Federal Register / Vol. 80, No. 70 / Monday, April 13, 2015 / Notices 19705 

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

2 17 CFR 240.19b–4. 

OFFICE OF PERSONNEL 

MANAGEMENT 

Submission for Review: Election 

Regarding Payment of Health and/or 

Life Insurance Premiums (Negative Net 

Annuity), RI 79–31, 3206–XXXX 

AGENCY: U.S. Office of Personnel 

Management. 

ACTION: 60-day notice and request for 

comments. 

SUMMARY: The Retirement Services, 

Office of Personnel Management (OPM) 

offers the general public and other 

Federal agencies the opportunity to 

comment on a new information 

collection, Election Regarding Payment 

of Health and/or Life Insurance 

Premiums (Negative Net Annuity), RI 

79–31. As required by the Paperwork 

Reduction Act of 1995, (Pub. L. 104–13, 

44 U.S.C. chapter 35) as amended by the 

Clinger-Cohen Act (Pub. L. 104–106), 

OPM is soliciting comments for this 

collection. 

DATES: Comments are encouraged and 

will be accepted until June 12, 2015. 

This process is conducted in accordance 

with 5 CFR 1320.1. 

ADDRESSES: Interested persons are 

invited to submit written comments on 

the proposed information collection to 

the U.S. Office of Personnel 

Management, Retirement Services, 1900 

E. Street NW., Room 2349, Washington, 

DC 20415–3500, Attention: Alberta 

Butler, or sent by email to 

Alberta.Butler@opm.gov. 

FOR FURTHER INFORMATION CONTACT: A 

copy of this ICR, with applicable 

supporting documentation, may be 

obtained by contacting the Retirement 

Services Publications Team, Office of 

Personnel Management, 1900 E. Street 

NW., Room 3316–AC, Washington, DC 

20503, Attention: Cyrus S. Benson or 

sent by email to Cyrus.Benson@

opm.gov. 

SUPPLEMENTARY INFORMATION: The Office 

of Management and Budget is 

particularly interested in comments 

that: 

1. Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

2. Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

3. Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

4. Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

Title 5, U.S. Code, chapter 84, section 

8905a, and chapter 87, section 8707 

provides that the proper amount of 

health benefit and life insurance 

premiums are withheld from the 

annuity of retirees, survivors, and 

former spouses. There are instances 

when annuity is insufficient to withhold 

the cost of premiums. Title 5, Code of 

Federal Regulations, part 890.304(b) 

provide instructions for annuitants and 

survivors to elect a health plan with a 

withholding that is not in excess of the 

annuity. It informs individuals or their 

rights in the event an election is not 

made within a time limit. Title 5, Code 

of Federal Regulations part 890.806(m) 

addresses actions required by former 

spouses. Individuals have an option to 

elect a less expensive plan or to make 

direct payments. Form RI 79–31 is 

needed to provide the individual with 

an opportunity to choose a less costly 

plan for which deductions can be 

withheld from the payment from the 

Civil Service Retirement and Disability 

Fund, or to be advised of their option 

to make direct out-of pocket payment to 

the retirement fund. 

The appropriate regulations for 

making life insurance elections that do 

not exceed annuity or to make direct 

payment to the retirement fund are 

found in title 5, Code of Federal 

Regulations, part 870–401—870–405. 

This form is a combination of two 

forms. Rather than collect information 

separately, the RI 79–31 is combined to 

collect election decisions on health and 

life insurance coverage. 

Analysis 

Agency: Retirement Operations, 

Retirement Services, Office of Personnel 

Management. 

Title: Election Regarding Payment of 

Health and/or Life Insurance Premiums 

(Negative Net Annuity). 

OMB Number: 3206–XXXX. 

Frequency: On occasion. 

Affected Public: Individuals or 

households. 

Number of Respondents: 1,000. 

Estimated Time per Respondent: 20 

minutes. 

Total Burden Hours: 333 hours. 

U.S. Office of Personnel Management. 

Katherine Archuleta, 

Director. 

[FR Doc. 2015–08460 Filed 4–10–15; 8:45 am] 

BILLING CODE 6325–38–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74668; File No. SR–CBOE– 

2015–032] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the Fees 

Schedule 

April 7, 2015. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 27, 

2015, Chicago Board Options Exchange, 

Incorporated (the ‘‘Exchange’’ or 

‘‘CBOE’’) filed with the Securities and 

Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III 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 amend its 

Fees Schedule. The text of the proposed 

rule change is available on the 

Exchange’s Web site (http://

www.cboe.com/AboutCBOE/

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

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. 

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19706 Federal Register / Vol. 80, No. 70 / Monday, April 13, 2015 / Notices 

3Rule 1.1(qqq) defines ‘‘Regular Trading Hours’’ 

as the hours during which transactions in options 

may be made on the Exchange as set forth in Rule 

6.1 (which hours are from 8:30 a.m. to either. 3:00 

p.m. or 3:15 p.m. Chicago time). 

4 15 U.S.C. 78f(b). 

5 15 U.S.C. 78f(b)(4). 

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78f(b)(1). 

8 15 U.S.C. 78s(b)(3)(A). 

9 17 CFR 240.19b–4(f). 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to adopt a 

Trading Permit Holder Regulatory Fee of 

$90 per month, per Regular Trading 

Hours 3 (‘‘RTH’’) Trading Permit, 

applicable to all Trading Permit Holders 

(‘‘TPHs’’). Specifically, the Exchange is 

proposing to adopt this fee as the 

Exchange’s regulatory costs have 

increased and in order to help more 

closely cover the costs of regulating all 

TPHs and performing regulatory 

responsibilities. The Exchange believes 

the proposed fee amount is modest, as 

well as reasonable for TPHs of all sizes. 

The Trading Permit Holder Regulatory 

Fee will be non-refundable and assessed 

through the integrated billing system 

during the first week of the following 

month. Additionally, the Exchange 

notes that if a Trading Permit is issued 

during a calendar month after the first 

trading day of the month, the Trading 

Permit Holder Regulatory Fee for the 

Trading Permit for that calendar month 

will be prorated based on the remaining 

trading days in the calendar month. 

Finally, as noted above, the proposed 

fee is applicable during RTH only. As 

such, the Exchange proposes to remove 

‘‘(Also applies to ETH)(37)’’ from the 

Regulatory Fees header and relocate that 

language next the ‘‘Options Regulatory 

Fee (‘‘ORF’’)’’ and ‘‘DPM’s and Firm 

Designated Examining Authority Fee’’ 

so that it is clear which Regulatory fees 

are applicable during ETH. The 

Exchange notes that no substantive 

change is being made by this change. 

Rather, the Exchange believes this 

proposed rule change will maintain 

clarity in the Fees Schedule and avoid 

potential confusion. 

The proposed rule change is to take 

effect on April 1, 2015. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.4 Specifically, 

the Exchange believes the proposed rule 

change is consistent with Section 6(b)(4) 

of the Act,5 which provides that 

Exchange rules may provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

Trading Permit Holders and other 

persons using its facilities. Additionally, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 6 requirement that the rules of an 

exchange not be designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes the proposed 

fee change is reasonable because it is 

designed to recoup costs associated with 

performing its regulatory obligations 

with respect to TPHs. The proposed rule 

change will help the Exchange offset 

increased regulatory expenses, but not 

result in total regulatory revenue 

exceeding total regulatory costs. The 

Exchange believes it is equitable and not 

unfairly discriminatory because it will 

apply to all TPHs. Additionally, the 

Exchange believes it is reasonable, 

equitable and not unfairly 

discriminatory to assess the fee per 

Trading Permit because there is 

generally a correlation between an 

increased number of Trading Permits 

and business on the Exchange, which in 

turn requires more resources to regulate 

that business. As such, the Exchange 

believes assessing this fee on a per 

Trading Permit basis is the most 

equitable method of assessing this fee. 

The Exchange also believes the 

proposed rule change is consistent with 

Section 6(b)(1) of the Act,7 which 

provides that the Exchange be organized 

and have the capacity to be able to carry 

out the purposes of the Act and to 

enforce compliance by the Exchange’s 

TPHs and persons associated with its 

TPHs with the Act, the rules and 

regulations thereunder, and the rules of 

the Exchange. The proposed rule change 

is designed to fund the Exchange’s 

regulatory program and to help more 

closely cover the costs of regulating 

TPHs for which the Exchange has a 

regulatory responsibility. Thus, the 

proposed changes will help the 

Exchange to enforce compliance of its 

TPHs with the Act and Exchange rules. 

Finally, the Exchange believes the 

proposed change to relocate the 

language ‘‘(Also applies to ETH)(37)’’ 

makes clear to market participants 

which Regulatory fees apply during 

ETH and reduces potential confusion. 

The alleviation of potential confusion 

will remove impediments to and perfect 

the mechanism of a free and open 

market and a national market system, 

and, in general, protect investors and 

the public interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange believes any burden on 

competition imposed by the proposed 

rule change is outweighed by the need 

to help the Exchange to adequately fund 

its regulatory activities to ensure 

compliance with the Exchange Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 8 and paragraph (f) of Rule 

19b–4 9 thereunder. 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 will 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: 

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–CBOE–2015–032 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

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Federal Register / Vol. 80, No. 70 / Monday, April 13, 2015 / Notices 19707 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A). 

4 17 CFR 240.19b–4(f)(6)(iii). 

5See ISE Rule 720A and NYSE Arca Rule 6.89. 

See also Securities Exchange Act Release No. 72490 

(June 27, 2014), 79 FR 38105 (July 3, 2014) (SR– 

ISE–2014–34) (Notice of Filing and Immediate 

Effectiveness of Proposed Rule Change to Establish 

New Rule 720A). The proposed rule change is also 

based in part on Nasdaq OMX PHLX, LLC (‘‘PHLX’’) 

Rule 1092(c)(ii)(A), and in addition, is substantially 

similar to Chicago Board Options Exchange, Inc. 

(‘‘CBOE’’) Rule 6.25(a)(3). 

6 17 CFR 240.19b–4(f)(6)(iii). 7See supra note 5. 

All submissions should refer to File 

Number SR–CBOE–2015–032. 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 Web site (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 Web site 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–CBOE– 

2015–032 and should be submitted on 

or before May 4, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08379 Filed 4–10–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74666; File No. SR–BATS– 

2015–26] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change to Rule 20.6 To Adopt a 

New Provision To Account for 

Erroneous Trades Occurring From 

Disruptions and/or Malfunctions of 

Exchange Systems 

April 7, 2015. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 1, 

2015, BATS Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BATS’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Item II below, 

which Item has been prepared by the 

Exchange. The Exchange has designated 

this proposal as a ‘‘non-controversial’’ 

proposed rule change pursuant to 

Section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f)(6)(iii) thereunder,4 which 

renders it effective upon filing with the 

Commission. 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 the Substance 

of the Proposed Rule Change 

The Exchange proposes to amend 

Rule 20.6, Nullification and Adjustment 

of Options Transactions including 

Obvious Errors, to adopt a new 

provision to account for erroneous 

trades occurring from disruptions and/ 

or malfunctions of Exchange systems. 

The proposed rule change is based on 

the rules of NYSE Arca, Inc. (‘‘NYSE 

Arca’’) and the International Securities 

Exchange, LLC (‘‘ISE’’).5 Therefore, the 

Exchange has designated this proposal 

as non-controversial and provided the 

Commission with the notice required by 

Rule 19b–4(f)(6)(iii) under the Act.6 The 

text of the proposed rule change is 

available at the Exchange’s Web site at 

www.batstrading.com, 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 

Exchange has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant parts 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 

Rule 20.6, Nullification and Adjustment 

of Options Transactions including 

Obvious Errors, to adopt a new 

provision to account for erroneous 

trades occurring from disruptions and/ 

or malfunctions of Exchange systems. 

Specifically, proposed paragraph (k) to 

Rule 20.6 would provide that any 

transaction that arises out of a 

‘‘verifiable systems disruption or 

malfunction’’ in the use or operation of 

an Exchange automated quotation, 

dissemination, execution, or 

communication system may either be 

nullified or adjusted by an Official. 

Under the proposed paragraph (k), an 

Official may act, on his or her own 

motion, to review erroneous 

transactions. The proposed rule change 

is based on the rules of NYSE Arca and 

the ISE.7

According to the proposal, in the 

event of any verifiable disruption or 

malfunction in the use or operation of 

an Exchange automated quotation, 

dissemination, execution, or 

communication system, in which the 

nullification or modification of 

transactions may be necessary to 

maintain a fair and orderly market or 

the protection of investors and the 

public interest exists, an Official, on his 

or her own motion, may review such 

transactions and declare the 

transactions occurring during such 

period null and void or adjust the price 

of those transaction to their Theoretical 

Price, as defined in paragraph (b) of 

Rule 20.6. Pursuant to the proposal, an 

Official, absent extraordinary 

circumstances, must initiate action 

under this authority within sixty (60) 

minutes of the occurrence of the 

erroneous transaction that was a result 

of a verifiable disruption or 

malfunction. 

Each Options Member involved in the 

transaction shall be notified as soon as 

practicable, and any Options Member 

aggrieved by the action may appeal such 

action in accordance with the 

provisions of proposed renumbered 

paragraph (l) of Rule 20.6. Current 

subparagraph (k), which sets for the 

appeals process of decisions made by an 

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