30 Day Notice

35356

Federal Register / Vol. 85, No. 111 / Tuesday, June 9, 2020 / Notices

Comments may be submitted by any of
the following methods:

SECURITIES AND EXCHANGE
COMMISSION

Electronic Comments

[SEC File No. 270–196, OMB Control No.
3235–0202]

• 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–
CBOE–2020–014 on the subject line.
Paper Comments

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• 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–2020–014. 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 these
filings 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–2020–014 and
should be submitted on or before June
30, 2020. Rebuttal comments should be
submitted by July 14, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.40
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–12381 Filed 6–8–20; 8:45 am]
BILLING CODE 8011–01–P
40 17

CFR 200.30–3(a)(57).

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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 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’’) 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 15c2–11, (17 CFR 240.15c2–11),
under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) (‘‘Exchange
Act’’).
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 specified 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
Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’), we
understand that in the 2019 calendar
year, approximately 34 broker-dealers
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

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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 under
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
compliance costs for these 2,724 hours
would be borne by internal staff
working at a rate of $62 per hour.1
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. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: June 3, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–12389 Filed 6–8–20; 8:45 am]
BILLING CODE 8011–01–P
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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