Proposed Collection; Comment Request, 36607 [2013-14420]
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Federal Register / Vol. 78, No. 117 / Tuesday, June 18, 2013 / Notices
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of 10 minutes per document to draft the
requisite disclosure statement.
The staff estimates that there are 2866
publicly offered Canadian funds that
potentially would rely on the rule to
offer securities to participants and sell
securities to their Canadian retirement
accounts without registering under the
Investment Company Act.5 The staff
estimates that all of these funds have
previously relied upon the rule and
have already made the one-time change
to their offering documents required to
rely on the rule. The staff estimates that
143 (5 percent) additional Canadian
funds may newly rely on the rule each
year to offer securities to Canadian-U.S.
Participants and sell securities to their
Canadian retirement accounts, thus
incurring the paperwork burden
required under the rule. The staff
estimates that each of those funds, on
average, distributes 3 different written
offering documents concerning those
securities, for a total of 429 offering
documents. The staff therefore estimates
that 143 respondents would make 429
responses by adding the new disclosure
statement to 429 written offering
documents. The staff therefore estimates
that the annual burden associated with
the rule 7d–2 disclosure requirement
would be 71.5 hours (429 offering
documents × 10 minutes per document).
The total annual cost of these burden
hours is estimated to be $27,099 (71.5
hours × $379 per hour of attorney
time).6
These burden hour estimates are
based upon the Commission staff’s
experience and discussions with the
fund industry. The estimates of average
burden hours are made solely for the
purposes of the Paperwork Reduction
Act. These estimates are not derived
from a comprehensive or even a
representative survey or study of the
costs of Commission rules.
Compliance with the collection of
information requirements of the rule is
mandatory and is necessary to comply
with the requirements of the rule in
general. 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.
5 Investment Company Institute, 2013 Investment
Company Fact Book (2013) at 202, tbl. 61.
6 The Commission’s estimate concerning the wage
rate for attorney time is based on salary information
for the securities industry compiled by the
Securities Industry and Financial Markets
Association (‘‘SIFMA’’). The $379 per hour figure
for an attorney is from SIFMA’s Management &
Professional Earnings in the Securities Industry
2012, modified by Commission staff to account for
an 1800-hour work-year and multiplied by 5.35 to
account for bonuses, firm size, employee benefits,
and overhead.
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Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the Commission,
including whether the information has
practical utility; (b) the accuracy of the
Commission’s estimate of the burdens of
the collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burdens 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 in
comments and suggestions submitted in
writing within 60 days of this
publication.
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, VA 22312; or send an email
to: PRA_Mailbox@sec.gov.
Dated: June 13, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–14451 Filed 6–17–13; 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.
Extension:
Rule 15Bc3–1and Form MSDW.
SEC File No. 270–93, OMB Control No.
3235–0087
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’)(44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
provided for in Rule 15Bc3–1 (17 CFR
15Bc3–1) and Form MSDW (17 CFR
249.1110) 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.
Rule 15Bc3–1 provides that a notice
of withdrawal from registration with the
Commission as a bank municipal
securities dealer must be filed on Form
MSDW. The Commission uses the
information submitted on Form MSDW
PO 00000
Frm 00102
Fmt 4703
Sfmt 4703
36607
in determining whether it is in the
public interest to permit a bank
municipal securities dealer to withdraw
its registration. This information is also
important to the municipal securities
dealer’s customers and to the public,
because it provides, among other things,
the name and address of a person to
contact regarding any of the municipal
securities dealer’s unfinished business.
Based upon past submissions, the
staff estimates that, on an annual basis,
approximately three bank municipal
securities dealers will file a notice of
withdrawal from registration with the
Commission as a bank municipal
securities dealer on Form MSDW. The
staff estimates that the average number
of hours necessary to comply with the
notice requirements set out in Rule
15Bc3–1 and Form MSDW is 0.5 per
respondent, for a total burden of 1.5
hours per year. The staff estimates that
the average internal compliance cost per
hour is approximately $310. Therefore,
the estimated total cost of compliance
for the respondents is approximately
$465.
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 will have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of the 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.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA 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, VA 22312, or send an email
to: PRA_Mailbox@sec.gov.
Dated: June 12, 2013.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–14420 Filed 6–17–13; 8:45 am]
BILLING CODE 8011–01–P
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[Federal Register Volume 78, Number 117 (Tuesday, June 18, 2013)]
[Notices]
[Page 36607]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14420]
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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 15Bc3-1and Form MSDW.
SEC File No. 270-93, OMB Control No. 3235-0087
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (``PRA'')(44 U.S.C. 3501 et seq.), the Securities and
Exchange Commission (``Commission'') is soliciting comments on the
collection of information provided for in Rule 15Bc3-1 (17 CFR 15Bc3-1)
and Form MSDW (17 CFR 249.1110) 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.
Rule 15Bc3-1 provides that a notice of withdrawal from registration
with the Commission as a bank municipal securities dealer must be filed
on Form MSDW. The Commission uses the information submitted on Form
MSDW in determining whether it is in the public interest to permit a
bank municipal securities dealer to withdraw its registration. This
information is also important to the municipal securities dealer's
customers and to the public, because it provides, among other things,
the name and address of a person to contact regarding any of the
municipal securities dealer's unfinished business.
Based upon past submissions, the staff estimates that, on an annual
basis, approximately three bank municipal securities dealers will file
a notice of withdrawal from registration with the Commission as a bank
municipal securities dealer on Form MSDW. The staff estimates that the
average number of hours necessary to comply with the notice
requirements set out in Rule 15Bc3-1 and Form MSDW is 0.5 per
respondent, for a total burden of 1.5 hours per year. The staff
estimates that the average internal compliance cost per hour is
approximately $310. Therefore, the estimated total cost of compliance
for the respondents is approximately $465.
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 will
have practical utility; (b) the accuracy of the Commission's estimate
of the burden of the 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.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA 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
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312, or send an
email to: PRA_Mailbox@sec.gov.
Dated: June 12, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-14420 Filed 6-17-13; 8:45 am]
BILLING CODE 8011-01-P
