Submission for OMB Review; Comment Request, 33789 [2014-13702]
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Federal Register / Vol. 79, No. 113 / Thursday, June 12, 2014 / Notices
quotations in a quotation medium by a
broker-dealer for over-the-counter
(‘‘OTC’’) securities. The Rule was
designed primarily to prevent certain
manipulative and fraudulent trading
schemes that had arisen in connection
with the distribution and trading of
unregistered securities issued by shell
companies or other companies having
outstanding but infrequently traded
securities. Subject to certain exceptions,
the Rule prohibits brokers-dealers from
publishing a quotation for a security, or
submitting a quotation for publication,
in a quotation medium unless they have
reviewed specified information
concerning the security and the issuer.
Based on information provided by
Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’), in the 2013
calendar year, FINRA received
approximately 1,009 applications from
broker-dealers to initiate or resume
publication of quotes of covered OTC
securities on the OTC Bulletin Board
and/or OTC Link or other quotation
mediums. We estimate that (i) 31% of
the covered OTC securities were issued
by reporting issuers, while the other
69% were issued by non-reporting
issuers, and (ii) it will take a brokerdealer about 4 hours to review, record
and retain the information pertaining to
a reporting issuer, and about 8 hours to
review, record and retain the
information pertaining to a nonreporting issuer.
We therefore estimate that brokerdealers who initiate or resume
publication of quotations for covered
OTC securities of reporting issuers will
require 1,236 hours (1,009 × 31% × 4)
to review, record and retain the
information required by the Rule. We
estimate that broker-dealers who initiate
or resume publication of quotations for
covered OTC securities of non-reporting
issuers will require 5,600 hours (1,009
× 69% × 8) to review, record and retain
the information required by the Rule.
Thus, we estimate the total annual
burden hours for broker-dealers to
initiate or resume publication of
quotations of covered OTC securities to
be 6,836 hours (1,236 + 5,600). The
Commission believes that these 6,836
hours would be borne by internal staff
working at a rate of $53 per hour.1
Subject to certain exceptions, the Rule
prohibits brokers-dealers from
publishing a quotation for a security, or
submitting a quotation for publication,
in a quotation medium unless they have
reviewed specified information
concerning the security and the issuer.
The broker-dealer must also make the
1 See Appendix C, SIFMA Office Salaries Data—
Sept. 2012 for General Clerk national hourly rate.
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information reasonably available upon
request to any person expressing an
interest in a proposed transaction in the
security with such broker or dealer. The
collection of information that is
submitted to FINRA for review and
approval is currently not available to the
public from FINRA.
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 St. NE., Washington, DC
20549; or send an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted within 30 days of this
notice.
Dates: June 6, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–13701 Filed 6–11–14; 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:
Electronic Data Collection System, SEC
File No. 270–621, OMB Control No.
3235–0672.
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 collection of information
summarized below. The Commission
plans to submit this extension for a
current collection of information to the
Office of Management and Budget for
approval. The Securities and Exchange
Commission has implemented an
Electronic Data Collection System
PO 00000
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Sfmt 9990
33789
database (the Database) and invites
comment on the Database that supports
information provided by the general
public that would like to file a tip or
complaint with the Commission. The
Database is a web based e-filed dynamic
report based on technology that prepopulates and establishes a series of
questions based on the data that the
individual enters. The individual then
completes specific information on the
subject(s) and nature of the suspicious
activity, using the data elements
appropriate to the type of complaint or
subject. There are no costs associated
with this collection. The public
interface to the Database is available
using the Tips, Complaints and
Referrals Portal. Information is provided
voluntarily.
Estimated number of annual
responses = 13,120.
Estimated annual reporting burden =
6,560 hours (30 minutes per
submission).
Written comments are invited on: (a)
Whether this 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 imposed
by 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.
Background documentation for this
information collection may be viewed at
the following Web site,
www.reginfo.gov. Please direct general
comments to the following persons: (i)
Desk Officer for the Securities and
Exchange Commission, Office of
Management and Budget, Room 10102,
New Executive Office Building,
Washington, DC 20503 or send an email
to Shagufta Ahmed at Shagufta_
Ahmed@omb.eop.gov; Thomas Bayer,
Director/Chief Information Officer,
Securities and Exchange Commission,
c/o Remi Pavlik-Simon, 100 F St. NE.,
Washington, DC 20549; or send an email
to: PRA_Mailbox@sec.gov. Comments
must be submitted within 30 days of
this notice.
Dated: June 6, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–13702 Filed 6–11–14; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\12JNN1.SGM
12JNN1
]]>Agencies
[Federal Register Volume 79, Number 113 (Thursday, June 12, 2014)]
[Notices]
[Page 33789]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-13702]
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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:
Electronic Data Collection System, SEC File No. 270-621, OMB
Control No. 3235-0672.
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 collection of
information summarized below. The Commission plans to submit this
extension for a current collection of information to the Office of
Management and Budget for approval. The Securities and Exchange
Commission has implemented an Electronic Data Collection System
database (the Database) and invites comment on the Database that
supports information provided by the general public that would like to
file a tip or complaint with the Commission. The Database is a web
based e-filed dynamic report based on technology that pre-populates and
establishes a series of questions based on the data that the individual
enters. The individual then completes specific information on the
subject(s) and nature of the suspicious activity, using the data
elements appropriate to the type of complaint or subject. There are no
costs associated with this collection. The public interface to the
Database is available using the Tips, Complaints and Referrals Portal.
Information is provided voluntarily.
Estimated number of annual responses = 13,120.
Estimated annual reporting burden = 6,560 hours (30 minutes per
submission).
Written comments are invited on: (a) Whether this 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
imposed by 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.
Background documentation for this information collection may be
viewed at the following Web site, www.reginfo.gov. Please direct
general comments to the following persons: (i) Desk Officer for the
Securities and Exchange Commission, Office of Management and Budget,
Room 10102, New Executive Office Building, Washington, DC 20503 or send
an email to Shagufta Ahmed at Shagufta_Ahmed@omb.eop.gov; Thomas
Bayer, Director/Chief Information Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon, 100 F St. NE., Washington, DC 20549;
or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted
within 30 days of this notice.
Dated: June 6, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-13702 Filed 6-11-14; 8:45 am]
BILLING CODE 8011-01-P
