60 Day Notice

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Federal Register / Vol. 85, No. 138 / Friday, July 17, 2020 / Notices

change, as modified by Amendment No.
1, as it determines whether the
proposed rule change should be
approved or disapproved.43
V. Request for Written Comments
The Commission requests that
interested persons provide written
submissions of their views, data, and
arguments with respect to the issues
identified above, as well as any other
concerns they may have with the
proposed rule change, as modified by
Amendment No. 1. In particular, the
Commission invites the written views of
interested persons concerning whether
the proposed rule change, as modified
by Amendment No. 1, is consistent with
Section 15A(b)(6) of the Exchange Act,
or any other provision of the Exchange
Act, rules, and regulations thereunder.
Although there do not appear to be any
issues relevant to approval or
disapproval that would be facilitated by
an oral presentation of views, data, and
arguments, the Commission will
consider, pursuant to Rule 19b–4, any
request for an opportunity to make an
oral presentation.44
Interested persons are invited to
submit written data, views, and
arguments regarding whether the
proposed rule change, as modified by
Amendment No. 1, should be approved
or disapproved by August 3, 2020. Any
person who wishes to file a rebuttal to
any other person’s submission must file
that rebuttal by August 7, 2020.
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
• Send an email to rule-comments@
sec.gov. Please include File No. SR–
FINRA–2020–011 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 No.
SR–FINRA–2020–011. This file number
should be included on the subject line
43 15

U.S.C. 78s(b)(2)(B).
19(b)(2) of the Exchange Act, as
amended by the Securities Acts Amendments of
1975, Public Law 94–29, 89 Stat. 97 (1975), grants
the Commission flexibility to determine what type
of proceeding—either oral or notice and
opportunity for written comments—is appropriate
for consideration of a particular proposed rule
change by a self-regulatory organization. See
Securities Acts Amendments of 1975, Report of the
Senate Committee on Banking, Housing and Urban
Affairs to Accompany S. 249, S. Rep. No. 75, 94th
Cong., 1st Sess. 30 (1975).

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44 Section

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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, as modified by Amendment No.
1, that are filed with the Commission,
and all written communications relating
to the proposed rule change, as
modified by Amendment No. 1, 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 such
filing also will be available for
inspection and copying at the principal
office of FINRA. 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 No. SR–FINRA–
2020–011 and should be submitted on
or before August 3, 2020. Rebuttal
comments should be submitted by
August 7, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.45
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–15450 Filed 7–16–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–154, OMB Control No.
3235–0122]

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 17a–10
45 17 CFR 200.30–3(a)(12); 17 CFR 200.30–
3(a)(57).

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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’’) is soliciting comments
on the existing collection of information
provided for in Rule 17a–10, Report of
Revenue and Expenses (17 CFR
240.17a–10), 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.
The primary purpose of Rule 17a–10
is to obtain the economic and statistical
data necessary for an ongoing analysis
of the securities industry. Paragraph
(a)(1) of Rule 17a–10 generally requires
broker-dealers that are exempted from
the requirement to file monthly and
quarterly reports pursuant to paragraph
(a) of Exchange Act Rule 17a–5 (17 CFR
240.17a–5) to file with the Commission
the Facing Page, a Statement of Income
(Loss), and balance sheet from Part IIA
of Form X–17A–5 1 (17 CFR 249.617),
and Schedule I of Form X–17A–5 not
later than 17 business days after the end
of each calendar year.
Paragraph (a)(2) of Rule 17a–10
requires a broker-dealer subject to Rule
17a–5(a) to submit Schedule I of Form
X–17A–5 with its Form X–17A–5 for the
calendar quarter ending December 31 of
each year. The burden associated with
filing Schedule I of Form X–17A–5 is
accounted for in the PRA filing
associated with Rule 17a–5.
Paragraph (b) of Rule 17a–10 provides
that the provisions of paragraph (a) do
not apply to members of national
securities exchanges or registered
national securities associations that
maintain records containing the
information required by Form X–17A–5
and which transmit to the Commission
copies of the records pursuant to a plan
which has been declared effective by the
Commission.
The Commission staff estimates that
approximately 46 broker-dealers will
spend an average of 12 hours per year
complying with Rule 17a–10. Thus, the
total compliance burden is estimated to
be approximately 552 hours per year.
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
1 Form X–17A–5 is the Financial and Operational
Combined Uniform Single Report (‘‘FOCUS
Report’’), which is used by broker-dealers to
provide certain required information to the
Commission.

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Federal Register / Vol. 85, No. 138 / Friday, July 17, 2020 / Notices
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.
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: July 13, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[[Release No. 34–89301; File No. SR–
EMERALD–2020–06]

Self-Regulatory Organizations; MIAX
Emerald, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fee
Schedule
July 13, 2020

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Pursuant to the provisions of Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on June 30, 2020, MIAX Emerald, LLC
(‘‘MIAX Emerald’’ or ‘‘Exchange’’), filed
with the Securities and Exchange
Commission (‘‘Commission’’) a
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend the MIAX Emerald Fee Schedule
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.

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II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change

[FR Doc. 2020–15434 Filed 7–16–20; 8:45 am]

1 15

(the ‘‘Fee Schedule’’) to make minor,
non-substantive edits and clarifying
changes.
The text of the proposed rule change
is available on the Exchange’s website at
http://www.miaxoptions.com/rulefilings/emerald, at MIAX’s principal
office, and at the Commission’s Public
Reference Room.

1. Purpose
The Exchange proposes to amend the
Fee Schedule to make minor, nonsubstantive edits and clarifying changes
to delete references in the Fee Schedule
to the ‘‘Penny Pilot’’ and replace those
references throughout the Fee Schedule
with ‘‘Penny Program.’’
On May 29, 2020, the Exchange filed
a proposal to, among other things,
conform its rules to Section 3.1 of the
Plan for the Purpose of Developing and
Implementing Procedures Designed to
Facilitate the Listing and Trading of
Standardized Options (the ‘‘OLPP’’).3
With that filing, the Exchange, along
with all other options exchanges,
adopted rule text to codify the OLPP
Program in new Exchange Rule 510(b)
(Requirements for Penny Interval
Program) (the ‘‘Penny Program’’), which
replaced the Penny Pilot and
permanently permits the Exchange to
quote certain option classes in
minimum increments of one cent
($0.01) and five cents ($0.05).
Accordingly, the Exchange now
3 See Securities Exchange Act Release Nos. 88993
(June 2, 2020), 85 FR 35145 (June 8, 2020) (SR–
EMERALD–2020–05) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
To Amend Exchange Rule 404, Series of Option
Contracts Open for Trading, Exchange Rule 510,
Minimum Price Variations and Minimum Trading
Increments, and Exchange Rule 516, Order Types
Defined, To Conform the Rules to Section 3.1 of the
Plan for the Purpose of Developing and
Implementing Procedures Designed To Facilitate
the Listing and Trading of Standardized Options).

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43631

proposes to delete references in the Fee
Schedule to the ‘‘Penny Pilot’’ and
replace those references throughout the
Fee Schedule with ‘‘Penny Program.’’
The Penny Program is set to become
operative on July 1, 2020. The proposed
changes would be to references to
‘‘Penny Pilot’’ in Section 1)b) of the Fee
Schedule. The Exchange does not
propose to amend or change any of its
fees. The purpose of these changes is to
provide uniformity between the
Exchange’s rules and the Fee Schedule.
The proposed changes to the Fee
Schedule would become operative on
July 1, 2020, upon the expiration of the
Penny Pilot, in accordance with the
Penny Program becoming operational.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the Act
and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 5 requirements that the rules of
an exchange be designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 6 requirement that
the rules of an exchange not be designed
to permit unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange believes the proposed
changes promote just and equitable
principles of trade and remove
impediments to and perfect the
mechanism of a free and open market
and a national market system because
the proposed changes make clarifying,
non-substantive edits to the Fee
Schedule, and conform the Fee
Schedule to the Exchange’s rulebook.
The Exchange believes that these
proposed changes will provide greater
clarity to Members and the public
regarding the Exchange’s Fee Schedule
and that it is in the public interest for
the Fee Schedule to be accurate and
4 15
5 15

U.S.C. 78f(b).
U.S.C. 78f(b)(5).

6 Id.

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