Submission for OMB Review; Comment Request, 53455 [E8-21528]

Download as PDF Federal Register / Vol. 73, No. 180 / Tuesday, September 16, 2008 / Notices Comments should be directed to: Lewis W. Walker, Acting Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: September 8, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–21527 Filed 9–15–08; 8:45 am] BILLING CODE 8010–01–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 20549–0213 ebenthall on PROD1PC60 with NOTICES Extension: Rule 10A–1, SEC File No. 270–425, OMB Control No. 3235–0468 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. Rule 10A–1 (17 CFR 240.10A–1) implements the reporting requirements in Section 10A of the Securities Exchange Act of 1934 (15 U.S.C. 78j-1), which was enacted by Congress on December 22, 1995 as part of the Private Securities Litigation Reform Act of 1995, Public Law No. 104–67, 109 Stat 737. Under section 10A and Rule 10A– 1 reporting occurs only if a registrant’s board of directors receives a report from its auditors that (1) there is an illegal act material to the registrant’s financial statements, (2) senior management and the board have not taken timely and appropriate remedial action, and (3) the failure to take such action is reasonably expected to warrant the auditor’s modification of the audit report or resignation from the audit engagement. The board of directors must notify the Commission within one business day of receiving such a report. If the board fails to provide that notice, then the auditor, within the next business day, must provide the Commission with a copy of the report that it gave to the board. Likely respondents are those registrants filing audited financial VerDate Aug<31>2005 13:43 Sep 15, 2008 Jkt 214001 statements under the Securities Exchange Act of 1934 (15 U.S.C. 78a, et seq.) and the Investment Company Act of 1940 (15 U.S.C. 80a-1, et seq.). It is estimated that Rule 10A–1 results in an aggregate additional reporting burden of 10 hours per year. The estimated average burden hours are solely for purposes of the Paperwork Reduction Act and are not derived from a comprehensive or even a representative survey or study of the costs of SEC rules or forms. There are no recordkeeping retention periods in Rule 10A–1. Because of the one business day reporting periods, recordkeeping retention periods should not be significant. Filing the notice or report under Rule 10A–1 is mandatory once the conditions noted above have been satisfied. Because these notices and reports discuss potential illegal acts, they are considered to be investigative records and are kept confidential. 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. General comments regarding the above information should be directed to the following persons: (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 send an email to: Kimberly_P._Nelson@omb.eop.gov; and (ii) Lewis W. Walker, Acting 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 30 days of this notice. Dated: September 8, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–21528 Filed 9–15–08; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213 Extension: PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 53455 Rule 17a–10, OMB Control No. 3235–0122, SEC File No. 270–154 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 approval of extension of the existing collection of information provided for in the following rule: Rule 17a–10 (17 CFR 240.17a–10) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). Paragraph (a)(1) of Rule 17a–10 generally requires brokers and dealers that are exempted from the requirement to file monthly and quarterly reports pursuant to paragraph (a) of Exchange Act Rule 17a–5 (17 CFR 240.17a–5) to file with the Commission the Facing Page, a Statement of Income (Loss), and balance sheet from Part IIA of Form X– 17A–5 1 (17 CFR 249.617), and Schedule I of Form X–17A–5 not later than 17 business days after the end of each calendar year. Paragraph (a)(2) of Rule 17a–10 requires a broker or dealer subject to Rule 17a–5(a) to submit Schedule I of Form X–17A–5 with its Form X–17A–5 for the calendar quarter ending December 31 of each year. Paragraph (b) of Rule 17a–10 provides that the provisions of paragraph (a) do not apply to members of national securities exchanges or registered national securities associations that maintain records containing the information required by Form X–17A–5 and which transmit to the Commission copies of the records pursuant to a plan which has been declared effective by the Commission. The primary purpose of Rule 17a–10 is to obtain the economic and statistical data necessary for an ongoing analysis of the securities industry. As originally adopted in 1968, Rule 17a–10 required brokers and dealers to provide their revenue and expense data on a special form. The Rule was amended in 1977 to eliminate the form. The data previously reported on the form is now reported using Form X– 17A–5 and its supplementary schedules. The Commission estimates that approximately 500 broker-dealers will spend an average of approximately 12 hours per year complying with Rule 17a-10. Thus, the total compliance burden is estimated to be approximately 6,000 burden-hours per year. 1 Form X–17A–5 is the Financial and Operational Combined Uniform Single Report (‘‘FOCUS Report’’), which is used by brokers and dealers to provide certain required information to the Commission. E:\FR\FM\16SEN1.SGM 16SEN1

Agencies

[Federal Register Volume 73, Number 180 (Tuesday, September 16, 2008)]
[Notices]
[Page 53455]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-21528]


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

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 
20549-0213

Extension:
    Rule 10A-1, SEC File No. 270-425, OMB Control No. 3235-0468

    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.
    Rule 10A-1 (17 CFR 240.10A-1) implements the reporting requirements 
in Section 10A of the Securities Exchange Act of 1934 (15 U.S.C. 78j-
1), which was enacted by Congress on December 22, 1995 as part of the 
Private Securities Litigation Reform Act of 1995, Public Law No. 104-
67, 109 Stat 737. Under section 10A and Rule 10A-1 reporting occurs 
only if a registrant's board of directors receives a report from its 
auditors that (1) there is an illegal act material to the registrant's 
financial statements, (2) senior management and the board have not 
taken timely and appropriate remedial action, and (3) the failure to 
take such action is reasonably expected to warrant the auditor's 
modification of the audit report or resignation from the audit 
engagement. The board of directors must notify the Commission within 
one business day of receiving such a report. If the board fails to 
provide that notice, then the auditor, within the next business day, 
must provide the Commission with a copy of the report that it gave to 
the board.
    Likely respondents are those registrants filing audited financial 
statements under the Securities Exchange Act of 1934 (15 U.S.C. 78a, et 
seq.) and the Investment Company Act of 1940 (15 U.S.C. 80a-1, et 
seq.).
    It is estimated that Rule 10A-1 results in an aggregate additional 
reporting burden of 10 hours per year. The estimated average burden 
hours are solely for purposes of the Paperwork Reduction Act and are 
not derived from a comprehensive or even a representative survey or 
study of the costs of SEC rules or forms.
    There are no recordkeeping retention periods in Rule 10A-1. Because 
of the one business day reporting periods, recordkeeping retention 
periods should not be significant.
    Filing the notice or report under Rule 10A-1 is mandatory once the 
conditions noted above have been satisfied. Because these notices and 
reports discuss potential illegal acts, they are considered to be 
investigative records and are kept confidential.
    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.
    General comments regarding the above information should be directed 
to the following persons: (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 send an e-mail to: Kimberly_P._
Nelson@omb.eop.gov; and (ii) Lewis W. Walker, Acting 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 30 days of this notice.

    Dated: September 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21528 Filed 9-15-08; 8:45 am]
BILLING CODE 8010-01-P