60 Day Notice

19050

Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / Notices

including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments

[FR Doc. 2020–06956 Filed 4–2–20; 8:45 am]

• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
DTC–2020–007 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549.

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For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.21
J. Matthew DeLesDernier,
Assistant Secretary.

All submissions should refer to File
Number SR–DTC–2020–007. 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 DTC and on DTCC’s website
(http://dtcc.com/legal/sec-rulefilings.aspx). 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–DTC–
2020–007 and should be submitted on
or before April 24, 2020.

BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–196, OMB Control No.
3235–0202]

Proposed Collection; 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 15c2–11

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 15c2–11, (17 CFR
240.15c2–11), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 15c2–11 under the Exchange Act
regulates the initiation or resumption of
quotations in a quotation medium by a
broker-dealer for over-the-counter
(‘‘OTC’’) securities. The Rule is
intended to prevent broker-dealers from
initiating or resuming quotations for
OTC securities that may facilitate a
fraudulent or manipulative scheme.
Subject to certain exceptions, the Rule
prohibits broker-dealers from publishing
a quotation for a security, or submitting
a quotation for publication, in a
quotation medium unless they have
reviewed specified information
concerning the security and the issuer.
With respect to the securities of certain
private issuers, a broker-dealer must
make such information reasonably
available upon request to any person
expressing an interest in a proposed
transaction in the security with such
broker or dealer.
Based on information provided by the
Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’), we
understand that in the 2019 calendar
year, approximately 34 broker-dealers
21 17

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CFR 200.30–3(a)(12).

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completed information reviews
pursuant to the Rule for 384 securities—
87 concerning securities of reporting
issuers, and 297 concerning securities of
non-reporting issuers. The collection of
information that is submitted to FINRA
for review and approval is currently not
available to the public from FINRA.
We estimate that it will take a brokerdealer 4 hours to review, record and
retain the information pertaining to a
reporting issuer (approximately 3 hours
relating to recordkeeping and one hour
relating to third-party disclosure), and 8
hours to review, record and retain the
information pertaining to a nonreporting issuer (approximately 7 hours
relating to recordkeeping and one hour
relating to third-party disclosure). We
therefore estimate that the total time
burden for recordkeeping associated
with the information review
requirement of the Rule will be 2,340
hours [for (87 reviews for reporting
issuers × 3 hours) + (297 reviews for
non-reporting issuers × 7 hours)]; and
the total time burden for third-party
disclosure associated with the
information review requirement of the
Rule will be 384 hours [for (87 reviews
for reporting issuers × 1 hour) + (297
reviews for non-reporting issuers × 1
hour)]. Thus, we estimate the
industrywide total annual burden hours
associated with the information review
requirement under the Rule to be 2,724
hours (2,340 hours for recordkeeping +
384 hours for third-party disclosure).
The Commission believes that the
internal compliance costs for these
2,724 hours would be borne by internal
staff working at a rate of $62 per hour.1
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
1 The $62 per hour figure for a General Clerk is
from SIFMA’s Office Salaries in the Securities
Industry 2013, modified by Commission staff to
account for an 1800-hourwork-year and inflation,
and multiplied by 2.93 to account for bonuses, firm
size, employee benefits and overhead.

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Federal Register / Vol. 85, No. 65 / Friday, April 3, 2020 / 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.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: March 31, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–07022 Filed 4–2–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–189, OMB Control No.
3235–0201]

Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–27363.

jbell on DSKJLSW7X2PROD with NOTICES

Extension:
Rule 17a–2.

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’’) is soliciting comments
on the existing collection of information
provided for in Rule 17a–2 (17 CFR
240.17a–2), 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 17a–2—Recordkeeping
Requirements Relating to Stabilizing
Activities—requires underwriters to
maintain information regarding
stabilizing activities conducted in
accordance with Rule 104 of Regulation
M. The collections of information under
Regulation M and Rule 17a–2 are
necessary for covered persons to obtain
certain benefits or to comply with
certain requirements. The collections of
information are necessary to provide the
Commission with information regarding
syndicate covering transactions and
penalty bids. The Commission may
review this information during periodic
examinations or with respect to
investigations. Except for the
information required to be kept under
Rule 104(i) (17 CFR 242.104(i)) and Rule
17a–2(c), none of the information

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required to be collected or disclosed for
PRA purposes will be kept confidential.
The recordkeeping requirement of Rule
17a–2 requires the information be
maintained in a separate file, or in a
separately retrievable format, for a
period of three years, the first two years
in an easily accessible place, consistent
with the requirements of Exchange Act
Rule 17a–4(f) (17 CFR 240.17a–4(f)).
There are approximately 805
respondents per year that require an
aggregate total of 4,025 hours to comply
with this rule. Each respondent makes
an estimated 1 annual response. Each
response takes approximately 5 hours to
complete. Thus, the total compliance
burden per year is 4,025 burden hours.
The total estimated internal compliance
cost for the respondents is
approximately $281,750, resulting in an
internal cost of compliance for each
respondent per response of
approximately $350.00 (i.e.,
$281,750.00/805 responses).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
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.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected].
Dated: March 31, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–07023 Filed 4–2–20; 8:45 am]
BILLING CODE 8011–01–P

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19051

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–410, OMB Control No.
3235–0466]

Proposed Collection; 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 103

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’’) is soliciting comments
on the existing collection of information
provided for in Rule 103 of Regulation
M (17 CFR 242.103), 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 103—Nasdaq Passive Market
Making—permits passive marketmaking in Nasdaq securities during a
distribution. A distribution participant
that seeks use of this exception would
be required to disclose to third parties
its intention to engage in passive market
making.
There are approximately 307
respondents per year that require an
aggregate total of 307 hours to comply
with this rule. Each respondent makes
an estimated 1 annual response. Each
response takes approximately 1 hour to
complete. Thus, the total compliance
burden per year is 307 burden hours.
The total estimated internal labor cost of
compliance for the respondents is
approximately $21,490.00 per year,
resulting in an estimated internal labor
cost of compliance per response of
approximately $70.00 (i.e., $21,490.00/
307 responses).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.

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