30 ay Notice

77652

Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices

necessary or appropriate in the public
interest; (ii) for the protection of
investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:

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Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
GEMX–2023–13 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to file
number SR–GEMX–2023–13. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number

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SR–GEMX–2023–13 and should be
submitted on or before December 4,
2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.26
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24867 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–98863; File No. SR–NYSE–
2023–35]

Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Withdrawal of Proposed Rule Change
To Amend Its Price List
November 6, 2023.

On September 28, 2023, New York
Stock Exchange LLC (‘‘NYSE’’) filed
with the Securities and Exchange
Commission (the ‘‘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 its Price List to: (1) modify fee
rates and requirements for transactions
that remove liquidity from the
Exchange; (2) offer a monthly rebate for
Designated Market Maker units with 150
or fewer assigned securities along with
incentives for affiliated Supplemental
Liquidity Providers; and (3) eliminate
an underutilized fee for transactions
that remove liquidity from the Exchange
in Tape B and C securities. The
proposed rule change was published for
comment on October 4, 2023.3 On
November 1, 2023, NYSE withdrew the
proposed rule change (SR–NYSE–2023–
35).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.4
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24865 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P

26 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 No. 98666
(September 29, 2023), 88 FR 68718 (October 4,
2023).
4 17 CFR 200.30–3(a)(12).
1 15

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–238, OMB Control No.
3235–0214]

Submission for OMB Review;
Comment Request; Extension: Rule
17a–7
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
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
described below.
Rule 17a–7 (17 CFR 270.17a–7) (the
‘‘rule’’) under the Investment Company
Act of 1940 (15 U.S.C. 80a–1 et seq.)
(the ‘‘Act’’) is entitled ‘‘Exemption of
certain purchase or sale transactions
between an investment company and
certain affiliated persons thereof.’’ It
provides an exemption from section
17(a) of the Act for purchases and sales
of securities between registered
investment companies (‘‘funds’’), that
are affiliated persons (‘‘first-tier
affiliates’’) or affiliated persons of
affiliated persons (‘‘second-tier
affiliates’’), or between a fund and a
first- or second-tier affiliate other than
another fund, when the affiliation arises
solely because of a common investment
adviser, director, or officer. Rule 17a–7
requires funds to keep various records
in connection with purchase or sale
transactions effected in reliance on the
rule. The rule requires the fund’s board
of directors to establish procedures
reasonably designed to ensure that the
rule’s conditions have been satisfied.
The board is also required to determine,
at least on a quarterly basis, that all
affiliated transactions effected during
the preceding quarter in reliance on the
rule were made in compliance with
these established procedures. If a fund
enters into a purchase or sale
transaction with an affiliated person, the
rule requires the fund to compile and
maintain written records of the
transaction.1 The Commission’s
1 Rule 17a–7(g) requires the written record of the
affiliated transaction to include the following
information: a description of the security purchased
or sold, the identity of the person on the other side
of the transaction, the terms of the purchase or sale
transaction, and the information or materials upon
which the board determined that the purchase or
sale complied with the procedures set by the board.

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Federal Register / Vol. 88, No. 217 / Monday, November 13, 2023 / Notices
examination staff uses these records to
evaluate for compliance with the rule.
While most funds do not commonly
engage in transactions covered by rule
17a–7, the Commission staff estimates
that nearly all funds have adopted
procedures for complying with the
rule.2 Of the approximately 2,768
currently active funds, the staff
estimates that virtually all have already
adopted procedures for compliance with
rule 17a–7. This is a one-time burden,
and the staff therefore does not estimate
an ongoing burden related to the
policies and procedures requirement of
the rule for funds.3 The staff estimates
that there are approximately 110new
funds that register each year, and that
each of these funds adopts the relevant
policies and procedures. The staff
estimates that it takes approximately 4
hours to develop and adopt these
policies and procedures. Therefore, the
total annual burden related to
developing and adopting these policies
and procedures would be approximately
360 hours.4
Of the 2,768 existing funds, the staff
assumes that approximately 21%, (or
582) enter into transactions affected by
rule 17a–7 each year (either by the fund
directly or through one of the fund’s
series), and that the same percentage
(21%, or 23 funds) of the estimated 110
funds that newly register each year will
also enter into these transactions, for a
total of 605 5 companies that are affected
by the recordkeeping requirements of
rule 17a–7. These funds must keep
records of each of these transactions,
and the board of directors must
quarterly determine that all relevant
transactions were made in compliance
with the company’s policies and
procedures. The rule generally imposes
a minimal burden of collecting and
storing records already generated for
other purposes.6 The staff estimates that
the burden related to making these
records and for the board to review all

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2 Unless

stated otherwise, these estimates are
based on conversations with the examination and
inspections staff of the Commission and fund
representatives.
3 Based on our reviews and conversations with
fund representatives, we understand that funds
rarely, if ever, need to make changes to these
policies and procedures once adopted, and
therefore we do not estimate a paperwork burden
for such updates.
4 This estimate is based on the following
calculations: (4 hours ×110 new funds = 440 hours);
($6,045 × 110 = $664,950.
5 These estimates are based on the following
calculations: (21% = 582 / 2,768); (605 = 582 + 23).
6 Commission staff believes that rule 17a–7 does
not impose any costs associated with record
preservation in addition to the costs that funds
already incur to comply with the record
preservation requirements of rule 31a–2 under the
Act. Rule 31a–2 requires companies to preserve
certain records for specified periods of time.

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transactions would be 3 hours annually
for each respondent, (2 hours spent by
compliance attorneys and 1 hour spent
by the board of directors) 7 or 1,815 total
hours each year at cost of $3,400,100.8
Based on these estimates, the staff
estimates the combined total annual
burden hours associated with rule 17a–
7 is 2,225 hours at a cost of $4,065,050.9
The staff also estimates that there are
approximately 605 respondents and
4,840 total responses.10
The estimate of average burden hours
is 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. The
collection of information required by
rule 17a–7 is necessary to obtain the
benefits of the rule. Responses will not
be kept confidential. 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.
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 by December 13, 2023 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].
Dated: November 7, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–24954 Filed 11–9–23; 8:45 am]
BILLING CODE 8011–01–P
7 The staff estimates that funds that rely on rule
17a–7 annually enter into an average of 8 rule 17a–
7 transactions each year. The staff estimates that the
compliance attorneys of the companies spend
approximately 15 minutes per transaction on this
recordkeeping, and the board of directors spends a
total of 1 hour annually in determining that all
transactions made that year were done in
compliance with the company’s policies and
procedures. This estimate is based on the following
calculations: (2 hours × $425 = $850); ($850 +
$4,770 = $5,620).
8 This estimate is based on the following
calculation: (3 hours × 605 companies = 1,815
hours); ($5,620 × 605 companies = $3,400,100).
9 This estimate is based on the following
calculation: (440 hours + 1,815 hours = 2,255 total
hours); ($664,950 + $3,400,100 = $4,065,050).
10 This estimate is based on the following
calculations: 605 funds that engage in rule 17a–7
transactions × 8 transactions per year = 4,840.

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77653

SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #20078; CALIFORNIA
Disaster Number CA–20001 Declaration of
Economic Injury]

Administrative Declaration of an
Economic Injury Disaster for the State
of California
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:

This is a notice of an
Economic Injury Disaster Loan (EIDL)
declaration for the State of California
dated 11/06/2023.
Incident: Smith River Complex Fire.
Incident Period: 08/15/2023 and
continuing.

SUMMARY:

Issued on 11/06/2023.
Economic Injury (EIDL) Loan
Application Deadline Date: 08/06/2024.
ADDRESSES: Visit the MySBA Loan
Portal at https://lending.sba.gov to
apply for a disaster assistance loan.
FOR FURTHER INFORMATION CONTACT:
Alan Escobar, Office of Disaster
Recovery & Resilience, U.S. Small
Business Administration, 409 3rd Street
SW, Suite 6050, Washington, DC 20416,
(202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s EIDL declaration,
applications for disaster loans may be
submitted online using the MySBA
Loan Portal https://lending.sba.gov or
other locally announced locations.
Please contact the SBA disaster
assistance customer service center by
email at disastercustomerservice@
sba.gov or by phone at 1–800–659–2955
for further assistance.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Del Norte.
Contiguous Counties:
California: Humboldt, Siskiyou.
Oregon: Josephine, Curry
The Interest Rates are:
DATES:

Percent
Business and Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..................
Non-Profit Organizations Without
Credit Available Elsewhere .......

4.000
2.375

The number assigned to this disaster
for economic injury is 200780.
The States which received an EIDL
Declaration are California, Oregon.

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