Federal Register 60-Day Notice

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Federal Register / Vol. 90, No. 181 / Monday, September 22, 2025 / Notices

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0282]

khammond on DSK9W7S144PROD with NOTICES

Agency Information Collection
Activities; Proposed Collection;
Comment Request; Reinstatement
Without Change: Rule 23c–2
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 et seq.), the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
The title for the collection of
information is ‘‘Rule 23c–2 (17 CFR
270.23c–2) under the Investment
Company Act of 1940.’’ Rule 23c–2(a)
(17 CFR 270.23c–2(a)) under the Act
provides that a closed-end fund may
call or redeem any securities it has
issued in accordance with the charter,
provided that in instances where less
than all of the outstanding shares of a
class or series are called or redeemed,
the call or redemption is made by lot on
a pro rata basis, or in a manner that does
not discriminate against any
shareholders. Further, rule 23c–2(b) (17
CFR 270.23c–2(b)) requires closed-end
funds that propose to call or redeem any
securities it has issued to file with the
Commission notice of its intention at
least 30 days prior to the date set for the
call or redemption, provided that if such
notice is required to by published in
newspaper, notice is required within 10
days of publication. The notice is
required to include (1) the title of the
class of securities to be called or
redeemed; (2) the date on which the
securities are to be called or redeemed;
(3) the applicable provisions of the
governing instrument pursuant to which
the securities are to be called or
redeemed; and (4) if less than all the
outstanding securities of a class or series
are to be called or redeemed, the
principal amount or number of shares
and the basis upon which the securities
to be call or redeemed are to be selected.
The Commission last submitted an
information collection request (‘‘ICR’’)
regarding this rule to OMB for approval
under the Paperwork Reduction Act of
1995 (‘‘PRA’’) in November of 1982. The
submission was subsequently approved

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in February of 1983. The Commission
never sought an extension of the
previously approved ICR upon
expiration of the OMB approval in
February of 1986. The reason the
Commission never sought an extension
is because the number of responses to
this ICR recorded within the 1982
submission was only five, which is
below the threshold of ten respondents
outlined within the PRA for requiring
OMB clearance. The Commission is now
seeking to reinstate the rule 23c–2 ICR
under control number 3235–0282.
Commission staff estimates that
approximately 75 closed-end funds
undertake an average of 110 proposed
calls or redemptions of securities
annually under rule 23c–2. Staff
estimates further that, with respect to
each proposed call or redemption, each
fund spends 1.5 hours to comply with
the rule’s filing requirement with the
Commission. Thus, Commission staff
estimates the total annual respondent
reporting burden is 165 hours. The total
annual cost for all funds is estimated to
be $81,180.
The requirements of this collection of
information are mandatory. 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 OMB Control
Number.
Written comments are invited on: (a)
whether this proposed collection of
information is necessary for the proper
performance of the functions of the SEC,
including whether the information will
have practical utility; (b) the accuracy of
the SEC’s estimate of the burden
imposed by the proposed collection of
information, including the validity of
the methodology and the assumptions
used; (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, electronic
collection techniques or other forms of
information technology.
Please direct your written comments
on this 60-Day Collection Notice to
Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by November 21, 2025. There
will be a second opportunity to
comment on this SEC request following
the Federal Register publishing a 30Day Submission Notice.

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Dated: September 17, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–18241 Filed 9–19–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–103990; File No. SR–
GEMX–2025–24]

Self-Regulatory Organizations; Nasdaq
GEMX, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Lower the Options
Regulatory Fee (ORF)
September 17, 2025.

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
September 5, 2025, Nasdaq GEMX, LLC
(‘‘GEMX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. 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 decrease
GEMX’s Options Regulatory Fee or
‘‘ORF.’’
While the changes proposed herein
are effective upon filing, the Exchange
has designated the amendments become
operative on October 1, 2025.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/gemx/rulefilings and at the
principal office of the Exchange.
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.
1 15
2 17

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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