Federal Register 60-Day Notice

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Federal Register / Vol. 90, No. 138 / Tuesday, July 22, 2025 / Notices

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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
SAPPHIRE–2025–29 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.

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All submissions should refer to file
number SR–SAPPHIRE–2025–29. 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 website (https://www.sec.gov/
rules/sro.shtml). Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–SAPPHIRE–2025–29 and should be
submitted on or before August 12, 2025.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.32
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–13724 Filed 7–21–25; 8:45 am]
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CFR 200.30–3(a)(12).

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[OMB Control No. 3235–0120]

Proposed Collection; Comment
Request; Extension: Form 18–K—
Annual Report
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 (‘‘OMB’’) for
extension and approval.
Form 18–K (17 CFR 249.318) is an
annual report form used by foreign
governments or political subdivisions of
foreign governments that have
securitieslisted on a United States
exchange. The information to be
collected is intended to ensure the
adequacy and public availability of
information available to investors.
Weestimate that Form 18–K takes
approximately 8 hours to prepare and is
filed once per year by approximately 37
respondents for a total annual reporting
burden of296 hours (8 hours per
response × 37 responses). We estimate
that there is no cost associated with this
information collection because 100% of
the burden is carried internally by the
issuer.
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
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by 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 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

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Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by September 22, 2025. There
will be a second opportunity to
comment on this SEC request following
the Federal Register publishing a 30Day Submission Notice.
Dated: July 17, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–13716 Filed 7–21–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
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[OMB Control No. 3235–0504]

Proposed Collection; Comment
Request; Extension: Rule 19b–4(e)
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 (‘‘SEC’’ or
‘‘Commission’’) is soliciting comments
on the proposed collection of
information.
Rule 19b–4(e), 17 CFR 240.19b–4(e),
permits a self-regulatory organization
(‘‘SRO’’) to list and trade a new
derivative securities product without
submitting a proposed rule change
pursuant to Section 19(b) of the Act (15
U.S.C. 78s(b)), so long as such product
meets the criteria of Rule 19b–4(e)
under the Act. However, in order for the
Commission to maintain an accurate
record of all new derivative securities
products traded on the SROs, Rule 19b–
4(e) requires an SRO to publicly report
certain information on its internet
website using the most recent versions
of the XML schema and the associated
PDF renderer as published on the
Commission’s website for each new
derivative securities product within five
business days of beginning to trade such
new derivative securities product. In
addition, Rule 19b–4(e) requires an SRO
to maintain, on-site, that information for
a prescribed period of time.
This collection of information is
designed to allow the Commission to
maintain an accurate record of all new
derivative securities products traded on
the SROs that are not deemed to be
proposed rule changes and to determine
whether an SRO has properly availed
itself of the permission granted by Rule
19b–4(e). The Commission reviews SRO
compliance with Rule 19b–4(e) through
its routine inspections of the SROs.

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Federal Register / Vol. 90, No. 138 / Tuesday, July 22, 2025 / Notices

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The respondents to the collection of
information are SROs (as defined by the
Act), all of which are national securities
exchanges. As of July 15, 2025 there are
twenty-eight entities registered as
national securities exchanges with the
Commission. The Commission receives
an average total of 2,626 responses per
year, which corresponds to an estimated
annual response burden of 2,626 hours.
At an average hourly cost of $72, the
aggregate related internal cost of
compliance with Rule 19b–4(e) is
$189,072 (2,626 burden hours
multiplied by $72/hour).
Compliance with Rule 19b–4(e) is
mandatory. Information received in
response to Rule 19b–4(e) shall not be
kept confidential; the information
collected is public information.
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 September 22, 2025. There
will be a second opportunity to
comment on this SEC request following
the Federal Register publishing a 30Day Submission Notice.
Dated: July 17, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–13718 Filed 7–21–25; 8:45 am]
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Esq., Thompson Hine LLP,
JoAnn.Strasser@thompsonhine.com.

[Investment Company Act Release No.
35682; File No. 812–15620]

FOR FURTHER INFORMATION CONTACT:

Denali Structured Return Strategy
Fund, et al.

Jill
Ehrlich, Senior Counsel, or Adam Large,
Senior Special Counsel, at (202) 551–
6825 (Division of Investment
Management, Chief Counsel’s Office).

July 17, 2025.

SUPPLEMENTARY INFORMATION:

Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:

Notice of application for an order
under sections 17(d) and 57(i) of the
Investment Company Act of 1940 (the
‘‘Act’’) and rule 17d–1 under the Act to
permit certain joint transactions
otherwise prohibited by sections 17(d)
and 57(a)(4) of the Act and rule 17d–1
under the Act.
SUMMARY OF APPLICATION: Applicants
request an order to permit certain
business development companies and
closed-end management investment
companies to co-invest in portfolio
companies with each other and with
certain affiliated investment entities.
APPLICANTS: Denali Structured Return
Strategy Fund, Niagara Income
Opportunities Fund, Liquid Strategies,
LLC, and Teton Private Income Fund
L.P.
FILING DATES: The application was filed
on August 28, 2024 and amended on
March 17, 2025, April 15, 2025, and July
16, 2025.
HEARING OR NOTIFICATION OF HEARING: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing on any application by
emailing the SEC’s Secretary at
Secretarys-Office@sec.gov and serving
the Applicants with a copy of the
request by email, if an email address is
listed for the relevant Applicant below,
or personally or by mail, if a physical
address is listed for the relevant
Applicant below. Hearing requests
should be received by the Commission
by 5:30 p.m. on August 11, 2025, and
should be accompanied by proof of
service on applicants, in the form of an
affidavit or, for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
emailing the Commission’s Secretary at
Secretarys-Office@sec.gov.
ADDRESSES:
The Commission: Secretarys-Office@
sec.gov. Applicants: JoAnn M. Strasser,

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For
Applicants’ representations, legal
analysis, and conditions, please refer to
Applicants’ third amended and restated
application, dated July 16, 2025, which
may be obtained via the Commission’s
website by searching for the file number
at the top of this document, or for an
Applicant using the Company name
search field, on the SEC’s EDGAR
system. The SEC’s EDGAR system may
be searched at https://www.sec.gov/
edgar/searchedgar/companysearch. You
may also call the SEC’s Office of
Investor Education and Advocacy at
(202) 551–8090.

For the Commission, by the Division of
Investment Management, under delegated
authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–13689 Filed 7–21–25; 8:45 am]
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SECURITIES AND EXCHANGE
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[Release No. 34–103490; File No. SR–
CBOE–2025–050]

Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fees
Schedule With Respect to Its Frequent
Trader Program and To Clarify Criteria
Related to Its Floor Broker Sliding
Scale Supplemental Rebate Program
July 17, 2025.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 16,
2025, Cboe Exchange, Inc. (the
‘‘Exchange’’ or ‘‘Cboe Options’’) 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 Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
1 15
2 17

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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