43064 Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Fee Schedule, Section I.A., n. 6, available 

here, https://www.nyse.com/publicdocs/nyse/ 

markets/american-options/NYSE_American_

Options_Fee_Schedule.pdf. Per the Fee Schedule, a 

‘‘Customer’’ is an individual or organization that is 

not a Broker-Dealer, per Rule 900.2NY(18); and is 

not a Professional Customer; and a ‘‘Non-Customer’’ 

is anyone who is not a Customer. See id., Fee 

Schedule, Key Terms and Definitions. Thus, NonCustomers include Specialists, e-Specialists, 

Directed Order Market Makers, Firms, Broker 

Dealers, and Professional Customers. The Exchange 

notes that Firm Facilitation trades are not electronic 

and are therefore not subject to the Surcharge. 

5See MIAX Options fee schedule, available here, 

https://www.miaxoptions.com/sites/default/files/ 

fee_schedule-files/MIAX_Options_Fee_Schedule_

08072017.pdf (imposing a $0.10 on certain complex 

orders). See also The Chicago Board Options 

Exchange, Inc. (‘‘CBOE’’) fee schedule, available 

here, http://www.cboe.com/publish/feeschedule/ 

CBOEFeeSchedule.pdf, at n. 35 (same). 6See proposed Fee Schedule, Section I.A., n. 6. 

The Exchange also proposes to correct a 

typographical error referring to ‘‘a CUBE Auctions’’ 

by removing the word ‘‘a.’’ See id. 

burden hours associated with the 

adoption and documentation 

requirement is 10,185 hours. 

All funds are required to conduct an 

annual review of the adequacy of their 

existing policies and procedures and the 

policies and procedures of each 

investment adviser, principal 

underwriter, administrator, and transfer 

agent of the fund, and the effectiveness 

of their implementation. In addition, 

each fund chief compliance officer is 

required to prepare an annual report 

that addresses the operation of the 

policies and procedures of the fund and 

the policies and procedures of each 

investment adviser, principal 

underwriter, administrator, and transfer 

agent of the fund, any material changes 

made to those policies and procedures 

since the date of the last report, any 

material changes to the policies and 

procedures recommended as a result of 

the annual review, and certain 

compliance matters that occurred since 

the date of the last report. The staff 

estimates that each fund spends 49 

hours per year, on average, conducting 

the annual review and preparing the 

annual report to the board of directors. 

Thus, we estimate that the annual 

aggregate burden hours associated with 

the annual review and annual report 

requirement is 202,517 hours. 

Finally, the staff estimates that each 

fund spends 6 hours annually, on 

average, maintaining the records 

required by proposed Rule 38a–1. Thus, 

the annual aggregate burden hours 

associated with the recordkeeping 

requirement is 24,798 hours. 

In total, the staff estimates that the 

aggregate annual information collection 

burden of Rule 38a–1 is 237,500 hours. 

The estimate of burden hours is made 

solely for the purposes of the Paperwork 

Reduction Act. The estimate is not 

derived from a comprehensive or even 

a representative survey or study of the 

costs of Commission rules. Complying 

with this collection of information 

requirement is mandatory. Responses 

will not be kept confidential. 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 control 

number. 

The public may view the 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 send an email to: PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: September 8, 2017. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–19446 Filed 9–12–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81549; File No. SR– 

NYSEAMER–2017–08] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Modify the NYSE 

American Options Fee Schedule 

September 7, 2017. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on August 

31, 2017, NYSE American LLC (the 

‘‘Exchange’’ or ‘‘NYSE American’’) 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 selfregulatory organization. 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 modify the 

NYSE American Options Fee Schedule. 

The proposed change is available on the 

Exchange’s Web site at www.nyse.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 

self-regulatory organization 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 those 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this filing is to amend 

the Fee Schedule effective September 1, 

2017. Specifically, the Exchange 

proposes to modify the surcharge that is 

applied to certain Complex Orders 

executed on the Exchange. 

Currently, the Exchange imposes a 

$0.05 per contract surcharge for any 

Electronic Non-Customer Complex 

Order that executes against a Customer 

Complex Order, regardless of whether 

the execution occurs in a Complex 

Order Auction (the ‘‘Surcharge’’).4 The 

Exchange proposes to modify the 

Surcharge to $0.10 per contract, which 

surcharge is comparable to charges 

imposed by other options exchanges.5

For clarity, the Exchange also proposes 

to make clear that the Surcharge is 

applied on a ‘‘per contract’’ basis.6

Additionally, to encourage ATP 

Holders to transact additional NonCustomer Complex Orders on the 

Exchange, the Exchange proposes to 

offer a reduced Surcharge for those ATP 

Holders that meet a certain volume 

threshold. Specifically, the Exchange 

proposes to reduce the per contract 

surcharge to $0.07 for any ATP Holder 

that transacts at least 0.20% of Total 

Industry Customer equity and ETF 

option average daily volume (or 

TCADV) of Electronic Non-Customer 

Complex Order Executions in a month. 

Finally, the Exchange proposes to add 

‘‘TCADV’’ as a defined term in the Key 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 43065 

7See Fee Schedule, Preface, Key Terms and 

Definitions. 

8See proposed Fee Schedule, Preface, Key Terms 

and Definitions. 

9See e.g., NYSE Arca Options Fee Schedule, 

Endnote 8. 

10See proposed Fee Schedule, Section I.E. The 

Exchange also proposes to fix a typographical error 

and add the word ‘‘for’’ to the end of the first 

paragraph describing the ACE Program, which 

would clearly provide that the ACE Program offers 

‘‘two methods for OFPs to receive credits’’ 

(emphasis added). See id. 

11 15 U.S.C. 78f(b). 

12 15 U.S.C. 78f(b)(4) and (5). 

13See supra note 5. 

14See MIAX fee schedule, supra note 5 

(providing for a potential total per contract fee of 

$0.60 for Market Makers, which includes a 

‘‘Complex Per Contract Fee for Penny Classes,’’ a 

per contract ‘‘Marketing Fee,’’ and a $0.10 ‘‘Per 

Contract Surcharge for Removing Liquidity Against 

a Resting Priority Customer Complex Order on the 

Strategy Book for Penny and Non-Penny Classes’’). 

The Exchange believes that MIAX does not subject 

transactions in a complex order auction to any fee 

cap. See also Securities Exchange Act Release No. 

80262 (March 16, 2017), 82 FR 14779 (March 22, 

2017) (SR–NYSEMKT–2017–15) (establishing the 

Surcharge). 

15The Exchange notes that it does not impose any 

fee on Electronic executions of Customer interest. 

16See supra note 6. 

17See supra note 10. 

18 15 U.S.C. 78f(b)(8). 

19See supra note 5. 

20 15 U.S.C. 78s(b)(3)(A). 

Terms and Definitions section of the Fee 

Schedule, which would add clarity and 

transparency to the Fee Schedule.7 As 

proposed, TCADV would refer to ‘‘Total 

Industry Customer equity and ETF 

option average daily volume that 

includes OCC calculated Customer 

volume of all types, including Complex 

Order Transactions and QCC 

transactions, in equity and ETF 

options.’’ 8 This proposed definition is 

consistent with how other options 

exchanges define this term.9 Consistent 

with this proposed change, the 

Exchange proposes to utilize this 

defined term in Section I.E. regarding 

the American Customer Engagement 

(‘‘ACE’’) Program.10

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,11 in general, and 

furthers the objectives of Sections 

6(b)(4) and (5) of the Act,12 in particular, 

because it provides for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members, 

issuers and other persons using its 

facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes the proposed 

increase to the Surcharge is reasonable, 

equitable, and not unfairly 

discriminatory, as it applies to all 

similarly situated Non-Customer 

Complex Orders. Applying the 

Surcharge, as modified, to market 

participant orders except Customer 

orders is equitable and not unfairly 

discriminatory because Customer order 

flow enhances liquidity on the 

Exchange for the benefit of all market 

participants. Specifically, Customer 

liquidity benefits all market participants 

by providing more trading 

opportunities, which attracts Market 

Makers. An increase in the activity of 

Specialists and Market Makers in turn 

facilitates tighter spreads, which may 

cause an additional corresponding 

increase in order flow from other market 

participants. 

In addition, the proposed surcharge is 

reasonable, equitable, and not unfairly 

discriminatory as it is consistent with 

fees charged by other options 

exchanges.13 For example, MIAX 

imposes a $0.10 ‘‘Per Contract 

Surcharge for Removing Liquidity 

Against A Resting Priority Customer 

Complex Order on the Strategy Book’’ 

for all option classes), which may result 

in an overall per contract fee of $0.60.14

Further, the Exchange believes that 

the proposal to offer a reduced 

surcharge to those ATP Holders that 

achieve certain volume thresholds is 

reasonable, equitable and not unfairly 

discriminatory. The Exchange believes 

the proposed reduced rate is reasonably 

designed to encourage ATP Holders that 

transact Non-Customer Complex Orders 

to direct more of this order flow to the 

Exchange to qualify for the reduced 

rates. The proposed rates are reasonable 

and equitable and not unfairly 

discriminatory because they apply 

equally to all ATP Holders that transact 

Non-Customer Complex Orders. In 

addition, the proposed changes are 

equitable and not unfairly 

discriminatory because, while only 

Non-Customer Complex Orders qualify 

for the reduced surcharge, the Exchange 

believes any increase in Non-Customer 

Complex Orders would result in greater 

volume and liquidity being attracted to 

the Exchange, which benefit all market 

participants by providing more trading 

opportunities and tighter spreads.15 To 

the extent this goal is achieved, the 

Exchange would improve its overall 

competitiveness and strengthen its 

market quality for all market 

participants. 

The proposal to define ‘‘TCADV’’ in 

the Fee Schedule, as well as to fix the 

typographical errors in Section I.A.16

and I.E.,17 is likewise reasonable, 

equitable and not unfairly 

discriminatory because it would add 

clarity and transparency to the Fee 

Schedule to the benefit of all market 

participants. 

For these reasons, the Exchange 

believes that the proposal is consistent 

with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,18 the Exchange does not believe 

that the proposed rule change would 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The proposed modification to the 

Surcharge would not impose an unfair 

burden on competition as it is 

consistent with fees charged by other 

exchanges.19 Further, the proposal to 

reduce the surcharge for certain ATP 

Holders that achieve certain volume 

thresholds would likewise not impose 

an unfair burden on competition 

because it is designed to attract NonCustomer Complex Orders to the 

Exchange. To the extent that this 

purpose is achieved, this proposal 

would enhance the quality of the 

Exchange’s markets and increase the 

volume of Complex Orders traded here. 

In turn, all the Exchange’s market 

participants would benefit from the 

improved market liquidity. If the 

proposed changes make the Exchange a 

more attractive marketplace for market 

participants at other exchanges, such 

market participants are welcome to 

become ATP Holders. 

The Exchange notes that it operates in 

a highly competitive market in which 

market participants can readily favor 

competing venues. In such an 

environment, the Exchange must 

continually review, and consider 

adjusting, its fees and credits to remain 

competitive with other exchanges. For 

the reasons described above, the 

Exchange believes that the proposed 

rule change reflects this competitive 

environment. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 20 of the Act and 


sradovich on DSK3GMQ082PROD with NOTICES
43066 Federal Register / Vol. 82, No. 176 / Wednesday, September 13, 2017 / Notices 

21 17 CFR 240.19b–4(f)(2). 

22 15 U.S.C. 78s(b)(2)(B). 23 17 CFR 200.30–3(a)(12). 

subparagraph (f)(2) of Rule 19b–4 21

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such 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 

under Section 19(b)(2)(B) 22 of the Act 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– 

NYSEAMER–2017–08 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–NYSEAMER–2017–08. 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– 

NYSEAMER–2017–08, and should be 

submitted on or before October 4, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–19378 Filed 9–12–17; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #15293 and #15294; 

U.S. VIRGIN ISLANDS Disaster Number VI– 

00009] 

Presidential Declaration of a Major 

Disaster for the U.S. Virgin Islands 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for the U.S. VIRGIN ISLANDS 

(FEMA–4335–DR), dated 09/07/2017. 

Incident: Hurricane Irma. 

Incident Period: 09/06/2017 and 

continuing. 

DATES: Issued on 09/07/2017. 

Physical Loan Application Deadline 

Date: 11/06/2017. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 06/07/2018. 

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 

09/07/2017, 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 Areas (Physical Damage and 

Economic Injury Loans): Saint John, 

Saint Thomas 

Contiguous Areas (Economic Injury 

Loans Only): None 

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 152938 and for 

economic injury is 152940. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2017–19447 Filed 9–12–17; 8:45 am] 

BILLING CODE 8025–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No: SSA–2017–0050] 

Agency Information Collection 

Activities: Proposed Request and 

Comment Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law 104–13, the Paperwork 

Reduction Act of 1995, effective October 

1, 1995. This notice includes revisions 

of OMB-approved information 

collections. 

SSA is soliciting comments on the 

accuracy of the agency’s burden 

estimate; the need for the information; 

its practical utility; ways to enhance its 

quality, utility, and clarity; and ways to 

minimize burden on respondents, 

including the use of automated 


sradovich on DSK3GMQ082PROD with NOTICES