83 FR 53127 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 203 (October 19, 2018)
Federal Register Volume 83, Issue 203 (October 19, 2018)
| Page Range | 53127-53128 | |
| FR Document | 2018-22781 |
[Federal Register Volume 83, Number 203 (Friday, October 19, 2018)] [Notices] [Pages 53127-53128] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-22781] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270-348, OMB Control No. 3235-0394] 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 15g-5 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 [[Page 53128]] collection of information provided for in Rule 15g-5--Disclosure of Compensation of Associated Persons in Connection with Penny Stock Transactions--(17 CFR 240.15g-5) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 15g-5 requires brokers and dealers to disclose to customers the amount of compensation to be received by their sales agents in connection with penny stock transactions. The purpose of the rule is to increase the level of disclosure to investors concerning penny stocks generally and specific penny stock transactions. The Commission estimates that approximately 195 broker-dealers will spend an average of 87 hours annually to comply with the rule. Thus, the total compliance burden is approximately 16,965 burden-hours per year. Rule 15g-5 contains record retention requirements. Compliance with the rule is mandatory. 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 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) Charles Riddle, Acting 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 [email protected]. Comments must be submitted within 30 days of this notice. Dated: October 15, 2018. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-22781 Filed 10-18-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 203 / Friday, October 19, 2018 / Notices 53127
under Nasdaq Rule 5735(b)(1) 22 and as Industry Regulatory Authority compliance with the continued listing
otherwise provided in the current (‘‘FINRA’’) on behalf of the Exchange, requirements. If the Fund is not in
proposal, the Fund and the Shares which are designed to detect violations compliance with the applicable listing
would continue to comply with the of Exchange rules and applicable federal requirements, the Exchange will
requirements applicable to Managed securities laws,24 and these procedures commence delisting procedures under
Fund Shares under Nasdaq Rule 5735. are adequate to properly monitor the Nasdaq 5800 Series.
The Commission also finds that the Exchange trading of the Shares in all This approval order is based on all of
proposal is consistent with Section trading sessions and to deter and detect the Exchange’s representations,
11A(a)(1)(C)(iii) of the Act,23 which sets violations of Exchange rules and including those set forth above and in
forth Congress’s finding that it is in the applicable federal securities laws. Amendment No. 1.
public interest and appropriate for the FINRA, on behalf of the Exchange, and For the foregoing reasons, the
protection of investors and the the Exchange would communicate as Commission finds that the proposed
maintenance of fair and orderly markets needed regarding trading in the Shares rule change, as modified by Amendment
to assure the availability to brokers, and the exchange-listed instruments No. 1, is consistent with Section 6(b)(5)
dealers, and investors of information held by the Fund (including exchange- of the Act 26 and Section
with respect to quotations for and listed Equity-Based Received 11A(a)(1)(C)(iii) of the Act 27 and the
transactions in securities. As proposed, Instruments (if any) and any other rules and regulations thereunder
intra-day executable price quotations for exchange-listed equity securities) with applicable to a national securities
the Senior Loans, fixed income other markets and other entities that are exchange.
securities, and other assets (including members of ISG. FINRA and the
any Received Instruments and Defaulted Exchange both may obtain trading IV. Conclusion
Loans) held by the Fund would be information regarding trading in the It is therefore ordered, pursuant to
available from major broker-dealer firms Shares and such exchange-listed Section 19(b)(2) of the Act,28 that the
and/or market data vendors (and/or, if instruments held by the Fund from proposed rule change (SR–NASDAQ–
applicable, on the exchange on which markets and other entities that are 2018–050), as modified by Amendment
they are traded). Intra-day price members of ISG, which include No. 1 be, and hereby is, approved.
information for the holdings of the Fund securities exchanges. The Exchange may
For the Commission, by the Division of
would be available through subscription also obtain information regarding Trading and Markets, pursuant to delegated
services, such as Markit, Bloomberg, trading in the Shares and such authority.29
and Thomson Reuters, which can be exchange-listed instruments held by the Eduardo A. Aleman,
accessed by authorized participants and Fund from markets and other entities
Assistant Secretary.
other investors, and/or from with which it has in place a
independent pricing services. [FR Doc. 2018–22775 Filed 10–18–18; 8:45 am]
comprehensive surveillance sharing
On each business day, before agreement. Moreover, FINRA, on behalf BILLING CODE 8011–01–P
commencement of trading in Shares in of the Exchange, would be able to
the Regular Market Session on the access, as needed, trade information for
Exchange, the Fund would continue to certain fixed income securities held by SECURITIES AND EXCHANGE
disclose on www.ftportfolios.com the the Fund reported to FINRA’s Trade COMMISSION
Disclosed Portfolio (as defined in Reporting and Compliance Engine. [SEC File No. 270–348, OMB Control No.
Nasdaq Rule 5735(c)(2)) that will form The Exchange represents that all 3235–0394]
the basis for the Fund’s calculation of statements and representations made in
net asset value (‘‘NAV’’) at the end of the filing regarding (a) the description of Submission for OMB Review;
the business day. NAV per Share would the portfolio or reference assets, (b) Comment Request
continue to be calculated daily, and the limitations on portfolio holdings or
NAV and the Disclosed Portfolio would Upon Written Request, Copies Available
reference assets, (c) dissemination and
continue to be made available to all From: Securities and Exchange
availability of the reference asset or
market participants at the same time. Commission, Office of FOIA Services,
intraday indicative values, or (d) the
Further, the Intraday Indicative Value 100 F Street NE, Washington, DC
applicability of Exchange listing rules
(as defined in Nasdaq Rule 5735(c)(3)) 20549–2736
shall constitute continued listing
for the Fund would continue to be requirements for listing the Shares on Extension:
widely disseminated by one or more the Exchange. In addition, the issuer has Rule 15g–5
major market data vendors and broadly represented to the Exchange that it will Notice is hereby given that pursuant
displayed at least every 15 seconds advise the Exchange of any failure by to the Paperwork Reduction Act of 1995
during the Regular Market Session. the Fund to comply with the continued (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
In support of this proposal, the listing requirements, and, pursuant to Securities and Exchange Commission
Exchange also represents that trading in its obligations under Section 19(g)(1) of (‘‘Commission’’) has submitted to the
the Shares will be subject to the existing the Act, the Exchange will monitor 25 for Office of Management and Budget
trading surveillances, administered by (‘‘OMB’’) a request for approval of
both the Exchange and the Financial 24 The Exchange states that FINRA surveils
extension of the previously approved
trading on the Exchange pursuant to a regulatory
22 The Fund would continue to generally satisfy services agreement, and the Exchange is responsible
for FINRA’s performance under this regulatory Commission’s view that ‘‘monitor’’ and ‘‘surveil’’
the generic fixed income listing requirements in
both mean ongoing oversight of compliance with
amozie on DSK3GDR082PROD with NOTICES1
Nasdaq Rule 5705(b)(4) on a continuous basis services agreement.
measured at the time of purchase, subject to certain 25 The Commission notes that certain proposals the continued listing requirements. Therefore, the
exceptions and modifications described in the Prior Commission does not view ‘‘monitor’’ as a more or
for the listing and trading of exchange-traded
Notice and the current proposal. In particular, the less stringent obligation than ‘‘surveil’’ with respect
products include a representation that the exchange
Fund may not meet the criteria in Nasdaq Rules to the continued listing requirements.
will ‘‘surveil’’ for compliance with the continued 26 15 U.S.C. 78f(b)(5).
5705(b)(4)(A)(i) and 5705(b)(4)(A)(iii), and the Prior listing requirements. See, e.g., Securities Exchange
27 15 U.S.C. 78k–1(a)(1)(C)(iii).
Notice permitted a modification to the criteria Act Release No. 77499 (April 1, 2016), 81 FR 20428,
under Nasdaq Rule 5705(b)(4)(A)(vi). 28 15 U.S.C. 78s(b)(2).
20432 (April 7, 2016) (SR–BATS–2016–04). In the
23 15 U.S.C. 78k–1(a)(1)(C)(iii). context of this representation, it is the 29 17 CFR 200.30–3(a)(12).
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![53128 Federal Register / Vol. 83, No. 203 / Friday, October 19, 2018 / Notices
collection of information provided for in SECURITIES AND EXCHANGE II. Clearing Agency’s Statement of the
Rule 15g–5—Disclosure of COMMISSION Purpose of, and Statutory Basis for, the
Compensation of Associated Persons in Proposed Rule Change
Connection with Penny Stock [Release No. 34–84428; File No. SR–NSCC– In its filing with the Commission, the
Transactions—(17 CFR 240.15g–5) 2018–008] clearing agency included statements
under the Securities Exchange Act of concerning the purpose of and basis for
1934 (15 U.S.C. 78a et seq.). Self-Regulatory Organizations;
the proposed rule change and discussed
National Securities Clearing
Rule 15g–5 requires brokers and any comments it received on the
Corporation; Notice of Filing and proposed rule change. The text of these
dealers to disclose to customers the Immediate Effectiveness of Proposed
amount of compensation to be received statements may be examined at the
Rule Change To Amend the Clearing places specified in Item IV below. The
by their sales agents in connection with Agency Policy on Capital clearing agency has prepared
penny stock transactions. The purpose Requirements and the Clearing Agency summaries, set forth in sections A, B,
of the rule is to increase the level of Capital Replenishment Plan and C below, of the most significant
disclosure to investors concerning aspects of such statements.
October 15, 2018.
penny stocks generally and specific
penny stock transactions. Pursuant to Section 19(b)(1) of the (A) Clearing Agency’s Statement of the
Securities Exchange Act of 1934 Purpose of, and Statutory Basis for, the
The Commission estimates that (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 Proposed Rule Change
approximately 195 broker-dealers will notice is hereby given that on October
spend an average of 87 hours annually 4, 2018, National Securities Clearing 1. Purpose
to comply with the rule. Thus, the total Corporation (‘‘NSCC’’) filed with the The Clearing Agencies are proposing
compliance burden is approximately Securities and Exchange Commission to revise the Capital Policy and Capital
16,965 burden-hours per year. (‘‘Commission’’) the proposed rule Replenishment Plan, which were
Rule 15g–5 contains record retention change as described in Items I, II and III adopted by the Clearing Agencies in
requirements. Compliance with the rule below, which Items have been prepared July 2017 5 and are maintained by the
is mandatory. by the clearing agency. NSCC filed the Clearing Agencies in compliance with
proposed rule change pursuant to Rule 17Ad–22(e)(15) under the Act.6
An agency may not conduct or Section 19(b)(3)(A) of the Act 3 and Rule
sponsor, and a person is not required to Overview of the Capital Policy and
19b–4(f)(4) thereunder.4 The Capital Replenishment Plan
respond to, a collection of information Commission is publishing this notice to
under the PRA unless it displays a solicit comments on the proposed rule The Capital Policy sets forth the
currently valid OMB control number. change from interested persons. manner in which each Clearing Agency
identifies, monitors, and manages its
The public may view background I. Clearing Agency’s Statement of the general business risk with respect to the
documentation for this information Terms of Substance of the Proposed requirement to hold sufficient liquid net
collection at the following website: Rule Change assets (‘‘LNA’’) funded by equity to
www.reginfo.gov. Comments should be cover potential general business losses
directed to: (i) Desk Officer for the The proposed rule change consists of
amendments to (i) the Clearing Agency so the Clearing Agency can continue
Securities and Exchange Commission, operations and services as a going
Policy on Capital Requirements
Office of Information and Regulatory concern if such losses materialize.7 The
(‘‘Capital Policy’’ or ‘‘Policy’’) of NSCC
Affairs, Office of Management and amount of LNA funded by equity to be
and its affiliates, The Depository Trust
Budget, Room 10102, New Executive held by each of the Clearing Agencies
Company (‘‘DTC’’) and Fixed Income
Office Building, Washington, DC 20503 Clearing Corporation (‘‘FICC,’’ and for this purpose is defined in the Policy
or by sending an email to: Shagufta_ together with DTC and NSCC, the as the General Business Risk Capital
Ahmed@omb.eop.gov; and (ii) Charles ‘‘Clearing Agencies’’); and (ii) the Requirement. The Policy provides that
Riddle, Acting Director/Chief Clearing Agency Capital Replenishment the General Business Risk Requirement
Information Officer, Securities and Plan (‘‘Capital Replenishment Plan’’ or is calculated for each Clearing Agency
Exchange Commission, c/o Candace ‘‘Plan’’) of the Clearing Agencies. In as the greatest of three separate
Kenner, 100 F Street NE, Washington, particular, the proposed revisions to the calculations—(1) an amount based on
DC 20549, or by sending an email to Capital Policy and Capital that Clearing Agency’s general business
PRA_Mailbox@sec.gov. Comments must Replenishment Plan would (1) correct risk profile (‘‘Risk-Based Capital
be submitted within 30 days of this typographical errors and make other Requirement’’), (2) an amount based on
notice. technical revisions to correct and the time estimated to execute a recovery
simplify statements in the Policy and or orderly wind-down of the critical
Dated: October 15, 2018. operations of that Clearing Agency
Plan; (2) replace references in the Policy
Eduardo A. Aleman, (‘‘Recovery/Wind-down Capital
and Plan to the ‘‘Credit Risk Capital
Assistant Secretary. Requirement’’ with the ‘‘Corporate Requirement’’), and (3) an amount based
[FR Doc. 2018–22781 Filed 10–18–18; 8:45 am] Contribution;’’ and (3) update references on an analysis of that Clearing Agency’s
BILLING CODE 8011–01–P in the Policy to the Recovery & Wind- estimated operating expenses for a six
down Plans of each of the Clearing month period (‘‘Operating Expense
Agencies, which were recently adopted Capital Requirement’’). On an annual
amozie on DSK3GDR082PROD with NOTICES1
by the Clearing Agencies, as described basis, each of these three capital
in greater detail below. 5 See Securities Exchange Act Release No. 81105
(July 7, 2017), 82 FR 32399 (July 13, 2017) (SR–
1 15 U.S.C. 78s(b)(1). DTC–2017–003, SR–FICC–2017–007, SR–NSCC–
2 17 CFR 240.19b–4. 2017–004).
3 15 U.S.C. 78s(b)(3)(A). 6 17 CFR 240.17Ad–22(e)(15).
4 17 CFR 240.19b–4(f)(4). 7 Id.
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Document Created: 2018-10-19 01:25:49
Document Modified: 2018-10-19 01:25:49
| 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 53127 |
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