30 Day Notice

Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices
resulting in a total internal cost of
compliance for these respondents of
approximately $83,538 per year (1,326
hours at $63 per hour).
The total time burden for all
respondents under this rule (both
options markets and broker-dealers) is
approximately 1,710 hours per year (384
+ 1,326), and the total internal cost of
compliance is approximately $244,818
per year ($161,280 + $83,538).
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 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: March 2, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–04657 Filed 3–5–21; 8:45 am]

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91190A; File No. S7–24–
89]

Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of the Fiftieth Amendment to the Joint
Self-Regulatory Organization Plan
Governing the Collection,
Consolidation and Dissemination of
Quotation and Transaction Information
for Nasdaq-Listed Securities Traded on
Exchanges on an Unlisted Trading
Privileges Basis; Correction
March 3, 2021.

Securities and Exchange
Commission.
ACTION: Notice; correction.
AGENCY:

The Securities and Exchange
Commission published a document in
the Federal Register on March 1, 2021,
concerning a Notice of Filing and
Immediate Effectiveness of the Fiftieth
Amendment to the Joint Self-Regulatory
Organization Plan. The document
header contained a typographical error.
FOR FURTHER INFORMATION CONTACT: Mia
Zur, Division of Trading and Markets,
Securities and Exchange Commission,
100 F Street NE, Washington, DC 20549,
(202) 551–3088.
SUMMARY:

Correction
In the Federal Register of March 1,
2021 in FR Doc. 2021–04089, on page
12045, in the heading ‘‘Joint Industry
Plan; Notice of Filing and Immediate
Effectiveness of the Fiftieth Amendment
to the Joint Self-Regulatory Organization
Plan Governing the Collection,
Consolidation and Dissemination of
Quotation and Transaction Information
to Nasdaq-Listed Securities Traded on
Exchanges on an Unlisted Trading
Privileges Basis’’ remove ‘‘and
Immediate Effectiveness’’ from the
heading.
J. Matthew DeLesDernier,
Assistant Secretary.

BILLING CODE 8011–01–P

[FR Doc. 2021–04712 Filed 3–5–21; 8:45 am]
BILLING CODE 8011–01–P

jbell on DSKJLSW7X2PROD with NOTICES

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–361, OMB Control No.
3235–0411]

Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,

VerDate Sep<11>2014

19:05 Mar 05, 2021

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100 F Street NE, Washington, DC
20549–2736
Extension:
Rule 489 and Form F–N

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘Paperwork
Reduction Act’’), the Securities and
Exchange Commission (the
‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for extension of the
previously approved collection of
information discussed below.
Rule 489 (17 CFR 230.489) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) requires foreign banks and foreign
insurance companies and holding
companies and finance subsidiaries of
foreign banks and foreign insurance
companies that are exempted from the
definition of ‘‘investment company’’ by
virtue of rules 3a–1 (17 CFR 270.3a–1),
3a–5 (17 CFR 270.3a–5), and 3a–6 (17
CFR 270.3a–6) under the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) to file Form F–N (17 CFR
239.43) to appoint an agent for service
of process when making a public
offering of securities in the United
States. The information is collected so
that the Commission and private
plaintiffs may serve process on foreign
entities in actions and administrative
proceedings arising out of or based on
the offer or sales of securities in the
United States by such foreign entities.
The Commission received an average
of 27 Form F–N filings from 18 unique
filers each year for the last three years
(2017–2019). The Commission has
previously estimated that the total
annual burden associated with
information collection and Form F–N
preparation and submission is one hour
per filing. Based on the Commission’s
experience with disclosure documents
generally, the Commission continues to
believe that this estimate is appropriate.
Thus the estimated total annual burden
for rule 489 and Form F–N is 27 hours.1
Estimates of the average burden hours
are made solely for the purposes of the
Paperwork Reduction Act and are not
derived from a comprehensive or even
a representative survey or study of the
costs of Commission rules and forms.
Compliance with the collection of
information requirements of rule 489
and Form F–N is mandatory to obtain
the benefit of the exemption. Responses
to the collection of information will not
be kept confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
1 27 responses per year × 1 hour per response =
27 hours per year.

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13412

Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices

information 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: March 2, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–04656 Filed 3–5–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91239; File No. SR–
CboeBZX–2021–017]

Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposal To Permit the Exchange To
Look Back Only to July 2020 To
Correct Certain Billing Errors Which
Were Discovered in October 2020

jbell on DSKJLSW7X2PROD with NOTICES

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
18, 2021, Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(6) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.

1. Purpose
The Exchange recently amended its
equities and options fees schedules to
adopt a provision relating to billing
errors and fee disputes.5 Specifically,
the Exchange adopted a provision that
provides that all fees and rebates
assessed prior to the three full calendar
months before the month in which the
Exchange becomes aware of a billing
error shall be considered final.
Particularly, the Exchange will resolve
an error by crediting or debiting
Members and Non-Members based on
the fees or rebates that should have been
applied in the three full calendar
months preceding the month in which
the Exchange became aware of the error,
including to all impacted transactions
that occurred during those months.6 The
5 See Securities Exchange Act Release No. 90897
(January 11, 2021), 86 FR 4161 (January 15, 2021)
(SR–CboeBZX–2020–094).
6 For example, if the Exchange becomes aware of
a transaction fee billing error on February 4, 2021,
the Exchange will resolve the error by crediting or

1 15

U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).

19:05 Mar 05, 2021

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

March 2, 2021.

VerDate Sep<11>2014

I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe BZX Exchange, Inc. (‘‘BZX’’ or
the ‘‘Exchange’’) is filing with the
Securities and Exchange Commission
(the ‘‘Commission’’) a proposal to
permit the Exchange to look back only
to July 2020 to correct certain billing
errors which were discovered in
October 2020. This rule change does not
provide for any modifications to the text
of the Exchange’s rules or fees schedule.
The text of the proposal is also
available on the Exchange’s website
(http://markets.cboe.com/us/equities/
regulation/rule_filings/bzx/), at the
Exchange’s Office of the Secretary, and
at the Commission’s Public Reference
Room.

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Exchange will apply the three month
look back regardless of whether the
error was discovered by the Exchange or
by a Member or Non-Member that
submitted a fee dispute to the Exchange.
The Exchange’s fees schedules also
provide that all disputes concerning fees
and rebates assessed by the Exchange
would have to be submitted to the
Exchange in writing and accompanied
by supporting documentation. The
purpose of this policy is to provide both
the Exchange and Members and NonMembers subject to the Exchange’s fee
schedule finality and the ability to close
their books after a known period of
time. The Exchange further notes that
several other exchanges have adopted
similar provisions in their rules.7
The Exchange proposes to apply the
recently adopted billing policy to
transactions impacted by billing errors
that were discovered in October 2020.
Particularly, in October 2020, the
Exchange identified a billing error
relating to certain fee codes. As a result
of the discovery, the Exchange
conducted a review of additional fee
code configurations, which review was
only recently completed. The review
resulted in the discovery of additional
billing errors relating to Exchange fee
codes. These errors, along with the
original error discovered in October
2020, resulted in various Members being
over-rebated or under-billed, and to a
lesser extent over-billed, over the course
of several years. In the absence of
applying the recently adopted billing
policy to transactions impacted by the
October 2020 billing errors, the
Exchange would be required to credit or
debit Members based on the fees or
rebates that should have been applied to
all impacted transactions, regardless of
how far back the transactions occurred
(which as noted above, is several years).
If the Exchange were permitted to apply
the current rule language to the billing
errors discovered in October 2020
however, then the Exchange could limit
its look back in correcting those errors
to only those transactions that occurred
debiting Members based on the fees or rebates that
should have been applied to any impacted
transactions during November, 2020, December
2020 and January 2021. The Exchange notes that
because it bills in arrears, the Exchange would be
able to correct the error in advance of issuing the
February 2021 invoice and therefore, transactions
impacted through the date of discovery (in this
example, February 4, 2021) and thereafter, would be
billed correctly.
7 See e.g., Securities Exchange Act Release No.
87650 (December 3, 2019), 84 FR 67304 (December
9, 2019) (SR–NYSECHX–2019–024); Securities
Exchange Act Release No. 84430 (October 16, 2018),
83 FR 53347 (October 22, 2018) (SR–NYSENAT–
2018–23); and Securities Exchange Act Release No.
79060 (October 6, 2016), 81 FR 70716 (October 13,
2016) (SR–ISEGemini–2016–11).

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