Agency Information Collection Activities; Submission for OMB Review; Comment Request; Employee Retirement Income Security Act Prohibited Transaction Exemption 1986-128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers, 4316-4318 [2015-01354]
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4316
Federal Register / Vol. 80, No. 17 / Tuesday, January 27, 2015 / Notices
Failure of a respondent to file a timely
response to each allegation in the
complaint and in this notice may be
deemed to constitute a waiver of the
right to appear and contest the
allegations of the complaint and this
notice, and to authorize the
administrative law judge and the
Commission, without further notice to
the respondent, to find the facts to be as
alleged in the complaint and this notice
and to enter an initial determination
and a final determination containing
such findings, and may result in the
issuance of an exclusion order or a cease
and desist order or both directed against
the respondent.
Issued: January 21, 2015.
By order of the Commission.
Lisa R. Barton,
Secretary to the Commission
[FR Doc. 2015–01353 Filed 1–26–15; 8:45 am]
BILLING CODE 7020–02–P
DEPARTMENT OF JUSTICE
[OMB Number 1103–0098]
Agency Information Collection
Activities; Proposed eCollection
eComments Requested; Revision of a
Previously Aapproved Collection
COPS Application Package
Community Oriented Policing
Services (COPS) Office, Department of
Justice.
ACTION: 30-day Notice.
AGENCY:
The Department of Justice
(DOJ), Community Oriented Policing
Services (COPS) Office, will be
submitting the following information
collection request to the Office of
Management and Budget (OMB) for
review and approval in accordance with
the Paperwork Reduction Act of 1995.
This proposed information collection
was previously published in the Federal
Register at 79 FR 69881, November 24,
2014, allowing for a 60 day comment
period.
SUMMARY:
Comments are encouraged and
will be accepted for an additional days
until February 26, 2015.
FOR FURTHER INFORMATION CONTACT: If
you have additional comments
especially on the estimated public
burden or associated response time,
suggestions, or need a copy of the
proposed information collection
instrument with instructions or
additional information, please contact
Kimberly J. Brummett, Program
Specialist, Department of Justice,
Community Oriented Policing Services
(COPS) Office, 145 N Street NE.,
asabaliauskas on DSK5VPTVN1PROD with NOTICES
DATES:
VerDate Sep<11>2014
18:01 Jan 26, 2015
Jkt 235001
Washington, DC 20530 (202–353–9769).
Written comments and/or suggestions
can also be directed to the Office of
Management and Budget, Office of
Information and Regulatory Affairs,
Attention Department of Justice Desk
Officer, Washington, DC 20530 or sent
to OIRA_submissions@omb.eop.gov.
SUPPLEMENTARY INFORMATION: Written
comments and suggestions from the
public and affected agencies concerning
the proposed collection of information
are encouraged. Your comments should
address one or more of the following
four points:
— Evaluate 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;
— Evaluate the accuracy of the agency’s
estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
— Enhance the quality, utility, and
clarity of the information to be
collected; and/or
— Minimize the burden of the
collection of information on those
who are to respond, including
through the use of appropriate
automated, electronic, mechanical, or
other technological collection
techniques or other forms of
information technology, e.g.,
permitting electronic submission of
responses.
Overview of this information
collection:
(1) Type of Information Collection:
Revision of a currently approved
collection, with change; comments
requested.
(2) The Title of the Form/Collection:
COPS Application Package.
(3) The agency form number: None.
(4) Affected public who will be asked
or required to respond, as well as a brief
abstract:
Law enforcement agencies and other
public and private entities that apply for
COPS Office grants or cooperative
agreements will be asked complete the
COPS Application Package. The COPS
Application Package includes all of the
necessary forms and instructions that an
applicant needs to review and complete
to apply for COPS grant funding. The
package is used as a standard template
for all COPS programs.
(5) An estimate of the total number of
respondents and the amount of time
estimated for an average respondent to
respond: It is estimated that 5000
respondents annually will complete the
form within 11 hours.
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Fmt 4703
Sfmt 4703
(6) An estimate of the total public
burden (in hours) associated with the
collection: There are an estimated
55,000 total annual burden hours
associated with this collection. It is
estimated that respondents will take 11
hours to complete a questionnaire. The
burden hours for collecting respondent
data sum to 55,000 hours (5000
respondents × 11 hours = 55,000 hours).
If additional information is required
contact: Jerri Murray, Department
Clearance Officer, United States
Department of Justice, Justice
Management Division, Policy and
Planning Staff, Two Constitution
Square, 145 N Street NE., 3E.405B,
Washington, DC 20530.
Dated: January 22, 2015.
Jerri Murray,
Department Clearance Officer for PRA, U.S.
Department of Justice.
[FR Doc. 2015–01395 Filed 1–26–15; 8:45 am]
BILLING CODE 4410–AT–P
DEPARTMENT OF LABOR
Office of the Secretary
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Employee
Retirement Income Security Act
Prohibited Transaction Exemption
1986–128 for Securities Transactions
Involving Employee Benefit Plans and
Broker-Dealers
ACTION:
Notice.
The Department of Labor
(DOL) is submitting the Employee
Benefits Security Administration
(EBSA) sponsored information
collection request (ICR) titled,
‘‘Employee Retirement Income Security
Act Prohibited Transaction Exemption
1986–128 For Securities Transactions
Involving Employee Benefit Plans and
Broker-Dealers,’’ to the Office of
Management and Budget (OMB) for
review and approval for continued use,
without change, in accordance with the
Paperwork Reduction Act of 1995
(PRA), 44 U.S.C. 3501 et seq. Public
comments on the ICR are invited.
DATES: The OMB will consider all
written comments that agency receives
on or before February 26, 2015.
ADDRESSES: A copy of this ICR with
applicable supporting documentation;
including a description of the likely
respondents, proposed frequency of
response, and estimated total burden
may be obtained free of charge from the
RegInfo.gov Web site at https://
www.reginfo.gov/public/do/
SUMMARY:
E:\FR\FM\27JAN1.SGM
27JAN1
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 17 / Tuesday, January 27, 2015 / Notices
PRAViewICR?ref_nbr=201412-1210-005
(this link will only become active on the
day following publication of this notice)
or by contacting Michel Smyth by
telephone at 202–693–4129, TTY 202–
693–8064, (these are not toll-free
numbers) or by email at DOL_PRA_
PUBLIC@dol.gov.
Submit comments about this request
by mail or courier to the Office of
Information and Regulatory Affairs,
Attn: OMB Desk Officer for DOL–EBSA,
Office of Management and Budget,
Room 10235, 725 17th Street NW.,
Washington, DC 20503; by Fax: 202–
395–5806 (this is not a toll-free
number); or by email: OIRA_
submission@omb.eop.gov. Commenters
are encouraged, but not required, to
send a courtesy copy of any comments
by mail or courier to the U.S.
Department of Labor-OASAM, Office of
the Chief Information Officer, Attn:
Departmental Information Compliance
Management Program, Room N1301,
200 Constitution Avenue NW.,
Washington, DC 20210; or by email:
DOL_PRA_PUBLIC@dol.gov.
FOR FURTHER INFORMATION CONTACT:
Michel Smyth by telephone at 202–693–
4129, TTY 202–693–8064, (these are not
toll-free numbers) or by email at DOL_
PRA_PUBLIC@dol.gov.
Authority: 44 U.S.C. 3507(a)(1)(D).
SUPPLEMENTARY INFORMATION: This ICR
seeks to extend PRA authority for the
information collection requirements in
Employee Retirement Income Security
Act (ERISA) Prohibited Transaction
Exemption (PTE) 1986–128, which
applies to securities transactions
involving an employee benefit plan and
a broker-dealer. PTE 1986–128 permits
a person who serves as fiduciary for an
employee benefit plan to effect or
execute securities transactions on behalf
of the employee benefit plan. The PTE
also allows sponsors of pooled separate
accounts and other pooled investment
funds to use their affiliates to effect or
execute securities transactions for such
accounts in order to recapture brokerage
commissions for the benefit of employee
benefit plans whose assets are
maintained in pooled separate accounts
managed by insurance companies. This
exemption provides relief from certain
prohibitions in ERISA section 406(b)
(see 29 U.S.C. 1106(b)) and from the
taxes imposed by Internal Revenue Code
of 1986 (Code) section 4975(a) and (b)
by reason of Code section 4975(c)(1)(E)
or (F) (see 26 U.S.C. 4975(a), (b), and
(c)(1)(E) and (F)).
PTE 1986–128 section III imposes the
following information collection
requirements on a fiduciary of an
employee benefit plan that effects or
VerDate Sep<11>2014
18:01 Jan 26, 2015
Jkt 235001
executes securities transactions (i.e., a
broker-dealer) and the independent plan
fiduciary authorizing the plan to engage
in the transactions with the brokerdealer (i.e., an authorizing fiduciary)
under the conditions contained in the
exemption: (1) The authorizing plan
fiduciary must provide the broker-dealer
with an advance written authorization
for the transactions; (2) the brokerdealer must provide the authorizing
fiduciary with information necessary to
determine whether an authorization
should be made, including a copy of the
exemption, a form for termination, a
description of the broker-dealer’s
brokerage placement practices, and any
other reasonably available information
regarding the matter that the authorizing
fiduciary requests; (3) the broker-dealer
must provide the authorizing fiduciary
with a termination form, at least
annually, explaining that the
authorization is terminable at will,
without penalty to the plan, and that
failure to return the form will result in
continued authorization for the brokerdealer to engage in securities
transactions on behalf of the plan; (4)
the broker-dealer must provide the
authorizing fiduciary with either (a) a
confirmation slip for each individual
securities transaction within ten (10)
days of the transaction containing the
information described in regulations 17
CFR 240.10b–10, or (b) a quarterly
report containing certain financial
information including the total of all
transaction-related charges incurred by
the plan; (5) the broker-dealer must
provide the authorizing fiduciary with
an annual summary of the confirmation
slips or quarterly reports, containing all
security transaction-related charges, the
brokerage placement practices (if
changed), and a portfolio turnover ratio;
and (6) a broker-dealer who is a
discretionary plan trustee must provide
the authorizing fiduciary with an annual
report showing separately the
commissions paid to affiliated brokers
and non-affiliated brokers, on both a
total dollar basis and a cents-per-share
basis. These requirements are designed
as appropriate safeguards to ensure
protection of plan assets involved in the
transactions, which, in the absence of
the class exemption, would not be
permitted. These safeguards rely on the
prior authorization and monitoring of
the broker-fiduciary’s activities by a
second plan fiduciary that is
independent of the first. This
information collection is authorized by
ERISA section 408. See 29 U.S.C. 1108.
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
PO 00000
Frm 00075
Fmt 4703
Sfmt 4703
4317
of information, and the public is
generally not required to respond to an
information collection, unless it is
approved by the OMB under the PRA
and displays a currently valid OMB
Control Number. In addition,
notwithstanding any other provisions of
law, no person shall generally be subject
to penalty for failing to comply with a
collection of information that does not
display a valid Control Number. See 5
CFR 1320.5(a) and 1320.6. The DOL
obtains OMB approval for this
information collection under Control
Number 1210–0059.
OMB authorization for an ICR cannot
be for more than three (3) years without
renewal, and the current approval for
this collection is scheduled to expire on
January 31, 2015. The DOL seeks to
extend PRA authorization for this
information collection for three (3) more
years, without any change to existing
requirements. The DOL notes that
existing information collection
requirements submitted to the OMB
receive a month-to-month extension
while they undergo review. For
additional substantive information
about this ICR, see the related notice
published in the Federal Register on
October 15, 2014 (79 FR 61903).
Interested parties are encouraged to
send comments to the OMB, Office of
Information and Regulatory Affairs at
the address shown in the ADDRESSES
section within thirty (30) days of
publication of this notice in the Federal
Register. In order to help ensure
appropriate consideration, comments
should mention OMB Control Number
1210–0059. The OMB is particularly
interested in comments that:
• Evaluate 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;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses.
Agency: DOL–EBSA.
Title of Collection: Employee
Retirement Income Security Act
E:\FR\FM\27JAN1.SGM
27JAN1
4318
Federal Register / Vol. 80, No. 17 / Tuesday, January 27, 2015 / Notices
Prohibited Transaction Exemption
1986–128 For Securities Transactions
Involving Employee Benefit Plans and
Broker-Dealers.
OMB Control Number: 1210–0059.
Affected Public: Private sector—
businesses or other for-profits and notfor-profit institutions.
Total Estimated Number of
Respondents: 17,800.
Total Estimated Number of
Responses: 1,300,000.
Total Estimated Annual Time Burden:
35,000 hours.
Total Estimated Annual Other Costs
Burden: $1,100,000.
Dated: January 21, 2015.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2015–01354 Filed 1–26–15; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Office of the Secretary
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; General
Provisions and Confined and Enclosed
Spaces and Other Dangerous
Atmospheres in Shipyard Employment
Standards
ACTION:
Notice.
The Department of Labor
(DOL) is submitting the Occupational
Safety and Health Administration
(OSHA) sponsored information
collection request (ICR) titled, ‘‘General
Provisions and Confined and Enclosed
Spaces and Other Dangerous
Atmospheres in Shipyard Employment
Standards’’ to the Office of Management
and Budget (OMB) for review and
approval for continued use, without
change, in accordance with the
Paperwork Reduction Act of 1995
(PRA), 44 U.S.C. 3501 et seq. Public
comments on the ICR are invited.
DATES: The OMB will consider all
written comments that agency receives
on or before February 26, 2015.
ADDRESSES: A copy of this ICR with
applicable supporting documentation;
including a description of the likely
respondents, proposed frequency of
response, and estimated total burden
may be obtained free of charge from the
RegInfo.gov Web site at https://
www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=201411-1218-004
(this link will only become active on the
day following publication of this notice)
or by contacting Michel Smyth by
telephone at 202–693–4129, TTY 202–
693–8064, (these are not toll-free
asabaliauskas on DSK5VPTVN1PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
18:01 Jan 26, 2015
Jkt 235001
numbers) or by email at DOL_PRA_
PUBLIC@dol.gov.
Submit comments about this request
by mail or courier to the Office of
Information and Regulatory Affairs,
Attn: OMB Desk Officer for DOL–OSHA,
Office of Management and Budget,
Room 10235, 725 17th Street NW.,
Washington, DC 20503; by Fax: 202–
395–5806 (this is not a toll-free
number); or by email: OIRA_
submission@omb.eop.gov. Commenters
are encouraged, but not required, to
send a courtesy copy of any comments
by mail or courier to the U.S.
Department of Labor-OASAM, Office of
the Chief Information Officer, Attn:
Departmental Information Compliance
Management Program, Room N1301,
200 Constitution Avenue NW.,
Washington, DC 20210; or by email:
DOL_PRA_PUBLIC@dol.gov.
FOR FURTHER INFORMATION CONTACT:
Michel Smyth by telephone at 202–693–
4129, TTY 202–693–8064, (these are not
toll-free numbers) or by email at DOL_
PRA_PUBLIC@dol.gov.
Authority: 44 U.S.C. 3507(a)(1)(D).
This ICR
seeks to extend PRA authority for the
General Provisions and Confined and
Enclosed Spaces and Other Dangerous
Atmospheres in Shipyard Employment
Standards information collection
requirements codified in regulations 29
CFR part 1915. The Occupational Safety
and Health Act (OSHAct) requires an
employer who is subject to the
Standards: (1) to ensure a competent
person conducts inspections and
atmospheric testing prior to a worker
entering a confined or enclosed space
(§ 1915.12(a)–(c)); (2) to warn workers
not to enter a hazardous space or other
dangerous atmosphere (§§ 1915.12 (a)–
(c), 1915.16); (3) to train a worker who
will be entering a confined or enclosed
space and certify such training has been
provided (§ 1915.12(d)); (4) to establish
and train shipyard rescue teams or
arrange for outside rescue teams and
provide them with information
(§ 1915.12(e)); (5) to ensure one person
on each rescue team maintains a current
first aid training certificate
(§ 1915.12(e)); (6) to exchange
information regarding hazards, safety
rules, and emergency procedures
concerning these spaces and
atmospheres with other employers
whose workers may enter these spaces
and atmospheres (§ 1915.12(f)); (7) to
ensure testing of a space having
contained a combustible or flammable
liquid or gas or toxic, corrosive, or
irritating substance, or other dangerous
atmosphere, boundary or pipeline
before cleaning or other cold work is
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00076
Fmt 4703
Sfmt 4703
started and, as necessary thereafter,
while the operation is ongoing
(§ 1915.13(b)(2) and (4)); (8) to post
signs prohibiting ignition sources
within or near a space that contains
bulk quantities of a flammable or
combustible liquid or gas
(§ 1915.13(b)(10)); (9) to ensure a
confined or enclosed space is tested
before a worker performs hot work in
the work area (§ 1915.14(a)); (10) to post
warnings of testing conducted by a
competent person and certificates of
testing conducted by a Marine Chemist
or Coast Guard authorized person in the
immediate vicinity of the hot-work
operation while the operation is in
progress (§ 1915.14(a) and (b)); and (11)
to retain the certificate of testing on file
for at least three months after
completing the operation
(§ 1915.14(a)(2)). OSHAct sections 2(b),
6, and 8 authorize this information
collection. See 29 U.S.C. 651(b), 655, &
657.
This information collection is subject
to the PRA. A Federal agency generally
cannot conduct or sponsor a collection
of information, and the public is
generally not required to respond to an
information collection, unless it is
approved by the OMB under the PRA
and displays a currently valid OMB
Control Number. In addition,
notwithstanding any other provisions of
law, no person shall generally be subject
to penalty for failing to comply with a
collection of information that does not
display a valid Control Number. See 5
CFR 1320.5(a) and 1320.6. The DOL
obtains OMB approval for this
information collection under Control
Number 1218–0011.
OMB authorization for an ICR cannot
be for more than three (3) years without
renewal, and the current approval for
this collection is scheduled to expire on
January 31, 2015. The DOL seeks to
extend PRA authorization for this
information collection for three (3) more
years, without any change to existing
requirements. The DOL notes that
existing information collection
requirements submitted to the OMB
receive a month-to-month extension
while they undergo review. For
additional substantive information
about this ICR, see the related notice
published in the Federal Register on
October 22, 2014 (79 FR 63171).
Interested parties are encouraged to
send comments to the OMB, Office of
Information and Regulatory Affairs at
the address shown in the ADDRESSES
section within thirty (30) days of
publication of this notice in the Federal
Register. In order to help ensure
appropriate consideration, comments
should mention OMB Control Number
E:\FR\FM\27JAN1.SGM
27JAN1
]]>Agencies
[Federal Register Volume 80, Number 17 (Tuesday, January 27, 2015)]
[Notices]
[Pages 4316-4318]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01354]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Office of the Secretary
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Employee Retirement Income Security Act
Prohibited Transaction Exemption 1986-128 for Securities Transactions
Involving Employee Benefit Plans and Broker-Dealers
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor (DOL) is submitting the Employee
Benefits Security Administration (EBSA) sponsored information
collection request (ICR) titled, ``Employee Retirement Income Security
Act Prohibited Transaction Exemption 1986-128 For Securities
Transactions Involving Employee Benefit Plans and Broker-Dealers,'' to
the Office of Management and Budget (OMB) for review and approval for
continued use, without change, in accordance with the Paperwork
Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on
the ICR are invited.
DATES: The OMB will consider all written comments that agency receives
on or before February 26, 2015.
ADDRESSES: A copy of this ICR with applicable supporting documentation;
including a description of the likely respondents, proposed frequency
of response, and estimated total burden may be obtained free of charge
from the RegInfo.gov Web site at https://www.reginfo.gov/public/do/
[[Page 4317]]
PRAViewICR?ref_nbr=201412-1210-005 (this link will only become active
on the day following publication of this notice) or by contacting
Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are
not toll-free numbers) or by email at DOL_PRA_PUBLIC@dol.gov.
Submit comments about this request by mail or courier to the Office
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW.,
Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free
number); or by email: OIRA_submission@omb.eop.gov. Commenters are
encouraged, but not required, to send a courtesy copy of any comments
by mail or courier to the U.S. Department of Labor-OASAM, Office of the
Chief Information Officer, Attn: Departmental Information Compliance
Management Program, Room N1301, 200 Constitution Avenue NW.,
Washington, DC 20210; or by email: DOL_PRA_PUBLIC@dol.gov.
FOR FURTHER INFORMATION CONTACT: Michel Smyth by telephone at 202-693-
4129, TTY 202-693-8064, (these are not toll-free numbers) or by email
at DOL_PRA_PUBLIC@dol.gov.
Authority: 44 U.S.C. 3507(a)(1)(D).
SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for
the information collection requirements in Employee Retirement Income
Security Act (ERISA) Prohibited Transaction Exemption (PTE) 1986-128,
which applies to securities transactions involving an employee benefit
plan and a broker-dealer. PTE 1986-128 permits a person who serves as
fiduciary for an employee benefit plan to effect or execute securities
transactions on behalf of the employee benefit plan. The PTE also
allows sponsors of pooled separate accounts and other pooled investment
funds to use their affiliates to effect or execute securities
transactions for such accounts in order to recapture brokerage
commissions for the benefit of employee benefit plans whose assets are
maintained in pooled separate accounts managed by insurance companies.
This exemption provides relief from certain prohibitions in ERISA
section 406(b) (see 29 U.S.C. 1106(b)) and from the taxes imposed by
Internal Revenue Code of 1986 (Code) section 4975(a) and (b) by reason
of Code section 4975(c)(1)(E) or (F) (see 26 U.S.C. 4975(a), (b), and
(c)(1)(E) and (F)).
PTE 1986-128 section III imposes the following information
collection requirements on a fiduciary of an employee benefit plan that
effects or executes securities transactions (i.e., a broker-dealer) and
the independent plan fiduciary authorizing the plan to engage in the
transactions with the broker-dealer (i.e., an authorizing fiduciary)
under the conditions contained in the exemption: (1) The authorizing
plan fiduciary must provide the broker-dealer with an advance written
authorization for the transactions; (2) the broker-dealer must provide
the authorizing fiduciary with information necessary to determine
whether an authorization should be made, including a copy of the
exemption, a form for termination, a description of the broker-dealer's
brokerage placement practices, and any other reasonably available
information regarding the matter that the authorizing fiduciary
requests; (3) the broker-dealer must provide the authorizing fiduciary
with a termination form, at least annually, explaining that the
authorization is terminable at will, without penalty to the plan, and
that failure to return the form will result in continued authorization
for the broker-dealer to engage in securities transactions on behalf of
the plan; (4) the broker-dealer must provide the authorizing fiduciary
with either (a) a confirmation slip for each individual securities
transaction within ten (10) days of the transaction containing the
information described in regulations 17 CFR 240.10b-10, or (b) a
quarterly report containing certain financial information including the
total of all transaction-related charges incurred by the plan; (5) the
broker-dealer must provide the authorizing fiduciary with an annual
summary of the confirmation slips or quarterly reports, containing all
security transaction-related charges, the brokerage placement practices
(if changed), and a portfolio turnover ratio; and (6) a broker-dealer
who is a discretionary plan trustee must provide the authorizing
fiduciary with an annual report showing separately the commissions paid
to affiliated brokers and non-affiliated brokers, on both a total
dollar basis and a cents-per-share basis. These requirements are
designed as appropriate safeguards to ensure protection of plan assets
involved in the transactions, which, in the absence of the class
exemption, would not be permitted. These safeguards rely on the prior
authorization and monitoring of the broker-fiduciary's activities by a
second plan fiduciary that is independent of the first. This
information collection is authorized by ERISA section 408. See 29
U.S.C. 1108.
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless it is approved by the OMB under the PRA and displays
a currently valid OMB Control Number. In addition, notwithstanding any
other provisions of law, no person shall generally be subject to
penalty for failing to comply with a collection of information that
does not display a valid Control Number. See 5 CFR 1320.5(a) and
1320.6. The DOL obtains OMB approval for this information collection
under Control Number 1210-0059.
OMB authorization for an ICR cannot be for more than three (3)
years without renewal, and the current approval for this collection is
scheduled to expire on January 31, 2015. The DOL seeks to extend PRA
authorization for this information collection for three (3) more years,
without any change to existing requirements. The DOL notes that
existing information collection requirements submitted to the OMB
receive a month-to-month extension while they undergo review. For
additional substantive information about this ICR, see the related
notice published in the Federal Register on October 15, 2014 (79 FR
61903).
Interested parties are encouraged to send comments to the OMB,
Office of Information and Regulatory Affairs at the address shown in
the ADDRESSES section within thirty (30) days of publication of this
notice in the Federal Register. In order to help ensure appropriate
consideration, comments should mention OMB Control Number 1210-0059.
The OMB is particularly interested in comments that:
Evaluate 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;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., permitting
electronic submission of responses.
Agency: DOL-EBSA.
Title of Collection: Employee Retirement Income Security Act
[[Page 4318]]
Prohibited Transaction Exemption 1986-128 For Securities Transactions
Involving Employee Benefit Plans and Broker-Dealers.
OMB Control Number: 1210-0059.
Affected Public: Private sector--businesses or other for-profits
and not-for-profit institutions.
Total Estimated Number of Respondents: 17,800.
Total Estimated Number of Responses: 1,300,000.
Total Estimated Annual Time Burden: 35,000 hours.
Total Estimated Annual Other Costs Burden: $1,100,000.
Dated: January 21, 2015.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2015-01354 Filed 1-26-15; 8:45 am]
BILLING CODE 4510-29-P
