Proposed Collection; Comment Request, 34416 [2012-14030]

Download as PDF 34416 Federal Register / Vol. 77, No. 112 / Monday, June 11, 2012 / Notices Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Dated: June 5, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–14027 Filed 6–8–12; 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. srobinson on DSK4SPTVN1PROD with NOTICES Extension: Rule 17f–2(a); SEC File No. 270–34; OMB Control No. 3235–0034. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 17f–2(a) (17 CFR 240.17f–2(a), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit the existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 17f–2(a) (Fingerprinting Requirements for Securities Professionals) requires that securities professionals be fingerprinted. This requirement serves to identify securityrisk personnel, to allow an employer to make fully informed employment decisions, and to deter possible wrongdoers from seeking employment in the securities industry. Partners, directors, officers, and employees of exchanges, brokers, dealers, transfer agents, and clearing agencies are included. The Commission staff estimates that approximately 10,000 respondents will submit fingerprint cards each year. It also estimates that each respondent will submit 55 fingerprint cards per year. The staff estimates that the average number of hours necessary to comply with Rule 17f–2(a) is one-half hour. Thus, the total estimated annual burden is 275,000 hours for all respondents (550,000 times one-half hour). The average internal labor cost of compliance per hour is approximately $50. Therefore, the total estimated annual internal labor cost of compliance for all respondents is $13,750,000 (275,000 times $50). VerDate Mar<15>2010 20:21 Jun 08, 2012 Jkt 226001 Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates 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. The Commission may not conduct or sponsor a collection of information unless it displays a currently valid OMB 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 OMB control number. Please direct your written comments to: Thomas Bayer, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, Alexandria, Virginia 22312 or send an email to: PRA_Mailbox@sec.gov. Dated: June 5, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–14030 Filed 6–8–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67119; File No. SR–DTC– 2012–04] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Enable Issuers To Send Corporate Action Announcements in Machine Readable Format June 5, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on May 25, 2012, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II below, which items have been prepared primarily by DTC. DTC filed the 1 15 PO 00000 U.S.C. 78s(b)(1). Frm 00080 Fmt 4703 Sfmt 4703 proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act and Rule 19b–4(f)(4) thereunder so that the proposed rule change was effective upon filing with the Commission.2 The Commission is publishing this notice to solicit comments on the proposed rule change from interested parties. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The purpose of this proposed rule change is to update DTC’s corporate action service in order to enable issuers to send to DTC dividend announcements on sponsored American Depositary Receipts (‘‘ADRs’’) using eXtensible Business Reporting Language (‘‘XBRL’’) through DTC’s Worldwide Announcement Validation Enrichment System platform (‘‘WAVE’’). II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, DTC included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. DTC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.3 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change (1) Purpose DTC routinely receives corporate action information from issuers and issuers’ transfer agents and currently makes such information available to DTC participants.4 In an effort to improve the accuracy in the announcing and processing of corporate action events, DTC plans to phase in the acceptance of corporate action announcements in XBRL. XBRL technology provides issuers with the ability to ‘‘tag’’ specific data elements describing the event in the announcements and documentations they distribute. Those tagged documents can then be electronically transmitted to DTC, and DTC can load the pertinent 2 15 U.S.C. 78s(b)(3)(A)(iii) and 17 CFR 240.19b– 4(f)(4). 3 The Commission has modified the text of the summaries prepared by DTC. 4 Some of the more common corporate actions are dividend payments, interest payments, voluntary tender offers, and redemption of municipal and corporate bonds. E:\FR\FM\11JNN1.SGM 11JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 112 (Monday, June 11, 2012)]
[Notices]
[Page 34416]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-14030]


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

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.

Extension:
    Rule 17f-2(a); SEC File No. 270-34; OMB Control No. 3235-0034.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 17f-2(a) (17 CFR 
240.17f-2(a), under the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.). The Commission plans to submit the existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval. Rule 17f-2(a) (Fingerprinting Requirements for 
Securities Professionals) requires that securities professionals be 
fingerprinted. This requirement serves to identify security- risk 
personnel, to allow an employer to make fully informed employment 
decisions, and to deter possible wrongdoers from seeking employment in 
the securities industry. Partners, directors, officers, and employees 
of exchanges, brokers, dealers, transfer agents, and clearing agencies 
are included.
    The Commission staff estimates that approximately 10,000 
respondents will submit fingerprint cards each year. It also estimates 
that each respondent will submit 55 fingerprint cards per year. The 
staff estimates that the average number of hours necessary to comply 
with Rule 17f-2(a) is one-half hour. Thus, the total estimated annual 
burden is 275,000 hours for all respondents (550,000 times one-half 
hour). The average internal labor cost of compliance per hour is 
approximately $50. Therefore, the total estimated annual internal labor 
cost of compliance for all respondents is $13,750,000 (275,000 times 
$50).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB 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 OMB control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an email to: PRA_Mailbox@sec.gov.

    Dated: June 5, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-14030 Filed 6-8-12; 8:45 am]
BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.