Federal Register / Vol. 90, No. 22 / Tuesday, February 4, 2025 / Notices 8959 

34See Notice, supra note 3, at 87916. 

35 15 U.S.C. 78f(b)(5). 

36 15 U.S.C. 78f(b)(4). 

37See 2011 Approval Order, supra note 30, at 

79265. 

38See Notice, supra note 3, at 87917. 

39 15 U.S.C. 78f(b)(5) and (8). 

40 15 U.S.C. 78f(b)(4). 

41 15 U.S.C. 78s(b)(2). 42 17 CFR 200.30–3(a)(12). 

greater future value to Nasdaq than will 

other issuers with lower market 

capitalizations by switching to its 

market.34 Based on the foregoing, the 

Commission finds that the proposal to 

modify the packages of complimentary 

services offered to Eligible Switches 

with a market capitalization of $750 

million or more that list on or after the 

effective date of this proposed rule 

change does not unfairly discriminate 

among issuers and therefore is 

consistent with section 6(b)(5) of the 

Act.35 For similar reasons, the 

Commission finds that, with the 

proposed changes to the provision of 

Market Advisory Tools, the packages of 

complimentary services are equitably 

allocated among issuers consistent with 

section 6(b)(4) of the Act.36

The Commission also finds that it is 

consistent with the Act for Nasdaq to 

modify the definition of an Eligible 

Switch in Listing Rule IM–5900–7(a)(2) 

to include companies switching their 

listing not only from the NYSE, as 

currently provided, but also from any 

other national securities exchange. In 

Nasdaq’s 2011 proposal to limit Eligible 

Switches only to companies switching 

their listing from the NYSE, Nasdaq 

stated that those listings would bring 

greater future value to Nasdaq.37 In the 

instant filing, Nasdaq states that 

expanding the definition of Eligible 

Switch to including listings from any 

national securities exchange is designed 

to increase competition with other 

national securities exchanges.38 The 

Commission finds that this aspect of the 

proposed change also does not unfairly 

discriminate among issuers and reflects 

the current competitive environment for 

exchange listings among national 

securities exchanges and is therefore 

consistent with sections 6(b)(5) and 

6(b)(8) of the Act.39 For similar reasons, 

the Commission finds that expanding 

the definition of ‘‘Eligible Switch’’ as 

proposed would allow complimentary 

services packages to remain equitably 

allocated among issuers consistent with 

section 6(b)(4) of the Act.40

IV. Conclusion 

It is therefore ordered, pursuant to 

section 19(b)(2) of the Act,41 that the 

proposed rule change (SR–NASDAQ– 

2024–059) be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.42

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–02150 Filed 2–3–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[OMB Control No. 3235–0787] 

Proposed Collection; Comment 

Request; Extension: Generic 

Clearance for Feedback to the SEC’s 

Office of the Advocate for Small 

Business Capital Formation 

Upon Written Request Copies Available 

From: U.S. 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 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

The Commission’s Office of the 

Advocate for Small Business Capital 

Formation (‘‘Office’’ or ‘‘OASB’’) seeks 

to collect feedback from small 

businesses and their investors to 

understand better the population that it 

is serving and their role in the small 

business ecosystem. The proposed 

collection of information will help 

ensure that the Office’s outreach efforts 

and communication materials and other 

program initiatives are effective and 

responsive to customer needs. More 

specifically, the Office will seek the 

following four categories of information: 

(i) Demographic information about 

program participants, (ii) feedback on 

the Office’s outreach and educational 

materials, (iii) capital formation-related 

questions, and (iv) issues and challenges 

faced by small businesses and their 

investors. This feedback will allow the 

Office to tailor its outreach efforts and 

communication materials to serve its 

customers more effectively. Collecting 

feedback will also allow the Office to 

understand better its target audience 

and improve outreach events and 

educational materials by optimizing 

their content and delivery, while 

strategizing how best to deploy the 

Office’s resources to address issues and 

challenges faced by its customers. 

Feedback collected under this generic 

clearance will provide useful 

information, but it will not yield data 

that can be generalized to the overall 

population. This type of generic 

clearance for information will not be 

used for quantitative information 

collections that are designed to yield 

reliably actionable results, such as 

monitoring trends over time or 

documenting program performance. 

These are the estimates for the next 

three years for the expected annual 

number of (i) activities: 30; (ii) 

respondents: 10,000; (iii) responses: 

10,000; (iv) frequency of response: once 

per request; (v) average minutes per 

response: 5; and (vi) burden hours: 833. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Office, including whether the 

information shall have practical utility; 

(b) the accuracy of the 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 by April 7, 2025. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid OMB 

control number. 

Please direct your written comments 

to: Austin Gerig, Director/Chief Data 

Officer, Securities and Exchange 

Commission, c/o Tanya Ruttenberg, 100 

F Street NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. 

Dated: January 29, 2025. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–02164 Filed 2–3–25; 8:45 am] 

BILLING CODE 8011–01–P 


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