Submission for OMB Review; Comment Request, 32381 [2011-13856]
Download as PDF
Federal Register / Vol. 76, No. 108 / Monday, June 6, 2011 / Notices
labor costs plus a nominal and
unquantifiable amount of computer
operations/maintenance cost (because
the Forms must be filed electronically
through the Commission’s EDGAR
system). For transfer agents that
complete Form TA–W themselves, we
estimate the cost per filing is $25
(.5 hours times $50 average hourly rate
for clerical staff time), which is an
internal labor cost. We estimate that
outside filing agents charge $100 to
complete and file at TA–W on behalf of
a registrant, reflecting an external cost to
respondents.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid Office of Management and
Budget (OMB) control number.
Background documentation for this
information collection may be viewed at
the following link, https://
www.reginfo.gov. 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:
Shagufta_Ahmed@omb.eop.gov; and
(ii) Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 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.
May 31, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–13857 Filed 6–3–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
jlentini on DSK4TPTVN1PROD with NOTICES
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 15c2–11; SEC File No. 270–196;
OMB Control No. 3235–0202. .
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
VerDate Mar<15>2010
16:06 Jun 03, 2011
Jkt 223001
(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 approval of extension of the
previously approved collection of
information provided for in Rule 15c2–
11, (17 CFR 240.15c2–11), under the
Securities Exchange Act of 1934
(15 U.S.C. 78a et seq.).
On September 13, 1971, effective
December 13, 1971 (see 36 FR 18641,
September 18, 1971), the Commission
adopted Rule 15c2–11 (Rule) under the
Securities Exchange Act of 1934
(15 U.S.C. 78a et seq.) to regulate the
initiation or resumption of quotations in
a quotation medium by a broker-dealer
for over-the-counter (OTC) securities.
The Rule was designed primarily to
prevent certain manipulative and
fraudulent trading schemes that had
arisen in connection with the
distribution and trading of unregistered
securities issued by shell companies or
other companies having outstanding but
infrequently traded securities. Subject to
certain exceptions, the Rule prohibits
brokers-dealers from publishing a
quotation for a security, or submitting a
quotation for publication, in a quotation
medium unless they have reviewed
specified information concerning the
security and the issuer.
Based on information provided by
Financial Industry Regulatory
Authority, Inc. (FINRA), in the 2010
calendar year, FINRA received
approximately 1,798 applications from
broker-dealers to initiate or resume
publication of covered OTC securities in
the OTC Bulletin Board and/or the Pink
Sheets or other quotation mediums. We
estimate that (i) 41% of the covered
OTC securities were issued by reporting
issuers, while the other 59% were
issued by non-reporting issuers, and (ii)
it will take a broker-dealer about 4 hours
to review, record and retain the
information pertaining to a reporting
issuer, and about 8 hours to review,
record and retain the information
pertaining to a non-reporting issuer.
We therefore estimate that brokerdealers who initiate or resume
publication of quotations for covered
OTC securities of reporting issuers will
require 2,949 hours (1,798 × 41% × 4)
to review, record and retain the
information required by the Rule. We
estimate that broker-dealers who initiate
or resume publication of quotations for
covered OTC securities of non-reporting
issuers will require 8,487 hours (1,798
× 59% × 8) to review, record and retain
the information required by the Rule.
Thus, we estimate the total annual
burden hours for broker-dealers to
initiate or resume publication of
PO 00000
Frm 00027
Fmt 4703
Sfmt 9990
32381
quotations of covered OTC securities to
be 11,436 hours (2,949 + 8,487). The
Commission believes that these 11,436
hours would be borne by staff working
at a rate of $40 per hour.1
Subject to certain exceptions, the Rule
prohibits brokers-dealers from
publishing a quotation for a security, or
submitting a quotation for publication,
in a quotation medium unless they have
reviewed specified information
concerning the security and the issuer.
The broker-dealer must also make the
information reasonably available upon
request to any person expressing an
interest in a proposed transaction in the
security with such broker or dealer. The
collection of information that is
submitted to FINRA for review and
approval is currently not available to the
public from FINRA.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid Office of Management and
Budget (OMB) control number.
Background documentation for this
information collection may be viewed at
the following link, https://
www.reginfo.gov. 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:
Shagufta_Ahmed@omb.eop.gov; and (ii)
Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail
to: PRA_Mailbox@sec.gov . Comments
must be submitted to OMB within 30
days of this notice.
Dated: May 31, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–13856 Filed 6–3–11; 8:45 am]
BILLING CODE 8011–01–P
1 See Appendix C, SIFMA Office Salaries Data—
Sept. 2007 for General Clerk national hourly rate.
E:\FR\FM\06JNN1.SGM
06JNN1
Agencies
[Federal Register Volume 76, Number 108 (Monday, June 6, 2011)]
[Notices]
[Page 32381]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-13856]
-----------------------------------------------------------------------
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 15c2-11; SEC File No. 270-196; OMB Control No. 3235-0202. .
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 approval of extension of the previously approved
collection of information provided for in Rule 15c2-11, (17 CFR
240.15c2-11), under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.).
On September 13, 1971, effective December 13, 1971 (see 36 FR
18641, September 18, 1971), the Commission adopted Rule 15c2-11 (Rule)
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) to
regulate the initiation or resumption of quotations in a quotation
medium by a broker-dealer for over-the-counter (OTC) securities. The
Rule was designed primarily to prevent certain manipulative and
fraudulent trading schemes that had arisen in connection with the
distribution and trading of unregistered securities issued by shell
companies or other companies having outstanding but infrequently traded
securities. Subject to certain exceptions, the Rule prohibits brokers-
dealers from publishing a quotation for a security, or submitting a
quotation for publication, in a quotation medium unless they have
reviewed specified information concerning the security and the issuer.
Based on information provided by Financial Industry Regulatory
Authority, Inc. (FINRA), in the 2010 calendar year, FINRA received
approximately 1,798 applications from broker-dealers to initiate or
resume publication of covered OTC securities in the OTC Bulletin Board
and/or the Pink Sheets or other quotation mediums. We estimate that (i)
41% of the covered OTC securities were issued by reporting issuers,
while the other 59% were issued by non-reporting issuers, and (ii) it
will take a broker-dealer about 4 hours to review, record and retain
the information pertaining to a reporting issuer, and about 8 hours to
review, record and retain the information pertaining to a non-reporting
issuer.
We therefore estimate that broker-dealers who initiate or resume
publication of quotations for covered OTC securities of reporting
issuers will require 2,949 hours (1,798 x 41% x 4) to review, record
and retain the information required by the Rule. We estimate that
broker-dealers who initiate or resume publication of quotations for
covered OTC securities of non-reporting issuers will require 8,487
hours (1,798 x 59% x 8) to review, record and retain the information
required by the Rule. Thus, we estimate the total annual burden hours
for broker-dealers to initiate or resume publication of quotations of
covered OTC securities to be 11,436 hours (2,949 + 8,487). The
Commission believes that these 11,436 hours would be borne by staff
working at a rate of $40 per hour.\1\
---------------------------------------------------------------------------
\1\ See Appendix C, SIFMA Office Salaries Data--Sept. 2007 for
General Clerk national hourly rate.
---------------------------------------------------------------------------
Subject to certain exceptions, the Rule prohibits brokers-dealers
from publishing a quotation for a security, or submitting a quotation
for publication, in a quotation medium unless they have reviewed
specified information concerning the security and the issuer. The
broker-dealer must also make the information reasonably available upon
request to any person expressing an interest in a proposed transaction
in the security with such broker or dealer. The collection of
information that is submitted to FINRA for review and approval is
currently not available to the public from FINRA.
The Commission may not conduct or sponsor a collection of
information unless it displays a currently valid control number. No
person shall be subject to any penalty for failing to comply with a
collection of information subject to the PRA that does not display a
valid Office of Management and Budget (OMB) control number. Background
documentation for this information collection may be viewed at the
following link, https://www.reginfo.gov. 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas
Bayer, Director/Chief Information Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon, 6432 General Green Way, Alexandria,
VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov . Comments must be
submitted to OMB within 30 days of this notice.
Dated: May 31, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-13856 Filed 6-3-11; 8:45 am]
BILLING CODE 8011-01-P