83 FR 20891 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 89 (May 8, 2018)

Page Range		20891-20892
FR Document		2018-09691

Federal Register, Volume 83 Issue 89 (Tuesday, May 8, 2018)

[Federal Register Volume 83, Number 89 (Tuesday, May 8, 2018)]
[Notices]
[Pages 20891-20892]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09691]


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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 AC; SEC File No. 270-517, OMB Control No. 3235-0575

    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 Regulation Analyst 
Certification (``Regulation AC'') (17 CFR 242.500-505, under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget (``OMB'') for extension and approval.
    Regulation AC requires that research reports published, circulated, 
or provided by a broker or dealer or covered person contain a statement 
attesting that the views expressed in each research report accurately 
reflect

[[Page 20892]]

the analyst's personal views and whether or not the research analyst 
received or will receive any compensation in connection with the views 
or recommendations expressed in the research report. Regulation AC also 
requires broker-dealers to, on a quarterly basis, make, keep, and 
maintain records of research analyst statements regarding whether the 
views expressed in public appearances accurately reflected the 
analyst's personal views, and whether any part of the analyst's 
compensation is related to the specific recommendations or views 
expressed in the public appearance. Regulation AC also requires that 
research prepared by foreign persons be presented to U.S. persons 
pursuant to Securities Exchange Act Rule 15a-6 and that broker-dealers 
notify associated persons if they would be covered by the regulation. 
Regulation AC excludes the news media from its coverage.
    The Commission estimates that Regulation AC imposes an aggregate 
annual time burden of approximately 25,844 hours on 5,186 respondents, 
or approximately 5 hours per respondent. The Commission estimates that 
the total annual internal cost of compliance for the 25,844 hours is 
approximately $12,452,349, or approximately $2,401 per respondent, 
annually.
    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 
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: [email protected].

    Dated: May 1, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-09691 Filed 5-7-18; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 89 / Tuesday, May 8, 2018 / Notices 20891

C. Self-Regulatory Organization’s determine, in consultation with market proposed rule change between the
Statement on Comments on the participants and other interested parties, Commission and any person, other than
Proposed Rule Change Received From whether changes to the amendments are those that may be withheld from the
Members, Participants, or Others appropriate, and if so, what those public in accordance with the
Written comments were neither changes should be.14 Therefore, the provisions of 5 U.S.C. 552, will be
solicited nor received. Commission hereby waives the 30-day available for website viewing and
operative delay requirement and printing in the Commission’s Public
III. Date of Effectiveness of the designates the proposed rule change as Reference Room, 100 F Street NE,
Proposed Rule Change and Timing for operative upon filing.15 Washington, DC 20549, on official
Commission Action At any time within 60 days of the business days between the hours of
Because the foregoing proposed rule filing of the proposed rule change, the 10:00 a.m. and 3:00 p.m. Copies of such
change does not: (i) Significantly affect Commission summarily may filing also will be available for
the protection of investors or the public temporarily suspend such rule change if inspection and copying at the principal
interest; (ii) impose any significant it appears to the Commission that such office of FINRA. All comments received
burden on competition; and (iii) become action is necessary or appropriate in the will be posted without change. Persons
operative for 30 days from the date on public interest, for the protection of submitting comments are cautioned that
which it was filed, or such shorter time investors, or otherwise in furtherance of we do not redact or edit personal
as the Commission may designate, it has the purposes of the Act. If the identifying information from comment
become effective pursuant to Section Commission takes such action, the submissions. You should submit only
19(b)(3)(A) of the Act 10 and Rule 19b– Commission shall institute proceedings information that you wish to make
4(f)(6) thereunder.11 to determine whether the proposed rule available publicly. All submissions
A proposed rule change filed under should be approved or disapproved. should refer to File Number SR–FINRA–
Rule 19b–4(f)(6) 12 normally does not 2018–017 and should be submitted on
IV. Solicitation of Comments or before May 29, 2018.
become operative for 30 days after the
date of filing. However, pursuant to Interested persons are invited to For the Commission, by the Division of
Rule 19b–4(f)(6)(iii),13 the Commission submit written data, views and Trading and Markets, pursuant to delegated
may designate a shorter time if such arguments concerning the foregoing, authority.16
action is consistent with the protection including whether the proposed rule Eduardo A. Aleman,
of investors and the public interest. change is consistent with the Act. Assistant Secretary.
FINRA has asked the Commission to Comments may be submitted by any of [FR Doc. 2018–09695 Filed 5–7–18; 8:45 am]
waive the 30-day operative delay so that the following methods: BILLING CODE 8011–01–P
the proposal may become operative Electronic Comments
upon filing. FINRA has stated that the
purpose of the proposed rule change is • Use the Commission’s internet SECURITIES AND EXCHANGE
to allow FINRA additional time to comment form (http://www.sec.gov/ COMMISSION
consider potential revisions to the rules/sro.shtml); or
requirements pursuant to SR–FINRA– • Send an email to rule-comments@ Proposed Collection; Comment
2015–036 and to consult with industry sec.gov. Please include File Number SR– Request
participants and other regulators FINRA–2018–017 on the subject line.
Upon Written Request, Copies Available
whether any revisions are appropriate, Paper Comments From: Securities and Exchange
in the interest of avoiding unnecessary • Send paper comments in triplicate Commission, Office of FOIA Services,
disruption to the Covered Agency to Secretary, Securities and Exchange 100 F Street NE, Washington, DC
Transaction market. The Commission Commission, 100 F Street NE, 20549–2736
believes that waiving the 30-day Washington, DC 20549–1090. Extension:
operative delay is consistent with the Regulation AC; SEC File No. 270–517,
protection of investors and the public All submissions should refer to File
Number SR–FINRA–2018–017. This file OMB Control No. 3235–0575
interest because the proposal to extend
the implementation date of certain number should be included on the Notice is hereby given that pursuant
amendments to FINRA Rule 4210 does subject line if email is used. To help the to the Paperwork Reduction Act of 1995
not raise any new or novel issues and Commission process and review your (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
will help to facilitate the comments more efficiently, please use Securities and Exchange Commission
implementation of the margin only one method. The Commission will (‘‘Commission’’) is soliciting comments
requirements for Covered Agency post all comments on the Commission’s on the existing collection of information
Transactions. Furthermore, the internet website (http://www.sec.gov/ provided for in Regulation Analyst
rules/sro.shtml). Copies of the Certification (‘‘Regulation AC’’) (17 CFR
Commission understands that market
submission, all subsequent 242.500–505, under the Securities
participants have expressed support for
amendments, all written statements Exchange Act of 1934 (15 U.S.C. 78a et
the extension of the implementation
with respect to the proposed rule seq.). The Commission plans to submit
date in order to give FINRA time to
change that are filed with the this existing collection of information to
10 15 Commission, and all written the Office of Management and Budget
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– communications relating to the (‘‘OMB’’) for extension and approval.
sradovich on DSK3GMQ082PROD with NOTICES

4(f)(6)(iii) requires FINRA to give the Commission Regulation AC requires that research
written notice of FINRA’s intent to file the proposed 14 See, e.g., Letter from Chris Killian, Managing reports published, circulated, or
rule change, along with a brief description and text Director, SIFMA (March 7, 2018), available at: provided by a broker or dealer or
of the proposed rule change, at least five business www.sec.gov. covered person contain a statement
days prior to the filing of the proposed rule change, 15 For purposes only of waiving the 30-day
or such shorter time as designated by the attesting that the views expressed in
operative delay, the Commission has also
Commission. FINRA has satisfied this requirement. considered the proposed rule’s impact on each research report accurately reflect
12 17 CFR 240.19b–4(f)(6).
efficiency, competition, and capital formation. See
13 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f). 16 17 CFR 200.30–3(a)(12).

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20892 Federal Register / Vol. 83, No. 89 / Tuesday, May 8, 2018 / Notices

the analyst’s personal views and Dated: May 1, 2018. A. Self-Regulatory Organization’s
whether or not the research analyst Eduardo A. Aleman, Statement of the Purpose of, and
received or will receive any Assistant Secretary. Statutory Basis for, the Proposed Rule
compensation in connection with the [FR Doc. 2018–09691 Filed 5–7–18; 8:45 am] Change
views or recommendations expressed in BILLING CODE 8011–01–P 1. Purpose
the research report. Regulation AC also
requires broker-dealers to, on a quarterly The Exchange proposes to list and
basis, make, keep, and maintain records SECURITIES AND EXCHANGE trade shares of the Fund (‘‘Shares’’)
of research analyst statements regarding COMMISSION under BZX Rule 14.11(c)(4),3 which
whether the views expressed in public governs the listing and trading of index
[Release No. 34–83152; File No. SR– fund shares based on fixed income
appearances accurately reflected the CboeBZX–2018–018] securities indexes.4 The Shares will be
analyst’s personal views, and whether
offered by the Trust, which was
any part of the analyst’s compensation Self-Regulatory Organizations; Cboe
established as a Delaware statutory trust
is related to the specific BZX Exchange, Inc.; Notice of Filing of
on March 05, 2013. The Trust is
recommendations or views expressed in a Proposed Rule Change To List and
registered with the Commission as an
the public appearance. Regulation AC Trade Shares of the Principal Morley
open-end investment company and has
also requires that research prepared by Short Duration Index ETF Under Rule
filed a registration statement on behalf
foreign persons be presented to U.S. 14.11(c)(4)
of the Fund on Form N–1A
persons pursuant to Securities Exchange May 2, 2018. (‘‘Registration Statement’’) with the
Act Rule 15a–6 and that broker-dealers Pursuant to Section 19(b)(1) of the Commission.5 All statements and
notify associated persons if they would Securities Exchange Act of 1934 (the
be covered by the regulation. Regulation ‘‘Act’’),1 and Rule 19b–4 thereunder,2 3 The Commission approved BZX Rule 14.11(c) in

AC excludes the news media from its notice is hereby given that on April 23, Securities Exchange Act Release No. 65225 (August
coverage. 30, 2011), 76 FR 55148 (September 6, 2011) (SR–
2018, Cboe BZX Exchange, Inc. BATS–2011–018).
The Commission estimates that (‘‘Exchange’’ or ‘‘BZX’’) filed with the 4 The Commission previously has approved

Regulation AC imposes an aggregate Securities and Exchange Commission proposed rule changes relating to listing and trading
of funds based on municipal bond indexes. See
annual time burden of approximately (‘‘Commission’’) the proposed rule Securities Exchange Act Release Nos. 78329 (July
25,844 hours on 5,186 respondents, or change as described in Items I and II 14, 2016), 81 FR 47217 (July 20, 2016) (SR–
approximately 5 hours per respondent. below, which Items have been prepared BatsBZX–2016–01) (order approving the listing and
The Commission estimates that the total by the Exchange. The Commission is trading of the following series of VanEck Vectors
ETF Trust: VanEck Vectors AMT-Free 6–8 Year
annual internal cost of compliance for publishing this notice to solicit Municipal Index ETF; VanEck Vectors AMT-Free 8–
the 25,844 hours is approximately comments on the proposed rule change 12 Year Municipal Index ETF; and VanEck Vectors
$12,452,349, or approximately $2,401 from interested persons. AMT-Free 12–17 Year Municipal Index ETF); 67985
(October 4, 2012), 77 FR 61804 (October 11, 2012)
per respondent, annually. I. Self-Regulatory Organization’s (SR–NYSEArca–2012–92) (order approving
Written comments are invited on: (a) Statement of the Terms of Substance of proposed rule change relating to the listing and
trading of iShares 2018 S&P AMT-Free Municipal
Whether the proposed collection of the Proposed Rule Change Series and iShares 2019 S&P AMT-Free Municipal
information is necessary for the proper The Exchange filed a proposal to list Series under NYSE Arca, Inc. (‘‘NYSE Arca’’) Rule
performance of the functions of the and trade under BZX Rule 14.11(c)(4) 5.2(j)(3), Commentary .02); 72523 (July 2, 2014), 79
Commission, including whether the FR 39016 (July 9, 2014) (SR–NYSEArca–2014–37)
the shares of the Principal Morley Short (order approving proposed rule change relating to
information shall have practical utility; Duration Index ETF (the ‘‘Fund’’) of the listing and trading of iShares 2020 S&P AMT-
(b) the accuracy of the Commission’s Principal Exchange-Traded Funds (the Free Municipal Series under NYSE Arca Rule
estimates of the burden of the proposed ‘‘Trust’’). 5.2(j)(3), Commentary .02); and 75468 (July 16,
collection of information; (c) ways to 2015), 80 FR 43500 (July 22, 2015) (SR–NYSEArca–
The text of the proposed rule change 2015–25) (order approving proposed rule change
enhance the quality, utility, and clarity is available at the Exchange’s website at relating to the listing and trading of the iShares
of the information collected; and (d) www.markets.cboe.com, at the principal iBonds Dec 2021 AMT-Free Muni Bond ETF and
ways to minimize the burden of the office of the Exchange, and at the iShares iBonds Dec 2022 AMT-Free Muni Bond
collection of information on ETF under NYSE Arca Rule 5.2(j)(3), Commentary
Commission’s Public Reference Room. .02). The Commission also has issued a notice of
respondents, including through the use filing and immediate effectiveness of a proposed
of automated collection techniques or II. Self-Regulatory Organization’s
rule change relating to listing and trading on NYSE
other forms of information technology. Statement of the Purpose of, and Arca of the iShares Taxable Municipal Bond Fund.
Consideration will be given to Statutory Basis for, the Proposed Rule See Securities Exchange Act Release No. 63176
comments and suggestions submitted in Change (October 25, 2010), 75 FR 66815 (October 29, 2010)
(SR–NYSEArca–2010–94). The Commission has
writing within 60 days of this In its filing with the Commission, the approved two actively managed funds of the PIMCO
publication. Exchange included statements ETF Trust that hold municipal bonds. See
concerning the purpose of and basis for Securities Exchange Act Release No. 60981
An agency may not conduct or (November 10, 2009), 74 FR 59594 (November 18,
sponsor, and a person is not required to the proposed rule change and discussed 2009) (SR–NYSEArca–2009–79) (order approving
respond to, a collection of information any comments it received on the listing and trading of PIMCO ShortTerm Municipal
under the PRA unless it displays a proposed rule change. The text of these Bond Strategy Fund and PIMCO Intermediate
statements may be examined at the Municipal Bond Strategy Fund, among others). The
currently valid OMB control number. Commission also has approved listing and trading
sradovich on DSK3GMQ082PROD with NOTICES

places specified in Item IV below. The of the SPDR Nuveen S&P High Yield Municipal
Please direct your written comments Exchange has prepared summaries, set Bond Fund. See Securities Exchange Act Release
to: Pamela Dyson, Director/Chief forth in Sections A, B, and C below, of No.63881 (February 9, 2011), 76 FR 9065 (February
Information Officer, Securities and the most significant parts of such 16, 2011) (SR–NYSEArca–2010–120).
5 See Registration Statement on Form N–1A for
Exchange Commission, c/o Remi Pavlik- statements. the Trust, dated September 1, 2017 (File Nos. 333–
Simon, 100 F Street NE, Washington, 201935 and 811–23029). The descriptions of the
DC 20549, or send an email to: PRA_ 1 15 U.S.C. 78s(b)(1). Fund and the Shares contained herein are based, in
Mailbox@sec.gov. 2 17 CFR 240.19b–4. part, on information in the Registration Statement.

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Document Created: 2018-05-08 01:32:13
Document Modified: 2018-05-08 01:32:13

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 20891