60 Day Notice

32260

Federal Register / Vol. 88, No. 97 / Friday, May 19, 2023 / Notices

POSTAL SERVICE
International Product Change—Priority
Mail Express International, Priority Mail
International & First-Class Package
International Service Agreement
Postal ServiceTM.
Notice.

AGENCY:
ACTION:

The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a Priority
Mail Express International, Priority Mail
International & First-Class Package
International Service contract to the list
of Negotiated Service Agreements in the
Competitive Product List in the Mail
Classification Schedule.
DATES: Date of notice: May 19, 2023.
FOR FURTHER INFORMATION CONTACT:
Christopher C. Meyerson, (202) 268–
7820.
SUMMARY:

The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on May 15, 2023,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Express International,
Priority Mail International & First-Class
Package International Service Contract
20 to Competitive Product List.
Documents are available at
www.prc.gov, Docket Nos. MC2023–157
and CP2023–161.
SUPPLEMENTARY INFORMATION:

Tram T. Pham,
Attorney, Ethics and Legal Compliance.
[FR Doc. 2023–10696 Filed 5–18–23; 8:45 am]
BILLING CODE 7710–12–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–616, OMB Control No.
3235–0671]

ddrumheller on DSK120RN23PROD with NOTICES1

Extension: Rule 613 of Regulation NMS
Upon Written Request, Copies Available
From: Securities and Exchange
Commission; Office of FOIA Services;
100 F Street NE, Washington, DC
20549–2736
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 connection with a
National Market System (NMS) Plan
filed with the Commission under Rule
613 (17 CFR 242.613), under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.). The Commission
plans to submit this existing collection

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of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 613 of Regulation NMS (17 CFR
part 242) required national securities
exchanges and national securities
associations (‘‘Participants’’) to jointly
submit to the Commission a national
market system (‘‘NMS’’) plan to govern
the creation, implementation, and
maintenance of a consolidated audit
trail (‘‘CAT’’) and Central Repository for
the collection of information for NMS
securities. On February 27, 2015, the
Participants submitted the CAT NMS
Plan to the Commission.1 On April 27,
2016, the Commission published a
notice soliciting comments from the
public (‘‘CAT NMS Plan Notice’’).2 On
November 15, 2016, the Commission
approved the CAT NMS Plan (‘‘CAT
NMS Plan Order’’), including the
information collections proposed in the
CAT NMS Plan Notice, and certain
additional information collections.3
Since July 2020, the date of the last
PRA renewal, the Commission believes
one additional information collection
was completed: a one-time independent
audit of the fees, costs, and expenses
incurred by the Participants on behalf of
CAT NMS, LLC prior to the Effective
Date 4 of the Plan; 5 In addition. certain
information collection requirements
1 See Letter from Participants to Brent J. Fields,
Secretary, Commission, dated February 27, 2015.
The Participants filed the CAT NMS Plan on
September 30, 2014. See Letter from the
Participants, to Brent J. Fields, Secretary,
Commission, dated September 30, 2014. The CAT
NMS Plan filed on February 27, 2015, was an
amendment to and replacement of the Initial CAT
NMS Plan (the ‘‘Amended and Restated CAT NMS
Plan’’). On December 24, 2015, the Participants
submitted an Amendment to the Amended and
Restated CAT NMS Plan. See Letter from
Participants to Brent J. Fields, Secretary,
Commission, dated December 23, 2015 (the
‘‘Amendment’’). On February 9, 2016, the
Participants filed with the Commission an identical,
but unmarked, version of the Amended and
Restated CAT NMS Plan, dated February 27, 2015,
as modified by the Amendment, as well as a copy
of the request for proposal issued by the
Participants to solicit Bids from parties interested
in serving as the Plan Processor for the consolidated
audit trail. Unless the context otherwise requires,
the ‘‘CAT NMS Plan’’ shall refer to the Amended
and Restated CAT NMS Plan, as modified by the
Amendment.
2 See Securities Exchange Act Release No. 77724
(April 27, 2016), 81 FR 30613 (May 17, 2016). The
burdens associated with the CAT NMS Plan Notice
were submitted under OMB number 3235–0671
which relates to the NMS Plan required to be filed
under Rule 613.
3 See Securities Exchange Act Release No. 79318
(November 15, 2016), 81 FR 84696 (November 23,
2016), available at https://www.sec.gov/rules/sro/
nms/2016/34-79318.pdf (‘‘CAT NMS Plan Order’’).
4 The ‘‘Effective Date’’ is the date the Commission
approved the CAT NMS Plan, which is November
15, 2016. See id.
5 See CAT NMS Plan Order, supra note 3, at
84940.

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have completed at least the
implementation stage, although certain
ongoing costs remain, including: (1)
development of a Central Repository
tasked with the receipt, consolidation,
and retention of reported order and
execution information submitted by
Participants and their members; 6 (2) the
requirement that each Participant, and
any member of such Participant, record
and electronically report to the Central
Repository details for each order and
Reportable Event documenting the life
of an order through the process of
original receipt or origination, routing,
modification, cancellation, and
execution (in whole or in part) for each
NMS security; 7 (3) the requirement that
the CAT NMS Plan require the Central
Repository to collect and retain on a
current and continuous basis NBBO
information for each NMS security,
transaction reports reported pursuant to
an effective transaction reporting plan,
and Last Sale Reports reported pursuant
to the Options Price Reporting
Authority Plan; 8 (4) the requirement
that the CAT NMS Plan must require
that every national securities exchange
and national securities association
develop and implement a surveillance
system, or enhance existing surveillance
systems, reasonably designed to make
use of the consolidated information
contained in the consolidated audit
trail; 9 (5) an annual requirement that
that the CAT LLC financials be (i) in
compliance with GAAP, (ii) be audited
by an independent public accounting
firm, and (iii) be made publicly
available; 10 and (6) a requirement that
each Participant conduct background
checks for its employees and contractors
that will use the CAT System.11
This Notice addresses both the
ongoing information collection
requirements noted above and the
remaining information collection
requirements noticed in the CAT NMS
Plan Notice and certain additional
information collections of the CAT NMS
Plan Order, which are: (1) a one-time
report from the Participants discussing
the feasibility and advisability of
allowing Industry Members to bulk
download the Raw Data that it has
submitted to the Central Repository; 12
(2) a one-time assessment of the nature
and extent of errors in the Customer
6 See

17 CFR 242.613.
17 CFR 242.613(c)(1), (c)(5), (c)(6), (c)(7).
8 See 17 CFR 242.613(e)(7).
9 See 17 CFR 242.613(f).
10 Id.
11 Id. The Commission believes that these
background checks are necessary to ensure that
only authorized and qualified persons are using the
CAT System.
12 Id. at 84941.
7 See

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Federal Register / Vol. 88, No. 97 / Friday, May 19, 2023 / Notices
information submitted to the Central
Repository and whether the correction
of certain data fields over others should
be prioritized from the Participants; 13
(3) a one-time report on the impact of
tiered fees on market liquidity,
including an analysis of the impact of
the tiered-fee structure on Industry
Members provision of liquidity from the
Participants; 14 and (4) an assessment of
the projected impact of any Material
Systems Change on the Maximum Error
Rate, prior to the implementation of
such Material Systems Change from the
Participants; 15
The Commission believes that the
CAT NMS Plan, once fully
implemented, will improve the quality
of the data available to regulators in four
areas that affect the ultimate
effectiveness of core regulatory efforts—
completeness, accuracy, accessibility
and timeliness.16 The improvements in
these data qualities would substantially
improve regulators’ ability to perform
analysis and reconstruction of market
events, and market analysis and
research to inform policy decisions, as
well as perform regulatory activities, in
particular market surveillance,
examinations, investigations, and other
enforcement functions.
The Commission estimates that 1375
respondents 17 will require an aggregate
total of approximately 4,931,332 hours
per year to comply with the collection
of information. The Commission further
estimates that the aggregate cost to
comply with the collection of
information will be approximately
$328,627,524 per year.
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
13 Id.

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14 Id.

at 84941–84942.
15 Id. at 84942. The Commission believes that four
assessments would be filed annually.
16 See CAT NMS Plan Order, supra note 3, at
45727 (discussing four ‘‘qualities’’ of trade and
order data that impact the effectiveness of core
Participant and Commission regulatory efforts:
accuracy, completeness, accessibility, and
timeliness).
17 The Commission notes that 25 Participants (the
24 national securities exchanges and one national
securities association) and 1,350 broker-dealers
subject to information collections requirements
pursuant to Rule 613 and the CAT NMS Plan.

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32261

of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted by
July 18, 2023.
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 John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].

address is listed for the relevant
Applicant below. Hearing requests
should be received by the Commission
by 5:30 p.m. on June 12, 2023, and
should be accompanied by proof of
service on Applicants, in the form of an
affidavit or, for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
emailing the Commission’s Secretary.

Dated: May 16, 2023.
Sherry R. Haywood,
Assistant Secretary.

ADDRESSES:

[FR Doc. 2023–10781 Filed 5–18–23; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
34917; File No. 812–15401]

PGIM Investments LLC and PGIM
Private Credit Fund
Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:

Notice of an application under section
6(c) of the Investment Company Act of
1940 (the ‘‘Act’’) for an exemption from
sections 18(a)(2), 18(c), 18(i) and section
61(a) of the Act.
SUMMARY OF APPLICATION: Applicants
request an order to permit certain
closed-end management investment
companies that have elected to be
regulated as business development
companies to issue multiple classes of
shares with varying sales loads and
asset-based distribution and/or service
fees.
APPLICANTS: PGIM Investments LLC and
PGIM Private Credit Fund.
FILING DATES: The application was filed
on November 1, 2022, and amended on
May 5, 2023.
HEARING OR NOTIFICATION OF HEARING:
An order granting the requested relief
will be issued unless the Commission
orders a hearing. Interested persons may
request a hearing on any application by
emailing the SEC’s Secretary at
[email protected] and serving
the Applicants with a copy of the
request by email, if an email address is
listed for the relevant applicant below,
or personally or by mail, if a physical

Frm 00086

FOR FURTHER INFORMATION CONTACT:

Stephan N. Packs, Senior Counsel, or
Terri G. Jordan, Branch Chief, at (202)
551–6825 (Division of Investment
Management, Chief Counsel’s Office).
For
Applicants’ representations, legal
analysis, and condition, please refer to
Applicants’ amended and restated
application, dated May 5, 2023, which
may be obtained via the Commission’s
website by searching for the file number
at the top of this document, or for an
Applicant using the Company name
search field, on the SEC’s EDGAR
system. The SEC’s EDGAR system may
be searched at https://www.sec.gov/
edgar/searchedgar/legacy/
companysearch.html. You may also call
the SEC’s Public Reference Room at
(202) 551–8090.

SUPPLEMENTARY INFORMATION:

May 16, 2023.

PO 00000

The Commission:
[email protected]. The
Applicants: Claudia DiGiacomo,
[email protected]; Debra
Rubano, [email protected];
Benjamin C. Wells, [email protected];
and Ryan Brizek, ryan.brizek@
stblaw.com.

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For the Commission, by the Division of
Investment Management, under delegated
authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–10782 Filed 5–18–23; 8:45 am]
BILLING CODE 8011–01–P

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