Submission for OMB Review; Comment Request, 66201-66202 [E7-22981]

Download as PDF Federal Register / Vol. 72, No. 227 / Tuesday, November 27, 2007 / Notices pwalker on PROD1PC71 with NOTICES (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Rule 17a–4(b)(11) (17 CFR 240.17a– 4(b)(11)) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) describes the record preservation requirements for those records required to be kept pursuant to Rule 17a–3(a)(16), including how such records should be kept and for how long, to be used in monitoring compliance with the Commission’s financial responsibility program and antifraud and antimanipulative rules as well as other rules and regulations of the Commission and the self-regulatory organizations. It is estimated that approximately 105 active broker-dealer respondents registered with the Commission incur an average burden of 315 hours per year (105 respondents multiplied by 3 burden hours per respondent equals 315 total burden hours) to comply with this rule. Under Rule 17a–4(a)(11) brokerdealers are required to retain records for a period of not less than three years. Compliance with the rule is mandatory. The required records are available only to the examination staff of the Commission and the self-regulatory organization of which the broker-dealer is a member. 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 should be directed to (i) 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 sending an e-mail to: Alexander_T._Hunt@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 send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: November 19, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22978 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P VerDate Aug<31>2005 17:26 Nov 26, 2007 Jkt 214001 SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Form N–14; SEC File No. 270–297; OMB Control No. 3235–0336 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 requests for extension of the previously approved collection of information discussed below. Form N–14 (17 CFR 239.23) is used by investment companies registered under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (‘‘Investment Company Act’’) and business development companies as defined by Section 2(a)(48) of the Investment Company Act to register securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) to be issued in business combination transactions specified in rule 145(a) (17 CFR 230.145(a)) and exchange offers. The securities are registered under the Securities Act to ensure that investors receive the material information necessary to evaluate securities issued in business combination transactions. The Commission staff reviews registration statements on Form N–14 for the adequacy and accuracy of the disclosure contained therein. Without Form N–14, the Commission would be unable to verify compliance with securities law requirements. The respondents to the collection of information are investment companies or business development companies issuing securities in business combination transactions. The estimated number of responses is 375 and the collection occurs only when a merger or other business combination is planned. The estimated total annual reporting burden of the collection of information is approximately 620 hours per response for a new registration statement, and approximately 350 hours per response for an amended Form N–14, for a total of 196,050 annual burden hours. Providing the information on Form N– 14 is mandatory. Responses will not be kept confidential. Estimates of the burden hours are made solely for the purposes of the Paperwork Reduction Act, and are not derived from a PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 66201 comprehensive or even a representative survey or study of the costs of SEC rules and forms. 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. Please direct general comments regarding the above information to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: Alexander_T._Hunt@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 send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 19, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22980 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549 Extension: Rule 17a–3; SEC File No. 270–026; OMB Control No. 3235–0033 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 (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. The Code of Federal Regulations citation to this collection of information is: 17 CFR 240.17a–3. Rule 17a–3 under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) establishes minimum standards with respect to business records that broker-dealers registered with the Commission must make and keep current. These records are maintained by the broker-dealer (in accordance with a separate rule), so they can be used by the broker-dealer and reviewed by E:\FR\FM\27NON1.SGM 27NON1 pwalker on PROD1PC71 with NOTICES 66202 Federal Register / Vol. 72, No. 227 / Tuesday, November 27, 2007 / Notices Commission examiners, as well as other regulatory authority examiners, during inspections of the broker-dealer. The collection of information included in Rule 17a–3 is necessary to provide Commission, self-regulatory organization, and State examiners to conduct effective and efficient examinations to determine whether broker-dealers are complying with relevant laws, rules, and regulations. If broker-dealers were not required to create these baseline, standardized records, Commission, self-regulatory organization, and State examiners could be unable to determine whether brokerdealers are in compliance with the Commission’s antifraud and antimanipulation rules, financial responsibility program, and other Commission, self-regulatory organization, and State laws, rules, and regulations. As of July 30, 2007 there were 5,850 broker-dealers registered with the Commission. The Commission estimates that these broker-dealer respondents incur a total burden of 2,984,760 hours per year to comply with Rule 17a–3. Approximately 1,524,210 of those hours are attributable to Rule 17a–3(a)(17), and about 1,460,550 hours are attributable to the rest of Rule 17a–3. Rule 17a–3(a)(17) contains requirements to provide customers with account information (approximately 975,809 hours) and requirements to update customer account information (approximately 548,401 hours). In addition, Rule 17a–3 contains ongoing operation and maintenance costs for broker-dealers including the cost of postage to provide customers with account information, and costs for equipment and systems development. The Commission estimates that under Rule 17a–3(a)(17), approximately 36,365,553 customers will need to be provided with information regarding their account on a yearly basis. The Commission estimates that the postage costs associated with providing those customers with copies of their account record information would be approximately $8,176,435 per year (28,390,400 × $0.288).1 Based on comments provided in response to the 2001 Amendments (as adjusted to account for inflation), the staff believes that the ongoing equipment and systems development costs relating to Rule 17a– 3 for the industry would be about $23,362,847 per year. Consequently, the total cost burden associated with Rule 1 Estimates of postage costs are derived from past conversations with industry representatives and have been adjusted to account for inflation. VerDate Aug<31>2005 17:26 Nov 26, 2007 Jkt 214001 17a–3 would be approximately $31,539,282 per year. Rule 17a–3 does not contain record retention requirements. Compliance with the rule is mandatory. The required records are available only to the staffs of the Commission, selfregulatory organizations of which the broker-dealer is a member, and the States during examinations, inspections and investigations. 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 should be directed to (i) 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 sending an e-mail to: Alexander_T._Hunt@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 send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: November 19, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22981 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213 Extension: Rule 203–3, Form ADV–H; SEC File No. 270–481; OMB Control No. 3235–0538 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. The title for the collection of information is ‘‘Rule 203–3 and Form ADV–H under the Investment Advisers Act of 1940.’’ Rule 203–3 (17 CFR PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 275.203–3) under the Investment Advisers Act of 1940 (15 U.S.C. 80b) establishes procedures for an investment adviser to obtain a hardship exemption from the electronic filing requirements of the Investment Advisers Act. Rule 203–3 requires every person requesting a hardship exemption to file Form ADV–H (17 CFR 279.3) with the Commission. The purpose of this collection of information is to permit advisers to obtain a hardship exemption, on a continuing or temporary basis, to not complete an electronic filing. The temporary hardship exemption permits advisers to make late filings due to unforeseen computer or software problems, while the continuing hardship exemption permits advisers to submit all required electronic filings on hard copy for data entry by the operator of the IARD. The respondents to the collection of information are all investment advisers that are registered with the Commission. The Commission has estimated that compliance with the requirement to complete Form ADV–H imposes a total burden of approximately 1 hour for an adviser. Based on our experience with hardship filings, we estimate that we will receive 11 Form ADV–H filings annually. Based on the 60 minute per respondent estimate, the Commission estimates a total annual burden of 11 hours for this collection of information. 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 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. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: PRA_Mailbox@sec.gov. Dated: November 19, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–23002 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\27NON1.SGM 27NON1

Agencies

[Federal Register Volume 72, Number 227 (Tuesday, November 27, 2007)]
[Notices]
[Pages 66201-66202]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-22981]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549

Extension:
    Rule 17a-3; SEC File No. 270-026; OMB Control No. 3235-0033

    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 (``OMB'') a request for extension of the previously approved 
collection of information discussed below. The Code of Federal 
Regulations citation to this collection of information is: 17 CFR 
240.17a-3.
    Rule 17a-3 under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) establishes minimum standards with respect to business records 
that broker-dealers registered with the Commission must make and keep 
current. These records are maintained by the broker-dealer (in 
accordance with a separate rule), so they can be used by the broker-
dealer and reviewed by

[[Page 66202]]

Commission examiners, as well as other regulatory authority examiners, 
during inspections of the broker-dealer.
    The collection of information included in Rule 17a-3 is necessary 
to provide Commission, self-regulatory organization, and State 
examiners to conduct effective and efficient examinations to determine 
whether broker-dealers are complying with relevant laws, rules, and 
regulations. If broker-dealers were not required to create these 
baseline, standardized records, Commission, self-regulatory 
organization, and State examiners could be unable to determine whether 
broker-dealers are in compliance with the Commission's antifraud and 
anti-manipulation rules, financial responsibility program, and other 
Commission, self-regulatory organization, and State laws, rules, and 
regulations.
    As of July 30, 2007 there were 5,850 broker-dealers registered with 
the Commission. The Commission estimates that these broker-dealer 
respondents incur a total burden of 2,984,760 hours per year to comply 
with Rule 17a-3. Approximately 1,524,210 of those hours are 
attributable to Rule 17a-3(a)(17), and about 1,460,550 hours are 
attributable to the rest of Rule 17a-3. Rule 17a-3(a)(17) contains 
requirements to provide customers with account information 
(approximately 975,809 hours) and requirements to update customer 
account information (approximately 548,401 hours).
    In addition, Rule 17a-3 contains ongoing operation and maintenance 
costs for broker-dealers including the cost of postage to provide 
customers with account information, and costs for equipment and systems 
development. The Commission estimates that under Rule 17a-3(a)(17), 
approximately 36,365,553 customers will need to be provided with 
information regarding their account on a yearly basis. The Commission 
estimates that the postage costs associated with providing those 
customers with copies of their account record information would be 
approximately $8,176,435 per year (28,390,400 x $0.288).\1\ Based on 
comments provided in response to the 2001 Amendments (as adjusted to 
account for inflation), the staff believes that the ongoing equipment 
and systems development costs relating to Rule 17a-3 for the industry 
would be about $23,362,847 per year. Consequently, the total cost 
burden associated with Rule 17a-3 would be approximately $31,539,282 
per year.
---------------------------------------------------------------------------

    \1\ Estimates of postage costs are derived from past 
conversations with industry representatives and have been adjusted 
to account for inflation.
---------------------------------------------------------------------------

    Rule 17a-3 does not contain record retention requirements. 
Compliance with the rule is mandatory. The required records are 
available only to the staffs of the Commission, self-regulatory 
organizations of which the broker-dealer is a member, and the States 
during examinations, inspections and investigations. 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 should be directed to (i) 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 sending an e-mail to: Alexander--
T.--Hunt@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 send an e-
mail to: PRA--Mailbox@sec.gov. Comments must be submitted within 30 
days of this notice.

    Dated: November 19, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-22981 Filed 11-26-07; 8:45 am]
BILLING CODE 8011-01-P