Proposed Collection; Comment Request, 50478-50479 [E6-14124]

Download as PDF 50478 Federal Register / Vol. 71, No. 165 / Friday, August 25, 2006 / Notices Issued in Washington, DC, on this 23rd day of August 2006. Vincent K. Snowbarger, Interim Director, Pension Benefit Guaranty Corporation. [FR Doc. E6–14210 Filed 8–24–06; 8:45 am] BILLING CODE 7709–01–P OFFICE OF PERSONNEL MANAGEMENT [Optional Form 306, OMB No. 3206–0182] Submission for OMB Review; Comment Request for Clearance of a Reinstatement, With Change, of a Previously Approved Collection for Which Approval Has Expired; Declaration for Federal Employment Office of Personnel Management. ACTION: Notice. Potter/Brenda Aguilar, OPM Desk Officer, Office of Information and Regulatory Affairs, Office of Management Budget, New Executive Office Building, Room 10035, Washington, DC 20503. For Information Regarding Administrative Coordination—Contact: Deborah A. Micsky, Operational Policy Group, Federal Investigative Services Division, U.S. Office of Personnel Management, 1900 E Street, NW., Room 5416, Washington, DC 20415. Office of Personnel Management. Dan G. Blair, Deputy Director. [FR Doc. E6–14098 Filed 8–24–06; 8:45 am] BILLING CODE 6325–53–P cprice-sewell on PROD1PC66 with NOTICES AGENCY: SECURITIES AND EXCHANGE COMMISSION SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–13, May 22, 1995), this notice announces that the Office of Personnel Management (OPM) has submitted a request to the Office of Management and Budget (OMB) for reinstatement of an expired information collection with change. The Optional Form (OF) 306, Declaration for Federal Employment, is completed by applicants who are under consideration for Federal or Federal contract employment. The OF 306 requests that the applicant provide personal identifying data, including, for example, general background information, information on Selective Service registration, military service and information concerning retirement pay received or requested. The change is to make needed administrative updates and delete life insurance questions. It is estimated that 474,000 individuals will respond annually. Each form takes approximately 15 minutes to complete. The annual estimated burden is 118,500 hours. No comments were received on this proposal. For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606– 8358, FAX (202) 418–3251 or via E-mail to mbtoomey@opm.gov. Please include a mailing address with your request. DATES: Comments on this proposal should be received within 30 calendar days for the date of this publication. ADDRESSES: Send or deliver comments to: Kathy Dillaman, Associate Director, Federal Investigative Services Division, U.S. Office of Personnel Management, 1900 E Street, NW., Room 5416, Washington, DC 20415, and Rachel VerDate Aug<31>2005 16:47 Aug 24, 2006 Jkt 208001 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 17i–6, SEC File No. 270–532, OMB Control No. 3235–0588. 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 collections of information discussed below. The Code of Federal Regulation citation to this collection of information is the following rule: 17 CFR 240.17i–6. 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– 6, to create a framework for the Commission to supervise SIBHCs.4 This framework includes qualification criteria for SIBHCs, as well as 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). 2 Pub. PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 recordkeeping and reporting requirements. Among other things, this regulatory framework for SIBHCs is intended to provide a basis for non-U.S. financial regulators to treat the Commission as the principal U.S. consolidated, home-country supervisor for SIBHCs and their affiliated brokerdealers.5 Pursuant to Section 17(i)(3)(A) of the Exchange Act, an SIBHC must make and keep records, furnish copies thereof, and make such reports as the Commission may require by rule.6 Rule 17i–6 requires that an SIBHC file with the Commission certain monthly and quarterly reports and an annual audit report. The reports and notices required to be filed pursuant to Rule 17i–6 must be preserved for a period of not less than three years.7 The collections of information required by Rule 17i–6 are necessary to allow the Commission adequately to supervise the activities of these SIBHCs and to effectively determine whether supervision of an IBHC as an SIBHC is necessary or appropriate in furtherance of the purposes of section 17 of the Act. Rule 17i–6s also enhances the Commission’s supervision of an SIBHCs’ subsidiary broker-dealers through collection of additional information and inspections of affiliates of those broker-dealers. Without these reports, the Commission would be unable to adequately supervise an SIBHC, nor would it be able to determine whether continued supervision of an IBHC as an SIBHC were necessary and appropriate in furtherance of the purposes of section 17 of the Act. We estimate that three IBHCs will file Notices of Intention with the Commission to be supervised by the Commission as SIBHCs. An SIBHC will require about eight hours each month to prepare and file the monthly reports required by this rule (or approximately 96 hours per year).8 On average, it will take an SIBHC about 16 hours each quarter (or 64 hours each year) 9 to prepare and file the quarterly reports required by this rule. An SIBHC will require about 200 hours to prepare and file the annual audit reports required by this rule. Consequently, the total annual 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 15 U.S.C. 78q(i)(3)(A). 7 17 CFR 240.17i–5(b)(3). 8 (8 hours × 12 months in a year) = 96 hours/year. 9 (16 hours × 4 quarters in a year) = 64 hours/year. E:\FR\FM\25AUN1.SGM 25AUN1 Federal Register / Vol. 71, No. 165 / Friday, August 25, 2006 / Notices burden of Rule 17i–6 on all SIBHCs is approximately 1,080 hours.10 SECURITIES AND EXCHANGE COMMISSION We believe that an IBHC likely will upgrade its information technology (‘‘IT’’) systems in order to more efficiently comply with certain of the SIBHC framework rules (including Rules 17i–4, 17i–5, 17i–6 and 17i–7), and that this would be a one-time cost. Depending on the state of development of the IBHC’s IT systems, it would cost an IBHC between $1 million and $10 million to upgrade its IT systems to comply with the SIBHC framework of rules. Thus, on average, it would cost each of the three IBHCs about $5.5 million to upgrade their IT systems, or approximately $16.5 million in total. It is impossible to determine what percentage of the IT systems costs would be attributable to each Rule, so we allocated the total estimated upgrade costs equally (at 25% for each of the above-mentioned Rules), with $4,125,000 attributable to Rule 17i–6. 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 within 60 days of this notice. Proposed Collection; Comment Request Dated: August 14, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–14124 Filed 8–24–06; 8:45 am] BILLING CODE 8010–01–P Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17i–8, SEC File No. 270–533, OMB Control No. 3235–0591. 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–8. 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– 8, 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-U.S. financial regulators to treat the Commission as the principal U.S. consolidated, home-country supervisor for SIBHCs and their affiliated brokerdealers.5 Pursuant to Section 17(i)(3)(A) of the Exchange Act, an SIBHC must make and keep records, furnish copies thereof, and make such reports as the Commission may require by rule.6 Rule 17i–8 requires that an SIBHC to notify the Commission upon the occurrence of certain events that would indicate a decline in the financial and operational well-being of the firm. The notices cprice-sewell on PROD1PC66 with NOTICES 1 44 U.S.C. 3501 et seq. L. No. 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 15 U.S.C. 78q(i)(3)(A). 2 Pub. 10 (96 hours per year to prepare and file monthly reports + 64 hours each year to prepare and file quarterly reports + 200 hours each year to prepare and file annual audit reports) × 3 SIBHCs = 1,080 hours. VerDate Aug<31>2005 16:47 Aug 24, 2006 Jkt 208001 PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 50479 required to be filed pursuant to Rule 17i–8 must be preserved for a period of not less than three years.7 The collections of information included in Rule 17i–8 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 section 17 of the Act and allow the Commission to supervise the activities of these SIBHCs. Rule 17i–8 also enhances the Commission’s supervision of the SIBHCs’ subsidiary broker-dealers through collection of additional information and inspections of affiliates of those broker-dealers. Without these notices, the Commission would be unable to adequately supervise an SIBHC, nor would it be able to determine whether continued supervision of an IBHC as an SIBHC were necessary and appropriate in furtherance of the purposes of section 17 of the Act. We estimate that three IBHCs will file Notices of Intention with the Commission to be supervised by the Commission as SIBHCs. An SIBHC will require about one hour to create a notice required to be submitted to the Commission pursuant to Rule 17i–8. However, as these notices only need be filed in certain situations indicative of financial or operational difficulty, only one SIBHC may be required to file notice pursuant to the Rule every other year. Thus, we estimate that the annual burden of Rule 17i–8 for all SIBHCs would be about 30 minutes. 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 within 60 days of this notice. 7 17 E:\FR\FM\25AUN1.SGM CFR 240.17i-5(b)(4). 25AUN1

Agencies

[Federal Register Volume 71, Number 165 (Friday, August 25, 2006)]
[Notices]
[Pages 50478-50479]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14124]


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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 Information Services, Washington, DC 
20549.

Extension:
    Rule 17i-6, SEC File No. 270-532, OMB Control No. 3235-0588.

    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 collections of information 
discussed below. The Code of Federal Regulation citation to this 
collection of information is the following rule: 17 CFR 240.17i-6.
---------------------------------------------------------------------------

    \1\ 44 U.S.C. 3501 et seq.
---------------------------------------------------------------------------

    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-6, 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-U.S. financial 
regulators to treat the Commission as the principal U.S. consolidated, 
home-country supervisor for SIBHCs and their affiliated broker-
dealers.\5\
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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).
---------------------------------------------------------------------------

    Pursuant to Section 17(i)(3)(A) of the Exchange Act, an SIBHC must 
make and keep records, furnish copies thereof, and make such reports as 
the Commission may require by rule.\6\ Rule 17i-6 requires that an 
SIBHC file with the Commission certain monthly and quarterly reports 
and an annual audit report. The reports and notices required to be 
filed pursuant to Rule 17i-6 must be preserved for a period of not less 
than three years.\7\
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    \6\ 15 U.S.C. 78q(i)(3)(A).
    \7\ 17 CFR 240.17i-5(b)(3).
---------------------------------------------------------------------------

    The collections of information required by Rule 17i-6 are necessary 
to allow the Commission adequately to supervise the activities of these 
SIBHCs and to effectively determine whether supervision of an IBHC as 
an SIBHC is necessary or appropriate in furtherance of the purposes of 
section 17 of the Act. Rule 17i-6s also enhances the Commission's 
supervision of an SIBHCs' subsidiary broker-dealers through collection 
of additional information and inspections of affiliates of those 
broker-dealers. Without these reports, the Commission would be unable 
to adequately supervise an SIBHC, nor would it be able to determine 
whether continued supervision of an IBHC as an SIBHC were necessary and 
appropriate in furtherance of the purposes of section 17 of the Act.
    We estimate that three IBHCs will file Notices of Intention with 
the Commission to be supervised by the Commission as SIBHCs. An SIBHC 
will require about eight hours each month to prepare and file the 
monthly reports required by this rule (or approximately 96 hours per 
year).\8\ On average, it will take an SIBHC about 16 hours each quarter 
(or 64 hours each year) \9\ to prepare and file the quarterly reports 
required by this rule. An SIBHC will require about 200 hours to prepare 
and file the annual audit reports required by this rule. Consequently, 
the total annual

[[Page 50479]]

burden of Rule 17i-6 on all SIBHCs is approximately 1,080 hours.\10\
---------------------------------------------------------------------------

    \8\ (8 hours x 12 months in a year) = 96 hours/year.
    \9\ (16 hours x 4 quarters in a year) = 64 hours/year.
    \10\ (96 hours per year to prepare and file monthly reports + 64 
hours each year to prepare and file quarterly reports + 200 hours 
each year to prepare and file annual audit reports) x 3 SIBHCs = 
1,080 hours.

    We believe that an IBHC likely will upgrade its information 
technology (``IT'') systems in order to more efficiently comply with 
certain of the SIBHC framework rules (including Rules 17i-4, 17i-5, 
17i-6 and 17i-7), and that this would be a one-time cost. Depending on 
the state of development of the IBHC's IT systems, it would cost an 
IBHC between $1 million and $10 million to upgrade its IT systems to 
comply with the SIBHC framework of rules. Thus, on average, it would 
cost each of the three IBHCs about $5.5 million to upgrade their IT 
systems, or approximately $16.5 million in total. It is impossible to 
determine what percentage of the IT systems costs would be attributable 
to each Rule, so we allocated the total estimated upgrade costs equally 
(at 25% for each of the above-mentioned Rules), with $4,125,000 
attributable to Rule 17i-6.
    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 within 
60 days of this notice.

    Dated: August 14, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-14124 Filed 8-24-06; 8:45 am]
BILLING CODE 8010-01-P