Proposed Collection; Comment Request, 10218 [2013-03272]

Download as PDF 10218 Federal Register / Vol. 78, No. 30 / Wednesday, February 13, 2013 / Notices 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. Comments should be directed 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: February 7, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–03271 Filed 2–12–13; 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. mstockstill on DSK4VPTVN1PROD with NOTICES Extension: Rule 15b1–1/Form BD; SEC File No. 270– 19, OMB Control No. 3235–0012. 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 collection of information provided for in Rule 15b1–1 (17 CFR 240.15b1–1) and Form BD (17 CFR 249.501) under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Form BD is the application form used by firms to apply to the Commission for registration as a broker-dealer, as required by Rule 15b1–1. Form BD also is used by firms other than banks and registered broker-dealers to apply to the Commission for registration as a municipal securities dealer or a government securities broker-dealer. In addition, Form BD is used to change information contained in a previous Form BD filing that becomes inaccurate. The total industry-wide annual time burden imposed by Form BD is approximately 5,941 hours, based on approximately 15,890 responses (288 initial filings + 15,602 amendments). Each application filed on Form BD requires approximately 2.75 hours to complete and each amended Form BD VerDate Mar<15>2010 17:21 Feb 12, 2013 Jkt 229001 requires approximately 20 minutes to complete. (288 × 2.75 hours = 792 hours; 15,602 × 0.33 hours = 5,149 hours; 792 hours + 5,149 hours = 5,941 hours.) The staff believes that a brokerdealer would have a Compliance Manager complete and file both applications and amendments on Form BD at a cost of $279/hour. Consequently, the staff estimates that the total internal cost of compliance associated with the annual time burden is approximately $1,657,539 per year ($279 × 5941). There is no external cost burden associated with Rule 15b1–1 and Form BD. The Commission uses the information disclosed by applicants in Form BD: (1) To determine whether the applicant meets the standards for registration set forth in the provisions of the Exchange Act; (2) to develop a central information resource where members of the public may obtain relevant, up-to-date information about broker-dealers, municipal securities dealers and government securities broker-dealers, and where the Commission, other regulators and SROs may obtain information for investigatory purposes in connection with securities litigation; and (3) to develop statistical information about broker-dealers, municipal securities dealers and government securities broker-dealers. Without the information disclosed in Form BD, the Commission could not effectively implement policy objectives of the Exchange Act with respect to its investor protection function. 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 estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information 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. PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 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: February 7, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–03272 Filed 2–12–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–68864; File No. S7–27–11] Order Extending Temporary Exemptions Under the Securities Exchange Act of 1934 in Connection With the Revision of the Definition of ‘‘Security’’ to Encompass SecurityBased Swaps, and Request for Comment February 7, 2013. I. Introduction On July 1, 2011, the Securities and Exchange Commission (‘‘Commission’’) issued an order granting temporary exemptive relief from compliance with certain provisions of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) in connection with the revision of the Exchange Act definition of ‘‘security’’ to encompass security-based swaps (‘‘Exchange Act Exemptive Order’’).1 Certain temporary exemptions contained in the Exchange Act Exemptive Order are set to expire upon the compliance date for final rules further defining the terms ‘‘securitybased swap’’ and ‘‘eligible contract participant,’’ which is scheduled to occur on February 11, 2013 (‘‘Expiring Temporary Exemptions’’).2 The 1 See Order Granting Temporary Exemptions under the Securities Exchange Act of 1934 in Connection with the Pending Revisions of the Definition of ‘‘Security’’ to Encompass SecurityBased Swaps, Exchange Act Release No. 64795 (Jul. 1, 2011), 76 FR 39927 (Jul. 7, 2011). 2 Id. See also Further Definition of ‘‘Swap,’’ ‘‘Security-Based Swap,’’ and ‘‘Security-Based Swap Agreement’’; Mixed Swaps; Security-Based Swap Agreement Recordkeeping, Exchange Act Release No. 67453 (Jul. 18, 2012), 77 FR 48207 (Aug. 13, 2012) (Joint Final Rule with the CFTC) (‘‘Product Definitions Adopting Release’’), which postpones the Expiring Temporary Exemptions expiration date to February 11, 2013. The Financial Industry Regulatory Authority (‘‘FINRA’’) filed a proposed rule change, which was effective upon receipt by the Commission, extending the expiration date of FINRA Rule 0180 (Application of Rules to SecurityBased Swaps), which temporary limits the application of certain FINRA rules with respect to security-based swaps, to July 17, 2013. See SelfRegulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and E:\FR\FM\13FEN1.SGM 13FEN1

Agencies

[Federal Register Volume 78, Number 30 (Wednesday, February 13, 2013)]
[Notices]
[Page 10218]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-03272]


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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.

Extension:
    Rule 15b1-1/Form BD; SEC File No. 270-19, OMB Control No. 3235-
0012.

    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 
collection of information provided for in Rule 15b1-1 (17 CFR 240.15b1-
1) and Form BD (17 CFR 249.501) under the Securities Exchange Act of 
1934 (17 U.S.C. 78a et seq.). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    Form BD is the application form used by firms to apply to the 
Commission for registration as a broker-dealer, as required by Rule 
15b1-1. Form BD also is used by firms other than banks and registered 
broker-dealers to apply to the Commission for registration as a 
municipal securities dealer or a government securities broker-dealer. 
In addition, Form BD is used to change information contained in a 
previous Form BD filing that becomes inaccurate.
    The total industry-wide annual time burden imposed by Form BD is 
approximately 5,941 hours, based on approximately 15,890 responses (288 
initial filings + 15,602 amendments). Each application filed on Form BD 
requires approximately 2.75 hours to complete and each amended Form BD 
requires approximately 20 minutes to complete. (288 x 2.75 hours = 792 
hours; 15,602 x 0.33 hours = 5,149 hours; 792 hours + 5,149 hours = 
5,941 hours.) The staff believes that a broker-dealer would have a 
Compliance Manager complete and file both applications and amendments 
on Form BD at a cost of $279/hour. Consequently, the staff estimates 
that the total internal cost of compliance associated with the annual 
time burden is approximately $1,657,539 per year ($279 x 5941). There 
is no external cost burden associated with Rule 15b1-1 and Form BD.
    The Commission uses the information disclosed by applicants in Form 
BD: (1) To determine whether the applicant meets the standards for 
registration set forth in the provisions of the Exchange Act; (2) to 
develop a central information resource where members of the public may 
obtain relevant, up-to-date information about broker-dealers, municipal 
securities dealers and government securities broker-dealers, and where 
the Commission, other regulators and SROs may obtain information for 
investigatory purposes in connection with securities litigation; and 
(3) to develop statistical information about broker-dealers, municipal 
securities dealers and government securities broker-dealers. Without 
the information disclosed in Form BD, the Commission could not 
effectively implement policy objectives of the Exchange Act with 
respect to its investor protection function.
    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 
estimate of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
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: February 7, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-03272 Filed 2-12-13; 8:45 am]
BILLING CODE 8011-01-P
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