30 Day Notice

Federal Register / Vol. 85, No. 231 / Tuesday, December 1, 2020 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–420, OMB Control No.
3235–0479]

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

khammond on DSKJM1Z7X2PROD with NOTICES4

Extension:
Rule 15c2–7

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 15c2–7 (17 CFR 240.15c2–7) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 15c2–7 places disclosure
requirements on broker-dealers who
have correspondent relationships, or
agreements identified in the rule, with
other broker-dealers. Whenever any
such broker-dealer enters a quotation for
a security through an inter-dealer
quotation system, Rule 15c2–7 requires
the broker-dealer to disclose these
relationships and agreements in the
manner required by the rule. The interdealer quotation system must also be
able to make these disclosures public in
association with the quotation the
broker-dealer is making.
When Rule 15c2–7 was adopted in
1964, the information it requires was
necessary for execution of the
Commission’s mandate under the
Securities Exchange Act of 1934 to
prevent fraudulent, manipulative and
deceptive acts by broker-dealers. In the
absence of the information collection
required under Rule 15c2–7, investors
and broker-dealers would have been
unable to accurately determine the
market depth of, and demand for,
securities in an inter-dealer quotation
system.
There are approximately 3,647 brokerdealers registered with the Commission.
Any of these broker-dealers could be
potential respondents for Rule 15c2–7,
so the Commission is using that number
as the number of respondents. Rule
15c2–7 applies only to quotations
entered into an inter-dealer quotation
system, such as the OTC Bulletin Board
(‘‘OTCBB’’) or OTC Link, operated by
OTC Markets Group Inc. (‘‘OTC Link’’)
or the electronic trading platform

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operated by Global OTC. According to
representatives of OTC Link, Global
OTC and the OTCBB, none of these
entities has recently received, or
anticipates receiving any Rule 15c2–7
notices. However, because such notices
could be made, the Commission
estimates that one filing is made
annually pursuant to Rule 15c2–7.
Based on prior industry reports, the
Commission estimates that the average
time required to enter a disclosure
pursuant to the rule is .75 minutes, or
45 seconds. The Commission sees no
reason to change this estimate. We
estimate that impacted respondents
spend a total of .0125 hours per year to
comply with the requirements of Rule
15c2–7 (1 notice (×) 45 seconds/notice).
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: November 25, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–26505 Filed 11–30–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90512; File No. SR–BOX–
2020–14]

Self-Regulatory Organizations; BOX
Exchange LLC; Notice of Designation
of Longer Period for Commission
Action on Proposed Rule Change, as
Modified by Amendment No. 1, To
Adopt Rules Governing the Trading of
Equity Securities on the Exchange
Through a Facility of the Exchange
Known as the Boston Security Token
Exchange LLC
November 24, 2020.

On May 21, 2020, BOX Exchange LLC
(‘‘Exchange’’ or ‘‘BOX’’) filed with the

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Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Exchange Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to adopt rules governing the
listing and trading of equity securities
that would be NMS stocks on the
Exchange through a facility of the
Exchange known as the Boston Security
Token Exchange LLC (‘‘BSTX’’). The
proposed rule change was published for
comment in the Federal Register on
June 1, 2020.3 On July 16, 2020,
pursuant to Section 19(b)(2) of the
Exchange Act,4 the Commission
designated a longer period within which
to either approve the proposed rule
change, disapprove the proposed rule
change, or institute proceedings to
determine whether to disapprove the
proposed rule change.5
On July 31, 2020, the Exchange filed
Amendment No. 1 to the proposed rule
change, which replaced and superseded
the proposed rule change as originally
filed.6 On August 12, 2020, the
Commission published the proposed
rule change, as modified by Amendment
No. 1, for notice and comment and
instituted proceedings to determine
whether to approve or disapprove the
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 88946
(May 26, 2020), 85 FR 33454 (June 1, 2020) (SR–
BOX–2020–14) (‘‘Original Notice’’). Comments
received on the proposed rule change are available
at: https://www.sec.gov/comments/sr-box-2020-14/
srbox202014.htm. In Amendment No. 1 to the
proposed rule change, infra note 6, the Exchange
stated that the proposed rule change was previously
filed with the Commission as the proposed rule
change SR–BOX–2019–19, which the Exchange
amended twice, and that the current proposed rule
change, SR–BOX–2020–14, is ‘‘substantively
identical’’ to the previously-filed proposed rule
change, SR–BOX–2019–19, as modified by
Amendment No. 2. SR–BOX–2019–19, as modified
by Amendment No. 2, was published for comment
in the Federal Register on March 6, 2020. See
Securities Exchange Act Release No. 88300
(February 28, 2020), 85 FR 13242 (March 6, 2020)
(Notice of Filing of Amendment No. 2 to Proposed
Rule Change). The Exchange withdrew proposed
rule change SR–BOX–2019–19 on May 12, 2020.
See Securities Exchange Act Release No. 89018
(June 4, 2020), 85 FR 35458 (June 10, 2020) (Notice
of Withdrawal of a Proposed Rule Change).
As applicable, the Commission will consider
comments submitted on SR–BOX–2019–19 and SR–
BOX–2020–14 in its review of SR–BOX–2020–14.
Comments on SR–BOX–2019–19 can be found at:
https://www.sec.gov/comments/sr-box-2019-19/
srbox201919.htm.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 89328
(July 16, 2020), 85 FR 44338 (July 22, 2020).
6 Amendment No. 1 is available on the
Commission’s website at: https://www.sec.gov/
comments/sr-box-2020-14/srbox202014-7570237222233.pdf.
2 17

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