83 FR 34279 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 139 (July 19, 2018)
Federal Register Volume 83, Issue 139 (July 19, 2018)
| Page Range | 34279-34280 | |
| FR Document | 2018-15377 |
[Federal Register Volume 83, Number 139 (Thursday, July 19, 2018)] [Notices] [Pages 34279-34280] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-15377] ----------------------------------------------------------------------- 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 12d2-1, SEC File No. 270-098, OMB Control No. 3235-0081 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'') has submitted to the Office of Management and Budget (``OMB'') a request for approval of extension of the previously approved collection of information provided for in Rule 12d2-1 (17 CFR 240.12d2-1), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Act''). On February 12, 1935, the Commission adopted Rule 12d2-1 \1\ (``Suspension of Trading'') which sets forth the conditions and procedures under which a security may be suspended from trading under Section 12(d) of the Act.\2\ Rule 12d2-1 provides the procedures by which a national securities exchange may suspend from trading a security that is listed and registered on the exchange. Under Rule 12d2-1, an exchange is permitted to suspend from trading a listed security in accordance with its rules, and must promptly notify the Commission of any such suspension, along with the effective date and the reasons for the suspension. --------------------------------------------------------------------------- \1\ See Securities Exchange Act Release No. 98 (February 12, 1935). \2\ See Securities Exchange Act Release No. 7011 (February 5, 1963), 28 FR 1506 (February 16, 1963). --------------------------------------------------------------------------- Any such suspension may be continued until such time as the Commission may determine that the suspension is designed to evade the provisions of Section 12(d) of the Act and Rule 12d2-2 thereunder.\3\ During the continuance of such suspension under Rule 12d2-1, the exchange is required to notify the Commission promptly of any change in the reasons for the suspension. Upon the restoration to trading of any security suspended under Rule 12d2-1, the exchange must notify the Commission promptly of the effective date of such restoration. --------------------------------------------------------------------------- \3\ Rule 12d2-2 prescribes the circumstances under which a security may be delisted from an exchange and withdrawn from registration under Section 12(b) of the Act, and provides the procedures for taking such action. --------------------------------------------------------------------------- The trading suspension notices serve a number of purposes. First, they inform the Commission that an exchange has suspended from trading a listed security or reintroduced trading in a previously suspended security. They also provide the Commission with information necessary for it to determine that the suspension has been accomplished in accordance with the rules of the exchange, and to verify that the exchange has not evaded the requirements of Section 12(d) of the Act and Rule 12d2-2 thereunder by improperly employing a trading suspension. Without Rule 12d2-1, the Commission would be unable to fully implement these statutory responsibilities. There are 21 national securities exchanges \4\ that are subject to Rule 12d2-1. The burden of complying with Rule 12d2-1 is not evenly distributed among the exchanges, however, since there are many more securities listed on the New York Stock Exchange, Inc., the NASDAQ Stock Exchange, and the NYSE American LLC than on the other exchanges.\5\ There are approximately 964 responses \6\ under Rule 12d2-1 for the purpose of suspension of trading from the national securities exchanges each year, and the resultant aggregate annual reporting hour burden would be, assuming on average one-half reporting hour per response, 482 annual burden hours for all exchanges. The related internal compliance costs associated with these burden hours are $103,871 per year. --------------------------------------------------------------------------- \4\ The Exchanges are BOX Options Exchange LLC, Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., Chicago Stock Exchange, Inc., Investors Exchange LLC, Miami International Securities Exchange, MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX LLC, The Nasdaq Stock Market, New York Stock Exchange LLC, NYSE Arca, Inc., NYSE American LLC, NYSE National, Inc. \5\ In fact, some exchanges do not file any trading suspension reports in a given year. \6\ The 964 figure was calculated by averaging the numbers for compliance in 2016 and 2017, which are 1,002 and 925, respectively. --------------------------------------------------------------------------- The collection of information obligations imposed by Rule 12d2-1 is mandatory. The response will be available to the public and will not be kept confidential. 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. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the [[Page 34280]] Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: July 13, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-15377 Filed 7-18-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 34279
Electronic Comments SECURITIES AND EXCHANGE The trading suspension notices serve
COMMISSION a number of purposes. First, they inform
• Use the Commission’s internet the Commission that an exchange has
comment form (http://www.sec.gov/ Submission for OMB Review; suspended from trading a listed security
rules/sro.shtml); or Comment Request or reintroduced trading in a previously
• Send an email to rule-comments@ suspended security. They also provide
Upon Written Request, Copies Available the Commission with information
sec.gov. Please include File Number SR–
From: Securities and Exchange necessary for it to determine that the
IEX–2018–15 on the subject line. Commission, Office of FOIA Services, suspension has been accomplished in
Paper Comments 100 F Street NE, Washington, DC accordance with the rules of the
20549–2736 exchange, and to verify that the
• Send paper comments in triplicate Extension: exchange has not evaded the
to Secretary, Securities and Exchange Rule 12d2–1, SEC File No. 270–098, OMB requirements of Section 12(d) of the Act
Commission, 100 F Street NE, Control No. 3235–0081 and Rule 12d2–2 thereunder by
Washington, DC 20549–1090. improperly employing a trading
Notice is hereby given that pursuant
All submissions should refer to File to the Paperwork Reduction Act of 1995 suspension. Without Rule 12d2–1, the
Number SR–IEX–2018–15. This file (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Commission would be unable to fully
number should be included on the Securities and Exchange Commission implement these statutory
subject line if email is used. To help the (‘‘Commission’’) has submitted to the responsibilities.
There are 21 national securities
Commission process and review your Office of Management and Budget
exchanges 4 that are subject to Rule
comments more efficiently, please use (‘‘OMB’’) a request for approval of
12d2–1. The burden of complying with
only one method. The Commission will extension of the previously approved
Rule 12d2–1 is not evenly distributed
post all comments on the Commission’s collection of information provided for in among the exchanges, however, since
internet website (http://www.sec.gov/ Rule 12d2–1 (17 CFR 240.12d2–1), there are many more securities listed on
rules/sro.shtml). Copies of the under the Securities Exchange Act of the New York Stock Exchange, Inc., the
submission, all subsequent 1934 (15 U.S.C. 78a et seq.) (‘‘Act’’). NASDAQ Stock Exchange, and the
amendments, all written statements On February 12, 1935, the NYSE American LLC than on the other
with respect to the proposed rule Commission adopted Rule 12d2–1 1 exchanges.5 There are approximately
change that are filed with the (‘‘Suspension of Trading’’) which sets 964 responses 6 under Rule 12d2–1 for
Commission, and all written forth the conditions and procedures the purpose of suspension of trading
communications relating to the under which a security may be from the national securities exchanges
proposed rule change between the suspended from trading under Section each year, and the resultant aggregate
Commission and any person, other than 12(d) of the Act.2 Rule 12d2–1 provides annual reporting hour burden would be,
the procedures by which a national assuming on average one-half reporting
those that may be withheld from the
securities exchange may suspend from hour per response, 482 annual burden
public in accordance with the
trading a security that is listed and hours for all exchanges. The related
provisions of 5 U.S.C. 552, will be registered on the exchange. Under Rule
available for website viewing and internal compliance costs associated
12d2–1, an exchange is permitted to with these burden hours are $103,871
printing in the Commission’s Public suspend from trading a listed security in per year.
Reference Room, 100 F Street NE, accordance with its rules, and must The collection of information
Washington, DC 20549, on official promptly notify the Commission of any obligations imposed by Rule 12d2–1 is
business days between the hours of such suspension, along with the mandatory. The response will be
10:00 a.m. and 3:00 p.m. Copies of this effective date and the reasons for the available to the public and will not be
filing will also be available for suspension. kept confidential.
inspection and copying at the principal Any such suspension may be An agency may not conduct or
office of the Exchange. All comments continued until such time as the sponsor, and a person is not required to
received will be posted without change. Commission may determine that the respond to, a collection of information
Persons submitting comments are suspension is designed to evade the under the PRA unless it displays a
cautioned that we do not redact or edit provisions of Section 12(d) of the Act currently valid OMB control number.
personal identifying information from and Rule 12d2–2 thereunder.3 During The public may view background
comment submissions. You should the continuance of such suspension documentation for this information
submit only information that you wish under Rule 12d2–1, the exchange is collection at the following website:
to make available publicly. All required to notify the Commission www.reginfo.gov. Comments should be
promptly of any change in the reasons directed to: (i) Desk Officer for the
submissions should refer to File
Number SR–IEX–2018–15 and should for the suspension. Upon the restoration 4 The Exchanges are BOX Options Exchange LLC,
be submitted on or before August 9, to trading of any security suspended Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc.,
2018. under Rule 12d2–1, the exchange must Cboe C2 Exchange, Inc., Cboe EDGA Exchange, Inc.,
notify the Commission promptly of the Cboe EDGX Exchange, Inc., Cboe Exchange, Inc.,
For the Commission, by the Division of effective date of such restoration. Chicago Stock Exchange, Inc., Investors Exchange
Trading and Markets, pursuant to delegated LLC, Miami International Securities Exchange,
authority.17 MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq
sradovich on DSK3GMQ082PROD with NOTICES
1 See Securities Exchange Act Release No. 98
GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC,
Eduardo A. Aleman, (February 12, 1935). Nasdaq PHLX LLC, The Nasdaq Stock Market, New
Assistant Secretary. 2 See Securities Exchange Act Release No. 7011 York Stock Exchange LLC, NYSE Arca, Inc., NYSE
(February 5, 1963), 28 FR 1506 (February 16, 1963). American LLC, NYSE National, Inc.
[FR Doc. 2018–15369 Filed 7–18–18; 8:45 am] 3 Rule 12d2–2 prescribes the circumstances under 5 In fact, some exchanges do not file any trading
BILLING CODE 8011–01–P which a security may be delisted from an exchange suspension reports in a given year.
and withdrawn from registration under Section 6 The 964 figure was calculated by averaging the
12(b) of the Act, and provides the procedures for numbers for compliance in 2016 and 2017, which
17 17 CFR 200.30–3(a)(12). taking such action. are 1,002 and 925, respectively.
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![34280 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices
Securities and Exchange Commission, Rule 17Ad–7 under the Exchange Act SECURITIES AND EXCHANGE
Office of Information and Regulatory requires each registered transfer agent to COMMISSION
Affairs, Office of Management and retain the records specified in Rule
Budget, Room 10102, New Executive 17Ad–6 in an easily accessible place for Proposed Collection; Comment
Office Building, Washington, DC 20503, a period of six months to six years, Request
or by sending an email to: Shagufta_ depending on the type of record or Upon Written Request, Copies Available
Ahmed@omb.eop.gov; and (ii) Pamela document. Rule 17Ad–7 also specifies From: Securities and Exchange
Dyson, Director/Chief Information the manner in which records may be Commission, Office of FOIA Services,
Officer, Securities and Exchange maintained using electronic, microfilm, 100 F Street NE, Washington, DC
Commission, c/o Candace Kenner, 100 F and microfiche storage methods. 20549–2736
Street NE, Washington, DC 20549, or by These recordkeeping requirements are
sending an email to: PRA_Mailbox@ Extension:
designed to ensure that all registered Regulation R, Rule 701, SEC File No. 270–
sec.gov. Comments must be submitted to transfer agents are maintaining the 562, OMB Control No. 3235–0624
OMB within 30 days of this notice. records necessary for transfer agents to
monitor and keep control over their own Notice is hereby given that, pursuant
Dated: July 13, 2018. to the Paperwork Reduction Act of 1995
Eduardo A. Aleman, performance and for the Commission to
adequately examine registered transfer (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Assistant Secretary. Securities and Exchange Commission
agents on an historical basis for
[FR Doc. 2018–15377 Filed 7–18–18; 8:45 am]
compliance with applicable rules. (‘‘Commission’’) is soliciting comments
BILLING CODE 8011–01–P on the existing collection of information
The Commission estimates that
provided for in Regulation R, Rule 701
approximately 382 registered transfer
(17 CFR 247.701) under the Securities
SECURITIES AND EXCHANGE agents will spend a total of 191,000
Exchange Act of 1934 (15 U.S.C. 78a et
COMMISSION hours per year complying with Rules
seq.). The Commission plans to submit
17Ad–6 and 17Ad–7 (500 hours per year
this existing collection of information to
Submission for OMB Review; per transfer agent).
the Office of Management and Budget
Comment Request The retention period under Rule (‘‘OMB’’) for extension and approval.
17Ad–7 for the recordkeeping Regulation R, Rule 701 requires a
Upon Written Request, Copies Available requirements under Rule 17Ad–6 is six broker or dealer (as part of a written
From: Securities and Exchange months to six years, depending on the agreement between the bank and the
Commission, Office of FOIA Services, particular record or document. The broker or dealer) to notify the bank if the
100 F Street NE, Washington, DC recordkeeping and retention broker or dealer makes certain
20549–2736 requirements under Rules 17Ad–6 and determinations regarding the financial
Extension: 17Ad–7 are mandatory to assist the status of the customer, a bank
Rules 17Ad–6 and 17Ad–7, SEC File No. Commission and other regulatory employee’s statutory disqualification
270–151, OMB Control No. 3235–0291 agencies with monitoring transfer agents status, and compliance with suitability
and ensuring compliance with the rules. or sophistication standards.
Notice is hereby given that pursuant These rules do not involve the
to the Paperwork Reduction Act of 1995 The Commission estimates that
collection of confidential information. brokers or dealers would, on average,
(44 U.S.C. 3501 et seq.) the Securities An agency may not conduct or
and Exchange Commission notify 1,000 banks approximately two
sponsor, and a person is not required to times annually about a determination
(‘‘Commission’’) has submitted to the respond to, a collection of information
Office of Management and Budget regarding a customer’s high net worth or
under the PRA unless it displays a institutional status or suitability or
(‘‘OMB’’) a request for approval of currently valid OMB control number.
extension of the existing collection of sophistication standing as well as a
The public may view background bank employee’s statutory
information provided for in the
documentation for this information disqualification status. Based on these
following rules: Rule 17Ad–6 (17 CFR
collection at the following website: estimates, the Commission anticipates
240.17Ad–6) and Rule 17Ad–7 (17 CFR
www.reginfo.gov. Comments should be that Regulation R, Rule 701 would result
240.17Ad–7) under the Securities
directed to: (i) Desk Officer for the in brokers or dealers making
Exchange Act of 1934 (15 U.S.C. 78a et
Securities and Exchange Commission, approximately 2,000 notifications to
seq.) (‘‘Exchange Act’’).
Office of Information and Regulatory banks per year. The Commission further
Rule 17Ad–6 under the Exchange Act Affairs, Office of Management and estimates (based on the level of
requires every registered transfer agent Budget, Room 10102, New Executive difficulty and complexity of the
to make and keep current records about Office Building, Washington, DC 20503, applicable activities) that a broker or
a variety of information, such as: (1) or by sending an email to: Shagufta_ dealer would spend approximately 15
Specific operational data regarding the Ahmed@omb.eop.gov; and (ii) Pamela minutes per notice to a bank. Therefore,
time taken to perform transfer agent Dyson, Director/Chief Information the estimated total annual third party
activities (to ensure compliance with Officer, Securities and Exchange disclosure burden for the requirements
the minimum performance standards in Commission, c/o Candace Kenner, 100 F in Regulation R, Rule 701 is 500 1 hours
Rule 17Ad–2 (17 CFR 240.17Ad–2)); (2) Street NE, Washington, DC 20549, or by for brokers or dealers.
written inquiries and requests by sending an email to: PRA_Mailbox@ Written comments are invited on: (a)
shareholders and broker-dealers and
sradovich on DSK3GMQ082PROD with NOTICES
sec.gov. Comments must be submitted to Whether the proposed collection of
response time thereto; (3) resolutions, OMB within 30 days of this notice. information is necessary for the proper
contracts, or other supporting performance of the functions of the
documents concerning the appointment Dated: July 13, 2018.
Commission, including whether the
or termination of the transfer agent; (4) Eduardo A. Aleman,
information shall have practical utility;
stop orders or notices of adverse claims Assistant Secretary.
to the securities; and (5) all canceled [FR Doc. 2018–15373 Filed 7–18–18; 8:45 am] 1 (2000 notices × 15 minutes) = 30,000 minutes/
registered securities certificates. BILLING CODE 8011–01–P 60 minutes = 500 hours.
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Document Created: 2018-07-19 01:34:48
Document Modified: 2018-07-19 01:34:48
| 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 34279 |
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