30 day notice

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Federal Register / Vol. 84, No. 22 / Friday, February 1, 2019 / Notices

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84992; SR–CboeEDGX–
2018–049]

Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change
To Adopt Complex Reserve Order
Functionality
January 28, 2019.

On November 8, 2018, Cboe EDGX
Exchange, Inc. filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change to
adopt Complex Reserve Order
functionality. The proposed rule change
was published for comment in the
Federal Register on November 27,
2018.3 On December 19, 2018, the
Commission extended the time period
within which to approve the proposed
rule change, disapprove the proposed
rule change, or institute proceedings to
determine whether to approve or
disapprove the proposed rule change to
February 25, 2019.4 The Commission
received no comment letters regarding
the proposed rule change.
On January 9, 2019, the Exchange
withdrew the proposed rule change(SR–
CboeEDGX–2018–049).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.5
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–00590 Filed 1–31–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–774, OMB Control No.
3235–0727]

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:
Rules 400–404 of Regulation
Crowdfunding (Intermediaries)
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 84642
(November 21, 2018), 83 FR 60911.
4 See Securities Exchange Act Release No. 84868,
83 FR 66800 (December 27, 2018).
5 17 CFR 200.30–3(a)(12).
2 17

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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
Rules 300–304 of Regulation
Crowdfunding.1
The collections of information
required under Rules 400 through 404 is
mandatory for all funding portals. Form
Funding Portal helps ensure that the
Commission can make information
about funding portals transparent and
easily accessible to the investing public,
including issuers and obligated persons
who engage funding portals; investors
who may purchase securities through
offerings on funding portals; and other
regulators. Further, the information
provided on Form Funding Portal
expands the amount of publicly
available information about funding
portals, including disciplinary history.
Consequently, the rules and forms
allows issuers and the investing public,
as well as others, to become more fully
informed about funding portals in a
more efficient manner.
Rule 400 requires each person
applying for registration with the
Commission as a funding portal to file
electronically with the Commission
Form Funding Portal. Rule 400(a)
requires a funding portal to become a
member of a national securities
association registered under Section
15A of the Exchange Act. Rule 400(b)
requires a funding portal to file an
amendment to Form Funding Portal if
any information previously submitted
on Form Funding Portal becomes
inaccurate for any reason. Rule 400(c)
provides that a funding portal can
succeed to the business of a predecessor
funding portal upon the successor filing
a registration on Form Funding Portal
and the predecessor filing a withdrawal
on Form Funding Portal.
Rule 400(d) requires a funding portal
to promptly file a withdrawal of
registration on Form Funding Portal
upon ceasing to operate as a funding
portal. Rule 400(e) states that duplicate
originals of the applications and reports
provided for in this section must be
filed with surveillance personnel
designated by any registered national
securities association of which the
funding portal is a member. Rule 400(f)
requires a nonresident funding portal to:
1 See

Regulation Crowdfunding, Exchange Act
Release No. 76324 (Oct. 30, 2015), 80 FR 71387
(Nov. 16, 2015) (Final Rule) (‘‘Regulation
Crowdfunding’’).

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Sfmt 4703

(1) Obtain a written consent and power
of attorney appointing an agent for
service of process in the United States;
(2) furnish the Commission with the
name and address of its agent for
services of process on Schedule C of
Form Funding Portal; (3) certify that it
can, as a matter of law, and will provide
the Commission and any registered
national securities association of which
it becomes a member with prompt
access to its books and records and can,
as a matter of law, and will submit to
onsite inspection and examination by
the Commission and any registered
national securities association of which
it becomes a member; and (4) provide
the Commission with an opinion of
counsel and certify on Schedule C on
Form Funding Portal that the firm can,
as a matter of law, provide the
Commission and registered national
securities association of which it
becomes a member with prompt access
to its books and records and can, as a
matter of law, submit to onsite
inspection and examination by the
Commission and any registered national
securities association of which it
becomes a member.2
Rule 403(a) requires a funding portal
to implement written policies and
procedures reasonably designed to
achieve compliance with the federal
securities laws and the rules and
regulations thereunder relating to its
business as a funding portal. Rule 403(b)
provides that a funding portal must
comply with privacy rules. Rule 404
requires all registered funding portals to
maintain certain books and records
relating to their funding portal
activities, for not less than five years,
the first two in an easily accessible
place. Rule 404(e) requires funding
portals to furnish promptly to the
Commission, its representatives, and the
registered national securities association
of which the funding portal is a member
true, correct, complete and current
copies of such records of the funding
portal that are requested by the
representatives of the Commission and
the registered national securities
association.
The Commission staff estimates that
annualized industry burden would be
17,554.35 hours to comply with Rules
400–404. The Commission staff
estimates that the costs associated with
complying with Rules 400–404 are
estimated to be approximately a total
amount of $308,729.
2 Exchange Act Section 3(h)(1)(C) permits us to
impose, as part of our authority to exempt funding
portals from broker registration, ‘‘such other
requirements under [the Exchange Act] as the
Commission determines appropriate.’’

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Federal Register / Vol. 84, No. 22 / Friday, February 1, 2019 / Notices
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: Abate,
Lindsay M. EOP/OMB
[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 to OMB within 30 days of
this notice.
Dated: January 29, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–00629 Filed 1–31–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION

Dated: January 29, 2019.
Eduardo A. Aleman,
Deputy Secretary.

[SEC File No. 270–123, OMB Control No.
3235–0105]

Submission for OMB Review;
Comment Request

[FR Doc. 2019–00625 Filed 1–31–19; 8:45 am]
BILLING CODE 8011–01–P

Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Extension:
Form T–3.

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 collections of information
discussed below.
Form T–3 (17 CFR 269.3) is an
application for qualification of an
indenture under the Trust Indenture Act
of 1939 (15 U.S.C. 77aaa et seq.). The
information provided under Form T–3
is used by the Commission to determine
whether to qualify an indenture relating
to an offering of debt securities that is
not required to be registered under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.). Form T–3 is filed on occasion. The

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information required by Form T–3 is
mandatory. This information is publicly
available on EDGAR. Form T–3 takes
approximately 43 hours per response to
prepare and is filed by approximately 16
respondents. We estimate that 25% of
the 43 hours per response (11 hours) is
prepared by the filer for a total annual
reporting burden of 176 hours (11 hours
per response × 16 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)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected]. Comments must be
submitted to OMB within 30 days of
this notice.

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–446, OMB Control No.
3235–0503]

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 N–6

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’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Form N–6 (17 CFR

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Sfmt 4703

1261

239.17c and 274.11d) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) and under the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) registration statement of separate
accounts organized as unit investment
trusts that offer variable life insurance
policies.’’ Form N–6 is the form used by
insurance company separate accounts
organized as unit investment trusts that
offer variable life insurance contracts to
register as investment companies under
the Investment Company Act of 1940
and/or to register their securities under
the Securities Act of 1933. The primary
purpose of the registration process is to
provide disclosure of financial and
other information to investors and
potential investors for the purpose of
evaluating an investment in a security.
Form N–6 also requires separate
accounts organized as unit investment
trusts that offer variable life insurance
policies to provide investors with a
prospectus and a statement of additional
information (‘‘SAI’’) covering essential
information about the separate account
when it makes an initial or additional
offering of its securities.
The Commission estimates that
approximately 388 registration
statements (8 initial registration
statements plus 380 post-effective
amendments) are filed on Form N–6
annually. The estimated hour burden
per portfolio for preparing and filing an
initial registration statement on Form
N–6 is 770.25 hours. The estimated
annual hour burden for preparing and
filing initial registration statements is
6,162 hours (8 initial registration
statements annually times 770.25 hours
per registration statement). The
Commission estimates that the hour
burden for preparing and filing a posteffective amendment on Form N–6 is
67.5 hours. The total annual hour
burden for preparing and filing posteffective amendments is 25,650 hours
(380 post-effective amendments
annually times 67.5 hours per
amendment). The frequency of response
is annual. The total annual hour burden
for Form N–6, therefore, is estimated to
be 31,812 hours (6,162 hours for initial
registration statements plus 25,650
hours for post-effective amendments).
The Commission estimates that the
cost burden for preparing an initial
Form N–6 filing is $26,169 per portfolio
and the current cost burden for
preparing a post-effective amendment to
a previously effective registration
statement is $9,493 per portfolio. The
Commission estimates that, on an
annual basis, 8 portfolios will be
referenced in an initial Form N–6 and
380 portfolios will be referenced in a
post-effective amendment of Form N–6.

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