83 FR 2275 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 10 (January 16, 2018)

Page Range		2275-2276
FR Document		2018-00494

Federal Register, Volume 83 Issue 10 (Tuesday, January 16, 2018)

[Federal Register Volume 83, Number 10 (Tuesday, January 16, 2018)]
[Notices]
[Pages 2275-2276]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-00494]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-135, OMB Control No. 3235-0176]


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:
    Rules 8b-1 to 8b-33

    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

[[Page 2276]]

on the collection of information summarized below. The Commission plans 
to submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Rules 8b-1 to 8b-33 (17 CFR 270.8b-1 to 8b-33) under the Investment 
Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company 
Act'') set forth the procedures for preparing and filing a registration 
statement under the Investment Company Act. These procedures are 
intended to facilitate the registration process. These rules generally 
do not require respondents to report information.\1\
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    \1\ Although the rules under Section 8(b) of the Investment 
Company Act are generally procedural in nature, two of the rules 
require respondents to disclose some limited information. Rule 8b-3 
(17 CFR 270.8b-3) provides that whenever a registration form 
requires the title of securities to be stated, the registrant must 
indicate the type and general character of the securities to be 
issued. Rule 8b-22 (17 CFR 270.8b-22) provides that if the existence 
of control is open to reasonable doubt, the registrant may disclaim 
the existence of control, but it must state the material facts 
pertinent to the possible existence of control. The information 
required by both of these rules is necessary to insure that 
investors have clear and complete information upon which to base an 
investment decision.
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    The Commission believes that it is appropriate to estimate the 
total respondent burden associated with preparing each registration 
statement form rather than attempt to isolate the impact of the 
procedural instructions under Section 8(b) of the Investment Company 
Act, which impose burdens only in the context of the preparation of the 
various registration statement forms. Accordingly, the Commission is 
not submitting a separate burden estimate for rules 8b-1 through 8b-33, 
but instead will include the burden for these rules in its estimates of 
burden for each of the registration forms under the Investment Company 
Act. The Commission is, however, submitting an hourly burden estimate 
of one hour for administrative purposes.
    The collection of information under rules 8b-1 to 8b-33 is 
mandatory. The information provided under rules 8b-1 to 8b-33 is not 
kept confidential. 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 OMB control number.
    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission'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, 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. 2018-00494 Filed 1-12-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices 2275

parameters and assumptions, by a OCC’s services or disadvantage or favor internet website (http://www.sec.gov/
qualified person who is free from any particular user in relationship to rules/sro.shtml). Copies of the
influence from the persons responsible another user. submission, all subsequent
for the development or operation of the For the foregoing reasons, OCC amendments, all written statements
models being validated. As noted above, believes that the proposed rule change with respect to the proposed rule
the proposed Policy provides that OCC’s is in the public interest, would be change that are filed with the
model validation staff reviews each Risk consistent with the requirements of the Commission, and all written
Model in OCC’s inventory, including Act applicable to clearing agencies, and communications relating to the
margin models, at least annually and would not impact or impose a burden proposed rule change between the
such staff is removed from the primary on competition. Commission and any person, other than
development path of a model to those that may be withheld from the
preserve its ability to provide an (C) Clearing Agency’s Statement on
public in accordance with the
independent assessment. Comments on the Proposed Rule
provisions of 5 U.S.C. 552, will be
Finally, Rule 17Ad–22(b)(2) 26 Change Received From Members,
available for website viewing and
requires, in part, that a registered Participants or Others
printing in the Commission’s Public
clearing agency establish, implement, Written comments on the proposed Reference Room, 100 F Street NE,
maintain and enforce written policies rule change were not and are not Washington, DC 20549, on official
and procedures reasonably designed to intended to be solicited with respect to business days between the hours of
use risk-based models and parameters to the proposed rule change and none have 10:00 a.m. and 3:00 p.m. Copies of such
set margin requirements. OCC believes been received. filing also will be available for
that the proposed Policy would provide inspection and copying at the principal
for clear identification of its risk-based III. Date of Effectiveness of the
Proposed Rule Change and Timing for office of OCC and on OCC’s website at
models and thereby promote https://www.theocc.com/components/
compliance with the requirement in Commission Action
docs/legal/rules_and_bylaws/sr_occ_17_
Rule 17Ad–22(b)(2) 27 that OCC’s Within 45 days of the date of 011.pdf.
policies and procedures be reasonably publication of this notice in the Federal All comments received will be posted
designed to use risk-based models and Register or within such longer period without change. Persons submitting
parameters to set margin requirements. up to 90 days (i) as the Commission may comments are cautioned that we do not
The proposed rule change is not designate if it finds such longer period redact or edit personal identifying
inconsistent with the existing rules of to be appropriate and publishes its information from comment submissions.
OCC, including any other rules reasons for so finding or (ii) as to which You should submit only information
proposed to be amended. the self-regulatory organization that you wish to make available
consents, the Commission will: publicly.
(B) Clearing Agency’s Statement on
(A) By order approve or disapprove All submissions should refer to File
Burden on Competition
the proposed rule change, or Number SR–OCC–2017–011 and should
Section 17A(b)(3)(I) of the Act 28 (B) institute proceedings to determine be submitted on or before February 6,
requires that the rules of a clearing whether the proposed rule change 2018.
agency not impose any burden on should be disapproved.
competition not necessary or For the Commission, by the Division of
appropriate in furtherance of the IV. Solicitation of Comments Trading and Markets, pursuant to delegated
authority.29
purposes of the Act. OCC does not Interested persons are invited to
submit written data, views and Eduardo A. Aleman,
believe that the proposed rule change
would impact or impose any burden on arguments concerning the foregoing, Assistant Secretary.
competition. The proposed rule change including whether the proposed rule [FR Doc. 2018–00530 Filed 1–12–18; 8:45 am]
addresses OCC’s internal framework change is consistent with the Act. BILLING CODE 8011–01–P
surrounding the governance, Comments may be submitted by any of
development, implementation, use, the following methods:
monitoring, and validation of Risk SECURITIES AND EXCHANGE
Electronic Comments COMMISSION
Models. Under this framework, OCC’s
controls regarding the design, use, • Use the Commission’s internet [SEC File No. 270–135, OMB Control No.
implementation and validation of comment form (http://www.sec.gov/ 3235–0176]
models, as set forth in the proposed rules/sro.shtml); or
Policy, insofar as they affect margin or • Send an email to rule-comments@ Proposed Collection; Comment
Clearing Fund requirements, would sec.gov. Please include File Number SR– Request
have an equal impact on all Clearing OCC–2017–011 on the subject line.
Upon Written Request, Copies Available
Members. Consequently, the proposed Paper Comments From: Securities and Exchange
Policy does not provide any Clearing Commission, Office of FOIA Services,
Member with a competitive advantage • Send paper comments in triplicate
to Secretary, Securities and Exchange 100 F Street NE, Washington, DC
over any other Clearing Member. 20549–2736.
Further, the proposed rule change Commission, 100 F Street NE,
would not affect any Clearing Member’s Washington, DC 20549–1090. Extension:
All submissions should refer to File Rules 8b–1 to 8b–33
access to OCC’s services or impose any
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direct burdens on Clearing Members. Number SR–OCC–2017–011. This file Notice is hereby given that, pursuant
Accordingly, the proposed rule change number should be included on the to the Paperwork Reduction Act of 1995
would not unfairly inhibit access to subject line if email is used. To help the (44 U.S.C. 3501 et seq.), the Securities
Commission process and review your and Exchange Commission
26 17 CFR 240.17Ad–22(b)(2). comments more efficiently, please use (‘‘Commission’’) is soliciting comments
27 Id. only one method. The Commission will
28 15 U.S.C. 78q–1(b)(3)(I). post all comments on the Commission’s 29 17 CFR 200.30–3(a)(12).

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2276 Federal Register / Vol. 83, No. 10 / Tuesday, January 16, 2018 / Notices

on the collection of information enhance the quality, utility, and clarity II. Self-Regulatory Organization’s
summarized below. The Commission of the information collected; and (d) Statement of the Purpose of, and
plans to submit this existing collection ways to minimize the burden of the Statutory Basis for, the Proposed Rule
of information to the Office of collection of information on Change
Management and Budget (‘‘OMB’’) for respondents, including through the use In its filing with the Commission, the
extension and approval. of automated collection techniques or Exchange included statements
Rules 8b–1 to 8b–33 (17 CFR 270.8b– other forms of information technology. concerning the purpose of and basis for
1 to 8b–33) under the Investment Consideration will be given to the proposed rule change and discussed
Company Act of 1940 (15 U.S.C. 80a–1 comments and suggestions submitted in any comments it received on the
et seq.) (‘‘Investment Company Act’’) set writing within 60 days of this proposed rule change. The text of these
forth the procedures for preparing and publication. statements may be examined at the
filing a registration statement under the Please direct your written comments places specified in Item IV below. The
Investment Company Act. These to Pamela Dyson, Director/Chief Exchange has prepared summaries, set
procedures are intended to facilitate the Information Officer, Securities and forth in sections A, B, and C below, of
registration process. These rules Exchange Commission, C/O Remi the most significant aspects of such
generally do not require respondents to Pavlik-Simon, 100 F Street NE, statements.
report information.1 Washington, DC 20549; or send an email
The Commission believes that it is to: PRA_Mailbox@sec.gov. A. Self-Regulatory Organization’s
appropriate to estimate the total Statement of the Purpose of, and
respondent burden associated with Dated: January 9, 2018.
Statutory Basis for, the Proposed Rule
preparing each registration statement Eduardo A. Aleman,
Change
form rather than attempt to isolate the Assistant Secretary.
impact of the procedural instructions [FR Doc. 2018–00494 Filed 1–12–18; 8:45 am] 1. Purpose
under Section 8(b) of the Investment BILLING CODE 8011–01–P The Exchange proposes to amend a
Company Act, which impose burdens cross-reference in Rule 1017, entitled
only in the context of the preparation of ‘‘Openings in Options.’’ Specifically, the
the various registration statement forms. SECURITIES AND EXCHANGE Exchange proposes to amend 1017(h)
Accordingly, the Commission is not COMMISSION which currently states, ‘‘In addition,
submitting a separate burden estimate [Release No. 34–82470; File No. SR–Phlx–
paragraphs (i)(iii) and (j)(5)–(7) below
for rules 8b–1 through 8b–33, but 2018–05] contain additional provisions related to
instead will include the burden for Potential Opening Price.’’ The first
these rules in its estimates of burden for Self-Regulatory Organizations; Nasdaq citation is incomplete and contains a
each of the registration forms under the PHLX LLC; Notice of Filing and non-existent reference. The Exchange
Investment Company Act. The Immediate Effectiveness of Proposed proposes to amend the sentence to state,
Commission is, however, submitting an Rule Change To Amend a Cross- ‘‘In addition, paragraphs (i)(A)(iii) and
hourly burden estimate of one hour for Reference in Rule 1017 (Openings in (j)(5)–(7) below contain additional
administrative purposes. Options) provisions related to Potential Opening
The collection of information under Price.’’ The reference is to the phrase,
rules 8b–1 to 8b–33 is mandatory. The January 9, 2018. ‘‘The Exchange will open the option
information provided under rules 8b–1 Pursuant to Section 19(b)(1) of the series for trading with a trade on
to 8b–33 is not kept confidential. An Securities Exchange Act of 1934 Exchange interest only at the Opening
agency may not conduct or sponsor, and (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Price, if any of these conditions occur
a person is not required to respond to, notice is hereby given that on January 5, where there is no ABBO, the Potential
a collection of information unless it 2018, Nasdaq PHLX LLC (‘‘Phlx’’ or Opening Price is at or within the Pre-
displays a currently valid OMB control ‘‘Exchange’’) filed with the Securities Market BBO which is also a Quality
number. and Exchange Commission Opening Market.’’ The reference was
Written comments are invited on: (a) (‘‘Commission’’) the proposed rule intended to act as a roadmap within the
Whether the collection of information is change as described in Items I and II rule to direct the reader to the possible
necessary for the proper performance of below, which Items have been prepared outcomes in the Opening Process.
the functions of the Commission, by the Exchange. The Commission is The Exchange believes that this non-
including whether the information has publishing this notice to solicit substantive rule change will bring
practical utility; (b) the accuracy of the comments on the proposed rule change greater clarity to the rule text by
Commission’s estimate of the burden of from interested persons. providing the intended guidance
the collection of information; (c) ways to concerning the manner in which the
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance Exchange could calculate the Potential
1 Although the rules under Section 8(b) of the
of the Proposed Rule Change Opening Price.
Investment Company Act are generally procedural
in nature, two of the rules require respondents to
The Exchange proposes to amend a 2. Statutory Basis
disclose some limited information. Rule 8b–3 (17
CFR 270.8b–3) provides that whenever a cross-reference in Rule 1017, entitled The Exchange believes that its
registration form requires the title of securities to ‘‘Openings in Options.’’ proposal is consistent with Section 6(b)
be stated, the registrant must indicate the type and The text of the proposed rule change of the Act,3 in general, and furthers the
general character of the securities to be issued. Rule
is available on the Exchange’s website at objectives of Section 6(b)(5) of the Act,4
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8b–22 (17 CFR 270.8b–22) provides that if the
existence of control is open to reasonable doubt, the http://nasdaqphlx.cchwallstreet.com/, in particular, in that it is designed to
registrant may disclaim the existence of control, but at the principal office of the Exchange, promote just and equitable principles of
it must state the material facts pertinent to the and at the Commission’s Public trade, to remove impediments to and
possible existence of control. The information
required by both of these rules is necessary to
Reference Room. perfect the mechanism of a free and
insure that investors have clear and complete
1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78f(b).
information upon which to base an investment
decision. 2 17 CFR 240.19b–4. 4 15 U.S.C. 78f(b)(5).

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Document Created: 2018-01-13 02:02:18
Document Modified: 2018-01-13 02:02:18

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 2275