83 FR 28284 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 117 (June 18, 2018)
Federal Register Volume 83, Issue 117 (June 18, 2018)
| Page Range | 28284-28285 | |
| FR Document | 2018-12984 |
[Federal Register Volume 83, Number 117 (Monday, June 18, 2018)] [Notices] [Pages 28284-28285] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-12984] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; 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 15Ga-2 and Form ABS-15G, SEC File No. 270-620, OMB Control No. 3235-0675 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'') has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below. Rule 15Ga-2 and Form ABS-15G (17 CFR 249.1400) is used for reports of information required under Rule 15Ga-1 and Rule 15Ga-2 (17 CFR 240.15Ga-1) (17 CFR 240.15Ga-2) of the Exchange Act of 1934 (``Exchange Act''). Exchange Act Rule 15Ga-1 requires asset-backed securitizers to provide disclosure regarding fulfilled an unfulfilled repurchase requests with respect to asset-backed securities. The purpose of the information collected on Form ABS-15G is to implement the disclosure requirements of Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide information regarding the use of representations and warranties in the asset-backed securities markets. Rule 15Ga-1 had a one-time reporting requirement that expired on February 14, 2012. We estimate that approximately 1,343 securitizers will file Form ABS-15G annually at estimated (19.307 hours) burden hours per response. In addition, we estimate that 75% of the 19.307 hours per response (14.48 hours) is carried internally by the securitizers for a total annual reporting burden of 19,447 hours (14.48 hours per response x 1,343 responses). 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. The public may view the background documentation for this information collection at the following website, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and [[Page 28285]] Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: [email protected]; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of this notice. Dated: June 3, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-12984 Filed 6-15-18; 8:45 am] BILLING CODE 8011-01-P
![28284 Federal Register / Vol. 83, No. 117 / Monday, June 18, 2018 / Notices
deem fee levels at a particular venue to change is consistent with the Act. SECURITIES AND EXCHANGE
be excessive or rebate opportunities Comments may be submitted by any of COMMISSION
available at other venues to be more the following methods:
favorable. In such an environment, the Submission for OMB Review;
Electronic Comments Comment Request
Exchange must continually adjust its
fees and rebates to remain competitive • Use the Commission’s internet Upon Written Request Copies Available
with other exchanges and with comment form (http://www.sec.gov/ From: Securities and Exchange
alternative trading systems that have rules/sro.shtml); or Commission, Office of FOIA Services,
been exempted from compliance with • Send an email to rule-comments@ 100 F Street NE, Washington, DC
the statutory standards applicable to sec.gov. Please include File Number SR– 20549–2736
exchanges. Because competitors are free NYSEArca–2018–41 on the subject line.
to modify their own fees and credits in Extension:
Paper Comments Rule 15Ga–2 and Form ABS–15G, SEC File
response, and because market No. 270–620, OMB Control No. 3235–
participants may readily adjust their • Send paper comments in triplicate 0675
order routing practices, the Exchange to Brent J. Fields, Secretary, Securities
believes that the degree to which fee Notice is hereby given that, pursuant
and Exchange Commission, 100 F Street to the Paperwork Reduction Act of 1995
changes in this market may impose any NE, Washington, DC 20549–1090.
burden on competition is extremely (44 U.S.C. 3501 et seq.), the Securities
limited. As a result of all of these All submissions should refer to File and Exchange Commission
Number SR–NYSEArca–2018–41. This (‘‘Commission’’) has submitted to the
considerations, the Exchange does not
file number should be included on the Office of Management and Budget this
believe that the proposed changes will
subject line if email is used. To help the request for extension of the previously
impair the ability of ETP Holders or
Commission process and review your approved collection of information
competing order execution venues to
comments more efficiently, please use discussed below.
maintain their competitive standing in Rule 15Ga–2 and Form ABS–15G (17
the financial markets. only one method. The Commission will
post all comments on the Commission’s CFR 249.1400) is used for reports of
C. Self-Regulatory Organization’s internet website (http://www.sec.gov/ information required under Rule 15Ga–
Statement on Comments on the rules/sro.shtml). Copies of the 1 and Rule 15Ga–2 (17 CFR 240.15Ga–
Proposed Rule Change Received From submission, all subsequent 1) (17 CFR 240.15Ga–2) of the Exchange
Members, Participants, or Others amendments, all written statements Act of 1934 (‘‘Exchange Act’’). Exchange
with respect to the proposed rule Act Rule 15Ga–1 requires asset-backed
No written comments were solicited
change that are filed with the securitizers to provide disclosure
or received with respect to the proposed
Commission, and all written regarding fulfilled an unfulfilled
rule change.
communications relating to the repurchase requests with respect to
III. Date of Effectiveness of the proposed rule change between the asset-backed securities. The purpose of
Proposed Rule Change and Timing for Commission and any person, other than the information collected on Form ABS–
Commission Action those that may be withheld from the 15G is to implement the disclosure
The foregoing rule change is effective public in accordance with the requirements of Section 943 of the
upon filing pursuant to Section provisions of 5 U.S.C. 552, will be Dodd-Frank Wall Street Reform and
19(b)(3)(A) 8 of the Act and available for website viewing and Consumer Protection Act to provide
subparagraph (f)(2) of Rule 19b–4 9 printing in the Commission’s Public information regarding the use of
thereunder, because it establishes a due, Reference Room, 100 F Street NE, representations and warranties in the
fee, or other charge imposed by the Washington, DC 20549 on official asset-backed securities markets. Rule
Exchange. business days between the hours of 15Ga–1 had a one-time reporting
At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of such requirement that expired on February
filing of such proposed rule change, the filing also will be available for 14, 2012. We estimate that
Commission summarily may inspection and copying at the principal approximately 1,343 securitizers will
temporarily suspend such rule change if office of the Exchange. All comments file Form ABS–15G annually at
it appears to the Commission that such received will be posted without change. estimated (19.307 hours) burden hours
action is necessary or appropriate in the Persons submitting comments are per response. In addition, we estimate
public interest, for the protection of cautioned that we do not redact or edit that 75% of the 19.307 hours per
investors, or otherwise in furtherance of personal identifying information from response (14.48 hours) is carried
the purposes of the Act. If the comment submissions. You should internally by the securitizers for a total
Commission takes such action, the submit only information that you wish annual reporting burden of 19,447 hours
Commission shall institute proceedings to make available publicly. All (14.48 hours per response × 1,343
under Section 19(b)(2)(B) 10 of the Act to submissions should refer to File responses).
determine whether the proposed rule Number SR–NYSEArca–2018–41, and An agency may not conduct or
change should be approved or should be submitted on or before July 9, sponsor, and a person is not required to
disapproved. 2018 respond to, a collection of information
unless it displays a currently valid
IV. Solicitation of Comments For the Commission, by the Division of control number.
Trading and Markets, pursuant to delegated The public may view the background
Interested persons are invited to
amozie on DSK3GDR082PROD with NOTICES1
authority.11
submit written data, views, and documentation for this information
Eduardo A. Aleman, collection at the following website,
arguments concerning the foregoing,
Assistant Secretary. www.reginfo.gov. Comments should be
including whether the proposed rule
[FR Doc. 2018–12934 Filed 6–15–18; 8:45 am] directed to: (i) Desk Officer for the
8 15 U.S.C. 78s(b)(3)(A). BILLING CODE 8011–01–P Securities and Exchange Commission,
9 17 CFR 240.19b–4(f)(2). Office of Information and Regulatory
10 15 U.S.C. 78s(b)(2)(B). 11 17 CFR 200.30–3(a)(12). Affairs, Office of Management and
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![Federal Register / Vol. 83, No. 117 / Monday, June 18, 2018 / Notices 28285
Budget, Room 10102, New Executive the proposed rule change and discussed executed by the Member 5 on MIAX
Office Building, Washington, DC 20503, any comments it received on the PEARL in the relevant, respective origin
or by sending an email to: Shagufta_ proposed rule change. The text of these type (not including Excluded
Ahmed@omb.eop.gov; and (ii) Pamela statements may be examined at the Contracts) 6 expressed as a percentage of
Dyson, Director/Chief Information places specified in Item IV below. The TCV.7 In addition, the per contract
Officer, Securities and Exchange Exchange has prepared summaries, set transaction rebates and fees are applied
Commission, c/o Candace Kenner, 100 F forth in sections A, B, and C below, of retroactively to all eligible volume for
Street NE, Washington, DC 20549 or the most significant aspects of such that origin type once the respective
send an email to: PRA_Mailbox@ statements. threshold tier (‘‘Tier’’) has been reached
sec.gov. Comments must be submitted to
A. Self-Regulatory Organization’s by the Member. The Exchange
OMB within 30 days of this notice.
Statement of the Purpose of, and aggregates the volume of Members and
Dated: June 3, 2018. Statutory Basis for, the Proposed Rule their Affiliates.8 Members that place
Eduardo A. Aleman, Change resting liquidity, i.e., orders resting on
Assistant Secretary.
[FR Doc. 2018–12984 Filed 6–15–18; 8:45 am]
1. Purpose
BILLING CODE 8011–01–P The Exchange proposes to amend the 5 ‘‘Member’’ means an individual or organization
Add/Remove Tiered Rebates/Fees set that is registered with the Exchange pursuant to
Chapter II of the Exchange Rules for purposes of
forth in Section 1(a) of the Fee Schedule trading on the Exchange as an ‘‘Electronic Exchange
SECURITIES AND EXCHANGE to (i) modify the volume thresholds Member’’ or ‘‘Market Maker.’’ Members are deemed
COMMISSION applicable to transactions for (A) ‘‘members’’ under the Exchange Act. See the
[Release No. 34–83419; File No. SR– Priority Customers,3 (B) MIAX PEARL Definitions Section of the Fee Schedule and
Exchange Rule 100.
PEARL–2018–13] Market Makers,4 and (C) Non-Priority 6 ‘‘Excluded Contracts’’ means any contracts
Customers, Firms, Broker-Dealers and routed to an away market for execution. See the
Self-Regulatory Organizations; MIAX Non-MIAX PEARL Market Makers Definitions Section of the Fee Schedule.
PEARL, LLC; Notice of Filing and (collectively herein ‘‘Professional 7 ‘‘TCV’’ means total consolidated volume
Immediate Effectiveness of a Proposed Members’’); (ii) add a new Tier 6 and calculated as the total national volume in those
Rule Change To Amend the MIAX corresponding rebates and fees classes listed on MIAX PEARL for the month for
PEARL Fee Schedule which the fees apply, excluding consolidated
applicable to transactions for Priority volume executed during the period time in which
June 12, 2018. Customers and Professional Members; the Exchange experiences an ‘‘Exchange System
(iii) decrease Maker (as defined below) Disruption’’ (solely in the option classes of the
Pursuant to the provisions of Section affected Matching Engine (as defined below)). The
19(b)(1) of the Securities Exchange Act rebates in certain Tiers (as defined term Exchange System Disruption, which is defined
of 1934 (‘‘Act’’),1 and Rule 19b–4 below) for options transactions in Penny in the Definitions section of the Fee Schedule,
thereunder,2 notice is hereby given that classes (as defined below) and Non- means an outage of a Matching Engine or collective
Penny classes (as defined below) for Matching Engines for a period of two consecutive
on May 31, 2018, MIAX PEARL, LLC hours or more, during trading hours. The term
(‘‘MIAX PEARL’’ or ‘‘Exchange’’) filed Priority Customers and Professional Matching Engine, which is also defined in the
with the Securities and Exchange Members; (iv) increase Taker (as defined Definitions section of the Fee Schedule, is a part of
Commission (‘‘Commission’’) a below) fees in all Tiers for options the MIAX PEARL electronic system that processes
transactions in Penny Classes for options orders and trades on a symbol-by-symbol
proposed rule change as described in basis. Some Matching Engines will process option
Items I, II, and III below, which Items Priority Customers, and increase the classes with multiple root symbols, and other
have been prepared by the Exchange. Taker fees in Tier 2 applicable to Matching Engines may be dedicated to one single
The Commission is publishing this options transactions in Penny and Non- option root symbol (for example, options on SPY
Penny classes for Professional Members; may be processed by one single Matching Engine
notice to solicit comments on the that is dedicated only to SPY). A particular root
proposed rule change from interested (v) provide alternative Maker rebates for symbol may only be assigned to a single designated
persons. options transactions in all classes for Matching Engine. A particular root symbol may not
Professional Members, provided that the be assigned to multiple Matching Engines. The
I. Self-Regulatory Organization’s Member meets certain volume criteria; Exchange believes that it is reasonable and
Statement of the Terms of Substance of and (vi) create new tiered fee structures appropriate to select two consecutive hours as the
the Proposed Rule Change amount of time necessary to constitute an Exchange
for Taker fees in the symbols SPY, QQQ, System Disruption, as two hours equates to
The Exchange is filing a proposal to IWM and VXX for Priority Customers. approximately 1.4% of available trading time per
amend the MIAX PEARL Fee Schedule The Exchange also proposes to make month. The Exchange notes that the term
(the ‘‘Fee Schedule’’). ‘‘Exchange System Disruption’’ and its meaning
certain non-substantive, technical have no applicability outside of the Fee Schedule,
The text of the proposed rule change corrections to the Fee Schedule, as as it is used solely for purposes of calculating
is available on the Exchange’s website at described below. volume for the threshold tiers in the Fee Schedule.
http://www.miaxoptions.com/rule- The Exchange currently assesses
See the Definitions Section of the Fee Schedule.
8 ‘‘Affiliate’’ means (i) an affiliate of a Member of
filings/pearl at MIAX PEARL’s principal transaction rebates and fees to all at least 75% common ownership between the firms
office, and at the Commission’s Public market participants which are based as reflected on each firm’s Form BD, Schedule A,
Reference Room. upon the total monthly volume or (ii) the Appointed Market Maker of an Appointed
EEM (or, conversely, the Appointed EEM of an
II. Self-Regulatory Organization’s Appointed Market Maker). An ‘‘Appointed Market
Statement of the Purpose of, and 3 ‘‘Priority Customer’’ means a person or entity
Maker’’ is a MIAX PEARL Market Maker (who does
Statutory Basis for, the Proposed Rule that (i) is not a broker or dealer in securities, and not otherwise have a corporate affiliation based
amozie on DSK3GDR082PROD with NOTICES1
Change (ii) does not place more than 390 orders in listed upon common ownership with an EEM) that has
options per day on average during a calendar month been appointed by an EEM and an ‘‘Appointed
In its filing with the Commission, the for its own beneficial account(s). See Exchange Rule EEM’’ is an EEM (who does not otherwise have a
Exchange included statements 100, including Interpretations and Policies .01. corporate affiliation based upon common
4 ‘‘Market Maker’’ means a Member registered ownership with a MIAX PEARL Market Maker) that
concerning the purpose of and basis for with the Exchange for the purpose of making has been appointed by a MIAX PEARL Market
markets in options contracts traded on the Maker, pursuant to the process described in the Fee
1 15 U.S.C. 78s(b)(1). Exchange. See the Definitions Section of the Fee Schedule. See the Definitions Section of the Fee
2 17 CFR 240.19b–4. Schedule and Exchange Rule 100. Schedule.
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Document Created: 2018-06-18 15:50:16
Document Modified: 2018-06-18 15:50:16
| 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 28284 |
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