Proposed Collection; Comment Request, 52808-52809 [2013-20679]

Download as PDF 52808 Federal Register / Vol. 78, No. 165 / Monday, August 26, 2013 / Notices 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. ehiers on DSK2VPTVN1PROD with NOTICES Extension: Form N–2; SEC File No. 270–21, OMB Control No. 3235–0026. 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 collections of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. The title for the collection of information is ‘‘Form N–2 (17 CFR 239.14 and 274.11a-1) under the Securities Act of 1933 and under the Investment Company Act of 1940, Registration Statement of Closed-End Management Investment Companies.’’ Form N–2 is the form used by closedend management investment companies (‘‘closed-end funds’’) to register as investment companies under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (‘‘Investment Company Act’’) and to register their securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (‘‘Securities Act’’). The primary purpose of the registration process is to provide disclosure of financial and other information to current and potential investors for the purpose of evaluating an investment in a security. Form N–2 also permits closed-end funds to provide investors with a prospectus containing information required in a registration statement prior to the sale or at the time of confirmation of delivery of securities. The form also may be used by the Commission in its regulatory review, inspection, and policy-making roles. The Commission estimates that there are 162 initial registration statements and 29 post-effective amendments to initial registration statements filed on Form N–2 annually and that the average number of portfolios referenced in each initial filing and post-effective amendment is 1. The Commission further estimates that the hour burden for preparing and filing an initial registration statement on Form N–2 is 515 hours per portfolio, and the hour burden for preparing and filing a post- VerDate Mar<15>2010 13:45 Aug 23, 2013 Jkt 229001 effective amendment on Form N–2 is 107 hours per portfolio. The estimated annual hour burden for preparing and filing initial registration statements is 83,430 hours (162 initial registration statements × 1 portfolio × 515 hours per portfolio). The estimated annual hour burden for preparing and filing posteffective amendments is 3,103 hours (29 post-effective amendments × 1 portfolio × 107 hours per portfolio). The estimated total annual hour burden for Form N–2, therefore, is estimated to be 86,533 hours (83,430 hours + 3,103 hours). The information collection requirements imposed by Form N–2 are mandatory. Responses to the collection of information 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, 100 F Street NE., Washington, DC 20549; or send an email to: PRA_ Mailbox@sec.gov. Dated: August 20, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–20681 Filed 8–23–13; 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: PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 Rule 15c3–5; SEC File No. 270–601, OMB Control No. 3235–0673. 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 15c3–5 (17 CFR 240.15c3–5) under the Securities and 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 15c3–5 under the Exchange Act requires brokers or dealers with access to trading directly on an exchange or alternative trading system (‘‘ATS’’), including those providing sponsored or direct market access to customers or other persons, to implement risk management controls and supervisory procedures reasonably designed to manage the financial, regulatory, and other risks of this business activity. The rule requires brokers or dealers to establish, document, and maintain certain risk management controls and supervisory procedures as well as regularly review such controls and procedures, and document the review, and remediate issues discovered to assure overall effectiveness of such controls and procedures. Each such broker or dealer is required to preserve a copy of its supervisory procedures and a written description of its risk management controls as part of its books and records in a manner consistent with Rule 17a–4(e)(7) under the Exchange Act. Such regular review is required to be conducted in accordance with written procedures and is required to be documented. The broker or dealer is required to preserve a copy of such written procedures, and documentation of each such review, as part of its books and records in a manner consistent with Rule 174(e)(7) under the Exchange Act, and Rule 17a–4(b) under the Exchange Act, respectively. In addition, the Chief Executive Officer (or equivalent officer) is required to certify annually that the broker or dealer’s risk management controls and supervisory procedures comply with the rule, and that the broker-dealer conducted such review. Such certifications are required to be preserved by the broker or dealer as part of its books and records in a manner consistent with Rule 17a–4(b) under the Exchange Act. Compliance with Rule 15c3–5 is mandatory. Respondents consist of broker-dealers with access to trading directly on an exchange or ATS. The Commission E:\FR\FM\26AUN1.SGM 26AUN1 Federal Register / Vol. 78, No. 165 / Monday, August 26, 2013 / Notices estimates that there are currently 870 respondents. To comply with Rule 15c3–5, these respondents will spend approximately 139,200 hours per year (160 hours per broker-dealer × 870 broker-dealers = 139,200 hours). At an average internal cost per burden hour of approximately $390.57, the resultant total related internal cost of compliance for these respondents is $54,367,170 per year (139,200 burden hours multiplied by approximately $390.57/hour). In addition, for hardware and software expenses, the Commission estimates that the average annual external cost would be approximately $20,500 per broker-dealer, or a total of $17,835,000 ($20,500 per broker-dealer × 870 brokerdealers = $17,835,000) for all respondents. 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 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, 100 F Street NE., Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: August 20, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–20679 Filed 8–23–13; 8:45 am] ehiers on DSK2VPTVN1PROD with NOTICES 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 VerDate Mar<15>2010 13:45 Aug 23, 2013 Jkt 229001 Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17f–1(g), SEC File No. 270–30, OMB Control No. 3235–0290. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501et 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 previously approved collection of information provided for in Rule 17f–1(g) (17 CFR 240.17f–1(g)), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17f–1(g) requires that all reporting institutions (i.e., every national securities exchange, member thereof, registered securities association, broker, dealer, municipal securities dealer, registered transfer agent, registered clearing agency, participant therein, member of the Federal Reserve System, and bank insured by the FDIC) maintain and preserve a number of documents related to their participation in the Lost and Stolen Securities Program (‘‘Program’’) under Rule 17f–1. The following documents must be kept in an easily accessible place for three years, according to paragraph (g): (1) Copies of all reports of theft or loss (Form X–17F–1A) filed with the Commission’s designee: (2) all agreements between reporting institutions regarding registration in the Program or other aspects of Rule 17f–1; and (3) all confirmations or other information received from the Commission or its designee as a result of inquiry. Reporting institutions utilize these records and reports (a) to report missing, lost, stolen or counterfeit securities to the database, (b) to confirm inquiry of the database, and (c) to demonstrate compliance with Rule 17f–1. The Commission and the reporting institutions’ examining authorities utilize these records to monitor the incidence of thefts and losses incurred by reporting institutions and to determine compliance with Rule 17f–1. If such records were not retained by reporting institutions, compliance with Rule 17f–1 could not be monitored effectively. The Commission estimates that there are approximately 24,969 reporting institutions (respondents) and, on average, each respondent would need to retain 33 records annually, with each retention requiring approximately 1 minute (a total of 33 minutes or 0.55 hours per respondent per year). Thus, the total estimated annual time burden PO 00000 Frm 00052 Fmt 4703 Sfmt 9990 52809 for all respondents is 13,733 hours (24,969 × 0.55 hours = 13,733). Assuming an average hourly cost for clerical work of $50.00, the average total yearly record retention cost of compliance for each respondent would be $27.50 ($50 × 0.55 hours). Based on these estimates, the total annual compliance cost for the estimated 24,969 reporting institutions would be approximately $686,647 (24,969 × $27.50). Rule 17f–1(g) does not require periodic collection, but it does require retention of records generated as a result of compliance with Rule 17f–1. Under Section 17(b) and (f) of the Act, the information required by Rule 17f–1(g) is available to the Commission and Federal bank regulators for examinations or collection purposes. Rule 0–4 of the Securities Exchange Act deems such information to be confidential. 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. The public may view 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, 100 F Street NE., Washington, DC 20549 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: August 20, 2013. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–20680 Filed 8–23–13; 8:45 am] BILLING CODE 8011–01–P E:\FR\FM\26AUN1.SGM 26AUN1

Agencies

[Federal Register Volume 78, Number 165 (Monday, August 26, 2013)]
[Notices]
[Pages 52808-52809]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-20679]


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

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 15c3-5; SEC File No. 270-601, OMB Control No. 3235-0673.

    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 15c3-5 (17 CFR 
240.15c3-5) under the Securities and 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 15c3-5 under the Exchange Act requires brokers or dealers with 
access to trading directly on an exchange or alternative trading system 
(``ATS''), including those providing sponsored or direct market access 
to customers or other persons, to implement risk management controls 
and supervisory procedures reasonably designed to manage the financial, 
regulatory, and other risks of this business activity.
    The rule requires brokers or dealers to establish, document, and 
maintain certain risk management controls and supervisory procedures as 
well as regularly review such controls and procedures, and document the 
review, and remediate issues discovered to assure overall effectiveness 
of such controls and procedures. Each such broker or dealer is required 
to preserve a copy of its supervisory procedures and a written 
description of its risk management controls as part of its books and 
records in a manner consistent with Rule 17a-4(e)(7) under the Exchange 
Act. Such regular review is required to be conducted in accordance with 
written procedures and is required to be documented. The broker or 
dealer is required to preserve a copy of such written procedures, and 
documentation of each such review, as part of its books and records in 
a manner consistent with Rule 174(e)(7) under the Exchange Act, and 
Rule 17a-4(b) under the Exchange Act, respectively.
    In addition, the Chief Executive Officer (or equivalent officer) is 
required to certify annually that the broker or dealer's risk 
management controls and supervisory procedures comply with the rule, 
and that the broker-dealer conducted such review. Such certifications 
are required to be preserved by the broker or dealer as part of its 
books and records in a manner consistent with Rule 17a-4(b) under the 
Exchange Act. Compliance with Rule 15c3-5 is mandatory.
    Respondents consist of broker-dealers with access to trading 
directly on an exchange or ATS. The Commission

[[Page 52809]]

estimates that there are currently 870 respondents. To comply with Rule 
15c3-5, these respondents will spend approximately 139,200 hours per 
year (160 hours per broker-dealer x 870 broker-dealers = 139,200 
hours). At an average internal cost per burden hour of approximately 
$390.57, the resultant total related internal cost of compliance for 
these respondents is $54,367,170 per year (139,200 burden hours 
multiplied by approximately $390.57/hour). In addition, for hardware 
and software expenses, the Commission estimates that the average annual 
external cost would be approximately $20,500 per broker-dealer, or a 
total of $17,835,000 ($20,500 per broker-dealer x 870 broker-dealers = 
$17,835,000) for all respondents.
    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 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, 100 F Street NE., Washington, DC 20549, or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: August 20, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-20679 Filed 8-23-13; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.