83 FR 49959 - Submission for OMB Review; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 192 (October 3, 2018)

Page Range		49959-49960
FR Document		2018-21509

Federal Register, Volume 83 Issue 192 (Wednesday, October 3, 2018)

[Federal Register Volume 83, Number 192 (Wednesday, October 3, 2018)]
[Notices]
[Pages 49959-49960]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-21509]


-----------------------------------------------------------------------

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:
    Regulation FD, SEC File No. 270-475, OMB Control No. 3235-0536

    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.
    Regulation FD (17 CFR 243.100 et seq.)--Other Disclosure Materials 
requires public disclosure of material information from issuers of 
publicly traded securities so that investors have current information 
upon which to base investment decisions. The purpose of the regulation 
is to require that: (1) When an issuer intentionally discloses

[[Page 49960]]

material information, to do so through public disclosure, not selective 
disclosure; and (2) to make prompt public disclosure of material 
information that was unintentionally selectively disclosed. Regulation 
FD was adopted due to a concern that the practice of selective 
disclosure leads to a loss of investor confidence in the integrity of 
our capital markets. All information is provided to the public for 
review. The information required is filed on occasion and is mandatory. 
We estimate that approximately 13,000 issuers make Regulation FD 
disclosures approximately five times a year for a total of 58,000 
submissions annually, not including an estimated 7,000 issuers who file 
Form 8-K to comply with Regulation FD. We estimate that it takes 
approximately 5 hours per response (58,000 responses x 5 hours) for a 
total burden of 290,000 hours annually. In addition, we estimate that 
25% of the 5 hours (1.25 hours) is prepared by the filer for an annual 
reporting burden of 72,500 hours (1.25 hours per response x 58,000 
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 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: September 27, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-21509 Filed 10-2-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 192 / Wednesday, October 3, 2018 / Notices 49959

fee, or other charge imposed by the filing also will be available for the Commission shall either approve the
Exchange. inspection and copying at the principal proposed rule change, disapprove the
At any time within 60 days of the office of the Exchange. All comments proposed rule change, or institute
filing of such proposed rule change, the received will be posted without change. proceedings to determine whether the
Commission summarily may Persons submitting comments are proposed rule change should be
temporarily suspend such rule change if cautioned that we do not redact or edit disapproved. The 45th day for this filing
it appears to the Commission that such personal identifying information from is October 1, 2018.
action is necessary or appropriate in the comment submissions. You should The Commission is extending the 45-
public interest, for the protection of submit only information that you wish day time period for Commission action
investors, or otherwise in furtherance of to make available publicly. All on the proposed rule change. The
the purposes of the Act. If the submissions should refer to File Commission finds that it is appropriate
Commission takes such action, the Number SR–NYSE–2018–41 and should to designate a longer period within
Commission shall institute proceedings be submitted on or before October 24, which to take action on the proposed
under Section 19(b)(2)(B) 10 of the Act to 2018. rule change so that it has sufficient time
determine whether the proposed rule to consider the proposed rule change.
For the Commission, by the Division of
change should be approved or Accordingly, pursuant to Section
Trading and Markets, pursuant to delegated
disapproved. authority.11 19(b)(2) of the Act 5 and for the reasons
Eduardo A. Aleman,
stated above, the Commission
IV. Solicitation of Comments designates November 15, 2018, as the
Assistant Secretary.
Interested persons are invited to date by which the Commission shall
submit written data, views, and [FR Doc. 2018–21482 Filed 10–2–18; 8:45 am]
either approve or disapprove, or
arguments concerning the foregoing, BILLING CODE 8011–01–P institute proceedings to determine
including whether the proposed rule whether to disapprove, the proposed
change is consistent with the Act. rule change (File No. SR–CboeBYX–
Comments may be submitted by any of SECURITIES AND EXCHANGE 2018–014).
the following methods: COMMISSION
For the Commission, by the Division of
[Release No. 34–84297; File No. SR– Trading and Markets, pursuant to delegated
Electronic Comments CboeBYX–2018–014] authority.6
• Use the Commission’s internet Eduardo A. Aleman,
comment form (http://www.sec.gov/ Self-Regulatory Organizations; Cboe
Assistant Secretary.
rules/sro.shtml); or BYX Exchange, Inc.; Notice of
[FR Doc. 2018–21487 Filed 10–2–18; 8:45 am]
• Send an email to rule-comments@ Designation of Longer Period for
BILLING CODE 8011–01–P
sec.gov. Please include File Number SR– Commission Action on Proposed Rule
NYSE–2018–41 on the subject line. Change To Make Permanent Rule
11.24, Which Sets Forth the
Paper Comments SECURITIES AND EXCHANGE
Exchange’s Pilot Retail Price
• Send paper comments in triplicate COMMISSION
Improvement Program
to Secretary, Securities and Exchange
September 27, 2018. Submission for OMB Review;
Commission, 100 F Street NE, Comment Request
Washington, DC 20549–1090. On July 30, 2018, Cboe BYX
All submissions should refer to File Exchange, Inc. (the ‘‘Exchange’’ or Upon Written Request Copies Available
Number SR–NYSE–2018–41. This file ‘‘BYX’’) filed with the Securities and From: Securities and Exchange
number should be included on the Exchange Commission (‘‘Commission’’), Commission, Office of FOIA Services,
subject line if email is used. To help the pursuant to Section 19(b)(1) of the 100 F Street NE, Washington, DC
Commission process and review your Securities Exchange Act of 1934 20549–2736
comments more efficiently, please use (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a Extension:
only one method. The Commission will proposed rule change to make Regulation FD, SEC File No. 270–475,
post all comments on the Commission’s permanent Rule 11.24, which sets forth OMB Control No. 3235–0536
internet website (http://www.sec.gov/ the Exchange’s pilot Retail Price
Notice is hereby given that, pursuant
rules/sro.shtml). Copies of the Improvement Program. The proposed
to the Paperwork Reduction Act of 1995
submission, all subsequent rule change was published for comment
(44 U.S.C. 3501 et seq.), the Securities
amendments, all written statements in the Federal Register on August 17,
and Exchange Commission
with respect to the proposed rule 2018.3 The Commission has received no
(‘‘Commission’’) has submitted to the
change that are filed with the comments on the proposal.
Section 19(b)(2) of the Act 4 provides Office of Management and Budget this
Commission, and all written request for extension of the previously
communications relating to the that within 45 days of the publication of
notice of the filing of a proposed rule approved collection of information
proposed rule change between the discussed below.
Commission and any person, other than change, or within such longer period up
Regulation FD (17 CFR 243.100 et
those that may be withheld from the to 90 days as the Commission may
seq.)—Other Disclosure Materials
public in accordance with the designate if it finds such longer period
requires public disclosure of material
provisions of 5 U.S.C. 552, will be to be appropriate and publishes its
information from issuers of publicly
available for website viewing and reasons for so finding or as to which the
traded securities so that investors have
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printing in the Commission’s Public self-regulatory organization consents,
current information upon which to base
Reference Room, 100 F Street NE, 11 17
investment decisions. The purpose of
CFR 200.30–3(a)(12).
Washington, DC 20549 on official 1 15 U.S.C. 78s(b)(1). the regulation is to require that: (1)
business days between the hours of 2 17 CFR 240.19b–4. When an issuer intentionally discloses
10:00 a.m. and 3:00 p.m. Copies of the 3 See Securities Exchange Act Release No. 83831

(August 13, 2018), 83 FR 41128. 5 15 U.S.C. 78s(b)(2).
10 15 U.S.C. 78s(b)(2)(B). 4 15 U.S.C. 78s(b)(2). 6 17 CFR 200.30–3(a)(31).

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49960 Federal Register / Vol. 83, No. 192 / Wednesday, October 3, 2018 / Notices

material information, to do so through SECURITIES AND EXCHANGE II. Description of the Amended
public disclosure, not selective COMMISSION Proposal 6
disclosure; and (2) to make prompt The Exchange proposes to amend the
public disclosure of material [Release No. 34–84299; File No. SR– Exchange’s index options rules to
information that was unintentionally CboeEDGX–2018–035] permit the listing and trading of XSP
selectively disclosed. Regulation FD was options and RUT options. As more fully
adopted due to a concern that the Self-Regulatory Organizations; Cboe set forth in the Notice and Amendment
practice of selective disclosure leads to EDGX Exchange, Inc.; Order Nos. 1 and 3 and further described
a loss of investor confidence in the Approving a Proposed Rule Change, below, the proposed new rules and
integrity of our capital markets. All as Modified by Amendment Nos. 1 and changes to existing rules of the
information is provided to the public for 3, To Permit the Listing and Trading of Exchange are based on the existing rules
review. The information required is Options That Overlie the Mini-SPX of other options exchanges.7
filed on occasion and is mandatory. We Index and the Russell 2000 Index XSP and RUT options will be A.M.,
estimate that approximately 13,000 cash-settled contracts with European-
issuers make Regulation FD disclosures September 27, 2018. style exercise.8 XSP options are options
on the Mini-SPX Index, the current
approximately five times a year for a I. Introduction value of which is 1/10th the value of the
total of 58,000 submissions annually, Standard & Poor’s 500 Stock Index
not including an estimated 7,000 issuers On August 10, 2018, Cboe EDGX
Exchange, Inc. (‘‘Exchange’’) filed with reported by the reporting authority.9
who file Form 8–K to comply with RUT options are options on the Russell
Regulation FD. We estimate that it takes the Securities and Exchange
2000 Index.10 According to the
approximately 5 hours per response Commission (‘‘Commission’’ or ‘‘SEC’’),
Exchange, the index underlying each of
(58,000 responses × 5 hours) for a total pursuant to Section 19(b)(1) of the XSP and RUT options satisfies the
burden of 290,000 hours annually. In Securities Exchange Act of 1934 criteria of a broad-based index for the
addition, we estimate that 25% of the 5 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a initial listing of options on that index,
hours (1.25 hours) is prepared by the proposed rule change to permit the as set forth in Rule 29.3(b). XSP and
filer for an annual reporting burden of listing and trading of options that RUT options will be subject to the
72,500 hours (1.25 hours per response × overlie the Mini-SPX Index (‘‘XSP maintenance listing standards set forth
58,000 responses). options’’), the Russell 2000 Index (‘‘RUT in Rule 29.3(c).11
options’’), and the Dow Jones Industrial As described more fully in the Notice
An agency may not conduct or
Average (‘‘DJX options’’). The proposed and Amendment Nos. 1 and 3, the
sponsor, and a person is not required to Exchange has proposed rules related to
rule change was published for comment
respond to, a collection of information the listing and trading of XSP and RUT,
in the Federal Register on August 21,
unless it displays a currently valid including the minimum increments
2018.3 The Commission received no
control number. applicable to XSP 12 and strike intervals
comments in response to the Notice. On
The public may view the background September 18, 2018, the Exchange filed applicable to both XSP and RUT.13 In
documentation for this information Amendment No. 1 to the proposal.4 On addition, the Exchange has proposed
collection at the following website, September 25, 2018, the Exchange filed changes to its long-term index options
www.reginfo.gov. Comments should be Amendment No. 3 to the proposal.5 This 6 For a more complete description of the proposed
directed to: (i) Desk Officer for the order approves the proposed rule rule change, see Notice, supra note 3; Amendment
Securities and Exchange Commission, change, as modified by Amendment No. 1, supra note 4; and Amendment No. 3, supra
Office of Information and Regulatory Nos. 1 and 3 thereto. note 5.
7 See, e.g., Cboe Options Rules 6.42, 24.7, and
Affairs, Office of Management and
24.9; C2 Rule 6.11(a)(2).
Budget, Room 10102, New Executive 1 15 U.S.C. 78s(b)(1). 8 See proposed changes to Rule 29.11(a)(4) and
Office Building, Washington, DC 20503, 2 17 CFR 240.19b–4. Rule 29.11(a)(5)(B).
or by sending an email to: Shagufta_ 3 See Securities Exchange Act Release No. 83853 9 See proposed Interpretation and Policy .01 to

Ahmed@omb.eop.gov; and (ii) Pamela (August 15, 2018), 83 FR 42344 (‘‘Notice’’). Rule 29.11, which states that the current index
4 Amendment No. 1 provides that the lowest value of XSP options will be 1/10th the value of the
Dyson, Director/Chief Information strike price interval that may be listed for XSP Standard & Poor’s 500 Stock Index reported by the
Officer, Securities and Exchange option series under the Short Term Option Series reporting authority. The Exchange states that the
Commission, c/o Candace Kenner, 100 F Program is $0.50. The Exchange notes that this S&P Dow Jones Indices is the reporting authority for
provision was inadvertently omitted in the initial the Mini-SPX Index. See proposed Interpretation
Street NE, Washington, DC 20549 or and Policy .01 to Rule 29.2.
filing. Amendment No. 1 is available at https://
send an email to: PRA_Mailbox@ www.sec.gov/comments/sr-cboeedgx-2018-035/ 10 The Exchange states that the Frank Russell

sec.gov. Comments must be submitted to srcboeedgx2018035-4388446-175573.pdf. Because Company is the reporting authority for the Russell
OMB within 30 days of this notice. Amendment No. 1 does not materially alter the 2000 Index. See proposed Interpretation and Policy
substance of the proposed rule change or raise .01 to Rule 29.2.
Dated: September 27, 2018. unique or novel regulatory issues, Amendment No. 11 In the event XSP or RUT options fails to satisfy

Eduardo A. Aleman, 1 is not subject to notice and comment. the maintenance listing standards set forth in Rule
5 The Exchange filed Amendment No. 2 to the 29.3(c), the Exchange states that it will not open for
Assistant Secretary. proposal on September 24, 2018. On September 25, trading any additional series of options of that class
[FR Doc. 2018–21509 Filed 10–2–18; 8:45 am] 2018, the Exchange withdrew Amendment No. 2 unless the continued listing of that class of index
and replaced it with Amendment No. 3. options has been approved by the Commission
BILLING CODE 8011–01–P under Section 19(b)(2) of the Act. See Notice, supra
Amendment No. 3 removes all aspects of the
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proposal related to the listing and trading of DJX note 3, at 42345, n. 4.
12 See proposed Rule 21.5, Interpretation and
options. Amendment No. 3 is available at https://
www.sec.gov/comments/sr-cboeedgx-2018-035/ Policy .02. The minimum increment for RUT will
srcboeedgx2018035-4423273-175678.pdf. Because be as set forth in current Rule 21.5: Five cents if
Amendment No. 3 removes all references specific the series is trading below $3.00, and ten cents if
to the listing and trading of DJX options from the the series is trading at or above $3.00. See Notice,
original proposal and does not raise unique or novel supra note 3, at 42345.
regulatory issues, Amendment No. 3 is not subject 13 See proposed changes to Rule 29.11(c)(1) and

to notice and comment. (c)(5).

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Document Created: 2018-10-03 02:30:18
Document Modified: 2018-10-03 02:30:18

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 49959