Submission for OMB Review; Comment Request, 53502-53503 [2011-21860]

Download as PDF emcdonald on DSK2BSOYB1PROD with NOTICES 53502 Federal Register / Vol. 76, No. 166 / Friday, August 26, 2011 / Notices widely depending on the frequency with which new customers are solicited. On the average for all respondents, the staff has estimated that respondents process three new customers per week, or approximately 156 new customer suitability determinations per year. We also estimate that a broker-dealer would expend approximately one-half hour per new customer in obtaining, reviewing, and processing (including transmitting to the customer) the information required by Rule 15g–9, and each respondent would consequently spend 78 hours annually (156 customers × .5 hours) obtaining the information required in the rule. We determined, based on the estimate of 253 brokerdealer respondents, that the current annual burden of Rule 15g–9 is 19,734 hours (253 respondents × 78 hours). In addition, we estimate that if tangible communications alone are used to transmit the documents required by Rule 15g–9, each customer should take: (1) No more than eight minutes to review, sign and return the suitability determination document; and (2) no more than two minutes to either read and return or produce the customer agreement for a particular recommended transaction in penny stocks, listing the issuer and number of shares of the particular penny stock to be purchased, and send it to the broker-dealer. Thus, the total current customer respondent burden is approximately 10 minutes per response, for an aggregate total of 1,560 minutes for each broker-dealer respondent. Since there are 253 respondents, the annual burden for customer responses is 394,680 minutes (1,560 customer minutes per each of the 253 respondents) or 6,578 hours. In addition, we estimate that, if tangible means of communications alone are used, broker-dealers could incur a recordkeeping burden under Rule 15g–9 of approximately two minutes per response. Since there are approximately 253 broker-dealer respondents and each respondent would have approximately 156 responses annually, respondents would incur an aggregate recordkeeping burden of 78,936 minutes (253 respondents × 156 responses × 2 minutes per response), or 1,315 hours. Accordingly, the aggregate annual hour recordkeeping burden associated with Rule 15g–9 is 27,627 hours (19,734 hours to prepare the suitability statement and agreement + 6,578 hours for customer review + 1,315 hours for processing). We recognize that under the amendments to Rule 15g–9, the burden hours may be slightly reduced if the transaction agreement required under the rule is provided through electronic VerDate Mar<15>2010 19:37 Aug 25, 2011 Jkt 223001 means such as an e-mail from the customer to the broker-dealer (e.g., the customer may take only one minute, instead of the two minutes estimated above, to provide the transaction agreement by e-mail rather than regular mail). If each of the customer respondents estimated above communicates with his or her brokerdealer electronically, the total burden hours on the customers would be reduced from 10 minutes to 9 minutes per response, or an aggregate total of 1,404 minutes per respondent (156 customers × 9 minutes for each customer). Since there are 253 respondents, the annual customer respondent burden, if electronic communications were used by all customers, would be approximately 355,212 minutes (253 respondents × 1,404 minutes per each respondent), or 5,920 hours. We do not believe the time burden on broker-dealers in obtaining, reviewing, and processing the suitability determination would change through use of electronic communications. In addition, we do not believe that, based on information currently available to us, recordkeeping burdens under Rule 15g– 9 would change where the required documents were sent or received through means of electronic communication. Thus, if all brokerdealer respondents obtain and send the documents required under the rule electronically, the aggregate annual hour burden associated with Rule 15g–9 would be 26,969 hours (19,734 hours to prepare the suitability statement and agreement + 5,920 hours for customer review + 1,315 recordkeeping hours). We cannot estimate how many brokerdealers and customers will choose to communicate electronically. If we assume that 50 percent of respondents would continue to provide documents and obtain signatures in tangible form, and 50 percent would choose to communicate electronically in satisfaction of the requirements of Rule 15g–9, the total aggregate hour burden would be 27,297 burden hours ((27,627 aggregate burden hours for documents and signatures in tangible form × 0.50 of the respondents = 13,813 hours) + (26,969 aggregate burden hours for electronically signed and transmitted documents × 0.50 of the respondents = 13,484 hours). The broker-dealer must keep the written suitability determination and customer agreement required by the Rule for at least three years. Completing the suitability determination and obtaining the customer agreement in writing is mandatory for broker-dealers who effect transactions in penny stocks and do not qualify for an exemption, but PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 does not involve the collection of confidential information. Please note that 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. 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, http:// 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: August 22, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–21858 Filed 8–25–11; 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 17f–2(c); SEC File No. 270– 35; OMB Control No. 3235–0029. 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 approval of extension of Rule 17f–2(c) (17 CFR 240.17f–2(c)). Rule 17f–2(c) allows persons required to be fingerprinted pursuant to Section 17(f)(2) of the Securities Exchange Act of 1934 to submit their fingerprints E:\FR\FM\26AUN1.SGM 26AUN1 emcdonald on DSK2BSOYB1PROD with NOTICES Federal Register / Vol. 76, No. 166 / Friday, August 26, 2011 / Notices through a registered securities exchange or a national securities association in accordance with a plan submitted to and approved by the Commission. Plans have been approved for the American, Boston, Chicago, New York, Pacific, and Philadelphia stock exchanges and for the Financial Industry Regulatory Authority (‘‘FINRA’’) and the Chicago Board Options Exchange. Currently, the bulk of the fingerprints are submitted through FINRA. It is estimated that approximately 4,939 respondents submit approximately 288,000 sets of fingerprints (consisting of 133,000 electronic fingerprints and 155,000 fingerprint cards) to exchanges or a national securities association on an annual basis. The Commission estimates that it would take approximately 15 minutes to create and submit each fingerprint card. The total reporting burden is therefore estimated to be 72,000 hours, or approximately 15 hours per respondent, annually. In addition, the exchanges and FINRA charge an estimated $30.25 fee for processing fingerprint cards, resulting in a total annual cost to all 4,939 respondents of $8,712,000, or $1,764 per respondent per year. Because the Federal Bureau of Investigation will not accept fingerprint cards directly from submitting organizations, Commission approval of plans from certain exchanges and national securities associations is essential to the Congressional goal of fingerprint personnel in the security industry. The filing of these plans for review assures users and their personnel that fingerprint cards will be handled responsibly and with due care for confidentiality. Submission of fingerprint plans under Rule 17f-2(c) is mandatory for selfregulatory organizations. 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. Background documentation for this information collection may be viewed at the following link, http:// 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 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 VerDate Mar<15>2010 19:37 Aug 25, 2011 Jkt 223001 to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: August 22, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–21860 Filed 8–25–11; 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 20549–0213. Extension: Form 8–A; OMB Control No. 3235–0056; SEC File No. 270–54. 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 this request for extension of the previously approved collection of information discussed below. Form 8–A (17 CFR 249.208a) is a registration statement used to register a class of securities under Sections 12(b) and 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(b) and 78l(g))(‘‘Exchange Act’’). Section 12(a) (15 U.S.C. 78l(a) of the Exchange Act requires securities traded on a national exchange to be registered under the Exchange Act (15 U.S.C. 78a et seq.). Exchange Act Section 12(b) establishes the registration procedures. Section 12(g) and Rule 12g–1 (17 CFR 240.12g– 1) under the Exchange Act requires issuers engaged in interstate commerce or in a business affecting interstate commerce, that has total assets of $10,000,000 or more, and a class of equity security held of record by 500 or more persons to register that class of security. The respondents are companies offering securities. The information must be filed with the Commission on occasion. Form 8–A is a public document and filing is mandatory. The form takes approximately 3 hours to prepare and is filed by 1,170 respondents for a total of 3,510 annual burden hours. 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. The public may view the background documentation for this information PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 53503 collection at the following Web site, http://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: August 22, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–21859 Filed 8–25–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65175; File No. SR–BX– 2011–057] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish and Adopt Fees for the New BX PreTrade Risk Management Service August 19, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that, on August 16, 2011, NASDAQ OMX BX, Inc. (the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to establish and adopt fees for the new BX Pre-Trade Risk Management service (‘‘PRM’’). The Exchange will implement the fee effective September 1, 2011. The text of the proposed rule change is below. Proposed new language is in 1 15 2 17 E:\FR\FM\26AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 26AUN1

Agencies

[Federal Register Volume 76, Number 166 (Friday, August 26, 2011)]
[Notices]
[Pages 53502-53503]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-21860]


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

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 17f-2(c); SEC File No. 270-35; OMB Control No. 3235-
0029.

    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 approval of extension of Rule 17f-2(c) (17 CFR 
240.17f-2(c)).
    Rule 17f-2(c) allows persons required to be fingerprinted pursuant 
to Section 17(f)(2) of the Securities Exchange Act of 1934 to submit 
their fingerprints

[[Page 53503]]

through a registered securities exchange or a national securities 
association in accordance with a plan submitted to and approved by the 
Commission. Plans have been approved for the American, Boston, Chicago, 
New York, Pacific, and Philadelphia stock exchanges and for the 
Financial Industry Regulatory Authority (``FINRA'') and the Chicago 
Board Options Exchange. Currently, the bulk of the fingerprints are 
submitted through FINRA.
    It is estimated that approximately 4,939 respondents submit 
approximately 288,000 sets of fingerprints (consisting of 133,000 
electronic fingerprints and 155,000 fingerprint cards) to exchanges or 
a national securities association on an annual basis. The Commission 
estimates that it would take approximately 15 minutes to create and 
submit each fingerprint card. The total reporting burden is therefore 
estimated to be 72,000 hours, or approximately 15 hours per respondent, 
annually. In addition, the exchanges and FINRA charge an estimated 
$30.25 fee for processing fingerprint cards, resulting in a total 
annual cost to all 4,939 respondents of $8,712,000, or $1,764 per 
respondent per year.
    Because the Federal Bureau of Investigation will not accept 
fingerprint cards directly from submitting organizations, Commission 
approval of plans from certain exchanges and national securities 
associations is essential to the Congressional goal of fingerprint 
personnel in the security industry. The filing of these plans for 
review assures users and their personnel that fingerprint cards will be 
handled responsibly and with due care for confidentiality.
    Submission of fingerprint plans under Rule 17f-2(c) is mandatory 
for self-regulatory organizations. 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. 
Background documentation for this information collection may be viewed 
at the following link, http://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 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: August 22, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-21860 Filed 8-25-11; 8:45 am]
BILLING CODE 8011-01-P