30 Day Notice

20756

Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices

Extension:
Form F–6

(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form F–6 (17 CFR 239.36) is a form
used by foreign companies to register
the offer and sale of American
Depositary Receipts (ADRs) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.). Form F–6 requires disclosure of
information regarding the terms of the
depository bank, fees charged, and a
description of the ADRs. No special
information regarding the foreign
company is required to be prepared or
disclosed, although the foreign company
must be one which periodically
furnishes information to the
Commission. The information is needed
to ensure that investors in ADRs have
full disclosure of information
concerning the deposit agreement and
the foreign company. Form F–6 takes
approximately 1.35 hour per response to
prepare and is filed by 643 respondents
annually. We estimate that 25% of the
1.35 hour per response (0.338 hours) is
prepared by the filer for a total annual
reporting burden of 217 hours (0.338
hours per response x 643 responses).
The information provided on Form F–6
is mandatory to best ensure full
disclosure of ADRs being issued in the
U.S. All information provided to the
Commission is available for public
review upon request.
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 to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: PRA_Mailbox@sec.gov.

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

Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.

registered broker-dealers. The
Commission estimates that the total
annual time burden associated with
Rule 13h–1 and Form 13H is
approximately 185,200 hours per year.
This burden is comprised of 23,500
hours for initial filings by large traders
on Form 13H, 58,500 hours for updates
by large traders, 96,000 hours for brokerdealer reporting, and 7,200 hours for
broker-dealer monitoring.
Compliance with Rule 13h–1 is
mandatory. The information collection
under Rule 13h–1 is considered
confidential subject to the limited
exceptions provided by the Freedom of
Information Act.4
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.
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 to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: PRA_Mailbox@sec.gov.
Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–08135 Filed 4–20–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–270, OMB Control No.
3235–0292]

Submission for OMB Review;
Comment Request

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Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736

[FR Doc. 2021–08142 Filed 4–20–21; 8:45 am]
4 See

5 U.S.C. 552 and 15 U.S.C. 78m(h)(7).

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–609, OMB Control
No.3235–0706]

Submission for OMB Review;
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:
Form ABS–EE

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’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form ABS–EE (17 CFR 249.1401) is
filed by asset-backed issuers to provide
asset-level information for registered
offerings of asset-backed securities at
the time of securitization and on an
ongoing basis required by Item 1111(h)
of Regulation AB (17 CFR 229.1111(h)).
The purpose of the information
collected on Form ABS–EE is to
implement the disclosure requirements
of Section 7(c) of the Securities Act of
1933 (15 U.S.C. 77g(c)) to provide
information regarding the use of
representations and warranties in the
asset-backed securities markets. We
estimate that approximately 13,374
securitizers will file Form ABS–EE
annually at estimated 170,089 burden
hours per response. In addition, we
estimate that 25% of the 50.87152 hours
per response (12.71788 hours) is carried
internally by the securitizers for a total
annual reporting burden of 170,089
hours (12.71788 hours per response ×
13,374 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
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 to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,

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Federal Register / Vol. 86, No. 75 / Wednesday, April 21, 2021 / Notices
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: PRA_Mailbox@sec.gov.

Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.

Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.

A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change

[FR Doc. 2021–08141 Filed 4–20–21; 8:45 am]
BILLING CODE 8011–01–P

1. Purpose

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91577; File No. SR–
NASDAQ–2021–022]

Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Extend the
Current Pilot Program Related to
Nasdaq Equity 11, Rule 11890 to the
Close of Business on October 20, 2021
April 15, 2021.

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 April 14,
2021, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ 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.

khammond on DSKJM1Z7X2PROD with NOTICES

I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to extend the
current pilot program related to Nasdaq
Equity 11, Rule 11890 to the close of
business on October 20, 2021.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/nasdaq/rules, at the principal
office of the Exchange, 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
1 15
2 17

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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The purpose of the proposed rule
change is to extend the current pilot
program related to Equity 11, Rule
11890, Clearly Erroneous Transactions,
to the close of business on October 20,
2021. The pilot program is currently due
to expire on April 20, 2021.
On September 10, 2010, the
Commission approved, on a pilot basis,
changes to Equity 11, Rule 11890 that,
among other things: (i) Provided for
uniform treatment of clearly
erroneous execution reviews in multistock events involving twenty or more
securities; and (ii) reduced the ability of
the Exchange to deviate from the
objective standards set forth in the rule.3
In 2013, the Exchange adopted a
provision designed to address the
operation of the Plan.4 Finally, in 2014,
the Exchange adopted two additional
provisions providing that: (i) A series of
transactions in a particular security on
one or more trading days may be viewed
as one event if all such transactions
were effected based on the same
fundamentally incorrect or grossly
misinterpreted issuance information
resulting in a severe valuation error for
all such transactions; and (ii) in the
event of any disruption or malfunction
in the operation of the electronic
communications and trading facilities of
an Exchange, another SRO, or
responsible single plan processor in
connection with the transmittal or
receipt of a trading halt, an Officer,
acting on his or her own motion, shall
nullify any transaction that occurs after
a trading halt has been declared by the
primary listing market for a security and
before such trading halt has officially
ended according to the primary listing
market.5
These changes were originally
scheduled to operate for a pilot period
to coincide with the pilot period for the
Plan to Address Extraordinary Market
Volatility (the ‘‘Limit Up-Limit Down
3 See Securities Exchange Act Release No. 62886
(September 10, 2010), 75 FR 56613 (September 16,
2010) (SR–NASDAQ–2010–076).
4 See Securities Exchange Act Release No. 68819
(February 1, 2013), 78 FR 9438 (February 8, 2013)
(SR–NASDAQ–2013–022).
5 See Securities Exchange Act Release No. 72434
(June 19, 2014), 79 FR 36110 (June 25, 2014) (SR–
NASDAQ–2014–044).

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Plan’’ or ‘‘LULD Plan’’).6 In April 2019,
the Commission approved an
amendment to the LULD Plan for it to
operate on a permanent, rather than
pilot, basis.7 In light of that change, the
Exchange amended Equity 11, Rule
11890 to untie the pilot program’s
effectiveness from that of the LULD Plan
and to extend the pilot’s effectiveness to
the close of business on October 18,
2019.8 Subsequently, the Exchange
amended Rule 11890 to extend the
pilot’s effectiveness to the close of
business on April 20, 2021.9
The Exchange now proposes to amend
Equity 11, Rule 11890 to extend the
pilot’s effectiveness for a further six
months until the close of business on
October 20, 2021. If the pilot period is
not either extended, replaced or
approved as permanent, the prior
versions of paragraphs (a)(2)(C), (c)(1),
(b)(i), and (b)(ii) shall be in effect, and
the provisions of paragraphs (g) through
(i) shall be null and void.10 In such an
event, the remaining sections of Rule
11890 would continue to apply to all
transactions executed on the Exchange.
The Exchange understands that the
other national securities exchanges and
Financial Industry Regulatory Authority
(‘‘FINRA’’) will also file similar
proposals to extend their respective
clearly erroneous execution pilot
programs, the substance of which are
identical to Rule 11890.
The Exchange does not propose any
additional changes to Equity 11, Rule
11890. Extending the effectiveness of
Rule 11890 for an additional six months
will provide the Exchange and other
self-regulatory organizations additional
time to consider whether further
amendments to the clearly erroneous
execution rules are appropriate.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
requirements of Section 6(b) of the
Act,11 in general, and Section 6(b)(5) of
the Act,12 in particular, in that it is
6 See Securities Exchange Act Release No. 67091
(May 31, 2012), 77 FR 33498 (June 6, 2012) (the
‘‘Limit Up-Limit Down Release’’).
7 See Securities Exchange Act Release No. 85623
(April 11, 2019), 84 FR 16086 (April 17, 2019)
(approving Eighteenth Amendment to LULD Plan).
8 See Securities Exchange Act Release No. 85603
(April 11, 2019), 84 FR 16064 (April 17, 2019) (SR–
NASDAQ–2019–028).
9 See Securities Exchange Act Release No. 90202
(October 15, 2020), 85 FR 67030 (October 21, 2020)
(SR–NASDAQ–2020–070).
10 See notes 3–5, supra. The prior versions of
paragraphs (a)(2)(C), (c)(1), (b)(i), and (b)(ii)
generally provided greater discretion to the
Exchange with respect to breaking erroneous trades.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).

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