Proposed Collection; Comment Request, 57716-57717 [E9-26885]
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Federal Register / Vol. 74, No. 215 / Monday, November 9, 2009 / Notices
information from employers. The
employer is given thirty days from the
date of the notice to respond. The
responses are not required, but are
voluntary. If the job information is
received timely, it is compared to the
job information provided by the
employee. Any material differences are
resolved by an RRB disability examiner.
Once resolved, the information is
compared to the restrictions caused by
the medical impairment. If the
restrictions prohibit the performance of
the regular railroad occupation, the
claimant is found occupationally
disabled.
The RRB uses two forms to secure job
information data from the railroad
employer. RRB Form G–251a, Employer
Job Information (job description), is
released to an employer when an
application for an occupational
disability is filed by an employee whose
regular railroad occupation is one of the
more common types of railroad jobs
(locomotive engineer, conductor,
switchman, etc.) It is accompanied by a
*generic job description* for that
particular railroad job. The generic job
descriptions describe how these select
occupations are generally performed in
the railroad industry. However, not all
occupations are performed the same
way from railroad to railroad. Thus, the
employer is given an opportunity to
comment on whether the job description
matches the employee’s actual duties. If
the employer concludes that the generic
job description accurately describes the
work performed by the applicant, no
further action will be necessary. If the
employer determines that the tasks are
different, it may provide the RRB with
a description of the actual job tasks. The
employer has thirty days from the date
the form is released to reply.
Form G–251b, Employer Job
Information (general), is released to an
employer when an application for an
RRB occupational disability is filed by
an employee whose regular railroad
occupation does not have a generic job
description. It notifies the employer that
the employee has filed for a disability
annuity and that, if the employer
wishes, it may provide the RRB with job
duty information. The type of
information the RRB is seeking is
outlined on the form. The employer has
thirty days from the date the form is
released to reply.
The completion time for Form G–251a
and G–251b is estimated at 20 minutes.
Completion is voluntary. The RRB
estimates that approximately 125 G–
251a’s and 305 G–251b’s are completed
annually. The RRB proposes no changes
to Forms G–251a and G–251b.
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16:52 Nov 06, 2009
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Additional Information or Comments:
To request more information or to
obtain a copy of the information
collection justification, forms, and/or
supporting material, please call the RRB
Clearance Officer at (312) 751–3363 or
send an e-mail request to
Charles.Mierzwa@RRB.GOV. Comments
regarding the information collection
should be addressed to Patricia A.
Henaghan, Railroad Retirement Board,
844 North Rush Street, Chicago, Illinois
60611–2092 or send an e-mail to
Patricia.Henaghan@RRB.GOV. Written
comments should be received within 60
days of this notice.
Charles Mierzwa,
Clearance Officer.
[FR Doc. E9–26873 Filed 11–6–09; 8:45 am]
BILLING CODE 7905–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; 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:
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
19951 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 Regulations 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 (15 U.S.C. 78q) to
create a regulatory framework under
which a holding company of a brokerdealer (‘‘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
1 44
U.S.C. 3501 et seq.
Law 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 Public
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
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
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 proposed collection of
information is necessary for the proper
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)(4).
E:\FR\FM\09NON1.SGM
09NON1
Federal Register / Vol. 74, No. 215 / Monday, November 9, 2009 / Notices
performance of the functions of the
agency, including whether the
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
Charles Boucher, 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.
November 2, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–26885 Filed 11–6–09; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon written request, copies available
from: U.S. Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
mstockstill on DSKH9S0YB1PROD with NOTICES
Extension:
Rule 17i–5, SEC File No. 270–531, OMB
Control No. 3235–0590.
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 Regulations citation to this
collection of information is the
following: 17 CFR 240.17i–5.
Section 231 of the Gramm-LeachBliley Act of 1999 2 (the ‘‘GLBA’’)
amended Section 17 of the Securities
Exchange Act of 1934 (15 U.S.C. 78q) to
create a regulatory framework under
which a holding company of a brokerdealer (‘‘investment bank holding
company’’ or ‘‘IBHC’’) may voluntarily
be supervised by the Commission as a
1 44
U.S.C. 3501 et seq.
Law 106–102, 113 Stat. 1338 (1999).
2 Public
VerDate Nov<24>2008
16:52 Nov 06, 2009
Jkt 220001
supervised investment bank holding
company (or ‘‘SIBHC’’).3 In 2004, the
Commission promulgated rules,
including Rule 17i–5, 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 would be
required to make and keep records,
furnish copies thereof, and make such
reports as the Commission may require
by rule.6 Rule 17i–5 would require that
an SIBHC make and keep current certain
records relating to its business. In
addition, it would require that an SIBHC
preserve those and other records for
certain prescribed time periods.
The collections of information
required pursuant to Rule 17i–5 are
necessary so that the Commission can
adequately supervise the activities of
these SIBHCs. In addition, these
collections of information are needed 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. Rule
17i–5 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 this information and
documentation, 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.
In addition to the one firm currently
supervised by the Commission as an
SIBHC, we estimate that 2 IBHCs will
file Notices of Intention with the
Commission to be supervised by the
Commission as SIBHCs; for a total of
three firms. An SIBHC will generally
require about 40 hours to create and
document a contingency plan regarding
funding and liquidity of the affiliate
3 See
15 U.S.C. 78q(i).
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).
4 See
PO 00000
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Fmt 4703
Sfmt 4703
57717
group at a cost of $9,200 per SIBHC.7 An
SIBHC will require, on average,
approximately 64 hours each quarter to
create a record regarding stress tests, or
approximately 256 hours each year and
a cost of $49,920.8 Further, an SIBHC
will establish approximately 20 new
counterparty arrangements each year,
and will take, on average, about 30
minutes to create a record regarding the
basis for credit risk weights for each
such counterparty for a cost of $84,000.9
Finally, an SIBHC will generally require
about 24 hours per year to maintain the
specified records for a cost of $4,632.10
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–5.
Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the agency, including
7 We believe that an SIBHC would have a Senior
Treasury Manager create this record. According to
the Securities Industry and Financial Markets
Association (‘‘SIFMA’’), the hourly cost of a Senior
Treasury Manager is $230, as reflected in the
SIFMA’s Report on Management and Professional
Earnings for 2008 (‘‘SIFMA’s Report on Professional
Earnings’’), and modified to account for an 1,800hour work-year and multiplied by 5.35 to account
for bonuses, firm size, employee benefits and
overhead. ($230 × 40 hours) = $9,200.
8 We believe that an SIBHC would have a Floor
Supervisor, or equivalent, create this record with an
hourly cost of $195, as reflected in SIFMA’s Report
on Professional Earnings’’). ($195 × 256) = $49,920.
9 On average, each firm presently maintains
relationships with approximately 1,000
counterparties. Further, firms generally already
maintain documentation regarding their credit
decisions, including their determination of credit
risk weights, for those counterparties. We believe
that an SIBHC would have an Intermediate
Accountant create this record, which according to
SIFMA’s Report on Professional Earnings receives
an hourly rate of $141. ($141 × (30 minutes × 20
counterparties)) = $84,000.
10 We believe that an SIBHC would have a
Program Analyst perform this task and according to
SIFMA’s Report on Professional Earnings, a
Programmer Analyst receives an hourly rate of
$193. ($193 × 24) = $4,632.
E:\FR\FM\09NON1.SGM
09NON1
]]>Agencies
[Federal Register Volume 74, Number 215 (Monday, November 9, 2009)]
[Notices]
[Pages 57716-57717]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-26885]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; 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:
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 collections of information
discussed below. The Code of Federal Regulations citation to this
collection of information is the following rule: 17 CFR 240.17i-8.
---------------------------------------------------------------------------
\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 (15
U.S.C. 78q) 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
broker-dealers.\5\
---------------------------------------------------------------------------
\2\ Public Law 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-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 required to be filed pursuant to Rule
17i-8 must be preserved for a period of not less than three years.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78q(i)(3)(A).
\7\ 17 CFR 240.17i-5(b)(4).
---------------------------------------------------------------------------
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 proposed
collection of information is necessary for the proper
[[Page 57717]]
performance of the functions of the agency, including whether the
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 Charles Boucher, 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.
November 2, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-26885 Filed 11-6-09; 8:45 am]
BILLING CODE 8011-01-P
