Regulation D Rule 504(b)(3) 60 Day Federal Register Notice

Federal Register / Vol. 85, No. 1 / Thursday, January 2, 2020 / Notices
be submitted to OMB within 30 days of
this notice.

[FR Doc. 2019–28311 Filed 12–31–19; 8:45 am]
BILLING CODE 7590–01–P

Dated: December 27, 2019.
J. Matthew DeLesDernier,
Assistant Secretary.

lotter on DSKBCFDHB2PROD with NOTICES

SECURITIES AND EXCHANGE
COMMISSION

[FR Doc. 2019–28317 Filed 12–31–19; 8:45 am]

Submission for OMB Review;
Comment Request

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

SECURITIES AND EXCHANGE
COMMISSION

Extension:
Rules 17Ad–22—Standards for Clearing
Agencies; SEC File No. 270–646, OMB
Control No. 3235–0695

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

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–22 (17 CFR 240.17Ad–22)
under the Securities Exchange Act of
1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et
seq.).
Rule 17Ad–22 was adopted to
strengthen the substantive regulation of
clearing agencies, promote the safe and
reliable operation of covered clearing
agencies, and improve efficiency,
transparency, and access to covered
clearing agencies.1 The total estimated
annual burden of Rule 17Ad–22 is 8,091
hours, and the total estimated annual
cost is $13,397,120.
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 Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
[email protected]. Comments must
1 See 17 CFR 240.17Ad–22; see also Exchange Act
Release No. 34–68080 (Oct. 22, 2012), 77 FR 66219,
66225–26 (Nov. 2, 2012).

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17:39 Dec 31, 2019

Jkt 250001

Proposed Collection; Comment
Request

Extension:
Regulation D Rule 504(b)(3)—Felons and
Other Bad Actors Disclosure Statement;
SEC File No. 270–798, OMB Control No.
3235–0746

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’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Regulation D Rule 504(b)(3) provides
that no exemption under Rule 504 shall
be available for the securities of any
issuer if such issuer would be subject to
disqualification under Rule 506(d) of
Regulation D on or after January 20,
2017; provided that disclosure of prior
‘‘bad actor’’ events shall be required in
accordance with Rule 506(e) of
Regulation D. Rule 504(b)(3) requires
the issuer in a Rule 504 offering to
furnish to each purchaser, a reasonable
time prior to sale, a written description
of any disqualifying events that
occurred before effectiveness of the
amendments to Rule 504 (i.e., before
January 20, 2017) and within the time
periods described in the list of
disqualification events set forth in Rule
506(d)(1) of Regulation D, for the issuer
or any other ‘‘covered person’’
associated with the offering.
Approximately 800 issuers relying on
Rule 504 of Regulation D will spend on
average one additional hour to conduct
a factual inquiry to determine whether
any covered persons had a disqualifying
event that occurred before the effective
date of the amendments for a total of
800 hours. In addition, approximately
eight issuers (or approximately 1% of
800 issuers) will spend ten hours to

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prepare a disclosure statement
describing matters that would have
triggered disqualification under Rule
504(b)(3) of Regulation D had they
occurred on or after the effective date of
the amendments (January 20, 2017) for
total burden 80 hours (8 issuers × 10
hours per response).
For Purposes of the PRA, we estimate
the total paperwork burden for all
affected Rule 504 issuers to comply with
Rule 504(b)(3) requirements would be
approximately 808 issuers and a total of
880 burden hours.
Written comments are invited on: (a)
Whether this proposed collection of
information is necessary for the
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the 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.
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.
Please direct your written comment to
Charles Riddle, Acting 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: December 27, 2019.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2019–28318 Filed 12–31–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87858; File No. SR–NSCC–
2019–004]

Self-Regulatory Organizations;
National Securities Clearing
Corporation; Notice of Filing of
Proposed Rule Change To Enhance
National Securities Clearing
Corporation’s Haircut-Based Volatility
Charge Applicable to Municipal Bonds
December 26, 2019.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934

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