Submission for OMB Review; Comment Request, 65843 [E6-18950]

Download as PDF Federal Register / Vol. 71, No. 217 / Thursday, November 9, 2006 / Notices Maximum Daily Benefit Rate Section 2(a)(3) contains a formula for determining the maximum daily benefit rate for registration periods beginning after June 30, 1989, and after each June 30 thereafter. Legislation enacted on October 9, 1996, revised the formula for indexing maximum daily benefit rates. Under the prescribed formula, the maximum daily benefit rate increases by approximately two-thirds of the cumulative growth in average national wages since 1984. The maximum daily benefit rate for registration periods beginning after June 30, 2007, shall be equal to 5 percent of the monthly compensation base for the base year immediately preceding the beginning of the benefit year. Section 2(a)(3) further provides that if the amount so computed is not a multiple of $1, it shall be rounded down to the nearest multiple of $1. The calendar year 2006 monthly compensation base is $1,195. Multiplying $1,195 by 0.05 yields $59.75, which must then be rounded down to $59. Accordingly, the maximum daily benefit rate for days of unemployment and days of sickness beginning in registration periods after June 30, 2007, is determined to be $59. Dated: November 2, 2006. By authority of the Board. Beatrice Ezerski, Secretary to the Board. [FR Doc. E6–18960 Filed 11–8–06; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request sroberts on PROD1PC70 with NOTICES Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Rule 17a–5; SEC File No. 270–155; OMB Control No. 3235–0123. 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’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Rule 17a–5 (17 CFR 240.17a–5) is the basic financial reporting rule for brokers and dealers.1 The Rule requires the 1 Rule 17a–5(c) requires a broker or dealer to furnish certain of its financial information to VerDate Aug<31>2005 16:26 Nov 08, 2006 Jkt 211001 filing of the Financial and Operational Combined Uniform Single Report (‘‘FOCUS Report’’) on Form X–17A–5 (17 CFR 240.15c3–1e), which was the result of years of study and comments by representatives of the securities industry through advisory committees and through the normal rule proposal methods. The FOCUS Report was designed to eliminate the overlapping regulatory reports required by various self-regulatory organizations and the Commission and to reduce reporting burdens as much as possible. The Rule also requires the filing of an annual audited report of financial statements. The FOCUS Report consists of: (1) Part I, which is a monthly report that must be filed by brokers or dealers that clear transactions or carry customer securities; (2) one of three alternative quarterly reports: Part II, which must be filed by brokers or dealers that clear transactions or carry customer securities; Part IIA, which must be filed by brokers or dealers that do not clear transactions or carry customer securities; and Part IIB, which must be filed by specialized broker-dealers registered with the Commission as OTC derivatives dealers; 2 (3) supplemental schedules, which must be filed annually; and (4) a facing page, which must be filed with the annual audited report of financial statements. Under the Rule, a broker or dealer that computes certain of its capital charges in accordance with Appendix E to Exchange Act Rule 15c3–1 (17 CFR 240.15c3–1e) must file additional monthly, quarterly, and annual reports with the Commission. The variation in the size and complexity of brokers and dealers subject to Rule 17a–5 and the differences in the FOCUS Report forms that must be filed under the Rule make it difficult to calculate the cost of compliance. However, we estimate, on average, that each report will require approximately 12 hours. At year-end 2005, the Commission estimates that there were approximately 6,200 brokers or dealers, and that of those firms there were approximately 600 brokers or dealers that clear transactions or carry customer securities. In addition, approximately 400 firms filed annual reports. The Commission therefore estimates that approximately 600 firms filed monthly reports, approximately 5,600 firms filed quarterly reports, and approximately 400 firms filed annual customers and is subject to a separate PRA filing (OMB Control Number 3235–0199). 2 Part IIB of Form X–17A–5 must be filed by OTC derivatives dealers under Exchange Act Rule 17a– 12 and is subject to a separate PRA filing (OMB Control Number 3235–0498). PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 65843 reports. In addition, approximately 6,200 firms filed annual audited reports. As a result, there were approximately 36,200 total annual responses ((600 × 12) + (5,600 × 4) + 400 + 6,200 = 36,200). This results in an estimated annual burden of 434,400 hours (36,200 annual responses × 12 hours = 434,400). In addition, we estimate that approximately 11 brokers or dealers will elect to use Appendix E to Rule 15c3– 1 to compute certain of their capital charges (as of June 2006, five brokers or dealers have elected to use Appendix E). We estimate that the average amount of time necessary to prepare and file the additional monthly reports that must be filed by these firms is about 4 hours per month, or approximately 48 hours per year; the average amount of time necessary to prepare and file the additional quarterly reports is about 8 hours per quarter, or approximately 32 hours per year; and the average amount of time necessary to prepare and file the additional supplemental reports with the annual audit required is approximately 40 hours per year. Consequently, we estimate that the total additional annual burden for these 11 brokers or dealers is approximately 1,320 hours ((48 + 32 + 40) × 11 = 1,320). The Commission therefore estimates that the total annual burden under Rule 17a–5 is approximately 435,700 hours (434,400 + 1,320 = 435,720, rounded to 435,700). 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 control number. Comments regarding the estimated burden hours should be directed to: (i) The Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by e-mail to David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312, or by e-mail to PRA_Mailbox@sec.gov. Comments must be submitted to the Office of Management and Budget within 30 days of this notice. November 3, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–18950 Filed 11–8–06; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\09NON1.SGM 09NON1

Agencies

[Federal Register Volume 71, Number 217 (Thursday, November 9, 2006)]
[Notices]
[Page 65843]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-18950]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549.
    Rule 17a-5; SEC File No. 270-155; OMB Control No. 3235-0123.

    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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    Rule 17a-5 (17 CFR 240.17a-5) is the basic financial reporting rule 
for brokers and dealers.\1\ The Rule requires the filing of the 
Financial and Operational Combined Uniform Single Report (``FOCUS 
Report'') on Form X-17A-5 (17 CFR 240.15c3-1e), which was the result of 
years of study and comments by representatives of the securities 
industry through advisory committees and through the normal rule 
proposal methods. The FOCUS Report was designed to eliminate the 
overlapping regulatory reports required by various self-regulatory 
organizations and the Commission and to reduce reporting burdens as 
much as possible. The Rule also requires the filing of an annual 
audited report of financial statements.
---------------------------------------------------------------------------

    \1\ Rule 17a-5(c) requires a broker or dealer to furnish certain 
of its financial information to customers and is subject to a 
separate PRA filing (OMB Control Number 3235-0199).
---------------------------------------------------------------------------

    The FOCUS Report consists of: (1) Part I, which is a monthly report 
that must be filed by brokers or dealers that clear transactions or 
carry customer securities; (2) one of three alternative quarterly 
reports: Part II, which must be filed by brokers or dealers that clear 
transactions or carry customer securities; Part IIA, which must be 
filed by brokers or dealers that do not clear transactions or carry 
customer securities; and Part IIB, which must be filed by specialized 
broker-dealers registered with the Commission as OTC derivatives 
dealers; \2\ (3) supplemental schedules, which must be filed annually; 
and (4) a facing page, which must be filed with the annual audited 
report of financial statements. Under the Rule, a broker or dealer that 
computes certain of its capital charges in accordance with Appendix E 
to Exchange Act Rule 15c3-1 (17 CFR 240.15c3-1e) must file additional 
monthly, quarterly, and annual reports with the Commission.
---------------------------------------------------------------------------

    \2\ Part IIB of Form X-17A-5 must be filed by OTC derivatives 
dealers under Exchange Act Rule 17a-12 and is subject to a separate 
PRA filing (OMB Control Number 3235-0498).
---------------------------------------------------------------------------

    The variation in the size and complexity of brokers and dealers 
subject to Rule 17a-5 and the differences in the FOCUS Report forms 
that must be filed under the Rule make it difficult to calculate the 
cost of compliance. However, we estimate, on average, that each report 
will require approximately 12 hours. At year-end 2005, the Commission 
estimates that there were approximately 6,200 brokers or dealers, and 
that of those firms there were approximately 600 brokers or dealers 
that clear transactions or carry customer securities. In addition, 
approximately 400 firms filed annual reports. The Commission therefore 
estimates that approximately 600 firms filed monthly reports, 
approximately 5,600 firms filed quarterly reports, and approximately 
400 firms filed annual reports. In addition, approximately 6,200 firms 
filed annual audited reports. As a result, there were approximately 
36,200 total annual responses ((600 x 12) + (5,600 x 4) + 400 + 6,200 = 
36,200). This results in an estimated annual burden of 434,400 hours 
(36,200 annual responses x 12 hours = 434,400).
    In addition, we estimate that approximately 11 brokers or dealers 
will elect to use Appendix E to Rule 15c3-1 to compute certain of their 
capital charges (as of June 2006, five brokers or dealers have elected 
to use Appendix E). We estimate that the average amount of time 
necessary to prepare and file the additional monthly reports that must 
be filed by these firms is about 4 hours per month, or approximately 48 
hours per year; the average amount of time necessary to prepare and 
file the additional quarterly reports is about 8 hours per quarter, or 
approximately 32 hours per year; and the average amount of time 
necessary to prepare and file the additional supplemental reports with 
the annual audit required is approximately 40 hours per year. 
Consequently, we estimate that the total additional annual burden for 
these 11 brokers or dealers is approximately 1,320 hours ((48 + 32 + 
40) x 11 = 1,320).
    The Commission therefore estimates that the total annual burden 
under Rule 17a-5 is approximately 435,700 hours (434,400 + 1,320 = 
435,720, rounded to 435,700).
    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 control number.
    Comments regarding the estimated burden hours should be directed 
to: (i) The Desk Officer for the Securities and Exchange Commission, 
Office of Information and Regulatory Affairs, Office of Management and 
Budget, Room 10102, New Executive Office Building, Washington, DC 20503 
or by e-mail to David--Rostker@omb.eop.gov; and (ii) R. Corey Booth, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312, or 
by e-mail to PRA--Mailbox@sec.gov. Comments must be submitted to the 
Office of Management and Budget within 30 days of this notice.

    November 3, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-18950 Filed 11-8-06; 8:45 am]
BILLING CODE 8011-01-P