60 day notice

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Federal Register / Vol. 83, No. 165 / Friday, August 24, 2018 / Notices

conduit funds would be approximately
30 minutes,4 at a cost of $201.5
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act, and is 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 the rule is
necessary to obtain the benefit of relying
on the rule. 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.
Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the Commission,
including whether the information has
practical utility; (b) the accuracy of the
Commission’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 after this
publication.
Please direct your written comments
to Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O Candace
Kenner, 100 F Street NE, Washington,
DC 20549; or send an email to: PRA_
[email protected].
Dated: August 21, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–18360 Filed 8–23–18; 8:45 am]

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BILLING CODE 8011–01–P

4 This estimate is based on the following
calculations: (1 hour ÷ 6 years) = 10 minutes per
year for each fund and conduit fund that is required
to provide notice under the rule. 10 minutes per
year × 3 (combined number of affected funds and
conduit funds) = 30 minutes.
5 This estimate is based on the following
calculation: $401/hour × 30 minutes = $200.50. The
estimated hourly wages used in this PRA analysis
were derived from reports prepared by the
Securities Industry and Financial Markets
Association, modified to account for an 1,800-hour
work year and multiplied by 5.35 to account for
bonuses, firm size, employee benefits and overhead,
and adjusted for inflation.

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must be submitted to OMB within 30
days of this notice.

Proposed Collection; Comment
Request

Dated: August 21, 2018.
Eduardo A. Aleman,
Assistant Secretary.

Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rule 17g–5; SEC File. No. 270–581, OMB
Control No. 3235–0649

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’’) 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–5
(17 CFR 240.17g–5) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’).
Rule 17g–5 requires the disclosure of
and establishment of procedures to
manage certain NRSRO conflicts of
interest, prohibits certain other NRSRO
conflicts of interest, and contains
requirements regarding the disclosure of
information in the case of the conflict of
interest of an NRSRO issuing or
maintaining a credit rating on an assetbacked security that was paid for by the
issuer, sponsor, or underwriter of the
security. The Commission previously
estimated that the total annual burden
for respondents to comply with Rule
17g–5 is 261,295 hours.
The Commission 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 Office of Management and
Budget (OMB) control number.
Background documentation for this
information collection may be viewed at
the following website: www.reginfo.gov.
Comments should be directed to: (i)
Desk Officer for the Securities and
Exchange Commission, Office of
Information and Regulatory Affairs,
Office of Management and Budget,
Room 10102, New Executive Office
Building, Washington, DC 20503, or by
sending an email to: Shagufta_Ahmed@
omb.eop.gov; and (ii) Pamela Dyson,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Candace Kenner, 100 F St NE,
Washington, DC 20549 or send an email
to: [email protected]. Comments

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SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; 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 17a–12/Form X–17A–5 Part IIB, SEC
File No. 270–442, OMB Control No.
3235–0498

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 17a–12 (17 CFR
240.17a–12) and Part IIB of Form X–
17A–5 (17 CFR 249.617) under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.). The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 17a–12 is the reporting rule
tailored specifically for over-the-counter
(‘‘OTC’’) derivatives dealers registered
with the Commission, and Part IIB of
Form X–17A–5, the Financial and
Operational Combined Uniform Single
(‘‘FOCUS’’) Report, is the basic
document for reporting the financial
and operational condition of OTC
derivatives dealers. Rule 17a–12
requires registered OTC derivatives
dealers to file Part IIB of the FOCUS
Report quarterly. Rule 17a–12 also
requires that OTC derivatives dealers
file audited financial statements
annually.
The reports required under Rule 17a–
12 provide the Commission with
information used to monitor the
operations of OTC derivatives dealers
and to enforce their compliance with
the Commission’s rules. These reports
also enable the Commission to review
the business activities of OTC
derivatives dealers and to anticipate,
where possible, how these dealers may
be affected by significant economic
events.

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Federal Register / Vol. 83, No. 165 / Friday, August 24, 2018 / Notices

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There are currently three registered
OTC derivatives dealers. The staff
expects that three additional firms will
register as OTC derivatives dealers
within the next three years. The staff
estimates that the average amount of
time necessary to prepare and file the
quarterly reports required by the rule is
eighty hours per OTC derivatives
dealer 1 and that the average amount of
time to prepare and file the annual audit
report is 100 hours per OTC derivatives
dealer per year, for a total reporting
burden of 180 hours per OTC
derivatives dealer annually. Thus the
staff estimates that the total industrywide reporting burden to comply with
the requirements of Rule 17a–12 is
1,080 hours per year (180 × 6). The
Commission estimates that the average
annual reporting cost per broker-dealer
for an independent public accountant to
examine the financial statements is
approximately $46,300 per brokerdealer. Thus, the total industry-wide
annual reporting cost is approximately
$277,800 ($46,300 × 6).
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
estimate of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be 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
unless it displays a currently valid OMB
control number.
Please direct your written comments
to: Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: August 21, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–18358 Filed 8–23–18; 8:45 am]
BILLING CODE 8011–01–P
1 Based upon an average of 4 responses per year
and an average of 20 hours spent preparing each
response.

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[Release No. 34–83890; File No. SR–
NYSEAMER–2018–42]

Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the
Independence Policy of the Board of
Directors of the Exchange
August 20, 2018.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
15, 2018, NYSE American LLC (the
‘‘Exchange’’ or ‘‘NYSE American’’) 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 selfregulatory organization. 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 the
Independence Policy of the Board of
Directors of the Exchange
(‘‘Independence Policy’’) by (a)
streamlining references to
Intercontinental Exchange, Inc. (‘‘ICE’’)
subsidiaries that are national securities
exchanges, (b) removing obsolete
references, and (c) adding references to
national securities exchange affiliates of
the Exchange. The proposed rule change
is available on the Exchange’s website at
www.nyse.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
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
self-regulatory organization 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 those 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 parts of such
statements.
1 15
2 17

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
Independence Policy by (a) streamlining
references to ICE subsidiaries that are
national securities exchanges, (b)
removing obsolete references, and (c)
adding references to national securities
exchange affiliates of the Exchange.
Definition of ‘‘Exchange’’
The Independence Policy includes
references to the Exchange and its
national securities exchange affiliates
New York Stock Exchange LLC
(‘‘NYSE’’) and NYSE Arca, Inc. (‘‘NYSE
Arca’’).3 It does not include references
to the Exchange’s newest national
securities exchange affiliates, NYSE
National, Inc. (‘‘NYSE National’’) and
Chicago Stock Exchange, Inc. (‘‘CHX’’).
The Exchange proposes to replace lists
of individual national securities
exchange affiliates in the Independence
Policy with the term ‘‘Exchange,’’
defined as any national securities
exchange registered under Section 6 of
the Exchange Act 4 and controlled,
directly or indirectly, by ICE. The
definition would encompass the
Exchange, NYSE, NYSE Arca, NYSE
National, and CHX (collectively, the
‘‘SRO Affiliates’’).
Specifically, the Exchange proposes to
add a second paragraph under
‘‘Purpose’’ with the definition of
‘‘Exchange.’’ 5 In addition, the Exchange
proposes to make the following changes
in the section under ‘‘Independence
Qualifications’’:
• Replace ‘‘New York Stock Exchange
LLC, NYSE Arca, Inc. and NYSE
American LLC’’ with ‘‘an Exchange’’ in
category 1(b) and (c);
• Replace ‘‘New York Stock Exchange
LLC, on NYSE Arca, Inc. or on NYSE
American LLC’’ with ‘‘an Exchange’’ in
category 1(d) and category 4;
• Replace ‘‘New York Stock Exchange
LLC, and NYSE Arca, Inc. and NYSE
American LLC exercise’’ with ‘‘each
Exchange exercises’’ in the final
paragraph of category 1;
• Replace ‘‘New York Stock Exchange
LLC, NYSE Arca, Inc., NYSE Arca
3 The independence policy of the board of
directors of the Exchange’s affiliate NYSE is
substantially the same as the Independence Policy.
NYSE has submitted substantially the same
proposed rule change to its independence policy as
described herein. See SR–NYSE–2018–38.
4 15 U.S.C. 78f.
5 The proposed text would include the definition
of ‘‘ICE.’’ Accordingly, the Exchange proposes to
delete the definition of ICE in ‘‘Independence
Requirements,’’ category 1.

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