30 Day Notice

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Federal Register / Vol. 84, No. 179 / Monday, September 16, 2019 / Notices

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satisfaction of the Rule 4.10 restrictions
that continue to apply to ensure
adequate financial and operational
capabilities to continue to perform
contracts and otherwise conduct
business safely for market participants,
thereby protecting market participants.
The Exchange also believes that the
proposed rule change does not impact a
Market-Maker clearing TPH’s regular
financial or operational maintenance or
ability to assess and conduct a SBT
because SBTs occur infrequently. The
proposed rule change makes it clear that
if a Market-Maker clearing TPH
anticipates an SBT that may require
prior Exchange approval, then the TPH
may contact the Exchange to determine
whether the TPH exceeds the
parameters under Rule 4.10(b)(2). In
addition to this, the Exchange believes
that the proposed rule change will not
present any new or unique issues for
clearing TPHs because the rules of other
options exchanges, which have
substantially similar SBT parameters
and have previously been filed with the
Commission, do not require the
exchanges to provide monthly notices to
their members regarding their
proportion of market making clearing
business or otherwise indicate to their
members that they exceed, or may
exceed, SBT parameters.10
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. In particular,
the proposed rule change is not
intended to address competitive issues
but rather is concerned with facilitating
less burdensome and more efficient
regulatory administration. The
Exchange does not believe that the
proposed rule change will impose any
intramarket competition, because all
Market-Maker clearing TPHs are free to
contact the Exchange to determine its
standing in regard to the SBT
parameters. The proposed rule change
does not change the restrictions
imposed on these TPHs, which will
continue to apply to Market-Maker
Clearing TPHs in the same manner.
Further, the Exchange does not believe
the proposed rule change will impose
any burden on intermarket competition
because the rules of other options
exchanges, which have been previously
filed with the Commission, provide for
substantially similar parameters in
connection with the impact of a clearing
member’s SBTs but do not contain a
10 See

supra note 6.

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provision that requires such exchanges
to send monthly notice to clearing
members or otherwise indicate to their
clearing members that they exceed such
criteria.11
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change
does not: (i) Significantly affect the
protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 12 and
subparagraph (f)(6) of Rule 19b–4
thereunder.13
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
11 Id.
12 15

U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.

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• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CBOE–2019–055 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CBOE–2019–055. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CBOE–2019–055 and
should be submitted on or before
October 7, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–19900 Filed 9–13–19; 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
14 17

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CFR 200.30–3(a)(12).

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Federal Register / Vol. 84, No. 179 / Monday, September 16, 2019 / Notices
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

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Extension:
Rule 17Ad–10, SEC File No. 270–265,
OMB Control No. 3235–0273

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
Rule 17Ad–10 (17 CFR 240.17Ad–10),
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 17Ad–10 generally requires
registered transfer agents to: (1) Create
and maintain current and accurate
securityholder records; (2) promptly and
accurately record all transfers,
purchases, redemptions, and issuances,
and notify their appropriate regulatory
agency if they are unable to do so; (3)
exercise diligent and continuous
attention in resolving record
inaccuracies; (4) disclose to the issuers
for whom they perform transfer agent
functions and to their appropriate
regulatory agency information regarding
record inaccuracies; (5) buy-in certain
record inaccuracies that result in a
physical over issuance of securities; and
(6) communicate with other transfer
agents related to the same issuer. These
requirements assist in the creation and
maintenance of accurate securityholder
records, enhance the ability to research
errors, and ensure the transfer agent is
aware of the number of securities that
are properly authorized by the issuer,
thereby avoiding over issuance.
The rule also has specific
recordkeeping requirements. It requires
registered transfer agents to retain
certificate detail that has been deleted
for six years and keep current an
accurate record of the number of shares
or principal dollar amount of debt
securities that the issuer has authorized
to be outstanding. These mandatory
requirements ensure accurate
securityholder records and assist the
Commission and other regulatory
agencies with monitoring transfer agents
and ensuring compliance with the rule.
This rule does not involve the collection
of confidential information.
There are approximately 333
registered transfer agents. We estimate
that the average number of hours
necessary for each transfer agent to
comply with Rule 17Ad–10 is
approximately 80 hours per year, which
generates an industry-wide annual
burden of 26,640 hours (333 times 80

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hours). This burden is primarily of a
recordkeeping nature but also includes
a small amount of third party
disclosure. At an average staff cost of
$50 per hour, the industry-wide internal
labor cost of compliance (a monetization
of the burden hours) is approximately
$1,332,000 per year (26,640 × $50).
In addition, we estimate that each
transfer agent will incur an annual
external cost burden of $18,000
resulting from the collection of
information. Therefore, the total annual
external cost on the entire transfer agent
industry is approximately $5,994,000
($18,000 times 333). This cost primarily
reflects ongoing computer operations
and maintenance associated with
generating, maintaining, and disclosing
or providing certain information
required by the rule.
The amount of time any particular
transfer agent will devote to Rule 17Ad–
10 compliance will vary according to
the size and scope of the transfer agent’s
business activity. We note, however,
that at least some of the records,
processes, and communications
required by Rule 17Ad–10 would likely
be maintained, generated, and used for
transfer agent business purposes even
without the rule.
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 to OMB within 30 days of
this notice.
Dated: September 11, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–19976 Filed 9–13–19; 8:45 am]
BILLING CODE 8011–01–P

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48693

SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
Washington, DC 20549–2736.
Extension:
Rule 201 and Rule 200(g) of Regulation
SHO, SEC File No. 270–606, OMB
Control No. 3235–0670

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 201 (17 CFR
242.201) and Rule 200(g) (17 CFR
242.200(g)) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 201 is a short sale-related circuit
breaker rule that, if triggered, imposes a
restriction on the prices at which
securities may be sold short. Rule 200(g)
provides that a broker-dealer may mark
certain qualifying sell orders ‘‘short
exempt.’’ The information collected
under Rule 201’s written policies and
procedures requirement applicable to
trading centers, the written policies and
procedures requirement of the brokerdealer provision of Rule 201(c), the
written policies and procedures
requirement of the riskless principal
provision of Rule 201(d)(6), and the
‘‘short exempt’’ marking requirement of
Rule 200(g) enable the Commission and
self-regulatory organizations (‘‘SROs’’)
to examine and monitor for compliance
with the requirements of Rule 201 and
Rule 200(g).
In addition, the information collected
under Rule 201’s written policies and
procedures requirement applicable to
trading centers help ensure that trading
centers do not execute or display any
impermissibly priced short sale orders,
unless an order is marked ‘‘short
exempt,’’ in accordance with the Rule’s
requirements. Similarly, the information
collected under the written policies and
procedures requirement of the brokerdealer provision of Rule 201(c) and the
riskless principal provision of Rule
201(d)(6) help to ensure that brokerdealers comply with the requirements of
these provisions. The information
collected pursuant to the ‘‘short
exempt’’ marking requirement of Rule
200(g) also provides an indication to a
trading center when it must execute or

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