Federal Register / Vol. 83, No. 169 / Thursday, August 30, 2018 / Notices 44331 

1 12 U.S.C. 5465(e)(1). 

2 17 CFR 240.19b–4(n)(1)(i). 

3On December 18, 2017, FICC filed the advance 

notice as proposed rule change SR–FICC–2017–022 

with the Commission pursuant to Section 19(b)(1) 

of the Act and Rule 19b–4 thereunder (‘‘Proposed 

Rule Change’’). 15 U.S.C. 78s(b)(1) and 17 CFR 

240.19b–4, respectively. The Proposed Rule Change 

was published in the Federal Register on January 

8, 2018. Securities Exchange Act Release No. 82427 

(January 2, 2018), 83 FR 854 (January 8, 2018) (SR– 

FICC–2017–022). On February 8, 2018, the 

Commission designated a longer period within 

which to approve, disapprove, or institute 

proceedings to determine whether to approve or 

disapprove the Proposed Rule Change. Securities 

Exchange Act Release No. 82670 (February 8, 2018), 

83 FR 6626 (February 14, 2018) (SR–DTC–2017– 

022, SR–FICC–2017–022, SR–NSCC–2017–018). On 

March 20, 2018, the Commission instituted 

proceedings to determine whether to approve or 

disapprove the Proposed Rule Change. Securities 

Exchange Act Release No. 82909 (March 20, 2018), 

83 FR 12990 (March 26, 2018) (SR–FICC–2017– 

022). On June 25, 2018, the Commission designated 

a longer period for Commission action on the 

proceedings to determine whether to approve or 

disapprove the Proposed Rule Change. Securities 

Exchange Act Release No. 83510 (June 25, 2018), 83 

FR 30791 (June 29, 2018) (SR–DTC–2017–022, SR– 

FICC–2017–022, SR–NSCC–2017–018). On June 28, 

2018, FICC filed Amendment No. 1 to the Proposed 

Rule Change, which was published in the Federal 

Register on July 19, 2018. Securities Exchange Act 

Release No. 83631 (July 13, 2018), 83 FR 34193 

(July 19, 2018) (SR–FICC–2017–022). FICC 

submitted a courtesy copy of Amendment No. 1 to 

the Proposed Rule Change through the 

Commission’s electronic public comment letter 

mechanism. Accordingly, Amendment No. 1 to the 

Proposed Rule Change has been publicly available 

on the Commission’s website at https://

www.sec.gov/rules/sro/ficc.htm since June 29, 2018. 

The Commission did not receive any comments. 

The proposal, as set forth in both the advance 

notice and the Proposed Rule Change, each as 

modified by Amendments No. 1, shall not take 

effect until all required regulatory actions are 

completed. 

SECURITIES AND EXCHANGE 

COMMISSION 

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 15c2–8, SEC File No. 270–421, 

OMB Control No. 3235–0481 

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’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 15c2–8 (17 CFR 

240.15c2–8). The Commission plans to 

submit this existing collection of 

information to the Office of 

Management and Budget for extension 

and approval. 

Rule 15c2–8 under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) requires broker-dealers to deliver 

preliminary and/or final prospectuses to 

certain people under certain 

circumstances. In connection with 

securities offerings generally, including 

initial public offerings (‘‘IPOs’’), the rule 

requires broker-dealers to take 

reasonable steps to distribute copies of 

the preliminary or final prospectus to 

anyone who makes a written request, as 

well as any broker-dealer who is 

expected to solicit purchases of the 

security and who makes a request. In 

connection with IPOs, the rule requires 

a broker-dealer to send a copy of the 

preliminary prospectus to any person 

who is expected to receive a 

confirmation of sale (generally, this 

means any person who is expected to 

actually purchase the security in the 

offering) at least 48 hours prior to the 

sending of such confirmation. This 

requirement is sometimes referred to as 

the ‘‘48 hour rule.’’ 

Additionally, managing underwriters 

are required to take reasonable steps to 

ensure that all broker-dealers 

participating in the distribution of or 

trading in the security have sufficient 

copies of the preliminary or final 

prospectus, as requested by them, to 

enable such broker-dealer to satisfy their 

respective prospectus delivery 

obligations pursuant to Rule 15c2–8, as 

well as Section 5 of the Securities Act 

of 1933. 

Rule 15c2–8 implicitly requires that 

broker-dealers collect information, as 

such collection facilitates compliance 

with the rule. There is no requirement 

to submit collected information to the 

Commission. In order to comply with 

the rule, broker-dealers participating in 

a securities offering must keep accurate 

records of persons who have indicated 

interest in an IPO or requested a 

prospectus, so that they know to whom 

they must send a prospectus. 

The Commission estimates that the 

time broker-dealers will spend 

complying with the collection of 

information required by the rule is 5,950 

hours for equity IPOs and 23,300 hours 

for other offerings. The Commission 

estimates that the total annualized cost 

burden (copying and postage costs) is 

$11,900,000 for IPOs and $932,000 for 

other offerings. 

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 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: Pamela Dyson, 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: August 27, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–18847 Filed 8–29–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83951; File No. SR–FICC– 

2017–806] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

No Objection to an Advance Notice, as 

Modified by Amendment No. 1, To 

Amend the Loss Allocation Rules and 

Make Other Changes 

August 27, 2018. 

On December 18, 2017, Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) advance 

notice SR–FICC–2017–806 pursuant to 

Section 806(e)(1) of Title VIII of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act entitled the 

Payment, Clearing, and Settlement 

Supervision Act of 2010 (‘‘Clearing 

Supervision Act’’) 1 and Rule 19b– 

4(n)(1)(i) under the Securities Exchange 

Act of 1934 (‘‘Act’’) 2 to amend the loss 

allocation rules and make other 

conforming and technical changes.3 The 


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