79984 Federal Register / Vol. 89, No. 190 / Tuesday, October 1, 2024 / Notices 

36 15 U.S.C. 78q–1(b)(3)(F). 

37 15 U.S.C. 78q–1(b)(3)(I). 

38 Id. 39 17 CFR 200.30–3(a)(12). 

of investors and the public interest 

consistent with Section 17A(b)(3)(F) of 

the Exchange Act by providing more 

control to Clearing Members in 

allocating give-ups. For example, a 

Given-Up Clearing Member will have 

control to designate the account to 

which positions should be allocated and 

a Giving-Up Clearing Member will no 

longer be required to designate the 

specific account when it may or may not 

know the correct account. OCC believes 

that this would protect investors by 

reducing potential operational risk 

arising from a Giving-Up Clearing 

Member selecting the incorrect account 

of the Given-Up Clearing Member. This 

change would also provide a more 

efficient means for Giving-Up Clearing 

Members to ensure positions are 

allocated to the desired account, which 

efficiencies OCC believes helps removes 

impediments to and perfect the 

mechanism of a national system for the 

prompt and accurate clearance and 

settlement of securities transactions.36

(B) Clearing Agency’s Statement on 

Burden on Competition 

Section 17A(b)(3)(I) of the Exchange 

Act 37 requires that the rules of a 

clearing agency not impose any burden 

on competition not necessary or 

appropriate in furtherance of the 

purposes of the Exchange Act. OCC does 

not believe that the proposed rule 

changes related to discontinuing OCC’s 

settlement of fees and commissions for 

Clearing Member CMTA arrangements, 

elimination of the unused associated 

Market Maker account subtype, and 

rendering OTC option services 

inoperative would impact or impose any 

burden on competition. Neither of these 

services have been used by Clearing 

Members for at least six years, and the 

proposed changes would apply equally 

to all Clearing Members. Regarding the 

proposed rule change to no longer 

require a Clearing Member to keep 

records of its counterparties to 

confirmed trades, OCC believes that this 

change will remove any burden on 

competition that could arise from 

Clearing Members developing solutions 

to support functionality not required for 

clearing and settlement purposes. In 

that regard, OCC believes that this 

proposed rule change promotes greater 

consistency with Section 17A(b)(3)(I) of 

the Exchange Act.38

For the foregoing reasons, OCC 

believes that the proposed rule change 

is in the public interest, would be 

consistent with the requirements of the 

Exchange Act applicable to clearing 

agencies, and either would not impact 

or impose a burden on competition or 

would help alleviate potential burdens 

on competition. 

(C) Clearing Agency’s Statement on 

Comments on the Proposed Rule Change 

Received From Members, Participants or 

Others 

Written comments were not and are 

not intended to be solicited with respect 

to the proposed rule change and none 

have been received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) by order approve or disapprove 

such proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

The proposal shall not take effect 

until all regulatory actions required 

with respect to the proposal are 

completed. 

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: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules-regulations/self-regulatoryorganization-rulemaking); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

OCC–2024–013 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Vanessa Countryman, Secretary, 

Securities and Exchange Commission, 

100 F Street NE, Washington, DC 

20549–1090. 

All submissions should refer to file 

number SR–OCC–2024–013. 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 (https://www.sec.gov/ 

rules-regulations/self-regulatoryorganization-rulemaking). 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 

a.m. and 3 p.m. Copies of such filing 

also will be available for inspection and 

copying at the principal office of OCC 

and on OCC’s website at https://

www.theocc.com/CompanyInformation/Documents-and-Archives/ 

By-Laws-and-Rules. 

Do not include personal identifiable 

information in submissions; you should 

submit only information that you wish 

to make available publicly. We may 

redact in part or withhold entirely from 

publication submitted material that is 

obscene or subject to copyright 

protection. 

All submissions should refer to file 

number SR–OCC–2024–013 and should 

be submitted on or before October 22, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.39

Vanessa Countryman, 

Secretary. 

[FR Doc. 2024–22412 Filed 9–30–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–562, OMB Control No. 

3235–0624] 

Submission for OMB Review; 

Comment Request; Extension: 

Regulation R, Rule 701 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

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’’) has submitted to the 


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Federal Register / Vol. 89, No. 190 / Tuesday, October 1, 2024 / Notices 79985 

1 1,000 banks × 2 notices = 2,000 notices; (2,000 

notices × 15 minutes) = 30,000 minutes/60 minutes 

= 500 hours. 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3The term ‘‘Market Makers’’ refers to ‘‘Lead 

Market Makers’’, ‘‘Primary Lead Market Makers’’ 

and ‘‘Registered Market Makers’’ collectively. See 

Exchange Rule 100. 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Regulation R, Rule 701 (17 CFR 247.701) 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78a et seq.). 

Regulation R, Rule 701 requires a 

broker or dealer (as part of a written 

agreement between the bank and the 

broker or dealer) to notify the bank if the 

broker or dealer makes certain 

determinations regarding the financial 

status of the customer, a bank 

employee’s statutory disqualification 

status, and compliance with suitability 

or sophistication standards. 

The Commission estimates there are 

3,402 registered brokers or dealers that 

would, on average, notify 1,000 banks 

approximately two times annually about 

a determination regarding a customer’s 

high net worth or institutional status or 

suitability or sophistication standing as 

well as a bank employee’s statutory 

disqualification status. Based on these 

estimates, the Commission anticipates 

that Regulation R, Rule 701 would result 

in brokers or dealers making 

approximately 2,000 notifications to 

banks per year. The Commission further 

estimates (based on the level of 

difficulty and complexity of the 

applicable activities) that a broker or 

dealer would spend approximately 15 

minutes per notice to a bank. Therefore, 

the estimated total annual third-party 

disclosure burden for the requirements 

in Regulation R, Rule 701 is 500 1 hours 

for brokers or dealers. 

The retention period for the 

recordkeeping requirement under Rule 

17Ad–2(c), (d), and (h) is not less than 

two years following the date the notice 

is submitted. The recordkeeping 

requirement under this rule is 

mandatory to assist the Commission in 

monitoring transfer agents who fail to 

meet the minimum performance 

standards set by the Commission rule. 

This rule does not involve the collection 

of confidential information. Please note 

that a transfer agent is not required to 

file under the rule unless it does not 

meet the minimum performance 

standards for turnaround, processing or 

forwarding items received for transfer 

during a month. 

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 by 

October 31, 2024 to: (i) 

www.reginfo.gov/public/do/PRAMain 

and (ii) Austin Gerig, Director/Chief 

Data Officer, Securities and Exchange 

Commission, c/o Oluwaseun Ajayi, 100 

F Street NE, Washington, DC 20549, or 

by sending an email to: PRA_Mailbox@

sec.gov. 

Dated: September 25, 2024. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–22402 Filed 9–30–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101191; File No. SR–MIAX– 

2024–38] 

Self-Regulatory Organizations; Miami 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Make a Number of Minor, 

Non-Substantive Edits to Exchange’s 

Rulebook and Delete All References to 

Mini-Options in the Rulebook 

September 25, 2024. 

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 September 17, 2024, Miami 

International Securities Exchange, LLC 

(‘‘MIAX’’ or ‘‘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 proposes to make a 

number of minor, non-substantive edits 

to Exchange’s Rulebook and delete all 

references to mini-options in the 

Rulebook. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://www.miaxglobal.com/markets/ 

us-options/miax-options/rule-filings, at 

MIAX’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 

Proposal To Amend Exchange Rule 100 

The Exchange proposes to amend 

Exchange Rule 100 to make minor, nonsubstantive edits and clarifying changes 

to provide accuracy and precision 

within the rule text. 

Specifically, the Exchange proposes to 

amend the definition of Market Makers 3

in Exchange Rule 100 to move the 

comma after ‘‘Lead Market Makers’’ 

from outside to inside the quotation 

marks for grammatical correctness and 

clarity in the rule text. Additionally, the 

Exchange proposes to add a comma 

before the conjunction ‘‘and’’ (i.e. 

between ‘‘Primary Lead Market Makers’’ 

and ‘‘Registered Market Makers’’), 

where the comma will be placed inside 

the closing quotation mark. 

Accordingly, with the proposed 

changes, the definition of Market 

Makers in Exchange Rule 100 will read 

as follows: 

The term ‘‘Market Makers’’ refers to ‘‘Lead 

Market Makers,’’ ‘‘Primary Lead Market 

Makers,’’ and ‘‘Registered Market Makers’’ 

collectively. 

Proposal To Amend Interpretations and 

Policies .01 of Exchange Rule 521 

The Exchange proposes to amend 

Interpretations and Policies .01 of 

Exchange Rule 521 to make a minor, 

non-substantive edit to provide 

accuracy and precision within the rule 

text. 

Specifically, the Exchange proposes to 

amend Interpretations and Policies .01 


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