Proposed Collection; Comment Request, 37939 [2019-16529]
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Federal Register / Vol. 84, No. 149 / Friday, August 2, 2019 / 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
jbell on DSK3GLQ082PROD with NOTICES
Extension:
Rules 13n–4(b)(9), (b)(10) and (d), SEC File
No. 270–793, OMB Control No. 3235–
0738
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 13n–4(b)(9), (b)(10)
and (d) 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.
Rules 13n–4(b)(9), (b)(10) and (d)
implement Exchange Act sections
13(n)(5)(G) and (H), which conditionally
require security-based swap data
repositories (SDRs) registered with the
Commission to make security-based
swap data available to certain regulators
and other authorities. The rules in part
would condition this access to data on
the regulators and other authorities
entering into memoranda of
understanding or other arrangements
with the Commission to address the
confidentiality of the data made
available. The rules further would
require SDRs to create and maintain
records regarding such data access. In
addition, certain regulators or other
authorities that are not otherwise
designated by statute or rule may submit
applications to the Commission
requesting that they be deemed eligible
to access the relevant security-based
swap data.
Implementation of the statutory data
access provisions—including the
confidentiality condition and the
Commission’s authority to designate
entities to access such information—
will facilitate regulatory oversight of the
security-based swap market and its
participants, including oversight of
systemic and other risks associated with
the market. Implementation also will
promote compliance with applicable
laws and regulations, including but not
limited to compliance with the
antifraud provisions of the federal
securities laws.
Commission Staff estimates that the
total annual burden associated with
VerDate Sep<11>2014
18:02 Aug 01, 2019
Jkt 247001
Rules 13n–4(b)(9), (b)(10) and (d) is
35,700 hours and $400,000, calculated
as follows:
Commission staff estimates a total of
30 regulators or other authorities will
enter into confidentiality arrangements
with the Commission to obtain access to
security-based swap data pursuant to
these provisions. On average, each of
those recipients of data is expected to
expend 500 hours in connection with
negotiating these MOUs or other
arrangements, for a one-time aggregate
burden of 15,000 hours, with no
associated ongoing burdens. This
equates to 5,000 hours per year when
annualized over three years.
Commission staff estimates that a total
of 21 regulators or other authorities (that
otherwise are not identified by statute or
the rules as being eligible for access)
may request that the Commission
determine that they be able to access
such security-based swap data. On
average, each of those entities is
expected to expend 40 hours in
connection with such requests, for a
one-time aggregate burden of 840 hours,
with no associated ongoing burdens.
This equates to 280 hours per year when
annualized over three years.
Commission staff also estimates that a
total of 10 SDRs may be expected to
incur systems-related costs associated
with setting up access to security-based
swap data for regulators and other
authorities. On average, each of those
entities is expected to expend 7,800
hours in connection with providing
such connectivity, for a one-time
aggregate burden of 78,000 hours, with
no associated no ongoing burdens
associated with this requirement. This
equates to 26,000 hours when
annualized over three years.
In addition, Commission staff
estimates that a total of 10 SDRs may
incur costs associated with notifying the
Commission when the SDR receives the
first request for security-based swap
data from a particular entity. On
average, each of those SDRs is expected
to expend 150 hours in connection with
this notice requirement (based on each
SDR providing 300 notices, at half-hour
per notice), for a one-time aggregate
burden of 1,500 hours, with no
associated ongoing burdens. This
equates to 500 hours per year when
annualized over three years.
Commission staff estimates that a total
of 10 SDRs may incur costs associated
with the requirement that they maintain
records of all information related to
initial and subsequent requests for data
access. On average, compliance with
this provision is expected to require 360
hours initially and 280 hours annually
per SDR, for a total burden of 3,600
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
37939
hours initially and 2,800 hours annually
across ten SDRs. This equates to 4,000
hours per year when annualized over
three years. Commission staff further
estimates that those SDRs each will
require $40,000 annually in connection
with that requirement, for a total cost of
$400,000 annually across ten SDRs.
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: July 30, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–16529 Filed 8–1–19; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMISTRATION
Annual Meeting of The Regional Small
Business Regulatory Fairness Boards
Office of The National Ombudsman
U.S. Small Business
Administration (SBA).
ACTION: Notice of open meeting of the
Regional Small Business Regulatory
Fairness Boards.
AGENCY:
The SBA, Office of the
National Ombudsman, is issuing this
notice to announce the location, date,
time and agenda for the annual board
meeting of the ten Regional Small
Business Regulatory Fairness Boards.
The meeting is open to the public.
DATES: The meeting will be held on
Tuesday, August 20, 2019 from 9 a.m.
to 4 p.m. EDT, and Wednesday, August
21, 2019 from 9 a.m. to 1 p.m. EDT.
SUMMARY:
E:\FR\FM\02AUN1.SGM
02AUN1
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[Federal Register Volume 84, Number 149 (Friday, August 2, 2019)]
[Notices]
[Page 37939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16529]
[[Page 37939]]
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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 13n-4(b)(9), (b)(10) and (d), SEC File No. 270-793, OMB
Control No. 3235-0738
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 13n-4(b)(9), (b)(10)
and (d) 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.
Rules 13n-4(b)(9), (b)(10) and (d) implement Exchange Act sections
13(n)(5)(G) and (H), which conditionally require security-based swap
data repositories (SDRs) registered with the Commission to make
security-based swap data available to certain regulators and other
authorities. The rules in part would condition this access to data on
the regulators and other authorities entering into memoranda of
understanding or other arrangements with the Commission to address the
confidentiality of the data made available. The rules further would
require SDRs to create and maintain records regarding such data access.
In addition, certain regulators or other authorities that are not
otherwise designated by statute or rule may submit applications to the
Commission requesting that they be deemed eligible to access the
relevant security-based swap data.
Implementation of the statutory data access provisions--including
the confidentiality condition and the Commission's authority to
designate entities to access such information--will facilitate
regulatory oversight of the security-based swap market and its
participants, including oversight of systemic and other risks
associated with the market. Implementation also will promote compliance
with applicable laws and regulations, including but not limited to
compliance with the antifraud provisions of the federal securities
laws.
Commission Staff estimates that the total annual burden associated
with Rules 13n-4(b)(9), (b)(10) and (d) is 35,700 hours and $400,000,
calculated as follows:
Commission staff estimates a total of 30 regulators or other
authorities will enter into confidentiality arrangements with the
Commission to obtain access to security-based swap data pursuant to
these provisions. On average, each of those recipients of data is
expected to expend 500 hours in connection with negotiating these MOUs
or other arrangements, for a one-time aggregate burden of 15,000 hours,
with no associated ongoing burdens. This equates to 5,000 hours per
year when annualized over three years.
Commission staff estimates that a total of 21 regulators or other
authorities (that otherwise are not identified by statute or the rules
as being eligible for access) may request that the Commission determine
that they be able to access such security-based swap data. On average,
each of those entities is expected to expend 40 hours in connection
with such requests, for a one-time aggregate burden of 840 hours, with
no associated ongoing burdens. This equates to 280 hours per year when
annualized over three years.
Commission staff also estimates that a total of 10 SDRs may be
expected to incur systems-related costs associated with setting up
access to security-based swap data for regulators and other
authorities. On average, each of those entities is expected to expend
7,800 hours in connection with providing such connectivity, for a one-
time aggregate burden of 78,000 hours, with no associated no ongoing
burdens associated with this requirement. This equates to 26,000 hours
when annualized over three years.
In addition, Commission staff estimates that a total of 10 SDRs may
incur costs associated with notifying the Commission when the SDR
receives the first request for security-based swap data from a
particular entity. On average, each of those SDRs is expected to expend
150 hours in connection with this notice requirement (based on each SDR
providing 300 notices, at half-hour per notice), for a one-time
aggregate burden of 1,500 hours, with no associated ongoing burdens.
This equates to 500 hours per year when annualized over three years.
Commission staff estimates that a total of 10 SDRs may incur costs
associated with the requirement that they maintain records of all
information related to initial and subsequent requests for data access.
On average, compliance with this provision is expected to require 360
hours initially and 280 hours annually per SDR, for a total burden of
3,600 hours initially and 2,800 hours annually across ten SDRs. This
equates to 4,000 hours per year when annualized over three years.
Commission staff further estimates that those SDRs each will require
$40,000 annually in connection with that requirement, for a total cost
of $400,000 annually across ten SDRs.
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: July 30, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-16529 Filed 8-1-19; 8:45 am]
BILLING CODE 8011-01-P
