30 Day Notice

Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / Notices
grounds for possible disapproval under
consideration:
• Whether the Exchange has
demonstrated how its proposal is
consistent with Section 6(b)(5) of the
Act,39 which requires the rules of CBOE
to not be ‘‘designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.’’
• Whether the Exchange has
demonstrated how its proposal is
consistent with Section 6(b)(8) of the
Act,40 which requires that the rules of
CBOE not impose any burden on
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act.
Under the Commission’s Rules of
Practice, the ‘‘burden to demonstrate
that a proposed rule change is rule
change is consistent with the [Act] and
the rules and regulations issued
thereunder . . . is on the [SRO] that
proposed the rule change.’’ 41 The
description of a proposed rule change,
its purpose and operation, its effect, and
a legal analysis of its consistency with
applicable requirements must all be
sufficiently detailed and specific to
support an affirmative Commission
finding,42 and any failure of an SRO to
provide this information may result in
the Commission not having a sufficient
basis to make an affirmative finding that
a proposed rule change is consistent
with the Act and the applicable rules
and regulations.43 Moreover,
‘‘unquestioning reliance’’ on an SRO’s
representations in a proposed rule
change would not be sufficient to justify
Commission approval of a proposed rule
change.44
For the reasons discussed above, the
Commission believes it is appropriate to
institute proceedings pursuant to
Section 19(b)(2)(B) of the Act to allow
for additional consideration of the
issues raised by the proposal as it
determines whether the proposal should
be approved or disapproved.
IV. Procedure: Request for Written
Comments
The Commission requests that
interested persons provide written
submissions of their views, data, and
arguments with respect to the concerns
identified above, as well as any others

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39 15

U.S.C. 78f(b)(5).
U.S.C. 78f(b)(8).
41 Rule 700(b)(3), Commission Rules of Practice,
17 CFR 201.700(b)(3).
42 See id.
43 See id.
44 See Susquehanna Int’l Group, LLP v. Securities
and Exchange Commission, 866 F.3d 442, 446–47
(DC Cir. 2017) (rejecting the Commission’s reliance
on an SRO’s own determinations without sufficient
evidence of the basis for such determinations).
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they may have with the proposal. In
particular, the Commission invites the
written views of interested persons
concerning whether the proposed rule
change, as modified by Amendment No.
2, is inconsistent with Section 6(b)(5) 45
or any other provision of the Act, or the
rules and regulation 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 under
the Act, any request for an opportunity
to make an oral presentation.46
Interested persons are invited to
submit written data, views, and
arguments regarding whether the
proposed rule change, as modified by
Amendment No. 2, should be approved
or disapproved by October 16, 2020.
Any person who wishes to file a rebuttal
to any other person’s submission must
file that rebuttal by October 30, 2020.
The Commission asks that
commenters address the sufficiency and
merit of the Exchange’s statements in
support of the proposed rule change, in
addition to any other comments they
may wish to submit about the proposed
rule change. In particular, the
Commission seeks comment on the
statements of the Exchange contained in
Amendment No. 2,47 and any other
issues raised by the proposed rule
change.
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 Number SR–
CBOE–2020–055 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
Number SR–CBOE–2020–055. This file
number should be included on the
subject line if email is used. To help the
45 15

U.S.C. 78f(b)(5).
46 Section 19(b)(2) of the Act, as amended by the
Securities Act Amendments of 1975, Public Law
94–29 (June 4, 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 proposal by a self-regulatory
organization. See Securities Act Amendments of
1975, Senate Comm. on Banking, Housing & Urban
Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30
(1975).
47 See Amendment No. 2, supra note 6.

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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 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–2020–055 and
should be submitted by October 16,
2020. Rebuttal comments should be
submitted by October 30, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.48
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–21142 Filed 9–24–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0625; SEC File No.
270–563]

Submission for OMB Review;
Comment Request; Rule 17g–1 and
Form NRSRO 30 Day Notice 2020;
Extension
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’’) 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 17g–1, Form NRSRO and
48 17

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CFR 200.30–3(a)(57) and (58).

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60508

Federal Register / Vol. 85, No. 187 / Friday, September 25, 2020 / Notices

Instructions to Form NRSRO under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).1
Rule 17g–1, Form NRSRO and the
Instructions to Form NRSRO contain
certain recordkeeping and disclosure
requirements for NRSROs. Currently,
there are 9 credit rating agencies
registered as NRSROs with the
Commission. Based on staff experience,
the Commission estimates that the
revised ongoing annual burden for
respondents to comply with Rule 17g–
1 and Form NRSRO remains at 275
hours, but with a decrease in industry
total hours to 2,475 hours, reflecting the
decrease in registered entities. In
addition, the Commission estimates an
industry-wide annual external cost to
NRSROs of $3,600 to comply with the
requirements.
An agency may not conduct or
sponsor a collection of information
unless it displays a currently valid OMB
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a 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]. Upon
Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736.
Dated: September 22, 2020.
J. Matthew DeLesDenier,
Assistant Secretary.
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[FR Doc. 2020–21245 Filed 9–24–20; 8:45 am]
BILLING CODE 8011–01–P

1 See

17 CFR 240.17g–1 and 17 CFR 249b.300.

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SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0628, SEC File No.
270–564]

Rule 17g–2 30 Day Notice 2020—
Submission for OMB Review;
Comment Request
Extension:
Rule 17g–2

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’’) 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 17g–2 (17 CFR 240.17g–2) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) (‘‘Exchange Act’’).
Rule 17g–2, ‘‘Records to be made and
retained by nationally recognized
statistical rating organizations,’’
implements the Commission’s
recordkeeping rulemaking authority
under Section 17(a) of the Exchange
Act.1 The rule requires a Nationally
Recognized Statistical Rating
Organization (‘‘NRSRO’’) to make and
retain certain records relating to its
business and to retain certain other
business records, if such records are
made. The rule also prescribes the time
periods and manner in which all these
records must be retained. There are 9
credit rating agencies registered with the
Commission as NRSROs under section
15E of the Exchange Act, which have
already established the record keeping
policies and procedures required by
Rule 17g–2. Based on staff experience,
NRSROs are estimated to spend a total
industry-wide burden of 2,151 annual
hours to make and retain the
appropriate records.
An agency may not conduct or
sponsor a collection of information
unless it displays a currently valid OMB
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
. 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
1 15

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within 30 days of publication of this
notice to (i) 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].
Upon Written Request, Copies
Available From: Securities and
Exchange Commission, Office of FOIA
Services, 100 F Street NE, Washington,
DC 20549–2736.
Dated: September 22, 2020.
J. Matthew DeLesDenier,
Assistant Secretary.
[FR Doc. 2020–21252 Filed 9–24–20; 8:45 am]
BILLING CODE 8011–01–P

SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments
60-Day notice and request for
comments.

ACTION:

The Small Business
Administration (SBA) plans to seek
approval, from the Office of
Management and Budget (OMB) to
conduct the data collection activities
described below. The Paperwork
Reduction Act requires federal agencies
to publish a notice in the Federal
Register concerning each proposed
collection of information to OMB, and
to allow 60 days for the public to
comment in response to the notice. This
notice complies with such requirements
and announces the SBA’s proposal to
conduct a survey of small businesses
and lenders who participated in the
SBA’s Microloan program.
DATES: Submit comments on or before
November 20, 2020.
ADDRESSES: Send all comments to Shay
Meinzer, Lead Program Evaluator, Office
of Program Performance, Analysis, and
Evaluation, Small Business
Administration, 409 3rd Street, 5th
Floor, Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
Shay Meinzer, Lead Program Evaluator,
Office of Program Performance,
Analysis, and Evaluation, Small
Business Administration,
[email protected], 202–539–1429,
or Curtis B. Rich, Management Analyst,
202–205–7030, [email protected].
SUPPLEMENTARY INFORMATION: This is a
request for the collection of new
information.
The purpose of the Microloan
Program is to assist women, low
income, veteran, and minority
entrepreneurs, and other small
SUMMARY:

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