Agency Information Collection Activities; Proposed Collection, Comment Request: Further Definition of “Swap,” “Security-Based Swap,” and “Security-Based Swap Agreement”; Mixed Swaps; Security-Based Swap Agreement Recordkeeping: Book-out Agreement Confirmation, 49428-49430 [2012-20123]
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mstockstill on DSK4VPTVN1PROD with NOTICES
49428
Federal Register / Vol. 77, No. 159 / Thursday, August 16, 2012 / Notices
submitted on paper in a format that
facilitates convenient digital scanning
into ADOBE® portable document
format.
The comments will be available for
public inspection at the Office of the
Commissioner for Patents, currently
located in Madison East, Tenth Floor,
600 Dulany Street, Alexandria, Virginia.
Comments also will be available for
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comments will be made available for
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submitter does not desire to make
public, such as an address or phone
number, should not be included in the
comments.
FOR FURTHER INFORMATION CONTACT:
Janet Gongola, Patent Reform
Coordinator, by telephone at (571) 272–
8734, or by electronic mail message at
janet.gongola@uspto.gov.
SUPPLEMENTARY INFORMATION: The AIA
was enacted into law on September 16,
2011. Public Law 112–29, 125 Stat. 284
(2011). Section 3 of the AIA amends the
patent laws to: (1) Convert the United
States patent system from a ‘‘first to
invent’’ system to a ‘‘first inventor to
file’’ system; (2) eliminate the
requirement that a prior public use or
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and U.S. patent application publications
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upon an application filed in the U.S. or
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application publications, or those
resulting from a joint research
agreement, as being by the same
inventive entity for purposes of 35
U.S.C. 102 and 103. The changes in
section 3 of the AIA take effect on
March 16, 2013.
The USPTO published a notice of
proposed rulemaking and notice of
proposed examination guidelines on
July 26, 2012, to implement the firstinventor-to-file provisions of the AIA.
See Changes to Implement the First
Inventor to File Provisions of the LeahySmith America Invents Act, 77 FR
43742 (July 26, 2012), and Examination
Guidelines for Implementing the FirstInventor-to-File Provisions of the LeahySmith America Invents Act, 77 FR
43759 (July 26, 2012). The notice of
proposed rulemaking proposes changes
to the rules of practice in title 37 of the
Code of Federal Regulations (CFR) for
consistency with, and to address the
examination issues raised by, the
changes in section 3 of the AIA. The
proposed examination guidelines set out
VerDate Mar<15>2010
16:38 Aug 15, 2012
Jkt 226001
the Office’s interpretation of 35 U.S.C.
102 and 103 as amended by the AIA,
and advise the public and the Patent
Examining Corps on how the changes to
35 U.S.C. 102 and 103 in the AIA
impact the provisions of the Manual of
Patent Examining Procedure (MPEP)
pertaining to 35 U.S.C. 102 and 103.
As a part of the implementation of the
AIA, the USPTO is conducting a
roundtable at the USPTO to obtain
public input from organizations and
individuals on issues relating to the
USPTO’s implementation of the firstinventor-to-file provisions of the AIA.
The USPTO plans to invite participants
from patent user groups, practitioners,
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organizations, academia, and
government to provide input. The
roundtable likewise is open to any
member of the public to provide input.
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prior to the roundtable in order to focus
the discussion and enhance the
efficiency of the proceedings. The
agenda will be posted on the USPTO’s
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AmericaInventsAct. The USPTO plans
to make the roundtable available via
Web cast. Web cast information will be
available before the roundtable on the
USPTO’s Internet Web site at
www.uspto.gov/AmericaInventsAct.
Dated: August 3, 2012.
David J. Kappos,
Under Secretary of Commerce for Intellectual
Property and Director of the United States
Patent and Trademark Office.
[FR Doc. 2012–20239 Filed 8–15–12; 8:45 am]
BILLING CODE 3510–16–P
COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities; Proposed Collection,
Comment Request: Further Definition
of ‘‘Swap,’’ ‘‘Security-Based Swap,’’
and ‘‘Security-Based Swap
Agreement’’; Mixed Swaps; SecurityBased Swap Agreement
Recordkeeping: Book-out Agreement
Confirmation
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:
The Commodity Futures
Trading Commission (‘‘Commission’’ or
‘‘CFTC’’) is announcing an opportunity
for public comment on the proposed
collection of certain information by the
agency. Under the Paperwork Reduction
Act (‘‘PRA’’), 44 U.S.C. 3501 et seq.,
Federal agencies are required to publish
notice in the Federal Register
SUMMARY:
PO 00000
Frm 00020
Fmt 4703
Sfmt 4703
concerning each proposed collection of
information and to allow 60 days for
public comment. The Commission
recently adopted a final rule and
interpretations, as required by the DoddFrank Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’),
requiring that oral book-out agreements
must be followed in a commercially
reasonable timeframe by a confirmation
in some type of written or electronic
form. This notice solicits comments on
the recordkeeping requirement that is
embedded in the final interpretation’s
reporting requirement.
DATES: Comments must be submitted on
or before October 15, 2012.
You may submit comments,
regarding the burden estimated or any
other aspect of the information
collection, including suggestions for
reducing the burden, by any of the
following methods:
• Office of Information and
Regulatory Affairs, Office of
Management and Budget, Attention:
Desk Officer for CFTC, 725 17th Street,
Washington, DC 20503.
Comments may also be submitted by
any of the following methods:
• The Agency’s Web site, at https://
comments.cftc.gov/. Follow the
instructions for submitting comments
through the Web site.
• Mail: David A. Stawick, Secretary of
the Commission, Commodity Futures
Trading Commission, Three Lafayette
Centre, 1155 21st Street NW.,
Washington, DC 20581.
• Hand Delivery/Courier: Same as
mail above.
• Federal eRulemaking Portal: https://
www.regulations.gov.
Please submit your comments using
only one method.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments will be
posted as received to www.cftc.gov. If
you wish the Commission to consider
information that you believe is exempt
from disclosure under the Freedom of
Information Act, a petition for
confidential treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.1
FOR FURTHER INFORMATION CONTACT:
Julian E. Hammar, Assistant General
Counsel, at 202–418–5118,
jhammar@cftc.gov; Lee Ann Duffy,
Assistant General Counsel, at 202–418–
6763, lduffy@cftc.gov; or David E. Aron,
Counsel, at 202–418–6621,
daron@cftc.gov, Office of General
Counsel, Commodity Futures Trading
ADDRESSES:
1 See
E:\FR\FM\16AUN1.SGM
17 CFR 145.9.
16AUN1
Federal Register / Vol. 77, No. 159 / Thursday, August 16, 2012 / Notices
Commission, Three Lafayette Centre,
1155 21st Street NW., Washington, DC
20581.
SUPPLEMENTARY INFORMATION: Under the
PRA, Federal agencies must obtain
approval from the Office of Management
and Budget (‘‘OMB’’) for each collection
of information they conduct or sponsor.
‘‘Collection of Information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR 1320.3
and includes agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of the PRA, 44 U.S.C.
3506(c)(2)(A), requires Federal agencies
to provide a 60-day notice in the
Federal Register concerning each
proposed collection of information
before submitting the collection to OMB
for approval. 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. To
comply with this requirement, the CFTC
is publishing the notice of the proposed
collection of information listed below.
Abstract: In accordance with section
712(a)(8), section 712(d)(1), sections
712(d)(2)(B) and (C), sections 721(b) and
(c), and section 761(b) of the DoddFrank Act, on July 10, 2012, the
Commodity Futures Trading
Commission (‘‘CFTC’’) and the
Securities and Exchange Commission
(‘‘SEC’’) (collectively, ‘‘Commissions’’),
in consultation with the Board of
Governors of the Federal Reserve
System (‘‘Board’’), jointly adopted new
rules and interpretations under the
Commodity Exchange Act (‘‘CEA’’) and
the Securities Exchange Act of 1934
(‘‘Exchange Act’’) to further define the
terms ‘‘swap,’’ ‘‘security-based swap,’’
and ‘‘security-based swap agreement’’
(collectively, ‘‘Product Definitions’’);
regarding ‘‘mixed swaps;’’ and
governing books and records with
respect to ‘‘security-based swap
agreements’’ (collectively, ‘‘Adopting
Release’’).2
In the Adopting Release, the CFTC
clarified that its ‘‘Brent Interpretation’’
regarding book-outs developed in
connection with the forward exclusion
from futures applies to the forward
exclusion from the swap definition as
well. As noted in the Adopting Release,
the issue of book-outs first arose in 1990
in the CFTC’s Brent Interpretation.
Citing to the Brent Interpretation’s
description of book-outs, the Adopting
Release stated:
It is noteworthy that while such [book-out]
agreements may extinguish a party’s delivery
obligation, they are separate, individually
negotiated, new agreements, there is no
obligation or arrangement to enter into such
agreements, they are not provided for by the
terms of the contracts as initially entered
into, and any party that is in a position in
a distribution chain that provides for the
opportunity to book-out with another party
or parties in the chain is nevertheless entitled
to require delivery of the commodity to be
made through it, as required under the
contracts.3
In response to a comment to the
proposed rule, the interpretation
49429
included in the Adopting Release
clarified that an oral book-out agreement
must be followed in a commercially
reasonable timeframe by a confirmation
in some type of written or electronic
form. If a party to a contract elects to
enter into such a book-out agreement,
the collection of information would be
mandatory to qualify for the Brent
Interpretation Safe Harbor. If the
Commission obtains information
required to be kept through this
collection, it would protect proprietary
information in accordance with the
Freedom of Information Act and 17 CFR
part 145, ‘‘Commission Records and
Information.’’ In addition, Section
8(a)(1) of the CEA strictly prohibits the
Commission, unless specifically
authorized by the CEA, from making
public ‘‘data and information that
would separately disclose the business
transactions or market positions of any
person and trade secrets or names of
customers.’’ 4 The Commission is also
required to protect certain information
contained in a government system of
records according to the Privacy Act of
1974, 5 U.S.C. 552a.
Burden Statement: The respondent
burden for this collection is estimated to
be 10 minutes per response. This
estimate includes the time to prepare
the written or electronic confirmation to
an oral book-out agreement. The
Commission estimates the average
burden of this collection of information
as follows:
ESTIMATED ANNUAL REPORTING BURDEN HOURS
17 CFR
Annual number of respondents
17 CFR Part 1 ....................
30,000
Frequency of
response per
respondent
Hours per response
and cost
On occasion, 1–2 annually.
10 minutes per response (.166 hour),
at $16.60 per response.5
Total annual
responses
45,000, (average of
1–2 annually for a
total of 30,000–
60,000 annually).
Total hours cost
7,470 (average of
5,000–10,000 total
hours annually; 6
$747,000, based on
$100/hour.7
mstockstill on DSK4VPTVN1PROD with NOTICES
Respondents/Affected Entities:
30,000.
Estimated average number of
responses: 45,000 [1–2 annually for a
total of 30,000–60,000 annually]
Estimated total average annual
burden on respondents: 7,470 [5,000–
10,000] hours.
2 77 FR 48207, August 13, 2012 (‘‘Product
Definitions’’).
3 Statutory Interpretation Concerning Forward
Transactions, 55 FR 39188, 39192 Sept. 25, 1990,
(‘‘Brent Interpretation’’).
4 7 U.S.C. 12(a)(1).
5 Cost per response: .166 × $100, Average: 1.5 ×
.166 × $100. The Commission estimates that entities
will spend $100 per hour. The $100 per hour
estimate was used as the average hourly wage rate
in the PRA section of the Internal Business Conduct
Standards for Swap Dealers and Major Swap
Participants final rule (See 77 FR 20128, 20194) and
the wage rate for Chief Compliance Officers under
the Derivatives Clearing Organization final rules
(See 76 FR 69344, 69428). As the Commission
explained in the Internal Business Conduct
Standards final rule, the estimate of $100 per hour
was based on recent Bureau of Labor Statistics
findings, including the mean hourly wage of an
employee under occupation code 23–1011,
‘‘Lawyers,’’ that is employed by the ‘‘Securities and
Commodity Contracts Intermediation and Brokerage
Industry,’’ which is $82.22. The mean hourly wage
of an employee under occupation code 11–3031,
‘‘Financial Manager,’’ in the same industry is
$74.41. Additionally, SIFMA’s ‘‘Report on
Management & Professional Earnings in the
Securities Industry—2010’’ estimates the average
wage of a compliance attorney and a compliance
staffer in the U.S. at only $46.31 per hour. As in
those rules, the Commission is using a $100 per
hour wage rate in calculating the cost burdens
imposed by this collection of information and
requests comment on the accuracy of its estimate.
6 Total number of hours arrived by multiplying
the average number of responses, [(30,000 +
60,000)/2] × .166 minutes = 7,470 hours.
7 7,470 hours × $100 per hour = $747,000.
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16:38 Aug 15, 2012
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E:\FR\FM\16AUN1.SGM
16AUN1
49430
Federal Register / Vol. 77, No. 159 / Thursday, August 16, 2012 / Notices
mstockstill on DSK4VPTVN1PROD with NOTICES
Frequency of collection: Occasionally,
1–2 annually.
Average total cost: $747,000.
There are no capital costs or operating
and maintenance costs associated with
this collection. The Commission
believes that, as part of customary and
usual business practices, most
respondents already create and store
book-out agreements in either a written
or electronic format.
The Commission invites comments
on:
• Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information will have a practical use;
• The accuracy of the Commission’s
estimate of the burden of the proposed
collection of information, including the
validity of the methodology and
assumptions used;
• Ways to enhance the quality,
usefulness, and clarity of the
information to be collected; and
VerDate Mar<15>2010
16:38 Aug 15, 2012
Jkt 226001
• Ways to minimize the burden of
collection of information on those who
are to respond, including through the
use of appropriate automated electronic,
mechanical, or other technological
collection techniques or other forms of
information technology; e.g., permitting
electronic submission of responses.
Dated: August 13, 2012.
Sauntia Warfield,
Assistant Secretary of the Commission.
[FR Doc. 2012–20123 Filed 8–15–12; 8:45 am]
BILLING CODE P
DEPARTMENT OF DEFENSE
Office of the Secretary
[Transmittal Nos. 12–38]
36(b)(1) Arms Sales Notification
ACTION:
Notice.
The Department of Defense is
publishing the unclassified text of a
section 36(b)(1) arms sales notification.
This is published to fulfill the
requirements of section 155 of Public
Law 104–164 dated July 21, 1996.
SUMMARY:
Ms.
B. English, DSCA/DBO/CFM, (703) 601–
3740.
The following is a copy of a letter to
the Speaker of the House of
Representatives, Transmittals 12–38
with attached transmittal, and policy
justification.
FOR FURTHER INFORMATION CONTACT:
Dated: August 10, 2012.
Aaron Siegel,
Alternate OSD Federal Register Liaison
Officer, Department of Defense.
BILLING CODE 5001–06–P
Defense Security Cooperation
Agency, Department of Defense.
AGENCY:
PO 00000
Frm 00022
Fmt 4703
Sfmt 4703
E:\FR\FM\16AUN1.SGM
16AUN1
Agencies
[Federal Register Volume 77, Number 159 (Thursday, August 16, 2012)]
[Notices]
[Pages 49428-49430]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-20123]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
Agency Information Collection Activities; Proposed Collection,
Comment Request: Further Definition of ``Swap,'' ``Security-Based
Swap,'' and ``Security-Based Swap Agreement''; Mixed Swaps; Security-
Based Swap Agreement Recordkeeping: Book-out Agreement Confirmation
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (``Commission'' or
``CFTC'') is announcing an opportunity for public comment on the
proposed collection of certain information by the agency. Under the
Paperwork Reduction Act (``PRA''), 44 U.S.C. 3501 et seq., Federal
agencies are required to publish notice in the Federal Register
concerning each proposed collection of information and to allow 60 days
for public comment. The Commission recently adopted a final rule and
interpretations, as required by the Dodd-Frank Wall Street Reform and
Consumer Protection Act (``Dodd-Frank Act''), requiring that oral book-
out agreements must be followed in a commercially reasonable timeframe
by a confirmation in some type of written or electronic form. This
notice solicits comments on the recordkeeping requirement that is
embedded in the final interpretation's reporting requirement.
DATES: Comments must be submitted on or before October 15, 2012.
ADDRESSES: You may submit comments, regarding the burden estimated or
any other aspect of the information collection, including suggestions
for reducing the burden, by any of the following methods:
Office of Information and Regulatory Affairs, Office of
Management and Budget, Attention: Desk Officer for CFTC, 725 17th
Street, Washington, DC 20503.
Comments may also be submitted by any of the following methods:
The Agency's Web site, at https://comments.cftc.gov/.
Follow the instructions for submitting comments through the Web site.
Mail: David A. Stawick, Secretary of the Commission,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street NW., Washington, DC 20581.
Hand Delivery/Courier: Same as mail above.
Federal eRulemaking Portal: https://www.regulations.gov.
Please submit your comments using only one method.
All comments must be submitted in English, or if not, accompanied
by an English translation. Comments will be posted as received to
www.cftc.gov. If you wish the Commission to consider information that
you believe is exempt from disclosure under the Freedom of Information
Act, a petition for confidential treatment of the exempt information
may be submitted according to the procedures established in Sec. 145.9
of the Commission's regulations.\1\
---------------------------------------------------------------------------
\1\ See 17 CFR 145.9.
FOR FURTHER INFORMATION CONTACT: Julian E. Hammar, Assistant General
Counsel, at 202-418-5118, jhammar@cftc.gov; Lee Ann Duffy, Assistant
General Counsel, at 202-418-6763, lduffy@cftc.gov; or David E. Aron,
Counsel, at 202-418-6621, daron@cftc.gov, Office of General Counsel,
Commodity Futures Trading
[[Page 49429]]
Commission, Three Lafayette Centre, 1155 21st Street NW., Washington,
---------------------------------------------------------------------------
DC 20581.
SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain
approval from the Office of Management and Budget (``OMB'') for each
collection of information they conduct or sponsor. ``Collection of
Information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3 and
includes agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of the PRA, 44 U.S.C. 3506(c)(2)(A), requires
Federal agencies to provide a 60-day notice in the Federal Register
concerning each proposed collection of information before submitting
the collection to OMB for approval. 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. To
comply with this requirement, the CFTC is publishing the notice of the
proposed collection of information listed below.
Abstract: In accordance with section 712(a)(8), section 712(d)(1),
sections 712(d)(2)(B) and (C), sections 721(b) and (c), and section
761(b) of the Dodd-Frank Act, on July 10, 2012, the Commodity Futures
Trading Commission (``CFTC'') and the Securities and Exchange
Commission (``SEC'') (collectively, ``Commissions''), in consultation
with the Board of Governors of the Federal Reserve System (``Board''),
jointly adopted new rules and interpretations under the Commodity
Exchange Act (``CEA'') and the Securities Exchange Act of 1934
(``Exchange Act'') to further define the terms ``swap,'' ``security-
based swap,'' and ``security-based swap agreement'' (collectively,
``Product Definitions''); regarding ``mixed swaps;'' and governing
books and records with respect to ``security-based swap agreements''
(collectively, ``Adopting Release'').\2\
---------------------------------------------------------------------------
\2\ 77 FR 48207, August 13, 2012 (``Product Definitions'').
---------------------------------------------------------------------------
In the Adopting Release, the CFTC clarified that its ``Brent
Interpretation'' regarding book-outs developed in connection with the
forward exclusion from futures applies to the forward exclusion from
the swap definition as well. As noted in the Adopting Release, the
issue of book-outs first arose in 1990 in the CFTC's Brent
Interpretation. Citing to the Brent Interpretation's description of
book-outs, the Adopting Release stated:
It is noteworthy that while such [book-out] agreements may
extinguish a party's delivery obligation, they are separate,
individually negotiated, new agreements, there is no obligation or
arrangement to enter into such agreements, they are not provided for
by the terms of the contracts as initially entered into, and any
party that is in a position in a distribution chain that provides
for the opportunity to book-out with another party or parties in the
chain is nevertheless entitled to require delivery of the commodity
to be made through it, as required under the contracts.\3\
---------------------------------------------------------------------------
\3\ Statutory Interpretation Concerning Forward Transactions, 55
FR 39188, 39192 Sept. 25, 1990, (``Brent Interpretation'').
In response to a comment to the proposed rule, the interpretation
included in the Adopting Release clarified that an oral book-out
agreement must be followed in a commercially reasonable timeframe by a
confirmation in some type of written or electronic form. If a party to
a contract elects to enter into such a book-out agreement, the
collection of information would be mandatory to qualify for the Brent
Interpretation Safe Harbor. If the Commission obtains information
required to be kept through this collection, it would protect
proprietary information in accordance with the Freedom of Information
Act and 17 CFR part 145, ``Commission Records and Information.'' In
addition, Section 8(a)(1) of the CEA strictly prohibits the Commission,
unless specifically authorized by the CEA, from making public ``data
and information that would separately disclose the business
transactions or market positions of any person and trade secrets or
names of customers.'' \4\ The Commission is also required to protect
certain information contained in a government system of records
according to the Privacy Act of 1974, 5 U.S.C. 552a.
---------------------------------------------------------------------------
\4\ 7 U.S.C. 12(a)(1).
---------------------------------------------------------------------------
Burden Statement: The respondent burden for this collection is
estimated to be 10 minutes per response. This estimate includes the
time to prepare the written or electronic confirmation to an oral book-
out agreement. The Commission estimates the average burden of this
collection of information as follows:
---------------------------------------------------------------------------
\5\ Cost per response: .166 x $100, Average: 1.5 x .166 x $100.
The Commission estimates that entities will spend $100 per hour. The
$100 per hour estimate was used as the average hourly wage rate in
the PRA section of the Internal Business Conduct Standards for Swap
Dealers and Major Swap Participants final rule (See 77 FR 20128,
20194) and the wage rate for Chief Compliance Officers under the
Derivatives Clearing Organization final rules (See 76 FR 69344,
69428). As the Commission explained in the Internal Business Conduct
Standards final rule, the estimate of $100 per hour was based on
recent Bureau of Labor Statistics findings, including the mean
hourly wage of an employee under occupation code 23-1011,
``Lawyers,'' that is employed by the ``Securities and Commodity
Contracts Intermediation and Brokerage Industry,'' which is $82.22.
The mean hourly wage of an employee under occupation code 11-3031,
``Financial Manager,'' in the same industry is $74.41. Additionally,
SIFMA's ``Report on Management & Professional Earnings in the
Securities Industry--2010'' estimates the average wage of a
compliance attorney and a compliance staffer in the U.S. at only
$46.31 per hour. As in those rules, the Commission is using a $100
per hour wage rate in calculating the cost burdens imposed by this
collection of information and requests comment on the accuracy of
its estimate.
\6\ Total number of hours arrived by multiplying the average
number of responses, [(30,000 + 60,000)/2] x .166 minutes = 7,470
hours.
\7\ 7,470 hours x $100 per hour = $747,000.
Estimated Annual Reporting Burden Hours
----------------------------------------------------------------------------------------------------------------
Frequency of Hours per
17 CFR Annual number response per response and Total annual Total hours
of respondents respondent cost responses cost
----------------------------------------------------------------------------------------------------------------
17 CFR Part 1............... 30,000 On occasion, 1- 10 minutes per 45,000, 7,470 (average
2 annually. response (.166 (average of 1- of 5,000-
hour), at 2 annually for 10,000 total
$16.60 per a total of hours
response.\5\ 30,000-60,000 annually; \6\
annually). $747,000,
based on $100/
hour.\7\
----------------------------------------------------------------------------------------------------------------
Respondents/Affected Entities: 30,000.
Estimated average number of responses: 45,000 [1-2 annually for a
total of 30,000-60,000 annually]
Estimated total average annual burden on respondents: 7,470 [5,000-
10,000] hours.
[[Page 49430]]
Frequency of collection: Occasionally, 1-2 annually.
Average total cost: $747,000.
There are no capital costs or operating and maintenance costs
associated with this collection. The Commission believes that, as part
of customary and usual business practices, most respondents already
create and store book-out agreements in either a written or electronic
format.
The Commission invites comments on:
Whether the proposed collection of information is
necessary for the proper performance of the functions of the
Commission, including whether the information will have a practical
use;
The accuracy of the Commission's estimate of the burden of
the proposed collection of information, including the validity of the
methodology and assumptions used;
Ways to enhance the quality, usefulness, and clarity of
the information to be collected; and
Ways to minimize the burden of collection of information
on those who are to respond, including through the use of appropriate
automated electronic, mechanical, or other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses.
Dated: August 13, 2012.
Sauntia Warfield,
Assistant Secretary of the Commission.
[FR Doc. 2012-20123 Filed 8-15-12; 8:45 am]
BILLING CODE P