Proposed Collection; Comment Request, 77397-77398 [2015-31361]
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Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of
this notice.
Dated: December 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–31360 Filed 12–11–15; 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 FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
mstockstill on DSK4VPTVN1PROD with NOTICES
Extension:
Schedule 14D–1F, OMB Control No. 3235–
0376, SEC File No. 270–338.
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 existing collection
of information to the Office of
Management and Budget for extension
and approval.
Schedule 14D–1F (17 CFR 240.14d–
102) is a form that may be used by any
person (the ‘‘bidder’’) making a cash
tender or exchange offer for securities of
any issuer (the ‘‘target’’) incorporated or
organized under the laws of Canada or
any Canadian province or territory that
is a foreign private issuer, where less
than 40% of the outstanding class of the
target’s securities that is the subject of
the offer is held by U.S. holders.
Schedule 14D–1F is designed to
facilitate cross-border transactions in
the securities of Canadian issuers. The
information required to be filed with the
Commission provides security holders
with material information regarding the
bidder as well as the transaction so that
they may make informed investment
decisions. Schedule 14D–1F takes
approximately 2 hours per response to
prepare and is filed by approximately 2
respondents annually for a total
reporting burden of 4 hours (2 hours per
response × 2 responses).
Written comments are invited on: (a)
Whether this 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 imposed by the collection
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17:36 Dec 11, 2015
Jkt 238001
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
unless it displays a currently valid
control number.
Please direct your written comments
to Pamela Dyson, 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: December 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–31362 Filed 12–11–15; 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 FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Regulation S–ID, OMB Control No. 3235–
0692, SEC File No. 270–644.
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 collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Regulation S–ID (17 CFR 248),
including the information collection
requirements thereunder, is designed to
better protect investors from the risks of
identity theft. Under Regulation S–ID,
SEC-regulated entities are required to
develop and implement reasonable
policies and procedures to identify,
detect, and respond to relevant red flags
(the ‘‘Identity Theft Red Flags Rules’’)
and, in the case of entities that issue
credit or debit cards, to assess the
validity of, and communicate with
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Fmt 4703
Sfmt 4703
77397
cardholders regarding, address changes.
Section 248.201 of Regulation S–ID
includes the following information
collection requirements for each SECregulated entity that qualifies as a
‘‘financial institution’’ or ‘‘creditor’’
under Regulation S–ID and that offers or
maintains covered accounts: (i) Creation
and periodic updating of an identity
theft prevention program (‘‘Program’’)
that is approved by the board of
directors, an appropriate committee
thereof, or a designated senior
management employee; (ii) periodic
staff reporting to the board of directors
on compliance with the Identity Theft
Red Flags Rules and related guidelines;
and (iii) training of staff to implement
the Program. Section 248.202 of
Regulation S–ID includes the following
information collection requirements for
each SEC-regulated entity that is a credit
or debit card issuer: (i) Establishment of
policies and procedures that assess the
validity of a change of address
notification if a request for an additional
or replacement card on the account
follows soon after the address change;
and (ii) notification of a cardholder,
before issuance of an additional or
replacement card, at the previous
address or through some other
previously agreed-upon form of
communication, or alternatively,
assessment of the validity of the address
change request through the entity’s
established policies and procedures.
SEC staff estimates of the hour
burdens associated with section 248.201
under Regulation S–ID include the onetime burden of complying with this
section for newly-formed SEC-regulated
entities, as well as the ongoing costs of
compliance for all SEC-regulated
entities. With respect to the one-time
burden hours, staff estimates that each
newly-formed financial institution or
creditor would incur a burden of 2
hours to conduct an initial assessment
of covered accounts. Staff estimates that
approximately 644 SEC-regulated
financial institutions and creditors are
newly formed each year, and the total
estimated one-time burden to initially
assess covered accounts is therefore
1,288 hours. Staff also estimates that
each financial institution or creditor
that maintains covered accounts would
incur an additional initial burden of 29
hours to develop and obtain board
approval of a Program and to train the
staff of the financial institution or
creditor. Staff estimates that
approximately 580 SEC-regulated
financial institutions and creditors that
maintain covered accounts are newly
formed each year, and thus the total
estimated one-time burden to develop
E:\FR\FM\14DEN1.SGM
14DEN1
mstockstill on DSK4VPTVN1PROD with NOTICES
77398
Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
and obtain board approval of a Program
and train staff is 16,820 hours. Thus, the
total initial estimated burden for all
newly-formed SEC-regulated entities is
18,108 hours (1,288 hours + 16,820
hours).
With respect to ongoing annual
burden hours, SEC staff estimates that
each financial institution or creditor
would incur a burden of 1 hour to
periodically assess whether it offers or
maintains covered accounts. Staff
estimates that there are approximately
9,960 SEC-regulated entities that are
either financial institutions or creditors,
and the total estimated annual burden to
periodically assess covered accounts is
therefore 9,960 hours. Staff also
estimates that each financial institution
or creditor that maintains covered
accounts would incur an additional
annual burden of 9.5 hours to prepare
and present an annual report to the
board and to periodically review and
update the Program. Staff estimates that
there are approximately 8,964 SECregulated entities that are financial
institutions or creditors that offer or
maintain covered accounts, and thus the
total estimated additional annual
burden for these entities is 85,158
hours. Thus, the total ongoing annual
estimated burden for all SEC-regulated
entities is 95,118 hours (9,960 hours +
85,158 hours).
The collections of information
required by section 248.202 under
Regulation S–ID will apply only to SECregulated entities that issue credit or
debit cards. SEC staff understands that
SEC-regulated entities generally do not
issue credit or debit cards, but instead
partner with other entities, such as
banks, that issue cards on their behalf.
These other entities, which are not
regulated by the SEC, are already subject
to substantially similar change of
address obligations pursuant to other
federal regulators’ identity theft red
flags rules. Therefore, staff does not
expect that any SEC-regulated entities
will be subject to the information
collection requirements of section
248.202, and accordingly, staff estimates
that there is no hour burden related to
section 248.202 for SEC-regulated
entities.
In total, SEC staff estimates that the
aggregate annual information collection
burden of Regulation S–ID is 113,226
hours (18,108 hours + 95,118 hours).
This estimate of burden hours is made
solely for the purposes of the Paperwork
Reduction Act and is not derived from
a quantitative, comprehensive, or even
representative survey or study of the
burdens associated with Commission
rules and forms. Compliance with
Regulation S–ID, including compliance
VerDate Sep<11>2014
17:36 Dec 11, 2015
Jkt 238001
with the information collection
requirements thereunder, is mandatory
for each SEC-regulated entity that
qualifies as a ‘‘financial institution’’ or
‘‘creditor’’ under Regulation S–ID (as
discussed above, certain collections of
information under Regulation S–ID are
mandatory only for financial
institutions or creditors that offer or
maintain covered accounts). Responses
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: (i)
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;
(ii) the accuracy of the agency’s estimate
of the burden of the collection of
information; (iii) ways to enhance the
quality, utility, and clarity of the
information collected; and (iv) 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 Pamela Dyson, 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.
All submissions should refer to File
Number 270–644. This file number
should be included on the subject line
if email is used. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov).
All comments received will be posted
without change; we do not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Form T–3; OMB Control No. 3235–0105,
SEC File No. 270–123.
SECURITIES AND EXCHANGE
COMMISSION
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’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collections of information
discussed below.
Form T–3 (17 CFR 269.3) is an
application for qualification of an
indenture under the Trust Indenture Act
of 1939 (15 U.S.C. 77aaa et seq.). The
information provided under Form T–3
is used by the Commission to determine
whether to qualify an indenture relating
to an offering of debt securities that is
not required to be registered under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.). Form T–3 is filed on occasion. The
information required by Form T–3 is
mandatory. This information is publicly
available on EDGAR. Form T–3 takes
approximately 43 hours per response to
prepare and is filed by approximately 12
respondents. We estimate that 25% of
the 43 hours per response (11 hours) is
prepared by the filer for a total annual
reporting burden of 132 hours (11 hours
per response × 12 responses).
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.
The public may view the 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 PavlikSimon, 100 F Street NE., Washington,
DC 20549 or send an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Submission for OMB Review;
Comment Request
Dated: December 8, 2015.
Brent J. Fields,
Secretary.
Dated: December 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–31361 Filed 12–11–15; 8:45 am]
BILLING CODE 8011–01–P
Upon Written Request Copies Available
From: Securities and Exchange
PO 00000
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[FR Doc. 2015–31358 Filed 12–11–15; 8:45 am]
BILLING CODE 8011–01–P
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]]>Agencies
[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)]
[Notices]
[Pages 77397-77398]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-31361]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; 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:
Regulation S-ID, OMB Control No. 3235-0692, SEC File No. 270-
644.
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
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
Regulation S-ID (17 CFR 248), including the information collection
requirements thereunder, is designed to better protect investors from
the risks of identity theft. Under Regulation S-ID, SEC-regulated
entities are required to develop and implement reasonable policies and
procedures to identify, detect, and respond to relevant red flags (the
``Identity Theft Red Flags Rules'') and, in the case of entities that
issue credit or debit cards, to assess the validity of, and communicate
with cardholders regarding, address changes. Section 248.201 of
Regulation S-ID includes the following information collection
requirements for each SEC-regulated entity that qualifies as a
``financial institution'' or ``creditor'' under Regulation S-ID and
that offers or maintains covered accounts: (i) Creation and periodic
updating of an identity theft prevention program (``Program'') that is
approved by the board of directors, an appropriate committee thereof,
or a designated senior management employee; (ii) periodic staff
reporting to the board of directors on compliance with the Identity
Theft Red Flags Rules and related guidelines; and (iii) training of
staff to implement the Program. Section 248.202 of Regulation S-ID
includes the following information collection requirements for each
SEC-regulated entity that is a credit or debit card issuer: (i)
Establishment of policies and procedures that assess the validity of a
change of address notification if a request for an additional or
replacement card on the account follows soon after the address change;
and (ii) notification of a cardholder, before issuance of an additional
or replacement card, at the previous address or through some other
previously agreed-upon form of communication, or alternatively,
assessment of the validity of the address change request through the
entity's established policies and procedures.
SEC staff estimates of the hour burdens associated with section
248.201 under Regulation S-ID include the one-time burden of complying
with this section for newly-formed SEC-regulated entities, as well as
the ongoing costs of compliance for all SEC-regulated entities. With
respect to the one-time burden hours, staff estimates that each newly-
formed financial institution or creditor would incur a burden of 2
hours to conduct an initial assessment of covered accounts. Staff
estimates that approximately 644 SEC-regulated financial institutions
and creditors are newly formed each year, and the total estimated one-
time burden to initially assess covered accounts is therefore 1,288
hours. Staff also estimates that each financial institution or creditor
that maintains covered accounts would incur an additional initial
burden of 29 hours to develop and obtain board approval of a Program
and to train the staff of the financial institution or creditor. Staff
estimates that approximately 580 SEC-regulated financial institutions
and creditors that maintain covered accounts are newly formed each
year, and thus the total estimated one-time burden to develop
[[Page 77398]]
and obtain board approval of a Program and train staff is 16,820 hours.
Thus, the total initial estimated burden for all newly-formed SEC-
regulated entities is 18,108 hours (1,288 hours + 16,820 hours).
With respect to ongoing annual burden hours, SEC staff estimates
that each financial institution or creditor would incur a burden of 1
hour to periodically assess whether it offers or maintains covered
accounts. Staff estimates that there are approximately 9,960 SEC-
regulated entities that are either financial institutions or creditors,
and the total estimated annual burden to periodically assess covered
accounts is therefore 9,960 hours. Staff also estimates that each
financial institution or creditor that maintains covered accounts would
incur an additional annual burden of 9.5 hours to prepare and present
an annual report to the board and to periodically review and update the
Program. Staff estimates that there are approximately 8,964 SEC-
regulated entities that are financial institutions or creditors that
offer or maintain covered accounts, and thus the total estimated
additional annual burden for these entities is 85,158 hours. Thus, the
total ongoing annual estimated burden for all SEC-regulated entities is
95,118 hours (9,960 hours + 85,158 hours).
The collections of information required by section 248.202 under
Regulation S-ID will apply only to SEC-regulated entities that issue
credit or debit cards. SEC staff understands that SEC-regulated
entities generally do not issue credit or debit cards, but instead
partner with other entities, such as banks, that issue cards on their
behalf. These other entities, which are not regulated by the SEC, are
already subject to substantially similar change of address obligations
pursuant to other federal regulators' identity theft red flags rules.
Therefore, staff does not expect that any SEC-regulated entities will
be subject to the information collection requirements of section
248.202, and accordingly, staff estimates that there is no hour burden
related to section 248.202 for SEC-regulated entities.
In total, SEC staff estimates that the aggregate annual information
collection burden of Regulation S-ID is 113,226 hours (18,108 hours +
95,118 hours). This estimate of burden hours is made solely for the
purposes of the Paperwork Reduction Act and is not derived from a
quantitative, comprehensive, or even representative survey or study of
the burdens associated with Commission rules and forms. Compliance with
Regulation S-ID, including compliance with the information collection
requirements thereunder, is mandatory for each SEC-regulated entity
that qualifies as a ``financial institution'' or ``creditor'' under
Regulation S-ID (as discussed above, certain collections of information
under Regulation S-ID are mandatory only for financial institutions or
creditors that offer or maintain covered accounts). Responses 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: (i) 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; (ii) the accuracy of the agency's estimate of
the burden of the collection of information; (iii) ways to enhance the
quality, utility, and clarity of the information collected; and (iv)
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 Pamela Dyson, 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.
All submissions should refer to File Number 270-644. This file
number should be included on the subject line if email is used. The
Commission will post all comments on the Commission's Internet Web site
(https://www.sec.gov). All comments received will be posted without
change; we do not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly.
Dated: December 8, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-31361 Filed 12-11-15; 8:45 am]
BILLING CODE 8011-01-P
