Federal Register / Vol. 82, No. 220 / Thursday, November 16, 2017 / Notices 53549 

13 17 CFR 200.30–3(a)(12). 

1Miami International Securities Exchange, LLC 

and MIAX PEARL LLC filed their proposed rule 

changes on May 1, 2017. 

2The Nasdaq Stock Market LLC and Nasdaq BX, 

Inc. filed their proposed rule changes on May 2, 

2017. 

3Chicago Stock Exchange, Inc. filed its proposed 

rule change on May 3, 2017. 

4Financial Industry Regulatory Authority, Inc. 

filed its proposed rule change on May 8, 2017. 

5 Investors Exchange LLC originally filed its 

proposed rule change on May 3, 2017 under File 

No. SR–IEX–2017–13, and subsequently withdrew 

that filing and filed a proposed rule change on May 

9, 2017. 

6The New York Stock Exchange LLC, NYSE Arca, 

Inc. and NYSE MKT LLC filed their proposed rule 

changes on May 10, 2017. 

7Nasdaq GEMX LLC, Nasdaq ISE, LLC, Nasdaq 

MRX, LLC and Nasdaq PHLX LLC originally filed 

their proposed rule changes on May 3, 2017 under 

File Nos. SR–GEMX–2017–11, SR–ISE–2017–40, 

SR–MRX–2017–03, and SR–PHLX–2017–35, and 

subsequently withdrew those filings and filed 

proposed rule changes on May 12, 2017. 

8BOX Options Exchange LLC originally filed its 

proposed rule change on May 11, 2017 under File 

No. SR–BOX–2017–15, and subsequently withdrew 

that filing and filed a proposed rule change on May 

15, 2017. 

9Bats BYX Exchange, Inc., C2 Options Exchange, 

Incorporated and Chicago Board Options Exchange, 

Incorporated filed their proposed rule changes on 

May 16, 2017. Bats EDGA Exchange, Inc. originally 

filed its proposed rule change on May 5, 2017 under 

File No. SR–BatsEDGA–2017–11, and subsequently 

withdrew that filing on May 11, 2017 and filed a 

proposed rule change on May 16, 2017. 

10Bats BZX Exchange, Inc. filed its proposed rule 

changes on May 23, 2017. Bats EDGX Exchange, 

Inc. originally filed its proposed rule change on 

May 5, 2017 under File No. SR–BatsEDGX–2017– 

20, and subsequently withdrew that filing on May 

10, 2017 and filed a proposed rule change on May 

23, 2017. 

11See Securities Exchange Act Release No. 81952 

(October 26, 2017), 82 FR 50725 (November 1, 

2017). The name change was not yet effective when 

Bats BYX filed SR–BatsBYX–2017–11. 

12See Securities Exchange Act Release No. 81962 

(October 26, 2017), 82 FR 50711 (November 1, 

2017). The name change was not yet effective when 

Bats BZX filed SR–BatsBZX–2017–38. 

13See Securities Exchange Act Release No. 81957 

(October 26, 2017), 82 FR 50716 (November 1, 

2017). The name change was not yet effective when 

Bats EDGA filed SR–BatsEDGA–2017–13. 

14See Securities Exchange Act Release No. 81963 

(October 26, 2017), 82 FR 50697 (November 1, 

2017). The name change was not yet effective when 

Bats EDGX filed SR–BatsEDGX–2017–22. 

15See Securities Exchange Act Release No. 81979 

(October 30, 2017), 82 FR 51317 (November 3, 

2017). The name change was not yet effective when 

C2 filed SR–C2–2017–017. 

16See Securities Exchange Act Release No. 81981 

(October 30, 2017), 82 FR 51309 (November 3, 

2017). The name change was not yet effective when 

CBOE filed SR–CBOE–2017–040. 

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 such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–BatsBZX–2017–76, and 

should be submitted on or before 

December 7, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24777 Filed 11–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82049; File Nos. SR– 

BatsBYX–2017–11; SR–BatsBZX–2017–38; 

SR–BatsEDGA–2017–13; SR–BatsEDGX– 

2017–22; SR–BOX–2017–16; SR–BX–2017– 

023; SR–C2–2017–017; SR–CBOE–2017– 

040; SR–CHX–2017–08; SR–FINRA–2017– 

011; SR–GEMX–2017–17; SR–IEX–2017–16; 

SR–ISE–2017–45; SR–MIAX–2017–18; SR– 

MRX–2017–04; SR–NASDAQ–2017–046; 

SR–NYSE–2017–22; SR–NYSEArca–2017– 

52; SR–NYSEMKT–2017–26; SR–PEARL– 

2017–20; SR–PHLX–2017–37] 

Self-Regulatory Organizations; Bats 

BYX Exchange, Inc.; Bats BZX 

Exchange, Inc.; Bats EDGA Exchange, 

Inc.; Bats EDGX Exchange, Inc.; BOX 

Options Exchange LLC; C2 Options 

Exchange, Incorporated; Chicago 

Board Options Exchange, 

Incorporated; Chicago Stock 

Exchange, Inc.; Financial Industry 

Regulatory Authority, Inc.; Investors 

Exchange LLC; Miami International 

Securities Exchange, LLC; MIAX 

PEARL LLC; Nasdaq BX, Inc.; Nasdaq 

GEMX, LLC; Nasdaq ISE, LLC; Nasdaq 

MRX, LLC; Nasdaq PHLX LLC; The 

Nasdaq Stock Market LLC; New York 

Stock Exchange LLC; NYSE Arca, Inc. 

and NYSE MKT LLC; Notice of 

Designation of Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove Proposed Rule Changes 

To Establish Fees for Industry 

Members To Fund the Consolidated 

Audit Trail 

November 9, 2017. 

On May 1, 2017,1 May 2, 2017,2 May 

3, 2017,3 May 8, 2017,4 May 9, 2017,5

May 10, 2017,6 May 12, 2017,7 May 15, 

2017,8 May 16, 2017,9 and May 23, 

2017,10 Bats BYX Exchange, Inc. (‘‘Bats 

BYX’’) (n/k/a Cboe BYX Exchange, 

Inc.),11 Bats BZX Exchange, Inc. (‘‘Bats 

BZX’’) (n/k/a Cboe BZX Exchange, 

Inc.),12 Bats EDGA Exchange, Inc. (‘‘Bats 

EDGA’’) (n/k/a Cboe EDGA Exchange, 

Inc.),13 Bats EDGX Exchange, Inc. (‘‘Bats 

EDGX’’) (n/k/a Cboe EDGX Exchange, 

Inc.),14 BOX Options Exchange LLC 

(‘‘BOX’’), C2 Options Exchange, 

Incorporated (‘‘C2’’) (n/k/a Cboe C2 

Options Exchange, Inc.),15 Chicago 

Board Options Exchange, Incorporated 

(‘‘CBOE’’) (n/k/a Cboe Exchange, Inc.),16

Chicago Stock Exchange, Inc. (‘‘CHX’’), 

Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’), Investors 

Exchange LLC (‘‘IEX’’), Nasdaq ISE, LLC 

(‘‘ISE’’), Miami International Securities 

Exchange, LLC (‘‘MIAX’’), MIAX 

PEARL, LLC (‘‘PEARL’’), Nasdaq BX, 

Inc. (‘‘BX’’), Nasdaq GEMX, LLC 

(‘‘GEMX’’), Nasdaq MRX, LLC (‘‘MRX’’), 

Nasdaq PHLX LLC (‘‘Phlx’’), The 

Nasdaq Stock Market LLC (‘‘Nasdaq’’), 

New York Stock Exchange LLC 

(‘‘NYSE’’), NYSE Arca, Inc. (‘‘NYSE 

Arca’’) and NYSE MKT LLC (‘‘NYSE 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
53550 Federal Register / Vol. 82, No. 220 / Thursday, November 16, 2017 / Notices 

17See Securities Exchange Act Release No. 80283 

(March 21, 2017), 82 FR 15244 (March 27, 2017). 

The name change was not yet effective when NYSE 

MKT filed SR–NYSEMKT–2017–26. 

18 15 U.S.C. 78s(b)(1). 

19 17 CFR 240.19b–4. 

20See infra notes 22–28. The National Market 

System Plan Governing the Consolidated Audit 

Trail (‘‘CAT NMS Plan’’) was published for 

comment in the Federal Register on May 17, 2016, 

and approved by the Commission, as modified, on 

November 15, 2016. See Securities Exchange Act 

Release Nos. 77724 (April 27, 2016), 81 FR 30614 

(May 17, 2016) (‘‘CAT NMS Plan Notice’’); 79318 

(November 15, 2016), 81 FR 84696 (November 23, 

2016) (‘‘CAT NMS Plan Approval Order’’). 

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

may take effect upon filing with the Commission if 

it is designated by the exchange as ‘‘establishing or 

changing a due, fee, or other charge imposed by the 

self-regulatory organization on any person, whether 

or not the person is a member of the self-regulatory 

organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii). 

22See Securities Exchange Act Release Nos. 

80675 (May 15, 2017), 82 FR 23100 (May 19, 2017) 

(SR–MIAX–2017–18); and 80676 (May 15, 2017), 82 

FR 23083 (May 19, 2017) (SR–PEARL–2017–20). 

23See Securities Exchange Act Release Nos. 

80697 (May 16, 2017), 82 FR 23398 (May 22, 2017) 

(SR–BX–2017–023); 80691 (May 16, 2017), 82 FR 

23344 (May 22, 2017) (SR–CHX–2017–08); 80692 

(May 16, 2017), 82 FR 23325 (May 22, 2017) (SR– 

IEX–2017–16); 80696 (May 16, 2017), 82 FR 23439 

(May 22, 2017) (SR–NASDAQ–2017–046); 80693 

(May 16, 2017), 82 FR 23363 (May 22, 2017) (SR– 

NYSE–2017–22); 80698 (May 16, 2017), 82 FR 

23457 (May 22, 2017) (SR–NYSEArca–2017–52); 

and 80694 (May 16, 2017), 82 FR 23416 (May 22, 

2017) (SR–NYSEMKT–2017–26). 

24See Securities Exchange Act Release No. 80710 

(May 17, 2017), 82 FR 23639 (May 23, 2017) (SR– 

FINRA–2017–011). 

25See Securities Exchange Act Release Nos. 

80721 (May 18, 2017), 82 FR 23864 (May 24, 2017) 

(SR–BOX–2017–16); 80713 (May 18, 2017), 82 FR 

23956 (May 24, 2017) (SR–GEMX–2017–17); 80715 

(May 18, 2017), 82 FR 23895 (May 24, 2017) (SR– 

ISE–2017–45); 80726 (May 18, 2017), 82 FR 23915 

(May 24, 2017) (SR–MRX–2017–04); and 80725 

(May 18, 2017), 82 FR 23935 (May 24, 2017) (SR– 

PHLX–2017–37). 

26See Securities Exchange Act Release Nos. 

80786 (May 26, 2017), 82 FR 25474 (June 1, 2017) 

(SR–C2–2017–017); 80785 (May 26, 2017), 82 FR 

25404 (June 1, 2017) (SR–CBOE–2017–040); and 

80784 (May 26, 2017), 82 FR 25448 (June 1, 2017) 

(SR–BatsEDGA–2017–13). 

27See Securities Exchange Act Release No. 80809 

(May 30, 2017), 82 FR 25837 (June 5, 2017) (SR– 

BatsBYX–2017–11). 

28See Securities Exchange Act Release Nos. 

80822 (May 31, 2017), 82 FR 26148 (June 6, 2017) 

(SR–BatsBZX–2017–38); and 80821 (May 31, 2017), 

82 FR 26177 (June 6, 2017) (SR–BatsEDGX–2017– 

22). 

29Since the Participants’ proposed rule changes 

to adopt fees to be charged to Industry Members to 

fund the consolidated audit trail are substantively 

identical, the Commission is considering all 

comments received on the proposed rule changes 

regardless of the comment file to which they were 

submitted. See Letter from Theodore R. Lazo, 

Managing Director and Associate General Counsel, 

Securities Industry and Financial Markets 

Association, to Brent J. Fields, Secretary, 

Commission (dated June 6, 2017), available at: 

https://www.sec.gov/comments/sr-batsbzx-2017-38/ 

batsbzx201738-1788188-153228.pdf; Letter from 

Patricia L. Cerny and Steven O’Malley, Compliance 

Consultants, to Brent J. Fields, Secretary, 

Commission (dated June 12, 2017), available at: 

https://www.sec.gov/comments/sr-cboe-2017-040/ 

cboe2017040-1799253-153675.pdf; Letter from 

Daniel Zinn, General Counsel, OTC Markets Group 

Inc., to Eduardo A. Aleman, Assistant Secretary, 

Commission (dated June 13, 2017), available at: 

https://www.sec.gov/comments/sr-finra-2017-011/ 

finra2017011-1801717-153703.pdf; Letter from 

Joanna Mallers, Secretary, FIA Principal Traders 

Group, to Brent J. Fields, Secretary, Commission 

(dated June 22, 2017), available at: https:// 

www.sec.gov/comments/sr-cboe-2017-040/ 

cboe2017040-1819670-154195.pdf; Letter from 

Stuart J. Kaswell, Executive Vice President and 

Managing Director, General Counsel, Managed 

Funds Association, to Brent J. Fields, Secretary, 

Commission (dated June 23, 2017), available at: 

https://www.sec.gov/comments/sr-finra-2017-011/ 

finra2017011-1822454-154283.pdf; and Letter from 

Suzanne H. Shatto, Investor, to Commission (dated 

June 27, 2017), available at: https:/www.sec.gov/ 

comments/sr-batsedgx-2017-22/batsedgx201722- 

154443.pdf. The Commission also received a 

comment letter which is not pertinent to these 

proposed rule changes. See Letter from Christina 

Crouch, Smart Ltd., to Brent J. Fields, Secretary, 

Commission (dated June 5, 2017), available at: 

htps://www.sec.gov/comments/sr-batsbzx-2017-38/ 

batsbzx201738-1785545-153152.htm. 

30See Letter from CAT NMS Plan Participants to 

Brent J. Fields, Secretary, Commission (dated June 

29, 2017), available at: https://www.sec.gov/ 

comments/sr-batsbyx-2017-11/batsbyx201711- 

1832632-154584.pdf. 

31See Securities Exchange Act Release No. 81067 

(June 30, 2017), 82 FR 31656 (July 7, 2017). 

32See Letter from W. Hardy Callcott, Partner, 

Sidley Austin LLP, to Brent J. Fields, Secretary, 

Commission (dated July 27, 2017), available at: 

https://www.sec.gov/comments/sr-batsbyx-2017-11/ 

batsbyx201711-2148338-157737.pdf; Letter from 

Kevin Coleman, General Counsel and Chief 

Compliance Officer, Belvedere Trading LLC, to 

Brent J. Fields, Secretary, Commission (dated July 

28, 2017), available at: https://www.sec.gov/ 

comments/sr-batsbyx-2017-11/batsbyx201711- 

2148360-157740.pdf; Letter from Joanna Mallers, 

Secretary, FIA Principal Traders Group, to Brent J. 

Fields, Secretary, Commission (dated July 28, 2017), 

available at: https://www.sec.gov/comments/srbatsbyx-2017-11/batsbyx201711-2151228- 

157745.pdf; Letter from Theodore R. Lazo, 

Managing Director and Associate General Counsel, 

SIFMA, to Brent J. Fields, Secretary, Commission 

(dated July 28, 2017), available at: https://

www.sec.gov/comments/sr-batsbyx-2017-11/ 

batsbyx201711-2150977-157744.pdf; Letter from 

Stuart J. Kaswell, Executive Vice President and 

Managing Director, General Counsel, Managed 

Funds Association, to Brent J. Fields, Secretary, 

Commission (dated July 28, 2017), available at: 

https://www.sec.gov/comments/sr-batsbyx-2017-11/ 

batsbyx201711-2150818-157743.pdf; Letter from 

John Kinahan, Chief Executive Officer, Group One 

Trading, L.P., to Brent J. Fields, Secretary, 

Commission (dated August 10, 2017), available at: 

https://www.sec.gov/comments/sr-finra-2017-011/ 

finra2017011-2214568-160619.pdf; Letter from 

Joseph Molluso, Executive Vice President and CFO, 

Virtu Financial, to Brent J. Fields, Commission 

(dated August 18, 2017), available at: https://

www.sec.gov/comments/sr-finra-2017-011/ 

finra2017011-2238648-160830.pdf. 

33See Letter from Michael Simon, Chair, CAT 

NMS Plan Operating Committee, to Brent J. Fields, 

Commission, Secretary (dated November 2, 2017), 

available at https://www.sec.gov/comments/srbatsbyx-2017-11/batsbyx201711-2674608- 

161412.pdf. 

34 15 U.S.C. 78s(b)(2). 

MKT’’) (n/k/a NYSE American LLC) 17

(collectively, the ‘‘Participants’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’), 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 18 and Rule 19b–4 thereunder,19

proposed rule changes to adopt fees to 

be charged to Industry Members to fund 

the consolidated audit trail (‘‘CAT’’).20

The proposed rule changes were 

immediately effective upon filing with 

the Commission pursuant to Section 

19(b)(3)(A) of the Act.21 The proposed 

rule changes submitted by MIAX and 

PEARL were published for comment in 

the Federal Register on May 19, 2017.22

The proposed rule changes submitted by 

BX, CHX, IEX, Nasdaq, NYSE, NYSE 

Arca and NYSE MKT were published 

for comment in the Federal Register on 

May 22, 2017.23 The proposed rule 

change submitted by FINRA was 

published for comment in the Federal 

Register on May 23, 2017.24 The 

proposed rule changes submitted by 

BOX, GEMX, ISE, MRX and Phlx were 

published for comment in the Federal 

Register on May 24, 2017.25 The 

proposed rule changes submitted by C2, 

CBOE and Bats EDGA were published 

for comment in the Federal Register on 

June 1, 2017.26 The proposed rule 

change submitted by Bats BYX was 

published for comment in the Federal 

Register on June 5, 2017.27 The 

proposed rule changes submitted by 

Bats BZX and Bats EDGX were 

published for comment in the Federal 

Register on June 6, 2017.28 The 

Commission received seven comment 

letters on the proposed rule change,29

and a response to comments from the 

Participants.30 On June 30, 2017, the 

Commission temporarily suspended and 

initiated proceedings to determine 

whether to approve or disapprove the 

proposed rule changes.31 The 

Commission thereafter received seven 

comment letters,32 and a response to 

comments from the Participants.33

NYSE, NYSE Arca and NYSE MKT filed 

Amendment No. 1 to their proposed 

rule changes on October 25, 2017. IEX 

filed Amendment No. 1 to its proposed 

rule change on October 31, 2017. On 

November 3, 2017, Bats BYX, Bats BZX, 

Bats EDGA, Bats EDGX, CBOE and C2 

filed Amendment No. 1 to their 

proposed rule changes. Nasdaq, BX, 

Phlx, ISE, MRX, and GEMX filed 

Amendment No. 1 to their proposed 

rule changes on November 6, 2017. On 

November 7, 2017, BOX, MIAX and 

PEARL filed Amendment No. 1 to their 

proposed rule changes. 

Section 19(b)(2) of the Act 34 provides 

that, after instituting proceedings, the 

Commission shall issue an order 

approving or disapproving a proposed 

rule change not later than 180 days after 

the date of publication of notice of filing 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
Federal Register / Vol. 82, No. 220 / Thursday, November 16, 2017 / Notices 53551 

35 15 U.S.C. 78s(b)(2)(B)(ii)(I). 36 15 U.S.C. 78s(b)(2)(B)(ii)(II)(aa). 37See supra note 22. 38See supra note 23. 39See supra note 24. 

40See supra note 25. 

41See supra note 26. 

42See supra note 27. 

43See supra note 28. 

44 15 U.S.C. 78s(b)(2). 45 17 CFR 200.30–3(a)(57). 

1This estimate is based on the following 

calculation: (1.5 hours × 3 responses annually = 4.5 

hours). 

2This estimate is based on a review of Form 

N–17f–1 filings made with the Commission over the 

last three years. 

3This estimate is based on the following 

calculations: (4.5 hours × 6 funds = 27 total hours). 

of the proposed rule change.35 The 

Commission may, however, extend the 

period for issuing an order approving or 

disapproving the proposed rule change 

by not more than 60 days if the 

Commission determines that a longer 

period is appropriate and publishes the 

reasons for such determination.36 The 

180th day for the proposed rule changes 

published in the Federal Register on 

May 19, 2017,37 is November 15, 2017. 

The 180th day for the proposed rule 

changes published in the Federal 

Register on May 22, 2017,38 is 

November 18, 2017. The 180th day for 

the proposed rule change published in 

the Federal Register on May 23, 2017,39

is November 19, 2017. The 180th day for 

the proposed rule changes published in 

the Federal Register on May 24, 2017,40

is November 20, 2017. The 180th day for 

the proposed rule changes published in 

the Federal Register on June 1, 2017,41

is November 28, 2017. The 180th day for 

the proposed rule change published in 

the Federal Register on June 5, 2017,42

is December 2, 2017. The 180th day for 

the proposed rule changes published in 

the Federal Register on June 6, 2017,43

is December 3, 2017. 

The Commission is extending the 180- 

day time period for Commission action 

on each of the proposed rule changes. 

The Commission finds it appropriate to 

designate a longer period within which 

to issue an order approving or 

disapproving the proposed rule changes 

so that it has sufficient time to consider 

the proposed rule changes, the issues 

raised in the comment letters that have 

been submitted in connection therewith, 

the Participants’ response to the 

comments, and the amendments to the 

proposed rule changes. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the 

Act,44 designates January 14, 2018 as the 

date by which the Commission shall 

either approve or disapprove the 

proposed rule changes (File Nos. SR– 

BatsBYX–2017–11; SR–BatsBZX–2017– 

38; SR–BatsEDGA–2017–13; SR– 

BatsEDGX–2017–22; SR–BOX–2017–16; 

SR–BX–2017–023; SR–C2–2017–017; 

SR–CBOE–2017–040; SR–CHX–2017– 

08; SR–FINRA–2017–011; SR–GEMX– 

2017–17; SR–IEX–2017–16; SR–ISE– 

2017–45; SR–MIAX–2017–18; SR– 

MRX–2017–04; SR–NASDAQ–2017– 

046; SR–NYSE–2017–22; SR– 

NYSEArca–2017–52; SR–NYSEMKT– 

2017–26; SR–PEARL–2017–20; SR– 

PHLX–2017–37). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.45

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24781 Filed 11–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–316, OMB Control No. 

3235–0359] 

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: 

Form N–17f–1 

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 (the 

‘‘Commission’’) is soliciting comments 

on the collections 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. 

Form N–17f–1 (17 CFR 274.219) is 

entitled ‘‘Certificate of Accounting of 

Securities and Similar Investments of a 

Management Investment Company in 

the Custody of Members of National 

Securities Exchanges.’’ The form serves 

as a cover sheet to the accountant’s 

certificate that is required to be filed 

periodically with the Commission 

pursuant to rule 17f–1 (17 CFR 270.17f– 

1) under the Act, entitled ‘‘Custody of 

Securities with Members of National 

Securities Exchanges,’’ which sets forth 

the conditions under which a fund may 

place its assets in the custody of a 

member of a national securities 

exchange. Rule 17f–1 requires, among 

other things, that an independent public 

accountant verify the fund’s assets at the 

end of every annual and semi-annual 

fiscal period, and at least one other time 

during the fiscal year as chosen by the 

independent accountant. Requiring an 

independent accountant to examine the 

fund’s assets in the custody of a member 

of a national securities exchange assists 

Commission staff in its inspection 

program and helps to ensure that the 

fund assets are subject to proper 

auditing procedures. The accountant’s 

certificate stating that it has made an 

examination, and describing the nature 

and the extent of the examination, must 

be attached to Form N–17f–1 and filed 

with the Commission promptly after 

each examination. The form facilitates 

the filing of the accountant’s certificates, 

and increases the accessibility of the 

certificates to both Commission staff 

and interested investors. 

Commission staff estimates that it 

takes: (i) 1 Hour of clerical time to 

prepare and file Form N–17f–1; and (ii) 

0.5 hour for the fund’s chief compliance 

officer to review Form N–17f–1 prior to 

filing with the Commission, for a total 

of 1.5 hours. Each fund is required to 

make 3 filings annually, for a total 

annual burden per fund of 

approximately 4.5 hours.1 Commission 

staff estimates that an average of 6 funds 

currently file Form N–17f–1 with the 

Commission 3 times each year, for a 

total of 18 responses annually.2 The 

total annual hour burden for Form 

N–17f–1 is therefore estimated to be 

approximately 27 hours.3

The estimate of average burden hours 

is made solely for the purposes of the 

Paperwork Reduction Act, and is not 

derived from a comprehensive or even 

a representative survey or study of the 

costs of Commission rules. Compliance 

with the collections of information 

required by Form N–17f–1 is mandatory 

for funds that place their assets in the 

custody of a national securities 

exchange member. 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 Commission requests written 

comments on: (a) Whether the 

collections of information are necessary 

for the proper performance of the 

functions of the Commission, including 

whether the information has practical 

utility; (b) the accuracy of the 

Commission’s estimate of the burdens 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 


asabaliauskas on DSKBBXCHB2PROD with NOTICES