40566 Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices 

64For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule change’s impact on efficiency, 

competition, and capital formation. See 15 U.S.C. 

78c(f). 65 17 CFR 200.30–3(a)(12). 

stemming from the outbreak of COVID– 

19 and permit firms to rely on electronic 

signatures to satisfy the signature 

requirements of Exchange Rule 3104(c) 

and Interpretation and Policy .03, which 

may reduce or eliminate an operational 

backlog, ultimately benefiting the 

investing public. Moreover, the 

proposed rule changes do not impose 

any significant burden on competition 

because they will apply uniformly to all 

similarly situated members and 

associated persons of members. Also, as 

stated above, the proposed rule changes 

are substantively the same as changes 

made by FINRA. Second, waiver of the 

30-day operative delay would also allow 

the Exchange to implement the 

proposed continuing education changes 

noted above thereby reducing the 

possibility of a significant regulatory 

gap between the FINRA and Exchange 

Rules. This is consistent with the 

protection of investors and the public 

interest by providing more uniform 

standards across the securities industry 

and helping to avoid confusion for 

members of the Exchange that are also 

FINRA members. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposal operative upon filing.64

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 shall 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– 

PEARL–2022–25 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–PEARL–2022–25. 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 (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 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 

10:00 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–PEARL–2022–25 and 

should be submitted on or before July 

28, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.65

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2022–14397 Filed 7–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–359, OMB Control No. 

3235–0410] 

Proposed Collection; Comment 

Request; Extension: Rules 17h–1T and 

17h–2T 

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’’) is soliciting comments 

on the existing collection of information 

provided for in Rules 17h–1T and 17h– 

2T (17 CFR 240.17h–1T and 17 CFR 

240.17h–2T), under the Securities 

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

seq.). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 17h–1T requires a covered 

broker-dealer to maintain and preserve 

records and other information 

concerning certain entities that are 

associated with the broker-dealer. This 

requirement extends to the financial and 

securities activities of the holding 

company, affiliates and subsidiaries of 

the broker-dealer that are reasonably 

likely to have a material impact on the 

financial or operational condition of the 

broker-dealer. Rule 17h–2T requires a 

covered broker-dealer to file with the 

Commission quarterly reports and a 

cumulative year-end report concerning 

the information required to be 

maintained and preserved under Rule 

17h–1T. 

The collection of information required 

by Rules 17h–1T and 17h–2T, 

collectively referred to as the ‘‘risk 

assessment rules’’, is necessary to 

enable the Commission to monitor the 

activities of a broker-dealer affiliate 

whose business activities are reasonably 

likely to have a material impact on the 

financial and operational condition of 

the broker-dealer. Without this 

information, the Commission would be 

unable to assess the potentially 

damaging impact of the affiliate’s 

activities on the broker-dealer. 

There are currently 235 respondents 

that must comply with Rules 17h–1T 

and 17h–2T. Each of these 235 

respondents are estimated to require 10 

hours per year to maintain the records 

required under Rule 17h–1T, for an 

aggregate estimated annual burden of 

2,350 hours (235 respondents × 10 

hours). In addition, each of these 235 

respondents must make five annual 

responses under Rule 17h–2T. These 

five responses are estimated to require 

14 hours per respondent per year for an 

aggregate estimated annual burden of 

3,290 hours (235 respondents × 14 

hours). 

In addition, new respondents must 

draft an organizational chart required 

under Rule 17h–1T and establish a 

system for complying with the risk 


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Federal Register / Vol. 87, No. 129 / Thursday, July 7, 2022 / Notices 40567 

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)(2). 

5 17 CFR 240.19b–4(f)(4). 

6Capitalized terms used herein and not otherwise 

defined shall have the meaning assigned to such 

terms in the Rules, available at http://dtcc.com/∼/ 

media/Files/Downloads/legal/rules/nscc_rules.pdf. 

7 I&RS Data is data and information relating to 

I&RS Eligible Products. Section 1.(a) of Rule 57, 

supra note 6. An ‘‘I&RS Eligible Product’’ means 

insurance products, retirement or other benefit 

plans or programs that are identified by NSCC as 

eligible for processing through its I&RS. See 

Definition of I&RS Eligible Product, Rule 1 and 

Section 1.(d) of Rule 3, id. 

assessment rules. The staff estimates 

that drafting the required organizational 

chart requires one hour and establishing 

a system for complying with the risk 

assessment rules requires three hours. 

Based on the reduction in the number 

of filers in recent years, the staff 

estimates there will be zero new 

respondents, and thus, a corresponding 

estimated burden of zero hours for new 

respondents. Thus, the total compliance 

burden per year is approximately 5,640 

burden hours (2,350 hours + 3,290 

hours). 

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 will have practical utility; 

(b) the accuracy of the Commission’s 

estimate of the burden of the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information 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 September 6, 2022. 

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: David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: June 30, 2022. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2022–14392 Filed 7–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95188; File No. SR–NSCC– 

2022–008] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Decommission the 

Insurance Profile Service, Adjust Fees 

for Insurance Information Exchange 

Service and Make Certain Other 

Corrections in the Rules 

June 30, 2022. 

Pursuant to 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 June 23, 

2022, National Securities Clearing 

Corporation (‘‘NSCC’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II and III 

below, which Items have been prepared 

by the clearing agency. NSCC filed the 

proposed rule change pursuant to 

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

subparagraphs (f)(2) 4 and (f)(4) 5 of Rule 

19b–4 thereunder. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Clearing Agency’s Statement of the 

Terms of Substance of the Proposed 

Rule Change 

(a) The proposed rule change of NSCC 

is annexed [sic] hereto as Exhibit 5 and 

consists of modifications to Rule 57 and 

Addendum A of NSCC’s Rules & 

Procedures (‘‘Rules’’) in order to (i) 

decommission the Insurance Profile 

service, (ii) adjust the fees for the 

Insurance Information Exchange service 

(‘‘IIEX’’) to (a) provide for fees for 

product data that is being moved from 

Insurance Profile to IIEX and (b) adjust 

certain fees for service providers and 

(iii) make certain other corrections to 

the Rules, as described below.6

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, the 

clearing agency 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 

clearing agency has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 

(A) Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

1. Purpose 

NSCC is proposing to move the 

processing of certain product data that 

is currently being processed through 

Insurance Profile to IIEX and 

decommission Insurance Profile. 

Following the proposed changes, 

product data that is currently being 

processed through Insurance Profile will 

be processed through IIEX. The fees for 

the use of IIEX for processing of such 

product data will be moved to IIEX in 

Addendum A of the Rules but will 

remain the same as the fees currently 

charged for the processing of such 

product data through Insurance Profile. 

NSCC is also proposing to remove fees 

for service providers using IIEX for 

policy data and proposing to add fees 

for service providers using IIEX for 

product data. 

Finally, NSCC is proposing to correct 

incorrect references to ‘‘IPS’’ and ‘‘IPS 

Data’’ in the Rules. 

The proposed changes would not 

have a substantial impact on I&RS 

Members (as defined below). I&RS 

Members would use IIEX rather than 

Insurance Profile to process product 

data, but the fees for processing such 

product data would not change. 

Following the proposed changes, service 

providers would be charged for 

processing product data using IIEX but 

would not be charged for processing 

policy data through IIEX. 

(a) Background 

Insurance and Retirement Processing 

Services (‘‘I&RS’’) provides for 

transmission of I&RS Data,7 including 

annuity and life insurance policy 

applications and premiums, licensing 

and appointments, fees and expenses, 

commission payments, reporting of 

client positions and valuations, asset 

pricing, financial activity reporting and 

annuity customer account transfers. 

Entities that use I&RS services include 


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