60 Day Notice

Federal Register / Vol. 85, No. 141 / Wednesday, July 22, 2020 / Notices
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–NASDAQ–2020–037, and
should be submitted on or before
August 12, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–15792 Filed 7–21–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213

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Extension:
Rule 17g–1and Form NRSRO SEC File No.
270–563, OMB Control No. 3235–0625

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 17g-1, Form
NRSRO and Instructions to Form
NRSRO under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.).1 The
Commission plans to submit this
existing collection of information to the
Office of Management and Budget for
extension and approval.
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. The Commission estimates
that the total burden for respondents to
comply with Rule 17g-1 and Form
NRSRO is 4,160 hours, which includes
one-time reporting burdens for new
registration applications, registration for
additional categories of credit ratings,
withdrawals of NRSRO applications,
and withdrawals of NRSRO registration.
20 17
1 See

CFR 200.30–3(a)(12).
17 CFR 240.17g-1 and 17 CFR 249b.300.

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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
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; 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.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
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 Office of Management and
Budget (OMB) control number.
Please direct your written comments
to: Dave Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F St. NE, Washington, DC
20549 or send an email to: PRA_
[email protected].
Dated: July 16, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–15800 Filed 7–21–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
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 0–2, Form ADV–NR SEC File
No. 270–214, OMB Control No. 3235–
0240

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 a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Rule 0–2 and Form

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ADV–NR under the Investment Advisers
Act of 1940.’’ Rule 0–2 and Form ADV–
NR facilitate service of process on a
non-resident investment adviser, or on a
non-resident general partner or nonresident managing agent of an
investment adviser. Form ADV–NR
designates the Secretary of the
Commission, among others, as the nonresident general partner’s or nonresident managing agent’s agent for
service of process. The collection of
information is necessary for us to obtain
appropriate consent to permit the
Commission and other parties to bring
actions against non-resident partners
and agents for violations of the federal
securities laws and to enable the
commencement of legal and/or
regulatory actions against investment
advisers that are doing business in the
United States, but are not residents. The
respondents to this information
collection would be each non-resident
general partner or non-resident
managing agent of an SEC-registered
investment adviser and each nonresident general partner or non-resident
managing agent of an exempt reporting
adviser. The Commission has estimated
that compliance with the requirement to
complete Form ADV–NR imposes a total
burden of approximately 1.0 hour for an
adviser. Based on our experience with
these filings, we estimate that we will
receive 53 Form ADV–NR filings
annually. Based on the 1.0 hour per
respondent estimate, the Commission
staff estimates a total annual burden of
53 hours for this collection of
information.
Rule 0–2 and Form ADV–NR do not
require recordkeeping or records
retention. The collection of information
requirements under the rule and form is
mandatory. The information collected
pursuant to Rule 0–2 and Form ADV–
NR is a filing with the Commission.
This filing is not kept confidential and
must be preserved until at least three
years after termination of the enterprise.
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.
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,

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Federal Register / Vol. 85, No. 141 / Wednesday, July 22, 2020 / Notices

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: July 16, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–15796 Filed 7–21–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89328; File No. SR–BOX–
2020–14]

Self-Regulatory Organizations; BOX
Exchange LLC; Notice of Designation
of Longer Period for Commission
Action on a Proposed Rule Change 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

The Commission hereby is extending
the 45-day time period for Commission
action on the proposed rule change. The
Commission finds that it is appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider the proposed rule change.
Accordingly, pursuant to Section
19(b)(2) of the Act,5 the Commission
designates August 30, 2020, as the date
by which the Commission shall either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–BOX–2020–14).

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.

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
J. Matthew DeLesDernier,
Assistant Secretary.

A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change

[FR Doc. 2020–15789 Filed 7–21–20; 8:45 am]
BILLING CODE 8011–01–P

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COMMISSION

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July 16, 2020.

On May 21, 2020, BOX Exchange LLC
(the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘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.
The proposed rule change was
published for comment in the Federal
Register on June 1, 2020.3 The
Commission has received one comment
letter on the proposed rule change.
Section 19(b)(2) of the Act 4 provides
that, within 45 days of the publication
of notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is July 16, 2020.
15 U.S.C. 78s(b)(1).
17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 88946
(May 26, 2020), 85 FR 33454.
4 15 U.S.C. 78s(b)(2).
1
2

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[Release No. 34–89330; File No. SR–BX–
2020–014]

Self-Regulatory Organizations; Nasdaq
BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend BX’s Routing
Functionality
July 16, 2020.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’), and Rule 19b–4 thereunder,
notice is hereby given that on July 2,
2020, Nasdaq BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the 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 proposes to amend
Options 5, Section 4, Order Routing.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/bx/rules, at the principal office
of the Exchange, and at the
Commission’s Public Reference Room.

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5
6

Id.
17 CFR 200.30–3(a)(31).

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1. Purpose
The Exchange proposes to amend
Options 5, Section 4, Order Routing, in
connection with a technology migration
to an enhanced Nasdaq, Inc. (‘‘Nasdaq’’)
functionality which results in higher
performance, scalability, and more
robust architecture. With this system
migration, the Exchange intends to
adopt certain trading functionality
currently utilized at Nasdaq Exchanges.
Specifically, the Exchange proposes to
conform BX Routing to Nasdaq Phlx
LLC’s (‘‘Phlx’’) routing rule at Options 5,
Section 4, Order Routing.
Today, BX offers the following order
types for routing: DNR Order, SEEK
Order and SRCH Order. A DNR Order
will never be routed outside of the
Exchange regardless of the prices
displayed by away markets. A SEEK
Order may route during and after an
Opening Process. Once the SEEK Order
rests on the Order Book, it will not be
eligible for routing until the next time
the option series is subject to a new
Opening Process. A SRCH Order may
route during and after an Opening
Process. A SRCH Order on the Order
Book may be routed to an away market
if it is locked or crossed by an away
market.
This proposal would amend BX Rules
to remove the SEEK routing option and,
instead, adopt the FIND Order routing
option, which is currently available on
Phlx. A FIND Order, similar to a SEEK
Order, will only attempt to route once
and then post to the Order Book. FIND
Orders that are not marketable with the
ABBO upon receipt, similar to SEEK
Orders, will be treated as DNR for the
remainder of the trading day and post to
the Order Book, and will not be subject
to routing even in the event that there
is a new Opening Process after a trading
halt. If a FIND Order was marketable

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