Submission for OMB Review; Comment Request, 59209 [2015-24887]

Download as PDF Federal Register / Vol. 80, No. 190 / Thursday, October 1, 2015 / Notices SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. mstockstill on DSK4VPTVN1PROD with NOTICES6 Extension: Rule 17f–1(c) and Form X–17F–1A. SEC File No. 270–29, OMB Control No. 3235– 0037. 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’’) 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(c) (17 CFR 240.17f–1(c) and Form X–17F–1A (17 CFR 249.100) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 17f–1(c) requires approximately 15,500 entities in the securities industry to report lost, stolen, missing, or counterfeit securities certificates to the Commission or its designee, to a registered transfer agent for the issue, and, when criminal activity is suspected, to the Federal Bureau of Investigation. Such entities are required to use Form X–17F–1A to make such reports. Filing these reports fulfills a statutory requirement that reporting institutions report and inquire about missing, lost, counterfeit, or stolen securities. Since these reports are compiled in a central database, the rule facilitates reporting institutions to access the database that stores information for the Lost and Stolen Securities Program. We estimate that 15,500 reporting institutions will report that securities certificates are either missing, lost, counterfeit, or stolen annually and that each reporting institution will submit this report 30 times each year. The staff estimates that the average amount of time necessary to comply with Rule 17f–1(c) and Form X17F–1A is five minutes per submission. The total burden is 38,750 hours annually for the entire industry (15,500 times 30 times 5 divided by 60). Rule 17f–1(c) is a reporting rule and does not specify a retention period. The rule requires an incident-based reporting requirement by the reporting institutions when securities certificates are discovered to be missing, lost, counterfeit, or stolen. Registering under Rule 17f–1(c) is mandatory to obtain the VerDate Sep<11>2014 21:04 Sep 30, 2015 Jkt 238001 benefit of a central database that stores information about missing, lost, counterfeit, or stolen securities for the Lost and Stolen Securities Program. Reporting institutions required to register under Rule 17f–1(c) will not be kept confidential; however, the Lost and Stolen Securities Program database will be kept 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) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 F Street, NE Washington, DC 20549, or by sending an email to PRA_ Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: September 25, 2015. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–24887 Filed 9–30–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 613; SEC File No. 270–616, OMB Control No. 3235–0671. 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’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in the following rule: Rule 613 (17 CFR 242.613), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 59209 Rule 613 of Regulation NMS (17 CFR part 242) requires national securities exchanges and national securities associations (‘‘self-regulatory organizations’’ or ‘‘SROs’’) to jointly submit to the Commission a national market system (‘‘NMS’’) plan to govern the creation, implementation, and maintenance of a consolidated audit trail and central repository for the collection of information for NMS securities. The NMS plan must require each SRO and its respective members to provide certain data to the central repository in compliance with Rule 613. When it adopted Rule 613, the Commission discussed the burden hours associated with the development and submission of the NMS plan.1 In doing so, the Commission noted that the development and submission of the NMS plan is part of a multi-step process for developing the consolidated audit trail and that the Commission deferred its discussion of the burden hours associated with the other paperwork requirements required by Rule 613— such as the requirements to provide certain data to the central repository— until after the SROs submit an NMS plan and there has been an opportunity for public comment.2 The SROs submitted to the Commission the NMS plan on September 30, 2014 3 and an amended and restated NMS Plan on February 27, 2015.4 Although the existing collection of information pertains to the development and submission of an NMS plan, and such NMS plan has been developed and submitted, the Commission believes it is prudent to extend this collection of information during the pendency of the Commission’s review of the NMS plan. The Commission estimates that each of the 19 SROs would spend a total of 2,760 burden hours of internal legal, compliance, information technology, and business operations time to comply with the existing collection of information, calculated as follows: (880 programmer analyst hours) + (880 business analyst hours) + (700 attorney hours) + (300 compliance manager hours) = 2,760 burden hours to prepare and file an NMS plan, or approximately 52,440 burden hours in the aggregate, calculated as follows: (2,760 burden 1 See Securities Exchange Act Release No. 67457 (July 18, 2012), 77 FR 45722 (August 1, 2012) (‘‘Adopting Release’’), at 45804–45807. 2 Id. at 45804. 3 See Letter from the SROs, to Brent J. Fields, Secretary, Commission, dated September 30, 2014 (‘‘CAT NMS Plan’’). 4 See Letter from the SROs, to Brent J. Fields, Secretary, Commission, dated February 27, 2015 (‘‘Amended and Restated CAT NMS Plan’’). E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 80, Number 190 (Thursday, October 1, 2015)]
[Notices]
[Page 59209]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-24887]



[[Page 59209]]

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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 FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

Extension:
    Rule 17f-1(c) and Form X-17F-1A. SEC File No. 270-29, OMB 
Control No. 3235-0037.

    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'') 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(c) (17 CFR 240.17f-1(c) and Form X-17F-1A (17 CFR 249.100) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17f-1(c) requires approximately 15,500 entities in the 
securities industry to report lost, stolen, missing, or counterfeit 
securities certificates to the Commission or its designee, to a 
registered transfer agent for the issue, and, when criminal activity is 
suspected, to the Federal Bureau of Investigation. Such entities are 
required to use Form X-17F-1A to make such reports. Filing these 
reports fulfills a statutory requirement that reporting institutions 
report and inquire about missing, lost, counterfeit, or stolen 
securities. Since these reports are compiled in a central database, the 
rule facilitates reporting institutions to access the database that 
stores information for the Lost and Stolen Securities Program.
    We estimate that 15,500 reporting institutions will report that 
securities certificates are either missing, lost, counterfeit, or 
stolen annually and that each reporting institution will submit this 
report 30 times each year. The staff estimates that the average amount 
of time necessary to comply with Rule 17f-1(c) and Form X17F-1A is five 
minutes per submission. The total burden is 38,750 hours annually for 
the entire industry (15,500 times 30 times 5 divided by 60).
    Rule 17f-1(c) is a reporting rule and does not specify a retention 
period. The rule requires an incident-based reporting requirement by 
the reporting institutions when securities certificates are discovered 
to be missing, lost, counterfeit, or stolen. Registering under Rule 
17f-1(c) is mandatory to obtain the benefit of a central database that 
stores information about missing, lost, counterfeit, or stolen 
securities for the Lost and Stolen Securities Program. Reporting 
institutions required to register under Rule 17f-1(c) will not be kept 
confidential; however, the Lost and Stolen Securities Program database 
will be kept 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) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street, NE Washington, DC 20549, or by sending an 
email to PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: September 25, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-24887 Filed 9-30-15; 8:45 am]
BILLING CODE 8011-01-P
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