[Federal Register Volume 77, Number 229 (Wednesday, November 28, 2012)]
[Notices]
[Pages 71026-71028]
[FR Doc No: 2012-28799]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68283; File No. SR-NYSE-2012-45]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Amending Its Price List To Specify Pricing That Is Currently Applicable
to Certain Executions on the Exchange, but That Is Not Currently
Included in the Price List

November 21, 2012.
    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 November 9, 2012, New York Stock Exchange LLC (the
``Exchange'' or ``NYSE'') 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
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend its Price List to specify pricing
that is currently applicable to certain executions on the Exchange, but
that is not currently included in the Price List. The text of the
proposed rule 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange is proposing to amend its Price List to specify
pricing that is currently applicable to certain executions on the
Exchange, but that is not currently included in the Price List. The
Exchange proposes to make the changes immediately effective and
operative.
    Specifically, the Exchange proposes to include the following
changes to the Price List to reflect pricing that is currently being
assessed for the following intraday transactions: (1) A $0.0005 fee for
a Floor broker discretionary e-Quote (``d-Quote'') that takes liquidity
in a security priced $1 or above; (2) no charge (i.e., free) for a non-
electronic agency transaction of a Floor broker that executes against
the Book, both in a security priced $1 or above and in a security
priced below $1; (3) no charge for a non-electronic agency transaction
between Floor brokers in the crowd in a security priced below $1; and
(4) no charge for an agency cross trade (i.e., a trade where a member
organization has customer orders to buy and sell an equivalent amount
of the same security) in a security priced below $1.
d-Quotes
    The Exchange proposes to specify in the Price List that a d-Quote
that removes liquidity from the Book is charged $0.0005 per share if
the security is priced $1 or above.\3\ A d-Quote that adds liquidity to
the Book in a security priced $1 or above will continue to receive a
credit of $0.0019 per share.\4\ Similarly, a d-Quote that adds
liquidity to the Book in a security priced below $1 will continue to
receive a credit of $0.0004 per share.\5\ Also, a d-Quote that removes
liquidity from the Book in a security priced below $1 will continue to
be charged a fee equal to 0.3% of the total dollar volume of the
transaction.\6\
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    \3\ The Exchange has charged for d-Quotes that removed liquidity
since October 2007.
    \4\ This is in accordance with the current Price List and
therefore the Exchange is not proposing a new or separate line item
therein for this type of transaction.
    \5\ Id.
    \6\ Id.
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Non-Electronic Agency Transactions
    The Exchange proposes to specify in the Price List that a non-
electronic agency transaction of a Floor broker that executes against
the Book is not charged (i.e., it is free),\7\ both for a security
priced $1 or above and for a security priced below $1.\8\ This is the
same rate (i.e., free) that is currently specified in the Price List
for non-electronic agency transactions between Floor brokers in the
crowd in securities priced $1 or above. In this regard, the Exchange
also proposes to specify in the Price List that there is no charge for
a non-electronic agency transaction between Floor brokers in the crowd
in a security priced below $1.\9\
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    \7\ Because of the nature of non-electronic trading interest
(i.e., verbal/manual interest), the concept of adding and removing
liquidity is not applicable.
    \8\ The Exchange began charging for a non-electronic agency
transaction of a Floor broker that executed against the Book in
October 2007. Beginning in March 2009, the Exchange no longer
charged for this type of transaction.
    \9\ The Exchange has not charged for a non-electronic agency
transaction between Floor brokers in the crowd in a security priced
below $1 since October 2007, if the transaction was for 10,000
shares or more, and since March 2009, if the transaction was for
fewer than 10,000 shares.
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Agency Cross Trades
    The Price List currently specifies that an agency cross trade is
not charged for a security priced $1 or above.\10\ Similarly, the
Exchange proposes to specify in the Price List that there is no charge
for an agency cross trade in a security priced below $1.\11\
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    \10\ Because of the nature of an agency cross trade (i.e., the
member organization already has customer orders to buy and sell an
equivalent amount of the same security), the concept of adding and
removing liquidity is not applicable.
    \11\ The Exchange has not charged for an agency cross trade in a
security priced below $1 since October 2007, if the transaction was
for 10,000 shares or more, and since March 2009, if the transaction
was for fewer than 10,000 shares.
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Securities Exchange Act of 1934 (the
``Act''),\12\ in general, and furthers the objectives of Section
6(b)(4) of the Act,\13\ 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.
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    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposed d-Quote rate of $0.0005 per
share for securities priced $1 or above is reasonable because, when
compared to the rate that would otherwise apply (i.e., $0.0024 per
share for all other Floor broker transactions that take liquidity from
the Exchange) it may encourage additional liquidity during

the trading day and may incentivize Floor brokers to provide additional
intra-quote price improved trading, which would contribute to the
quality of the Exchange's market. The Exchange also believes that the
proposed rate of $0.0005 per share is equitable and not unfairly
discriminatory because it may provide opportunities for Floor brokers
to attract additional liquidity to the Floor and thereby increase the
quality of order execution on the Exchange's market, which benefits all
market participants.
    Additionally, the Exchange believes that not charging for a non-
electronic agency transaction of a Floor Broker that executes against
the Book, in both securities priced $1 or above as well as securities
priced below $1, is reasonable because it would be set at a level that
would align the rate with certain other non-electronic agency Floor
broker interest that is similarly not charged. In this regard, and as
noted above, the Exchange does not charge for executions of non-
electronic agency transactions between Floor brokers in the crowd.\14\
Additionally, the Exchange believes that this is equitable and not
unfairly discriminatory because a non-electronic agency transaction of
a Floor broker would be used, for example, at a time of the trading day
when a Floor broker is physically present at the point of sale and
requires flexibility to represent customer interest, which is unique to
a Floor broker, but which may also result in added opportunity cost and
uncertainty for the Floor broker when compared to an electronic
execution.
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    \14\ The Commission notes that the Exchange does not charge for
executions of non-electronic agency transactions between Floor
brokers in the crowd for transactions in stocks with a per share
stock price of $1.00 or more.
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    The Exchange also believes that it is reasonable to specify that a
non-electronic agency transaction between Floor brokers in the crowd is
not charged for securities priced below $1 because doing so will add
greater specificity to the Price List by reflecting that it is the same
as the rate charged for such transactions in securities priced $1 or
above. This is also equitable and not unfairly discriminatory because
it would provide greater certainty regarding the applicable rates for
transactions in securities priced below $1. The Exchange believes that
not charging for these transactions is further reasonable because it
may incentivize additional liquidity in these low-priced securities,
which typically are more thinly-traded and less liquid than securities
priced $1 or above. Accordingly, it is also equitable and not unfairly
discriminatory to not charge for these transactions because the
increased liquidity that may result in these securities would increase
the quality of order execution on the Exchange's market, which benefits
all market participants. Finally, and as described above for a non-
electronic agency transaction of a Floor broker that executes against
the Book, the Exchange believes that this is equitable and not unfairly
discriminatory because non-electronic agency transactions between Floor
brokers in the crowd occur, for example, at a time of the trading day
when a Floor broker is physically present at the point of sale and
requires flexibility to represent customer interest, which is unique to
a Floor broker, but which may also result in added opportunity cost and
uncertainty for the Floor broker when compared to an electronic
execution.
    The Exchange also believes that it is reasonable to specify that an
agency cross trade is not charged for securities priced below $1
because doing so will add greater specificity to the Price List by
reflecting that it is the same as the rate charged for such
transactions in securities priced $1 or above. This is also equitable
and not unfairly discriminatory because it would provide greater
certainty regarding the applicable rates for transactions in securities
priced below $1. The Exchange believes that not charging for these
transactions is further reasonable because of the nature of an agency
cross trade, in that it is a trade where a member organization has
customer orders to buy and sell an equivalent amount of the same
security.\15\
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    \15\ See supra note 10.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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) \16\ of the Act and subparagraph (f)(2) of Rule
19b-4 \17\ thereunder, because it establishes a due, fee, or other
charge imposed by the NYSE.
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    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 17 CFR 240.19b-4(f)(2).
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    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.

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<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2012-45 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2012-45. 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-NYSE-2012-45 and should be submitted on or before December 19, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28799 Filed 11-27-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 172 (Thursday, September 9, 2021)]
[Notices]
[Pages 50544-50545]
[FR Doc No: 2021-19480]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2018-N-3037]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Generic Clearance for Quantitative Testing for the
Development of Food and Drug Administration Communications

AGENCY: Food and Drug Administration, Health and Human Services (HHS).

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA or Agency) is announcing
an opportunity for public comment on the proposed collection of certain
information by the Agency. Under the Paperwork Reduction Act of 1995
(PRA), Federal agencies are required to publish notice in the Federal
Register concerning each proposed collection of information, including
each proposed extension of an existing collection of information, and
to allow 60 days for public comment in response to the notice. This
notice solicits comments on the collection of information entitled
``Generic Clearance for Quantitative Testing for the Development of FDA
Communications,'' which collects individual generic quantitative
information (e.g., surveys, experimental studies) to test
communications or educational messages on FDA-regulated food and
cosmetic products, dietary supplements, and animal food and feed while
they are being developed or are in review.

DATES: Submit either electronic or written comments on the collection
of information by November 8, 2021.

ADDRESSES: You may submit comments as follows. Please note that late,
untimely filed comments will not be considered. Electronic comments
must be submitted on or before November 8, 2021. The https://www.regulations.gov electronic filing system will accept comments until
11:59 p.m. Eastern Time at the end of November 8, 2021. Comments
received by mail/hand delivery/courier (for written/paper submissions)
will be considered timely if they are postmarked or the delivery
service acceptance receipt is on or before that date.

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand Delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2018-N-3037 for ``Agency Information Collection Activities;
Proposed Collection; Comment Request; Generic Clearance for
Quantitative Testing for the Development of FDA Communications.''
Received comments, those filed in a timely manner (see ADDRESSES), will
be placed in the docket and, except for those submitted as
``Confidential Submissions,'' publicly viewable at https://www.regulations.gov or at the Dockets Management Staff between 9 a.m.
and 4 p.m., Monday through Friday,<PHONE_NUMBER>.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with 21 CFR 10.20 and other
applicable disclosure law. For more information about FDA's posting of
comments to public dockets, see 80 FR 56469, September 18, 2015, or
access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Rachel Showalter, Office of
Operations, Food and Drug Administration, Three White Flint North, 10A-
12M, 11601 Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3521), Federal
Agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) and includes Agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal Agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information, including
each proposed extension of an existing collection of information,
before submitting the collection to OMB for approval. To comply with
this requirement, FDA is publishing notice of the proposed collection
of information set forth in this document.
    With respect to the following collection of information, FDA
invites comments on these topics: (1) Whether

the proposed collection of information is necessary for the proper
performance of FDA's functions, including whether the information will
have practical utility; (2) the accuracy of FDA's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used; (3) ways to enhance
the quality, utility, and clarity of the information to be collected;
and (4) ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques, when appropriate, and other forms of information
technology.

Generic Clearance for Quantitative Testing for the Development of FDA
Communications

OMB Control Number 0910-0865--Extension

    This notice requests extension of OMB approval of the FDA
information collection for a generic clearance that allows FDA to use
quantitative social/behavioral science data collection techniques
(i.e., surveys and experimental studies) to test consumers' reactions
to FDA communications or educational messaging about FDA-regulated food
and cosmetic products, dietary supplements, and animal food and feed.
To ensure that communications activities and educational campaigns have
the highest potential to be received, understood, and accepted by those
for whom they are intended, it is important to assess communications
while they are under development. Understanding consumers' attitudes,
motivations, and behaviors in response to potential communications and
education messaging plays an important role in improving FDA's
communications.
    If the following conditions are not met, FDA will submit an
information collection request to OMB for approval through the normal
PRA process:
     The collections are voluntary;
     The collections are low burden for participants (based on
considerations of total burden hours, total number of participants, or
burden hours per participant) and are low cost for both the
participants and the Federal Government;
     The collections are noncontroversial;
     Personally-identifiable information (PII) is collected
only to the extent necessary \1\ and is not retained;
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    \1\ For example, collections that collect PII to provide
remuneration for participants of focus groups and cognitive
laboratory studies will be submitted under this request. All Privacy
Act requirements will be met.
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     Information gathered will not be used for the purpose of
substantially informing influential policy decisions; \2\ and
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    \2\ As defined in OMB and Agency Information Quality Guidelines,
``influential'' means that ``an agency can reasonably determine that
dissemination of the information will have or does have a clear and
substantial impact on important public policies or important private
sector decisions.''
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     Information gathered will yield qualitative findings; the
collections will not be designed or expected to yield statistical data
or used as though the results are generalizable to the population of
study.
    To obtain approval for an individual generic collection submission
that meets the conditions of this generic clearance, an abbreviated
supporting statement will be submitted to OMB along with supporting
documentation (e.g., a copy of the survey or experimental design and
stimuli for testing).
    FDA will submit individual quantitative collections under this
generic clearance to OMB. Individual quantitative collections will also
undergo review by FDA's Research Involving Human Subjects Committee,
senior leadership in the Center for Food Safety and Applied Nutrition,
and PRA specialists.
    Respondents to this collection of information may include a wide
range of consumers and other FDA stakeholders such as producers and
manufacturers who are regulated under FDA-regulated food and cosmetic
products, dietary supplements, and animal food and feed.
    We estimate the burden of this collection of information as
follows:

              Table 1--Estimated Annual Reporting Burden by Anticipated Data Collection Methods \1\
----------------------------------------------------------------------------------------------------------------
                                                   Number of
                                   Number of      disclosures    Total annual    Average  burden
          Survey type             respondents         per         disclosures     per response     Total  hours
                                                  respondent
----------------------------------------------------------------------------------------------------------------
Cognitive Interviews Screener.             720               1             720  0.083 (5                      60
                                                                                minutes).
Cognitive Interviews..........             144               1             144  1...............             144
Pre-test Study Screener.......           2,400               1           2,400  0.083 (5                     199
                                                                                minutes).
Pre-test Study................             480               1             480  0.25 (15                     120
                                                                                minutes).
Self-administered Surveys/              75,000               1          75,000  0.083 (5                   6,225
 Experimental Studies Screener.                                                  minutes).
Self-administered Surveys/              15,000               1          15,000  0.25 (15                   3,750
 Experimental Studies.                                                           minutes).
                               ---------------------------------------------------------------------------------
    Total.....................  ..............  ..............  ..............  ................          10,498
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\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    Based on a review of the information collection since our last
request for OMB approval, we have made no adjustments to our burden
estimate. The total estimated annual burden is 10,498 hours. Current
estimates are based on both historical numbers of participants from
past projects as well as estimates for projects to be conducted in the
next 3 years. The number of participants to be included in each new
survey will vary, depending on the nature of the compliance efforts and
the target audience.

    Dated: September 3, 2021.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2021-19480 Filed 9-8-21; 8:45 am]
BILLING CODE 4164-01-P