60 Day Notice

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Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices

stemming from the outbreak of COVID–
19 and permit firms to rely on electronic
signatures to satisfy the signature
requirements of Exchange Rule 3104(c)
and Interpretation and Policy .03, which
may reduce or eliminate an operational
backlog, ultimately benefiting the
investing public. Moreover, the
proposed rule changes do not impose
any significant burden on competition
because they will apply uniformly to all
similarly situated members and
associated persons of members. Also, as
stated above, the proposed rule changes
are substantively the same as changes
made by FINRA. Second, waiver of the
30-day operative delay would also allow
the Exchange to implement the
proposed continuing education changes
noted above thereby reducing the
possibility of a significant regulatory
gap between the FINRA and Exchange
Rules. This is consistent with the
protection of investors and the public
interest by providing more uniform
standards across the securities industry
and helping to avoid confusion for
members of the Exchange that are also
FINRA members. Accordingly, the
Commission hereby waives the 30-day
operative delay and designates the
proposal operative upon filing.64
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.
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:

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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–
PEARL–2022–25 on the subject line.
64 For

purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule change’s impact on efficiency,
competition, and capital formation. See 15 U.S.C.
78c(f).

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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–PEARL–2022–25. 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
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;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
All submissions should refer to File
Number SR–PEARL–2022–25 and
should be submitted on or before July
28, 2022.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.65
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022–14397 Filed 7–6–22; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–359, OMB Control No.
3235–0410]

Proposed Collection; Comment
Request; Extension: Rules 17h–1T and
17h–2T
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,

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65 17

CFR 200.30–3(a)(12).

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100 F Street NE, Washington, DC
20549–2736
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 Rules 17h–1T and 17h–
2T (17 CFR 240.17h–1T and 17 CFR
240.17h–2T), 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.
Rule 17h–1T requires a covered
broker-dealer to maintain and preserve
records and other information
concerning certain entities that are
associated with the broker-dealer. This
requirement extends to the financial and
securities activities of the holding
company, affiliates and subsidiaries of
the broker-dealer that are reasonably
likely to have a material impact on the
financial or operational condition of the
broker-dealer. Rule 17h–2T requires a
covered broker-dealer to file with the
Commission quarterly reports and a
cumulative year-end report concerning
the information required to be
maintained and preserved under Rule
17h–1T.
The collection of information required
by Rules 17h–1T and 17h–2T,
collectively referred to as the ‘‘risk
assessment rules’’, is necessary to
enable the Commission to monitor the
activities of a broker-dealer affiliate
whose business activities are reasonably
likely to have a material impact on the
financial and operational condition of
the broker-dealer. Without this
information, the Commission would be
unable to assess the potentially
damaging impact of the affiliate’s
activities on the broker-dealer.
There are currently 235 respondents
that must comply with Rules 17h–1T
and 17h–2T. Each of these 235
respondents are estimated to require 10
hours per year to maintain the records
required under Rule 17h–1T, for an
aggregate estimated annual burden of
2,350 hours (235 respondents × 10
hours). In addition, each of these 235
respondents must make five annual
responses under Rule 17h–2T. These
five responses are estimated to require
14 hours per respondent per year for an
aggregate estimated annual burden of
3,290 hours (235 respondents × 14
hours).
In addition, new respondents must
draft an organizational chart required
under Rule 17h–1T and establish a
system for complying with the risk

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Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices
assessment rules. The staff estimates
that drafting the required organizational
chart requires one hour and establishing
a system for complying with the risk
assessment rules requires three hours.
Based on the reduction in the number
of filers in recent years, the staff
estimates there will be zero new
respondents, and thus, a corresponding
estimated burden of zero hours for new
respondents. Thus, the total compliance
burden per year is approximately 5,640
burden hours (2,350 hours + 3,290
hours).
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 will have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of 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
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 by September 6, 2022.
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 John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: June 30, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022–14392 Filed 7–6–22; 8:45 am]

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BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–95188; File No. SR–NSCC–
2022–008]

Self-Regulatory Organizations;
National Securities Clearing
Corporation; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Decommission the
Insurance Profile Service, Adjust Fees
for Insurance Information Exchange
Service and Make Certain Other
Corrections in the Rules
June 30, 2022.

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 June 23,
2022, National Securities Clearing
Corporation (‘‘NSCC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the clearing agency. NSCC filed the
proposed rule change pursuant to
Section 19(b)(3)(A) of the Act 3 and
subparagraphs (f)(2) 4 and (f)(4) 5 of Rule
19b–4 thereunder. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
(a) The proposed rule change of NSCC
is annexed [sic] hereto as Exhibit 5 and
consists of modifications to Rule 57 and
Addendum A of NSCC’s Rules &
Procedures (‘‘Rules’’) in order to (i)
decommission the Insurance Profile
service, (ii) adjust the fees for the
Insurance Information Exchange service
(‘‘IIEX’’) to (a) provide for fees for
product data that is being moved from
Insurance Profile to IIEX and (b) adjust
certain fees for service providers and
(iii) make certain other corrections to
the Rules, as described below.6
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission, the
clearing agency included statements
concerning the purpose of and basis for
the proposed rule change and discussed
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(2).
5 17 CFR 240.19b–4(f)(4).
6 Capitalized terms used herein and not otherwise
defined shall have the meaning assigned to such
terms in the Rules, available at http://dtcc.com/∼/
media/Files/Downloads/legal/rules/nscc_rules.pdf.
2 17

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40567

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
clearing agency has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of such statements.
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
1. Purpose
NSCC is proposing to move the
processing of certain product data that
is currently being processed through
Insurance Profile to IIEX and
decommission Insurance Profile.
Following the proposed changes,
product data that is currently being
processed through Insurance Profile will
be processed through IIEX. The fees for
the use of IIEX for processing of such
product data will be moved to IIEX in
Addendum A of the Rules but will
remain the same as the fees currently
charged for the processing of such
product data through Insurance Profile.
NSCC is also proposing to remove fees
for service providers using IIEX for
policy data and proposing to add fees
for service providers using IIEX for
product data.
Finally, NSCC is proposing to correct
incorrect references to ‘‘IPS’’ and ‘‘IPS
Data’’ in the Rules.
The proposed changes would not
have a substantial impact on I&RS
Members (as defined below). I&RS
Members would use IIEX rather than
Insurance Profile to process product
data, but the fees for processing such
product data would not change.
Following the proposed changes, service
providers would be charged for
processing product data using IIEX but
would not be charged for processing
policy data through IIEX.
(a) Background
Insurance and Retirement Processing
Services (‘‘I&RS’’) provides for
transmission of I&RS Data,7 including
annuity and life insurance policy
applications and premiums, licensing
and appointments, fees and expenses,
commission payments, reporting of
client positions and valuations, asset
pricing, financial activity reporting and
annuity customer account transfers.
Entities that use I&RS services include
7 I&RS Data is data and information relating to
I&RS Eligible Products. Section 1.(a) of Rule 57,
supra note 6. An ‘‘I&RS Eligible Product’’ means
insurance products, retirement or other benefit
plans or programs that are identified by NSCC as
eligible for processing through its I&RS. See
Definition of I&RS Eligible Product, Rule 1 and
Section 1.(d) of Rule 3, id.

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