60 Day Notice

Federal Register / Vol. 85, No. 75 / Friday, April 17, 2020 / Notices
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–Phlx–2020–19 and should
be submitted on or before May 8, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–08087 Filed 4–16–20; 8:45 am]
BILLING CODE 8011–01–P

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

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

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Extension:
Rule 613 of Regulation NMS

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
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
18 17

CFR 200.30–3(a)(12).

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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 November 15, 2016, the
Commission believes that three
information collection requirements
have been completed, specifically: (1) A
document outlining how the
Participants could incorporate into the
consolidated audit trail information
regarding certain products that are not
NMS securities; 4 (2) a one-time
assessment of the clock synchronization
standards in the Plan before reporting
begins for Industry Members, which
assessment shall take into account the
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 See 17 CFR 242.613(i). See also ‘‘One-Time
Written Assessments,’’ Consolidated Audit Trail,
LLC at: https://www.catnmsplan.com/one-timewritten-assessments/index.html.

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diversity of CAT Reporters and
systems; 5 and (3) a one-time report that
discusses the Participants’ assessment of
implementing coordinated
surveillance.6
This Notice addresses 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) Development of a Central
Repository tasked with the receipt,
consolidation, and retention of reported
order and execution information
submitted by Participants and their
members; 7 (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; 8 (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; 9 (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; 10 (5) a onetime independent audit of the fees,
costs, and expenses incurred by the
Participants on behalf of CAT NMS, LLC
prior to the Effective Date 11 of the
Plan; 12 (6) 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; 13 (7) a one-time assessment
of the nature and extent of errors in the
Customer information submitted to the
Central Repository and whether the
5 See CAT NMS Plan Order, supra note 3, at
84940.
6 Id. at 84940–84941.
7 See 17 CFR 242.613.
8 See 17 CFR 242.613(c)(1), (c)(5), (c)(6), (c)(7).
9 See 17 CFR 242.613(e)(7).
10 See 17 CFR 242.613(f).
11 The ‘‘Effective Date’’ is the date the
Commission approved the CAT NMS Plan, which
is November 15, 2016. See id.
12 See CAT NMS Plan Order, supra note, at
84940.
13 Id. at 84941.

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Federal Register / Vol. 85, No. 75 / Friday, April 17, 2020 / Notices

correction of certain data fields over
others should be prioritized from the
Participants; 14 (8) 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; 15 (9) 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; 16 (10) 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; 17
(11) a requirement that each Participant
conduct background checks for its
employees and contractors that will use
the CAT System.18
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.19 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 1524
respondents 20 will require an aggregate
total of approximately 7,572,610 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
$463,322,593 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
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: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street, NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: April 14, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–08122 Filed 4–16–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 85 FR 20309, April 10,

2020.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Wednesday, April 15, 2020

at 3:00 p.m.
14 Id.
15 Id.

at 84941–84942.
at 84942. The Commission believes that four
assessments would be filed annually.
17 Id.
18 Id. The Commission believes that these
background checks are necessary to ensure that
only authorized and qualified persons are using the
CAT System.
19 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).
20 The Commission notes that 24 Participants (the
23 national securities exchanges and one national
securities association) and 1,500 broker-dealers
subject to information collections requirements
pursuant to Rule 613 and the CAT NMS Plan.

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The Closed
Meeting scheduled for Wednesday,
April 15, 2020 at 3:00 p.m., has been
cancelled.

CHANGES IN THE MEETING:

CONTACT PERSON FOR MORE INFORMATION:

For further information; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Dated: April 14, 2020.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020–08238 Filed 4–15–20; 11:15 am]
BILLING CODE 8011–01–P

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DEPARTMENT OF STATE
[Public Notice 11093]

60-Day Notice of Proposed Information
Collection: Annual Report—J–
NONIMMIGRANT Exchange Visitor
Program
Notice of request for public
comment.

ACTION:

The Department of State is
seeking Office of Management and
Budget (OMB) approval for the
information collection described below.
In accordance with the Paperwork
Reduction Act of 1995, we are
requesting comments on this collection
from all interested individuals and
organizations. The purpose of this
notice is to allow 60 days for public
comment preceding submission of the
collection to OMB.
DATES: The Department will accept
comments from the public up to June
16, 2020.
ADDRESSES: You may submit comments
by any of the following methods:
• Web: Persons with access to the
internet may comment on this notice by
going to www.Regulations.gov. You can
search for the document by entering
‘‘Docket Number: DOS–2020–0015’’ in
the Search field. Then click the
‘‘Comment Now’’ button and complete
the comment form.
• Email: JExchanges@State.gov.
• Regular Mail: Send written
comments to: U.S. Department of State,
ECA/EC, SA–4E, Floor 1, 2200 C Street
NW, Washington, DC 20522–0505,
ATTN: Federal Register Notice
Response.
You must include the DS form
number (if applicable), information
collection title, and the OMB control
number in any correspondence.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed collection
instrument and supporting documents,
to G. Kevin Saba, Director, Office of
Policy and Program Support, Office of
Private Sector Exchange, ECA/EC, SA–
4E, Floor 5, Department of State, 2200
C Street NW, Washington, DC 20522–
0505, who may be reached on 202–634–
4710 or at JExchanges@state.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:

• Title of Information Collection:
Annual Report—J–NONIMMIGRANT
Exchange Visitor Program.
• OMB Control Number: 1405–0151.
• Type of Request: Revision of a
Currently Approved Collection.

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