Proposed Collection; Comment Request, 50108-50109 [E6-14024]

Download as PDF 50108 Federal Register / Vol. 71, No. 164 / Thursday, August 24, 2006 / Notices 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. Comments should be directed to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: August 15, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–14021 Filed 8–23–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. rmajette on PROD1PC67 with NOTICES1 Extension: Rule 15c3–1; SEC File No. 270– 197; OMB Control No. 3235–0200. 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. Rule 15c3–1 (17 CFR 240.15c3–1) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) requires brokers and dealers to have at all times sufficient liquid assets to meet their current liabilities, particularly the claims of customers. The rule facilitates monitoring the financial condition of brokers and dealers by the Commission and the various self-regulatory organizations. It is estimated that approximately 6,100 active brokerdealer respondents registered with the Commission incur an aggregate burden of 88,181 hours per year to comply with this rule. Finally, the estimated cost for the annual hour burden for Rule 15c3– 1 is approximately $22.7 million. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the VerDate Aug<31>2005 15:15 Aug 23, 2006 Jkt 208001 information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (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 collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be directed to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 60 days of this notice. Dated: August 16, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–14022 Filed 8–23–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17Ad–15; SEC File No. 270– 360; OMB Control No. 3235–0409. 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. Rule 17Ad–15—Signature Guarantees Rule 17Ad–15 (17 CFR 240.17Ad–15) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (the ‘‘Act’’) requires approximately 760 transfer agents to establish written standards for the acceptance or rejection of guarantees of securities transfers from eligible guarantor institutions. Transfer agents are required to establish procedures to ensure that those standards are used by the transfer agent to determine whether PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 to accept or reject guarantees from eligible guarantor institutions. Transfer agents must maintain, for a period of three years following the date of a rejection of transfer, a record of all transfers rejected, along with the reason for the rejection, identification of the guarantor, and whether the guarantor failed to meet the transfer agent’s guarantee standard. These recordkeeping requirements assist the Commission and other regulatory agencies with monitoring transfer agents and ensuring compliance with the rule. There are approximately 760 registered transfer agents. The staff estimates that every transfer agent will spend about 40 hours annually to comply with Rule 17Ad–15. The total annual burden for all transfer agents is 30,400 hours. The average cost per hour is approximately $50. Therefore, the total cost of compliance for all transfer agents is $1,520,000. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimates of the burden of the proposed collection of information; (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 collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be direct to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or by sending an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 60 days of this notice. Dated: August 16, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–14023 Filed 8–23–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and E:\FR\FM\24AUN1.SGM 24AUN1 Federal Register / Vol. 71, No. 164 / Thursday, August 24, 2006 / Notices Information Services, Washington, DC 20549. Extension: Rule 17i–2, SEC File No. 270–528, OMB Control No. 3235–0592. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 1 the Securities and Exchange Commission (‘‘Commission’’) intends to submit to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. The Code of Federal Regulation citation to this collection of information is the following rule: 17 CFR 240.17i–2. Section 231 of the Gramm-LeachBliley Act of 1999 2 (the ‘‘GLBA’’) amended Section 17 of the Securities Exchange Act of 1934 to create a regulatory framework under which a holding company of a broker-dealer (‘‘investment bank holding company’’ or ‘‘IBHC’’) may voluntarily be supervised by the Commission as a supervised investment bank holding company (or ‘‘SIBHC’’).3 In 2004, the Commission promulgated rules, including Rule 17i– 2, to create a framework for the Commission to supervise SIBHCs.4 This framework includes qualification criteria for SIBHCs, as well as recordkeeping and reporting requirements. Among other things, this regulatory framework for SIBHCs is intended to provide a basis for non-US financial regulators to treat the Commission as the principal U.S. consolidated, home-country supervisor 5 for SIBHCs and their affiliated brokerdealers. Rule 17i–2 provides the method by which an IBHC can elect to become an SIBHC. In addition, Rule 17i–2 indicates that the IBHC will automatically become an SIBHC 45 days after the Commission receives its completed Notice of Intention unless the Commission issues an order indicating either that it will begin its supervision sooner or that it does not believe it to be necessary or appropriate in furtherance of Section 17 of the Act for the IBHC to be so supervised. Finally, Rule 17i–2 sets forth the criteria the Commission would use to make this determination. The records required to be created pursuant to Rule 17i–2 must be preserved for a period of not less than three years.6 1 44 U.S.C. 3501 et seq. L. 106–102, 113 Stat. 1338 (1999). 3 See 15 U.S.C. 78q(i). 4 See Exchange Act Release No. 49831 (Jun. 8, 2004), 69 FR 34472 (Jun. 21, 2004). 5 See H.R. Conf. Rep. No. 106–434, 165 (1999). See also Exchange Act Release No. 49831, at 6 (Jun. 8, 2004), 69 FR 34472, at 34473 (Jun. 21, 2004). 6 17 CFR 240.17i–5(b)(2). rmajette on PROD1PC67 with NOTICES1 2 Pub. VerDate Aug<31>2005 16:30 Aug 23, 2006 Jkt 208001 The collections of information required by Rule 17i–2 are necessary to allow the Commission to effectively determine whether supervision of an IBHC as an SIBHC is necessary or appropriate in furtherance of the purposes of § 17 of the Act. In addition, these collections are needed so that the Commission can adequately supervise the activities of these SIBHCs. Finally, these rules enhance the Commission’s supervision of the SIBHCs’ subsidiary broker-dealers through collection of additional information and inspections of affiliates of those broker-dealers. We estimate that three IBHCs will file Notices of Intention with the Commission to be supervised by the Commission as SIBHCs. Each IBHC that files a Notice of Intention to become supervised by the Commission as an SIBHC will require approximately 900 hours to draft the Notice of Intention, compile the various documents to be included with the Notice of Intention, and work with the Commission staff. Further, each IBHC likely will have an attorney review its Notice of Intention, and it will take the attorney approximately 100 hours to complete such a review. Consequently, we estimate the total one-time burden for all three firms to file their Notices of Intention would be approximately 3,000 hours.7 Rule 17i–2 also requires that an IBHC/SIBHC update its Notice of Intention on an ongoing basis.8 Each IBHC/SIBHC will require approximately two hours each month to update its Notice of Intention, as necessary. Thus, we estimate that it will take the three IBHC/SIBHCs, in the aggregate, about 72 hours each year to update their Notices of Intention.9 Thus, the total burden relating to Rule 17i–2 for all SIBHCs would be approximately 3,072 hours in the first year,10 and approximately 72 hours each year thereafter. Written comments are invited on: (a) Whether the 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 of the collection of information; (c) ways to 7 (900 hours + 100 hours) × 3 IBHCs/SIBHCs = 3,000 hours. 8 An IBHC would be required to review and update its Notice of Intention to the extent it becomes inaccurate prior to a Commission determination, and an SIBHC would be required to update its Notice of Intention if it changes a mathematical model used to calculate its risk allowances pursuant to Rule 17i–7 after a Commission determination was made. 9 (2 hours × 12 months each year) × 3 SIBHCs = 72. 10 (3,000 hours to file the Notices of Intention + 72 hours to update them). PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 50109 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. Comments should be directed to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 60 days of this notice. Dated: August 14, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–14024 Filed 8–23–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of August 28, 2006: A Closed Meeting will be held on Tuesday, August 29, 2006 at 10 a.m. Commissioners, Counsels to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), (10) and 17 CFR 200.402(a) (3), (5), (7), (9)(ii), and (10) permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matters of the Closed Meeting scheduled for Tuesday, August 29, 2006 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; An adjudicatory matter; Requests for information in an investigative file; Litigation matter; and Other matters related to enforcement proceedings. E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 71, Number 164 (Thursday, August 24, 2006)]
[Notices]
[Pages 50108-50109]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14024]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and

[[Page 50109]]

Information Services, Washington, DC 20549.

Extension: Rule 17i-2, SEC File No. 270-528, OMB Control No. 3235-
0592.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 \1\ the Securities and Exchange Commission (``Commission'') 
intends to submit to the Office of Management and Budget a request for 
extension of the previously approved collection of information 
discussed below. The Code of Federal Regulation citation to this 
collection of information is the following rule: 17 CFR 240.17i-2.
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    \1\ 44 U.S.C. 3501 et seq.
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    Section 231 of the Gramm-Leach-Bliley Act of 1999 \2\ (the 
``GLBA'') amended Section 17 of the Securities Exchange Act of 1934 to 
create a regulatory framework under which a holding company of a 
broker-dealer (``investment bank holding company'' or ``IBHC'') may 
voluntarily be supervised by the Commission as a supervised investment 
bank holding company (or ``SIBHC'').\3\ In 2004, the Commission 
promulgated rules, including Rule 17i-2, to create a framework for the 
Commission to supervise SIBHCs.\4\ This framework includes 
qualification criteria for SIBHCs, as well as recordkeeping and 
reporting requirements. Among other things, this regulatory framework 
for SIBHCs is intended to provide a basis for non-US financial 
regulators to treat the Commission as the principal U.S. consolidated, 
home-country supervisor \5\ for SIBHCs and their affiliated broker-
dealers.
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    \2\ Pub. L. 106-102, 113 Stat. 1338 (1999).
    \3\ See 15 U.S.C. 78q(i).
    \4\ See Exchange Act Release No. 49831 (Jun. 8, 2004), 69 FR 
34472 (Jun. 21, 2004).
    \5\ See H.R. Conf. Rep. No. 106-434, 165 (1999). See also 
Exchange Act Release No. 49831, at 6 (Jun. 8, 2004), 69 FR 34472, at 
34473 (Jun. 21, 2004).
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    Rule 17i-2 provides the method by which an IBHC can elect to become 
an SIBHC. In addition, Rule 17i-2 indicates that the IBHC will 
automatically become an SIBHC 45 days after the Commission receives its 
completed Notice of Intention unless the Commission issues an order 
indicating either that it will begin its supervision sooner or that it 
does not believe it to be necessary or appropriate in furtherance of 
Section 17 of the Act for the IBHC to be so supervised. Finally, Rule 
17i-2 sets forth the criteria the Commission would use to make this 
determination. The records required to be created pursuant to Rule 17i-
2 must be preserved for a period of not less than three years.\6\
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    \6\ 17 CFR 240.17i-5(b)(2).
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    The collections of information required by Rule 17i-2 are necessary 
to allow the Commission to effectively determine whether supervision of 
an IBHC as an SIBHC is necessary or appropriate in furtherance of the 
purposes of Sec.  17 of the Act. In addition, these collections are 
needed so that the Commission can adequately supervise the activities 
of these SIBHCs. Finally, these rules enhance the Commission's 
supervision of the SIBHCs' subsidiary broker-dealers through collection 
of additional information and inspections of affiliates of those 
broker-dealers.
    We estimate that three IBHCs will file Notices of Intention with 
the Commission to be supervised by the Commission as SIBHCs. Each IBHC 
that files a Notice of Intention to become supervised by the Commission 
as an SIBHC will require approximately 900 hours to draft the Notice of 
Intention, compile the various documents to be included with the Notice 
of Intention, and work with the Commission staff. Further, each IBHC 
likely will have an attorney review its Notice of Intention, and it 
will take the attorney approximately 100 hours to complete such a 
review. Consequently, we estimate the total one-time burden for all 
three firms to file their Notices of Intention would be approximately 
3,000 hours.\7\ Rule 17i-2 also requires that an IBHC/SIBHC update its 
Notice of Intention on an ongoing basis.\8 \Each IBHC/SIBHC will 
require approximately two hours each month to update its Notice of 
Intention, as necessary. Thus, we estimate that it will take the three 
IBHC/SIBHCs, in the aggregate, about 72 hours each year to update their 
Notices of Intention.\9\ Thus, the total burden relating to Rule 17i-2 
for all SIBHCs would be approximately 3,072 hours in the first 
year,\10\ and approximately 72 hours each year thereafter.
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    \7\ (900 hours + 100 hours) x 3 IBHCs/SIBHCs = 3,000 hours.
    \8\ An IBHC would be required to review and update its Notice of 
Intention to the extent it becomes inaccurate prior to a Commission 
determination, and an SIBHC would be required to update its Notice 
of Intention if it changes a mathematical model used to calculate 
its risk allowances pursuant to Rule 17i-7 after a Commission 
determination was made.
    \9\ (2 hours x 12 months each year) x 3 SIBHCs = 72.
    \10\ (3,000 hours to file the Notices of Intention + 72 hours to 
update them).
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    Written comments are invited on: (a) Whether the 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 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 other forms of 
information technology.
    Comments should be directed to: R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA--Mailbox@sec.gov. Comments must be submitted to OMB 
within 60 days of this notice.

    Dated: August 14, 2006.
J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E6-14024 Filed 8-23-06; 8:45 am]
BILLING CODE 8010-01-P