30 day notice

49964

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

daltland on DSKBBV9HB2PROD with NOTICES

approved by the Commission.32 In
considering the proposed changes to the
Exchange rules related to the listing and
trading of XSP and RUT, including the
rules related to minimum increments 33
and strike price intervals,34 the
Commission notes that the proposed
rules are consistent with the rules of
another exchange.35 In addition, the
Commission notes that the proposed
rule changes related to long-term
options series,36 trading halts,37 the
obvious error process,38 the opening
process 39 and listing additional
expiration months 40 are also consistent
with the rules of other exchanges.41 The
Commission believes that the
Exchange’s proposal does not raise any
novel regulatory issues, as it is
consistent with the rules of other
national securities exchanges previously
approved by the Commission. Finally,
the Commission notes that certain of the
Exchange’s proposed rule changes are
intended to promote clarity about the
applicability of the Exchange’s rules,42
thereby reducing any potential investor
confusion.
The Commission further believes that
the Exchange’s proposed position and
exercise limits, margin requirements
and other aspects of the proposed rule
change related to the listing and trading
of XSP and RUT options are appropriate
and consistent with the Act. In
particular, the Commission notes that
the Exchange rules regarding position
and exercise limits and margin
requirements incorporate by reference
the corresponding Cboe Options rules
which were previously approved by the
Commission. The Commission notes
32 See Securities Exchange Act Release No. 61419
(January 26, 2010), 75 FR 5157 (February 1, 2010).
Additionally, the Commission notes that options on
XSP and RUT will be subject to the maintenance
listing standards of Rule 29.3(c). The Exchange
represents that in the event XSP or RUT options
fails to satisfy the maintenance listing standards set
forth herein, the Exchange will not open for trading
any additional series of options of that class unless
the continued listing of that class of index options
has been approved by the Commission under
Section 19(b)(2) of the Exchange Act. See Notice,
supra note 3, at 42331, n. 4.
33 See proposed Rule 21.5, Interpretation and
Policy .02.
34 See proposed Rule 29.11(c)(1) and (c)(5).
35 See Cboe Options Rule 6.42, Interpretation and
Policy .03; Cboe Options Rule 24.9. Interpretations
and Policies .01(a), .11.
36 See proposed changes to Rule 29.11(b).
37 See proposed changes to Rule 29.10(b).
38 See proposed changes to Rule 20.6(g) and (h).
39 See proposed changes to Rule 21.7.
40 See proposed Rule 29.11(i).
41 See, e.g., Cboe Options Rule 24.9(b)(1); Cboe
Options Rule 24.9, Interpretation and Policy .13;
Cboe Options Rule 24,7(a); Phlx Rule 1047A(c);
Cboe Options Rule 6.25(g) and (h); C2 Rule
6.11(a)(2).
42 See, e.g., proposed changes to Rule
29.11(b)(1)(A); Rule 29.13; Rule 29.15.

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that the Exchange represents that it has
an adequate surveillance program in
place for index options.43 Further, the
Exchange is a member of the ISG, which
provides for the sharing of information
and the coordination of regulatory
efforts among exchanges trading
securities and related products to
address potential intermarket
manipulations and trading abuses.
In approving the proposed rule
change, the Commission has also relied
upon the Exchange’s representation that
it and OPRA have the necessary systems
capacity to support the new options
series that will result from this proposal,
and that the Exchange will monitor the
trading volume associated with the
additional options series listed as a
result of this proposed rule change and
the effect (if any) of these additional
series on market fragmentation and on
the capacity of the Exchange’s
automated systems.44
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,45 that the
proposed rule change (SR-CboeBZX–
2018–058), as modified by Amendment
Nos. 1 and 2, be approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.46
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–21485 Filed 10–2–18; 8:45 am]
BILLING CODE 8011–01–P

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 R, Rule 701, SEC File No. 270–
562, OMB Control No. 3235–0624

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
Regulation R, Rule 701 (17 CFR 247.701)
43 See

Notice, supra note 3, at 42336.
44 See id.
45 15 U.S.C. 78s(b)(2).
46 17 CFR 200.30–3(a)(12).

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under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Regulation R, Rule 701 requires a
broker or dealer (as part of a written
agreement between the bank and the
broker or dealer) to notify the bank if the
broker or dealer makes certain
determinations regarding the financial
status of the customer, a bank
employee’s statutory disqualification
status, and compliance with suitability
or sophistication standards.
The Commission estimates that
brokers or dealers would, on average,
notify 1,000 banks approximately two
times annually about a determination
regarding a customer’s high net worth or
institutional status or suitability or
sophistication standing as well as a
bank employee’s statutory
disqualification status. Based on these
estimates, the Commission anticipates
that Regulation R, Rule 701 would result
in brokers or dealers making
approximately 2,000 notifications to
banks per year. The Commission further
estimates (based on the level of
difficulty and complexity of the
applicable activities) that a broker or
dealer would spend approximately 15
minutes per notice to a bank. Therefore,
the estimated total annual third party
disclosure burden for the requirements
in Regulation R, Rule 701 is 500 1 hours
for brokers or dealers.
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: Shagufta_
[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 by
sending an email to: PRA_Mailbox@
sec.gov. Comments must be submitted to
OMB within 30 days of this notice.
Dated: September 27, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–21511 Filed 10–2–18; 8:45 am]
BILLING CODE 8011–01–P
1 (2,000 notices × 15 minutes) = 30,000 minutes/
60 minutes = 500 hours.

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