Proposed Collection; Comment Request, 26960-26961 [2017-12087]
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Federal Register / Vol. 82, No. 111 / Monday, June 12, 2017 / Notices
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552b(c)(4) and 552b(c)(6) of Title 5,
U.S.C., as amended. I have made this
determination pursuant to the authority
granted me by the Chairman’s
Delegation of Authority to Close
Advisory Committee Meetings dated
April 15, 2016.
Dated: June 7, 2017.
Elizabeth Voyatzis,
Committee Management Officer.
[FR Doc. 2017–12119 Filed 6–9–17; 8:45 am]
BILLING CODE 7536–01–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 St. NE., Washington, DC 20549–
2736
Extension:
Rule 19b–7 and Form 19b–7; SEC File No.
270–495, OMB Control No. 3235–0553
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
(‘‘SEC’’ or ‘‘Commission’’) is soliciting
comments on the existing collection of
information provided for in Rule 19b–7
(17 CFR 240.19b–7) and Form 19b–7—
Filings with respect to proposed rule
changes submitted pursuant to Section
19b(7) under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.)
(‘‘Exchange Act’’). The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
The Exchange Act provides a
framework for self-regulation under
which various entities involved in the
securities business, including national
securities exchanges and national
securities associations (collectively, selfregulatory organizations or ‘‘SROs’’),
have primary responsibility for
regulating their members or
participants. The role of the
Commission in this framework is
primarily one of oversight; the Exchange
Act charges the Commission with
supervising the SROs and assuring that
each complies with and advances the
policies of the Exchange Act.
The Exchange Act was amended by
the Commodity Futures Modernization
Act of 2000 (‘‘CFMA’’). Prior to the
CFMA, federal law did not allow the
trading of futures on individual stocks
or on narrow-based stock indexes
(collectively, ‘‘security futures
PO 00000
Frm 00058
Fmt 4703
Sfmt 4703
products’’). The CFMA removed this
restriction and provided that trading in
security futures products would be
regulated jointly by the Commission and
the Commodity Futures Trading
Commission (‘‘CFTC’’).
The Exchange Act requires all SROs
to submit to the SEC any proposals to
amend, add, or delete any of their rules.
Certain entities (Security Futures
Product Exchanges) would be notice
registered national securities exchanges
only because they trade security futures
products. Similarly, certain entities
(Limited Purpose National Securities
Associations) would be limited purpose
national securities associations only
because their members trade security
futures products. The Exchange Act, as
amended by the CFMA, established a
procedure for Security Futures Product
Exchanges and Limited Purpose
National Securities Associations to
provide notice of proposed rule changes
relating to certain matters.1 Rule 19b–7
and Form 19b–7 implemented this
procedure. Effective April 28, 2008, the
SEC amended Rule 19b–7 and Form
19b–7 to require that Form 19b–7 be
submitted electronically.2
The collection of information is
designed to provide the Commission
with the information necessary to
determine, as required by the Exchange
Act, whether the proposed rule change
is consistent with the Exchange Act and
the rules thereunder. The information is
used to determine if the proposed rule
change should remain in effect or
abrogated.
The respondents to the collection of
information are SROs. Three
respondents file an average total of
approximately 3 responses per year.3
Each response takes approximately 12.5
hours to complete and each amendment
takes approximately 3 hours to
complete, which correspond to an
estimated annual response burden of
37.5 hours ((3 rule change proposals ×
1 These matters are higher margin levels, fraud or
manipulation, recordkeeping, reporting, listing
standards, or decimal pricing for security futures
products; sales practices for security futures
products for persons who effect transactions in
security futures products; or rules effectuating the
obligation of Security Futures Product Exchanges
and Limited Purpose National Securities
Associations to enforce the securities laws. See 15
U.S.C. 78s(b)(7)(A).
2 See Securities Exchange Act Release No. 57526
(March 19, 2008), 73 FR 16179 (March 27, 2008).
3 There are currently four Security Futures
Product Exchanges and one Limited Purpose
National Securities Association, the National
Futures Authority. However, two Security Futures
Product Exchanges currently do not trade security
futures products and, as a result, have not been
filing proposed rule changes. Therefore, there are
currently three respondents to Form 19b–7.
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Federal Register / Vol. 82, No. 111 / Monday, June 12, 2017 / Notices
asabaliauskas on DSKBBXCHB2PROD with NOTICES
12.5 hours) + (0 amendments 4 × 3
hours)). The average internal cost of
compliance per response is $4,761 (11.5
legal hours multiplied by an average
hourly rate of $396 5 plus 1 hour of
paralegal work multiplied by an average
hourly rate of $207 6). The total resulting
internal cost of compliance for a
respondent is $14,283 per year (3
responses × $4,761 per response).
In addition to filing its proposed rule
changes and any amendments thereto
with the Commission, a respondent is
also required to post each of its
proposals and any amendments thereto,
on its Web site. This process takes
approximately 0.5 hours to complete per
proposal and 0.5 hours per amendment.
Thus, for approximately 3 responses
and 0 amendments,7 the total annual
reporting burden on a respondent to
post these on its Web site is 1.5 hours
((3 proposals per year × 0.5 hours per
filing) + (0 amendments × 0.5 hours)).
Further, a respondent is required to
update its rulebook, which it maintains
on its Web site, to reflect the changes
that it makes in each proposal and any
amendment thereto. Thus, for all filings
that were not withdrawn by a
respondent (0 withdrawn filings in
calendar years 2014–2016) or
disapproved by the Commission (0
disapproved filings in calendar years
2014–2016), a respondent was required
to update its online rulebook to reflect
the effectiveness of 3 filings on average,
each of which takes approximately 4
hours to complete per proposal. Thus,
the total annual reporting burden for
updating an online rulebook is 12 hours
((3 filings per year ¥ 0 withdrawn
filings ¥ 0 disapproved filings) × 4
hours).
Compliance with Rule 19b–7 is
mandatory. Information received in
response to Rule 19b–7 is not kept
4 SEC staff notes that even though no
amendments were received in the previous three
years and that staff does not anticipate the receipt
of any amendments, calculation of amendments is
a separate step in the calculation of the PRA burden
and it is possible that amendments are filed in the
future. Therefore, instead of removing the
calculation altogether, staff has shown the
calculation as anticipating zero amendments.
5 The $396 per hour figure for an Attorney is from
SIFMA’s Management & Professional Earnings in
the Securities Industry 2013, modified by
Commission staff to account for inflation and an
1800-hour work-year and then multiplied by 5.35
to account for bonuses, firm size, employee
benefits, and overhead.
6 The $207 per hour figure for a Paralegal is from
SIFMA’s Management & Professional Earnings in
the Securities Industry 2013, modified by
Commission staff to account for inflation and an
1800-hour work-year and then multiplied by 5.35
to account for bonuses, firm size, employee
benefits, and overhead.
7 See supra note 4.
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17:28 Jun 09, 2017
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confidential; the information collected
is public information.
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: June 7, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–12087 Filed 6–9–17; 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:
Rule 17a–10; SEC File No. 270–154, OMB
Control No. 3235–0122
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’’) is soliciting comments
on the existing collection of information
provided for in Rule 17a–10, Report of
Revenue and Expenses (17 CFR
240.17a–10), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (‘‘Exchange Act’’). The
Commission plans to submit this
existing collection of information to the
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Frm 00059
Fmt 4703
Sfmt 4703
26961
Office of Management and Budget
(‘‘OMB’’) for extension and approval.
The primary purpose of Rule 17a–10
is to obtain the economic and statistical
data necessary for an ongoing analysis
of the securities industry. Paragraph
(a)(1) of Rule 17a–10 generally requires
broker-dealers that are exempted from
the requirement to file monthly and
quarterly reports pursuant to paragraph
(a) of Exchange Act Rule 17a–5 (17 CFR
240.17a–5) to file with the Commission
the Facing Page, a Statement of Income
(Loss), and balance sheet from Part IIA
of Form X–17A–5 1 (17 CFR 249.617),
and Schedule I of Form X–17A–5 not
later than 17 business days after the end
of each calendar year.
Paragraph (a)(2) of Rule 17a–10
requires a broker-dealer subject to Rule
17a–5(a) to submit Schedule I of Form
X–17A–5 with its Form X–17A–5 for the
calendar quarter ending December 31 of
each year. The burden associated with
filing Schedule I of Form X–17A–5 is
accounted for in the PRA filing
associated with Rule 17a–5.
Paragraph (b) of Rule 17a–10 provides
that the provisions of paragraph (a) do
not apply to members of national
securities exchanges or registered
national securities associations that
maintain records containing the
information required by Form X–17A–5
and which transmit to the Commission
copies of the records pursuant to a plan
which has been declared effective by the
Commission.
The Commission estimates that
approximately 38 broker-dealers will
spend an average of 12 hours per year
complying with Rule 17a–10. Thus, the
total compliance burden is estimated to
be approximately 456 hours per year.
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.
1 Form X–17A–5 is the Financial and Operational
Combined Uniform Single Report (‘‘FOCUS
Report’’), which is used by broker-dealers to
provide certain required information to the
Commission.
E:\FR\FM\12JNN1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 111 (Monday, June 12, 2017)]
[Notices]
[Pages 26960-26961]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-12087]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F St. NE., Washington, DC
20549-2736
Extension:
Rule 19b-7 and Form 19b-7; SEC File No. 270-495, OMB Control No.
3235-0553
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 (``SEC'' or ``Commission'') is soliciting comments on the
existing collection of information provided for in Rule 19b-7 (17 CFR
240.19b-7) and Form 19b-7--Filings with respect to proposed rule
changes submitted pursuant to Section 19b(7) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act''). The
Commission plans to submit this existing collection of information to
the Office of Management and Budget for extension and approval.
The Exchange Act provides a framework for self-regulation under
which various entities involved in the securities business, including
national securities exchanges and national securities associations
(collectively, self-regulatory organizations or ``SROs''), have primary
responsibility for regulating their members or participants. The role
of the Commission in this framework is primarily one of oversight; the
Exchange Act charges the Commission with supervising the SROs and
assuring that each complies with and advances the policies of the
Exchange Act.
The Exchange Act was amended by the Commodity Futures Modernization
Act of 2000 (``CFMA''). Prior to the CFMA, federal law did not allow
the trading of futures on individual stocks or on narrow-based stock
indexes (collectively, ``security futures products''). The CFMA removed
this restriction and provided that trading in security futures products
would be regulated jointly by the Commission and the Commodity Futures
Trading Commission (``CFTC'').
The Exchange Act requires all SROs to submit to the SEC any
proposals to amend, add, or delete any of their rules. Certain entities
(Security Futures Product Exchanges) would be notice registered
national securities exchanges only because they trade security futures
products. Similarly, certain entities (Limited Purpose National
Securities Associations) would be limited purpose national securities
associations only because their members trade security futures
products. The Exchange Act, as amended by the CFMA, established a
procedure for Security Futures Product Exchanges and Limited Purpose
National Securities Associations to provide notice of proposed rule
changes relating to certain matters.\1\ Rule 19b-7 and Form 19b-7
implemented this procedure. Effective April 28, 2008, the SEC amended
Rule 19b-7 and Form 19b-7 to require that Form 19b-7 be submitted
electronically.\2\
---------------------------------------------------------------------------
\1\ These matters are higher margin levels, fraud or
manipulation, recordkeeping, reporting, listing standards, or
decimal pricing for security futures products; sales practices for
security futures products for persons who effect transactions in
security futures products; or rules effectuating the obligation of
Security Futures Product Exchanges and Limited Purpose National
Securities Associations to enforce the securities laws. See 15
U.S.C. 78s(b)(7)(A).
\2\ See Securities Exchange Act Release No. 57526 (March 19,
2008), 73 FR 16179 (March 27, 2008).
---------------------------------------------------------------------------
The collection of information is designed to provide the Commission
with the information necessary to determine, as required by the
Exchange Act, whether the proposed rule change is consistent with the
Exchange Act and the rules thereunder. The information is used to
determine if the proposed rule change should remain in effect or
abrogated.
The respondents to the collection of information are SROs. Three
respondents file an average total of approximately 3 responses per
year.\3\ Each response takes approximately 12.5 hours to complete and
each amendment takes approximately 3 hours to complete, which
correspond to an estimated annual response burden of 37.5 hours ((3
rule change proposals x
[[Page 26961]]
12.5 hours) + (0 amendments \4\ x 3 hours)). The average internal cost
of compliance per response is $4,761 (11.5 legal hours multiplied by an
average hourly rate of $396 \5\ plus 1 hour of paralegal work
multiplied by an average hourly rate of $207 \6\). The total resulting
internal cost of compliance for a respondent is $14,283 per year (3
responses x $4,761 per response).
---------------------------------------------------------------------------
\3\ There are currently four Security Futures Product Exchanges
and one Limited Purpose National Securities Association, the
National Futures Authority. However, two Security Futures Product
Exchanges currently do not trade security futures products and, as a
result, have not been filing proposed rule changes. Therefore, there
are currently three respondents to Form 19b-7.
\4\ SEC staff notes that even though no amendments were received
in the previous three years and that staff does not anticipate the
receipt of any amendments, calculation of amendments is a separate
step in the calculation of the PRA burden and it is possible that
amendments are filed in the future. Therefore, instead of removing
the calculation altogether, staff has shown the calculation as
anticipating zero amendments.
\5\ The $396 per hour figure for an Attorney is from SIFMA's
Management & Professional Earnings in the Securities Industry 2013,
modified by Commission staff to account for inflation and an 1800-
hour work-year and then multiplied by 5.35 to account for bonuses,
firm size, employee benefits, and overhead.
\6\ The $207 per hour figure for a Paralegal is from SIFMA's
Management & Professional Earnings in the Securities Industry 2013,
modified by Commission staff to account for inflation and an 1800-
hour work-year and then multiplied by 5.35 to account for bonuses,
firm size, employee benefits, and overhead.
---------------------------------------------------------------------------
In addition to filing its proposed rule changes and any amendments
thereto with the Commission, a respondent is also required to post each
of its proposals and any amendments thereto, on its Web site. This
process takes approximately 0.5 hours to complete per proposal and 0.5
hours per amendment. Thus, for approximately 3 responses and 0
amendments,\7\ the total annual reporting burden on a respondent to
post these on its Web site is 1.5 hours ((3 proposals per year x 0.5
hours per filing) + (0 amendments x 0.5 hours)). Further, a respondent
is required to update its rulebook, which it maintains on its Web site,
to reflect the changes that it makes in each proposal and any amendment
thereto. Thus, for all filings that were not withdrawn by a respondent
(0 withdrawn filings in calendar years 2014-2016) or disapproved by the
Commission (0 disapproved filings in calendar years 2014-2016), a
respondent was required to update its online rulebook to reflect the
effectiveness of 3 filings on average, each of which takes
approximately 4 hours to complete per proposal. Thus, the total annual
reporting burden for updating an online rulebook is 12 hours ((3
filings per year - 0 withdrawn filings - 0 disapproved filings) x 4
hours).
---------------------------------------------------------------------------
\7\ See supra note 4.
---------------------------------------------------------------------------
Compliance with Rule 19b-7 is mandatory. Information received in
response to Rule 19b-7 is not kept confidential; the information
collected is public information.
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
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email
to: PRA_Mailbox@sec.gov.
Dated: June 7, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-12087 Filed 6-9-17; 8:45 am]
BILLING CODE 8011-01-P
