83 FR 4943 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 23 (February 2, 2018)

Page Range		4943-4944
FR Document		2018-02117

Federal Register, Volume 83 Issue 23 (Friday, February 2, 2018)

[Federal Register Volume 83, Number 23 (Friday, February 2, 2018)]
[Notices]
[Pages 4943-4944]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02117]


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SECURITIES AND EXCHANGE COMMISSION


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 11a-2, SEC File No. 270-267, OMB Control No. 3235-0272

    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 ``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 11a-2 (17 CFR 270.11a-2) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) permits certain registered insurance 
company separate accounts, subject to certain conditions, to make 
exchange offers without prior approval by the Commission of the terms 
of those offers. Rule 11a-2 requires disclosure, in certain 
registration statements filed pursuant to the Securities Act of 1933 
(15 U.S.C. 77a et seq.) of any administrative fee or sales load imposed 
in connection with an exchange offer.
    There are currently 673 registrants governed by Rule 11a-2. The 
Commission includes the estimated burden of complying with the 
information collection required by Rule 11a-2 in the total number of 
burden hours estimated for completing the relevant registration 
statements and reports the burden of Rule 11a-2 in the separate 
Paperwork Reduction Act (``PRA'') submissions for those

[[Page 4944]]

registration statements (see the separate PRA submissions for Form N-3 
(17 CFR 274.11b), Form N-4 (17 CFR 274.11c) and Form N-6 (17 CFR 
274.11d). The Commission is requesting a burden of one hour for Rule 
11a-2 for administrative purposes.
    The estimate of average burden hours is made solely for the 
purposes of the PRA, and is not derived from a comprehensive or even a 
representative survey or study of the costs of Commission rules or 
forms. With regard to Rule 11a-2, the Commission includes the estimate 
of burden hours in the total number of burden hours estimated for 
completing the relevant registration statements and reported on the 
separate PRA submissions for those statements (see the separate PRA 
submissions for Form N-3, Form N-4 and Form N-6). The information 
collection requirements imposed by Rule 11a-2 are mandatory. Responses 
to the collection of information will not be kept confidential.
    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: PRA_Mailbox@sec.gov.

    Dated: January 30, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02117 Filed 2-1-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 23 / Friday, February 2, 2018 / Notices 4943

proposed changes do not impose a At any time within 60 days of the personal identifying information from
burden on competition because, as filing of the proposed rule change, the comment submissions. You should
previously stated, they (i) are of a non- Commission summarily may submit only information that you wish
substantive nature, (ii) are intended to temporarily suspend such rule change if to make available publicly. All
harmonize the Exchange’s rules with it appears to the Commission that such submissions should refer to File
those of its Affiliated Exchanges, and action is: (i) Necessary or appropriate in Number SR–BX–2018–007 and should
(iii) are intended to organize the the public interest; (ii) for the protection be submitted on or before February 23,
Rulebook in a way that it will ease the of investors; or (iii) otherwise in 2018.
Members’ navigation and reading of the furtherance of the purposes of the Act. For the Commission, by the Division of
rules across the Affiliated Exchanges. If the Commission takes such action, the Trading and Markets, pursuant to delegated
Commission shall institute proceedings authority.15
C. Self-Regulatory Organization’s
to determine whether the proposed rule Eduardo A. Aleman,
Statement on Comments on the
should be approved or disapproved. Assistant Secretary.
Proposed Rule Change Received From
Members, Participants, or Others IV. Solicitation of Comments [FR Doc. 2018–02125 Filed 2–1–18; 8:45 am]
BILLING CODE 8011–01–P
No written comments were either Interested persons are invited to
solicited or received. submit written data, views, and
arguments concerning the foregoing,
III. Date of Effectiveness of the SECURITIES AND EXCHANGE
including whether the proposed rule
Proposed Rule Change and Timing for COMMISSION
change is consistent with the Act.
Commission Action
Comments may be submitted by any of Proposed Collection; Comment
Because the foregoing proposed rule the following methods: Request
change does not: (i) Significantly affect
the protection of investors or the public Electronic Comments Upon Written Request, Copies Available
interest; (ii) impose any significant • Use the Commission’s internet From: Securities and Exchange
burden on competition; and (iii) become comment form (http://www.sec.gov/ Commission, Office of FOIA Services,
operative for 30 days from the date on rules/sro.shtml); or 100 F Street NE, Washington, DC
which it was filed, or such shorter time • Send an email to rule-comments@ 20549–2736
as the Commission may designate, it has sec.gov. Please include File Number SR– Extension:
become effective pursuant to Section BX–2018–007 on the subject line. Rule 11a–2, SEC File No. 270–267, OMB
19(b)(3)(A)(iii) of the Act 10 and Paper Comments Control No. 3235–0272
subparagraph (f)(6) of Rule 19b–4 Notice is hereby given that, pursuant
thereunder.11 • Send paper comments in triplicate
to Secretary, Securities and Exchange to the Paperwork Reduction Act of 1995
A proposed rule change filed under (44 U.S.C. 3501 et seq.), the Securities
Rule 19b–4(f)(6) 12 normally does not Commission, 100 F Street NE,
Washington, DC 20549–1090. and Exchange Commission (the
become operative prior to 30 days after ‘‘Commission’’) is soliciting comments
the date of the filing. However, Rule All submissions should refer to File
on the collection of information
19b–4(f)(6)(iii) 13 permits the Number SR–BX–2018–007. This file
summarized below. The Commission
Commission to designate a shorter time number should be included on the
plans to submit this existing collection
if such action is consistent with the subject line if email is used. To help the of information to the Office of
protection of investors and the public Commission process and review your Management and Budget for extension
interest. The Exchange has asked the comments more efficiently, please use and approval.
Commission to waive the 30-day only one method. The Commission will Rule 11a–2 (17 CFR 270.11a–2) under
operative delay so that the Exchange can post all comments on the Commission’s the Investment Company Act of 1940
reorganize its Rulebook as already internet website (http://www.sec.gov/ (15 U.S.C. 80a–1 et seq.) permits certain
approved by the Commission. The rules/sro.shtml). Copies of the registered insurance company separate
Commission believes that waiver of the submission, all subsequent accounts, subject to certain conditions,
30-day operative delay is consistent amendments, all written statements to make exchange offers without prior
with the protection of investors and the with respect to the proposed rule approval by the Commission of the
public interest. Accordingly, the change that are filed with the terms of those offers. Rule 11a–2
Commission hereby waives the Commission, and all written requires disclosure, in certain
operative delay and designates the communications relating to the registration statements filed pursuant to
proposed rule change as operative upon proposed rule change between the the Securities Act of 1933 (15 U.S.C. 77a
filing.14 Commission and any person, other than et seq.) of any administrative fee or sales
those that may be withheld from the load imposed in connection with an
10 15 U.S.C. 78s(b)(3)(A)(iii). public in accordance with the exchange offer.
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– provisions of 5 U.S.C. 552, will be There are currently 673 registrants
4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange’s intent available for website viewing and governed by Rule 11a–2. The
to file the proposed rule change, along with a brief printing in the Commission’s Public Commission includes the estimated
description and text of the proposed rule change, Reference Room, 100 F Street NE, burden of complying with the
at least five business days prior to the date of filing Washington, DC 20549, on official
of the proposed rule change, or such shorter time
information collection required by Rule
business days between the hours of
sradovich on DSK3GMQ082PROD with NOTICES

as designated by the Commission. The Exchange 11a–2 in the total number of burden
has satisfied this requirement. 10:00 a.m. and 3:00 p.m. Copies of the hours estimated for completing the
12 17 CFR 240.19b–4(f)(6). filing also will be available for relevant registration statements and
13 17 CFR 240.19b–4(f)(6)(iii).
inspection and copying at the principal reports the burden of Rule 11a–2 in the
14 For purposes only of waiving the 30-day
office of the Exchange. All comments separate Paperwork Reduction Act
operative delay, the Commission has also
considered the proposed rule’s impact on
received will be posted without change. (‘‘PRA’’) submissions for those
efficiency, competition, and capital formation. See Persons submitting comments are
15 U.S.C. 78c(f). cautioned that we do not redact or edit 15 17 CFR 200.30–3(a)(12).

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4944 Federal Register / Vol. 83, No. 23 / Friday, February 2, 2018 / Notices

registration statements (see the separate SECURITIES AND EXCHANGE terms not defined herein have the same
PRA submissions for Form N–3 (17 CFR COMMISSION meaning as set forth in the OCC By-
274.11b), Form N–4 (17 CFR 274.11c) Laws and Rules.6
[Release No. 34–82596; File No. SR–OCC–
and Form N–6 (17 CFR 274.11d). The 2018–004] II. Clearing Agency’s Statement of the
Commission is requesting a burden of Purpose of, and Statutory Basis for, the
one hour for Rule 11a–2 for Self-Regulatory Organizations; The Proposed Rule Change
administrative purposes. Options Clearing Corporation; Notice
of Filing and Immediate Effectiveness In its filing with the Commission,
The estimate of average burden hours OCC included statements concerning
is made solely for the purposes of the of Proposed Rule Change To Revise
The Options Clearing Corporation’s the purpose of and basis for the
PRA, and is not derived from a proposed rule change and discussed any
Schedule of Fees
comprehensive or even a representative comments it received on the proposed
survey or study of the costs of January 30, 2018. rule change. The text of these statements
Commission rules or forms. With regard Pursuant to Section 19(b)(1) of the may be examined at the places specified
to Rule 11a–2, the Commission includes Securities Exchange Act of 1934 in Item IV below. OCC has prepared
the estimate of burden hours in the total (‘‘Act’’),1 and Rule 19b–4 thereunder,2 summaries, set forth in sections (A), (B),
number of burden hours estimated for notice is hereby given that on January and (C) below, of the most significant
completing the relevant registration 19, 2018, The Options Clearing aspects of these statements.
statements and reported on the separate Corporation (‘‘OCC’’) filed with the
Securities and Exchange Commission (A) Clearing Agency’s Statement of the
PRA submissions for those statements Purpose of, and Statutory Basis for, the
(see the separate PRA submissions for (‘‘Commission’’) the proposed rule
change as described in Items I, II, and Proposed Rule Change
Form N–3, Form N–4 and Form N–6).
III below, which Items have been (1) Purpose
The information collection requirements
prepared by OCC. OCC filed the
imposed by Rule 11a–2 are mandatory. The purpose of this proposed rule
proposed rule change pursuant to
Responses to the collection of change is to revise OCC’s Schedule of
Section 19(b)(3)(A)(ii) 3 of the Act and
information will not be kept Fees in accordance with its Fee Policy
Rule 19b–4(f)(2) 4 thereunder so that the
confidential. to set OCC’s fees at a level designed to
proposal was effective upon filing with
Written comments are invited on: (a) cover OCC’s operating expenses and
the Commission. The Commission is
maintain a Business Risk Buffer of
Whether the collection of information is publishing this notice to solicit
25%.7 The revised fee schedule would
necessary for the proper performance of comments on the proposed rule change
from interested persons. become effective on March 1, 2018.8
the functions of the Commission, By way of background, OCC
including whether the information has I. Clearing Agency’s Statement of the implemented its Capital Plan in 2015,9
practical utility; (b) the accuracy of the Terms of Substance of the Proposed which was put in place in light of
Commission’s estimate of the burden of Rule Change proposed regulatory capital
the collection of information; (c) ways to requirements applicable to systemically
The proposed rule change by OCC
enhance the quality, utility, and clarity important financial market utilities,
would revise OCC’s Schedule of Fees
of the information collected; and (d) such as OCC. As part of OCC’s Capital
effective March 1, 2018, to implement
ways to minimize the burden of the an increase in clearing fees in Plan, OCC adopted a Fee Policy
collection of information on accordance with OCC’s Fee Policy.5 The whereby OCC would set clearing fees at
respondents, including through the use proposed changes to the Schedule of a level that covers OCC’s operating
of automated collection techniques or Fees can be found in Exhibit 5 to the
other forms of information technology. proposed rule change. All capitalized
6 OCC’s By-Laws and Rules can be found on

Consideration will be given to OCC’s public website: http://optionsclearing.com/
about/publications/bylaws.jsp.
comments and suggestions submitted in 1 15 U.S.C. 78s(b)(1). 7 The Business Risk Buffer is equal to net income
writing within 60 days of this 2 17 CFR 240.19b–4. before refunds, dividends, and taxes divided by
publication. 3 15 U.S.C. 78s(b)(3)(A)(ii). total revenue.
4 17 CFR 240.19b–4(f)(2). 8 OCC recently filed a proposed rule change with
Please direct your written comments 5 OCC’s Fee Policy was adopted as part of OCC’s the Commission to revise its Fee Policy to provide
to Pamela Dyson, Director/Chief plan for raising additional capital (‘‘Capital Plan’’), that proposed fee changes are required to be
Information Officer, Securities and which was put in place in light of proposed implemented no sooner than thirty (30) days from
regulatory capital requirements applicable to the date of filing of the proposed rule change
Exchange Commission, C/O Remi systemically important financial market utilities, concerning such fee change (as opposed to sixty
Pavlik-Simon, 100 F Street NE, such as OCC. See Exchange Act Release No. 34– (60) days). See SR–OCC–2018–001. OCC also has
Washington, DC 20549; or send an email 74452 (March 6, 2015), 80 FR 13058 (March 12, submitted the proposed changes to its Fee Policy to
2015) (SR–OCC–2015–02); Exchange Act Release the Commodity Futures Trading Commission
to: PRA_Mailbox@sec.gov. (‘‘CFTC’’) under CFTC Regulation 40.6 and expects
No. 34–74387 (February 26, 2015), 80 FR 12215
Dated: January 30, 2018. (March 6, 2015) (SR–OCC–2014–813) (‘‘Approval the proposed changes to be certified on January 24,
Orders’’). BATS Global Markets, Inc., BOX Options 2018. OCC notes that implementation of the
Eduardo A. Aleman, Exchange LLC, KCG Holdings, Inc., Miami proposed fee change on March 1, 2018, requires
Assistant Secretary. International Securities Exchange, LLC, and either (i) Commission approval of SR–OCC–2018–
Susquehanna International Group, LLP each filed 001 and certification of the Fee Policy changes in
[FR Doc. 2018–02117 Filed 2–1–18; 8:45 am]
petitions for review of the Approval Order, SR–OCC–2018–001 under CFTC Regulation 40.6 or
BILLING CODE 8011–01–P challenging the action taken by delegated authority. (ii) an exception to the 60-day notice period
sradovich on DSK3GMQ082PROD with NOTICES

Following review of these petitions, on August 8, provision in the Fee Policy authorized by OCC’s
2017, the U.S. Court of Appeals for the D.C. Circuit Board of Directors and the holders of all of the
remanded the Approval Orders to the Commission outstanding Class B Common Stock of OCC. OCC’s
to further analyze whether the Capital Plan is Board of Directors unanimously approved, and the
consistent with the Securities Exchange Act of holders of all of the outstanding Class B Common
1934. Susquehanna Int’l Grp., LLP v. SEC, 866 F.3d Stock of OCC unanimously consented to, the
442 (D.C. Cir. 2017). While the Commission further reduction of the 60-day notice period to 30 days on
analyzes the Capital Plan, it remains in effect as December 15, 2016.
originally approved by the Commission. See id. 9 See supra note 5.

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Document Created: 2018-02-03 14:27:24
Document Modified: 2018-02-03 14:27:24

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 4943