62976 Federal Register / Vol. 79, No. 203 / Tuesday, October 21, 2014 / Notices 

conceptual interests are involved in the 

protection of privacy, how the impact of 

technology has affected privacy, what 

privacy interests have been identified by 

government privacy officials, what 

lessons have been learned in the private 

sector, and what the best way is for 

government to address privacy 

concerns. Interested parties are 

encouraged to attend and to submit 

comments. The meeting and comments 

will inform the Privacy and Civil 

Liberties Oversight Board’s approach to 

privacy issues within its statutory 

purview. Visit www.pclob.gov for a list 

of panelists closer to the meeting date. 

DATES: The meeting will be held 

Wednesday, November 12, 2014 from 

8:00 a.m. through 4:30 p.m. (Eastern 

Standard Time). Written comments 

must be received on or before December 

31, 2014. 

ADDRESSES: Washington Marriott 

Georgetown Hotel, 1221 22nd Street 

NW., Washington, DC 20037. Any 

change in location will be announced 

on www.pclob.gov. 

FOR FURTHER INFORMATION CONTACT: 

Sharon Bradford Franklin, Executive 

Director, 202–331–1986, or send your 

inquiry to: info@pclob.gov. 

SUPPLEMENTARY INFORMATION: 

Agenda 

Doors open at 8:00 a.m. (Eastern 

Standard Time). The meeting will begin 

promptly at 8:30 a.m. and will be 

divided into the following panels: 

• Panel 1: Defining Privacy Interests. 

• Panel 2: Privacy Interests in the 

Counterterrorism Context and the 

Impact of Technology. 

• Panel 3: Privacy Interests Identified 

and Addressed by Government Privacy 

Officials. 

• Panel 4: Applying Lessons Learned 

from the Private Sector. 

A formal agenda will be available at 

www.pclob.gov closer to the meeting 

date. 

Procedures for Public Observation 

The meeting is open to the public. 

Pre-registration is not required. 

Individuals who plan to attend and 

require special assistance should 

contact Sharon Bradford Franklin, 

Executive Director, 202–331–1986, at 

least 72 hours prior to the meeting date. 

Public Comments 

The Privacy and Civil Liberties 

Oversight Board invites written 

comments of interested persons 

regarding privacy in the 

counterterrorism context. You may 

submit comments with the docket 

number PCLOB–2014–05 by the 

following method: 

Submit comments identified by 

Notice PCLOB 2014–05, Notice of a 

Meeting by any of the following 

methods: 

• Regulations.gov: http://

www.regulations.gov. Submit comments 

via the Federal eRulemaking portal by 

searching ‘‘PCLOB 2014–05’’. Select the 

link ‘‘Comment Now’’ that corresponds 

with ‘‘Notice PCLOB 2014–05, Notice of 

a Meeting’’. Follow the instructions 

provided on the screen. Please include 

your name, company name (if any), and 

‘‘Notice PCLOB 2014–05, Notice of a 

Meeting’’, on your attached document. 

• Instructions: Please submit 

comments only and cite Notice PCLOB 

2014–05, Notice of a Meeting, in all 

correspondence related to this 

collection. All comments received will 

be posted without change to http://

www.regulations.gov, including any 

personal and/or business confidential 

information provided. 

• Written comments may be 

submitted at any time prior to the 

closing of the docket at 11:59 p.m. 

Eastern Standard Time on December 31, 

2014. 

Dated: October 16, 2014. 

Peter Winn, 

Acting General Counsel, Privacy and Civil 

Liberties Oversight Board. 

[FR Doc. 2014–24994 Filed 10–20–14; 8:45 am] 

BILLING CODE 6820–B3–P 

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 15c2–7. SEC File No. 270–420, OMB 

Control No. 3235–0479. 

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 Rule 15c2–7 (17 CFR 

240.15c2–7) 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 15c2–7 places disclosure 

requirements on broker-dealers who 

have correspondent relationships, or 

agreements identified in the rule, with 

other broker-dealers. Whenever any 

such broker-dealer enters a quotation for 

a security through an inter-dealer 

quotation system, Rule 15c2–7 requires 

the broker-dealer to disclose these 

relationships and agreements in the 

manner required by the rule. The interdealer quotation system must also be 

able to make these disclosures public in 

association with the quotation the 

broker-dealer is making. 

When Rule 15c2–7 was adopted in 

1964, the information it requires was 

necessary for execution of the 

Commission’s mandate under the 

Securities Exchange Act of 1934 to 

prevent fraudulent, manipulative and 

deceptive acts by broker-dealers. In the 

absence of the information collection 

required under Rule 15c2–7, investors 

and broker-dealers would have been 

unable to accurately determine the 

market depth of, and demand for, 

securities in an inter-dealer quotation 

system. 

There are approximately 4,342 brokerdealers registered with the Commission. 

Any of these broker-dealers could be 

potential respondents for Rule 15c2–7, 

so the Commission is using that figure 

to represent the number of respondents. 

Rule 15c2–7 applies only to quotations 

entered into an inter-dealer quotation 

system, such as the OTC Bulletin Board 

(‘‘OTCBB’’), or OTC Link (formerly, 

‘‘Pink Sheets’’), operated by OTC 

Markets Group Inc. (‘‘OTC Link’’). 

According to representatives of both 

OTC Link and the OTCBB, neither 

entity has recently received, or 

anticipates receiving any Rule 15c2–7 

notices. However, because such notices 

could be made, the Commission 

estimates that one filing is made 

annually pursuant to Rule 15c2–7. 

Based on prior industry reports, the 

Commission estimates that the average 

time required to enter a disclosure 

pursuant to the rule is .75 minutes, or 

45 seconds. The Commission sees no 

reason to change this estimate. We 

estimate that impacted respondents 

spend a total of .0125 hours per year to 

comply with the requirements of Rule 

15c2–7 (1 notice (×) 45 seconds/notice). 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

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 

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Federal Register / Vol. 79, No. 203 / Tuesday, October 21, 2014 / Notices 62977 

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). 

6The Service was formerly known as ‘‘Mutual 

Fund Commission Settlement’’. 

7Securities Exchange Act Release No. 31579 

(December 9, 1992), 57 FR 60017 (December 17, 

1992) (SR–NSCC–1992–13). 

8See Securities Exchange Act Release No. 52458 

(September 16, 2005), 70 FR 56200 (September 26, 

2005) (SR–NSCC–2005–10). 

9Securities Exchange Act Release No. 68159 

(November 5, 2012), 77 FR 67410 (November 9, 

2012) (SR–NSCC–2012–08). 

10The 2012 Rule Filing also (i) renamed the 

Service from ‘‘Mutual Fund Commission 

Settlement’’ to the current ‘‘DTCC Payment aXis’’, 

Continued 

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. 

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: Thomas Bayer, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: October 15, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–24955 Filed 10–20–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, October 23, 2014 at 2:00 

p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or her designee, has 

certified that, in her opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matter at the Closed Meeting. 

Commissioner Gallagher, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in closed 

session. 

The subject matter of the Closed 

Meeting will be: 

Institution and settlement of 

injunctive actions; 

Institution settlement of 

administrative proceedings; 

Adjudicatory matter; 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact the Office of the Secretary at 

(202) 551–5400. 

Dated: October 16, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–25084 Filed 10–17–14; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73358; File No. SR–NSCC– 

2014–09] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rule 52 

(Mutual Fund Services) and Addendum 

A (Fee Structure) With Respect to the 

DTCC Payment aXis Service, and To 

Make Certain Technical Changes 

October 15, 2014. 

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 October 

2, 2014, 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 NSCC. NSCC filed the proposed rule 

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

of the Act and Rule 19b-4(f)(2) 4 and (4) 5

thereunder. The proposed rule change 

was effective upon filing with the 

Commission. 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 

The proposed rule change consists of 

amendments to Rule 52 (Mutual Fund 

Services) and Addendum A (Fee 

Structure) of NSCC’s Rules & Procedures 

with respect to the DTCC Payment aXis 

service, and certain technical changes in 

connection therewith, as more fully 

described below. The text of the 

proposed rule change is available on 

NSCC’s Web site at http://www.dtcc.

com/legal/sec-rule-filings.aspx, at the 

principal office of NSCC, and at the 

Commission’s Public Reference Room. 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, 

NSCC 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. NSCC 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) Statement of Purpose 

Background. NSCC’s DTCC Payment 

aXis service (‘‘Service’’) 6 was initially 

approved by the Commission on 

December 9, 1992 (‘‘1992 Rule Filing’’).7

In the 1992 Rule Filing, NSCC described 

that the new service would provide for 

the automation of payments of 

commissions owed in respect of mutual 

fund transactions between fund 

companies (‘‘Funds’’) and their retail 

broker-dealers (‘‘Distributors’’) and that 

NSCC’s role in this new commission 

service would be to transmit data 

between the Funds (i.e., the commission 

payers) and the Distributors (i.e., the 

commission receivers). In 2005, NSCC 

expanded the scope of the Service to 

permit Distributors to transmit fee data 

through NSCC to other Distributors, and 

to settle the fee payments in respect 

thereof, expanding the Service to allow 

for more than the exchange of 

commission-related information from 

Funds to Distributors.8

On October 22, 2012, NSCC filed a 

proposed rule change (‘‘2012 Rule 

Filing’’),9 which, in particular and 

relevant to the current proposed rule 

change, introduced a unique data 

processing flow to the Service.10 In the 

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