60 Day Notice

Federal Register / Vol. 85, No. 217 / Monday, November 9, 2020 / Notices
filing also will be available for
inspection and copying at the principal
office of FICC and on DTCC’s website
(http://dtcc.com/legal/sec-rulefilings.aspx). 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–FICC–
2020–012 and should be submitted on
or before November 30, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.41
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–24785 Filed 11–6–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION

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[Release No. 34–90329; File No. SR–
NYSENAT–2020–28]

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 November 6,
2020. The Commission is extending this
45-day time period.
The Commission finds it 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, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates December 21, 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–NYSENAT–
2020–28).

Self-Regulatory Organizations; NYSE
National, Inc.; Notice of Designation of
a Longer Period for Commission
Action on a Proposed Rule Change To
Amend the Exchange’s Co-Location
Services To Establish Procedures for
the Allocation of Cabinets to Its CoLocated Users

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

November 3, 2020.

SECURITIES AND EXCHANGE
COMMISSION

On September 2, 2020, NYSE
National, Inc., (‘‘NYSE National’’ or
‘‘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
establish procedures as part of the
Exchange’s co-location rules to allocate
cabinets to its co-located users in
situations where the Exchange cannot
satisfy the user demand for cabinets.
The proposed rule change was
published for comment in the Federal
Register on September 22, 2020.3 The
Commission received no comments 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
41 17

CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release Nos. 89884
(September 16, 2020), 85 FR 59576 (SR–NYSENAT–
2020–28).
4 15 U.S.C. 78s(b)(2).
1 15

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[FR Doc. 2020–24791 Filed 11–6–20; 8:45 am]
BILLING CODE 8011–01–P

[SEC File No. 270–184, OMB Control No.
3235–0236]

Proposed Collection; Comment
Request
Extension:
Form N–54C

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 (the
‘‘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.
Certain investment companies can
elect to be regulated as business
development companies, as defined in
section 2(a)(48) of the Investment
Company Act of 1940 (‘‘Investment
Company Act’’), under sections 55
5 Id.
6 17

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CFR 200.30–3(a)(31).

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71381

through 65 of the Investment Company
Act. Under section 54(a) of the
Investment Company Act,1 any
company defined in section 2(a)(48)(A)
and (B) of the Investment Company Act
may, if it meets certain enumerated
eligibility requirements, elect to be
subject to the provisions of Sections 55
through 65 of the Investment Company
Act by filing with the Commission a
notification of election. Under section
54(c) of the Investment Company Act,2
any business development company
may voluntarily withdraw its election
under section 54(a) of the Investment
Company Act by filing a notice of
withdrawal of election with the
Commission. The Commission has
adopted Form N–54C as the form for the
notification of withdrawal of election to
be subject to Sections 55 through 65 of
the Investment Company Act. The
purpose of Form N–54C is to notify the
Commission that the business
development company withdraws its
election to be subject to Sections 55
through 65 of the Investment Company
Act.
The Commission estimates that on
average approximately eight business
development companies file
notifications on Form N–54C each year.
Each of those business development
companies need only make a single
filing of Form N–54C. The Commission
further estimates that this information
collection imposes a burden of one
hour, resulting in a total annual burden
of eight hours. Based on the estimated
wage rate, the total cost to the business
development company industry of the
hour burden for complying with Form
N–54C would be approximately $2,944.3
The Commission also estimates that cost
burden for outside professionals
associated with the filing of Form N–
54C increased to $560 because the
Commission believes that filers use
third-party vendors to comply with this
requirement.
The collection of information under
Form N–54C is mandatory. The
information provided by the form is not
kept confidential. An agency may not
1 15

U.S.C. 80a–53(a).
U.S.C. 80a–53(c).
3 The industry burden is calculated by
multiplying the total annual hour burden to prepare
Form N–54C (eight) by the estimated hourly wage
rate of $368 for a compliance attorney or other
similarly situated business development company
employee. The estimated wage figure is based on
published rates for compliance attorneys from the
Securities Industry and Financial Markets
Association’s Report on Management & Professional
Earnings in the Securities Industry 2013, modified
by Commission staff to account for an 1,800 hour
work-year and inflation, and multiplied by 5.35 to
account for bonuses, firm size, employee benefits
and overhead, yielding an effective hourly rate of
$2,944.
2 15

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Federal Register / Vol. 85, No. 217 / Monday, November 9, 2020 / Notices

conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid OMB control number.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
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 of 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.
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: November 4, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–24844 Filed 11–6–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–824; OMB Control No.
3235–0500]

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

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Extension:
Rule 608

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 608 (17 CFR 242.608) under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 608 specifies procedures for
filing or amending national market
system plans (‘‘NMS Plans’’). Selfregulatory organizations (‘‘SROs’’) filing

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a new NMS Plan must submit the text
of the NMS Plan to the Commission,
along with a statement of purpose, and,
if applicable, specified supporting
materials that may include: (1) A copy
of all governing or constituent
documents, (2) a description of the
manner in which the NMS Plan, and
any facility or procedure contemplated
by the NMS Plan, will be implemented,
(3) a listing of all significant phases of
development and implementation
contemplated by the NMS Plan,
including a projected completion date
for each phase, (4) an analysis of the
competitive impact of implementing the
NMS Plan, (5) a description of any
written agreements or understandings
between or among plan participants or
sponsors relating to interpretations of
the NMS Plan or conditions for
becoming a plan participant or sponsor,
and (6) a description of the manner in
which any facility contemplated by the
NMS Plan shall be operated.
Participants or sponsors to the NMS
Plan must ensure that a current and
complete version of the NMS Plan is
posted on a designated website or a plan
website after being notified by the
Commission that the NMS Plan is
effective. Each plan participant or
sponsor must also provide a link on its
own website to the current website to
the current version of the NMS Plan.
The Commission estimates that the
creation and submission of a new NMS
Plan and any related materials would
result in an average aggregate burden of
approximately 850 hours per year (25
SROs × 34 hours = 850 hours). The
Commission further estimates an
average aggregate burden of
approximately 125 hours per year (25
SROs × 5 hours = 125 hours), for each
of the SROs to keep a current and
complete version of the NMS Plan
posted on a designated website or a plan
website, and to provide a link to the
current version of the NMS Plan on its
own website. In addition, the
Commission estimates that the creation
of a new NMS Plan and any related
materials would result in an average
aggregate cost of approximately
$150,000 per year (25 SROs × $6,000 =
$150,000).
SROs proposing to amend an existing
NMS Plan must submit the text of the
amendment to the Commission, along
with a statement of purpose, and, if
applicable, the supporting materials
described above, as well as a statement
that the amendment has been approved
by the plan participants or sponsors in
accordance with the terms of the NMS
Plan. Participants or sponsors to the
NMS Plan must ensure that any
proposed amendments are posted to a

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designated website or a plan website
after filing the amendments with the
Commission and that those websites are
updated to reflect the current status of
the amendment and the NMS Plan. Each
plan participant or sponsor must also
provide a link on its own website to the
current version of the NMS Plan. The
Commission estimates that the creation
and submission of NMS Plan
amendments and any related materials
would result in an average aggregate
burden of approximately 11,050 hours
per year (25 SROs × 442 hours = 11,050
hours). The Commission further
estimates an average aggregate burden of
approximately 124 hours per year (25
SROs × 4.94 hours = 123.5 hours
rounded up to 124) for SROs to post any
pending NMS Plan amendments to a
designated website or a plan website
and to update such websites to reflect
the current status of the amendment and
the NMS Plan. In addition, the
Commission estimates that the creation
of a NMS Plan amendment and any
related materials would result in an
average aggregate cost of approximately
$325,000 per year (25 SROs × $13,000
= $325,000).
Finally, to the extent that a plan
processor is required for any facility
contemplated by a NMS Plan, the plan
participants or sponsors must file with
the Commission a statement identifying
the plan processor selected, describing
the material terms under which the plan
processor is to serve, and indicating the
solicitation efforts, if any, for alternative
plan processors, the alternatives
considered, and the reasons for the
selection of the plan processor. The
Commission estimates that the
preparation and materials related to the
selection of a plan processor would
result in an average aggregate burden of
approximately 283 hours per year (25
SROs × 11.33 hours = 283.33 rounded
down to 233). In addition, the
Commission estimates that the
preparation and submission of materials
related to the selection of a plan
processor would result in an average
aggregate cost of approximately $8,333
per year (25 SROs × $333.33 = $8,333.33
rounded down to $8,333).
The above estimates result in a total
annual industry burden of
approximately 12,432 hours (850 + 125
+ 11,050 + 124 + 283) and a total annual
industry cost of approximately $483,333
($150,000 + $325,000 + $8,333).
Compliance with Rule 608 is
mandatory. The text of the NMS Plans
and any amendments will not be
confidential, but published on a
designated website or a plan website. To
the extent that Rule 608 requires the
SROs to submit confidential information

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