Submission for OMB Review; Comment Request, 52809 [2013-20680]

Download as PDF 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]
[Page 52809]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-20680]


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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 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 for 
all respondents is 13,733 hours (24,969 x 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 x 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 x 
$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 Pavlik-Simon, 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
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