30 Day Notice

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Federal Register / Vol. 84, No. 201 / Thursday, October 17, 2019 / Notices

proposed classification changes to the
Mail Classification Schedule (MCS).1
The intended effective date is January
26, 2020. Notice at 1. The Notice, which
was filed pursuant to 39 U.S.C. 3622
and 39 CFR part 3010, triggers a noticeand-comment proceeding.2
Contents of filing. The Postal Service’s
filing consists of the Notice, which the
Postal Service represents addresses the
data and information required under 39
CFR 3010.12; four attachments
(Attachments A–D) to the Notice; and
seven sets of workpapers filed as library
references.
Attachment A presents the proposed
price and related product description
changes to the MCS. Notice, Attachment
A. Attachments B and C address
workshare discounts and the price cap
calculation, respectively. Id.
Attachments B and C. Attachment D
presents the promotions schedule. Id.
Attachment D.
Several library references present
supporting financial documentation for
the five classes of mail. Notice at 4–5
nn.9–11. The Postal Service filed one
library reference pertaining to the two
international mail products within FirstClass Mail (Outbound Single-Piece
First-Class Mail International and
Inbound Letter Post) under seal and
applied for non-public treatment of
those materials.3
Planned price adjustments. The Postal
Service’s planned percentage changes
by class are, on average, as follows:

identifies the impact on the MCS in
Attachment A. Id. at 37–39; id.
Attachment A.
Calendar year 2020 promotions. The
Postal Service seeks approval for the
following six promotions for the
indicated periods:
Tactile, Sensory and Interactive
Mailpiece Engagement Promotion
(February 1–July 31, 2020);
• Emerging and Advanced
Technology Promotion (March 1–
August 31, 2020);
• Earned Value Reply Mail Promotion
(April 1–June 30, 2020);
• Personalized Color Transpromo
Promotion (July 1–December 31, 2020);
• Mobile Shopping Promotion
(August 1–December 31, 2020); and
• Informed Delivery Promotion
(September 1–November 30, 2020).
Id. Attachment D.

II. Initial Administrative Actions
Pursuant to 39 CFR 3010.11(a), the
Commission establishes Docket No.
R2020–1 to consider the planned price
adjustments for market dominant postal
products and services, as well as the
related classification changes, identified
in the Notice. The Commission invites
comments from interested persons on
whether the Postal Service’s filing is
consistent with the applicable statutory
and regulatory requirements, including
39 U.S.C. 3622 and 39 CFR part 3010.
The Commission further notes that any
issues specifically related to Docket No.
R2019–1 First-Class Mail rates and the
Planned price Carlson decision will be addressed in a
separate order in Docket No. R2019–1
Market dominant class
adjustment
(%)
and will not be adjudicated as part of
the instant proceeding. Comments are
First-Class Mail .....................
1.919 due no later than October 29, 2019.4
USPS Marketing Mail ...........
1.891
The public portions of the Postal
Periodicals ............................
1.900
Service’s filing are available for review
Package Services .................
1.892
Special Services ...................
1.905 on the Commission’s website (http://
www.prc.gov). Comments and other
material filed in this proceeding will be
Id. at 4.
Price adjustments for products within available for review on the
Commission’s website, unless the
classes vary from the average. See, e.g.,
information contained therein is subject
id. at 7, 22 (Table 5 showing range for
to an application for non-public
First-Class Mail products and Table 7
showing range for USPS Marketing Mail treatment. The Commission’s rules on
non-public materials (including access
products). Most of the planned
to documents filed under seal) appear in
adjustments entail increases to market
39 CFR part 3007.
dominant rates and fees; however, in a
few instances, the Postal Service
4 The Commission is mindful of the Comments on
proposes either no adjustment or a
Procedure of the National Postal Policy Council, the
decrease. See id. at 7.
Greeting Card Association, and the Major Mailers
Proposed classification changes. The
Association, October 10, 2019 and the United States
Postal Service Response to Procedural Schedule
Postal Service proposes numerous
Comments, October 10, 2019. The Commission
classification changes in its Notice and
1 United

States Postal Service Notice of MarketDominant Price Change, October 9, 2019 (Notice).
2 This is a Type 1–B proceeding. See 39 CFR part
3010, subparts A–C for additional information.
3 See USPS Notice of Filing USPS–LR–R2020–1/
NP1, October 9, 2019, Attachment 1.

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continues to use the 20-day comment period as set
forth in 39 CFR 3010.11(a)(5); however, the
Commission notes that in order to sufficiently
address the issues identified in the Carlson
decision, its determination may exceed the 14-day
deadline set forth in 39 CFR 3010.11(d). See Carlson
v. Postal Regulatory Commission, No. 18–1328, slip
op. (D.C. Cir. Sept. 13, 2019).

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Pursuant to 39 U.S.C. 505, the
Commission appoints Anne C.
O’Connor to represent the interests of
the general public (Public
Representative) in this proceeding.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. R2020–1 to consider the planned
price adjustments for market dominant
postal products and services, as well as
the related classification changes,
identified in the Postal Service’s
October 9, 2019 Notice.
2. Comments on the planned price
adjustments and related classification
changes are due no later than October
29, 2019.
3. Pursuant to 39 U.S.C. 505, Anne C.
O’Connor is appointed to serve as an
officer of the Commission (Public
Representative) to represent the
interests of the general public in this
proceeding.
4. The Commission directs the
Secretary of the Commission to arrange
for prompt publication of this notice in
the Federal Register.
By the Commission.
Darcie S. Tokioka,
Acting Secretary.
[FR Doc. 2019–22651 Filed 10–16–19; 8:45 am]
BILLING CODE 7710–FW–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–601, OMB Control No.
3235–0673]

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: Rule 15c3–5.

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.)
(‘‘PRA’’), the Securities and Exchange
Commission (‘‘Commission’’) has
submitted to the Office of Management
and Budget (‘‘OMB’’) a request for
approval of extension of the previously
approved collection of information
provided for in Rule 15c3–5 (17 CFR
240.15c3–5) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’).
Rule 15c3–5 under the Exchange Act
requires brokers or dealers with access
to trading directly on an exchange or
alternative trading system (‘‘ATS’’),

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Federal Register / Vol. 84, No. 201 / Thursday, October 17, 2019 / Notices
including those providing sponsored or
direct market access to customers or
other persons, to implement risk
management controls and supervisory
procedures reasonably designed to
manage the financial, regulatory, and
other risks of this business activity.
The rule requires brokers or dealers to
establish, document, and maintain
certain risk management controls and
supervisory procedures as well as
regularly review such controls and
procedures, and document the review,
and remediate issues discovered to
assure overall effectiveness of such
controls and procedures. Each such
broker or dealer is required to preserve
a copy of its supervisory procedures and
a written description of its risk
management controls as part of its books
and records in a manner consistent with
Rule 17a–4(e)(7) under the Exchange
Act. Such regular review is required to
be conducted in accordance with
written procedures and is required to be
documented. The broker or dealer is
required to preserve a copy of such
written procedures, and documentation
of each such review, as part of its books
and records in a manner consistent with
Rule 17a–4(e)(7) under the Exchange
Act, and Rule 17a–4(b) under the
Exchange Act, respectively.
In addition, the Chief Executive
Officer (or equivalent officer) is required
to certify annually that the broker or
dealer’s risk management controls and
supervisory procedures comply with the
rule, and that the broker-dealer
conducted such review. Such
certifications are required to be
preserved by the broker or dealer as part
of its books and records in a manner
consistent with Rule 17a–4(b) under the
Exchange Act. Compliance with Rule
15c3–5 is mandatory.
Respondents consist of broker-dealers
with access to trading directly on an
exchange or ATS. The Commission
estimates that there are currently 570
respondents. To comply with Rule
15c3–5, these respondents will spend a
total of approximately 91,200 hours per
year (160 hours per broker-dealer × 570
broker-dealers = 91,200 hours). At an
average internal cost per burden hour of
approximately $358.51, the resultant
total related internal cost of compliance
for these respondents is $32,696,340 per
year (91,200 burden hours multiplied by
approximately $358.51/hour). In
addition, for hardware and software
expenses, the Commission estimates
that the average annual external cost
would be approximately $20,500 per
broker-dealer, or $11,685,000 in the
aggregate ($20,500 per broker-dealer ×
570 brokers and dealers = $11,685,000).

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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. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: October 10, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–22580 Filed 10–16–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87279; File No. SR–
PEARL–2019–28]

Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Exchange
Rule 519, MIAX PEARL Order Monitor
October 10, 2019.

Pursuant to the provisions of 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 October 3, 2019, MIAX PEARL, LLC
(‘‘MIAX PEARL’’ or the ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) a
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 is filing a proposal to
amend Exchange Rule 519, MIAX
PEARL Order Monitor (‘‘MOM’’).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.

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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 proposes to amend
Exchange Rule 519, MIAX PEARL Order
Monitor (‘‘MOM’’) to remove a term in
the Exchange’s rule which creates an
ambiguity concerning the application of
the rule. Specifically, subsection (4) of
paragraph (a), Limit Orders to Sell,
provides that ‘‘[f]or options with a
National Best Bid (‘‘NBB’’) equal to or
greater than $0.25 the System 3 will
reject an incoming limit order that has
a limit price equal to or less than the
NBB by the lesser of (i) $2.50, or (ii)
50% of the NBB price.’’ The second
provision of the rule provides that,
‘‘[f]or options with an NBB of $0.25 or
less the System will accept any
incoming limit order.’’
The statements an NBB ‘‘equal to or
greater than $0.25’’ and ‘‘an NBB of
$0.25 or less’’ both contemplate the NBB
being equal to $0.25. The operation of
the rule requires a bifurcation at $0.25
and only one action (accepting or
rejecting an incoming order) can occur
when the NBB is equal to $0.25. The
desired behavior by the Exchange, for
limit orders to sell, is to accept an order
at any price when the NBB is equal to
$0.25 or less. Therefore the Exchange
proposes to remove the phrase ‘‘equal to
or’’ from the first sentence in the rule.
The new proposed rule text will
provide that, ‘‘[f]or options with a
National Best Bid (‘‘NBB’’) greater than
$0.25 the System will reject an
3 The term ‘‘System’’ means the automated
trading system used by the Exchange for the trading
of securities. See Exchange Rule 100.

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