Submission for OMB Review; Comment Request, 68069 [2016-23758]

Download as PDF Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices compliance of approximately $6,288,897. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. 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 under the PRA unless it displays a currently valid OMB 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: September 27, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–23762 Filed 9–30–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. sradovich on DSK3GMQ082PROD with NOTICES Extension: Form Custody SEC File No. 270–643, OMB Control No. 3235–0691 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of the extension of the previously approved collection of information provided for in Form Custody (17 CFR 249.639) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (‘‘Exchange Act’’). VerDate Sep<11>2014 17:56 Sep 30, 2016 Jkt 241001 Section 17(a)(1) of the Exchange Act provides that broker-dealers registered with the Commission must make and keep records, furnish copies of the records, and make and disseminate reports as the Commission, by rule, prescribes. Pursuant to this authority, the Commission adopted Rule 17a–5 (17 CFR 240.17a–5), which is one of the primary financial and operational reporting rules for broker-dealers.1 Paragraph (a)(5) of Rule 17a–5 requires every broker-dealer registered with the Commission to file Form Custody (17 CFR 249.639) with its designated examining authority (‘‘DEA’’) within 17 business days after the end of each calendar quarter and within 17 business days after the date selected for the broker-dealer’s annual report if that date is not the end of a calendar quarter. Form Custody is designed to elicit information about whether a brokerdealer maintains custody of customer and non-customer assets, and, if so, how such assets are maintained. There are approximately 4,113 brokerdealers registered with the Commission. Based on staff experience, the Commission estimates that, on average, it would take a broker-dealer approximately 12 hours to complete and file Form Custody, for an annual industry-wide reporting burden of approximately 197,424 hours.2 Assuming an average cost per hour of approximately $291for a compliance manager, the total internal cost of compliance for the respondents is approximately $57,450,384 per year.3 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 1 Rule 17a–5 is subject to a separate PRA filing (OMB Control Number 3235–0123). 2 4,113 brokers-dealers × 4 times per year × 12 hours = 197,424 hours. 3 197,424 hours times $291 per hour = 57,450,384. $291 per hour for a compliance manager is from SIFMA’s Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff for an 1800hour work-year, multiplied by 5.35 to account for bonuses, firm size, employee benefits, and overhead, and adjusted for inflation. PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 68069 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 within 30 days of this notice. Dated: September 27, 2016. Robert W. Errett, Deputy Secretary. [FR Doc. 2016–23758 Filed 9–30–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–78946; File No. SR–BOX– 2016–45] Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing of Proposed Rule Change To Amend the Treatment of Quotes To Provide That All Quotes on BOX Are Liquidity Adding Only September 27, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 13, 2016, BOX Options Exchange LLC (the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 8050 to amend the treatment of quotes to provide that all quotes on BOX are liquidity adding only. The text of the proposed rule change is available from the principal office of the Exchange, at the Commission’s Public Reference Room and also on the Exchange’s Internet Web site at https:// boxexchange.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\03OCN1.SGM 03OCN1

Agencies

[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)]
[Notices]
[Page 68069]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-23758]


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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: Form Custody
    SEC File No. 270-643, OMB Control No. 3235-0691

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of the extension of the 
previously approved collection of information provided for in Form 
Custody (17 CFR 249.639) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.) (``Exchange Act'').
    Section 17(a)(1) of the Exchange Act provides that broker-dealers 
registered with the Commission must make and keep records, furnish 
copies of the records, and make and disseminate reports as the 
Commission, by rule, prescribes. Pursuant to this authority, the 
Commission adopted Rule 17a-5 (17 CFR 240.17a-5), which is one of the 
primary financial and operational reporting rules for broker-
dealers.\1\ Paragraph (a)(5) of Rule 17a-5 requires every broker-dealer 
registered with the Commission to file Form Custody (17 CFR 249.639) 
with its designated examining authority (``DEA'') within 17 business 
days after the end of each calendar quarter and within 17 business days 
after the date selected for the broker-dealer's annual report if that 
date is not the end of a calendar quarter. Form Custody is designed to 
elicit information about whether a broker-dealer maintains custody of 
customer and non-customer assets, and, if so, how such assets are 
maintained.
---------------------------------------------------------------------------

    \1\ Rule 17a-5 is subject to a separate PRA filing (OMB Control 
Number 3235-0123).
---------------------------------------------------------------------------

    There are approximately 4,113 broker-dealers registered with the 
Commission. Based on staff experience, the Commission estimates that, 
on average, it would take a broker-dealer approximately 12 hours to 
complete and file Form Custody, for an annual industry-wide reporting 
burden of approximately 197,424 hours.\2\ Assuming an average cost per 
hour of approximately $291for a compliance manager, the total internal 
cost of compliance for the respondents is approximately $57,450,384 per 
year.\3\
---------------------------------------------------------------------------

    \2\ 4,113 brokers-dealers x 4 times per year x 12 hours = 
197,424 hours.
    \3\ 197,424 hours times $291 per hour = 57,450,384. $291 per 
hour for a compliance manager is from SIFMA's Management & 
Professional Earnings in the Securities Industry 2013, modified by 
Commission staff for an 1800-hour work-year, multiplied by 5.35 to 
account for bonuses, firm size, employee benefits, and overhead, and 
adjusted for inflation.
---------------------------------------------------------------------------

    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 within 30 
days of this notice.

    Dated: September 27, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-23758 Filed 9-30-16; 8:45 am]
 BILLING CODE 8011-01-P
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