) is soliciting comments comments and suggestions submitted in
Commission process and review your on the collection of information writing within 60 days of this
comments more efficiently, please use summarized below. The Commission publication.
only one method. The Commission will plans to submit this existing collection An agency may not conduct or
post all comments on the Commission’s of information to the Office of sponsor, and a person is not required to
internet website (http://www.sec.gov/ Management and Budget for extension respond to, a collection of information
rules/sro.shtml). Copies of the and approval. unless it displays a currently valid
submission, all subsequent Regulation Blackout Trade Restriction control number.
amendments, all written statements (‘‘Regulation BTR’’) (17 CFR 245.100–
with respect to the proposed rule 245.104) clarifies the scope and Please direct your written comment to
change that are filed with the application of Section 306(a) of the Pamela Dyson, Director/Chief
Commission, and all written Sarbanes-Oxley Act of 2002 (‘‘Act’’) (15 Information Officer, Securities and
communications relating to the U.S.C. 7244(a)). Section 306(a)(6) [15 Exchange Commission, c/o Remi Pavlik-
proposed rule change between the U.S.C. 7244(a)(6)] of the Act requires an Simon, 100 F Street NE, Washington,
Commission and any person, other than issuer to provide timely notice to its DC 20549 or send an email to: PRA_
srobinson on DSK3G9T082PROD with NOTICES

those that may be withheld from the directors and executive officers and to Mailbox@sec.gov.
public in accordance with the the Commission of the imposition of a Dated: April 9, 2018.
provisions of 5 U.S.C. 552, will be blackout period that would trigger the
Eduardo A. Aleman,
available for website viewing and statutory trading prohibition of Section
306(a)(1) [15 U.S.C. 7244(a)(1)]. Section Assistant Secretary.
12 15 U.S.C. 78s(b)(3)(A). [FR Doc. 2018–07795 Filed 4–13–18; 8:45 am]
13 17 CFR 240.19b–4(f). 14 17 CFR 200.30–3(a)(12). BILLING CODE 8011–01–P

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Document Created: 2018-04-14 02:19:11
Document Modified: 2018-04-14 02:19:11

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 16413