30 Day Notice

13780

Federal Register / Vol. 87, No. 47 / Thursday, March 10, 2022 / Notices

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–05023 Filed 3–9–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–792; OMB Control No.
3235–0739]

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

khammond on DSKJM1Z7X2PROD with NOTICES

Extension:
Order Granting a Conditional Exemption
under the Securities Exchange Act of
1934 from the Confirmation
Requirements of Exchange Act Rule 10b–
10(a) for Certain Transactions in Money
Market Funds

The prior 30-day notice was issued in
error and this new one allows a new 30
days to comment.
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
the following: Order Granting a
Conditional Exemption under the
Securities Exchange Act of 1934 from
the Confirmation Requirements of
Exchange Act Rule 10b–10(a) for Certain
Transactions in Money Market Funds
(17 CFR 240.10b–10(a)).
Rule 10b–10 under the Securities
Exchange Act of 1934 (‘‘Exchange Act’’)
(15 U.S.C. 78a et seq.) generally requires
broker-dealers to provide customers
with specified information relating to
their securities transactions at or before
the completion of the transactions. Rule
10b–10(b), however, provides an
exception from this requirement for
certain transactions in money market
funds that attempt to maintain a stable
net asset value when no sales load or
redemption fee is charged. The
exception permits broker-dealers to
provide transaction information to
money market fund shareholders on a
monthly, rather than immediate, basis,
subject to the conditions. Amendments
to Rule 2a–7 (17 CFR 270.2a–7) of the
13 17

CFR 200.30–3(a)(57).

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Investment Company Act of 1940
(‘‘Investment Company Act’’) (15 U.S.C.
80a–1 et seq.) among other things,
means, absent an exemption, brokerdealers would not be able to continue to
rely on the exception under Exchange
Act Rule 10b–10(b) for transactions in
money market funds operating in
accordance with Investment Company
Act Rule 2a–7(c)(1)(ii).1
In 2015, the Commission issued an
Order Granting a Conditional
Exemption under the Securities
Exchange Act of 1934 From The
Confirmation Requirements of Exchange
Act Rule 10b–10(a) For Certain
Transactions In Money Market Funds
(‘‘Order’’) 2 which allows broker-dealers,
subject to certain conditions, to provide
transaction information to investors in
any money market fund operating
pursuant to Investment Company Act
Rule 2a–7(c)(1)(ii) on a monthly basis in
lieu of providing immediate
confirmations as required under
Exchange Act Rule 10b–10(a) (‘‘the
Exemption’’). Accordingly, to be eligible
for the Exemption, a broker-dealer must
(1) provide an initial written
notification to the customer of its ability
to request delivery of immediate
confirmations consistent with the
written notification requirements of
Exchange Act Rule 10b–10(a), and (2)
not receive any such request to receive
immediate confirms from the customer.
As of December 31, 2020, the
Commission estimates there are
approximately 154 broker-dealers that
clear customer transactions or carry
customer funds and securities who
would be responsible for providing
customer confirmations. The
Commission estimates that the cost of
the ongoing notification requirements
would be minimal, approximately 5% of
the initial burden which was previously
estimated to be 36 hours per brokerdealer, or approximately 1.8 hours per
broker-dealer per year to provide
ongoing notifications or a total burden
of 277 hours annually for the 154
carrying broker-dealers.
An agency may not conduct or
sponsor, and a person is not required to
1 See generally Money Market Fund Reform;
Amendments to Form PF, Securities Act Release
No. 9408, Investment Advisers Act Release No.
3616, Investment Company Act Release No. 30551
(June 5, 2013), 78 FR 36834, 36934 (June 19, 2013);
see also Exchange Act Rule 10b–10(b)(1), 17 CFR
240.10b–10(b)(1) (limiting alternative monthly
reporting to money market funds that attempt to
maintain a stable NAV).
2 See Order Granting a Conditional Exemption
Under the Securities Exchange Act of 1934 From
the Confirmation Requirements of Exchange Act
Rule 10b–10(a) for Certain Transactions in Money
Market Funds, Exchange Act Release No. 34–76480
(Nov. 19, 2015), 80 FR 73849 (Nov. 25, 2015).

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respond to, a collection of information
under the PRA 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 by
April 11, 2022 to (i)
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o John Pezzullo, 100 F Street NE
Washington, DC 20549, or by sending an
email to: [email protected].
Comments must be submitted to OMB
within 30 days of this notice.
Dated: March 4, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022–05019 Filed 3–9–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–94362; File No. SR–NYSE–
2021–42]

Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Amend the Requirements of
Section 102.06 of the NYSE Listed
Company Manual To Allow an
Acquisition Company To Contribute a
Portion of Its Trust Account to a New
Acquisition Company and Spin-Off the
New Acquisition Company to Its
Shareholders
March 4, 2022.

On August 23, 2021, the New York
Stock Exchange LLC (‘‘NYSE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) 1 and
Rule 19b–4 thereunder,2 a proposed rule
change to amend the requirements of
Section 102.06 of the NYSE Listed
Company Manual (‘‘Manual’’) to allow
an acquisition company to contribute a
portion of the amount held in its trust
account to a trust account of a new
1 15
2 17

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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