Federal Register 60-Day Notice

Federal Register / Vol. 90, No. 122 / Friday, June 27, 2025 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–11874 Filed 6–26–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0721]

ddrumheller on DSK120RN23PROD with NOTICES1

Proposed Collection; Comment
Request; Extension: Form 1–SA
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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
(‘‘Commission’’) is soliciting comments
on the collection 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 1–SA (17 CFR 239.92) is used to
file semiannual reports by Tier 2 issuers
under Regulation A, an exemption from
registration under the Securities Act of
1933 (15 U.S.C. 77a et seq.). Tier 2
issuers under Regulation A conducting
offerings of up to $75 million within a
12-month period are required to file
Form 1–SA. Form 1–SA provides
semiannual, interim financial
statements and information about the
issuer’s liquidity, capital resources and
operations after the issuer’s second
fiscal quarter. The purpose of the Form
1–SA is to better inform the public
about companies that have conducted
Tier 2 offerings under Regulation A. We
estimate that approximately 464 issuers
file Form 1–SA annually. We estimate
that Form 1–SA takes approximately
188.04 hours to prepare. We estimate
that 85% of the 188.04 hours per
response (159.834 hours) is carried
internally by the issuer for a total
annual burden of 74,163 hours (159.834
hours per response × 464 responses). We
estimate that 15% of the approximately
188.04 hours per response (28.206
hours) is carried by outside
professionals retained by the issuer to
assist in the preparation of the form, at
an estimated cost of $600 per hour, for
a total annual cost burden of $7,852,550
(28.206 hours per response × $600 per
hour × 464 responses annually).

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 OMB
Control Number.
Written comments are invited on: (a)
whether this proposed collection of
information is necessary for the proper
performance of the functions of the SEC,
including whether the information will
have practical utility; (b) the accuracy of
the SEC’s estimate of the burden
imposed by the proposed collection of
information, including the validity of
the methodology and the assumptions
used; (c) ways to enhance the quality,
utility, and clarity of the information to
be collected; and (d) ways to minimize
the burden of the collection of
information on respondents, including
through the use of automated, electronic
collection techniques or other forms of
information technology.
Please direct your written comments
on this 60-Day Collection Notice to
Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by August 26, 2025. There will
be a second opportunity to comment on
this SEC request following the Federal
Register publishing a 30-Day
Submission Notice.
Dated: June 24, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–11864 Filed 6–26–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–103317; File No. SR–
MEMX–2025–18]

Self-Regulatory Organizations; MEMX
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend Rule 4.10 of the
Exchange’s Compliance Rule
Regarding the National Market System
Plan Governing the Consolidated Audit
Trail To Be Consistent With the
Exemptive Relief Granted by the
Commission From Certain Provisions
Related to Timestamp Granularity
June 24, 2025.

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 June 17,
2025, MEMX LLC (‘‘MEMX’’ or the
‘‘Exchange’’) filed with the Securities
1 15

20 17

CFR 200.30–3(a)(12) and (59).

VerDate Sep<11>2014

18:32 Jun 26, 2025

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2 17

PO 00000

U.S.C. 78s(b)(1).
CFR 240.19b–4.

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and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing with the
Commission a proposed rule change to
amend Rule 4.10 of the Exchange’s
compliance rule (‘‘CAT Compliance
Rule’’) regarding the National Market
System Plan Governing the
Consolidated Audit Trail (the ‘‘CAT
NMS Plan’’ or ‘‘Plan’’) 3 to be consistent
with the exemptive relief granted by the
Commission from certain provisions of
the CAT NMS Plan related to timestamp
granularity (‘‘2025 Timestamp
Granularity Exemption’’).4 Specifically,
the Exchange proposes to update the
expiration date of the exemption in Rule
4.10(a)(2) from April 8, 2025 to April 8,
2030. A notice of the proposed rule
change for publication in the Federal
Register is attached hereto as Exhibit 1,
and the text of the proposed rule change
is attached as Exhibit 5.
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
Exchange 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. The
Exchange 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. Purpose
The purpose of this proposed rule
change is to amend Rule 4.10 of the
CAT Compliance Rule to be consistent
with the 2025 Timestamp Granularity
Exemption. Under the 2025 Timestamp
Granularity Exemption, the Commission
extended the existing exemptive relief
3 Unless otherwise specified, capitalized terms
used in this rule filing are defined as set forth in
the CAT Compliance Rule.
4 Securities Exchange Act Rel. No. 102980 (May
2, 2025), 90 FR 19334 (May 7, 2025).

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