Submission for OMB Review; Comment Request, 57946-57948 [2016-20257]

Download as PDF 57946 Federal Register / Vol. 81, No. 164 / Wednesday, August 24, 2016 / Notices Chairman as necessary to facilitate the conduct of the meeting, persons planning to attend should check with the DFO if such rescheduling would result in a major inconvenience. If attending this meeting, please enter through the One White Flint North Building, 11555 Rockville Pike, Rockville, MD. After registering with security, please contact Mr. Theron Brown (240–888–9835) to be escorted to the meeting room. Dated: August 16, 2016. Mark L. Banks, Chief, Technical Support Branch, Advisory Committee on Reactor Safeguards. [FR Doc. 2016–20269 Filed 8–23–16; 8:45 am] BILLING CODE 7590–01–P OFFICE OF PERSONNEL MANAGEMENT [OMB Control No. 3206–0131] Revision of Information Collection: Combined Federal Campaign Applications U.S. Office of Personnel Management. ACTION: 30-Day notice and request for comments. AGENCY: In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–13, May 22, 1995), this notice announces that the Office of Personnel Management intends to submit to the Office of Management and Budget (OMB) a request for clearance to revise an information collection. Combined Federal Campaign Applications, OMB Control No. 3206–0131, which include OPM Forms 1647–A, –B, and –E, are used to review the eligibility of national, international, and local charitable organizations and Department of Defense morale, welfare, and recreation (MWR)/Family Support and Youth Activities/Programs (FSYA/FSYP) organizations that wish to participate in the Combined Federal Campaign. The proposed revisions reflect changes in eligibility guidance from the Office of Personnel Management. On March 10, 2016, we published a 60-day notice and request for comments. We received two comments recommending the addition of a ‘‘thank you statement’’ field that would facilitate immediate acknowledgement of electronic pledges. This recommended revision is included below. We estimate 20,500 responses to this information collection annually. Each form takes approximately three hours to complete. The annual estimated burden is 40,500 hours. mstockstill on DSK3G9T082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 20:16 Aug 23, 2016 Jkt 238001 Comments are encouraged and will be accepted until September 23, 2016. This process is conducted in accordance with 5 CFR 1320.1. ADDRESSES: Interested persons are invited to submit written comments on the proposed information collection to the Office of Information and Regulatory Affairs, Office of Management Budget, 725 17th Street NW., Washington, DC 20503, Attention: Desk Officer for the Office of Personnel Management or sent via electronic mail to oira_submission@ omb.eop.gov or faxed to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: A copy of this ICR, with applicable supporting documentation, may be obtained by contacting the Office of Information and Regulatory Affairs, Office of Management Budget, 725 17th Street NW., Washington, DC 20503, Attention: Desk Officer for the Office of Personnel Management or sent via electronic mail to oira_submission@ omb.eop.gov or faxed to (202) 395–6974. SUPPLEMENTARY INFORMATION: The Office of Management and Budget is particularly interested in comments that: 1. 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; 2. 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; 3. Enhance the quality, utility, and clarity of the information to be collected; and 4. 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 submissions of responses. The Combined Federal Campaign (CFC) is the world’s largest and most successful annual workplace philanthropic giving campaign, with 127 CFC campaigns throughout the country and overseas raising millions of dollars each year. The mission of the CFC is to promote and support philanthropy through a program that is employee focused, cost-efficient, and effective in providing all federal employees the opportunity to improve the quality of life for all. The CFC charity applications collect information from about 20,500 national, international, and local charities for DATES: PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 inclusion on the CFC charity list. This ICR is being revised to accommodate presentation in an online CFC charity application format. Revisions include: 1. The addition of name and email fields for CFC application system account creation; 2. the inclusion of electronic fund transfer (EFT) information (for national and international charities); 3. the addition of a ‘‘thank you statement’’ field to facilitate immediate acknowledgement of electronic pledges; 4. the addition of three questions surrounding volunteers opportunities and solicitation of federal employees for these opportunities; 5. design of the schedule of services to align with an online form; and 6. revision of certification statements to make them parallel with eligibility requirements at 5 CFR 950 as revised April 16, 2014, effective January 1, 2017. U.S. Office of Personnel Management. Beth F. Cobert, Acting Director. [FR Doc. 2016–20190 Filed 8–23–16; 8:45 am] BILLING CODE 6325–46–P 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 19b–4 and Form 19b–4 Filings with Respect to Proposed Rule Changes, Securities-Based Swap Submissions, and Advance Notices by Self-Regulatory Organizations and the Security-Based Swap Stay of Clearing Requirement; SEC File No. 270–38, OMB Control No. 3235– 0045. 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 of the previously approved collection of information provided for in Rule 19b–4 (17 CFR 240.19b–4), under the Securities Exchange Act of 1934 (‘‘Act’’) (15 U.S.C. 78a et seq.). Section 19(b) of the Act (15 U.S.C. 78s(b)) requires each self-regulatory organization (‘‘SRO’’) to file with the Commission copies of any proposed E:\FR\FM\24AUN1.SGM 24AUN1 Federal Register / Vol. 81, No. 164 / Wednesday, August 24, 2016 / Notices mstockstill on DSK3G9T082PROD with NOTICES rule, or any proposed change in, addition to, or deletion from the rules of such SRO. Rule 19b–4 implements the requirements of Section 19(b) by requiring the SROs to file their proposed rule changes on Form 19b–4 and by clarifying which actions taken by SROs are subject to the filing requirement set forth in Section 19(b). Rule 19b–4(n) requires a designated clearing agency to provide the Commission advance notice (‘‘Advance Notice’’) of any proposed change to its rules, procedures, or operations that could materially affect the nature or level of risks presented by such clearing agency. Rule 19b–4(o) requires a registered clearing agency to submit for a Commission determination any security-based swap, or any group, category, type, or class of security-based swaps it plans to accept for clearing (‘‘Security-Based Swap Submission’’), and provide notice to its members of such submissions. The collection of information is designed to provide the Commission with the information necessary to determine, as required by the Act, whether the proposed rule change is consistent with the Act and the rules thereunder. The information is used to determine if the proposed rule change should be approved, disapproved, suspended, or if proceedings should be instituted to determine whether to approve or disapprove the proposed rule change. The respondents to the collection of information are SROs (as defined by Section 3(a)(26) of the Act), 1 including national securities exchanges, national securities associations, registered clearing agencies, notice registered securities future product exchanges, and the Municipal Securities Rulemaking Board. In calendar year 2015, each respondent filed an average of approximately 57 proposed rule changes. Each filing takes approximately 39 hours to complete on average. Thus, the total annual reporting burden for filing proposed rule changes with the Commission is 86,697 hours (57 proposals per year × 39 SROs × 39 hours per filing) for the estimated future number of 39 SROs.2 In addition to filing their proposed rule changes with the Commission, the respondents also 1 15 U.S.C. 78c(a)(26). most of 2015, 34 SROs were registered. One registered SRO withdrew in December 2015 and one SRO newly registered with the Commission in January 2016. The Commission expects five additional respondents to register during the threeyear period for which this PRA Extension is applicable (three as registered clearing agencies and two as national securities exchanges), bringing the total number of respondents to 39. 2 For VerDate Sep<11>2014 20:16 Aug 23, 2016 Jkt 238001 are required to post each of their proposals on their respective Web sites, a process that takes approximately four hours to complete per proposal. Thus, for 1,935 proposals, the total annual reporting burden on respondents to post the proposals on their Web sites is 7,740 hours (1,935 proposals per year × 4 hours per filing) or 8,892 hours (57 proposals per year × 39 SROs × 4 hours per filing) for the estimated future number of 39 SROs. Further, the respondents are required to update their rulebooks, which they maintain on their Web sites, to reflect the changes that they make in each proposal they file. Thus, for all filings that were not withdrawn by a respondent (240 withdrawn filings in calendar year 2015) or disapproved by the Commission (6 disapproved filings in calendar year 2015), the respondents were required to update their online rulebooks to reflect the effectiveness of 1,689 proposals, each of which takes approximately four hours to complete per proposal. Thus, the total annual reporting burden for updating online rulebooks is 7,764 hours ((2,223 filings per year¥275 withdrawn filings 3¥7 disapproved filings 4) × 4 hours). Finally, a respondent is required to notify the Commission if it does not post a proposed rule change on its Web site on the same day that it filed the proposal with the Commission. The Commission estimates that SROs will fail to post proposed rule changes on their Web sites on the same day as the filing 22 times a year (across all SROs), and that each SRO will spend approximately one hour preparing and submitting such notice to the Commission, resulting in a total annual burden of 22 hours (22 notices × 1 hour per notice). Designated clearing agencies have additional information collection burdens. As noted above, pursuant to Rule 19b–4(n), a designated clearing agency must file with the Commission an Advance Notice of any proposed change to its rules, procedures, or operations that could materially affect the nature or level of risks presented by such designated clearing agency. The Commission estimates that four designated clearing agencies will each submit five Advance Notices per year, with each submission taking 90 hours to complete. The total annual reporting burden for filing Advance Notices is 3 For 34 SROs, 240 withdrawn filings equal approximately 7.06 filings per SRO. For 39 SROs, the figure would increase to 275 withdrawn filings. 4 For 34 SROs, six disapproved filings equal approximately 0.18 filings per SRO. For 39 SROs, the figure would increase to seven disapproved filings. PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 57947 therefore 1,800 hours (4 designated clearing agencies × 5 Advance Notices per year × 90 hours per response). Designated clearing agencies are required to post all Advance Notices to their Web sites, each of which takes approximately four hours to complete. For five Advance Notices, the total annual reporting burden for posting them to respondents’ Web sites is 80 hours (4 designated clearing agencies × 5 Advance Notices per year × 4 hours per Web site posting). Respondents are required to update the postings of those Advance Notices that become effective, each of which takes approximately four hours to complete. The total annual reporting burden for updating Advance Notices on the respondents’ Web sites is 80 hours (4 designated clearing agencies × 5 Advance Notices per year × 4 hours per Web site posting). Pursuant to Rule 19b–4(n)(5), the respondents are also required to provide copies of all materials submitted to the Commission relating to an Advance Notice to the Board of Governors of the Federal Reserve System (‘‘Board’’) contemporaneously with such submission to the Commission, which is estimated to take two hours. The total annual reporting burden for designated clearing agencies to meet this requirement is 40 hours (4 designated clearing agencies × 5 Advance Notices per year × 2 hours per response). The Commission estimates that three security-based swap clearing agencies will each submit 20 Security-Based Swap Submissions per year, with each submission taking 140 hours to complete resulting in a total annual reporting burden of 8,400 hours (3 respondent clearing agencies × 20 Security-Based Swap Submissions per year × 140 hours per response). Respondent clearing agencies are required to post all Security-Based Swap Submissions to their Web sites, each of which takes approximately four hours to complete. For 20 SecurityBased Swap Submissions, the total annual reporting burden for posting them to the three respondents’ Web sites is 240 hours (3 respondent clearing agencies × 20 Security-Based Swap Submissions per year × 4 hours per Web site posting). In addition, three clearing agencies that have not previously posted Security-Based Swap Submissions, Advance Notices, and proposed rule changes on their Web sites may need to update their existing Web sites to post such filings online. The Commission estimates that each of these three clearing agencies would spend approximately 15 hours updating its existing Web site, resulting in a total one-time burden of 45 hours (3 E:\FR\FM\24AUN1.SGM 24AUN1 mstockstill on DSK3G9T082PROD with NOTICES 57948 Federal Register / Vol. 81, No. 164 / Wednesday, August 24, 2016 / Notices respondent clearing agencies × 15 hours per Web site update) or 15 hours annualized over three years. Respondent clearing agencies will also have to provide training to staff members using the Electronic Form 19b–4 Filing System (‘‘EFFS’’) to submit Security-Based Swap Submissions, Advance Notices, and/or proposed rule changes electronically. The Commission estimates that one anticipated securitybased swap clearing agency will spend approximately 20 hours training all staff members who will use EFFS to submit Security-Based Swap Submissions, Advance Notices, and/or proposed rule changes electronically, or 6.7 hours annualized over three years. The Commission also estimates that one anticipated clearing agency will have a one-time burden of 130 hours to draft and implement internal policies and procedures for using EFFS to make these submissions, or 43.3 hours annualized over three years. The Commission estimates that each of the 39 respondents will spend 10 hours each year training new compliance staff members and updating the training of existing compliance staff members to use EFFS, for a total annual burden of 390 hours (39 respondent SROs × 10 hours). In connection with Security-Based Swap Submissions, counterparties may apply for a stay from a mandatory clearing requirement under Rule 3Ca–1. The Commission estimates that each clearing agency will submit five applications for stays from a clearing requirement per year and it will take approximately 18 hours to retrieve, review, and submit each application. Thus, the total annual reporting burden for the Rule 3Ca–1 stay of clearing requirement would be 270 hours (3 respondent clearing agencies × 5 stay of clearing applications per year × 18 hours to retrieve, review, and submit the stay of clearing information). Based on the above, the total estimated annual response burden pursuant to Rule 19b–4 and Form 19b– 4 is the sum of the total annual reporting burdens for filing proposed rule changes, Advance Notices, and Security-Based Swap Submissions; training staff to file such proposals; drafting, modifying, and implementing internal policies and procedures for filing such proposals; posting each proposal on the respondents’ Web sites; updating Web sites to enable posting of proposals; updating the respondents’ online rulebooks to reflect the proposals that became effective; submitting copies of Advance Notices to the Board; and applying for stays from clearing requirements, which is 114,740 hours. VerDate Sep<11>2014 20:16 Aug 23, 2016 Jkt 238001 Compliance with Rule 19b–4 is mandatory. Information received in response to Rule 19b–4 shall not be kept confidential; the information collected is public information. 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 PavlikSimon, 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: August 19, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–20257 Filed 8–23–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78617; File No. SR–FINRA– 2015–054] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving Rule Change as Modified by Amendment Nos. 1 and 2 To Adopt FINRA Capital Acquisition Broker Rules August 18, 2016. I. Introduction On December 4, 2015, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’ or ‘‘SEC’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 proposed rule change SR–FINRA–2015– 054, pursuant to which FINRA proposed to adopt a rule set that would apply exclusively to firms that meet the definition of ‘‘capital acquisition broker’’ (‘‘CAB’’) and that elect to be 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00072 Fmt 4703 Sfmt 4703 governed under this rule set (collectively, the ‘‘CAB rules’’). The Commission published the proposed rule change for public comment in the Federal Register on December 23, 2015.3 On January 28, 2016, FINRA extended the time period in which the Commission must approve the proposed rule change, disapprove the proposed rule change or institute proceedings to determine whether to approve or disapprove the proposed rule change to March 22, 2016. On March 17, 2016, the Commission instituted proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act 4 to determine whether to approve or disapprove the proposed rule change.5 The Commission received 18 comment letters on the proposal.6 In response to comments, on March 29, 2016 FINRA filed a partial amendment (‘‘Amendment No. 1’’) to its proposed rule change to amend CAB Rule 016(c)(2) to clarify that the definition of ‘‘capital acquisition broker’’ does not include any broker or 3 Exchange Act Release No. 76675 (December 17, 2015), 80 FR 79969 (December 23, 2015) (Notice of Filing of File No. SR–FINRA–2015–054) (‘‘Notice of Filing’’). 4 15 U.S.C. 78s(b)(2)(B). 5 Exchange Act Release No. 77391 (March 17, 2016), 81 FR 15588 (March 23, 2016) (Order Instituting Proceedings To Determine Whether to Approve or Disapprove Proposed Rule Change to Adopt FINRA Capital Acquisition Broker Rules on File No. SR–FINRA–2015–054). 6 Letters from Peter W. LaVigne, Esq., Chair, Securities Regulation Committee, Business Law Section, New York State Bar Association, dated January 22, 2016 (‘‘New York Bar Association Letter’’); Judith M. Shaw, President, North American Securities Administrators Association, Inc., dated January 15, 2016 (‘‘NASAA Letter’’); Timothy Cahill, President, Compass Securities Corporation, dated January 13, 2016; Mark Fairbanks, President, Foreside Distributors, dated January 13, 2016 (‘‘Foreside Letter’’); Dan Glusker, Perkins Fund Marketing, LLC, dated January 13, 2016; Steven Jafarzadeh, CAIA, Managing Director, CCO Partner, Stonehaven, dated January 13, 2016; Richard A. Murphy, Manager, North Bridge Capital LLC, dated January 13, 2016; Ron Oldenkamp, President, Genesis Marketing Group, dated January 13, 2016; Michael S. Quinn, Member and CCO, Q Advisors LLC, dated January 13, 2016 (‘‘Q Advisors Letter’’); Lisa Roth, President, Monahan & Roth, LLC, dated January 13, 2016 (‘‘Roth Letter’’); Howard Spindel, Senior Managing Director, and Cassondra E. Joseph, Managing Director, Integrated Management Solutions USA LLC, dated April 8, 2016 (‘‘IMS Letter 1’’)and January 13, 2016 (‘‘IMS Letter 2’’); Sajan K. Thomas, President, and Stephen J. Myott, Chief Compliance Officer, Thomas Capital Group, Inc., dated January 13, 2016; Donna DiMaria, Chairman of the Board of Directors, and Lisa Roth, Board of Directors, Third Party Marketers Association, dated January 12, 2016 (‘‘3PM Letter’’); Frank P. L. Minard, Managing Partner, XT Capital Partners, LLC, dated January 12, 2016; Arne Rovell, Coronado Investments, LLC, dated January 6, 2016 (‘‘Coronado Letter’’); Daniel H. Kolber, President/ CEO, Intellivest Securities, Inc., dated December 30, 2016 (‘‘Intellivest Letter’’); and Roger W. Mehle, Chairman and CEO, Achates Capital Advisors LLC, dated December 29, 2015 (‘‘Achates Letter’’). E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 81, Number 164 (Wednesday, August 24, 2016)]
[Notices]
[Pages 57946-57948]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-20257]


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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 19b-4 and Form 19b-4 Filings with Respect to Proposed Rule 
Changes, Securities-Based Swap Submissions, and Advance Notices by 
Self-Regulatory Organizations and the Security-Based Swap Stay of 
Clearing Requirement; SEC File No. 270-38, OMB Control No. 3235-
0045.

    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 of the 
previously approved collection of information provided for in Rule 19b-
4 (17 CFR 240.19b-4), under the Securities Exchange Act of 1934 
(``Act'') (15 U.S.C. 78a et seq.).
    Section 19(b) of the Act (15 U.S.C. 78s(b)) requires each self-
regulatory organization (``SRO'') to file with the Commission copies of 
any proposed

[[Page 57947]]

rule, or any proposed change in, addition to, or deletion from the 
rules of such SRO. Rule 19b-4 implements the requirements of Section 
19(b) by requiring the SROs to file their proposed rule changes on Form 
19b-4 and by clarifying which actions taken by SROs are subject to the 
filing requirement set forth in Section 19(b). Rule 19b-4(n) requires a 
designated clearing agency to provide the Commission advance notice 
(``Advance Notice'') of any proposed change to its rules, procedures, 
or operations that could materially affect the nature or level of risks 
presented by such clearing agency. Rule 19b-4(o) requires a registered 
clearing agency to submit for a Commission determination any security-
based swap, or any group, category, type, or class of security-based 
swaps it plans to accept for clearing (``Security-Based Swap 
Submission''), and provide notice to its members of such submissions.
    The collection of information is designed to provide the Commission 
with the information necessary to determine, as required by the Act, 
whether the proposed rule change is consistent with the Act and the 
rules thereunder. The information is used to determine if the proposed 
rule change should be approved, disapproved, suspended, or if 
proceedings should be instituted to determine whether to approve or 
disapprove the proposed rule change.
    The respondents to the collection of information are SROs (as 
defined by Section 3(a)(26) of the Act), \1\ including national 
securities exchanges, national securities associations, registered 
clearing agencies, notice registered securities future product 
exchanges, and the Municipal Securities Rulemaking Board.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78c(a)(26).
---------------------------------------------------------------------------

    In calendar year 2015, each respondent filed an average of 
approximately 57 proposed rule changes. Each filing takes approximately 
39 hours to complete on average. Thus, the total annual reporting 
burden for filing proposed rule changes with the Commission is 86,697 
hours (57 proposals per year x 39 SROs x 39 hours per filing) for the 
estimated future number of 39 SROs.\2\ In addition to filing their 
proposed rule changes with the Commission, the respondents also are 
required to post each of their proposals on their respective Web sites, 
a process that takes approximately four hours to complete per proposal. 
Thus, for 1,935 proposals, the total annual reporting burden on 
respondents to post the proposals on their Web sites is 7,740 hours 
(1,935 proposals per year x 4 hours per filing) or 8,892 hours (57 
proposals per year x 39 SROs x 4 hours per filing) for the estimated 
future number of 39 SROs. Further, the respondents are required to 
update their rulebooks, which they maintain on their Web sites, to 
reflect the changes that they make in each proposal they file. Thus, 
for all filings that were not withdrawn by a respondent (240 withdrawn 
filings in calendar year 2015) or disapproved by the Commission (6 
disapproved filings in calendar year 2015), the respondents were 
required to update their online rulebooks to reflect the effectiveness 
of 1,689 proposals, each of which takes approximately four hours to 
complete per proposal. Thus, the total annual reporting burden for 
updating online rulebooks is 7,764 hours ((2,223 filings per year-275 
withdrawn filings \3\-7 disapproved filings \4\) x 4 hours). Finally, a 
respondent is required to notify the Commission if it does not post a 
proposed rule change on its Web site on the same day that it filed the 
proposal with the Commission. The Commission estimates that SROs will 
fail to post proposed rule changes on their Web sites on the same day 
as the filing 22 times a year (across all SROs), and that each SRO will 
spend approximately one hour preparing and submitting such notice to 
the Commission, resulting in a total annual burden of 22 hours (22 
notices x 1 hour per notice).
---------------------------------------------------------------------------

    \2\ For most of 2015, 34 SROs were registered. One registered 
SRO withdrew in December 2015 and one SRO newly registered with the 
Commission in January 2016. The Commission expects five additional 
respondents to register during the three-year period for which this 
PRA Extension is applicable (three as registered clearing agencies 
and two as national securities exchanges), bringing the total number 
of respondents to 39.
    \3\ For 34 SROs, 240 withdrawn filings equal approximately 7.06 
filings per SRO. For 39 SROs, the figure would increase to 275 
withdrawn filings.
    \4\ For 34 SROs, six disapproved filings equal approximately 
0.18 filings per SRO. For 39 SROs, the figure would increase to 
seven disapproved filings.
---------------------------------------------------------------------------

    Designated clearing agencies have additional information collection 
burdens. As noted above, pursuant to Rule 19b-4(n), a designated 
clearing agency must file with the Commission an Advance Notice of any 
proposed change to its rules, procedures, or operations that could 
materially affect the nature or level of risks presented by such 
designated clearing agency. The Commission estimates that four 
designated clearing agencies will each submit five Advance Notices per 
year, with each submission taking 90 hours to complete. The total 
annual reporting burden for filing Advance Notices is therefore 1,800 
hours (4 designated clearing agencies x 5 Advance Notices per year x 90 
hours per response).
    Designated clearing agencies are required to post all Advance 
Notices to their Web sites, each of which takes approximately four 
hours to complete. For five Advance Notices, the total annual reporting 
burden for posting them to respondents' Web sites is 80 hours (4 
designated clearing agencies x 5 Advance Notices per year x 4 hours per 
Web site posting). Respondents are required to update the postings of 
those Advance Notices that become effective, each of which takes 
approximately four hours to complete. The total annual reporting burden 
for updating Advance Notices on the respondents' Web sites is 80 hours 
(4 designated clearing agencies x 5 Advance Notices per year x 4 hours 
per Web site posting).
    Pursuant to Rule 19b-4(n)(5), the respondents are also required to 
provide copies of all materials submitted to the Commission relating to 
an Advance Notice to the Board of Governors of the Federal Reserve 
System (``Board'') contemporaneously with such submission to the 
Commission, which is estimated to take two hours. The total annual 
reporting burden for designated clearing agencies to meet this 
requirement is 40 hours (4 designated clearing agencies x 5 Advance 
Notices per year x 2 hours per response).
    The Commission estimates that three security-based swap clearing 
agencies will each submit 20 Security-Based Swap Submissions per year, 
with each submission taking 140 hours to complete resulting in a total 
annual reporting burden of 8,400 hours (3 respondent clearing agencies 
x 20 Security-Based Swap Submissions per year x 140 hours per 
response). Respondent clearing agencies are required to post all 
Security-Based Swap Submissions to their Web sites, each of which takes 
approximately four hours to complete. For 20 Security-Based Swap 
Submissions, the total annual reporting burden for posting them to the 
three respondents' Web sites is 240 hours (3 respondent clearing 
agencies x 20 Security-Based Swap Submissions per year x 4 hours per 
Web site posting). In addition, three clearing agencies that have not 
previously posted Security-Based Swap Submissions, Advance Notices, and 
proposed rule changes on their Web sites may need to update their 
existing Web sites to post such filings online. The Commission 
estimates that each of these three clearing agencies would spend 
approximately 15 hours updating its existing Web site, resulting in a 
total one-time burden of 45 hours (3

[[Page 57948]]

respondent clearing agencies x 15 hours per Web site update) or 15 
hours annualized over three years.
    Respondent clearing agencies will also have to provide training to 
staff members using the Electronic Form 19b-4 Filing System (``EFFS'') 
to submit Security-Based Swap Submissions, Advance Notices, and/or 
proposed rule changes electronically. The Commission estimates that one 
anticipated security-based swap clearing agency will spend 
approximately 20 hours training all staff members who will use EFFS to 
submit Security-Based Swap Submissions, Advance Notices, and/or 
proposed rule changes electronically, or 6.7 hours annualized over 
three years. The Commission also estimates that one anticipated 
clearing agency will have a one-time burden of 130 hours to draft and 
implement internal policies and procedures for using EFFS to make these 
submissions, or 43.3 hours annualized over three years. The Commission 
estimates that each of the 39 respondents will spend 10 hours each year 
training new compliance staff members and updating the training of 
existing compliance staff members to use EFFS, for a total annual 
burden of 390 hours (39 respondent SROs x 10 hours).
    In connection with Security-Based Swap Submissions, counterparties 
may apply for a stay from a mandatory clearing requirement under Rule 
3Ca-1. The Commission estimates that each clearing agency will submit 
five applications for stays from a clearing requirement per year and it 
will take approximately 18 hours to retrieve, review, and submit each 
application. Thus, the total annual reporting burden for the Rule 3Ca-1 
stay of clearing requirement would be 270 hours (3 respondent clearing 
agencies x 5 stay of clearing applications per year x 18 hours to 
retrieve, review, and submit the stay of clearing information).
    Based on the above, the total estimated annual response burden 
pursuant to Rule 19b-4 and Form 19b-4 is the sum of the total annual 
reporting burdens for filing proposed rule changes, Advance Notices, 
and Security-Based Swap Submissions; training staff to file such 
proposals; drafting, modifying, and implementing internal policies and 
procedures for filing such proposals; posting each proposal on the 
respondents' Web sites; updating Web sites to enable posting of 
proposals; updating the respondents' online rulebooks to reflect the 
proposals that became effective; submitting copies of Advance Notices 
to the Board; and applying for stays from clearing requirements, which 
is 114,740 hours.
    Compliance with Rule 19b-4 is mandatory. Information received in 
response to Rule 19b-4 shall not be kept confidential; the information 
collected is public information.
    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: August 19, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-20257 Filed 8-23-16; 8:45 am]
 BILLING CODE 8011-01-P
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