83_FR_39637 83 FR 39483 - Submission for OMB Review; Comment Request

83 FR 39483 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 154 (August 9, 2018)

Page Range39483-39484
FR Document2018-16999

Federal Register, Volume 83 Issue 154 (Thursday, August 9, 2018) 
[Federal Register Volume 83, Number 154 (Thursday, August 9, 2018)]
[Notices]
[Pages 39483-39484]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-16999]


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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:
    Form ADV-E, SEC File No. 270-318, OMB Control No. 3235-0361

    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 (the

[[Page 39484]]

``Commission'') has submitted to the Office of Management and Budget a 
request for extension of the previously approved collection of 
information discussed below.
    Form ADV-E (17 CFR 279.8) is the cover sheet for certificates of 
accounting filed pursuant to rule 206(4)-2 under the Investment 
Advisers Act of 1940 (17 CFR 275.206(4)-2). The rule further requires 
that the public accountant file with the Commission a Form ADV-E and 
accompanying statement within four business days of the resignation, 
dismissal, removal or other termination of its engagement.
    The Commission has estimated that compliance with the requirement 
to complete Form ADV-E imposes a total burden of approximately 0.05 
hours (3 minutes) per respondent. Based on current information from 
advisers registered with the Commission, the Commission staff estimates 
that 1,749 filings will be submitted with respect to surprise 
examinations and 38 filings will be submitted with respect to 
termination of accountants. Based on these estimates, the total 
estimated annual burden would be 89.35 hours ((1,749 filings x .05 
hours) + (38 filings x .05 hours)).
    The information provided on Form ADV-E is mandatory. Responses will 
not be kept confidential. An agency may not conduct or sponsor a 
collection of information unless it displays a currently valid OMB 
control number. No person shall be subject to any penalty for failing 
to comply with a collection of information subject to the PRA that does 
not display a valid OMB 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 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: August 3, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-16999 Filed 8-8-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 154 / Thursday, August 9, 2018 / Notices 39483 align with the cost of delivering the respect to variable products would number should be included on the proposed subaccount data feature, and provide asset managers a better subject line if email is used. To help the such fees would be allocated equitably understanding of client requirements Commission process and review your among the entities that subscribe for and allow asset managers to adjust their comments more efficiently, please use access to the subaccount data. products so that they are better suited only one method. The Commission will Specifically, the costs to NSCC for for clients of variable annuities and post all comments on the Commission’s providing the feature would include variable life insurance contracts. NSCC internet website (http://www.sec.gov/ building the capability to separate the believes this would enhance rules/sro.shtml). Copies of the subaccount data from the FAR files sent competition among asset managers by submission, all subsequent by insurance carriers, segregating such enabling each to more quickly provide amendments, all written statements data by asset manager, drafting and competing products meeting client with respect to the proposed rule negotiating agreements with asset requirements. change that are filed with the managers relating to receiving the data Commission, and all written and drafting and negotiating agreements (C) Clearing Agency’s Statement on communications relating to the with service providers who are Comments on the Proposed Rule proposed rule change between the receiving and distributing subaccount Change Received From Members, Commission and any person, other than data on behalf of asset managers. NSCC Participants, or Others those that may be withheld from the believes that the costs for adding and NSCC has not received or solicited public in accordance with the operating the feature on behalf of asset any written comments relating to this provisions of 5 U.S.C. 552, will be managers would be approximately equal proposal. NSCC will notify the available for website viewing and to the fees anticipated to be received by Commission of any written comments printing in the Commission’s Public NSCC from the asset managers for use received by NSCC. Reference Room, 100 F Street NE, of this feature. In addition, such fees Washington, DC 20549 on official would be charged only to those asset III. Date of Effectiveness of the Proposed Rule Change, and Timing for business days between the hours of managers that choose to subscribe to the 10:00 a.m. and 3:00 p.m. Copies of the feature. Therefore, by establishing fees Commission Action filing also will be available for that align with the cost of delivery of The foregoing rule change has become inspection and copying at the principal this feature and allocating those fees effective pursuant to Section office of NSCC and on DTCC’s website equitably among the subscribing asset 19(b)(3)(A) 12 of the Act and (http://dtcc.com/legal/sec-rule- managers, the proposed rule change subparagraphs (f)(2) 13 and (f)(4) 14 of filings.aspx). All comments received would provide for the equitable Rule 19b–4 thereunder. At any time will be posted without change; the allocation of reasonable dues, fees and within 60 days of the filing of the Commission does not edit personal other charges among its participants proposed rule change, the Commission identifying information from consistent with the requirements of summarily may temporarily suspend submissions. You should submit only Section 17A(b)(3)(D) of the Act.11 such rule change if it appears to the information that you wish to make (B) Clearing Agency’s Statement on Commission that such action is available publicly. All submissions Burden on Competition necessary or appropriate in the public should refer to File Number SR–NSCC– interest, for the protection of investors, 2018–005 and should be submitted on NSCC does not believe that the or otherwise in furtherance of the proposed rule change would have any or before August 30, 2018. purposes of the Act. adverse impact, or impose any burden, For the Commission, by the Division of on competition because the proposed IV. Solicitation of Comments Trading and Markets, pursuant to delegated rule change would add an optional authority.15 Interested persons are invited to feature to NSCC’s services that would submit written data, views and Eduardo A. Aleman, provide access by asset managers to arguments concerning the foregoing, Assistant Secretary. transaction-specific subaccount data including whether the proposed rule [FR Doc. 2018–17007 Filed 8–8–18; 8:45 am] that is included within the FAR files. As change is consistent with the Act. BILLING CODE 8011–01–P an optional feature available for Comments may be submitted by any of subscription, the proposed rule change the following methods: would not disproportionally impact any SECURITIES AND EXCHANGE NSCC participants. Electronic Comments COMMISSION Moreover, because the proposed rule • Use the Commission’s internet change would allow asset managers to comment form (http://www.sec.gov/ Submission for OMB Review; receive transaction-specific subaccount rules/sro.shtml); or Comment Request data and use that information to better • Send an email to rule-comments@ Upon Written Request, Copies Available service the funds and assets within sec.gov. Please include File Number SR– From: Securities and Exchange variable products, NSCC believes the NSCC–2018–005 on the subject line. Commission, Office of FOIA Services, proposed rule change would have a Paper Comments 100 F Street NE, Washington, DC positive effect on competition among 20549–2736 asset managers. The proposed feature • Send paper comments in triplicate would provide these firms with a to Secretary, Securities and Exchange Extension: Form ADV–E, SEC File No. 270–318, OMB sradovich on DSK3GMQ082PROD with NOTICES method of receiving transaction-specific Commission, 100 F Street NE, Control No. 3235–0361 subaccount data similar to the Washington, DC 20549. information that such asset managers All submissions should refer to File Notice is hereby given that, pursuant currently receive with respect to retail Number SR–NSCC–2018–005. This file to the Paperwork Reduction Act of 1995 mutual funds. Receiving transaction- (44 U.S.C. 3501 et seq.), the Securities specific subaccount information with 12 15 U.S.C 78s(b)(3)(A). and Exchange Commission (the 13 17 CFR 240.19b–4(f)(2). 11 Id. 14 17 CFR 240.19b–4(f)(4). 15 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:11 Aug 08, 2018 Jkt 244001 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 E:\FR\FM\09AUN1.SGM 09AUN1

39484 Federal Register / Vol. 83, No. 154 / Thursday, August 9, 2018 / Notices ‘‘Commission’’) has submitted to the SECURITIES AND EXCHANGE define these terms at Chapter I, Section Office of Management and Budget a COMMISSION 1 to bring greater transparency to BX request for extension of the previously rules. In addition, the Exchange notes [Release No. 34–83770; File No. SR–BX– approved collection of information 2018–035] that the terms, ‘‘in-the-money’’ and discussed below. ‘‘out-of-the-money’’ are generally Form ADV–E (17 CFR 279.8) is the Self-Regulatory Organizations; Nasdaq accepted terms in the options industry. cover sheet for certificates of accounting BX, Inc.; Notice of Filing and These terms are utilized throughout the filed pursuant to rule 206(4)–2 under Immediate Effectiveness of Proposed options industry. The Exchange desires the Investment Advisers Act of 1940 (17 Rule Change To Amend BX Options for its Participants to have a clear CFR 275.206(4)–2). The rule further Rules at Chapter I, Section 1 To Define understanding of how BXs System requires that the public accountant file Certain Terms defines these terms. with the Commission a Form ADV–E The Exchange proposes to define an August 3, 2018. ‘‘in-of-the-money’’ option at Chapter I, and accompanying statement within four business days of the resignation, Pursuant to Section 19(b)(1) of the Section 1(a)(68). The Exchange proposes dismissal, removal or other termination Securities Exchange Act of 1934 that the term ‘‘in-the-money’’ shall of its engagement. (‘‘Act’’),1 and Rule 19b–4 thereunder,2 mean the following: For call options, all notice is hereby given that on July 23, strike prices below the offer in the The Commission has estimated that 2018, Nasdaq BX, Inc. (‘‘BX’’ or underlying security on the primary compliance with the requirement to ‘‘Exchange’’) filed with the Securities listing market; for put options, all strike complete Form ADV–E imposes a total and Exchange Commission (‘‘SEC’’ or prices above the bid in the underlying burden of approximately 0.05 hours (3 ‘‘Commission’’) the proposed rule security on the primary listing market. minutes) per respondent. Based on change as described in Items I and II The Exchange proposes to define an current information from advisers below, which Items have been prepared ‘‘out-of-the-money’’ option at Chapter I, registered with the Commission, the by the Exchange. The Commission is Section 1(a)(69). The Exchange proposes Commission staff estimates that 1,749 publishing this notice to solicit that the term ‘‘out-of-the-money’’ shall filings will be submitted with respect to comments on the proposed rule change mean the following: For call options, all surprise examinations and 38 filings from interested persons. strike prices above the offer in the will be submitted with respect to I. Self-Regulatory Organization’s underlying security on the primary termination of accountants. Based on Statement of the Terms of Substance of listing market; for put options, all strike these estimates, the total estimated the Proposed Rule Change prices below the bid in the underlying annual burden would be 89.35 hours security on the primary listing market. ((1,749 filings × .05 hours) + (38 filings The Exchange proposes to amend BX × .05 hours)). Options Rules at Chapter I, Section 1 to 2. Statutory Basis The information provided on Form define certain terms. The Exchange believes that its ADV–E is mandatory. Responses will The text of the proposed rule change proposal is consistent with Section 6(b) not be kept confidential. An agency may is available on the Exchange’s website at of the Act,3 in general, and furthers the not conduct or sponsor a collection of http://nasdaqbx.cchwallstreet.com/, at objectives of Section 6(b)(5) of the Act,4 information unless it displays a the principal office of the Exchange, and in particular, in that it is designed to currently valid OMB control number. at the Commission’s Public Reference promote just and equitable principles of No person shall be subject to any Room. trade, to remove impediments to and penalty for failing to comply with a II. Self-Regulatory Organization’s perfect the mechanism of a free and collection of information subject to the Statement of the Purpose of, and open market and a national market PRA that does not display a valid OMB Statutory Basis for, the Proposed Rule system, and, in general to protect control number. Change investors and the public interest. The The public may view the background Exchange’s proposal to define the terms documentation for this information In its filing with the Commission, the ‘‘in-the-money’’ and ‘‘out-of-the-money’’ collection at the following website, Exchange included statements options is consistent with the Act and www.reginfo.gov. Comments should be concerning the purpose of and basis for protects investors and the public directed to: (i) Desk Officer for the the proposed rule change and discussed interest by bringing greater transparency Securities and Exchange Commission, any comments it received on the to the Rulebook. In addition, the Office of Information and Regulatory proposed rule change. The text of these Exchange notes that the terms, ‘‘in-the- Affairs, Office of Management and statements may be examined at the money’’ and ‘‘out-of-the-money’’ are Budget, Room 10102, New Executive places specified in Item IV below. The generally accepted terms in the options Office Building, Washington, DC 20503, Exchange has prepared summaries, set industry. These terms are utilized or by sending an email to: Shagufta_ forth in sections A, B, and C below, of throughout the options industry. The Ahmed@omb.eop.gov; and (ii) Pamela the most significant aspects of such Exchange desires for its Participants to Dyson, Director/Chief Information statements. have a clear understanding of how BX’s Officer, Securities and Exchange A. Self-Regulatory Organization’s System defines these terms. Commission, c/o Candace Kenner, 100 F Statement of the Purpose of, and B. Self-Regulatory Organization’s Street NE, Washington, DC 20549 or Statutory Basis for, the Proposed Rule Statement on Burden on Competition send an email to: PRA_Mailbox@ Change sradovich on DSK3GMQ082PROD with NOTICES sec.gov. Comments must be submitted to The Exchange does not believe that 1. Purpose the proposed rule change will impose OMB within 30 days of this notice. BX rules currently do not define an any burden on competition not Dated: August 3, 2018. ‘‘in-the-money’’ or ‘‘out-of-the-money’’ necessary or appropriate in furtherance Eduardo A. Aleman, option. The Exchange proposes to of the purposes of the Act. The Assistant Secretary. [FR Doc. 2018–16999 Filed 8–8–18; 8:45 am] 1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78f(b). BILLING CODE 8011–01–P 2 17 CFR 240.19b–4. 4 15 U.S.C. 78f(b)(5). VerDate Sep<11>2014 18:11 Aug 08, 2018 Jkt 244001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\09AUN1.SGM 09AUN1


Document Created: 2018-08-09 01:11:03
Document Modified: 2018-08-09 01:11:03
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation83 FR 39483 
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