83 FR 2241 - Proposed Collection; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 10 (January 16, 2018)
Federal Register Volume 83, Issue 10 (January 16, 2018)
| Page Range | 2241-2242 | |
| FR Document | 2018-00502 |
[Federal Register Volume 83, Number 10 (Tuesday, January 16, 2018)] [Notices] [Pages 2241-2242] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-00502] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270-104, OMB Control No. 3235-0119] 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: Rule 12g3-2 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 12g3-2 (17 CFR 240.12g3-2) under the Securities Exchange Act of 1934 (the ``Exchange Act'') provides an exemption from Section 12(g) of the Exchange Act (15 U.S.C. 78l(g)) for foreign private issuers. Rule 12g3-2 is designed to provide investors in foreign securities with information about such securities and the foreign issuer. The information filed under Rule 12g3-2 must be filed with the Commission and is publicly available. We estimate that it takes 8.95 hours per response to prepare and is filed by approximately 1,386 respondents. Each respondent files an estimated 12 times submissions pursuant to Rule 12g3-2 per year for a total of 16,632 respondents. We estimate that 25% of 8.95 hours per response (2.237 hours per response) to provide the information required under Rule [[Page 2242]] 12g3-2 for a total annual reporting burden of 37,206 hours (2.237 hours per response x 16,632 responses). Written comments are invited on: (a) Whether this proposed collection of information is necessary for the 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: January 9, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-00502 Filed 1-12-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices 2241
five consecutive business days shareholders of a security underlying an Exchange be designed to prevent
preceding the date on which the option. The Exchange states that the fraudulent and manipulative acts and
Exchange submits a certificate to the proposed look back period of three practices.
Options Clearing Corporation (‘‘OCC’’) consecutive business days is intended to
IV. Conclusion
for listing and trading. The Proposal correspond to the securities industry’s
would shorten the current ‘‘look back’’ recent shortening of the settlement It is therefore ordered that, pursuant
period of five consecutive business days period from T+3 to the current T+2.10 to Section 19(b)(2) of the Act,13 that the
to three consecutive business days. The The Exchange represents that stock proposed rule change (SR–Phlx–2017–
Exchange does not propose to amend trades would clear within T+2 of their 75), be and hereby is, approved.
any other criteria in Phlx Rule 1009 and trade date (i.e., within three consecutive For the Commission, by the Division of
the accompanying Commentary to list business days) and therefore the number Trading and Markets, pursuant to delegated
an option on the Exchange. of shareholders could be verified within authority.14
III. Discussion and Commission’s three consecutive business days.11 This Eduardo A. Aleman,
Findings would facilitate options trading within Assistant Secretary.
four business days of an IPO (three [FR Doc. 2018–00531 Filed 1–12–18; 8:45 am]
After careful review of the proposed consecutive business days plus the day BILLING CODE 8011–01–P
rule change, the Commission finds that the listing certificate is submitted to
the proposal is consistent with the OCC).
requirements of the Act and the rules The Exchange also represents that its SECURITIES AND EXCHANGE
and regulations thereunder that are surveillance technologies and COMMISSION
applicable to a national securities procedures concerning manipulation
exchange.7 Specifically, the provide adequate prevention or [SEC File No. 270–104, OMB Control No.
Commission finds that the proposed 3235–0119]
detection of rule or securities law
rule change is consistent with Section violations in relation to the proposed
6(b)(5) of the Act,8 which requires that Proposed Collection; Comment
shortened time frame, and specifically, Request
the rules of a national securities that its existing trading surveillances are
exchange be designed, among other adequate to monitor the trading in the Upon Written Request Copies Available
things, to prevent fraudulent and underlying security and subsequent From: Securities and Exchange
manipulative acts and practices, to trading of options.12 The Commission Commission, Office of FOIA Services,
promote just and equitable principles of notes the limited nature of the proposal 100 F Street NE, Washington, DC
trade, to foster cooperation and to shorten the look back period of Phlx 20549–2736
coordination with persons engaged in Rule 1009, Commentary .01(4)(i) from
regulating, clearing, settling, processing Extension:
the current five consecutive business Rule 12g3–2
information with respect to, and days to the proposed three consecutive
facilitating transactions in securities, to Notice is hereby given that, pursuant
business days. In addition, the Exchange
remove impediments to and perfect the to the Paperwork Reduction Act of 1995
represents that its surveillance program
mechanism of a free and open market (44 U.S.C. 3501 et seq.), the Securities
is comprehensive and adequate to
and a national market system, and to and Exchange Commission
monitor for manipulation of the
protect investors and the public interest; (‘‘Commission’’) is soliciting comments
underlying security and overlying
and are not designed to permit unfair on the collection of information
option. The Commission also notes that
discrimination between customers, summarized below. The Commission
it has not received any comments on the
issuers, brokers, or dealers. plans to submit this existing collection
As noted above, although the proposal, aside from the Exchange
of information to the Office of
Exchange proposes to shorten the look Letter.
The Commission finds that the Management and Budget for extension
back period for listing options on the and approval.
proposal, coupled with the recent move
Exchange found in Phlx Rule 1009, Rule 12g3–2 (17 CFR 240.12g3–2)
to T+2 settlement, would facilitate
Commentary .01(4)(i) from five under the Securities Exchange Act of
consecutive business days 9 to three transactions in securities, while
1934 (the ‘‘Exchange Act’’) provides an
consecutive business days, it does not providing customers safeguards
exemption from Section 12(g) of the
propose to change any other listing comparable to those provided under the
Exchange Act (15 U.S.C. 78l(g)) for
provision found in Phlx Rule 1009 and current five consecutive business day
foreign private issuers. Rule 12g3–2 is
the accompanying Commentary, look back period. Accordingly, the
designed to provide investors in foreign
including the requirement of Phlx Rule Commission finds that the proposed
securities with information about such
1009, Commentary .01(2) that the rule change is consistent with the
securities and the foreign issuer. The
Exchange verify the number of requirements of the Act, specifically the
information filed under Rule 12g3–2
requirements that the rules of an
must be filed with the Commission and
7 In approving this rule change, the Commission
10 See Securities Exchange Act Release No. 80295
is publicly available. We estimate that it
has considered the rule’s impact on efficiency,
competition, and capital formation. See 15 U.S.C. (March 22, 2017), 82 FR 15564 (March 29, 2017) takes 8.95 hours per response to prepare
78c(f). (Securities Transaction Settlement Cycle) (File No. and is filed by approximately 1,386
8 15 U.S.C. 78f(b)(5). S7–22–16). respondents. Each respondent files an
11 In addition to confirming through large clearing
9 See Securities Exchange Act Release Nos. 47190
estimated 12 times submissions
(January 15, 2003), 68 FR 3072 (January 22, 2003) agencies such as the Depository Trust and Clearing
pursuant to Rule 12g3–2 per year for a
daltland on DSKBBV9HB2PROD with NOTICES
(SR–CBOE–2002–62) (Order approving CBOE’s Corporation, the Exchange also represents that it
proposal to, among other things, shorten the look can verify the shareholder count with various total of 16,632 respondents. We estimate
back period from the majority of business days brokerage firms that have a large retail customer that 25% of 8.95 hours per response
during the preceding three calendar months to the clientele, and that it has confirmed with some of (2.237 hours per response) to provide
current five consecutive business days); 47794 (May these brokerage firms who provide shareholder
numbers to the Exchange that they are able to the information required under Rule
5, 2003), 68 FR 25076 (May 9, 2003) (SR–Phlx–
2003–27) (Notice and immediate effectiveness of provide these numbers within T+2 after an IPO.
12 See Notice, supra note 3 at 47255–256; 13 15 U.S.C. 78s(b)(2).
the Exchange’s filing adopting the same changes to
its options listing standards). Exchange Letter, supra note 4 at 2–3. 14 17 CFR 200.30–3(a)(12).
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![2242 Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices
12g3–2 for a total annual reporting the offer and sale of American SECURITIES AND EXCHANGE
burden of 37,206 hours (2.237 hours per Depositary Receipts (ADRs) under the COMMISSION
response × 16,632 responses). Securities Act of 1933 (15 U.S.C. 77a et
Written comments are invited on: (a) [SEC File No. 270–236, OMB Control No.
seq.). Form F–6 requires disclosure of 3235–0222]
Whether this proposed collection of information regarding the terms of the
information is necessary for the depository bank, fees charged, and a Proposed Collection; Comment
performance of the functions of the description of the ADRs. No special Request
agency, including whether the information regarding the foreign
information will have practical utility; Upon Written Request, Copies Available
company is required to be prepared or From: Securities and Exchange
(b) the accuracy of the agency’s estimate
disclosed, although the foreign company Commission, Office of FOIA Services,
of the burden imposed by the collection
must be one which periodically 100 F Street NE, Washington, DC
of information; (c) ways to enhance the
furnishes information to the 20549–2736
quality, utility, and clarity of the
information collected; and (d) ways to Commission. The information is needed
Extension:
minimize the burden of the collection of to ensure that investors in ADRs have Rule 17f–1
information on respondents, including full disclosure of information
Notice is hereby given that pursuant
through the use of automated collection concerning the deposit agreement and
to the Paperwork Reduction Act of 1995
techniques or other forms of information the foreign company. Form F–6 takes
(44 U.S.C. 3501 et seq.), the Securities
technology. Consideration will be given approximately 1.35 hour per response to and Exchange Commission (the
to comments and suggestions submitted prepare and is filed by 953 respondents ‘‘Commission’’) is soliciting comments
in writing within 60 days of this annually. We estimate that 25% of the on the collections of information
publication. 1.35 hour per response (0.338 hours) is summarized below. The Commission
An agency may not conduct or prepared by the filer for a total annual plans to submit these existing
sponsor, and a person is not required to reporting burden of 322 hours (0.338 collections of information to the Office
respond to, a collection of information hours per response x 953 responses). of Management and Budget for
unless it displays a currently valid Written comments are invited on: (a) extension and approval.
control number. Rule 17f–1 (17 CFR 270.17f–1) under
Whether the proposed collection of
Please direct your written comment to the Investment Company Act of 1940
Pamela Dyson, Director/Chief information is necessary for the proper
performance of the functions of the (the ‘‘Act’’) (15 U.S.C. 80a) is entitled:
Information Officer, Securities and ‘‘Custody of Securities with Members of
Exchange Commission, c/o Remi Pavlik- agency, including whether the
National Securities Exchanges.’’ Rule
Simon, 100 F Street NE, Washington, information will have practical utility;
17f–1 provides that any registered
DC 20549 or send an email to: PRA_ (b) the accuracy of the agency’s estimate management investment company
Mailbox@sec.gov. of the burden imposed by the collection (‘‘fund’’) that wishes to place its assets
of information; (c) ways to enhance the in the custody of a national securities
Dated: January 9, 2018.
quality, utility, and clarity of the exchange member may do so only under
Eduardo A. Aleman,
information collected; and (d) ways to a written contract that must be ratified
Assistant Secretary.
minimize the burden of the collection of initially and approved annually by a
[FR Doc. 2018–00502 Filed 1–12–18; 8:45 am]
information on respondents, including majority of the fund’s board of directors.
BILLING CODE 8011–01–P
through the use of automated collection The written contract also must contain
techniques or other forms of information certain specified provisions. In addition,
SECURITIES AND EXCHANGE technology. Consideration will be given the rule requires an independent public
COMMISSION to comments and suggestions submitted accountant to examine the fund’s assets
in writing within 60 days of this in the custody of the exchange member
[SEC File No. 270–270, OMB Control No. publication. at least three times during the fund’s
3235–0292] fiscal year. The rule requires the written
An agency may not conduct or
contract and the certificate of each
Proposed Collection; Comment sponsor, and a person is not required to examination to be transmitted to the
Request respond to, a collection of information Commission. The purpose of the rule is
Upon Written Request Copies Available unless it displays a currently valid to ensure the safekeeping of fund assets.
From: Securities and Exchange control number. Commission staff estimates that each
Commission, Office of FOIA Services, Please direct your written comments fund makes 1 response and spends an
100 F Street NE, Washington, DC to Pamela Dyson, Director/Chief average of 3.5 hours annually in
20549–2736. Information Officer, Securities and complying with the rule’s requirements.
Extension: Exchange Commission, c/o Remi Pavlik- Commission staff estimates that on an
Form F–6. Simon, 100 F Street NE, Washington, annual basis it takes: (i) 0.5 hours for the
DC 20549; or send an email to: PRA_ board of directors 1 to review and ratify
Notice is hereby given that, pursuant the custodial contracts; and (ii) 3 hours
to the Paperwork Reduction Act of 1995 Mailbox@sec.gov.
for the fund’s controller to assist the
(44 U.S.C. 3501 et seq.), the Securities Dated: January 8, 2018. fund’s independent public auditors in
and Exchange Commission Eduardo A. Aleman, verifying the fund’s assets.
(‘‘Commission’’) is soliciting comments
daltland on DSKBBV9HB2PROD with NOTICES
Assistant Secretary.
on the collection of information 1 Estimates of the number of hours are based on
[FR Doc. 2018–00500 Filed 1–12–18; 8:45 am]
summarized below. The Commission conversations with representatives of mutual funds
plans to submit this existing collection BILLING CODE 8011–01–P that comply with the rule. The actual number of
of information to the Office of hours may vary significantly depending on
individual fund assets. The hour burden for rule
Management and Budget for approval. 17f–1 does not include preparing the custody
Form F–6 (17 CFR 239.36) is a form contract because that would be part of customary
used by foreign companies to register and usual business practice.
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Document Created: 2018-01-13 02:02:59
Document Modified: 2018-01-13 02:02:59
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 83 FR 2241 |
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