Submission for OMB Review; Comment Request, 71461-71462 [2012-28948]

Download as PDF Federal Register / Vol. 77, No. 231 / Friday, November 30, 2012 / Notices 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 collection at the following Web site 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 email 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. Dated: November 26, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–28949 Filed 11–29–12; 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. wreier-aviles on DSK5TPTVN1PROD with NOTICES Extension: Regulation R, Rule 701; SEC File No. 270–562, OMB Control No. 3235– 0624. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in Regulation R, Rule 701 (17 CFR 247.701) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Regulation R, Rule 701 requires a broker or dealer (as part of a written agreement between the bank and the broker or dealer) to notify the bank if the broker or dealer makes certain determinations regarding the financial status of the customer, a bank employee’s statutory disqualification status, and compliance with suitability or sophistication standards. VerDate Mar<15>2010 15:17 Nov 29, 2012 Jkt 229001 The Commission estimates that brokers or dealers would, on average, notify 1,000 banks approximately two times annually about a determination regarding a customer’s high net worth or institutional status or suitability or sophistication standing as well as a bank employee’s statutory disqualification status. Based on these estimates, the Commission anticipates that Regulation R, Rule 701 would result in brokers or dealers making approximately 2,000 notices to banks per year. The Commission further estimates (based on the level of difficulty and complexity of the applicable activities) that a broker or dealer would spend approximately 15 minutes per notice to a bank. Therefore, the estimated total annual third party disclosure burden for the requirements in Regulation R, Rule 701 is 500 1 hours for brokers or dealers. 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. Background documentation for this information collection may be viewed at the following Web site: 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 email 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, Virginia 22312 or send an email to PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 26, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–28950 Filed 11–29–12; 8:45 am] BILLING CODE 8011–01–P 1 (2000 notices × 15 minutes) = 30,000 minutes/ 60 minutes = 500 hours. PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 71461 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 ADV–E. OMB Control No. 3235–0361, SEC File No. 270–318. 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 (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Form ADV–E (17 CFR 279.8) is the cover sheet for certificates of accounting filed pursuant to rule 206(4)–2 under the Investment Advisers Act of 1940 (17 CFR 275.206(4)–2). The rule further requires that the public accountant file with the Commission a Form ADV–E and accompanying statement within four business days of the resignation, dismissal, removal or other termination of its engagement. The annual burden is approximately three minutes per respondent. The estimate of burden hours set forth above is made solely for the purposes of the Paperwork Reduction Act and is not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. The information provided on Form ADV–E is mandatory. Responses will not be kept confidential. An agency 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. The public may view the background documentation for this information collection at the following Web site www.reginfo.gov. Please direct general comments regarding the above information to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or email 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 E:\FR\FM\30NON1.SGM 30NON1 71462 Federal Register / Vol. 77, No. 231 / Friday, November 30, 2012 / Notices to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: November 26, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–28948 Filed 11–29–12; 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 20549–0213. wreier-aviles on DSK5TPTVN1PROD with NOTICES Extension: Rule 17a–12/Form X–17A–5IIB. OMB Control No. 3235–0498, SEC File No. 270–442. 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 17a–12 (17 CFR 240.17a–12) and Part IIB of Form X– 17A–5 (17 CFR 249.617) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 17a–12 is the reporting rule tailored specifically for over-the-counter (‘‘OTC’’) derivatives dealers registered with the Commission, and Part IIB of Form X–17A–5, the Financial and Operational Combined Uniform Single (‘‘FOCUS’’) Report, is the basic document for reporting the financial and operational condition of OTC derivatives dealers. Rule 17a–12 requires registered OTC derivatives dealers to file Part IIB of the FOCUS Report quarterly. Rule 17a–12 also requires that OTC derivatives dealers file audited financial statements annually. There are currently four registered OTC derivatives dealers. The staff expects that one additional firm will register as an OTC derivatives dealer within the next three years. The staff estimates that the average amount of time necessary to prepare and file the quarterly reports required by the rule is eighty hours per OTC derivatives dealer 1 and that the average amount of 1 Based upon an average of 4 responses per year and an average of 20 hours spent preparing each response. VerDate Mar<15>2010 15:17 Nov 29, 2012 Jkt 229001 time to prepare and file the annual audit report is 100 hours per OTC derivatives dealer per year, for a total reporting burden of 180 hours per OTC derivatives dealer annually. Thus the staff estimates that the total industrywide reporting burden to comply with the requirements of Rule 17a–12 is 900 hours per year (180 x 5). Further, the Commission estimates that the total internal compliance cost associated with this requirement is approximately $250,000 per year.2 The Commission previously estimated that there were no external annualized costs associated with Rule 17a–12. However, the cost associated with an independent accountant’s examination of the financial statements OTC derivatives dealers file with the Commission should have been included in prior submissions. For purposes of the reporting burden for Rule 17a–5 under the Exchange Act (17 CFR 240.17a–5), the Commission estimated that the average annual reporting cost per broker-dealer for an independent public accountant to examine the financial statements was approximately $46,300 per broker-dealer. Based on this estimate, the total industry-wide annual reporting cost would be approximately $231,500 ($46,300 × 5). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper 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. 2 Based on staff experience, an OTC derivatives dealer likely would have a Compliance Manager gather the necessary information and prepare and file the quarterly reports and annual audit report and supporting schedules. According to the Securities Industry and Financial Markets Association Report on Management and Professional Earnings in the Securities Industry dated October 2011, which provides base salary and bonus information for middle-management and professional positions within the securities industry, the hourly cost of a compliance manager, which the Commission staff has modified to account for an 1800-hour work year and multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead, is approximately $279/hour. $279 times 900 hours = $251,100. PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 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: November 26, 2012. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–28946 Filed 11–29–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 30280; 812–14026] Blackstone Alternative Alpha Fund, et al.; Notice of Application November 26, 2012. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an exemption from sections 18(c) and 18(i) of the Act and for an order pursuant to section 17(d) of the Act and rule 17d– 1 under the Act. AGENCY: Summary of Application: Applicants request an order to permit certain registered closed-end management investment companies to issue multiple classes of shares of beneficial interest (‘‘Shares’’) and to impose asset-based service and/or distribution fees and contingent deferred sales loads (‘‘CDSCs’’). APPLICANTS: Blackstone Alternative Alpha Fund (the ‘‘Feeder Fund’’), Blackstone Alternative Alpha Master Fund (the ‘‘Master Fund’’), Blackstone Alternative Asset Management L.P. (the ‘‘Adviser’’) and Blackstone Advisory Partners L.P. (the ‘‘Distributor’’). DATES: Filing Dates: The application was filed on April 13, 2012, and amended on September 19, 2012. HEARING OR NOTIFICATION OF HEARING: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission’s Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests SUMMARY: E:\FR\FM\30NON1.SGM 30NON1

Agencies

[Federal Register Volume 77, Number 231 (Friday, November 30, 2012)]
[Notices]
[Pages 71461-71462]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28948]


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

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 ADV-E. OMB Control No. 3235-0361, SEC File No. 270-
318.

    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 (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    Form ADV-E (17 CFR 279.8) is the cover sheet for certificates of 
accounting filed pursuant to rule 206(4)-2 under the Investment 
Advisers Act of 1940 (17 CFR 275.206(4)-2). The rule further requires 
that the public accountant file with the Commission a Form ADV-E and 
accompanying statement within four business days of the resignation, 
dismissal, removal or other termination of its engagement. The annual 
burden is approximately three minutes per respondent.
    The estimate of burden hours set forth above is made solely for the 
purposes of the Paperwork Reduction Act and is not derived from a 
comprehensive or even representative survey or study of the cost of 
Commission rules and forms.
    The information provided on Form ADV-E is mandatory. Responses will 
not be kept confidential. An agency 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.
    The public may view the background documentation for this 
information collection at the following Web site www.reginfo.gov. 
Please direct general comments regarding the above information to the 
following persons: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Management and Budget, Room 10102, New Executive 
Office Building, Washington, DC 20503 or email 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 email

[[Page 71462]]

to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 
days of this notice.

    Dated: November 26, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28948 Filed 11-29-12; 8:45 am]
BILLING CODE 8011-01-P
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