Proposed Collection; Comment Request, 53689 [2018-23199]
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Federal Register / Vol. 83, No. 206 / Wednesday, October 24, 2018 / Notices
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.
amozie on DSK3GDR082PROD with NOTICES1
Extension:
Rules 17h–1T and 17h–2T, SEC File No.
270–359, OMB Control No. 3235–0410.
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’’) is soliciting comments
on the existing collection of information
provided for in Rules 17h–1T and 17h–
2T (17 CFR 240.17h–1T and 17 CFR
240.17h–2T), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17h–1T requires a covered
broker-dealer to maintain and preserve
records and other information
concerning certain entities that are
associated with the broker-dealer. This
requirement extends to the financial and
securities activities of the holding
company, affiliates and subsidiaries of
the broker-dealer that are reasonably
likely to have a material impact on the
financial or operational condition of the
broker-dealer. Rule 17h–2T requires a
covered broker-dealer to file with the
Commission quarterly reports and a
cumulative year-end report concerning
the information required to be
maintained and preserved under Rule
17h–1T.
The collection of information required
by Rules 17h–1T and 17h–2T,
collectively referred to as the ‘‘risk
assessment rules’’, is necessary to
enable the Commission to monitor the
activities of a broker-dealer affiliate
whose business activities are reasonably
likely to have a material impact on the
financial and operational condition of
the broker-dealer. Without this
information, the Commission would be
unable to assess the potentially
damaging impact of the affiliate’s
activities on the broker-dealer.
There are currently 285 respondents
that must comply with Rules 17h–1T
and 17h–2T. Each of these 285
respondents are estimated to require 10
hours per year to maintain the records
required under Rule 17h–1T, for an
aggregate estimated annual burden of
2,850 hours (285 respondents × 10
hours). In addition, each of these 285
VerDate Sep<11>2014
17:43 Oct 23, 2018
Jkt 247001
respondents must make five annual
responses under Rule 17h–2T. These
five responses are estimated to require
14 hours per respondent per year for an
aggregate estimated annual burden of
3,990 hours (285 respondents × 14
hours).
In addition, new respondents must
draft an organizational chart required
under Rule 17h–1T and establish a
system for complying with the risk
assessment rules. The staff estimates
that drafting the required organizational
chart requires one hour and establishing
a system for complying with the risk
assessment rules requires three hours.
Based on the reduction in the number
of filers in recent years, the staff
estimates there will be zero new
respondents, and thus, a corresponding
estimated burden of zero hours for new
respondents. Thus, the total compliance
burden per year is approximately 6,840
burden hours (2,850 hours + 3,990
hours).
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 will have practical utility;
(b) the accuracy of the Commission’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: Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: October 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–23199 Filed 10–23–18; 8:45 am]
BILLING CODE 8011–01–P
PO 00000
53689
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: US Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rules 3a68–2 and 3a68–4(c)
SEC File No. 270–641, OMB Control No.
3235–0685
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission (‘‘SEC’’) is
soliciting comments on the existing
collection of information provided for
Rules 3a68–2 and 3a68–4(c). The SEC
plans to submit this existing collection
of information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Rule 3a68–2 creates a process for
interested persons to request a joint
interpretation by the SEC and the
Commodity Futures Trading
Commission (‘‘CFTC’’) (together with
the SEC, the ‘‘Commissions’’) regarding
whether a particular instrument (or
class of instruments) is a swap, a
security-based swap, or both (i.e., a
mixed swap). Under Rule 3a68–2, a
person provides to the Commissions a
copy of all material information
regarding the terms of, and a statement
of the economic characteristics and
purpose of, each relevant agreement,
contract, or transaction (or class
thereof), along with that person’s
determination as to whether each such
agreement, contract, or transaction (or
class thereof) should be characterized as
a swap, security-based swap, or both
(i.e., a mixed swap). The Commissions
also may request the submitting person
to provide additional information.
The SEC expects 25 requests pursuant
to Rule 3a68–2 per year. The SEC
estimates the total paperwork burden
associated with preparing and
submitting each request would be 20
hours to retrieve, review, and submit the
information associated with the
submission. This 20 hour burden is
divided between the SEC and the CFTC,
with 10 hours per response regarding
reporting to the SEC and 10 hours of
response regarding third party
disclosure to the CFTC.1 The SEC
estimates this would result in an
1 The burdens imposed by the CFTC are included
in this collection of information.
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[Federal Register Volume 83, Number 206 (Wednesday, October 24, 2018)]
[Notices]
[Page 53689]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23199]
[[Page 53689]]
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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 Street NE, Washington, DC
20549-2736.
Extension:
Rules 17h-1T and 17h-2T, SEC File No. 270-359, OMB Control No.
3235-0410.
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'') is soliciting comments on the existing
collection of information provided for in Rules 17h-1T and 17h-2T (17
CFR 240.17h-1T and 17 CFR 240.17h-2T), under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit
this existing collection of information to the Office of Management and
Budget (``OMB'') for extension and approval.
Rule 17h-1T requires a covered broker-dealer to maintain and
preserve records and other information concerning certain entities that
are associated with the broker-dealer. This requirement extends to the
financial and securities activities of the holding company, affiliates
and subsidiaries of the broker-dealer that are reasonably likely to
have a material impact on the financial or operational condition of the
broker-dealer. Rule 17h-2T requires a covered broker-dealer to file
with the Commission quarterly reports and a cumulative year-end report
concerning the information required to be maintained and preserved
under Rule 17h-1T.
The collection of information required by Rules 17h-1T and 17h-2T,
collectively referred to as the ``risk assessment rules'', is necessary
to enable the Commission to monitor the activities of a broker-dealer
affiliate whose business activities are reasonably likely to have a
material impact on the financial and operational condition of the
broker-dealer. Without this information, the Commission would be unable
to assess the potentially damaging impact of the affiliate's activities
on the broker-dealer.
There are currently 285 respondents that must comply with Rules
17h-1T and 17h-2T. Each of these 285 respondents are estimated to
require 10 hours per year to maintain the records required under Rule
17h-1T, for an aggregate estimated annual burden of 2,850 hours (285
respondents x 10 hours). In addition, each of these 285 respondents
must make five annual responses under Rule 17h-2T. These five responses
are estimated to require 14 hours per respondent per year for an
aggregate estimated annual burden of 3,990 hours (285 respondents x 14
hours).
In addition, new respondents must draft an organizational chart
required under Rule 17h-1T and establish a system for complying with
the risk assessment rules. The staff estimates that drafting the
required organizational chart requires one hour and establishing a
system for complying with the risk assessment rules requires three
hours. Based on the reduction in the number of filers in recent years,
the staff estimates there will be zero new respondents, and thus, a
corresponding estimated burden of zero hours for new respondents. Thus,
the total compliance burden per year is approximately 6,840 burden
hours (2,850 hours + 3,990 hours).
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 will
have practical utility; (b) the accuracy of the Commission'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: Charles Riddle, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an
email to: [email protected].
Dated: October 19, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23199 Filed 10-23-18; 8:45 am]
BILLING CODE 8011-01-P
