Proposed Collection; Comment Request, 36064-36065 [2017-16214]

Download as PDF 36064 Federal Register / Vol. 82, No. 147 / Wednesday, August 2, 2017 / Notices the extent DTC receives written comments on the proposed rule change, DTC will forward such comments to the Commission. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) 38 of the Act and paragraph (f) of Rule 19b–4 39 thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: sradovich on DSKBCFCHB2PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– DTC–2017–010 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–DTC–2017–010. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and 38 15 39 17 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f). VerDate Sep<11>2014 19:43 Aug 01, 2017 printing in the Commission’s Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of DTC and on DTCC’s Web site (https://dtcc.com/legal/sec-rulefilings.aspx). All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–DTC– 2017–010 and should be submitted on or before August 23, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.40 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–16269 Filed 8–1–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–381, OMB Control No. 3235–0434] Proposed Collection; Comment Request Upon Written Request, Copies Available From: U.S. Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549–2736. Extension: Rule 15g–2. 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 collection of information provided for in Rule 15g–2 (17 CFR 240.15g–2) 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 (‘‘OMB’’) for extension and approval. Rule 15g–2 (The ‘‘Penny Stock Disclosure Rule’’) requires brokerdealers to provide their customers with a risk disclosure document, as set forth in Schedule 15G, prior to their first nonexempt transaction in a ‘‘penny stock.’’ As amended, the rule requires brokerdealers to obtain written acknowledgement from the customer that he or she has received the required 40 17 Jkt 241001 PO 00000 CFR 200.30–3(a)(12). Frm 00139 Fmt 4703 Sfmt 4703 risk disclosure document. The amended rule also requires broker-dealers to maintain a copy of the customer’s written acknowledgement for at least three years following the date on which the risk disclosure document was provided to the customer, the first two years in an accessible place. Rule 15g– 2 also requires a broker-dealer, upon request of a customer, to furnish the customer with a copy of certain information set forth on the Commission’s Web site. The risk disclosure documents are for the benefit of the customers, to assure that they are aware of the risks of trading in ‘‘penny stocks’’ before they enter into a transaction. The risk disclosure documents are maintained by the broker-dealers and may be reviewed during the course of an examination by the Commission. There are approximately 198 brokerdealers that could potentially be subject to current Rule 15g–2. The Commission estimates that approximately 5% of registered broker-dealers are engaged in penny stock transactions, and thereby subject to the Rule (5% × approximately 3,969 registered broker-dealers = 198 broker-dealers). The Commission estimates that each one of these firms processes an average of three new customers for penny stocks per week. Thus, each respondent processes approximately 156 penny stock disclosure documents per year. If communications in tangible form alone are used to satisfy the requirements of Rule 15g–2, then the copying and mailing of the penny stock disclosure document takes no more than two minutes. Thus, the total associated burden is approximately 2 minutes per response, or an aggregate total of 312 minutes per respondent. Since there are 198 respondents, the current annual burden is 61,776 minutes (312 minutes per each of the 198 respondents) or 1,030 hours for this third party disclosure burden. In addition, brokerdealers incur a recordkeeping burden of approximately two minutes per response when filing the completed penny stock disclosure documents as required pursuant to the Rule 15(g)(2)(c), which requires a brokerdealer to preserve a copy of the written acknowledgement pursuant to Rule 17a–4(b) of the Exchange Act. Since there are approximately 156 responses for each respondent, the respondents incur an aggregate recordkeeping burden of 61,776 minutes (198 respondents × 156 responses for each × 2 minutes per response) or 1,030 hours, under Rule 15g–2. Accordingly, the current aggregate annual hour burden associated with Rule 15g–2 (assuming E:\FR\FM\02AUN1.SGM 02AUN1 sradovich on DSKBCFCHB2PROD with NOTICES Federal Register / Vol. 82, No. 147 / Wednesday, August 2, 2017 / Notices that all respondents provide tangible copies of the required documents) is approximately 2,060 hours (1,030 third party disclosure hours + 1,030 recordkeeping hours). The burden hours associated with Rule 15g–2 may be slightly reduced when the penny stock disclosure document required under the rule is provided through electronic means such as email from the broker-dealer (e.g., the broker-dealer respondent may take only one minute, instead of the two minutes estimated above, to provide the penny stock disclosure document by email to its customer). In this regard, if each of the customer respondents estimated above communicates with his or her broker-dealer electronically, the total ongoing respondent burden is approximately 1 minute per response, or an aggregate total of 156 minutes (156 customers × 1 minutes per respondent). Assuming 198 respondents, the annual third party disclosure burden, if electronic communications were used by all customers, is 30,888 minutes (156 minutes per each of the 198 respondents) or 515 hours. If all respondents were to use electronic means, the recordkeeping burden would be 61,776 minutes or 1,030 hours (the same as above). Thus, if all brokerdealer respondents obtain and send the documents required under the rules electronically, the aggregate annual hour burden associated with Rule 15g–2 is 1,545 (515 hours + 1,030 hours). In addition, if the penny stock customer requests a paper copy of the information on the Commission’s Web site regarding microcap securities, including penny stocks, from his or her broker-dealer, the printing and mailing of the document containing this information takes no more than two minutes per customer. Because many investors have access to the Commission’s Web site via computers located in their homes, or in easily accessible public places such as libraries, then, at most, a quarter of customers who are required to receive the Rule 15g–2 disclosure document request that their broker-dealer provide them with the additional microcap and penny stock information posted on the Commission’s Web site. Thus, each broker-dealer respondent processes approximately 39 requests for paper copies of this information per year or an aggregate total of 78 minutes per respondent (2 minutes per customer × 39 requests per respondent). Since there are 198 respondents, the estimated annual burden is 15,444 minutes (78 minutes per each of the 198 respondents) or 257 hours. This is a third party disclosure type of burden. VerDate Sep<11>2014 19:43 Aug 01, 2017 Jkt 241001 We have no way of knowing how many broker-dealers and customers will choose to communicate electronically. Assuming that 50 percent of respondents continue to provide documents and obtain signatures in tangible form and 50 percent choose to communicate electronically to satisfy the requirements of Rule 15g–2, the total aggregate burden hours would be 2,060 ((aggregate burden hours for sending disclosure documents and obtaining signed customer acknowledgements in tangible form × 0.50 of the respondents = 1,030 hours) + (aggregate burden hours for electronically signed and transmitted documents × 0.50 of the respondents = 773 hours) + (257 burden hours for those customers making requests for a copy of the information on the Commission’s Web site)). Written comments are invited on: (a) 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; (b) the accuracy of the agency’s estimate of the burden of the 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: July 27, 2017. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–16214 Filed 8–1–17; 8:45 am] BILLING CODE 8011–01–P PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 36065 DEPARTMENT OF STATE [Public Notice: 10070] Notice of Information Collection Under OMB Emergency Review: Request for Approval To Travel to a Restricted Country or Area Notice of request for emergency OMB approval and public comment. ACTION: The Department of State has submitted the information collection request described below to the Office of Management and Budget (OMB) for review and approval in accordance with the emergency review procedures of the Paperwork Reduction Act of 1995. The purpose of this notice is to allow 21 days for public comment from all interested individuals and organizations. Emergency review and approval of this collection has been requested from OMB by September 1, 2017. SUMMARY: All public comments must be received by August 23, 2017. ADDRESSES: Direct any comments on this emergency request to both the Department of State Desk Officer in the Office of Information and Regulatory Affairs at the Office of Management and Budget (OMB) and to Bureau of Consular Affairs, Passport Services Directorate. You may submit comments to OMB by the following methods: • Email: oira_submission@ omb.eop.gov. You must include Emergency Submission Comment on ‘‘Request for Approval to Travel to a Restricted Country or Area’’ in the subject line of your message. • Fax: 202–395–5806. Attention: Desk Officer for Department of State. You may submit comments to Bureau of Consular Affairs, Passport Services Directorate by the following methods: • Web: Persons with access to the Internet may comment on this notice by going to www.Regulations.gov. You can search for the document by entering ‘‘Docket Number: DOS–2017–0033’’ in the Search field. Then click the ‘‘Comment Now’’ button and complete the comment form. • Email: PRA_BurdenComments@ state.gov. You must include Emergency Submission Comment on ‘‘Request for Approval to Travel to a Restricted Country or Area’’ in the subject line of your message. FOR FURTHER INFORMATION CONTACT: Direct requests for additional information regarding the collection listed in this notice, including requests for copies of the proposed collection instrument and supporting documents, DATES: E:\FR\FM\02AUN1.SGM 02AUN1

Agencies

[Federal Register Volume 82, Number 147 (Wednesday, August 2, 2017)]
[Notices]
[Pages 36064-36065]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-16214]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-381, OMB Control No. 3235-0434]


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of FOIA Services, 100 F Street NE., 
Washington, DC 20549-2736.

Extension: Rule 15g-2.

    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 collection of 
information provided for in Rule 15g-2 (17 CFR 240.15g-2) 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 (``OMB'') for 
extension and approval.
    Rule 15g-2 (The ``Penny Stock Disclosure Rule'') requires broker-
dealers to provide their customers with a risk disclosure document, as 
set forth in Schedule 15G, prior to their first non-exempt transaction 
in a ``penny stock.'' As amended, the rule requires broker-dealers to 
obtain written acknowledgement from the customer that he or she has 
received the required risk disclosure document. The amended rule also 
requires broker-dealers to maintain a copy of the customer's written 
acknowledgement for at least three years following the date on which 
the risk disclosure document was provided to the customer, the first 
two years in an accessible place. Rule 15g-2 also requires a broker-
dealer, upon request of a customer, to furnish the customer with a copy 
of certain information set forth on the Commission's Web site.
    The risk disclosure documents are for the benefit of the customers, 
to assure that they are aware of the risks of trading in ``penny 
stocks'' before they enter into a transaction. The risk disclosure 
documents are maintained by the broker-dealers and may be reviewed 
during the course of an examination by the Commission.
    There are approximately 198 broker-dealers that could potentially 
be subject to current Rule 15g-2. The Commission estimates that 
approximately 5% of registered broker-dealers are engaged in penny 
stock transactions, and thereby subject to the Rule (5% x approximately 
3,969 registered broker-dealers = 198 broker-dealers). The Commission 
estimates that each one of these firms processes an average of three 
new customers for penny stocks per week. Thus, each respondent 
processes approximately 156 penny stock disclosure documents per year. 
If communications in tangible form alone are used to satisfy the 
requirements of Rule 15g-2, then the copying and mailing of the penny 
stock disclosure document takes no more than two minutes. Thus, the 
total associated burden is approximately 2 minutes per response, or an 
aggregate total of 312 minutes per respondent. Since there are 198 
respondents, the current annual burden is 61,776 minutes (312 minutes 
per each of the 198 respondents) or 1,030 hours for this third party 
disclosure burden. In addition, broker-dealers incur a recordkeeping 
burden of approximately two minutes per response when filing the 
completed penny stock disclosure documents as required pursuant to the 
Rule 15(g)(2)(c), which requires a broker-dealer to preserve a copy of 
the written acknowledgement pursuant to Rule 17a-4(b) of the Exchange 
Act. Since there are approximately 156 responses for each respondent, 
the respondents incur an aggregate recordkeeping burden of 61,776 
minutes (198 respondents x 156 responses for each x 2 minutes per 
response) or 1,030 hours, under Rule 15g-2. Accordingly, the current 
aggregate annual hour burden associated with Rule 15g-2 (assuming

[[Page 36065]]

that all respondents provide tangible copies of the required documents) 
is approximately 2,060 hours (1,030 third party disclosure hours + 
1,030 recordkeeping hours).
    The burden hours associated with Rule 15g-2 may be slightly reduced 
when the penny stock disclosure document required under the rule is 
provided through electronic means such as email from the broker-dealer 
(e.g., the broker-dealer respondent may take only one minute, instead 
of the two minutes estimated above, to provide the penny stock 
disclosure document by email to its customer). In this regard, if each 
of the customer respondents estimated above communicates with his or 
her broker-dealer electronically, the total ongoing respondent burden 
is approximately 1 minute per response, or an aggregate total of 156 
minutes (156 customers x 1 minutes per respondent). Assuming 198 
respondents, the annual third party disclosure burden, if electronic 
communications were used by all customers, is 30,888 minutes (156 
minutes per each of the 198 respondents) or 515 hours. If all 
respondents were to use electronic means, the recordkeeping burden 
would be 61,776 minutes or 1,030 hours (the same as above). Thus, if 
all broker-dealer respondents obtain and send the documents required 
under the rules electronically, the aggregate annual hour burden 
associated with Rule 15g-2 is 1,545 (515 hours + 1,030 hours).
    In addition, if the penny stock customer requests a paper copy of 
the information on the Commission's Web site regarding microcap 
securities, including penny stocks, from his or her broker-dealer, the 
printing and mailing of the document containing this information takes 
no more than two minutes per customer. Because many investors have 
access to the Commission's Web site via computers located in their 
homes, or in easily accessible public places such as libraries, then, 
at most, a quarter of customers who are required to receive the Rule 
15g-2 disclosure document request that their broker-dealer provide them 
with the additional microcap and penny stock information posted on the 
Commission's Web site. Thus, each broker-dealer respondent processes 
approximately 39 requests for paper copies of this information per year 
or an aggregate total of 78 minutes per respondent (2 minutes per 
customer x 39 requests per respondent). Since there are 198 
respondents, the estimated annual burden is 15,444 minutes (78 minutes 
per each of the 198 respondents) or 257 hours. This is a third party 
disclosure type of burden.
    We have no way of knowing how many broker-dealers and customers 
will choose to communicate electronically. Assuming that 50 percent of 
respondents continue to provide documents and obtain signatures in 
tangible form and 50 percent choose to communicate electronically to 
satisfy the requirements of Rule 15g-2, the total aggregate burden 
hours would be 2,060 ((aggregate burden hours for sending disclosure 
documents and obtaining signed customer acknowledgements in tangible 
form x 0.50 of the respondents = 1,030 hours) + (aggregate burden hours 
for electronically signed and transmitted documents x 0.50 of the 
respondents = 773 hours) + (257 burden hours for those customers making 
requests for a copy of the information on the Commission's Web site)).
    Written comments are invited on: (a) 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; (b) the accuracy of the agency's estimate of 
the burden of the 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: July 27, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-16214 Filed 8-1-17; 8:45 am]
 BILLING CODE 8011-01-P
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