40612 Federal Register / Vol. 82, No. 164 / Friday, August 25, 2017 / Notices 

September 4, 2017) and trades that occur on 

September 5, 2017 (under T+2). 

21 15 U.S.C. 78s(b)(3)(A). 

22 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires FINRA to give the Commission 

written notice of FINRA’s intent to file the proposed 

rule change, along with a brief description and text 

of the proposed rule change, at least five business 

days prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. FINRA has satisfied this requirement. 

23 17 CFR 240.19b–4(f)(6). 

24 17 CFR 240.19b–4(f)(6)(iii). 

25For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 26 17 CFR 200.30–3(a)(12). 

that the proposed rule change would not 

impose any additional costs on the 

industry. As noted above, the proposed 

rule change does not change the text to 

Rule 11140(b). Instead, the proposed 

rule change interprets the application of 

the rule solely to refrain from 

designating September 5, 2017 as an exdividend date for ‘‘regular’’ or ‘‘large’’ 

distributions. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the proposed rule change 

does not (i) significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, the 

proposed rule change has become 

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

of the Act 21 and Rule 19b–4(f)(6) 

thereunder.22

A proposed rule change filed under 

Rule 19b–4(f)(6) 23 normally does not 

become operative for 30 days after the 

date of filing. However, pursuant to 

Rule 19b–4(f)(6)(iii),24 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

FINRA has asked the Commission to 

waive the 30-day operative delay so that 

the proposal may become operative 

upon filing. FINRA has stated that the 

purpose of the proposed rule change is 

to minimize confusion about proper 

settlement that may arise during the 

transition to the T+2 settlement cycle on 

September 5, 2017. The Commission 

believes that waiving the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest to avoid the confusion that 

could arise in connection with the 

transition to the T+2 settlement cycle on 

September 5, 2017, if normal or large 

distributions were to be ex-dividend on 

that date. Accordingly, the Commission 

hereby waives the 30-day operative 

delay requirement and designates the 

proposed rule change as operative upon 

filing.25

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 

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– 

FINRA–2017–026 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–FINRA–2017–026. 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 FINRA. 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–FINRA– 

2017–026, and should be submitted on 

or before September 15, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2017–18000 Filed 8–24–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

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 15c2–5, SEC File No. 270–195; OMB 

Control No. 3235–0198 

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 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 15c2–5 (17 CFR 240.15c2–5), 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78 et seq.) (‘‘Exchange 

Act’’). 

Rule 15c2–5 prohibits a broker-dealer 

from arranging or extending certain 

loans to persons in connection with the 

offer or sale of securities unless, before 

any element of the transaction is entered 

into, the broker-dealer: (1) Delivers to 

the person a written statement 

containing the exact nature and extent 

of the person’s obligations under the 

loan arrangement; the risks and 

disadvantages of the loan arrangement; 

and all commissions, discounts, and 

other remuneration received and to be 

received in connection with the 


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Federal Register / Vol. 82, No. 164 / Friday, August 25, 2017 / Notices 40613 

1 50 respondents × 6 responses per year × 2 hours 

per response = 600 hours per year. 

2 50 respondents × 6 responses per year = 300 

responses per year. 

3 300 responses per year × 2 hours per response 

= 600 hours per year. 

4Cost per hour for a clerk is from SIFMA’s Office 

Salaries in the Securities Industry 2013, modified 

by Commission staff to account for an 1800-hour 

work-year and multiplied by 2.93 to account for 

bonuses, firm size, employee benefits and overhead. 

5 600 hours per year × $57.00 per hour = $34,200 

per year. 

6The records required by Rule 15c2–5 would be 

available only for examination purposes of the 

Commission staff, state securities authorities, and 

the self-regulatory organizations. Subject to the 

provisions of the Freedom of Information Act, 5 

U.S.C. 552, and the Commission’s rules thereunder 

(17 CFR 200.80(b)(4)(iii)), the Commission does not 

generally publish or make available information 

contained in any reports, summaries, analyses, 

letters, or memoranda arising out of, in anticipation 

of, or in connection with an examination or 

inspection of the books and records of any person 

or any other investigation. 

transaction by the broker-dealer or 

certain related persons (unless the 

person receives certain materials from 

the lender or broker-dealer which 

contain the required information); and 

(2) obtains from the person information 

on the person’s financial situation and 

needs, reasonably determines that the 

transaction is suitable for the person, 

and retains on file and makes available 

to the person on request a written 

statement setting forth the brokerdealer’s basis for determining that the 

transaction was suitable. The collection 

of information required by Rule 15c2–5 

is necessary to execute the 

Commission’s mandate under the 

Exchange Act to prevent fraudulent, 

manipulative, and deceptive acts and 

practices by broker-dealers. 

The Commission estimates that there 

are approximately 50 respondents that 

require an aggregate total of 600 hours 

to comply with Rule 15c2–5.1 Each of 

these approximately 50 registered 

broker-dealers makes an estimated six 

annual responses, for an aggregate total 

of 300 responses per year.2 Each 

response takes approximately two hours 

to complete. Thus, the total compliance 

burden per year is 600 burden hours.3

The approximate internal compliance 

cost per hour is $57.00 for clerical 

labor,4 resulting in a total internal 

compliance cost of $34,200.5 These 

reflect internal labor costs; there are no 

external labor, capital, or start-up costs. 

Although Rule 15c2–5 does not 

specify a retention period or recordkeeping requirement under the rule, 

broker-dealers are required to preserve 

the records for a period no less than six 

years pursuant to Rule 17a–4(c). The 

information required under Rule 15c2– 

5 is necessary for broker-dealers to 

engage in the lending activities 

prescribed in the Rule. Rule 15c2–5 

does not assure confidentiality for the 

information retained under the rule.6

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 Web site: 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 

20549, or by sending an email to: PRA_

Mailbox@sec.gov. Comments must be 

submitted to OMB within 30 days of 

this notice. 

Dated: August 22, 2017. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–18073 Filed 8–24–17; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #15255 and #15256; 

WEST VIRGINIA Disaster Number WV– 

00046] 

Presidential Declaration of a Major 

Disaster for the State of West Virginia 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for the State of West Virginia 

(FEMA–4331–DR), dated 08/18/2017. 

Incident: Severe Storms, Flooding, 

Landslides, and Mudslides. 

Incident Period: 07/28/2017 through 

07/29/2017. 

DATES: Issued on 08/18/2017. 

Physical Loan Application Deadline 

Date: 10/17/2017. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 05/18/2018. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW., Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

08/18/2017, applications for disaster 

loans may be filed at the address listed 

above or other locally announced 

locations. The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties (Physical Damage and 

Economic Injury Loans): Harrison, 

Marion, Marshall, Wetzel 

Contiguous Counties (Economic Injury 

Loans Only): 

West Virginia: Barbour, Doddridge, 

Lewis, Monongalia, Ohio, Taylor, 

Tyler, Upshur. 

Ohio: Belmont, Monroe 

Pennsylvania: Greene, Washington 

The Interest Rates are: 

Percent 

For Physical Damage: 

Homeowners with Credit Available Elsewhere ...................... 3.500 

Homeowners without Credit 

Available Elsewhere .............. 1.750 

Businesses with Credit Available Elsewhere ...................... 6.610 

Businesses without Credit 

Available Elsewhere .............. 3.305 

Non-Profit Organizations with 

Credit Available Elsewhere ... 2.500 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 2.500 

For Economic Injury: 

Businesses & Small Agricultural 

Cooperatives without Credit 

Available Elsewhere .............. 3.305 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 2.500 

The number assigned to this 

disaster for physical damage 

is 152556 and for economic 

injury is 152560..

(Catalog of Federal Domestic Assistance 

Number 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2017–18039 Filed 8–24–17; 8:45 am] 

BILLING CODE 8025–01–P 


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