Submission for OMB Review; Comment Request, 22922-22923 [2013-08975]
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Federal Register / Vol. 78, No. 74 / Wednesday, April 17, 2013 / Notices
annual burden of 937,251 hours for this
collection of information.
Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information will have
practical utility; (b) the accuracy of the
agency’s estimate of the burden of the
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. 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.
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, VA 22312; or send an email
to: PRA_Mailbox@sec.gov.
Dated: April 11, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–08978 Filed 4–16–13; 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.
sroberts on DSK5SPTVN1PROD with NOTICES
Extension:
Rule 6a–3. SEC File No. 270–0015, OMB
Control No. 3235–0021.
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’’) is soliciting comments
on the existing collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
VerDate Mar<15>2010
16:50 Apr 16, 2013
Jkt 229001
Section 6 of the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.)
(‘‘Act’’) sets out a framework for the
registration and regulation of national
securities exchanges. Under Rule 6a–3
(17 CFR 240.6a–3), one of the rules that
implements Section 6, a national
securities exchange (or an exchange
exempted from registration as a national
securities exchange based on limited
trading volume) must provide certain
supplemental information to the
Commission, including any material
(including notices, circulars, bulletins,
lists, and periodicals) issued or made
generally available to members of, or
participants or subscribers to, the
exchange. Rule 6a–3 also requires the
exchanges to file monthly reports that
set forth the volume and aggregate
dollar amount of securities sold on the
exchange each month.
The information required to be filed
with the Commission pursuant to Rule
6a–3 is designed to enable the
Commission to carry out its statutorily
mandated oversight functions and to
ensure that registered and exempt
exchanges continue to be in compliance
with the Act.
The Commission estimates that each
respondent makes approximately 25
such filings on an annual basis at an
average cost of approximately $52.50
per response. Currently, 19 respondents
(17 national securities exchanges and
two exempt exchanges) are subject to
the collection of information
requirements of Rule 6a–3. The
Commission estimates that the total
burden for all respondents is 237.5
hours (25 filings/respondent per year ×
0.5 hours/response × 19 respondents)
and $24,937.50 ($52.50/response × 25
responses/respondent per year × 19
respondents) per year.
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 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.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
PO 00000
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unless it displays a currently 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: April 12, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013–08994 Filed 4–16–13; 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: Rule 0–4.
OMB Control No. 3235–0633, SEC File No.
270–569.
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’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this collection of
information to the Office of
Management and Budget for extension
and approval.
Rule 0–4 (17 CFR 275.0–4) under the
Investment Advisers Act of 1940 (‘‘Act’’
or ‘‘Advisers Act’’) (15 U.S.C. 80b-1 et
seq.) entitled ‘‘General Requirements of
Papers and Applications,’’ prescribes
general instructions for filing an
application seeking exemptive relief
with the Commission. Rule 0–4
currently requires that every application
for an order for which a form is not
specifically prescribed and which is
executed by a corporation, partnership
or other company and filed with the
Commission contain a statement of the
applicable provisions of the articles of
incorporation, bylaws or similar
documents, relating to the right of the
person signing and filing such
application to take such action on behalf
of the applicant, and a statement that all
such requirements have been complied
with and that the person signing and
filing the application is fully authorized
to do so. If such authorization is
dependent on resolutions of
stockholders, directors, or other bodies,
such resolutions must be attached as an
E:\FR\FM\17APN1.SGM
17APN1
sroberts on DSK5SPTVN1PROD with NOTICES
Federal Register / Vol. 78, No. 74 / Wednesday, April 17, 2013 / Notices
exhibit to or quoted in the application.
Any amendment to the application must
contain a similar statement as to the
applicability of the original statement of
authorization. When any application or
amendment is signed by an agent or
attorney, rule 0–4 requires that the
power of attorney evidencing his
authority to sign shall state the basis for
the agent’s authority and shall be filed
with the Commission. Every application
subject to rule 0–4 must be verified by
the person executing the application by
providing a notarized signature in
substantially the form specified in the
rule. Each application subject to rule 0–
4 must state the reasons why the
applicant is deemed to be entitled to the
action requested with a reference to the
provisions of the Act and rules
thereunder, the name and address of
each applicant, and the name and
address of any person to whom any
questions regarding the application
should be directed. Rule 0–4 requires
that a proposed notice of the proceeding
initiated by the filing of the application
accompany each application as an
exhibit and, if necessary, be modified to
reflect any amendment to the
application.
The requirements of rule 0–4 are
designed to provide Commission staff
with the necessary information to assess
whether granting the orders of
exemption are necessary and
appropriate in the public interest and
consistent with the protection of
investors and the intended purposes of
the Act.
Applicants for orders under the
Advisers Act can include registered
investment advisers, affiliated persons
of registered investment advisers, and
entities seeking to avoid investment
adviser status, among others.
Commission staff estimates that it
receives up to 9 applications per year
submitted under rule 0–4 of the Act
seeking relief from various provisions of
the Advisers Act and, in addition, up to
7 applications per year submitted under
Advisers Act rule 206(4)-5, which
addresses certain ‘‘pay to play’’
practices and also provides the
Commission the authority to grant
applications seeking relief from certain
of the rule’s restrictions. Although each
application typically is submitted on
behalf of multiple applicants, the
applicants in the vast majority of cases
are related entities and are treated as a
single respondent for purposes of this
analysis. Most of the work of preparing
an application is performed by outside
counsel and, therefore, imposes no
hourly burden on respondents. The cost
outside counsel charges applicants
depends on the complexity of the issues
VerDate Mar<15>2010
16:50 Apr 16, 2013
Jkt 229001
covered by the application and the time
required. Based on conversations with
applicants and attorneys, and recent
analyses by the Commission,1 the cost
for applications ranges from
approximately $12,800 for preparing a
well-precedented, routine (or otherwise
less involved) application to
approximately $200,000 to prepare a
complex or novel application. We
estimate that the Commission receives 2
of the most time-consuming
applications annually, 4 applications of
medium difficulty, and 10 of the least
difficult applications subject to rule 0–
4.2 This distribution gives a total
estimated annual cost burden to
applicants of filing all applications of
$702,000 [(2x$200,000) + (4x$43,500) +
(10x$12,800)]. The estimate of annual
cost burden 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 costs of
Commission rules and forms.
The requirements of this collection of
information are required to obtain or
retain benefits. Responses will not be
kept confidential. 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.
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 will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the 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
1 See Family Offices, Investment Advisers Act
Release No. 3220 (June 22, 2011), at section IV.A
(‘‘We estimate that a typical family office will incur
legal fees of $200,000 on average to engage in the
exemptive order application process, including
preparation and revision of an application and
consultations with Commission staff.’’) Although
the Commission may receive fewer exemptive
applications from family offices in light of rule
202(a)(11)(G)-1, which defines family offices that
are now excluded from regulation under the
Advisers Act, the costs to prepare family office
applications may be representative of the costs
required to prepare other more complex and novel
applications. See also Political Contributions by
Certain Investment Advisers, Investment Advisers
Act Release No. 3043 (July 1, 2010), at section V.D.
(estimating that applications filed under Advisers
Act rule 206(4)-5 ‘‘will cost approximately
$12,800’’).
2 The estimated 10 least difficult applications
include the estimated 7 applications per year
submitted under Advisers Act rule 206(4)-5. The
Commission previously estimated that these
applications will cost approximately $12,800 each.
Id.
PO 00000
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Fmt 4703
Sfmt 4703
22923
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.
Please direct your written comments
to Thomas Bayer, Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
6432 General Green Way, Alexandria,
VA 22312; or send an email to:
PRA_Mailbox@sec.gov.
Dated: April 11, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–08975 Filed 4–16–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69362; File No. 600–23]
Self-Regulatory Organizations; Fixed
Income Clearing Corporation; Notice of
Filing of Amended Application for
Registration as a Clearing Agency
April 11, 2013.
I. Introduction
On April 5, 2013, the Fixed Income
Clearing Corporation (‘‘FICC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) an
amended Form CA–1 1 seeking
permanent registration as a clearing
agency under Section 17A of the
Securities Exchange Act of 1934 2
(‘‘Act’’) and Rule 17Ab2–1 thereunder.3
The Commission is publishing this
notice to solicit comments from
interested persons regarding this
amended Form CA–1.4 The Commission
will consider any comments it receives
in making its determination whether to
grant FICC’s request for permanent
registration as a clearing agency. The
Commission will grant FICC permanent
registration only if it concludes that
1 See Letter from Donaldine Temple, Senior
Associate Counsel and Corporate Secretary, FICC, to
Joseph P. Kamnik, Assistant Director, Division of
Trading and Markets (April 4, 2013). The
amendment filed by FICC updates all of the
information required by Form CA–1 and
incorporates by reference all information submitted
in connection with FICC’s prior application and
amendments thereto, to the extent this previously
submitted information remains accurate.
2 15 U.S.C. 78q–1.
3 17 CFR 240.17Ab2–1(a).
4 The descriptions set forth in this notice
regarding the structure and operations of FICC have
been largely derived from information contained in
FICC’s amended Form CA–1 application and
publicly available sources. The application and
non-confidential exhibits thereto are available on
the Commission’s Web site.
E:\FR\FM\17APN1.SGM
17APN1
]]>Agencies
[Federal Register Volume 78, Number 74 (Wednesday, April 17, 2013)]
[Notices]
[Pages 22922-22923]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-08975]
-----------------------------------------------------------------------
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: Rule 0-4.
OMB Control No. 3235-0633, SEC File No. 270-569.
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'') is soliciting comments on the
collection of information summarized below. The Commission plans to
submit this collection of information to the Office of Management and
Budget for extension and approval.
Rule 0-4 (17 CFR 275.0-4) under the Investment Advisers Act of 1940
(``Act'' or ``Advisers Act'') (15 U.S.C. 80b-1 et seq.) entitled
``General Requirements of Papers and Applications,'' prescribes general
instructions for filing an application seeking exemptive relief with
the Commission. Rule 0-4 currently requires that every application for
an order for which a form is not specifically prescribed and which is
executed by a corporation, partnership or other company and filed with
the Commission contain a statement of the applicable provisions of the
articles of incorporation, bylaws or similar documents, relating to the
right of the person signing and filing such application to take such
action on behalf of the applicant, and a statement that all such
requirements have been complied with and that the person signing and
filing the application is fully authorized to do so. If such
authorization is dependent on resolutions of stockholders, directors,
or other bodies, such resolutions must be attached as an
[[Page 22923]]
exhibit to or quoted in the application. Any amendment to the
application must contain a similar statement as to the applicability of
the original statement of authorization. When any application or
amendment is signed by an agent or attorney, rule 0-4 requires that the
power of attorney evidencing his authority to sign shall state the
basis for the agent's authority and shall be filed with the Commission.
Every application subject to rule 0-4 must be verified by the person
executing the application by providing a notarized signature in
substantially the form specified in the rule. Each application subject
to rule 0-4 must state the reasons why the applicant is deemed to be
entitled to the action requested with a reference to the provisions of
the Act and rules thereunder, the name and address of each applicant,
and the name and address of any person to whom any questions regarding
the application should be directed. Rule 0-4 requires that a proposed
notice of the proceeding initiated by the filing of the application
accompany each application as an exhibit and, if necessary, be modified
to reflect any amendment to the application.
The requirements of rule 0-4 are designed to provide Commission
staff with the necessary information to assess whether granting the
orders of exemption are necessary and appropriate in the public
interest and consistent with the protection of investors and the
intended purposes of the Act.
Applicants for orders under the Advisers Act can include registered
investment advisers, affiliated persons of registered investment
advisers, and entities seeking to avoid investment adviser status,
among others. Commission staff estimates that it receives up to 9
applications per year submitted under rule 0-4 of the Act seeking
relief from various provisions of the Advisers Act and, in addition, up
to 7 applications per year submitted under Advisers Act rule 206(4)-5,
which addresses certain ``pay to play'' practices and also provides the
Commission the authority to grant applications seeking relief from
certain of the rule's restrictions. Although each application typically
is submitted on behalf of multiple applicants, the applicants in the
vast majority of cases are related entities and are treated as a single
respondent for purposes of this analysis. Most of the work of preparing
an application is performed by outside counsel and, therefore, imposes
no hourly burden on respondents. The cost outside counsel charges
applicants depends on the complexity of the issues covered by the
application and the time required. Based on conversations with
applicants and attorneys, and recent analyses by the Commission,\1\ the
cost for applications ranges from approximately $12,800 for preparing a
well-precedented, routine (or otherwise less involved) application to
approximately $200,000 to prepare a complex or novel application. We
estimate that the Commission receives 2 of the most time-consuming
applications annually, 4 applications of medium difficulty, and 10 of
the least difficult applications subject to rule 0-4.\2\ This
distribution gives a total estimated annual cost burden to applicants
of filing all applications of $702,000 [(2x$200,000) + (4x$43,500) +
(10x$12,800)]. The estimate of annual cost burden 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 costs of
Commission rules and forms.
---------------------------------------------------------------------------
\1\ See Family Offices, Investment Advisers Act Release No. 3220
(June 22, 2011), at section IV.A (``We estimate that a typical
family office will incur legal fees of $200,000 on average to engage
in the exemptive order application process, including preparation
and revision of an application and consultations with Commission
staff.'') Although the Commission may receive fewer exemptive
applications from family offices in light of rule 202(a)(11)(G)-1,
which defines family offices that are now excluded from regulation
under the Advisers Act, the costs to prepare family office
applications may be representative of the costs required to prepare
other more complex and novel applications. See also Political
Contributions by Certain Investment Advisers, Investment Advisers
Act Release No. 3043 (July 1, 2010), at section V.D. (estimating
that applications filed under Advisers Act rule 206(4)-5 ``will cost
approximately $12,800'').
\2\ The estimated 10 least difficult applications include the
estimated 7 applications per year submitted under Advisers Act rule
206(4)-5. The Commission previously estimated that these
applications will cost approximately $12,800 each. Id.
---------------------------------------------------------------------------
The requirements of this collection of information are required to
obtain or retain benefits. Responses will not be kept confidential. 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.
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 will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the 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.
Please direct your written comments to Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312; or send an
email to: PRA_Mailbox@sec.gov.
Dated: April 11, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08975 Filed 4-16-13; 8:45 am]
BILLING CODE 8011-01-P
