60 Day Notice

Federal Register / Vol. 84, No. 173 / Friday, September 6, 2019 / Notices
that they would have been eligible for
if accurate data for August 12, 2019
were available and included in the
monthly calculation.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change would treat all
market participants on the Exchange
equally by excluding August 12, 2019
from all tier calculations described in
Equity 7, Sections 114 and 118.
Moreover, the Exchange believes that
the proposed change would enhance
competition between competing
marketplaces by enabling the Exchange
to fairly assess its members fees and to
apply credits in light of systems issues
that occurred, which are beyond the
control of the Exchange.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 11 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 12
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has
requested that the Commission waive
the 30-day operative delay. The
9 15

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).

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Exchange begins the calculation and
billing of member fees and credits under
Equity 7, Sections 114 and 118 at the
close of each month, and an operative
delay would disrupt the normal billing
process, which may cause expense and
potential investor confusion. Therefore,
the Commission believes that waiver of
the 30-day operative delay is consistent
with the protection of investors and the
public interest. Accordingly, the
Commission hereby waives the
operative delay and designates the
proposal as operative upon filing.13
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or 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
change should be approved or
disapproved.

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
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NASDAQ–2019–069 and
should be submitted on or before
September 27, 2019.

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:

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Jill M. Peterson,
Assistant Secretary.

Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NASDAQ–2019–069 on the subject line.

SECURITIES AND EXCHANGE
COMMISSION

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–NASDAQ–2019–069. 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 (http://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
13 For purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).

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[FR Doc. 2019–19224 Filed 9–5–19; 8:45 am]
BILLING CODE 8011–01–P

Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rule 17f–1(g), SEC File No. 270–30, OMB
Control No. 3235–0290

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 Rule 17f–1(g) (17 CFR
240.17f–1(g)), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Paragraph (g) of Rule 17f–1 requires
that all reporting institutions (i.e., every
national securities exchange, member
14 17

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CFR 200.30–3(a)(12).

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Federal Register / Vol. 84, No. 173 / Friday, September 6, 2019 / Notices

thereof, registered securities association,
broker, dealer, municipal securities
dealer, registered transfer agent,
registered clearing agency, participant
therein, member of the Federal Reserve
System and bank insured by the FDIC)
maintain and preserve a number of
documents related to their participation
in the Lost and Stolen Securities
Program (‘‘Program’’) under Rule 17f–1.
The following documents must be kept
in an easily accessible place for three
years, according to paragraph (g): (1)
Copies of all reports of theft or loss
(Form X–17F–1A) filed with the
Commission’s designee: (2) All
agreements between reporting
institutions regarding registration in the
Program or other aspects of Rule 17f–1;
and (3) all confirmations or other
information received from the
Commission or its designee as a result
of inquiry.
Reporting institutions utilize these
records and reports (a) to report missing,
lost, stolen or counterfeit securities to
the database, (b) to confirm inquiry of
the database, and (c) to demonstrate
compliance with Rule 17f–1. The
Commission and the reporting
institutions’ examining authorities
utilize these records to monitor the
incidence of thefts and losses incurred
by reporting institutions and to
determine compliance with Rule 17f–1.
If such records were not retained by
reporting institutions, compliance with
Rule 17f–1 could not be monitored
effectively.
The Commission estimates that there
are approximately 10,018 reporting
institutions (respondents) and, on
average, each respondent would need to
retain 33 records annually, with each
retention requiring approximately 1
minute (a total of 33 minutes or 0.5511
hours per respondent per year). Thus,
the total estimated annual time burden
for all respondents is 5,521 hours
(10,018 × 0.5511 hours = 5,521).
Assuming an average hourly cost for
clerical work of $50.00, the average total
yearly record retention internal cost of
compliance for each respondent would
be $27.56 ($50 × 0.5511 hours). Based
on these estimates, the total annual
internal compliance cost for the
estimated 10,018 reporting institutions
would be approximately $276,096
(10,018 × $27.56).
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

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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 collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
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: Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: September 3, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–19240 Filed 9–5–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–86837; File No. SR–
PEARL–2019–25]

Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the MIAX
PEARL Fee Schedule
August 30, 2019.

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 August
23, 2019, MIAX PEARL, LLC (‘‘MIAX
PEARL’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I, II, and III 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 is filing a proposal to
amend the MIAX PEARL Fee Schedule
(the ‘‘Fee Schedule’’) to modify certain
of the Exchange’s system connectivity
fees.
1 15
2 17

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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The Exchange previously filed the
proposal on June 26, 2019 (SR–PEARL–
2019–21). That filing has been
withdrawn and replaced with the
current filing (SR–PEARL–2019–25).
The text of the proposed rule change
is available on the Exchange’s website at
http://www.miaxoptions.com/rulefilings/pearl at MIAX PEARL’s principal
office, and at the Commission’s Public
Reference Room.
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
The Exchange is refiling its proposal
to amend the Fee Schedule regarding
connectivity to the Exchange in order to
provide greater detail and clarity
concerning the Exchange’s cost
allocation, as it pertains to the
Exchange’s expenses for network
connectivity services. In order to
determine the Exchange’s costs
associated with providing network
connectivity services, the Exchange
conducted an extensive cost allocation
review process in which the Exchange
did a line-by-line analysis of the
Exchange’s general expense ledger to
determine which of those expenses
relate to the provision of network
connectivity services, and, if related,
what portion (or allocation) of such
expense should be attributed to the cost
of providing network connectivity
services. The Exchange is now
presenting the results of the cost
allocation review in a way that
corresponds directly with income
statement expense line items to provide
greater transparency into its actual costs
associated with providing network
connectivity services. Based on this
analysis, the Exchange believes that its
proposed fee increases are fair and
reasonable because they will permit
recovery of less than all of the
Exchange’s costs for providing

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