Federal Register 60-Day Notice

Federal Register / Vol. 90, No. 181 / Monday, September 22, 2025 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0066]

khammond on DSK9W7S144PROD with NOTICES

Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension: Form
S–8—Securities Act Registration
Statement
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
(‘‘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 for extension
and approval.
Form S–8 (17 CFR 239.16b) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) is the primary registration
statement used by eligible registrants to
register securities to be issued in
connection with an employee benefit
plan. The information collected is
intended to ensure the adequacy of
information available to investors in
connection with securities offerings. We
estimate that Form S–8 takes
approximately 28.25 hours per response
to prepare and is filed once per year by
approximately 2,541 respondents. We
estimate that 50% of the burden (14.125
hours) is carried internally by the issuer
for a total annual reporting burden of
35,892 (14.125 hours per response ×
2,541 responses). We estimate that 50%
of the burden is carried externally by
outside professionals at a rate of $600
per hour for a total cost burden of
$21,534,975 (14.125 hours per response
× $600 per hour × 2,541 responses).
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
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by 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

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through the use of automated 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.
Dated: September 18, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–18339 Filed 9–19–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–103994; File No. SR–Phlx–
2025–43]

Self-Regulatory Organizations; Nasdaq
PHLX 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 PHLX LLC
(‘‘Phlx’’ 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
Phlx’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/phlx/rulefilings and at the
principal office of the Exchange.
1 15
2 17

PO 00000

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Phlx proposes to decrease its ORF at
Options 7, Section 6, D from $0.0024 to
$0.0003 per contract side effective
October 1, 2025.
Background on Current ORF
Today, Phlx assesses its ORF for each
Customer option transaction that is
either: (1) executed by a member
organization 3 on Phlx; or (2) cleared by
a Phlx member organization at OCC in
the Customer range, even if the
transaction was executed by a nonmember organization of Phlx, regardless
of the exchange on which the
transaction occurs.4 If the OCC clearing
member is a Phlx member organization,
ORF is assessed and collected on all
ultimately cleared Customer contracts
(after adjustment for CMTA 5); and (2) if
the OCC clearing member is not a Phlx
3 The term ‘‘member organization’’ means a
corporation, partnership (general or limited),
limited liability partnership, limited liability
company, business trust or similar organization,
transacting business as a broker or a dealer in
securities and which has the status of a member
organization by virtue of (i) admission to
membership given to it by the Membership
Department pursuant to the provisions of General
3, Sections 5 and 10 or the By-Laws or (ii) the
transitional rules adopted by the Exchange pursuant
to Section 6–4 of the By-Laws. References herein to
officer or partner, when used in the context of a
member organization, shall include any person
holding a similar position in any organization other
than a corporation or partnership that has the status
of a member organization. See General 1, Section
1(17).
4 The Exchange uses reports from OCC when
assessing and collecting the ORF. Market
participants must record the appropriate account
origin code on all orders at the time of entry of the
order. The Exchange represents that it has
surveillances in place to verify that members mark
orders with the correct account origin code.
5 CMTA or Clearing member organization Trade
Assignment is a form of ‘‘give-up’’ whereby the
position will be assigned to a specific clearing firm
at OCC.

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